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“Our teams, our training and our events are all focused solely on private companies and we see the business issues you face through your lens, not ours."
Executives in US privately-held companies are not changing their views on prospects for still-robust US economic growth in 2019, according to PwC’s Trendsetter Barometer first-quarter findings. Concerns instead are intensifying around the health of the global economy, where sentiment has turned negative, and over gridlock in Washington D.C. on issues that factor in the success of their business, a blueprint for trade relations, immigration reform and US infrastructure development, according to a number of comments volunteered by panelists.
Even with a full tax year behind us under the landmark US federal tax reform, we continue to encounter a lot of questions and concerns, as well as interest in exploring the investment considerations that changes to tax laws can create.
High-net-worth individuals will pass along wealth someday just as they pass down values now. Managing wealth can be particularly complex as policies and tax laws change. Employing financial, legal, and tax professionals can help, but families must be vigilant in understanding and evaluating their work.
Whether your company is public or private, the new lease accounting standard, ASC 842, remains an important issue. For most public companies, the adoption deadline has passed, and the focus is now on quarterly reporting under the new standard.
By contrast, many private companies and non-calendar year-end public companies are just gearing up or are still at work adopting ASC 842. While they have plenty of work ahead, private companies can benefit from the many lessons learned from public companies’ implementation experience.