Focus on Taxation: Certain Entertainment Expenses May be Fully Deductible

The Tax Cuts and Jobs Act modified the rules relating to the deductibility of entertainment expenses. In general, entertainment expenses are not deductible under 274(a).

Focus on Not-For-Profits: Public Law 116-94 Repeals the “Parking Tax” and Includes a Change for Pri

Public Law 116-94, the Further Consolidated Appropriations Act (the Act), was signed by the President on December 20, 2019. Among the many provisions of this Act were two that have a direct impact on not-for-profit organizations.

Focus on Taxation: Extension of Certain Expiring Provisions

On December 17, 2019, the House of Representatives passed the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (H.R. 1865), with the expectation that the bill will quickly be passed in the Senate and signed into law by the President. As part of the legislation, Congress agreed to reinstate several popular tax breaks that expired at the end of 2017, in most cases through the end of 2020.

Focus on Not-For-Profits: Holiday Cheer (Potentially) Related to the “Parking Tax”

Yesterday the House of Representatives passed HR 1865, Taxpayer Certainty and Disaster Tax Relief Act of 2019 (the Act).

Focus on Construction: Update on Home Builders - News from New Orleans

RubinBrown recently attended the Fall Leadership meeting of the National Association  of Home Builders in New Orleans.

RubinBrown Names Ben Barnes as Denver Managing Partner

RubinBrown, one of the nation’s top 50 accounting and business consulting firms, has named Ben Barnes, CPA, CGMA as Managing Partner of the Denver office.

RubinBrown Relocates Chicago Office Downtown

RubinBrown, one of the nation’s Top 50 accounting and business consulting firms, announces it will relocate its Chicago office to the downtown area on October 28, 2019.

RubinBrown’s Megan Knoblauch Named as a Missouri Society of CPA’s Women to Watch Award Recipient

Megan Knoblauch, CPA, the Partner-In-Charge of RubinBrown’s Assurance Services Group in Kansas City, was awarded a Women to Watch award by the Missouri Society of CPAs (MOCPA).

Focus on Taxation: Changes to Section 382 of the Internal Revenue Code

The IRS recently published proposed regulations that would further reduce a corporation’s already-limited ability to utilize its net operating loss (NOL), credits and interest expense carryforwards after an ownership change.

Focus on Cyber Security: October is Cyber Security Awareness Month

Own IT. Secure IT. Protect IT. October is the 16th Annual National Cyber Security Awareness Month and a great time to update your security awareness training program – or start one.

RubinBrown’s Brandon Loeschner Named as Emerging Leader of Gaming

Brandon Loeschner, CPA, CISA, CGMA, a national practice leader of RubinBrown’s Gaming Services Group, was recently named to Global Gaming Business Magazine’s list of Emerging Leaders of Gaming, 40 Under 40 class.

Three RubinBrown Partners Honored on Inaugural 2019 Who’s Who in Accounting List Presented by the De

Matt Beerbower, CPA, Rhonda Sparlin, CPA and Debbi Warden, CPA, CGMA, MBA, have all been named to the Denver Business Journal’s 2019 Who’s Who in Accounting list. The list recognizes innovators and trailblazers whose expertise and leadership help drive the economic growth of the region.

Focus on State and Local Taxation: Illinois Tax Amnesty Program

On June 5, 2019, Illinois Governor J.B. Pritzker signed legislation enacting a tax amnesty program scheduled to run from October 1, 2019 through November 15, 2019.

Focus on Transportation & Dealerships: Business Interest Limitations and the Transportation Industry

For companies with average revenues over $25 million in the three previous years, the Tax Cuts and Jobs Act (TCJA) had a major impact on the deductibility of business interest expense. Prior to 2018, businesses were allowed to deduct 100% of all interest expense that was incurred.

Focus on Gaming: One Year Since the Overruled Professional and Amateur Sports Protection Act

It has been a little over a year since the Supreme Court overruled the Professional and Amateur Sports Protection Act (PASPA) in May 2018, permitting states across the U.S. to pass regulations that will allow them to offer sports betting.

RubinBrown’s Stephanie Drew Honored with Colorado Society of CPAs Women to Watch Award

Focus on Public Sector: GASB 84 Update

On Thursday June 19th, the Governmental Accounting Standards Board (GASB) issued its Implementation Guide on Fiduciary Activities (guide).

Focus on Public Sector: 2019 OMB Compliance Supplement Update

On July 1, 2019, the Office of Management and Budget (OMB) announced the release of the 2019 OMB Compliance Supplement. The supplement contains the policies and procedures required to be followed by federal, state and local entities in regards to expending federal funding and the procedures required to be performed by auditors when conducting the single audit over these federal programs.

Focus on State & Local Taxation: Missouri Extends Statute of Limitations on Sales and Use Tax Refund

On July 11, 2019, Governor Parson signed Senate Bill 87, which extends the statute of limitations for sales and use tax refunds.

Focus on Assurance: FASB Votes To Propose Delay In Effective Dates Of Four ASUs For Certain Entities

The FASB has voted to propose a deferral of the effective dates for several of its recent standards that would provide at least an additional year to companies that have not yet adopted the standards.