New-and-improved accounting rules for common control leases
On March 27, 2023, the Financial Accounting Standards Board (FASB) published narrowly drawn amendments to the lease accounting rules. The updated guidance clarifies issues that are relevant to rental agreements between businesses that have the same owner.
SEK named Best Accounting Firm in the Tristate
SEK, CPAs & Advisors has been recognized as Best Accounting Firm in the Tristate for 2023 by VerStandig Media.
Your nonprofit probably won’t be audited by the IRS, but if it is …
Despite recent accusations that the IRS targets certain types of tax-exempt organizations for audit, not-for-profit audits generally are rare. That’s because most nonprofits owe no or very little tax.
The tax rules for donating artwork to charity
If you’re an art collector, you may wonder about the tax breaks available for donating a work of art to charity. Several different tax rules may come into play in connection with such contributions. Basic rules
Demystifying deferred taxes
Deferred taxes are a confusing topic — and the accounting rules for reporting these items often seem to defy the logic of real-world economics. Here’s a brief overview to help clarify matters. What are deferred taxes?
Matthew Detar, CPA joins SEK as Member of the Firm
SEK, CPAs & Advisors welcomes Matthew Detar, CPA as a new Member of the Firm, effective April 1, 2023.
Do you need to add users in QuickBooks Online?
QuickBooks Online allows you to give multiple users access to your account. Here’s how to set them up.
Help guide your family with a road map for your estate plan
No matter how much effort you’ve invested in crafting an estate plan, your will, trusts and other official documents may not be enough. Consider also drafting a “road map.” Essentially, it’s an informal letter that guides your family in executing your plan according to your wishes.
Nonprofits: 4 ratios worth watching
To control your not-for-profit’s expenses and improve operating efficiency, you need to keep an eye on the numbers. This should come as no surprise. But which measures are important?
How businesses can use stress testing to improve risk management
If you’ve been following the news lately, you’ve surely heard or read about the sudden rise in concern about the banking industry.