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Delap Blog - Accounting Updates, Resources, and News

15 Nov

3 Ways the New Revenue Recognition Will Impact Your Healthcare Organization’s Financial Statements

November 15, 2018 | By | No Comments

Looking back four years now, 2014 provided the accountants at Delap with some solid entertainment. My cherished Denver Broncos were clearly bought out by the Seattle Seahawks to lose Superbowl XLVIII in the most embarrassing match-up. Ever. might have lost the Superbowl to the PNW’s beloved Seattle Seahawks (I’m not bitter). HBO’s “True Detective” debuted […]

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Partnerships Are Now Liable for U.S. Federal Income Tax

15 Nov

Partnerships Are Now Liable for U.S. Federal Income Tax

November 15, 2018 | By | No Comments

The Bipartisan Budget Act of 2015 established new rules for partnership audits and the assessment of tax. Effective for partnership returns filed for tax years beginning after December 31, 2017, the new partnership audit regime changes the way partnership adjustments are determined, and for the first time, makes a partnership liable for U.S. federal income […]

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Should Tax Reform Change your Home Buying Strategy?

13 Nov

Should Tax Reform Change your Home Buying Strategy?

November 13, 2018 | By | No Comments

Looking to purchase a house? Several factors require consideration, from rising interest rates to the economic climate. Have you thought about tax reform? The Tax Cuts and Jobs Act (TCJA) has changed the tax benefits of home ownership, financing and other related topics for taxpayers. Delap is here to answer the question, does tax reform […]

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Employee Benefit Plan Guide for Plan Administrators – Part 4: Switching Custodians

13 Nov

Employee Benefit Plan Guide for Plan Administrators – Part 4: Switching Custodians

November 13, 2018 | By | No Comments

What can mean the difference between a poorly or well-managed plan? Often, it is the level of service provided by third-party service providers. Plan administrators should evaluate their service providers on a regular basis. This includes weighing factors such as fees, performance, and responsiveness to inquiries. Is the service provider meeting the needs of the […]

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Tax Reform Depreciation Updates

08 Nov

Tax Reform Depreciation Updates

November 8, 2018 | By | No Comments

The Tax Cuts and Jobs Act (TCJA) made some significant changes to depreciation that can help reduce your tax bill!  Under the new law, you will be able to deduct more than last year. Two ways to get deductions: Section 179 Property Section 179 maximum deduction increased from $500,000 to $1 million. The new law […]

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