Experts Corner

Stay Up-To-Date With AFP

At Allied Financial Partners, we know that an informed client is our best client.

Throughout the year our staff writes articles which provide valuable information and insight to our clients. Check back often for the latest information on ways to manage your business and personal financial needs more efficiently.

May
09
2018

Highlight of Significant Changes From The Tax Cuts & Jobs Act Of 2017

In December 2017, the President signed into law the Tax Cuts and Jobs Act (“Tax Act” or “Act”), which introduces the most significant changes to the U.S. tax system since 1986. With a few exceptions, the tax provisions are generally effective starting in 2018. However, many of the changes to tax regulations for individuals are temporary and scheduled to sunset after 2025. Below are some highlights of the significant changes to individual as well as business taxpayers. As this information is general in nature, it is not intended to address all the Tax Act changes that may impact you.

Sep
13
2017

Revenue Recognition Summary

In May 2014, the Financial Accounting Standards Board (FASB) issued ASU 2014-09 “Revenue from Contracts with Customers.” This mandatory reporting standard provides a comprehensive, industry-neutral revenue recognition model intended to increase financial statement comparability across companies and industries and significantly reduce the complexity inherent in today’s revenue recognition guidance.

Jul
05
2017

FASB’s New Lease Accounting Standard

On February 25, 2016, after nearly 10 years of deliberations and draft proposals, the Financial Accounting Standards Board (FASB) issued ASU 2016-02, its new standard on accounting for leases. While financial reporting implications may not occur immediately, it is imperative to have a thorough understanding of these changes now when negotiating long-term leases or financing arrangements.



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Securities offered through Cambridge Investment Research, Inc. a broker-dealer, member FINRA/SIPC, Investment Advisor Representative, Cambridge Investment Research Advisors, Inc. a Registered Investment Adviser. Cambridge does not provide tax services. Accounting, Payroll, Fixed & Health Insurance, and HR Services are offered through Allied Financial Partners. This communication is strictly intended for individuals residing in the states of AZ, CO, CT, FL, IL, MD, MI, NC, NH, NJ, NV, NY, PA, VA, WA. No offers may be made or accepted from any resident outside the specific state(s) referenced. Cambridge and Allied Financial Partners are not affiliated.