COVID-19 Relief Bill Updates & PPP Second Draw Loans

Join us for an upcoming webinar as experts cover key takeaways from the recently passed COVID-19 Relief Bill. SSF's Frank Balestreri and Tim Tikalsky will cover the latest information to help you navigate the Paycheck Protection Program (PPP) and the [...]

By |2021-01-06T18:56:49-05:00January 12th, 2021|Categories: |Tags: , , |Comments Off on COVID-19 Relief Bill Updates & PPP Second Draw Loans

New Law Provides Option to Delay Implementing the Updated CECL Standard

The Consolidated Appropriations Act (CAA), signed into law on December 27, 2020, includes a variety of economic relief measures. One such measure allows certain banks and credit unions to temporarily postpone implementation of the controversial current expected credit loss (CECL) [...]

By |2021-01-11T13:18:41-05:00January 11th, 2021|Categories: Audit, Blog|Tags: , , , , , , |Comments Off on New Law Provides Option to Delay Implementing the Updated CECL Standard

How the New Coronavirus Relief Bill Affects Business Taxes

The federal Consolidated Appropriations Act, 2021 (CAA), signed into law in late December of 2020, modifies and clarifies the tax provisions of last year’s Coronavirus Aid, Relief and Economic Security Act (the CARES Act) and provides other forms of [...]

By |2021-01-08T13:58:58-05:00January 8th, 2021|Categories: Blog, Tax, William R. Norwalk|Tags: , , , , , |Comments Off on How the New Coronavirus Relief Bill Affects Business Taxes

New COVID-19 Relief Bill Doubles Business Meal Deductions and Makes Favorable PPP Loan Changes

The COVID-19 relief bill, signed into law on December 27, 2020, provides a further response from the federal government to the pandemic. It also contains numerous tax breaks for businesses. Here are some highlights of the Consolidated Appropriations Act of [...]

By |2021-01-05T14:30:43-05:00January 5th, 2021|Categories: Blog, Tax|Tags: , , , , , , |Comments Off on New COVID-19 Relief Bill Doubles Business Meal Deductions and Makes Favorable PPP Loan Changes

Red Flags of Deadbeat Debtors

Unfortunately, many businesses have experienced problems with collections during the COVID-19 pandemic. Accounts receivable are a major item on most companies’ balance sheets. Slow-paying — or even nonpaying — customers or clients adversely affect cash flow. Proactive measures can [...]

By |2020-12-30T12:44:18-05:00December 30th, 2020|Categories: Audit, Blog|Tags: , , , |Comments Off on Red Flags of Deadbeat Debtors

How COVID-19 Could Impact Year-End Inventory Counts

Many businesses are closed or are limiting third-party access as COVID-19 surges across the United States. These restrictions could still be in place at year end — a time when external auditors traditionally observe physical inventory counts for calendar-year [...]

By |2020-11-30T12:33:18-05:00November 30th, 2020|Categories: Audit, Blog, COVID-19|Tags: , , , , , |Comments Off on How COVID-19 Could Impact Year-End Inventory Counts

PPP Tax Implications Webinar

As you prepare for year end, join our panel of experts on tax considerations and suggestions regarding the Paycheck Protection Program. About this Event Navigating the Paycheck Protection Program in recent months has seemed akin to Mr. Toads Wild Ride. [...]

By |2020-11-05T17:26:14-05:00November 5th, 2020|Categories: |Tags: , , |Comments Off on PPP Tax Implications Webinar

Tax Responsibilities for Businesses Closing Amid the Pandemic

Unfortunately, the COVID-19 pandemic has forced many businesses to shut down. If your business is closing amid the pandemic, we’re here to assist you in any way we can, including taking care of the various tax obligations that must [...]

By |2020-11-02T14:56:22-05:00November 2nd, 2020|Categories: Blog, Tax|Tags: , , , , |Comments Off on Tax Responsibilities for Businesses Closing Amid the Pandemic

FASB to Delay Long-Term Insurance Standard … Again

On September 30, the Financial Accounting Standards Board (FASB) finalized a rule to delay the effective date of the updated long-term insurance standard for a second time. The deferral will give insurers more time to properly implement the changes [...]

By |2020-11-10T13:48:31-05:00October 9th, 2020|Categories: Audit, Blog|Tags: , , , , , |Comments Off on FASB to Delay Long-Term Insurance Standard … Again

3 Steps To “Stress Test” Your Business

During the COVID-19 crisis, you can’t afford to lose sight of other ongoing risk factors, such as cyberthreats, fraud, emerging competition and natural disasters. A so-called “stress test” can help reveal blind spots that threaten to disrupt your business. [...]

By |2020-10-02T17:05:46-04:00October 2nd, 2020|Categories: Audit, Blog, COVID-19|Tags: , , , , |Comments Off on 3 Steps To “Stress Test” Your Business
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