How FASB ASC 606, Revenue from Contracts with Customers Affect You
In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers. The new revenue recognition standard will significantly affect the revenue recognition practices of most companies. The standard is effective for the .....
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Short-Term Rentals (4 of 4)
In this final blog post in this 4-part series of short-term rentals, we will review the eccentricities of laws in Vermont and Maine, states with a lot of tourist activity and many out-of-state owners of ski cabins and oceanfront homes. VERMONT Vermont views a small-scale short-term rental oper.....
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Short-Term Rentals (3 of 4)
In the previous blog post, we reviewed the tax and regulatory climate for short-term rental operations in Massachusetts. New Hampshire has some of the same requirements, but has made strides in reducing the complexity for the operator. NEW HAMPSHIRE New Hampshire has some of the same requireme.....
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Short-Term Rentals (2 of 4)
In a previous blog post, we addressed general definitions and federal tax impacts of a short-term rental activity. In the following blog posts (series 2 - 4), we will look at state and local implications of these sorts of properties. MASSACHUSETTS First, be aware of the recent change in State .....
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Municipal Year-End To-Do List!
The year goes by so fast and we are already in June. It is time to start thinking about your year-end processes. Maybe this is your first year closing the books or maybe you have done it for the past 30 years; there are always so many things to remember especially when you do them only once a year. .....
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