Haven’t Filed Your 2019 Business Tax Return Yet? There May Be Ways to Chip Away at Your Bill

The extended federal income tax deadline is coming up fast. As you know, the IRS postponed the payment and filing deadlines until July 15 that otherwise would have fallen on or after April 1, 2020, and before July 15. [...]

By |2020-06-29T14:20:21-04:00June 29th, 2020|Categories: Blog, COVID-19, Tax|Tags: , , , , |Comments Off on Haven’t Filed Your 2019 Business Tax Return Yet? There May Be Ways to Chip Away at Your Bill

Establishing Your Company’s Risk Appetite

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) recently published new guidance on how companies can promote “risk appetite” as part of decision-making. It’s especially relevant in today’s uncertain marketplace. Digesting the new guidance The COSO guidance, [...]

By |2020-06-26T12:52:49-04:00June 26th, 2020|Categories: Audit, Blog, COVID-19|Tags: , , |Comments Off on Establishing Your Company’s Risk Appetite

IRS Notice 1444 and the Tax Implications of CARES Act Payments

Dear Clients, Over the next few weeks, you may receive a notice from the IRS after receiving your economic impact payments. Notice 1444 is the form that shows the amount of the recipient’s Economic Impact Payment (EIP) and will [...]

By |2020-06-25T14:13:32-04:00June 25th, 2020|Categories: Blog, COVID-19, Tax|Tags: , , |Comments Off on IRS Notice 1444 and the Tax Implications of CARES Act Payments

Launching a Business? How to Treat Start-Up Expenses on Your Tax Return

While the COVID-19 crisis has devastated many existing businesses, the pandemic has also created opportunities for entrepreneurs to launch new businesses. For example, some businesses are being launched online to provide products and services to people staying at home. [...]

By |2020-06-22T17:23:43-04:00June 22nd, 2020|Categories: Blog, COVID-19, Tax|Tags: , , |Comments Off on Launching a Business? How to Treat Start-Up Expenses on Your Tax Return

Asset Impairment is Expected to Hit 2020 Financial Statements

Some companies are expected to report impairment losses in fiscal year 2020 because of the COVID-19 crisis. Depending on the nature of your operations and assets, the pandemic could be considered a “triggering event” that warrants interim impairment testing. [...]

By |2020-06-19T13:42:33-04:00June 19th, 2020|Categories: Audit, Blog, COVID-19, GAAP|Tags: , , , , |Comments Off on Asset Impairment is Expected to Hit 2020 Financial Statements

Good Records Are The Key To Tax Deductions And Trouble-Free IRS Audits

If you operate a small business, or you’re starting a new one, you probably know you need to keep records of your income and expenses. In particular, you should carefully record your expenses in order to claim the full [...]

By |2020-06-15T13:00:32-04:00June 15th, 2020|Categories: Blog, Small Business Services, Tax|Tags: , , , |Comments Off on Good Records Are The Key To Tax Deductions And Trouble-Free IRS Audits

From QuickBooks to Cloud Accounting With Sage Intacct: Enabling Your Finance Teams from Anywhere

 Your accountants may be working from home, but what about your accounting processes? In many cases, working from home means “making do” with a lesser version of the office that lacks the same tools, data, and easy collaborative opportunities. Accountants [...]

By |2020-06-12T15:48:18-04:00June 15th, 2020|Categories: Blog, Cloud Technology, Consulting, Kevin Shives, Sage Intacct, Technology|Tags: , , |Comments Off on From QuickBooks to Cloud Accounting With Sage Intacct: Enabling Your Finance Teams from Anywhere

Is It Time To Outsource Finance and Accounting?

Outsourcing may appeal to organizations that are currently struggling with mounting overhead costs during the COVID-19 crisis. By outsourcing, you convert certain fixed overhead costs associated with compensating and supporting employees into variable costs that can be scaled back [...]

By |2020-06-12T15:51:15-04:00June 12th, 2020|Categories: Audit, Blog, Outsourced Accounting|Tags: |Comments Off on Is It Time To Outsource Finance and Accounting?

Rioting Damage At Your Business? You May Be Able To Claim Casualty Loss Deductions

The recent riots around the country have resulted in many storefronts, office buildings and business properties being destroyed. In the case of stores or other businesses with inventory, some of these businesses lost products after looters ransacked their property. [...]

By |2020-06-09T18:27:32-04:00June 8th, 2020|Categories: Blog, Small Business Services, Tax|Tags: , , , |Comments Off on Rioting Damage At Your Business? You May Be Able To Claim Casualty Loss Deductions

Congress Loosens PPP Loan Restrictions

Congress recently passed legislation to loosen some of the restrictions that came with the popular Payroll Protection Program; the president signed it into law on June 5. The new law runs only about 1,000 words, but contains several major [...]

By |2020-06-09T18:27:36-04:00June 5th, 2020|Categories: Blog, COVID-19|Comments Off on Congress Loosens PPP Loan Restrictions