Article

Ready, Fire, Aim: Missing the Mark on Your…

Jul 16th, 2018

My uncle has a choice to make; he like many other Baby Boomers owns a closely held business (CHB) and does not have a succession plan. It’s not that my uncle hasn’t thought about this…
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Article

International Implications of Downward…

Jul 14th, 2018

What’s changed? The Tax Cuts and Jobs Act (“Tax Reform” or “TCJA”) expanded the pool of potential U.S. shareholders by repealing the provision that prohibited the attribution of stock ownership from a foreign person to…
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Article

Breakdown of Vehicle Expenses

Jul 11th, 2018

Business owners are often faced with several questions when it comes to the acquisition of a vehicle that will be used both personally and in the business. Some of these questions, which are discussed in…
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Article

Quarterly Accounting Update – Q2 2018

Jul 09th, 2018

Welcome to the Second Quarter issue of our Quarterly Accounting Update. Each quarter, we will provide you with up-to-date information for consideration in your financial reporting and disclosures. Our goal is for you to have…
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Article

Change is Hard, is Your Business Ready for…

Jul 03rd, 2018

In life, if we don’t change, we don’t grow. If we don’t grow, we don’t prosper. This same principal applies to business. If a business doesn’t make changes, over time the business will stop growing…
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Article

South Dakota v. Wayfair, Inc. Decision

Jun 26th, 2018

Groundbreaking decision finds “unsound and incorrect” requirement of physical presence for sales tax nexus no longer required. On June 21, 2018, the U.S. Supreme Court struck down the “physical presence” standard for sales tax nexus,…
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Article

New Guidance on Reporting Construction…

Jun 26th, 2018

Introduction: GASB 89 On May 22nd, the Governmental Accounting Standards Board (GASB) issued new guidance to establish accounting requirements for the interest costs incurred before the end of a construction period. The new standard, GASB…
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News

Grounded in Tradition with an Eye to the…

Jun 18th, 2018

Elliott Davis harnesses nearly 100 years of experience to re-imagine the financial services landscape and create innovative solutions for the future GREENVILLE, S.C. (June 18, 2018) – Shifts in consumer behavior, innovations in technology and the…
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Article

Cybersecurity Update: South Carolina…

Jun 11th, 2018

On May 3, 2018, the governor of South Carolina signed the South Carolina Department of Insurance Data Security Act. The law is intended to protect personal information in the State of South Carolina from cybersecurity…
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Article

The Economic Growth, Regulatory Relief and…

May 31st, 2018

The Economic Growth, Regulatory Relief and Consumer Protection Act (S. 2155) has now been signed by the President on Thursday May 24, 2018. The act will provide regulatory relief for financial service companies that have…
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Article

USDA Rural Development Changes Reporting…

May 22nd, 2018

The United States Department of Agriculture (USDA) Rural Housing Service (the Agency) recently issued a final rule on revised audit requirements. The Agency's goal was to establish risk thresholds, bring their requirements in line with…
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Article

Revenue and Expense Recognition Overhaul

May 22nd, 2018

On February 1, 2018, the GASB issued an Invitation to Comment (ITC), Revenue and Expense Recognition, which discusses a comprehensive revenue and expense recognition model for state and local governments. The FASB has recently overhauled…
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