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The Ripple Effect of Tariffs: Inventory, Pricing and Financial Statements

Withum

ASC 330 requires that companies analyze their inventory to ensure it is stated at the lower of cost or net realizable value, defined as the estimated selling price in the ordinary course of business, less the cost of transportation. Missteps can lead to misstated financials, compliance issues, or unexpected hits to profitability.

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Major Changes Affecting Nonprofits and Other Tax-Exempt Organizations Proposed in the One, Big, Beautiful Tax Bill

Withum

The bill would treat expenses for employee transportation benefits (such as transit passes or parking provided by an exempt organization) as taxable income subject to UBIT. Exempt organizations should consider the need to budget for this added tax expense or the potential impact of adjusting their transportation benefit policies.

Tax
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Monday Morning Accounting News Brief: Venture Capital Eyes Accounting Firms For Profit; Big 4 Firms Tell Staff to Cool It on Travel Expenses | 1.13.25

Going Concern

These venture investors believe generative AI technology can make traditional services businessesespecially those heavy on knowledge work, like accountingmore profitable and scalable, so much so, that they become desirable targets for the sky-streaking growth ambitions of venture capitalists. ” I know how y’all are.

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Changes Affecting Not-for-Profit and Other Tax-Exempt Organizations in New Tax Law

Withum

The longstanding 10% of income ceiling on corporate charitable deductions remains in place; amounts above 10% are still non-deductible, with a carryforward for excess contributions. The Senate Finance Committee removed this proposal entirely in its version, and the final negotiated bill did not include any tax on transportation fringes.

Tax
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Top Remote Tax and Accounting Candidates of the Week | May 29, 2025

Going Concern

TAX & ACCOUNTING CANDIDATES FTE Tax and Accounting | Candidate ID #24291524 Education: BA Accounting and Finance Experience (years): 16+ years of accounting, audit and tax experience Work experience (detail): All in public accounting Preparation and review of tax returns Tax planning, research, projections and estimates Full cycle accounting through (..)

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Lime CFO On Riding Toward A Profitable Future

PYMNTS

Lime wants to be the first micro-mobility company to be profitable for the full year as of 2021. Ellis said COVID-19 has “fundamentally changed the profitability model of our business.”. Ellis said everything is on the table because it’s all relevant to Lime’s future profitability picture and ultimate corporate destination.

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Xero Beautiful Business Fund applications open for small business customers

Xero

Review the funding categories Eligible Xero small business customers – whether you’re for-profit or non-profit – will be able to apply for the following funding categories that best suit your needs. Strengthening community connection: For small businesses or non-profits who strive to give back to their communities.