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FASB Votes on Credit Losses, TDRs & Vintage Disclosures
On February 2, 2022, the Financial Accounting Standards Board (FASB or the Board) issued its tentative decisions on the proposed Accounting Standards Update (ASU), Financial
How Mergers and Acquisitions Affect Buyer/Seller 401(k)s
What would happen to your company’s 401(k) plan if you merged with or acquired another company? It’s a question that’s coming up more and more
NCUA’s 2022 Supervisory Priorities for Credit Unions
The National Credit Union Administration (NCUA) has released its annual letter to credit unions containing supervisory priorities for 2022. While many of the NCUA’s 2022
Why You Should Extend Your Partnership’s Tax Return Each Year
The Bipartisan Budget Act (BBA) of 2015 changed the way partnerships make adjustments to their previously filed tax returns for tax years beginning after December
Safeguards Rule – Updates for Credit Unions & Auto Dealers
As the turn of the year settles, financial institutions should revisit their information security obligations under the Gramm-Leach-Bliley Act Safeguards Rule (Safeguards Rule). The Federal
Using Inventory Cost Management to Improve Profitability
For manufacturers, inventory cost management plays an integral role in successfully maintaining a business strategy that fosters financial growth. When you have an effective overall
The Massachusetts Chapter 62F Refund: Who Gets One & Why?
Thanks to a relatively obscure state law enacted in 1986, Massachusetts taxpayers may soon receive an unexpected financial break. Until now, the law had not
The Inflation Reduction Act: What Taxpayers Need To Know
The Inflation Reduction Act, legislation aiming to lower inflation and reduce the deficit over the next decade, became law in August. Here’s a look at
Is Your Professional Services Firm Attracting Top Talent?
According to the US Bureau of Labor Services (BLS), things are looking up in terms of employment gains in the business and professional services sector,
4 Dealership Accounting Practices That Eat Away At Profit
If your vehicle has poor fuel economy, you’ll still make it to your destination, but it will be costly. The same is true for auto
Federal Student Loan Relief & Programs Available in Maine
As the expiration of pandemic-related student loan relief was nearing once again, the Federal Government and some states stepped in to extend further relief to