Virtually all entities will be affected to some extent by the new revenue recognition guidance (ASU 2014-09), Revenue from Contracts with Customers (Topic 606) – even nonprofit organizations. Read more in the following RSM guidance. http://rsmus.com/pdf_download/wp_changes-for-nfp-revenue-recognition.pdf

Faced with differing standards for investment advisers and brokers, the SEC is preparing a consistent standard for both. SEC chair Walter Clayton has said that clarity and consistency are key to regulating areas supervised by more than one agency. This appears to be a key priority for the SEC chairman. Clayton’s work on the fiduciary…

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With the new tax reform recently being passed, taxpayers are wondering what they can do to plan and save on taxes for 2017. One idea that is starting to make the rounds is to pre-pay property taxes for the 2018 -2019 property tax year in 2017. The Oregon Department of Revenue recently released guidance on…

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Important Tax Update

In the last few days we have seen one of the largest tax law reforms in thirty years, make its way through congress and is headed to the President’s desk to sign. The new tax reform will make fundamental changes in the way you, your family and your business calculate your federal income tax bill,…

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Now that we are in the middle of the summer and busy with summer activities, you may or may not have heard that the 2017 Oregon legislative session has ended. Is some ways it has been a busy year for the Oregon legislators. Below is a summary of the significant business law changes, as well…

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Change is on the horizon for nonprofits in the form of the Financial Accounting Standards Board’s (FASB) Accounting Standards Update (ASU) 2016-14, Presentation of Financial Statements for Not-for-Profit Entities. Released in August 2016, ASU 2016-14 will result in significant changes to financial reporting and disclosures, leaving some wondering how to begin revamping their processes, procedures,…

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