Back in December, Congress passed, and the President signed into law, tax legislation as outlined below. Many provisions of this law directly impact Not-For-Profit entities and other provisions may have an indirect impact. The following summary of those provisions should be considered when planning for tax reporting for 2016.
U.S. venture capital (VC) investment was $12.1 billion in Q1 2016, up 1% over Q4 2015, but down 11% when compared to Q1 2015. On a national level, the slowdown in venture activity that began in the second half of 2015 (2015 Venture Capital Investment: Year in Review
) appears to be continuing. Venture activity peaked in Q2 2015 and has steadily decreased since then.
In a letter dated April 13, 2016, the American Bar Association (ABA) President Paulette Brown addressed the leaders of the House Ways and Means Subcommittee on Tax Policy. In the letter, she voiced opposition to the proposals that would require professional services firms to adopt the accrual basis of accounting as opposed to the more widely used and simpler cash basis method.
On March 23 and 24, 2016, the InvestMidwest Venture Capital Forum
was held in downtown St. Louis. The event featured dozens of early stage companies pitching to venture capital investors and was a great opportunity to showcase emerging companies in the life sciences, technology, and food/agriculture/bioenergy industries.