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7 Frequently Asked Questions about Revenue Recognition
Guide Contents: When is the new standard effective? What does the new standard require? What are some of the more significant changes? Are the new ...
Section 199A Rental Real Estate Activity Safe Harbor
The taxation of passthrough income was among the many areas of tax law impacted by the Tax Cuts and Jobs Act. The Act introduced a ...
PCI DSS Compliance: Document Types, Tasks, and Cost
The first step to compiling effective PCI documentation is to define the various types of documents you will need to record. The second step is ...
Intelligent Case Management Software for Insurance Companies
Read this in-depth look at the factors that need to be defined to use this function intelligently.
IDS vs. IPS: How Each System Works and Why You Need Them
While the lines between IDS/IPS have become blurred over time, LBMC highlights some unique differences essential to note.
Section 1031 Like-Kind Exchanges under the TCJA
The TCJA didn't eliminate like-kind exchanges; however, it did eliminate tax-deferred like-kind exchange treatment for exchanges of personal property after December 31, 2017.
What Does the New Qualified Business Income Deduction Mean for You?
To maintain the incentive for individuals to own and operate a pass-through entity, the Act introduced the new Section 199A Qualified Business Income Deduction.
ASC 606: Modernizing Construction Revenue Recognition in Five Steps
It’s time to get ready for the five-step revenue recognition standard. Since the beginning of time, or at least that’s the way it feels, ...
Using Excel to Automate Dynamics GP Data Entry
Although Dynamics GP has a fairly robust application programming interface (API) for importing or updating data, there are certainly times when a specific window is not covered, ...
LBMC Technology Solutions Partners with Bill.com
Tennessee based integration expert adds Bill.com to its partner eco-system to provide automated billing and invoice management capabilities for clients using cloud-based accounting software LBMC ...
Anti-Fraud Controls: Using Reporting Telephone Hotlines
The ACFE reports that organizations without an anonymous hotline suffered 66% higher average fraud losses than those lacking this prevention mechanism.
Financial Accounting Standards Board Update July 2019
Private companies now have until 2021 to follow the new lease accounting rules that public companies adopted earlier this year. The Financial Accounting Standards Board ...