HM&M Accounting, Audit and Assurance, & Tax Blog

With Increased Activity and Demand, Increased Disputes in the Midstream

BDO Webinar Recap By Clark Sackschewsky and Bob Broxson In our recent webinar, Navigating Midstream Energy Disputes: The Key to U.S. Oil & Gas Growth, BDO’s Natural Resources and Energy Disputes leaders, joined by Robert ...

Family Office Structuring in Light of Lender Ruling

Recent court rulings and tax reform legislation has an impact on family office expense deduction. The lack of definition and bright-line test determining “trade or business activities” means that we must carefully consider the distinct ...

Final Regulations Remove Two-Year Deferral of Advance Payments for Inventoriable Goods Under Section 1.451-5

On July 11, 2019, the IRS and Treasury released final regulations removing Section 1.451-5 of the Income Tax Regulations as a result of the changes made to Section 451 under the 2017 tax reform known ...

Unicorns of Today, Giants of Tomorrow

When the term ‘unicorn’ was coined by Aileen Lee in 2013 to describe private startups valued at over $1 billion, just 39 of such companies existed. Less than seven years later, that number has skyrocketed ...

FASB Issues Transition Relief for Credit Losses Standard

Summary The FASB issued ASU 2019-05[1] to allow entities to irrevocably elect the fair value option for certain financial assets previously measured at amortized cost upon adoption of the new credit losses standard. The new ...

Deadline Approaches for Remedial Amendments for 403(b) Plans

Maintaining compliance for 403(b) retirement plans historically has been challenging given the lack of historical regulatory oversight, guidance from the Internal Revenue Service (IRS), and non-profit organizations’ limited resources. But the IRS has taken steps ...

First-Time Plan Audits: What to Expect

Download PDF. Growing beyond 100 employees is an important landmark in a company’s history. While companies may view crossing this threshold as cause for celebration, the Department of Labor (DOL) may view it as a ...

IRS Releases New Round of Qualified Opportunity Zone Proposed Regulations – Observations Regarding Certain Key Provisions

Yesterday afternoon, the U.S. Treasury and the Internal Revenue Service (IRS) published a 169-page document setting forth a second round of proposed regulations regarding the new Qualified Opportunity Fund (“QOF”) investment vehicle. Generally, these new ...

A Day in the Life of an Audit Senior

Hello – My name is Trey Dalton, and I’m an Audit Senior at HM&M. I began as an intern, then took a full-time staff position after graduating from UNT with a Masters in Accounting. After ...

A Day in the Life Of a Tax Senior

My name is Kelli and I am a Tax Senior at HM&M, and this is a day in my life. First, a little background. I attended Texas AM&M University at Commerce where I earned my ...

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Announcing our 40th Anniversary and a fresh new look for HM&M

At Huselton, Morgan, and Maultsby, we are so proud to be celebrating 40 years of renowned business and meaningful client relationships. From the start, it has been our vision to create a firm devoted to ...

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3 strategies that can be used to increase your charitable giving “bang for the buck”

Do you make charitable contributions? If so, read on. We may be able to help you cut the costs of charitable giving – or increase the size of your contributions without costing any more in ...

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