By Abe Livchitz, Tax Manager
Contractors are unique clients operating in a specialized industry. They are resourceful, creative, thrive working under pressure of tight deadlines and constantly racing to stay ahead of economic downturns. To honor their uniqueness the tax code allows contractors to use two accounting methods that are distinctive to their business. (more…)
By Kay Filler, Principal
More specifically, FASB issued the final guidance on February 25, 2016, but it’s not required for private companies until 2020 for calendar year companies (although earlier adoption-starting now-is permitted). Sounds like a long way off, but not really when considering potential impacts of the dramatically different accounting model for everyday lease agreements.
But first, here’s a summary of key accounting and disclosure components of the new rules: (more…)
By Alex Ho, Tax Manager
Have you received a letter that states something like “Jane (or John) Doe added you as a client through our MyFTB account online service”? Sounds pretty scary, doesn’t it? This would be cause for concern, particularly with the increase in identity theft, and the availability of our personal information on the internet. (more…)
By Mark Sheffield, Principal
The marketplace for funding start-ups and ramp-up companies has been disrupted. Here’s what we see and hear on the street today: (more…)
By Helena Bouron, Audit Manager
There are a lot of wonderful events happening during the spring in Silicon Valley. One event that has raised a lot of interest in the nonprofit communities over the past three years is “Silicon Valley Gives.” Hosted by Silicon Valley Community Foundation, this one day, 24-hour online fundraising event matches local nonprofit organizations with individual donors in a single donation platform. In addition to attracting funds contributed by individual donors to their nonprofit organization of choice participating at the event, nonprofit organizations are also eligible to receive matching grants and prize grants sponsored by Silicon Valley Community Foundation and various other sponsors on this special day. With over $3 million in available grants and prizes, is your organization poised to take a piece of the pie? (more…)
Financial Accounting
FASB Simplifies Reporting for Share Based Payments
Yet another simplification initiative from the Financial Accounting Standards Board (FASB), especially for nonpublic companies, arrives in the form of ASU 2016-09 Improvements to Employee Share-Based Payment Accounting and quite likely offers welcome relief for technology companies around the Silicon Valley. Some of the key simplification measures under this guidance that is effective for annual periods beginning after December 15, 2017 for nonpublic companies and annual periods beginning after December 15, 2016 for public companies are: (more…)
The European Parliament Conference of Presidents unanimously backed setting up a committee to investigate the so-called “Panama Papers.”
More than 11 million documents from a Panamanian law firm were leaked to a German newspaper and subsequently shared with more than 100 other international news outlets, including the International Consortium of Investigative Journalists (ICIJ). The documents allegedly reveal how the world’s politicians and other powerful figures hide their assets offshore and evade taxes. The law firm has denied any wrongdoing. (more…)
