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Tag: tax law

Nov 11, 2019

Finance Leases, Operating Leases and Hybrids: GAAP and Tax Considerations

Blog_GAAP and tax

Over the past few years, there have been several recent changes in GAAP and tax rules that impact the treatment of leases.  With some of these changes going into effect in 2020, it is an opportune time to review the cumulative effect of these changes. Caveat – The following discussion is intended to survey only tax and accounting aspects of leases, not the rules that would apply to determine ownership and title under state law, remedies, UCC issues, and the like.  Those rules use tests that are often different from the tax and accounting standards and add additional complexity. Finance… Read more

Mar 11, 2019

The Care and Feeding of Your Charity

According to Giving USA, in 2017 Americans contributed $410.02 billion to charity, crossing the $400 billion mark for the first time. Giving by individuals totaled an estimated $286.65 billion and $45.89 billion was gifted to foundations. There are over 1.5 million charitable organizations in the U.S., predominantly public charities and private foundations. A public charity receives most of its support from the general public. A private foundation, on the other hand, usually receives its support from one source – an individual, family, or corporation. Private Foundations The primary activity of a private foundation (as opposed to a private operating foundation)… Read more