Industry FocusOur firm has specialization in serving companies in a number of key industries including insurance, nonprofits, construction, manufacturing, SEC registered companies and professional athletes. Learn more about JLK Rosenberger and discover why so many across California and Texas have entrusted us with their audit, tax, consulting and business advisory needs.
News & Updates
Tax Cuts and Jobs Act Key Elements
Individual and corporate tax returns will look significantly different come April of 2019. The Tax Cuts and Jobs Act passed in both the House and Senate last week and was officially signed into law on Friday by the President. Key changes to the tax code include a sharp reduction in the corporate tax rate, formation of new, lower tax brackets and elimination of certain deductions and credits.
California Voluntary Disclosure Program
Most entrepreneurs go into business because they have a passion for helping others, are committed to a product or believe in the service offered. Whatever the motivating drive behind starting the company, it’s almost certain that a love of taxes wasn’t behind it. Most business owners sooner or later discover that planning for and paying federal and state taxes are a necessary part of doing business.
Principle-based Reserving Comes to Roost for Life Insurance Companies
Effective January 1, 2017 the long-awaited Principle-Based Reserving rules, or PBR, became a reality. PBR had its birth in 2009 with the National Association of Insurance Commissioners (NAIC) adoption of the Standard Valuation Law (SVL), which subsequently developed the Valuation Manual.
Tax Reform Impact on SSAP 101
The tax law was signed on December 22, 2017. Many of the amendments are to take effect in 2018, but there are sections that take effect on the date the bill was signed. On January 10, 2018, the Statutory Accounting Principles (E) Working Group voted to approve the following non-substantive revisions to SSAP No. 101-Income Tax.