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  • LIBOR no more: How to prepare for the rate’s expected demise

    Winter 2020
    Newsletter: Community Banking Advisor

    Price: $225.00, Subscriber Price: $157.50

    Word count: 908

    Abstract: For decades, financial institutions around the world have used the London Interbank Offered Rate (LIBOR) as a reference interest rate for loans and other financial instruments. But over the last several years, the marketplace has lost confidence in LIBOR for several reasons. This article explains that LIBOR will likely be discontinued after 2021 and that a global effort is currently underway to identify alternative reference rates. It notes the importance of working with the bank’s advisors to identify an appropriate reference rate for the bank — drafting fallback language that reflects the bank’s particular circumstances.

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  • Tax Cuts and Jobs Act – Planning can help your nonprofit minimize negative effects

    Spring 2018
    Newsletter: Nonprofit Observer

    Price: $225.00, Subscriber Price: $157.50

    Word count: 908

    Abstract: The Tax Cuts and Jobs Act (TCJA) offers plenty for nonprofits to mull over and plan for. This article outlines how changes to the standard deduction and doubling of the estate tax exemption are expected to reduce charitable giving. It also covers the law’s effect on unrelated business income tax, executive compensation and tax-exempt bonds.

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  • Simpler accounting option now available for leasing entities

    Winter 2015
    Newsletter: Construction Industry Advisor

    Price: $225.00, Subscriber Price: $157.50

    Word count: 908

    Abstract: FASB’s Accounting Standards Update (ASU) No. 2014-07, Applying Variable Interest Entities Guidance to Common Control Leasing Arrangements, offers private companies a simpler way to account for certain related leasing entities. Construction businesses that adopt the alternative can avoid the potentially costly variable interest entity (VIE) analysis associated with these entities and need not consolidate these entities on their financial statements. This article explains why this can be advantageous for contractors. A private company may opt out of the VIE rules with respect to a leasing entity, but, as a sidebar explains, this isn’t right for every contractor.

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  • Staying on steady ground – Health care law entails ongoing planning, preparation

    Summer 2011
    Newsletter: Management & Tax Concepts

    Price: $225.00, Subscriber Price: $157.50

    Word count: 908

    Abstract: Although the passage of the Patient Protection and Affordable Care Act (PPACA) is no longer news, opponents are still lobbying for its repeal, and there remain questions about whether every provision will come to fruition. Companies will need to conduct ongoing planning and preparation to ensure their PPACA compliance. This article discusses the future tax penalty for some companies that do not provide coverage (and a tax break for those that do), stricter restrictions on insurance companies, and present rules regarding coverage to employees’ dependent children. A sidebar explains that small businesses currently have the option of adopting a simplified cafeteria health care plan.

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