Today, many banks are working with struggling borrowers on loan modifications. Recent guidance from the Financial Accounting Standards Board (FASB) confirms that short-term modifications due to the COVID-19 pandemic won’t be subject to the complex accounting rules for troubled debt restructurings (TDRs). Here are the details. Accounting for TDRs Under
The housing market is hot right now, despite the ongoing coronavirus pandemic. In fact, the National Association of Realtors (NAR) reports that existing home sales and prices are up nationwide, compared with last year. A sizeable shift in remote work ability and some looking to move to less densely populated
Do you own a business with one or more individuals? Undoubtedly, your interest in the business represents a substantial part of your net worth and is likely your “pride and joy.” So it’s normal if your fondest wish is for the business to continue long after you’re gone or for
Under current law, 100% bonus depreciation will be phased out in steps for property placed in service in calendar years 2023 through 2027. Thus, an 80% rate will apply to property placed in service in 2023, 60% in 2024, 40% in 2025, and 20% in 2026, and a 0% rate
Marketplace changes during the COVID-19 crisis have caused many companies to make major strategic shifts in their operations — and some changes are expected to be permanent. In certain cases, these pivot strategies may need to be reported under the complex discontinued operations rules under U.S. Generally Accepted Accounting Principles.
Dalby, Wendland & Co., P.C., (DWC) is pleased to announce Aaron J. May recently attained the Certified Public Accountant (CPA) designation after passing the Uniform Certified Public Accountant Examination, which is set by the American Institute of Certified Public Accountants. The Uniform CPA Examination protects the public interest by helping
Dalby, Wendland & Co., P.C., (DWC) is pleased to announce Bookkeeper Denise Distel recently attained designation as a QuickBooks Online Advanced Certified ProAdvisor. The QuickBooks Online Advanced Certification is a coveted certification for ProAdvisors who are looking to distinguish themselves to help solve complex problems for their clients, including advanced
Happy Work Anniversary to Elaine DuBois! Elaine has been with our Glenwood Springs office for 25 years – WOW! For her years of service, Elaine gets a travel voucher to relax and enjoy time away. Congratulations – we are so fortunate to have you with us!
In a world that’s increasingly paperless, you’re likely becoming accustomed to conducting a variety of transactions digitally. But when it comes to your last will and testament, only an original, signed document will do. Original vs. a Photocopy Many people mistakenly believe that a photocopy of a signed will is
Many businesses now offer various types of healtchare accounts that reimburse employees for medical expenses on a tax-advantaged basis. These include health Flexible Spending Accounts (FSAs), Health Reimbursement Arrangement (HRAs) and Health Savings Account (HSAs, which are usually offered in conjunction with a high-deductible health plan). Employees should get the
