Windes and Allen, Haight & Monaghan Merge

Thursday, September 6, 2018

As many readers may already be aware, Windes and Allen, Haight & Monaghan (AH&M) merged, effective July 16, 2018. The combined firms, practicing under the Windes name, are comprised of more than 165 employees, including 21 partners, with offices in Long Beach, downtown Los Angeles, as well as two offices in Orange County. AH&M has provided a wide range of […]

Qualified Retirement Plans and the New IRC Section 199A

Thursday, September 6, 2018

The Tax Cuts and Jobs Act (TCJA) offers a 20% tax deduction to owners of pass-through entities, such as sole proprietorships, S corporations, or partnerships, provided they meet certain conditions. Contributions to a qualified retirement plan can help entities qualify for the deduction under the new Internal Revenue Code Section 199A (Section 199A) that would otherwise be phased out or eliminated. The […]

Tax Reform Changes Meals & Entertainment Deductions

Thursday, September 6, 2018

The Tax Cuts and Jobs Act (TCJA) made significant changes to the tax deductibility of meals and entertainment, effective January 1, 2018. The stricter limits on meals and entertainment will require companies to update their accounting policies. Before enactment of the TCJA, entertainment was 50% tax deductible as long as there was a substantial and bona fide business purpose. The […]

Guidance for Nonprofit Grant and Contribution Accounting

Thursday, September 6, 2018

The Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-08 that clarifies and improves the scope and accounting guidance concerning contributions of cash and other assets received and made by nonprofits and business enterprises. This ASU seeks to address differences in how nonprofits characterize grants and contracts with government agencies and others as reciprocal transactions (exchanges) or nonreciprocal transactions (contributions). In […]

Rise of the Chatbots

Thursday, September 6, 2018

Chatbots (short for “chatting robots”) have become an increasingly common online feature. They can be found on shopping, banking, medical, and insurance websites by clicking the “Chat Now” button to reveal a Chatbot window. Just as automated phone attendants assist by answering calls and connecting callers to a selected department, Chatbots have the promise to improve customer service through human-like, but automated […]