Insight

WCS in I-95 Business: New Leasing Standards are Here

leasing standards | WCS in I-95 Business: New Leasing Standards are Here | Business Consulting and Accounting Services in Cecil County | Weyrich, Cronin & Sorra

Principal Karen Dojan, CPA recently contributed to I-95 Business Magazine with a helpful article all about the new leasing standards established by the Accounting Standards Update. Read on for a snippet and link to her full article. As always, please do not hesitate to call our offices for additional information and to speak to your representative about how this could affect your situation.

 

“After several postponements, including a one-year COVID-19 extension, the much-anticipated leasing standards established by Accounting Standards Update (AS) NO. 2016-02, Leases are nearing their effective date for nonpublic companies and non-profits. The new accounting standard will become effective for fiscal years beginning after Dec. 15, 2021, essentially starting with calendar year 2022 financial statements.”………….Read More.

 

Related Insights

Interested in an EV? How to qualify for a powerful tax credit | tax preparation in alexandria va | Weyrich, Cronin, and Sorra

Tax Prep, Planning & Strategy

Interested in an EV? How to qualify for a powerful tax credit

Sales and registrations of electric vehicles (EVs) have increased dramatically in the U.S. in 2022, according to several sources. However, while…
The kiddie tax: Does it affect your family? | tax preparation in cecil county | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

The kiddie tax: Does it affect your family?

Many people wonder how they can save taxes by transferring assets into their children’s names. This tax strategy is called income shifting.…
Weathering the storm of rising inflation | tax accountant in elkton md | Weyrich, Cronin & Sorra

Tax Prep, Planning & Strategy

Weathering the storm of rising inflation

Like a slowly gathering storm, inflation has gone from dark clouds on the horizon to a noticeable downpour on both the U.S. and global economies.…

Connect with us

Use the form below to send us an email. WCS responds directly to all inquiries and general questions within 24 hours of posting.

This contact form is deactivated because you refused to accept Google reCaptcha service which is necessary to validate any messages sent by the form.