The financing to purchase a residential property can be either a traditional loan from an institutional lender, a purchase money mortgage from the seller of the property financed, or a hard money loan from a private lender. Institutional Lender This is the most common form of financing obtained in connection with a residential purchase. The loan application is based on the economic conditions of the borrower. Once this is approved, the institutional lender issues a “commitment letter”, which summarizes the terms...

America has not seen double digit inflation since 1980. While we are still far from double digits, the 7% inflation rate in 2021 was twice what it has been over the last 30 years. Economists don’t agree on whether this inflationary trend will continue into 2022 and beyond, but most feel that it will at least be higher than in recent history. LIFO Inventory Valuation Method LIFO, (Last In First Out) is a method of accounting used to value inventory. If...

The job market has shifted tremendously in 2020. Frequently, hiring managers and decision-makers ask our team, "With unemployment being so high, where are all the candidates?" or "Why should I hire a recruiter when unemployment is so high? Can't I just post the job and have my pick of candidates?" Let’s take a look at these questions. The first thing we suggest is to look at the industry you are in. We are in unprecedented times and facing statistics and...

The European Commission proposed a comprehensive set of measures on Tuesday to ensure the EU’s security of supply, resilience, and technological leadership in semiconductor technology. The European Chips Act is hoped to increase Europe’s competitiveness and resilience, while also driving the digital and green transition. If successful, it will help the EU achieve its goal of doubling its existing market share to 20% by 2030. Recent global semiconductor shortages forced the closure of factories in a wide range of industries,...

By Mathieu Aimlon, CPA | Expert-comptable diplômé, France (non inscrit) | The Internal Revenue Service (IRS) is charged with the administration of federal taxes. Each year, the federal agency collects about $3 trillion in taxes and generates nearly 96% of the funding that the Federal Government needs for its operations. During the fiscal year October 1, 2019 September 30, 2020, the IRS processed more than 240 million tax returns and forms, down from 253 million the previous fiscal year. Individual...

This article is part of Portolano Cavallo’s “INFORM@Life Sciences” Newsletter. Click here to subscribe | On January 31, 2022, EU Regulation 536/2014 on clinical trials of medicinal products for human use (“Clinical Trials Regulation” or “CTR”) finally went into effect more than seven years after its approval, but Italy is not yet ready for its application. This process has taken a long time (much longer than expected) due to the need to develop a complex IT architecture, i.e., a European portal for the...

The corporate world as we have known for the past several years is about to be shaken by the Web3, which is the latest Internet development empowering its users to transact through decentralized blockchain platforms without the need to rely on Web2 giants (such as Facebook, Youtube, and the likes). Specifically, there is an evident lack of coordination and meaningful communication between companies and several of their contributors (influencers and gig participants, or anyway its contractors). These issues are tackled...

LATEST MATTERS FROM THE INTERNATIONAL ACCOUNTING STANDARDS BOARD (IASB) The following is a summarised update of key matters arising from the discussions and decisions taken by the IASB at its remote meetings on the following dates: 15-19 November 2021 25-28 December 2021 The full update, as published by the IASB, can be found here. POST-IMPLIMENTATION REVIEW “PIR” The IASB decided that in the second half of 2022 it will: Begin the PIRs of IFRS 15 and the impairment requirements in IFRS 9; and Consider when...