Blog | Albin Randall & Bennett
Recent Articles
Implementing AI in an Auto Dealership – How to Get Started
Artificial intelligence (AI) has become an increasingly prevalent topic in the automotive dealership industry and seems to be one of the current “disruptors” in the
Navigating Lessee Lease Modifications and Amendments
Overview of ASC 842 The introduction of Accounting Standards Codification (ASC) 842 significantly transformed lease accounting under U.S. Generally Accepted Accounting Principles (GAAP). This update
BOI Update: Federal Court Halts Beneficial Ownership Reporting Requirements
UPDATED 12/27/24 The enforcement of Beneficial Ownership Information (BOI) reporting requirements remains in flux, with ongoing rulings and deadline changes continuing to alter its status:
Understanding Maine’s New Sales Tax Rules for Lease and Rental Transactions
Starting January 1, 2025, Maine is implementing significant changes to its sales tax laws, specifically affecting lease and rental transactions. These tax law changes attempt
Disaster Planning for Auto Dealerships: Safeguarding Your Business from Natural Emergencies
Protecting your business is critical, especially in the face of natural disasters such as hurricanes, floods, wildfires, and tornadoes. According to FEMA, about a quarter
Introducing IRS Form 15620: Your Ticket to Streamlined Savings on Equity Compensation Tax
On November 7, 2024, the IRS introduced Form 15620 to standardize the Section 83(b) election process for taxpayers receiving unvested property such as restricted stock.
Life as an ARB Accountant During Busy Season
Considering a career in public accounting? You may have a lot of questions about what the work actually involves—especially during “Busy Season.” How do accountants
Thriving Independently: A Credit Union’s Guide to Sustainable Growth
The credit union industry has experienced a wave of mergers in recent years, often driven by unprecedented growth, economic pressures, regulatory challenges, or member attrition.
Depreciation Made Simple: Bonus, Section 179, MACRS, and Straight-Line Explained
When you buy a heavy vehicle for your business, choosing the right depreciation method can significantly impact your taxes. Depreciation methods not only influence your
Maine Employers: Certified Private Plan Options Now Available for Paid Family and Medical Leave
Maine’s Paid Family and Medical Leave (PFML) program has certified 12 insurance policies for use as private plan substitutions. For Maine employers considering alternatives to
TCJA Expiration: Seven Ways U.S. Manufacturers Will Be Affected and How to Prepare
Since the enactment of the Tax Cuts and Jobs Act (TCJA) in 2017, U.S. manufacturers have experienced significant economic growth. The law lowered corporate tax