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The Rundown | 2023 Mid-Year Report

Cherry Bekaert

The Financial Accounting Standards Board (FASB) has issued only two new Accounting Standard Updates (ASUs) and the Government Accounting Standards Board (GASB) has not issued any new GASB Statements in 2023. Standard setters have been relatively inactive this year. Securities and Exchange Commission (SEC).

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Year-End Tax Planning Strategies for Businesses

KROST

These two incentives can provide significant tax relief in 2020 if financed and placed in service by midnight, December 31, 2020. IRS regulations also provide a $2,500 de minimis safe harbor threshold for taxpayers without an applicable financial statement. Research Tax Credit (“R&D Tax Credit”).