The U.S. Senate has passed, and President Trump is expected to sign into law, a broad package of reforms aimed at the IRS. Among other things, the Taxpayer First Act contains several new protections for taxpayers, along with provisions intended to improve the IRS’s customer service. Stronger Safeguards against Identity Theft Several of the bill’s […]
Every financial transaction your company records generates nonfinancial data that doesn’t have a dollar value assigned to it. Though auditors may spend most of their time analyzing financial records, nonfinancial data can also help them analyze your business from multiple angles. Gathering Audit Evidence The purpose of an audit is to determine whether your financial […]
On Monday, June 17, Miller Cooper participated in the annual Rabine Group Foundation Golf Outing as a Platinum Sponsor. From left, Kristen Fitzpatrick, Managing Principal; Nate Summers, Principal; Ross Pearlstein, Principal and CEO; Tony Burke, Principal; and David Schmitt, Senior Manager.
The Illinois legislature recently completed its 2019 session and a significant number of tax law changes were enacted. Below is a summary of the tax bills that passed. Please contact a member of your Miller Cooper & Co., Ltd. team if you would like to discuss how any of these Illinois law changes may impact […]
The standard for valuing certain assets and liabilities under U.S. Generally Accepted Accounting Principles (GAAP) is “fair value.” This differs from other valuation standards that may apply when valuing a security or business interest in a litigation or mergers and acquisitions (M&A) setting. FASB Guidance The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification […]