Cash Flow: The Secret Sauce to Staying in Business, During and After COVID

Whether your business is in survival mode or experiencing an uptick, the way you manage (or don't manage) cash flow will determine your business's future. Cash management has always been critical, but in this economy, it's essential. If you've been in the dark about your cash flow, can't pull your numbers quickly, or want some tips to improve your cash flow and prepare for additional market disruptions, join our upcoming webinar.

By |2020-06-08T12:49:22-04:00July 30th, 2020|Categories: |Tags: , , , , |Comments Off on Cash Flow: The Secret Sauce to Staying in Business, During and After COVID

Costing Matters: Hold on to Those Margins To Survive COVID

The rising costs of labor, raw materials, coupled with new overhead expenses associated with spacing and retrofitting work stations, temperature checks, and increased sanitation, all impact your bottom line. Manufacturers need to accurately monitor the costs of production, so they can consider adjusting pricing, find new suppliers, or renegotiate fixed contracts to stay profitable.

By |2020-06-08T12:48:57-04:00July 14th, 2020|Categories: |Tags: , , , , , , |Comments Off on Costing Matters: Hold on to Those Margins To Survive COVID

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

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

Business Meal Deductions: The Current Rules Amid Proposed Changes

Restaurants and entertainment venues have been hard hit by the novel coronavirus (COVID-19) pandemic. One of the tax breaks that President Trump has proposed to help them is an increase in the amount that can be deducted for business [...]

By |2020-06-09T18:27:46-04:00June 1st, 2020|Categories: Blog, COVID-19, Tax|Tags: , , , |Comments Off on Business Meal Deductions: The Current Rules Amid Proposed Changes

Revenue Recognition and Leases: FASB Gives Certain Entities More Time

Private companies and most nonprofits were supposed to implement updated revenue recognition guidance in fiscal year 2019 and updated lease guidance in fiscal year 2021. In the midst of the novel coronavirus (COVID-19) crisis, the Financial Accounting Standards Board [...]

By |2020-06-09T18:28:05-04:00May 29th, 2020|Categories: Blog, COVID-19, Tax|Tags: , , |Comments Off on Revenue Recognition and Leases: FASB Gives Certain Entities More Time

Understanding & Planning for PPP Forgiveness

Join our upcoming webinar to learn about the PPP forgiveness timeline, eligible expenditures, and get guidance maintaining documentation. Our presenters will also cover recent updates, and provide tips on how to integrate PPP into your business planning. This webinar will feature a live Q&A session – so bring your questions!

By |2020-06-01T13:07:14-04:00May 29th, 2020|Categories: |Tags: , , , |Comments Off on Understanding & Planning for PPP Forgiveness

IRS Releases 2021 Amounts For Health Savings Accounts

The IRS recently released the 2021 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA basics An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account beneficiary.” An HSA [...]

By |2020-05-26T12:23:11-04:00May 26th, 2020|Categories: Blog, COVID-19|Tags: , , |Comments Off on IRS Releases 2021 Amounts For Health Savings Accounts

Overcoming The Challenges Of Remote Auditing During The COVID-19 Crisis

Many people are currently working from home to help prevent the spread of the novel coronavirus (COVID-19). Your external auditors are no exception. Fortunately, in recent years, most audit firms have been investing in technology and training to facilitate [...]

By |2020-05-22T13:27:17-04:00May 22nd, 2020|Categories: Audit, Blog, COVID-19|Tags: , , |Comments Off on Overcoming The Challenges Of Remote Auditing During The COVID-19 Crisis