#audit

Audit

Independent audit and assurance engagements — SOC 2, financial statement audits, internal controls testing, evidence collection, and audit readiness for service organizations and growing businesses

127 публикацииВижте всички етикети Обратно към всички публикации

16 май 2026 г.12 минути четене

Step Transaction Doctrine: How the IRS Collapses Multi-Step Tax Plans

The step transaction doctrine lets the IRS treat a sequence of formally separate steps as one taxable transaction. This guide explains the three tests courts apply — end result, mutual interdependence, and binding commitment — the landmark cases (Gregory v. Helvering, Court Holding, Kimbell-Diamond), the 2026 transactions most exposed (1031 drop-and-swaps, pre-sale entity conversions, gifts before the estate exemption sunset), and the documentation habits that keep multi-step plans defensible.

Mike Thrift

tax-planningtax-compliancereal-estate

15 май 2026 г.13 минути четене

ASC 815 Hedge Accounting for Private Companies: Document Swaps and Forwards Without Wrecking Earnings

ASC 815 requires derivatives to be marked to market through earnings unless you elect hedge accounting at inception. A guide to the three hedge models, the simplified approach for private companies, and the documentation mistakes that turn a clean economic hedge into quarterly earnings volatility.

Mike Thrift

accountingfinancial-reportingrisk-management

15 май 2026 г.13 минути четене

Form 8275 Disclosure Statement: Defeating the 20% Section 6662 Accuracy-Related Penalty

Form 8275 lets taxpayers disclose debatable tax positions with the IRS to defeat the 20% Section 6662 accuracy-related penalty when a position has at least a reasonable basis. Covers when to use Form 8275 versus Form 8275-R, what counts as adequate disclosure, timing rules, and Section 6694 preparer-penalty protection.

Mike Thrift

tax-compliancetax-preparationcpa

15 май 2026 г.13 минути четене

Functional Expense Allocation for Nonprofits: Form 990 Part IX, ASU 2016-14, and How to Defend Your Program Ratio

A practical guide to splitting nonprofit costs across program, management, and fundraising — covering ASU 2016-14 requirements, Form 990 Part IX, time studies, square-footage methods, the three-test joint cost rule, and the written cost allocation plan auditors expect to see.

Mike Thrift

nonprofitexpense-allocationfinancial-reporting

15 май 2026 г.15 минути четене

Section 199A Rental Real Estate Safe Harbor: How Landlords Log 250 Hours, Avoid the Triple Net Lease Trap, and Lock In the 20% QBI Deduction

Revenue Procedure 2019-38 lets landlords treat rental real estate as a trade or business for the 20% QBI deduction if they log 250 hours of qualifying services, keep contemporaneous records, avoid triple net leases, and file a signed election — now permanent under the 2025 One Big Beautiful Bill Act.

Mike Thrift

real-estatetaxtax-planning

15 май 2026 г.15 минути четене

Section 4958 Intermediate Sanctions: How Nonprofit Boards Avoid 25% and 200% Excise Taxes on Excess Benefit Transactions

Section 4958 imposes 25% and 200% excise taxes on excess benefit transactions between public charities and disqualified persons, with a 10% manager tax on knowing approvers. Following three procedural steps creates a rebuttable presumption of reasonableness that shifts the burden of proof to the IRS.

Mike Thrift

nonprofittax-complianceexecutive-compensation

15 май 2026 г.13 минути четене

Section 6603 Deposits: Stop IRS Interest on Disputed Tax Without Giving Up Appeal Rights

A Section 6603 deposit freezes IRS underpayment interest on contested tax while preserving your appeal, Tax Court, and withdrawal rights. This guide covers the written designation under Rev. Proc. 2005-18, when a deposit beats a payment, LIFO withdrawal mechanics, and the procedural traps that turn planned deposits into accidental payments.

Mike Thrift

taxtax-compliancetax-planning

15 май 2026 г.13 минути четене

Section 6603 Deposits: Stop IRS Interest Without Conceding the Audit

A Section 6603 deposit halts interest on a disputed IRS liability without paying the tax, conceding the position, or forfeiting Tax Court access. Revenue Procedure 2005-18 spells out the mechanics—a written designation that names the tax, year, amount, and basis for disputability.

Mike Thrift

taxtax-compliancetax-planning

15 май 2026 г.14 минути четене

Segregation of Duties When You Only Have Three Employees: A Practical Internal Controls Playbook for Small Businesses

A working blueprint for splitting authorization, custody, recording, and reconciliation across a three-person business — including the compensating controls that stop the $141,000 median fraud loss that hits small companies hardest.

Mike Thrift

small-businessfraud-preventionbookkeeping

14 май 2026 г.16 минути четене

SSARS 21 Compilations, Reviews, and Preparations: Picking the Right CPA Engagement Without Overpaying for Assurance

A practical guide to AR-C 70 preparation, AR-C 80 compilation, and AR-C 90 review engagements — what each delivers, typical fee ranges, and how private companies match the right tier to lender, surety, and investor requirements without paying for unused assurance.

Mike Thrift

cpacompliancefinancial-statements

14 май 2026 г.13 минути четене

ASC 740 Income Tax Provision for Private Companies: A Controller's Playbook for Current, Deferred, and the New ASU 2023-09 Disclosures Effective 2026

How private-company controllers build the ASC 740 income tax provision—current and deferred components, valuation allowances, UTBs, and the new ASU 2023-09 disclosures that take effect for fiscal years beginning after December 15, 2025.

Mike Thrift

taxfinancial-reportingcompliance

14 май 2026 г.13 минути четене

ASC 740 for Private Companies: A 2026 Guide to the Income Tax Provision and ASU 2023-09

How private company controllers can build a clean ASC 740 income tax provision in 2026 — current and deferred tax, Schedule M-1 reconciliation, valuation allowances, uncertain tax positions, and the new ASU 2023-09 disaggregated income-taxes-paid and qualitative rate disclosures.

Mike Thrift

taxtax-compliancefinancial-reporting

Започни безплатно→Документация