In May 2022, the Florida Legislature convened for a Special Session and brought about sweeping changes to condominium and cooperative associations' approach to the long-term repair and replacement of common properties with the passage of Senate Bill 4-D (SB 4D). You can find our first article on this subject in the Summer 2022 issue of Read More
Blog
Thinking of Switching Lease Auditors? Here’s What You Need to Know
After the pandemic brought two-plus years of upheaval, commercial real estate is beginning to normalize. However, amid growing economic challenges — including inflation, rising interest rates and more — and the looming possibility of a downturn or recession, many business leaders are looking to optimize their real estate portfolio. Conducting an annual lease audit is Read More
What’s Driving Margin Erosion in Healthcare?
Healthcare Has a Margin Erosion Problem The past few years have significantly destabilized the healthcare industry’s financial footing. According to our 2023 Healthcare CFO Outlook Survey, 60% of healthcare CFOs could not meet the terms of their bond or loan covenants in 2022 — up from 41% in 2021. As unfavorable economic conditions continue to Read More
IRS Denies Basis Step-up for Assets of Irrevocable Grantor Trust Not Included in Grantor’s Estate
The IRS on March 29 released Rev. Rul. 2023-2, which confirms that the assets of an irrevocable grantor trust not includable in the grantor’s gross estate do not receive a basis adjustment under Internal Revenue Code Section 1014. In the revenue ruling’s fact pattern, individual A established an irrevocable trust in which A transferred assets to
Read More
Cavanaugh is Growing
Cavanaugh & Co. is Growing – We are on the List of Best Places to Work in 2020 The accounting industry offers many rewarding opportunities for skilled professionals. As Cavanaugh & Co. grows, we welcome new staff members on a regular basis. We are pleased to announce that our company was selected as one of
Read More