Perkins Publications

Tax Bulletin September 2018 – Tax Reform – Decoding The Qualified Business Income Deduction

Tax Reform & Section 199A: What The Qualified Business Income Deduction Means To Business Overview The 2017 Tax Cuts and Jobs Act included many provisions of interest including the Section 199A deduction (also known as the deduction for qualified business income) applicable to pass-through entities…

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Tax Bulletin March 2018 – Tax Cuts? What They Mean for the Real Estate Industry

Tax Cuts? What They Mean for the Real Estate Industry Overview In light of the recent Tax Cuts and Jobs Act (TCJA) that was passed this past December, Perkins & Co’s real estate team hosted a Real Estate Connection event for leaders in the industry…

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Tax Bulletin January 2018 – Mobility Implications of U.S. Tax Reform

Executive Summary: Mobility Implications of U.S. Tax Reform Overview This Executive Summary focuses on the implications for corporate mobility programs of the U.S. tax reform signed into law by the President on December 22, 2017.

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Beyond Income Tax Returns 2017 Edition

As we, at Perkins & Co, spend the last days of 2017 preparing for the upcoming filing season, we want to ensure you know about information reporting requirements that you may need to comply with, in addition to filing income tax returns. We summarized some…

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Tax Bulletin December 2017- Individual Tax Updates

Agreement on Tax Reform – Impact to Individuals Overview On Friday, December 15, a joint conference committee comprised of House and Senate members released an agreed-upon version of the Tax Cuts and Jobs Act (the “Act”). The Act provides the most comprehensive update to the…

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Tax Bulletin December 2017- Federal Tax Updates

Conference Agreement Reached Setting Stage for Enactment Before the New Year Overview This Bulletin discusses the major provisions contained in the conference report. It is important to note that most provisions in the bill expire after December 31, 2025, to comply with Senate budget reconciliation…

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BDO Example ASC 606 Adoption Timetable

This timetable example covers: 1) Understanding, Scoping and Planning 2) Technical Analysis and Assessment 3) Testing and Implementation 4) Financial Reporting and Disclosure 5) Post Adoption

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ASC Topic 606 – Revenue from Contracts with Customers

A practice aid from BDO’s National Assurance Practice that discusses revenue from contracts with customers being recognized based on the application of a principle-based ‘five step’ model: Identify the Contract Identify the Performance Obligations Determine the Transaction Price Allocate the Transaction Price to Each Performance Obligation…

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Tax Bulletin July 2017: Privilege Tax for Dealers

Oregon Transportation Deal Creates New “Privilege Tax” for Dealers Overview On July 6th, 2017 the Oregon legislature passed the $5.3 billion transportation package (Oregon House Bill 2017) which is expected to be signed into law by Gov. Kate Brown. The bill, in part, raises revenue…

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BDO Nonprofit Standard – Spring 2017 Newsletter

Topics Include: Public Charities and Private Foundations—What’s the Difference? Accounting and Financial Reporting for Other Postemployment Benefit Plans. IRS Stresses New Processes at Annual Tax Exempt and Government Entities Meeting

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Beyond Income Tax Returns 2016 Edition

As we, at Perkins & Co, spend the last days of 2016 preparing for the upcoming filing season, we want to make sure you know about information reporting requirements with which you may need to comply in addition to filing tax returns. We summarized what’s new in…

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BDO EBP Commentator – Winter 2016 Newsletter

Topics Include: FAB’S ASU 2015-12 Simplifies Financial Reporting for EBPs Changes to the 2015 ERISA Annual Reports (Form 5500) Now is the Time for a Regulatory Compliance Check for 403(b) Plans

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BDO EBP Commentator – 2016 Cost of Living Adjustments Newsletter

The Internal Revenue Service announces that there would be no cost-of-living adjustment (COLA) in 2016 based on findings from the Bureau of Labor Statistics that there was no increase in the third quarter Consumer Price Index for Urban Wage Earners and Clerical Workers over the…

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BDO EBP Commentator – Summer 2015 Newsletter

Topics Include: Noteworthy Changes for 2014 ERISA Annual Reports IRS Revisions for Plan Corrections Under EPCRS Evaluating Sponsor Fiduciary Responsibilities

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Beyond Income Tax Returns 2015 Edition

As we, at Perkins & Co, spend the last days of 2015 preparing for the upcoming filing season, we want to make sure you know about information reporting requirements with which you may need to comply in addition to filing tax returns. We summarized what’s new in…

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Building Value Newsletter Volume XII, Issue III

A Business Valuation Newsletter for Business Owners and the Professionals Who Advise Them Topics Include: Reaching a Conclusion of Value: Reflections on the Use of Market Data Capital Structure of Private Firms

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BDO Manufacturing Output – Winter 2014 Newsletter

Topics include: Considering M&A Before You Buy

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BDO Nonprofit Standard – Winter 2014 Newsletter

Topics include: Higher Education Update: Three Top Trends Impacting the Sector Institute Professional Profile Bitcoin in the Charitable Sector: What Nonprofits Need to Know New Form 1023-EZ AICPA to Launch New Not-For-Profit Member Section Awkward Board Conversations About Pay – Can We Talk?

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BDO Tech – Winter 2014 Newsletter

Topics include: Seeking SAAS – What Do Software Companies Need to Know? Tech IPOs and M&A Are Here to Stay Are You Missing Out on Section 199 Deductions?

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Building Value Newsletter Volume XII, Issue II

A Business Valuation Newsletter for Business Owners and the Professionals Who Advise Them Direct and Indirect Patent Infringement: Damages Issues and Licensing Topics Include: Direct and Indirect Infringement: Damage Issues and Licensing Current Issues: Private Equity and Hedge Funds 

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Beyond Income Tax Returns 2014 Edition

As we, at Perkins & Co, spend the last days of 2014 preparing for the upcoming filing season, we want to make sure you know about information reporting requirements with which you may need to comply in addition to filing tax returns. We summarized what’s new in…

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Tax Bulletin December 2014: Final Tangible Property Regulations

Effective for tax years beginning on or after January 1, 2014, the final tangible property regulations mandate sweeping changes for amounts paid to acquire, produce, or improve tangible property. These complex regulations will impact virtually all taxpayers for the upcoming filing of calendar year 2014 income…

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2015 Year End Tax Planner

To help you make the most of the current tax breaks, our tax guide offers tips for minimizing your tax liabilities and maximizing your potential savings. In addition to year-round pointers, we offer suggestions for incorporating tax-efficient strategies into your long-term plans. By coordinating your tax…

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Tax Bulletin December 2014: Final TPRs: Their Impact on Dealerships

Effective for tax years beginning on or after January 1, 2014, the final tangible property regulations mandate sweeping changes for amounts paid to acquire, produce, or improve tangible property. These complex regulations will impact virtually all automotive dealerships for the upcoming filing of calendar year…

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The Importance of Hiring a Quality Auditor

The AICPA Employee Benefit Plan Audit Quality Center (EBPAQC) has prepared the advisory to provide you, the plan sponsor, administrator, or trustee with an understanding of the importance of hiring a quality auditor to perform your employee benefit plan financial statement audit, and information to…

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Building Value Newsletter Volume XII, Issue I

A Business Valuation Newsletter for Business Owners and the Professionals Who Advise Them Shareholder/Member Agreement’s Influence on Value: Should We Be Bound by Them? Our office has recently been involved in several valuation cases where shareholder/member agreements between an owner-spouse and the company have been…

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BDO Nonprofit Standard – Fall 2014 Newsletter

Topics include: Current Trends in the Nonprofit Sector The ALS Ice Bucket Challenge Offers Key Lessons for Nonprofit Fundraising Models Charity Auctions: Reporting and Tax Rules #Nonprofits #SocialMedia and #Taxes: Is Your Organization Protected? Decision Process Regarding Office Space for Nonprofits

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FCG Valuation Case E-Flash Richmond v. Commissioner

Authored by Dustin Crespin and Chris D. Treharne, ASA, MCBA, CVA of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 16:1 Estate of Helen P. Richmond, Deceased, Amanda Zerbey, Executive Petitioner v. Commissioner of Internal Revenue, Respondent  TC Memo 2014-26, Docket No. 21448-09,…

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Quick Reference Guide to Divorce-Related Tax Matters

The Quick Reference Guide to Divorce-Related Tax Matters contains a detailed chart that summarizes many of the tax issues that arise during divorce proceedings and the challenges that may affect family law practitioners. Topics covered include: Filing status Exemptions Mortgage interest Retirement plans/IRAs Stock options and…

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BDO Real Estate Monitor – Summer 2014 Newsletter

Topics Include: Top Risks for REITs in 2014 Hotels: Moving Into Buildings In-Store Leasing by Department Stores Reverse Mortgages – Borrower’s Death PErspective in Real Estate

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BDO Manufacturing Output – Summer 2014 Newsletter

Topics Include: What Makes a Good Partner? Why Align? Path to a Powerful Partnership Checklist

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BDO EBP Commentator – Summer 2014 Newsletter

Topics Include: Documentation Retention for Employee Benefit Plans Does Your Retirement Plan Need to Consider a Possible FBAR Filing? ERISA and AICPA Employee Benefit Plan Audit Quality Center Celebrate Milestones

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BDO Nonprofit Standard – Summer 2014 Newsletter

Topics include: Public/Private Partnerships Five Data Security Tips for Colleges and Universities NONPROFIT FACTS: Did you know Property Tax Exemptions on the Radar

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BDO Real Estate Monitor – Spring 2014 Newsletter

Topics include: Subprime Home Loans – A New Chapter Buyers Dilemma – A Lack of Quality Assets PErspective in Real Estate A Low-Risk Real Estate Portfolio Green Lease Leaders Program: Recognition

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Perkins & Company, P.C. Client Collaboration Portal Access Agreement

The portal provides Perkins & Co’s clients and authorized employees of Perkins & Co’s clients with access to information displayed on the portal for inquiries and deliveries of documents and communications for their account only. The information, documents and communications on the portal are provided…

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BDO Manufacturing Output – Spring 2014 Newsletter

Topics include: Considering a Sale Pricing and Positioning Executing the Sale

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Importance of Internal Control

The AICPA Employee Benefit Plan Audit Quality Center has prepared this advisory to assist you as a plan sponsor, administrator, or trustee in understanding how internal control over financial reporting is critical to your plan. This advisory discusses: Why internal control is important to your plan The basics…

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Limited Scope Audits Of Employee Benefit Plans

The AICPA Employee Benefit Plan Audit Quality Center has developed this primer to provide a general understanding of limited scope audits of employee benefit plans under the Employee Retirement Income Security Act of 1974 (ERISA). This document provides a general description of the statutory and regulatory basis for…

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Employee Benefit Plans – Parties in Interest and Prohibited Transactions

The AICPA Employee Benefit Plan Audit Quality Center has developed this primer to provide a general understanding of employee benefit plan parties in interest and prohibited transactions under the Employee Retirement Income Security Act of 1974 (ERISA). This primer explains how a party in interest under ERISA may…

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403(b) Plans

The AICPA Employee Benefit Plan Audit Quality Center has developed this primer to provide Center members with a general understanding of 403(b) plans. This document provides information about the nature and characteristics of 403(b) plans, a discussion of recent regulatory developments, and information about other helpful resources.

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Tax and Compliance Issues for 401(k) Plans

The AICPA Employee Benefit Plan Audit Quality Center (EBPAQC) has developed this primer to provide Center members with a general understanding of the tax and compliance requirements for 401(k) plans that are subject to the reporting requirements under the Employee Retirement Income Security Act of 1974…

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Employee Stock Ownership Plans

The AICPA Employee Benefit Plan Audit Quality Center (EBPAQC) has developed this primer to provide Center members with a general understanding of employee stock ownership plans (ESOPs). This primer discusses ESOP attributes and types of ESOPs, operations and recordkeeping, leveraged ESOPs, tax benefits and related compliance…

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Cash Balance Plans

The AICPA Employee Benefit Plan Audit Quality Center has developed this primer to provide Center members with a general understanding of cash balance plans. This document provides information about the nature and characteristics of cash balance plans, references to the relevant accounting and auditing professional literature,…

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Alternative Investments in Employee Benefit Plans

The AICPA® Employee Benefit Plan Audit Quality Center (EBPAQC) has developed this primer to provide Center members with a general understanding of alternative investments held by employee benefit plans. Included in this primer are discussions of unique characteristics of alternative investments, ways of identifying various alternative…

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Understanding Auditor Communications – Plan Advisory

The AICPA® Employee Benefit Plan Audit Quality Center (EBPAQC) has prepared this advisory to assist you as a plan sponsor, plan administrator, trustee, audit committee, employee benefit plan committee, administrative committee, or investment committee in better understanding the various communications that may be initiated by your plan auditor. This advisory…

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Medicare Prescription Drug, Improvement & Modernization Act of 2003

The AICPA® Employee Benefit Plan Audit Quality Center (EBPAQC) provides an overview of the Medicare Prescription Drug, Improvement & Modernization Act of 2003 to help members understand its relevancy to plans they audit. Includes the nature of the drug subsidies, what plans may be eligible, and benefits,…

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Valuing and Reporting Plan Investments – Plan Advisory

The AICPA® Employee Benefit Plan Audit Quality Center (EBPAQC) has prepared this advisory to assist you as a plan sponsor in understanding your responsibilities for valuing and reporting plan investments. This advisory discusses: Your responsibility for reporting plan investments How plan investments are reported Investment valuation and related disclosures Your responsibility…

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AICPA Insurance Products Primer

This AICPA® Employee Benefit Plan Audit Quality Center (EBPAQC) primer provides an overview of various types of products offered by insurance companies and discusses trusteeship and custodianship.

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Stable Value Funds and Investment Contracts — An Overview

This AICPA® Employee Benefit Plan Audit Quality Center (EBPAQC) document provides information about the nature and characteristics of stable value investments, the risks associated with such investments, and references to the relevant accounting and auditing standards.

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Plan Investments in Bank Collective Investment Funds

This AICPA® Employee Benefit Plan Audit Quality Center (EBPAQC) document includes discussions of the unique characteristics and structure of CIFs, how they are regulated, valuation methods, fees commonly charged and methods for determining them, disclosures made to plan sponsors, and references to the relevant accounting and auditing professional literature.

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BDO EBP Commentator – Winter 2014 Newsletter

Topics Include: Caution When Correcting Late Deposits Addressing SOC 1 Report Carve-Outs AICPA Employee Benefit Plans Accounting, Auditing and Regulatory Update BDO Announces Executive and HR Services Group  

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BDO EBP Commentator – 2013 Special Edition Newsletter

Topic: 2014 Cost-of-Living Adjustments for Qualified Retirement Plans

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Building Value Newsletter Volume XI, Issue IV

A Business Valuation Newsletter for Business Owners and the Professionals Who Advise Them Long Term Growth: Have the Facts Changed? Recent political, fiscal and economic events in the United States have changed the fundamental relationship between the federal government and its citizens. Some say the…

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BDO Knows: PCC – January 2014 Newsletter

Topics include: Definition of a Public Business Entity Accounting for Goodwill Accounting for Certain Receive-Variable On the Horizon Frequently Asked Questions

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Building Value Newsletter Volume XI, Issue III

A Business Valuation Newsletter for Business Owners and the Professionals Who Advise Them The Changing Face of Private Equity Over the past few years, practitioners have seen an increase in requests to perform valuation assignments in connection with private equity funds. These requests include the…

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Going for it in 2014!

We’re excited about the wonderful things we have in store for 2014 (yes, that includes working away on tax returns and financial statements, of course!). In the spirit of our “work together, play together” culture, we thought we’d share some of the things we’re most looking forward to this…

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BDO Real Estate Monitor – Winter 2014 Newsletter

Topics include: Storing Capital in an Asset Class Perks, Pitfalls of M-U Properties Ground Leases: Intermediate Rentals Impact of Tangible Property Regulations on Real Estate Companies PErspective in Real Estate

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Building Value Newsletter Volume XI, Issue II

A Business Valuation Newsletter for Business Owners and the Professionals Who Advise Them Personal Goodwill in Divorce Personal goodwill is an evergreen topic. It is continuously changing, especially in the divorce arena, because of the myriad of cases in the various states and jurisdictions and…

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Tax Bulletin January 2014: Oregon Legislators Reach “Grand Bargain”

Democrat and Republican Lawmakers Come Together in a Rare Moment of Bipartisan Cooperation By Andrew Meyers, CPA Overview During the 2013 special session of the Oregon State Legislature, citizen lawmakers from both sides of the aisle came together to pass HB 3601, in an effort…

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BDO Nonprofit Standard – Winter 2013 Newsletter

Topics include: FASB Board Proposes Changes to Nonprofit Cash Flow Statement IRS Releases Draft 2013 Form 990 Instructions Are You Prepared for the OMB Supercircular? FAC and DCF Update Significant Diversion of Assets 

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Information Reporting Alerts for 2013 & 2014

We’ve done our annual round up of the filings the IRS & Oregon want from you in addition to your annual income tax return and put them in one handy place. In particular, we’d like to draw your attention to three points covered in this…

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Year End Tax Planner

To help you make the most of the current tax breaks, our tax guide offers tips for minimizing your tax liabilities and maximizing your potential savings. In addition to year-round pointers, we offer suggestions for incorporating tax-efficient strategies into your long-term plans. By coordinating your tax…

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Building Value Newsletter Volume XI, Issue I

A Business Valuation Newsletter for Business Owners and the Professionals Who Advise Them Synergy and Fair Market Value: Are they mutually exclusive? BTR Dunlop says ‘no’ We were recently engaged to value an electric supply business that had received a letter of intent (LOI) from…

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Tax Bulletin November 2013: the New “Repair” Regulations

Act Now or Pay Later: Unraveling the New “Repair” Regulations By Trent Baeckl, CPA Overview The road to the final regulations has been an arduous one, and has involved significant revisions as the IRS solicited and received feedback. The good news is the IRS listened and considerably…

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Building Value Newsletter Volume X, Issue III

A Business Valuation Newsletter for Business Owners and the Professionals Who Advise Them Top Five Issues When Valuing a Small Business for Divorce Valuing a business for divorce has a variety of complexities not present for other valuation purposes. In this article we’ll discuss what…

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FCG Valuation Case E-Flash Mountanos v. Commissioner

Authored by Chris D. Treharne, ASA, MCBA, MAFF of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 15:3 Michael S. Mountanos, Petitioner v. Commissioner of Internal Revenue, Respondent  TC Memo 2013-138, Docket No. 8158-10, Filing date June 3, 2013, Judge Kroupa Citing two…

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FCG Valuation Case E-Flash Koons III v. Commissioner

Authored by Dustin J. Crespin and Chris D. Treharne, ASA, MCBA, CFFA of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 15:2 Estate of John F. Koons III, Deceased, A. Manuel Zapata, Personal Representative, Petitioner V. Commissioner of Internal Revenue, Respondent John F. Koons III,…

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FCG Valuation Case E-Flash Elkins v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 15:1 Estate of James A. Elkins, Jr., Deceased, Margaret Elise Joseph and Leslie Keith Sasser, Independent Executors, Petitioners v. Commissioner of Internal Revenue,…

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Building Value Newsletter Volume X, Issue II

A Business Valuation Newsletter for Business Owners and the Professionals Who Advise Them Facing the IRS: Some Quick Tips to Make the Experience Less Painful There comes a time in the careers of most valuation analysts when they end up having a valuation report reviewed…

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BDO Nonprofit Standard – Summer 2013 Newsletter

Topics include: Higher Education – Mid-year Update IRS Final Report on Colleges and Universities Nonprofit Facts – Did you know? Disallowed Losses on Form 990-T New GASB Pronouncements

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BDO Real Estate Monitor – Spring 2013 Newsletter

Topics include: Carried Interest and Real Estate Real Estate Easements: 14 Ways PErspective in Real Estate Using an Option as an Investment Tool Residential Wind Turbine Enjoined as Nuisance Non-Traded REITs: Regulatory Concerns    

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BDO EBP Commentator – Winter 2013 Newsletter

Topics Include: Highlights from the AICPA’s December 2012 EBP Conference Coming Soon…Regulatory Updates Internal Controls Check-Up  

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EBPAQC – Employee Benefit Plans Financial Statement Audits

The AICPA® Employee Benefit Plan Audit Quality Center (EBPAQC) has prepared this advisory to provide you, the plan sponsor, administrator or trustee with an understanding of and insights into the independent audit of the financial statements of an employee benefit plan. While this document addresses…

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EBPAQC Plan Advisory – Monitoring Outsources Functions

The AICPA® Employee Benefit Plan Audit Quality Center has prepared this advisory to assist you as a plan sponsor, administrator or trustee in understanding the importance and benefits of establishing an effective monitoring program over service organizations that perform recordkeeping and reporting functions for your…

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US Tax Implications of Real Property Investments by Non-US Investors

US Tax Implications of Real Property Investments by Non-U.S. Investors Tax Impacts Bulletin, January 2013 By Masa Yamaguchi, CPA, International Tax Manager Overview The US real estate markets continue to see strong demand from foreign investors on the back of the notion that they offer attractive…

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FCG Valuation Case E-Flash Mohamed v. Commissioner

Authored by Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 14:2 Joseph Mohamed, Sr. and Shirley Mohamed, Petitioners v. Commissioner of Internal Revenue, Respondent  TC Memo 2012-152, Docket Nos. 13947-07, 12882-08, Filing date May 29, 2012,…

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FCG Valuation Case E-Flash Wimmer v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 14:3 Estate Of George H. Wimmer, Deceased, George W. Wimmer, Personal Representative, Petitioner V. Commissioner Of Internal Revenue, Respondent T.C. Memo. 2012-157, Docket No….

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FCG Valuation Case E-Flash Richard v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 14:4 Estate Of Alfred J. Richard, Deceased, Gary H. Richard And Peter C. Richard, Co-Executors, Petitioners V. Commissioner Of Internal Revenue, Respondent T.C. Memo….

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FCG Valuation Case E-Flash Wandry v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 14:1 Joanne M. Wandry, Donor, Petitioner V. Commissioner Of Internal Revenue, Respondent, Albert D. Wandry, A.K.A. A. Dean Wandry, Donor, Petitioner V. Commissioner…

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Building Value Newsletter Volume X, Issue I

A Business Valuation Newsletter for Business Owners and the Professionals Who Advise Them Is the Traditional Risk-Free Rate Still Risk Free? As we all know, on August 5, 2011 Standard & Poor’s lowered its rating of long-term U.S. federal debt to AA+, thereby removing the…

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BDO Assurance Newsletter Fall 2012

In this newsletter, get up to speed on the following accounting reporting topics and hear the latest from the PCAOB, SEC & IASB. Download the full newsletter at the bottom of the page. Emerging Issue Task Force (EITF) Issue No. 12-A Statement of Cash Flows (Topic 230)…

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BDO’s Guide to Going Public

The Guide from BDO’s National Assurance Practice BDO Knows: Going Public How to Use the BDO Guide To Going Public This Guide is for business owners who are considering taking their company public. It explains and highlights the significant factors in the going public decision,…

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Real Estate News Update: Portland Eliminates Residential Tax Exemption

Individuals Beware! On June 6, 2012, the Portland City Council amended its Code to remove the exemption allowed for individuals whose sole business activity is renting or leasing less than ten (10) residential real property dwelling units. This change is effective for tax years beginning…

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403(b) Sample Auditor Request List for Plan Information

This document was prepared by the AICPA Employee Benefit Plan Audit Quality Center to provide examples of the types of documents, schedules and information that plan management may be asked to provide to the plan’s independent auditor. The plan auditor may also ask plan management for…

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403(b) Questions to Expect From Your Plan Auditor

This document was prepared by the AICPA Employee Benefit Plan Audit Quality Center to provide examples of the types of questions that plan management may be asked by the plan’s independent auditor. Remember, the plan auditor may also ask plan management other questions that are…

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FCG Valuation Case E-Flash Turner v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 13:13 Estate of Clyde W. Turner, Sr., Deceased, W. Barclay Rushton, Executor, Petitioner, V. Commissioner of Internal Revenue, Respondent T.C. Memo. 2011-209, Docket…

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FCG Valuation Case E-Flash Liljestrand v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 13:14 Estate of Paul H. Liljestrand, Deceased, Robert Liljestrand, Executor, Petitioner, v. Commissioner of Internal Revenue, Respondent T.C. Memo. 2011-259, Docket No. 29397-08,…

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Tax Bulletin July 2012: City of Portland Tax Amnesty & Real Estate Refunds

City of Portland Tax Amnesty & Real Estate Refunds Action required by key dates in July By Andrew J. Meyers, CPA & Trina Headley, CPA Overview Spring was a busy time for the Portland City Council who passed a “once-in-a-lifetime” amnesty program aimed at bringing…

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IRS Announces New Report of Foreign Bank Account (“FBAR”) Relief

IRS Annouces New Report of Foreign Bank Account (“FBAR”) Relief for U.S. Citizens Residing Abroad & U.S. Expatriates Holding Foregin Retirement Accounts On June 26, 2012 the IRS announced a long awaited easier path for those US individual taxpayers they consider to be “low risk”…

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Assurance Newsletter Spring 2012

Dig into the details surrounding: Financial Accounting Standards Board (FASB) proposed and final guidance and other activities including the recent developments of the FASB and IASB’s joint efforts to work towards convergence of US GAAP and IFRS. Public Company Accounting Oversight Board (PCAOB) proposed guidance Security Exchange Commission…

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EBP Developments Newsletter Spring 2012

Perkins & Co Employee Benefit Plan Newsletter What’s new with EBP Audits? The latest buzz words around administering your company’s benefit plan are fiduciaries and disclosures. Truly understanding who a fiduciary is with respect to your plan, the fiduciary’s responsibilities and associated personal liabilities from serving in…

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Building Value Newsletter Volume IX, Issue II

A Business Valuation Newsletter for Business Owners and the Professionals Who Advise Them What’s in a Name? What better way to start off than by talking about “What’s in a Name?” – a tradename to be specific. In a recent litigation engagement, my firm was…

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Building Value Newsletter Volume IX, Issue I

A Business Valuation Newsletter for Business Owners and the Professionals Who Advise Them Recognizing and Analyzing Promising Intellectual Property Whether in a large corporation, university, or high-tech startup, the ability to recognize and extract value from new ideas in the life sciences is becoming increasingly…

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FCG Valuation Case E-Flash Dawkins v. Hickman

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 13:12 Dorothy Dawkins, Plaintiff v. Hickman Family Corporation and Perry Hickman, Defendants United States District Court for the Northern District of Mississippi Eastern Division Cause…

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FCG Valuation Case E-Flash Giustina v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 13:10 Estate of Natale B. Giustina, Deceased, Laraway Michael Giustina, Executor, Petitioner, v. Commissioner of Internal Revenue, Respondent Docket No. 10983-09, T.C. Memo…

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FCG Valuation Case E-Flash Gallagher v. Commissioner

Authored by Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 13:9 J Estate of Louise Paxton Gallagher, Deceased, F. Gordon Spoor, Personal Representative, Petitioner v. Commissioner of Internal Revenue, Respondent Docket No. 16853-08, T.C. Memo 2011-148,…

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FCG Valuation Case E-Flash Miller v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 13:11 Jess L. Miller, Petitioner v. Commissioner of Internal Revenue, Respondent  Docket No. 26567-08, T.C. Memo 2011-189, Judge: Hon. Mary Ann Cohen, August 9,…

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FCG Valuation Case E-Flash Hendrix v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 13:8 John H. Hendrix and Karolyn M. Hendrix, Donors, Petitioners, v. Commissioner of Internal Revenue, Respondent Docket No. 10503-03, T.C. Memo 2011-133, Judge:…

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FCG Valuation Case E-Flash: Boltar, LLC v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 13:5 Boltar, L.L.C., Joseph Calabria, Jr., Tax Matters Partner, Petitioner, v. Commissioner of Internal Revenue, Respondent 136 T.C. No. 14, Docket No. 25954-08,…

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FCG Valuation Case E-Flash Hendrix v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 13:8 John H. Hendrix and Karolyn M. Hendrix, Donors, Petitioners, v. Commissioner of Internal Revenue, Respondent Docket No. 10503-03, T.C. Memo 2011-133, Judge: Hon….

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FCG Valuation Case E-Flash Tempel v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 13:4 George H. Tempel and Georgetta Tempel, Petitioners, v. Commissioner of Internal Revenue, Respondent 136 T.C. No. 15, April 5, 2011 The Tax…

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FCG Valuation Case E-Flash McNeil v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 13:7 William M. McNeil and Catherine A. McNeil, Petitioners, v. Commissioner of Internal Revenue, Respondent T.C. Memo 2011-109; Docket No. 9238-09; May 23, 2011…

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Tips for Employers with Retirement Plans

Experts from from Davis Wright Tremaine LLP, Perkins & Co, and Merrill Lynch share practical tips on how to protect yourself and your company from exposure to ERISA lawsuits by participants, avoid liability to the DOL and IRS, and best practices for plan design, investment…

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FCG Valuation Case E-Flash Estate of Saul Schneider v. Victor M. Finmann

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 13:1 Estate of Saul Schneider, Appellant, v. Victor M. Finmann, et al., Respondents, et al., Defendant New York Court of Appeals, No. 104,…

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FCG Valuation Case E-Flash Estate of Riese v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 13:3 Estate of Sylvia Riese, Deceased, Ellen C. Grimes and Judith A. Zipp, Executors, Petitioner, v. Commissioner of Internal Revenue, Respondent T.C. Memo 2011-60,…

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FCG Valuation Case E-Flash Whitehouse v. Commissioner

Authored by Fawntel Romero, AM, and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 12:13 Whitehouse Hotel Limited Partnership, ET AL., Petitioners – Appellants, v. Commissioner of Internal Revenue, Respondent – Appellee No. 09-60085, Appeal from…

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FCG Valuation Case E-Flash Holdner v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 12:12 CITATION: Randal W. Holdner, Petitioner v. Commissioner of Internal Revenue, Respondent, and William F. Holdner, Petitioner v. Commissioner of Internal Revenue, Respondent…

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FCG Valuation Case E-Flash Stewart v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 12:14 Stewart v. Commissioner, Cite as 106 AFTR 2d 2010-XXXX, 08/09/2010,Estate of Margot Stewart, Deceased, Brandon Stewart, Executor Petitioner-Appellant, v. Commissioner of Internal…

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FCG Valuation E-Flash Suzanne J. Pierre v Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc., a member firm of FCG Issue 12:5 Suzanne J. Pierre, Petitioner, v. Commissioner of Internal Revenue, Respondent T.C. Memo. 2010-106 Docket No. 753-07, May 13, 2010 The Takaway Footnote 10…

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FCG Valuation Case E-Flash Ludwick v. Commissioner

Authored by Fawntel Romero, AM and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc., a member firm of FCG Issue 12:6 CITATION: Andrew K. Ludwick, Petitioner v. Commissioner of Internal Revenue, Respondent, and Worth Z. Ludwick, Petitioner v. Commissioner of Internal Revenue,…

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FCG Valuation Case E-Flash Sala v. United States

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 12:8 Carlos E. SALA; Tina Zanolini-Sala, Plaintiffs-Appellees, v. United States of America, Defendant-Appellant. No. 08-1333 United States Court of Appeals, 10th Circuit. July…

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FCG Valuation Case E-Flash Hendrix v. United States

Authored by Fawntel Romero, AM, and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 12:9 James Hendrix, ET AL., Plaintiffs, v. United States of America, Defendant Case No. 2:09-cv-132 United States District Court, Southern District of…

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FCG Valuation Case E-Flash Estate of Jensen v. Commissioner

Authored by John Walker and Chris D. Treharne, ASA, MCBA, BVAL of Gibraltar Business Appraisals, Inc. a member firm of FCG Issue 12:10 Estate of Marie J. Jensen, Deceased, Virginia E. Maurer, Executrix, Petitioner v. Commissioner of Internal Revenue, Respondent T.C. Memo. 2010-182, Docket No….

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Building Value Newsletter Volume VIII, Issue II

A Business Valuation Newsletter for Business Owners and the Professionals Who Advise Them Valuing “Mom and Pop” Businesses A Primer Is there really a difference between valuing the “mom and pop” Main Street business versus the larger, closely held business that has several owners and appears to be run…

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Real Estate Professional Qualification Flow-chart Test

Did you qualify as a Real Estate Professional this year? If you qualify as a Real Estate Professional, you may be able to classify a real property (RP) rental activity as a nonpassive activity and thus use any losses from that activity to offset other…

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Material Participation Flow-chart Test

Did you materially participate in that activity this year? If you materially participate in an activity you may be able to classify the activity as nonpassive and thus use any losses from that activity to offset other sources of taxable income. Generally, losses from passive…

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Tax Bulletin Feb 2011: IRS Offshore Account Disclosure Initiative

Second (and likely final) IRS Offshore Account Disclosure Initiative Action Required by August, 31, 2011 By Christopher J. Loughran, Shareholder, Director of Tax Overview The IRS recently announced another “amnesty” type of program, available until August 31, 2011, for people with previously unreported offshore accounts….

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Tax Bulletin Feb 2011: Washington State Amnesty Program

Washington State Seeks Additional Revenue By Andrew J. Meyers, CPA Overview The Washington State Legislature stayed busy in 2010 by trying to find ways to fill a $1 billion budget deficit after voters rejected their earlier push for increases on sales taxes for a myriad…

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Building Value Newsletter Volume VIII, Issue I

A Business Valuation Newsletter for Business Owners and the Professionals Who Advise Them Using Statistics to Assess Lost Profits During an Economic Downturn The economic downturn has obviously had negative effects on many commercial enterprises, causing them to suffer financial losses. When a firm is a…

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BDO Real Estate Monitor Winter 2010

The newsletter of the BDO Real Estate Industry Practice Topics include Residential Real Estate: Making Modifications Work CMBS: Special Servicers Securitization: Covered Bonds Leases: Subordination Clause Could Harm Tentants Legal View: Second Circuit Rejects Champerty Defense Migration: Major Shifts

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Tax Bulletin Dec 2010: Tax Relief Act of 2010

The Tax Relief Act of 2010-Finally! By Christopher J. Loughran, Shareholder, Director of Tax Overview After much anticipation, the Tax Relief Act of 2010 (the Act) was signed into law by President Obama on December 17, 2010. The most widely reported items included in the…

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Tax Bulletin Nov 2010: Small Business Jobs Act of 2010

Misnamed, but Useful By Kathryn Wilson, CPA & Susan Sterne, CPA, Principal President Obama signed the Small Business Jobs Act of 2010 (SBJA) into law on September 27, 2010. The Act’s title is a misnomer – it includes provisions relevant to businesses of all sizes, expands…

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FCG Valuation Case E-Flash Executrix v. Commissioner

Authored by Chris D. Treharne, ASA, MCBA, BVAL and John Walker of Gibraltar Business Appraisals, Inc., a member firm of FCG Issue 12:2 Citation Estate of Charlene B. Shurtz, Deceased, Bonnie K. Case, a.k.a. Bonnie Cathleen Case, Executrix, v. Commissioner, T.C. Memo. 2010-21, Docket No. 6076-07, February…

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FCG Valuation Case E-flash Petitioner v. Commissioner of Internal Revenue

Authored by Chris D. Treharne, ASA, MCBA, BVAL and Fawntel Romero of Gibraltar Business Appraisals, Inc., a member firm of FCG Issue 12:1 CITATION: WALTER M. PRICE, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent, and SANDRA K. PRICE, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent,…

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BDO Real Estate Monitor Spring 2010

The newsletter of the BDO Real Estate Industry Practice Topics include Real Estate Workouts: Cash Flow Mortgages Leases: The Takeover Lease Mortgage Loans: Buying and selling Mortgages: Buyer Contingency Clauses Loans: Prepayment Penalty Upheld Metropolis: Five New Realites

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BDO Knows: FASB February 2010

The Newsletter from BDO’s National Assurance Practice Revised Revenue Rules May Change the Way You Do Business Executive Summary For many entities, sales arrangements are often characterized by transactions with multiple deliverables. For example, in the technology industry, hardware, software, and professional services may be…

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DOL Issues Final Rule Providing a Safe Harbor for Small Plans

Timeliness of Participant Contributions DOL Issues Final Rule Providing a Safe Harbor for Small Plans On January 14, 2010, the Department of Labor (DOL) issued final regulations to establish a safe harbor period that would provide a higher degree of compliance certainty with respect to…

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Housing and Economic Recovery Act (HERA) Exclusion Changes January 2009

Effective January 1, 2009 New Rules for Taxing Gain: 2008 Housing and Economic Recovery Act (HERA) Exclusion Changes The 2008 Housing and Economic Recovery Act (HERA), H.R. 3221, included a provision that modifies the application of the $250,000/ $500,000 exclusion, but ONLY in situations in which…

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Alternative Investments in Employee Benefit Plans

The AICPA Employee Benefit Plan Audit Quality Center has developed this primer to provide Center members with a general understanding of alternative investments held by employee benefit plans. Included in this primer are discussions of unique characteristics of alternative investments, ways of identifying various alternative investments, valuation methods,…

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Assessing the Fair Values of Your Plan Investment

Considerations for Plan Management in Understanding How Fair Values Are Determined under FASB Statement No. 157, Fair Value Measurements This document was prepared to assist you in implementing FASB Statement of Financial Accounting Standards No. 157, Fair Value Measurements (FAS 157). FAS 157 is important to…

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New Rules for Measuring & Reporting Fair Value of Plan Investments

Getting Started: Applying New Accounting Rules for Measuring and Reporting Fair Value of Plan Investments Considerations for Employee Benefit Plan Implementation of FASB Statement No. 157, Fair Value Measurements Employee benefit plans are now required to implement new accounting rules for valuing and reporting the fair value…

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