Get Ready for the New Revenue Recognition Standard

The much-anticipated new standard for recognizing revenue goes into effect in 2019 for non-public companies. That time-frame may lull management into believing they have ample room to tackle the issue. However, feedback from early adopters suggests it takes far more time to absorb the organizational impact than one might think. Word to the wise: get started now! Does this impact your company? Many companies believe the new standard will not impact them because they do not have contracts with customers or because they recognize revenue at the point of sale. However, it is important to understand this standard will apply to all businesses that recognize revenue from customers. A contract by de

Impact of the 2018 Tax Law on Real Estate Owners

Congress has approved sweeping tax cuts and tax reform that have not been tackled by the federal government in over 30 years (since the Tax Reform Act of 1986.). The tax law, formally referred to as "The Tax Cuts and Jobs Act," will go into effect January 1, 2018. This article has the most up-to-date information along with a summary of how the tax law provisions will affect homeowners and real estate investors who own all types of investment property. Although this article generally does not delve into tax issues not associate with real estate, there are many new tax provisions and this is essential information for anyone that owns real estate to understand. Primary Residence Homeowners As a