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Delap Blog - Accounting Updates, Resources, and News

02 Jan

Common Cybersecurity Issues Financial Institutions Face and How to Address Them

January 2, 2019 | By | No Comments

Since 1992, Delap Cyber has served a wide variety of financial institution clients, from national banks to local credit unions. But no matter the size of the institution, one constant rings true: all financial institutions face the ongoing challenge of staying on top of cybersecurity. In this article, we outline some of the cybersecurity issues […]

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31 Dec

New Rules on Interest Expense Deduction and Depreciation for Auto Dealers

December 31, 2018 | By | No Comments

The Tax Cuts and Jobs Act of 2017 (TCJA) was beneficial to taxpayers in many ways. One would hope so considering the name of the Act. However, there were a few aspects of the TCJA that were unfavorable from the taxpayer’s standpoint. Here we will look at just one of those unfavorable provisions in relation […]

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27 Dec

Financial Institutions: Don’t Ignore the New Revenue Recognition Standard Because It Lacks Interest

December 27, 2018 | By | No Comments

Back in 2014, the Financial Accounting Standards Board (FASB) issued ASU 2014-09, Revenue from Contracts with Customers, which created a new section in the FASB’s Accounting Standards Codification: ASC Topic 606 (ASC 606). Prior to the establishment of ASC 606, the revenue recognition guidance in GAAP consisted of some broad revenue recognition concepts, along with […]

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18 Dec

199A: Passthrough Deduction Provides Ample Opportunity for Tax Planning

December 18, 2018 | By | No Comments

One of the more publicized changes under The Tax Cuts and Jobs Act (TCJA) is the Section 199A deduction – commonly known as the Qualified Business Income Deduction.  This deduction was designed to keep the tax rate on passthrough entity income competitive with the new lower corporate tax rate of 21% by providing a deduction […]

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17 Dec

Partnerships: What to do Before you File!

December 17, 2018 | By | No Comments

On December 13th Delap hosted a webinar on the new partnership audit rules. If you missed the live webinar you’ll find the link to the recording below.  As a follow-up to the webinar, the team at Delap wanted to outline some of the action items needed by partnerships before filing your 2018 partnership tax returns. […]

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