Welcome to Sensiba San Filippo’s Insights Blog
Providing education and industry insights to stay steps ahead of your competition.
Business Website Costs: Guidance For Taxes
The business use of websites is widespread. But surprisingly, the IRS hasn’t yet issued formal guidance on when Internet website costs can be deducted. Fortunately, established rules that generally apply to the deductibility of [...]
Reporting COVID-19-Related Debt Restructurings
Today, many banks are working with struggling borrowers on loan modifications. Recent guidance from the Financial Accounting Standards Board (FASB) confirms that short-term modifications due to the COVID-19 pandemic won’t be subject to the [...]
Wherefour Optimizes Inventory and Co-Packing Success via Linked Accounts
Effective inventory management and communication between companies are critical factors in successful co-packing collaborations – which is why we are excited about Wherefour’s latest release that adds a new level of visibility to help [...]
2020 Q4 Tax Calendar: Key Deadlines For Businesses And Other Employers
Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2020. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that [...]
Leveraging Sage Intacct and Salesforce for a Complete Nonprofit Solution
Americans donated over $410 billion to nonprofits in 2017, up 5.2% from the previous year. Yet research also shows that between the years 2000 and 2016, the percentage of the population that donates to [...]
On-Time Financial Reporting Is Key In Times Of Crisis
Many companies are struggling as a result of shutdowns and restructurings during the COVID-19 crisis. To add insult to injury, some have also fallen victim to arson, looting or natural disasters in 2020. Lenders [...]
Employers Have Questions And Concerns About Deferring Employees’ Social Security Taxes
The IRS has provided guidance to employers regarding the recent presidential action to allow employers to defer the withholding, deposit and payment of certain payroll tax obligations. The three-page guidance in Notice 2020-65 was [...]
Reporting Discontinued Operations Today
Marketplace changes during the COVID-19 crisis have caused many companies to make major strategic shifts in their operations — and some changes are expected to be permanent. In certain cases, these pivot strategies may [...]
5 Key Points About Bonus Depreciation
You’re probably aware of the 100% bonus depreciation tax break that’s available for a wide range of qualifying property. Here are five important points to be aware of when it comes to this powerful [...]
Levels Of Assurance: Choosing The Right Option For Your Business Today
The COVID-19 crisis is causing private companies to re-evaluate the type of financial statements they should generate for 2020. Some are considering downgrading to a lower level of assurance to reduce financial reporting costs [...]
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