According to most accounts, Friday’s massive cyberattack hit as many as 200,000 victims in at least 150 countries and that number could grow. Cybersecurity experts say the spread of the ransomware virus — named WannaCry – which denied users access to their computers has been slowed down, but it has not been stopped. The quick spread of the virus, is another reminder of how crucial it is to keep computers properly patched.
During the first six months of President Trump’s administration, the focus on deregulation has been centered on repealing or revamping Dodd-Frank. The rhetoric driving the deregulation push is job creation and economic growth. However, if the true goal of deregulation is to spur economic activity and create jobs, then President Trump and his administration may want to peer further into history.
MBAF Named Top Accounting Firm by South Florida Billings
The South Florida Business Journal listed MBAF as the top “Accounting Firm by South Florida Billings” and one of the top “Accounting Firms by South Florida CPAS”. MBAF’s gross billings for 2016 totaled $94 million.
It does not take a major disaster to seriously impact your business, even a loss of power that shuts down your phone systems or order processing for a day could lead to incalculable lost revenue. MBAF has some basic tips to help you be prepared regardless of the type or size of your business.
FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606 or ASC 606). This ASU introduces a new comprehensive model for revenue recognition, which will replace virtually all of the previously existing revenue recognition guidance in U.S. GAAP. This publication provides you with a convenient summary of the new guidance and key differences between current GAAP and Topic 606.
Canada and US Sign Agreement for Exchange of CbC Tax Reports
Canada and US entered into a new “competent authority agreement” (CAA) to exchange country-by-country (CbC) reports. CbC reports are designed to help both the IRS and its Canadian equivalent better monitor the dealings and tax affairs of multinational enterprises that operate in their respective countries. But, what is the stated goal of the CAA and can it be used as a substitute for a transfer pricing analysis?
Home is where the heart is, or is it? As far as the tax man is concerned, where you choose to hang your hat, may not be home, or your “residence.” The concept of “domicile” can be particularly complex, especially if you’ ...
Congress recently enacted significant changes to partnership audit and adjustment rules. The changes are expected to dramatically increase the audit rates for partnerships and will require partners to carefully review, if not revise, their partnershi ...
Seniors, and anyone receiving Social Security (SSA) benefits are warned not to fall prey to a recent scam resulting in the theft of Social Security checks. In a warning issued earlier in July, the SSA’s Office of the Inspector General said peop ...