General

2017 February News in Review

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Sansiveri’s 2017 February News in Review is a summary of news, events and links that we shared throughout the month of January. Just in case you missed an earlier post or email, this issue includes information about David Lichtenstein's New Blog: Sir-Tax; how new lease accounting rules may affect...

Amazon Makes Friends With the RI Division of Taxation

Online Shopping

Just what is use tax? -by David Lichtenstein. CPA, MST You know that silly question that your accountant asks you every year about out-of-state or online purchases that you made, which may be subject to Rhode Island use tax? Cue the sound of crickets chirping. Well, let me briefly and...

Introducing Sir-Tax

Dave L

THIS JUST IN: RHODE ISLAND CPA DAVID LICHTENSTEIN HAS EPIPHANY: STARTS TAX BLOG (SIR-TAX) DURING TAX SEASON! The Five Most Common New Year's Resolutions: • Exercise (I personally like to add a few pounds to keep warm in the winter.) • Eat healthy (Doesn't pizza contain all the major...

FASB Proposes to Simplify the Classification of Debt

long-term goal

by Linda Marie Pearson, CPA, CFE On January 10, 2017, FASB issued an exposure draft to simplify the classification of debt in a classified balance sheet (current versus noncurrent). The amendments in this proposed Update will replace the current, fact-specific guidance with “an overarching, cohesive principle” – the...

FASB Focuses on Inventory Disclosures

Businessman working on logistic inside stock room with touchscreen tablet.

-by Linda Marie Pearson, CPA, CFE, Principal On January 10, 2017, FASB issued an exposure draft to change the disclosure requirements of inventory. The proposed main provisions include required disclosures for: Disaggregating inventory by component (for example, raw materials, work-in-process, finished goods, and supplies). Note: While many companies...

Amazon to Collect RI Sales Tax

Amazon package

Things just got a little bit more expensive. Rhode Islanders will have to pay sales tax when making purchases on Amazon, just like our neighbors, Massachusetts and Connecticut. The company voluntarily agreed to collect Rhode Island’s 7% sales tax beginning on February 1, 2017. Amazon currently collects sales tax...

2017 January News in Review

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Sansiveri’s 2017 January News in Review is a summary of news, events and links that we shared throughout the month of December. Just in case you missed an earlier post or email, this issue includes information about Jason DaPonte being named Partner; crowdfunding; restricted cash & the statement of...

Jason M. DaPonte Named Partner of Sansiveri

Sansiveri, Kimball & Co, LLP (Sansiveri) is pleased to announce that Jason M. DaPonte, CPA, CCIFP, CIT, has been named a partner of the firm. Jason has over 14 years of business and public accounting experience, providing advisory and auditing services to clients in industries including construction, manufacturing, wholesale,...