When the Financial Accounting Standards Board (FASB) finally revealed its new revenue recognition standard (ASU 2014-09 – Revenue from Contracts with Customers) back in 2014, the standard was beyond complex. As a result, the FASB formed 16 industry task groups (including one for construction) to clarify and explain the standard, and issued five related standards.
As a business owner, you probably think of all the things you would like to do once you sell your business and enjoy your next venture. Or perhaps you have plans to travel, learn new skills and achieve personal growth. To do all of these things, however, it is essential that you make plans now to strengthen the value of your business prior to exiting.
On May 31, the Organization for Economic Co-operation and Development (“OECD”) issued a proposed approach to addressing challenges arising from the digitalization of the economy (the “Program of Work”). If it reaches consensus, the Program of Work could change “how taxing rights on income generated from cross-border activities in the digital age should be allocated among countries.”
This webinar discusses recent legislative, regulatory and administrative updates that affect companies claiming Georgia entertainment tax credits. Join Peter Stathopoulos, head of Bennett Thrasher’s Entertainment Practice, for a discussion.
In an article for Total Retail published on August 19, 2019, Peter Stathopoulos discusses California’s recent enactment of sales tax legislation aimed at remote sellers and marketplace facilitators following the U.S. Supreme Court’s decision in South Dakota v. Wayfair, which ruled that states can require businesses without a physical presence in the state to collect and remit sales tax from their transactions.
As baby boomers continue to retire, construction firms find it increasingly difficult to retain qualified workers. That said, certain demographic trends are giving construction companies a glimmer of hope that the tide may be turning—albeit slowly.
On Thursday, August 8, the BT recruiting team held the second annual Campus Recruiting Happy Hour, to officially kickoff the fall campus recruiting season. The firm recognizes that campus recruiting is not only our #1 recruiting source, but it also helps us develop a robust network and pipeline with the universities and the cities they are in, as we continue to grow.
Business owners probably think of retirement as a time to let go of all business stresses and to finally begin relaxing. Surprise—according to a recent study, more than 70% of former owners regret selling their companies less than a year after the sale. What causes so many to regret their decision? The culprit seems to be the lack of preparation on the part of the business owner.
Out of the blue, you are presented with an irresistible offer for your company. You hadn’t considered selling your prosperous business, until now, and you feel that you’re faced with two options: welcome the prospective buyer’s offer or walk away.
Bennett Thrasher is pleased to announce that it has been recognized as the 70th largest accounting firm in the nation by INSIDE Public Accounting (IPA) on its 29th annual ranking of the Top 100 Firms this year.
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