News
Every now and then we come across an article or news item that is relevant to many of our clients. We will post them here. Check below.
Changes to the “Notice to Reader” – New Standards for Compilation Engagements
Effective December 14, 2021, there are new standards for compiled financial information. Your financial statements will look similar, but there will be some changes. Please read the attached briefing to learn more.
If you are a third party receiving financial information or if you provide your own financial statements to any third parties like lenders, these changes will impact them as well. Please read the attached briefing to learn more.
Underused Housing Tax
In efforts to address the national housing crisis, there were numerous tax changes affecting real estate. The first change is the implementation of a new tax affecting residential real estate owners. Make sure you are onside as the penalties for not filing are steep.