- Effective July 1, 2015, capital equipment used in Minnesota in the manufacturing process is exempt from sales tax at the time of purchase.
- US Supreme Court announces Affordable Care Act decision that taxpayers who purchase health insurance on a federal healthcare marketplace exchange are entitled to subsidized premium credits.
- Since the Committee of Sponsoring Organizations (COSO) issued its Internal Control — Integrated Framework (2013 Framework) in May 2013, many organizations have implemented the new framework to comply with the initial December 15, 2014 transition deadline. The 2013 Framework requires management to assess whether 17 principles are present and functioning, which is a change from the previous framework. Further, the 2013 Framework includes points of focus, which are important characteristics of the 17 principles and assist management with determining whether controls are properly present and functioning.
- We are pleased to have the opportunity to provide feedback to the Financial Accounting Foundation (FAF) with respect to the Private Company Council (PCC). At Baker Tilly Virchow Krause, LLP (Baker Tilly) we have strong support for the PCC and its efforts to date in improving financial reporting for the users of private company financial statements.
- Understanding the complicated rules of retirement distribution planning can prevent missteps and help preserve significant portion of an individual’s assets.
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