Venture capital activity soared in 2014, with both deals and dollars reaching levels not seen in over a decade.
RubinBrown’s Construction Group recently attended the AICPA’s
Construction Industry Conference in Las Vegas, NV. The annual conference
focused on instructive guidance for CPA’s in public practice, CFO’s,
controllers and other construction industry specialists.
In recent years, the IRS has dramatically stepped-up its examination
activity around the Uniform Capitalization of Inventory rules (UNICAP).
Most taxpayers in the manufacturing and distribution industries can
benefit from a UNICAP review to proactively identify potential UNICAP
exposures before the IRS has a chance to do so upon exam.
The end of the calendar year usually coincides with an important time in
many law firms – partner promotions. In law firms structured as
partnerships, newly promoted partners can expect their tax situation to
change for the 2015 filing year. This is primarily due to the way
partnerships report income and how the income “flows through” to
partners of the firm.