To Be or Not To Be a Resident: Isn't That The Question?

Sep 27, 2017

Home is where the heart is, or is it? As far as the IRS 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’re a high net worth ...

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FASB Proposes Improvements to Accounting Guidance for Reorganization

Sep 25, 2017

On 20 September 2017, the FASB issued a proposed ASU, Consolidation – (Topic 812): Reorganization. The FASB is issuing this proposed ASU in response to stakeholders’ concerns that the consolidation guidance in Topic 810, Consolidation, as current ...

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Federal Reserve Publishes FAQs for New CECL Accounting Standard

Sep 21, 2017

Recently, The Financial Accounting Standards Board (FASB), issued a new accounting standard, which introduced the current expected credit losses methodology (CECL) for estimating allowances for credit losses. The new accounting standard was introduce ...

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GAAP and Post-Disaster Audit and Accounting Procedures

Sep 19, 2017

Download the PDF version of this advisory As Florida residents and business owners who are still recovering from Irma well know, hurricanes are large-scale, destructive events that can inflict damage over a large area with little warning. Thousands h ...

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FAQs on Taxpayer Relief – Hurricane Irma/Harvey

Sep 18, 2017

Hurricane Harvey and Irma have left a wake of not only destruction, but confusion when it comes to taxes. The IRS has expanded taxpayer relief programs and other assistance. MBAF is here to help you understand the tax implications and programs now in ...

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IRS Gives Tax Relief to Victims of Hurricane Irma; Like Harvey, Extension Filers Have Until January 31, 2018 to File

Sep 13, 2017

Hurricane Irma victims in parts of Florida and elsewhere have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service announced Tuesday, Sept. 12th. This relief parallels th ...

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As Hurricane Irma Approaches, It Is Important to Prepare for Recovery as Much as Safety

Sep 6, 2017

Residents and business owners in Florida are no strangers to hurricanes and hurricane preparedness. While most of us know what to do to keep ourselves, our employees, and the physical structures of our places of business as safe as possible in prepar ...

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How Secure is SaaS Compared to On-Premises Software?

Sep 4, 2017

In the past, a widely held belief among business owners was that cloud-hosted applications were less secure than traditional, on-premises software. Those people would be right given that cloud services were not properly managed years ago and that the ...

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FASB Issues Guidance to Improve Accounting for Hedging Activities

Sep 1, 2017

On 28 August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. The FASB issued this ASU to simplify current hedge accounting requirements in U.S. GAAP, which curren ...

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Kids Off to College? Have Them Sign a Power of Attorney

Aug 31, 2017

Imagine this scenario. You are awakened by a phone call in the middle of the night. It is someone alerting you that your son or daughter, who is away at college, has been in an accident. They are in the hospital in critical condition. Of course, you ...

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