On December 10, 2018, the IRS issued long-awaited guidance on the application of one of the new tax provisions added by the Tax Cuts and Jobs Act, Section 274(a)(4). This provision under the Act is effective January 1, 2018. Notice 2018-99 provides guidance for taxable entities on how to compute the non-deductible amounts related to parking provided to employees under IRC Section 274(a)(4).
Learn moreThe 2017 Tax Cuts & Jobs Act grants employers who voluntarily offer qualifying employees up to 12 weeks of paid family and medical leave annually, a tax credit for a portion of wages paid in 2018 and 2019. In order to be eligible for the credit, the employer’s written policy containing specific language must be in place before the leave is taken.
Learn moreOn December 10, 2018, the IRS issued long-awaited guidance on the application of two new tax provisions added by the Tax Cuts and Jobs Act. The provisions under this Act are effective January 1, 2018. Notice 2018-99 provides guidance for tax-exempt entities on how to compute the additional Unrelated Business Taxable Income (UBTI) generated related to parking provided to employees under IRC Section 512(a)(7).
Learn moreThe Credit for Increasing Research Activities, also referred to as the “R&E”, “R&D” or “Research” tax credit, incentivizes companies to invest in people and technology that can lead to growth in revenues and profitability, as well as promote job retention and expansion. The credit focuses on three types of qualifying expenditures: wages, supply costs and contract research.
Learn moreEffective December 1, 2018, the Colorado Department of Revenue will begin enforcing new emergency sales tax sourcing rules that will significantly impact all retailers doing business in Colorado. The new rules require all Colorado taxable sales to be taxed at the effective rate of the jurisdiction in which property is transferred into the possession of a purchaser. While the rule has no effect on purchases that occur at a retailer’s business location, the big change occurs when items are shipped to Colorado customers.
Learn moreOn August 20, 2018, the Securities and Exchange Commission (SEC) adopted amendments to SEC Rule 15c2-12, which identify two new events requiring disclosure with the Municipal Securities Rulemaking Board (MSRB) via the EMMA system within 10 business days of their occurrence.
Learn moreThe Internal Revenue Service (IRS) issued proposed regulations on August 23, 2018 that could affect charitable contribution deductions that individual taxpayers are able to claim as itemized deductions for income tax purposes.
Learn moreWith the rapid pace that technology evolves, understanding how those changes can impact business is important.
Learn moreThis year marked the 26th annual DefCon, the annual hacker conference attended by thousands of people ranging from high school students to well-known security researchers and infamous personalities in the industry.
Learn moreOn August 9, 2018 the IRS released guidance on new Code Section 199A, commonly referred to as the “pass-through entity deduction”. Code Section 199A allows business owners to deduct up to 20% of their qualified business income (QBI) from partnerships, S corporations, trusts and sole proprietorships.
Learn moreIn recent weeks, Missouri Governor Mike Parson signed a number of bills into law, including one that will modify certain existing tax credits and create new tax credits to encourage donations to certain social service organizations.
Learn moreThe Tax Cuts and Jobs Act (the Act), enacted in late 2017, was the most significant change in the tax law in over 30 years. Several provisions of the Act could have a direct or an indirect impact on not-for-profit/tax-exempt entities (exempt organizations).
Learn moreIn the 5-4 decision of South Dakota v. Wayfair, Inc., the Supreme Court of the United States ruled South Dakota’s economic nexus law constitutional. The decision has the potential to require online retailers and other remote sellers to collect and remit sales tax to states in which they do business, regardless of their physical presence within those states.
Learn moreThe General Data Protection Regulation (GDPR) went into effect on May 25, 2018. With fines as high as €20 million or 4% of global revenues, the GDPR cannot be ignored. How do you know if the regulation applies to your organization and how can you comply?
Learn moreWeb application vulnerabilities are a top target for cyber criminals. Websites, applications, servers and supporting infrastructure are exposed to the internet via web applications and thus are under constant attack. Many organizations perform network vulnerability scans on internet facing networks and systems, but often ignore web applications. The tests included in the network vulnerability scans generally do not test web applications and certainly do not perform deep vulnerability testing inside the application.
Learn moreOn January 12, 2018, the Supreme Court of the United States granted a petition for certiorari in the case of South Dakota v. Wayfair, Inc., a case to determine the constitutionality of a South Dakota statute obligating businesses with no physical presence in the state to collect and remit sales tax.
Learn moreOn February 9, President Trump signed the Bipartisan Budget Act of 2018 into law. The Act contains an extension of over 30 otherwise expired tax breaks. The following is a listing to the tax provisions extended by the Act through 2017 (unless otherwise noted).
Learn moreThe implementation of the new standard is expected to be a significant undertaking for most entities. Even if you do not expect a significant change in the accounting for revenue, the comprehensive nature of the change will require companies to look at their revenue with a clean sheet of paper approach, assessing each of the five steps for all significant revenue streams.
Learn moreRubinBrown Cyber Security Center of Excellence – Security You Need to Know. Testing your cyber security on a regular basis is part of sound strategy to identify and eliminate risks in the environment. Penetration testing, or "white hat" hacking, tests the external and internal network to assess the effectiveness of controls. Whether you are demonstrating due care in addressing cyber security threats or addressing compliance requirements, penetration testing is a core component of regular security assessment efforts.
Learn moreOn July 1, 2017, the Colorado Department of Revenue began enforcing new use tax notice and reporting requirements relating to retailers that make sales into Colorado but do not collect state sales tax (non-collecting retailers).
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