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Real estate professionals and investors will inevitably encounter situations where selling a property becomes necessary. The classification and accounting treatment can significantly impact their financial statements. ASC 360, under US GAAP, requires that long-lived assets be classified as held for sale in the period in which all of the held-for-sale criteria are met. Once all…
When people think of research and development (R&D), they often picture tech startups or pharmaceutical labs; rarely does the conversation turn to oil and gas. Yet in hubs like Houston, the energy industry is one of the most innovation-driven sectors in the United States and a prime candidate for the federal R&D tax credit under…
The Orphan Drug Credit (ODC) is a powerful federal tax incentive designed to encourage the development of treatments for rare diseases, generally defined as conditions affecting fewer than 200,000 individuals in the United States. For biotechnology and pharmaceutical companies advancing therapies through clinical trials, the ODC can deliver a significantly enhanced tax benefit compared to…
Tune in to discover valuable insights into the world of financial leadership and learn the strategies these C-Suite executives use to ensure financial health and navigate the complexities of today’s business environment.
On March 31, 2026, the Department of Labor (DOL) issued a proposed rule specific to 401k plans on “Fiduciary Duties in Selecting Designated Investment Alternatives.” This comes at a time when alternative investments are becoming more widespread. While alternative investments may have triggered this proposed ruling, the more important takeaway is how the DOL is…
As partner-in-charge of Withum’s Los Angeles office, Chris plays a pivotal role in the Firm’s growth on the West Coast. With nearly 25 years of experience in the profession, he specializes in assurance and business consulting services to emerging and middle-market companies. In addition to serving technology companies and professional services firms, Chris holds an advanced-level certificate in 401(k)…
