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Background In August of 1970, the Accounting Principles Board (APB) issued Opinion 16: Business Combinations to set the standards for accounting for business combinations. Under APB 16, there were two
As cloud computing became more popular, businesses took different approaches to how they accounted for it on their financial statements. But, as the percentage of businesses using cloud products increased,
Grossman Yanak & Ford LLP (GYF), a regional certified public accounting and consulting firm based in downtown Pittsburgh, is pleased to announce that Mark D. Wolstoncroft, CPA has been named
Section 199A, Qualified Business Income, which was added to the federal tax law by the Tax Cuts and Jobs Act enacted at the end of 2017, is one of the
One of the most controversial provisions of the Tax Cuts and Jobs Act, enacted in December, 2017, was the cap imposed on the itemized deduction for individuals associated with the
The Internal Revenue Service announced in IRS Notice IR-2019-157 that it would send time-limited settlement offers to certain taxpayers who participated in abusive micro-captive insurance transactions and are under audit.
A recent decision in the Connecticut appellate court found the trial court “double dipped” when it divided the marital assets and calculated spousal support in the case Oudheusden v. Oudheusden.
Recently, the United States Department of Labor (DOL) has been extremely aggressive in challenging transactions involving Employee Stock Ownership Plans (ESOPs). There are numerous current DOL investigations of ESOP transactions,
Grossman Yanak & Ford LLP was honored as one of Pittsburgh’s “Top Work Places” for the ninth consecutive year! Evaluation for the awards is based upon results of employee surveys conducted by
With the ups and downs of the financial markets over the last several weeks, it seems that political conversation has turned to the consideration of additional tax cuts as a
A fundamental tenant of taxation under the United States Internal Revenue Code is that taxable income includes “all income from whatever source derived”. Thus, under the tax law, all sources
