Recent articles
Tax on Tipping: How Restaurants and Bars Should Report Employee Tips
In most restaurants and bars, employees have the potential to earn a majority of their wages in tips. To make sure this tipped income is reported for tax purposes, certain food and beverage establishments are required to file Form 8027 at tax time. Below we dig into...
Lease Accounting Explained: New Standards, Lessee vs. Lessor, Changes, Calculations, & More
This article provides an overview of lease accounting, including defining lessee and lessor, updates to the accounting standards, and the benefits of a software solution.
Tax Considerations for Short-Term Rentals
February 24, 2022 By Amanda M. Mills, CPA, Tax Senior Manager Vacation Rental Amenities May Impact Tax Obligations Turning a spare room or vacation home into a short-term rental arrangement has proven to be a lucrative business opportunity and an income generator,...
Transitioning to ASC 842 for Nonpublic Entities
This article provides information about transition requirements the practical expedients available that may help with transition.
What You Can Do to Protect Yourself from the New Log4j Security Vulnerability Release
The post "What You Can Do to Protect Yourself from the New Log4j Security Vulnerability Release" appeared first on EideBailly.com. In December, several security vulnerabilities were released related to the tool Log4j, an application used to log error messages in...
How to Navigate a Remote Audit
The post "How to Navigate a Remote Audit" appeared first on EideBailly.com. There is no question that the COVID-19 pandemic has changed the business landscape. One thing that hasn’t changed, however, is your annual audit requirement. Some of the most significant...