BLS Insights

Discover the depth of BLS knowledge and information.

Month: December 2018

Accounting for Grants and Contributions (ASU 2018-08) – Part I

December 20, 2018

On June 21, 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-08: Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made.

Learn More >>

It’s almost 1099 Season! Time to Get Ready

December 18, 2018

As the end of the year quickly approaches, the January 31, 2019, 1099-MISC filing requirement is on the horizon.

Learn More >>

UPDATE – IRS Issues Guidance on Employee Parking and Unrelated Business Taxable Income for Nonprofit Organizations

December 13, 2018

When the Tax Cuts and Jobs Act (TCJA) was signed into law in December 2017, it amended Section 274 and Section 512 of the Internal Revenue Code (Code) and opened the door for the potential of nonprofit organizations generating unrelated business taxable income (UBTI) due to the parking they provide to their employees.

Learn More >>

Need Additional Information?

If you need more information, please contact us so we can connect you with one of our CPA advisors who will be committed to your business and personal success. BLS is here to help!