SOC Tip #5

Service Organizations should align their summary of the system description with their controls matrix. It is a good practice to use the controls matrix as an outline when writing a systems description

What is the Basis of Property Received as a Gift?

When a person receives a property as a gift, it’s wise to remember that there are tax consequences if the property is sold. In the event of a sale, a taxpayer must calculate “basis” in the property as a baseline for determining overall gain or loss. While basis is the purchase price in most property transactions, special rules apply when property is received as a gift...

Buckle Up: Why the Oil Price Malaise May Not Change Anytime Soon

The past couple of years have not been the best of times for producers of U.S. commodities. This is particularly true for domestic oil patch operators, who continue to struggle with a pricing trend that has by no means been friendly to profitability.

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