News Archive


IRS Issues Clarifying Guidance on the PATH Act Changes to Section 179 and Bonus Depreciation

The Protecting Americans from Tax Hikes Act of 2015 (“PATH Act” or “The Act”) included amendments and changes to §§179, 168(k), and 168(j). The changes made in The Act are effective for property placed in service in taxable years beginning in 2016. A major impact of The Act is the creation of a new category of qualified property, called qualified improvement property, eligible for the additional first-year depreciation deduction (bonus depreciation)under §168(k).

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North Carolina Legislature Overrides Governor’s Veto and Enacts Budget Bill – Corporate Rate Reduction and other Tax Changes

North Carolina has enacted a budget bill, S.B. 257, which, among other things, reduces the state’s corporate income tax rate from 3 percent to 2.5 percent, effective for taxable years beginning on or after January 1, 2019. The governor had vetoed the bill, but on June 28, 2017, the legislature overrode that veto. The budget bill also includes a franchise tax rate reduction for S corporations, a rate reduction and other changes for personal income tax, and other sales and use tax changes.

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August 2017 Newsletter

In this issue:

  • 6 Traits of Leading Finance Functions
  • What Proposed Regulations on the Fractions Rule Mean for Tax-Exempt Organizations
  • Microsoft Could Provide Early Test of New Lease Accounting Rules
  • Lawmakers Consider TIFIA Loan Program Expansion
  • and more!

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IRS Issues Clarifying Guidance on the PATH Act Changes to Section 179 and Bonus Depreciation

The Protecting Americans from Tax Hikes Act of 2015 (“PATH Act” or “The Act”) included amendments and changes to §§179, 168(k), and 168(j). The changes made in The Act are effective for property placed in service in taxable years beginning in 2016. A major impact of The Act is the creation of a new category of qualified property, called qualified improvement property, eligible for the additional first-year depreciation deduction (bonus depreciation)under §168(k).

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IRS Issues Clarifying Guidance on the PATH Act Changes to Section 179 and Bonus Depreciation

The Protecting Americans from Tax Hikes Act of 2015 (“PATH Act” or “The Act”) included amendments and changes to §§179, 168(k), and 168(j). The changes made in The Act are effective for property placed in service in taxable years beginning in 2016. A major impact of The Act is the creation of a new category of qualified property, called qualified improvement property, eligible for the additional first-year depreciation deduction (bonus depreciation)under §168(k).

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June 2017 Newsletter

In this issue:

  • Why Understanding Valuation Methods is Paramount to Success of Early-stage Health Tech Companies
  • Tax Court Decision Addresses Self-Employment Taxes of LLC Members
  • Tips to Manage Sustainability Risks and Drive Value
  • What Does Your Capital Deployment Say About Your Growth Expectations?
  • and more!

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Why Understanding Valuation Methods Is Paramount to Success of Early-stage Health Tech Companies

The healthcare industry is facing significant changes, not only in the practice of medicine, but also in the tools by which providers practice. Significant changes are also underway to the methods by which healthcare is paid for vis-a-vis value-based payment models. Technological advancements have opened the door to an era of digital medicine, an expanded environment for telemedicine and the increased use of robotics in patient care.

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Tax Court Decision Addresses Self-Employment Taxes of LLC Members

In Vincent J. Castigliola, et ux., et al. v. Commissioner, TC Memo 2017-62, the Tax Court held that the three members of a Mississippi Professional Limited Liability Company (“PLLC”) in the practice of law were subject to self-employment tax on their entire distributive share of the PLLC’s income, despite the fact that they received guaranteed payments commensurate with local legal salaries.

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Back to Basics: Why Adhering to Central Real Estate and Facilities Management Principles is Critical for Hospitals in Time of ACA Uncertainty

President Trump and the Republican leadership’s plan to repeal the Affordable Care Act (ACA) has created a climate of uncertainty across the healthcare industry, with direct impact on real estate and facilities healthcare operations.

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Automation In Manufacturing & Distribution: Are Job Cuts The Future?

We’re at the onset of the next big industrial revolution–and the widespread adoption of new technologies, including Internet-connected devices, machine learning and robotics in the manufacturing industry. Strides in automation have significantly boosted U.S. manufacturers’ output in recent years, and the industry is just beginning to understand and exploit the full potential of technology and disruptive supply chain models to reinvent manufacturing as we know it.

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Trump Administration Announces President's Outline for Tax Reform

On April 26, 2017, Treasury Secretary Steven Mnuchin and National Economic Council Director Gary Cohn announced President Donald Trump’s outline for individual and business tax reform, which includes new federal income tax rates and repeal of the estate tax.

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Technology's Post-Election Future: Spotlight on Trade & Immigration

As President Trump nears his 100-day mark, Silicon Valley has already experienced a whirlwind of political activity. Within the first three months, the president has implemented a flurry of “America first” policies that have elicited a myriad of reactions from the tech world—including Apple’s Tim Cook, Google’s Sundar Pichai and Uber’s Travis Kalanick, among others.

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May 2017 Newsletter

In this issue:

  • New Bridge Being Constructed on Outer Banks in N.C.
  • New CEOs: Look at Your Company Like an Outsider
  • How Slow Internet Speeds Affect Finance Departments
  • 7 Things Great Bosses Tell Their Employees Every Single Day
  • and more!

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Non-Profit News: Spring 2017

In this issue:

  • Building a Resilient Organization – A Toolkit for Nonprofit Boards to Manage Transformational Change
  • Public Charities and Private Foundations – What's the Difference?
  • Accounting and Financial Reporting for Other Postemployment Benefit Plans
  • Supporting Organizations Could Be Putting Their Charity Designation at Risk
  • and more!

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April 2017 Newsletter

In this issue:

  • Does Your Company Need a Czar of Bad Systems?
  • Arbitration Program Suggested to Speed Up Infrastructure Construction
  • Why "Complete ERM” is a Myth
  • Tactics for Communicating Effectively with Your Boss
  • and more!

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Real Estate News

In this issue:

  • Cybersecurity: A Business Threat for Contractors
  • REIT IPO Watch: 2017 Progress Report
  • Effects of Potential Tax Reform on the Real Estate Industry
  • and more!

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March 2017 Newsletter

In this issue:

  • Data Mining Gains More Cachet in Construction
  • Consumer Prices in U.S. Increase by Most Since February 2013
  • Understanding the Effects of Social Security's Rising Retirement Age
  • What Drones Mean for the Construction Sector
  • and more!

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Healthcare News

In this issue:

  • Cures Act Provides World of Opportunity for Healthcare Innovation but Requires Providers to Read the Fine Print to Mitigate Compliance Risk
  • IOT in Healthcare Presents Opportunity but Also Prompts Higher Guardrails Around Cybersecurity, False Claims Act
  • As Healthcare Focuses on False Claims Liability, Industry Should Mind the GAAP
  • and more!

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Auto Industry Speeds into 2017 with Technology & Mobility

Boasting more than 800,000 attendees, 5,100 journalists, 40,000 industry insiders and 46 vehicle debuts, the 2017 North American International Auto Show (NAIAS) provided an estimated economic impact of $450 million to the area—roughly the equivalent of hosting the Super Bowl twice—according to the Detroit Automobile Dealers Association, up $20 million from last year’s estimates.

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February 2017 Newsletter

In this issue:

  • Simonson, Others Weigh in on the State of Construction
  • Millions of Workers will Pay More Taxes in 2017 D espite Not Having a Higher Tax Rate
  • The High Cost of Incivility in the Workplace
  • 3 "Must-Haves" for Retaining Top Talent
  • and more!

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President Obama Signs Bill that Eliminates the ACA Penalty on Certain Health Care Premiums Reimbursed to Employees

On December 13, 2016, President Obama signed the 21st Century Cures Act, which allows certain small employers to establish a new type of health reimbursement arrangement that reimburses for health insurance premiums without exposure to the $100 dollar per day penalty under the Affordable Care Act (“ACA”).

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Non-Profit News: January 2017

In this issue:

  • How Tax Law Changes May Impact Charitable Giving
  • A Deeper Dive Into ASU 2016-14
  • Foreign Income Tax for Employees
  • IRS Issues 2017 Work Plan for Tax Exempt Organizations
  • and more!

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Sales and Use Tax Law Changes

The North Carolina Department of Revenue released a notice addressing issues relative to changes to the sales and use tax laws. The changes are effective January 1, 2017, and apply to sales made on or after that date. Click on the button below to learn more.

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January 2017 Newsletter

In this issue:

  • Congress Eliminates IRS Penalty on Employer Reimbursements for Health Insurance
  • Some Small Businesses Proceed with Overtime Pay Changes
  • Baby Boomers Need Help to Maximize Retirement Savings
  • How to Retain Young Finance Pros
  • and more!

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Year End Planning with the Lame Duck Session and President-elect Trump

With the election over, we can now begin to speculate on what will happen in the lame duck session, and what a Trump-Pence Administration might mean for tax policy. Read through for an outlook on the next 12 months.

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December 2016 Newsletter

In this issue:

  • Successful Couples are Transparent about Money
  • How to Kick-Start Your Career
  • Trump's Promises on Infrastructure Spending Drive Up Construction Stocks
  • 10 Qualities Effective Leaders Have
  • and more!

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November 2016 Newsletter

In this issue:

  • How to Plan for Retirement Shocks
  • Should the United States Enact a Patent Box
  • Leaders Can Shape Company Culture Through Their Behaviors
  • Great Leadership Teams Say These Six Things About Each Other
  • and more!

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Changes in Longstanding Tax Return Due Dates Impact Retirement Plan Contribution Dates

Certain tax return and extension due dates will change for taxable years ending on or after December 31, 2016. Download this document for information on the new and existing original and extension due dates by form type.

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Why Nonprofits Need to Measure & Monitor Program Impact and Outcomes

To assess your organization's anti-fraud governance practices, ask the following questions...

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Opportunity for Fiscal Year Taxpayers to Claim Missed Bonus Depreciation on 2015 Assets

A highlight of the PATH Act is the five-year extension of additional first-year depreciation from 2015 through 2019. Recently, the IRS issued relief guidance to provide taxpayers, who may have failed to claim bonus depreciation on their tax returns for qualifying property placed in service in 2015, with procedures for claiming, or not claiming, the 50 percent bonus depreciation.

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Final Regulations Expand Software-Development Activities Eligible for Research Tax Credits

On October 3, 2016, the IRS issued final regulations concerning the section 41 research tax credit and its treatment of expenditures related to the development of software, both internal-use software (IUS) and non-IUS. 

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RE & Construction News

In this issue:

  • R&D Tax Credit Benefits for Construction Companies
  • As Quality-Based Pay Ripples Across Healthcare, REITs Re-Evaluate Strategy
  • PErspective in Real Estate
  • and more!

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Non-Profit News: October 2016

In this issue:

  • FASB Issues ASU 2016-14
  • Telemedicine and Potential Tax Implications
  • Lawsuits Target Higher Education
  • International Grantmaking Issues for Nonprofits
  • and more!

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October 2016 Newsletter

In this issue:

  • UK CEOs Consider Relocating After Brexit Vote
  • How to Lay the Foundation for Tough Conversations
  • How to Develop Skills Worthy of a CFO
  • and more!

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September 2016 Newsletter

In this issue:

  • The Problem with Dipping into Retirement Funds to Pay for College
  • Younger Workers Contribute Lower Percentage of Income to Retirement
  • Economic Profit Can Help Companies Match Compensation, Long-term Value
  • How Will Virtual Reality Revolutionize the Office?
  • and more!

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Center for Automotive Research Management Briefings

In August, The Center for Automotive Research (CAR) organized and sponsored its annual Management Briefings in Traverse City, MI. Once again, the event focused on the global business issues facing the automotive industry including economic and financial trends, technology innovations, and cybersecurity challenges.

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Taxpayers No Longer Need to Attach Copy of Section 83(b) Election to Form 1040

The IRS finalized regulations on July 25, 2016, adopting the 2015 proposed regulations, without change, that eliminate the requirements to file a copy of an 83(b) election with an individual's income tax return for the year.

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Non-Profit News: Vol. 1

In this issue:

  • 10 Steps Nonprofits Should Take to Increase Cybersecurity
  • New Governmental Accounting Standards Board Pronouncements
  • Is a Merger for You?
  • and more!

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Non-Profit News: Vol. 2

In this issue:

  • Limited Partnerships - To Consolidate or Not to Consolidate
  • How to Retain, Recruit and Engage Great Board Members
  • 10 Common Self-Dealing Mistakes Private Foundations Make
  • Revenue Recognition of Grants and Contracts by Nonprofits
  • and more!

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What's Trending in Real Estate Around the World?

Discover how the lead-up to the June 23 EU Referendum, nicknamed "Brexit," is impacting the United Kingdom's real estate market.

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August 2016 Newsletter

In this issue:

  • IMF Warns Brexit Uncertainty Could Affect World Economy for Years
  • Compliance Costs, Complexity Rising for North American Companies
  • Why Valuation Isn't the Only Thing that Matters During an Exit
  • Planning for Nonresidential Construction Increases in June
  • and more!

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WOTC Additional Extension 2016

Congress recently extended the application of the work opportunity tax credit (the "WOTC") to an employee who began working after December 31, 2014, and before January 1, 2020.

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July 2016 Newsletter

In this issue:

  • IRS Regulations Restrict Use of REITs to Avoid Gain
  • World Bank Shrinks Forecasts for Economic Growth
  • Retail Construction Increased 24.4% in Q1
  • How to Re-engage an Employee Who Has Mentally Checked Out
  • and more!

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Data Analytics and Enhancing Audit Quality

Data analytics is about enhancing audit quality. While there are different philosophies as to what evolving technologies mean to the auditing profession, audit quality remains a fundamental objective.

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North Carolina Enacts Legislation Impacting Intangible Holding Companies

On May 11, 2016, North Carolina Governor Pat McCory signed S.B. 729, which, for taxable years beginning after December 31, 2015, decreases the Corporation Income Tax related member interest expense deduction from 30 percent to 15 percent, and effectively establishes a conduit exception.

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Spotlight on the Internet of Things

The Internet of Things (IoT) is becoming an increasingly popular topic of conversation for consumers and businesses alike. What exactly is the IoT and what does it mean for the technology industry? Download this document to learn more.

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Final DOL Overtime Rule Release

On May 18, 2016, the U.S. Department of Labor (DOL) released a final rule that radically increased the thresholds for overtime rules, expanding the number of employees eligible for overtime pay.

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New Tax Act Has Much for Nonprofits

The Protecting Americans from Tax Hikes Act of 2015 contains many provisions that directly affect tax-exempt organizations. Download this article to learn several tax implications that nonprofits should be aware of.

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R&D Tax Credit Enhancements Provide More Cash-Saving Opportunities for Manufacturers

Beginning in December 2015, Congress passed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act), extending and making permanent a number of important tax credits. Download this article to learn more about the federal research and development (R&D) credit.

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Rising to the Challenge of Nonprofit Recruiting

Recruiting for nonprofits can be challenging. Download this article to learn what nonprofit leaders and managers can do to prepare for the task of recruiting.

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Liquidity: Can it Be the Difference between Success and Bankruptcy for NFPs?

The FASB Board is looking at the proposed Accounting Standards Update (ASU) on presentation and disclosure for Not-For-Profit Entities. It plans on looking at ways to provide meaningful and decision-useful information related to liquidity. Download the article for more information.

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If a Product or Service is Delivered Via the Internet, It's Not Subject to Sales Tax, Right?

As not-for-profit organizations try to meet the growing needs of members and non-members by selling products and services via the Internet, they may not realize that such products and services are subject to sales and use tax in a number of states.

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FASB Issues ASU 2016-14, Presentation of Financial Statements of Not-for-Profit

The FASB recently issued ASU 2016-14 to improve the presentation of financial statements of not-for-profit entities such as charities, foundations, universities, and nonprofit health care providers, etc.

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Issuance of Proposed Regulations Impacting Valuation of Family Controlled Businesses for Estate, Gift, and Generation Skipping Tax Purposes

Proposed regulations regarding estate planning and valuation discounts were released August 2, 2016, and if they become final, would significantly impact the availability of minority or lack of control discounts for transfers of family controlled business interests among family members.

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Form 1023-EZ Is Too Easy

The new Form 1023-EZ was introduced to provide a simplified method for small organizations to apply for tax-exempt status as a section 501(c)(3) organization. The Taxpayer Advocate has expressed concern that the new form lacks requirements that prove whether an organization is eligible for tax exemption.

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"Are We Having Those Good Seafood Salad Sandwiches for Lunch Again?

The real questions committees should ask about executive compensation. Download this article for more information.

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Q&A: Technology & Hospitality

Mark Nunneley, CEO of Ashford Hospitality Trust, answers questions on how the digital revolution is impacting REITs and operators in the hospitality sector.

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How Can the R&D Credit Help You?

The PATH Act of 2015 expanded and made permanent the credit for increasing research activities, commonly referred to as the R&D credit. The expansion of this credit made it much more attainable for many firms across all industries, while the permanency provides the opportunity for long-term planning in the research and development area. 

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"Are We Having Those Good Seafood Salad Sandwiches for Lunch Again?

The real questions committees should ask about executive compensation. Download this article for more information.

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Elevating Cybersecurity to the Board - Questions Boards Should Be Asking

The board's role in the oversight of organizational risk is increasingly complicated by cybersecurity concerns. These questions may be a useful starting point for boards to use in discussions for addressing potential cyber risks.

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May 2016 Newsletter

In this issue:

  • Are Investors Holding Too Much Cash?
  • 5 Factors to Consider When Designing Benefits Plans
  • Why Efficiency Isn't the Only Thing that Matters
  • New Thinking About Predicting Corporate Risk
  • and more!


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2015 ACA IRS Filing Requirement

Nonprofit organizations are subject to ACA requirements similar to those that apply to for-profit organizations. It is critical that nonprofit organizations are aware of both the benefits and potential pitfalls of ACA filing requirements.

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March 2016 Newsletter

In this issue:

  • Retirement Plan Options for 1099 Employees
  • Beware of Tax Scams
  • Documenting Your Charitable Donations
  • Expert Advice on Not-for-Profit Board Service
  • and more!.

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IRS Simplifies the Process for Correcting Late Rollovers between Retirement Accounts

Issued August 24, 2016, Rev. Proc. 2016-47 simplifies the process for correcting late rollovers from one tax-qualified retirement account to another. The guidance provides plan administrators and IRA trustees with an additional basis for accepting rollover contributions after the 60-day deadline.

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NC Sales Tax on Repair, Maintenance and Installation Services - Do the New Requirements Apply to You?

Effective March 1, 2016, a retailer engaged in business in North Carolina must collect sales tax on gross receipts derived from repair, maintenance, and installation services..

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