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Josh Kirkbride, partner of UHY LLP certified public accountants, and longtime supporter of the P.C.U.P.S (Prostate Cancer Understanding Prevention Screenings) Foundation has been voted in as its newest board member.

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Recently, FASB issued ASU No. 2017-11, which changed the accounting for down round features and indefinite deferrals.

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2018 inflation-adjusted figures for contributions to HSAs have been released by the IRS.

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According to digital security provider Gemalto, despite the increasing number of data breaches and nearly 1.4 billion data records being lost or stolen in 2016, the vast majority of IT professionals still believe perimeter security is effective at keeping unauthorized users out of their networks. However, companies are underinvesting in technology that adequately protects their business, according to the findings of the fourth annual Data Security Confidence Index Survey.

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UHY welcomes Donna Frye, director of transfer pricing to our international tax services practice.

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A major change is on the horizon to how partnerships and LLCs are taxed and the relationships they have with their current and former partners. When the new audit regulations of the Bipartisan Budget Act of 2015 (the BBA rules) take effect Jan. 1, 2018, it will be the first time ever in the history of audits that a tax could apply to a partnership or LLC.

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According to UHY partner Christopher Byrne, the Internal Revenue Code provides that, in general, income from the sale of personal property is sourced based on the residence of the seller. Therefore a sale of personal property by a US resident is sourced in the United States, while such property sold by a non-resident of the United States is treated, for US tax purposes as sold outside the US.

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The word disruption historically has negative connotations associated with it. The specific definition stated by the Cambridge English Dictionary is to prevent something, especially a system, process or event, from continuing as usual or as expected. People are creatures of habit and would really prefer for things to stay the same. Disruption makes us uncomfortable. In layman’s terms, a disruption is a break from the status quo. 

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Adapting to change today is inevitable as economic stasis is not an option. The concept of resilience, the capability to nimbly adapt to and or drive change, and recover from difficulty, has emerged as a critical characteristic of complex systems in business enterprises. Change not only creates threats to business continuity it also creates opportunities for business value creation. When change occurs so too must business process innovations.

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Manufacturing companies that have equipment subject to the Michigan Essential Services Assessment (ESA) are required to certify through the Michigan Treasury Online website that the essential services tax liability is correct before the ESA can be paid.

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