More about Allyson Baumeister
Blog Posts by Allyson Baumeister:
-
Section 301 Trade Tariff Exclusions Extended
The U.S Trade Representative extended 77 of the 81 Section 301 tariff exclusions that were set to expire.
-
The Latest on Tariffs
April has been a busy month for U.S. lawmakers, as they continue their focus on China with increased tariffs.
-
Are You Ready to Transition or Exit Your Business?
As an owner, you may have reached a decision to sell your business, with the objective of optimizing the value of the asset representing 90+% of your net worth.
-
Tax Planning Strategies Now and Into the Future
There is still time before year end to capitalize on some tried and true tax planning strategies. These planning ideas will also be great in a week, month or year.
-
Florida Disaster Relief for Hurricane Ian
With President Biden officially declaring a federal disaster in Florida due to Hurricane Ian, federal aid has been made available including grants for temporary housing and home repairs as well as low-cost loans.
-
Superfund Chemical Excise Tax: Revived after Quarter Century
The Infrastructure Investment and Jobs Act signed by President Biden on November 15, 2021 reinstated the so-called Superfund Chemical Excise Tax (“SCET”) on Taxable Chemicals and Taxable Substances. The SCET is in effect for the period July 1, 2022 through December 31, 2031.
-
LEASE Common Denominator
ASC 842 dictates that lessees are required to use the rate implicit in the lease if it can be readily determined, when calculating the lease liability. This may be harder than it seems.
-
New LEASE on Life
There are many details to consider when determining the term of a lease under ASC 842.
-
At The Very LEASED
A lease exists when payment is made by one party to another in exchange for the right to control the use of an identified asset for a period of time. When considering accounting for leases, you should look to the terms and conditions included in the lease or contract.
-
The Path of LEASE Resistance
As you have likely heard, lease accounting under U.S. Generally Accepted Accounting Principles (U.S. GAAP) has changed for private companies for fiscal years beginning after December 15, 2021. For most entities, this means the rule is effective now, for calendar 2022.