2017 Proposed Tax Reform Legislation – Explained

  |  December 11, 2017

On December 2, 2017, the Senate passed its version of the "Tax Cuts and Jobs Act." This proposed tax reform will be reconciled with the House of Representatives' bill, which passed several weeks earlier. The final bill may become law by the beginning of the new year, and it is poised to make radical changes to the current tax code. To get a better sense of what each bill contains, including their differences from each other and the potential impact they could have on individual and business tax planning, view our guide here. Read More

GASB Financial Reporting Model “Improvements”

  |  August 23, 2017

When the Governmental Accounting Standards Board issued GASB Statement No. 34 in June 1999, it made drastic changes to how state and local governments, including tribal governments, did financial reporting. Now GASB is revisiting that statement and seeking input from stakeholders on how it can improve the model. This is an incredible opportunity to make your concerns known about the current GASB Statement 34 fund financial statements and the proposed changes to those statements.

The fundamental issue GASB is addressing is the form and content of governmental fund financial statements, including their measurement focus and basis of accounting. The objective is to make the statements more understandable for those making decisions based on a government’s fiscal health. Read more. Read More