Tax Bill Soon to be Signed Into Law, but Some Concerns for Banks Remain
The tax legislation that has been approved by both the House and Senate, will soon be on President Trump’s desk to sign. Known as the Tax Cuts and Jobs Act, the bill is set to make sweeping changes to the tax code for both businesses and households.
Is It Time For Crypto-Currencies To Be Regulated?
Concerns over cryptocurrencies (e.g. bitcoin and ethereum) range from tax evasion, money laundering, terrorism financing, to investor fraud. The United Kingdom has fast-tracked a proposal to update existing European Union (EU) wide anti-money laundering and counter-terror financing regulations to specifically address cryptocurrencies. A significant change in the EU regulatory environment may force the U.S. to increase its oversight as well.
MBAF Places First in DBR Best of Survey
MBAF is honored to have been voted #1 in four categories in Daily Business Review’s “Best of 2017” Survey: best local accounting firm that provides overall litigation support, best local accounting firm that provides real estate support, best local provider of forensic accounting, and best local provider of business valuation.
Tip of the Iceberg – Uncovering Hidden Liabilities
A borrower’s financial statements may look good, but they might not provide a full picture of the business’s financial health. It’s important for lenders to be aware that what’s undisclosed could be just as significant as the disclosures. This article highlights the need for lenders to be alert for misrepresentations or the failure to fully account for both assets and liabilities on the balance sheet, whether they’re merely unrecorded or deliberately hidden.
Game, Set, Match: How to Assess a Business’s Game Plan
When assessing the short and long-term viability of commercial borrowers, lenders have many tools at their disposal, including business plans. A business plan provides essential information on how management expects the company to grow and what strategies it expects to use to achieve its goals. This article provides some important questions to consider when examining borrowers’ business plans.