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Many companies pay interest on variable rate loans based on LIBOR. How will this phase-out impact banking and the investment community?
Performing a policy and procedure evaluation is one way to identify such risk. The comprehensive evaluation should address these areas.
Watch on-demand webinars covering various accounting and finance topics. The on-demand webinars are available 24/7 for your convenience.
Applying data analytics to combat fraud, waste and abuse can help protect your assets and better manage your financial risk.
While preparing for an audit can seem like a daunting and overwhelming task, these management tips can help you plan ahead and execute successfully.
How to identify new contract liabilities and how the standard will affect the processes and controls of revenue recognition.
Being an effective internal auditor in today’s fast-paced, technology savvy environment can be challenging and overwhelming.
Understand the risks and benefits of DIY business valuation compared to business valuation from a highly trained and accredited professional.
A high-level overview of major changes coming to FASB’s lease accounting standard.
Here’s a practical reference tool featuring key terms and performance indicators for your balance sheet.
Many business owners excel in the day-to-day operations of working with customers and delivering services or products. But they may not grasp the insight their financial statements can provide.
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In the construction industry, an important gauge of your company’s performance can be comparing it to that of the best of your competition.
If you’re a contractor, you have more choices of tax methods to recognize income than most businesses. However, it carries many complexities.
Don’t overlook certain documentation, expenses and planning opportunities applicable to the construction industry.
New opportunity to save tax dollars, win more government contracts and attract top talent.
Newly eligible construction businesses should determine whether these would be advantageous and, if so, consider switching methods.
The need to build a strong talent pipeline grows as construction companies continue to see a lack of skilled labor to fill jobs in their organizations.
The construction industry can make good economic times even better by taking advantage of the Tax Cuts and Jobs Act.
As construction companies struggle to find and retain qualified workers, they are often overlooking an essential tool for employers: communication.
With the non-wage business income exemption repealed, it’s time for construction companies to reexamine their tax strategy.
Family businesses are unique and complex situations. The three-circle framework can help families manage their business and their family.
Family business owners can often feel alone. In this episode of The Family Business Podcast, Daniel White explores the value of belonging to a membership organization or a peer group specifically tailored to the issues and challenges of being in business with your family.
AGH's Daniel White talks about the dynamics around guiding change in family businesses in the midst of the additional challenges from COVID-19.
There’s a lot that goes into developing your family business’ next generation of leadership. Don’t wait to start.
Your organization’s key positions need successors in place. Here are some factors to keep in mind when finding and preparing them.
As family businesses grow, they’ll need to overcome new hurdles surrounding management and succession planning.
Strike while the iron is cool. The right preparation can prevent destructive outcomes and create positive resolutions, strengthening both the family and the organization.
Senate Bill 15 allows privilege tax deductions for financial institutions on interest from agricultural real estate and single-family residence loans.
This summer is a good time to revisit the upcoming CECL standard change. See survey results for where other community banks are in their CECL process.
Banks are facing an unprecedented amount of disruption to customers, employees and the internal operations within their institutions.
Staying connected with customers and prospects is essential, especially in times of uncertainty. Get creative as we navigate the new business environment.
The decision to bank marijuana-related businesses creates additional steps for banks regarding their Bank Secrecy Act (BSA) practices.
While banks are seeing tremendous growth, they also continue to see a lack of talent to fill the jobs that will be created as a result of this potential growth.
Newly eligible businesses should determine whether this method change would be advantageous and, if so, consider switching methods.
The Tax Cuts and Jobs Act contains a number of provisions all businesses should be aware of. Here are some significant sections that affect the banking industry.
Expect CECL's effect to be felt when the standard becomes effective in 2020 for publicly traded banks and 2021 for all other banks.
Financial institutions must prepare now for big changes in how they calculate loan and lease losses. CECL becomes effective in 2020 for SEC filers and 2021 for all others.
What do banks need to know about managing cybersecurity risk to help protect themselves against cyber attacks? Brian Johnson puts the threats into context for banking leaders.
The Federal Financial Institutions Examination Council (FFIEC) created a risk assessment tool to help financial institutions manage their cybersecurity risks.
Ransomware is a real threat to the government sector. Learn more about common entry methods, ways to minimize the risks, and how ransomware has directly affected the public sector.
As distance learning continues for educational institutions, so do cyber-attacks. The attacks are expected to continue through the school year.
Watch on-demand webinars covering various government topics. The on-demand webinars are available 24/7 for your convenience.
Title VI outlines appropriate use of funds for providing coronavirus aid, relief and economic security during the COVID-19 pandemic.
Memorandum provides short term relief for administrative, financial management and audit requirements for federal awards.
It is the employer’s responsibility to actively combat the possibility of an attack and to minimize the effects should one occur.
Governmental entities that enter into contracts with Davis-Bacon requirements must include the required prevailing wage rate clauses in the contracts or subcontracts.
The micro-purchases threshold has been raised. What does this mean for you?
This infographic covers four of the major changes the Governmental Accounting Standards Board has made from statement 45 to 75.
Who should be involved in long-term financial planning in what roles during mobilization, analysis, decisions and implementation?
Long-term financial planning is a step-by-step process to help government leaders (both elected and staff) look ahead.
Before issuing debt for major capital projects, it’s often helpful to rely on a checklist of factors to consider for the best results in a bond issuance.
Having well-thought-out fiscal policies in place can help governmental entities mitigate risk, increase fiscal soundness, and serve as good stewards of taxpayer funds.
Review what steps employers can begin addressing now to prepare for the forthcoming guidance from President Biden’s COVID-19 Action Plan.
An HR audit can help you understand whether your HR practices are benefitting or hampering your organization. Our guide covers everything you need to know about HR audits: what they are, who should conduct one, and how to perform one.
Watch on-demand webinars covering various compensation and benefits topics. The on-demand webinars are available 24/7 for your convenience.
Using assessments as part of your hiring process can increase the likelihood of a successful hire from a coin flip to as much as 70% for some positions.
One of the biggest drivers of employee engagement and retention is investing in the employee’s ongoing learning and development.
Have 15 or more employees? You are subject to Equal Employment Opportunity laws. Learn more about the agency that enforces those laws and how to manage your risk.
Employee policies help employees understand the expectations at the workplace. They help managers manage better. They keep the organization running smoothly.
Employers should plan now for what requirements or recommendations they may have of employees for getting the COVID-19 vaccine.
An HR audit project checklist can help you identify the resources needed, and the time required, to see if you can get buy-in from stakeholders.
Significant enhancements to and expansion of the employee retention credit were included in The Consolidated Appropriations Act, 2021.
Performing regular HR audits help improve operations and performance through examining processes, policies and documentation.
There will be little change for contributions and benefit limits in the new year.
COVID-19 cases continue to rise, and the holidays are right around the corner. Review the following resources and consider communicating information to your employees to help mitigate the spread of the virus.
Offering a robust voluntary benefits program enhances and fills gaps for both employers and employees. Take time to review your current plans.
The IRS brought back Form 1099-NEC. Here’s what you need to know about the form and issues to consider related to it.
The guidance is brief, and employers will likely still have questions about whether, and how, to implement the deferral. The President’s action only defers Social Security taxes; it doesn’t forgive them.
More than a decade after the most recent pay equity law was signed into law, we still see compensation inequity in our workplaces. Here are some tips to stop it.
IRS guidance has provided relief to individual taxpayers affected by COVID-19 who take distributions or loans from retirement plans and offers guidance to employers regarding the administration of loan relief.
The IRS has revised Form 941 in response to payroll reporting changes resulting from COVID-19 stimulus.
Sexual orientation and transgender status are protected employment categories.
The Department of Labor (DOL) published the final rules for electronic disclosure of required documents pertaining to retirement plans. Here is a list of the top questions and answers on what it may mean for you and your plan.
The new form is dated 10/21/19 and expires 10/31/22. U.S. Citizenship and Immigration Services (USCIS) publishes a paper I-9 Form and an electronic, fillable I-9 Form.
IRS has issued guidance providing relief from failure to make employment tax deposits.
DOL regulations address key provisions related to paid sick leave and family medical leave that were effective April 1.
The Act provides new benefits to retirement plan participants that meet COVID-19 eligibility requirements.
Department of Labor provides additional guidance for employers related to requirements of Families First Coronavirus Response Act.
The Department of Labor issues limited guidance and additional resources following recent enactment of the Families First Coronavirus Response Act.
Act includes important provisions designed to aid the economy, support individual financial stability and curb the spread of COVID-19.
Beginning in 2018, the TCJA made significant changes to tax rates, deductions, tax credits and personal exemptions, which changed to zero. The IRS released new withholding tables for 2018 and 2019, but Form W-4 remained largely unchanged until now.
The IRS recently announced the new 2020 amounts for 401(k) deferral limits, IRA contribution limits, Social Security wage base and more.
Changes to employee benefit plan audits begin to take effect for audits of these plans for the year ended December 31, 2020.
The US Department of Labor has published changes to the Fair Labor Standards Act that will affect which employees are eligible for overtime pay.
After paycheck checkup, the payroll withholding employees have in place may no longer fit their revised tax situation.
There are several aspects of a 401(k) plan that employers should consider when choosing what is best for their employees and business.
IRS recently came out with limits on Social Security wage base, funding retirement plans, health savings account contributions, and more.
There are rising risks and complexities for plan administration as the year ends. Here are some key areas plan administrators need to focus on.
The earlier stay on additional overtime eligibility has become a permanent block. Also, pay reporting on EEO-1 is suspended.
USCIS issued a slightly revised Form I-9 which employers must implement by Sept. 18 or face potential penalties.
HR pros affect the bottom line through your key assets – your talent.
Awareness of email scams and social engineering is your best bet to protect your company from new fraud schemes.
Like most aspects of business, the handling of background checks is subject to government rules.
Keeping your employees' information safe starts with accepting that your company's IT security is only as strong as its weakest employee's understanding of information security.
The following steps should help you ensure a safe, healthy and productive work environment.
The Department of Labor appears to be sending plan sponsors two parallel messages based on its hiring trends and a 2015 DOL study of employee benefit plan audit quality.
Employers must continue to put solid efforts into looking for ways to recruit and retain their current workforce as well as plan for future employment needs.
A recent court case demonstrates that using intranets/internal websites or common-area postings (such as a break room posting) isn't enough to ensure all employees receive SPD.
DOL is cracking down on employers who are late depositing employee earmarked funds withheld from their paychecks into their retirement plan.
All too often, businesses get in trouble with the IRS because they do not understand the intricacy of payroll tax laws.
Even the smallest mistakes must be corrected or a plan is subject to IRS disqualification, leaving plan sponsors and employees potentially subject to increased taxes on funds in the plan.
Employees need time to recharge their batteries and recuperate from sickness or stress. To that end, many employers give their employees paid leave as part of their benefits package.
5 questions plan sponsors should ask about their retirement plan.
An employee handbook serves as the bible of a company, providing the answers to some of the most basic employment questions.
Every employee's personnel file should contain his or her complete employment history. This should include the job application, resume and employment agreements and exit interview.
HR audits examine employee processes and procedures for compliance with federal employment laws, alignment with the organization’s business strategy, and HR best practices.
The results of a human resources audit help organizations reduce risk, increase productivity, enhance profits, and become an employer of choice.
Whether an employee leaves your company amicably on his or her own terms or after being fired, there are a number of steps businesses should take to ensure their security.
Payroll tax payments are federally mandated and you must withhold the tax amount from employees' paychecks. Despite your willingness to adhere to the law, mistakes can still happen.
Employers can optimize their 401(k) plans so employees contribute to their plans. Several key trends may affect a plan's ability to attract an employee's hard-earned savings.
Terminations have an effect on company morale, but more importantly, if you're not careful you can open yourself up to legal action in the form of a wrongful termination lawsuit.
As is the case with most laws, overtime laws have some exceptions. Not all employees are entitled to overtime. And not all employers are required to pay it.
Since the IRS expects you to manage and pay your employees' payroll taxes, it is your responsibility to make sure these are done.
If you haven’t done a compensation review in the last couple of years, it’s time. This infographic captures the key points you need to know for conducting a compensation review.
I-9 compliance is tough for many businesses and it's easy for companies to be levied large fines if regulations are not followed appropriately.
To help strengthen your HR skills, and in turn your employee recruiting skills, we have listed four tips for anyone responsible hiring and retaining key personnel.
Back to school marks the start of a new academic year. It offers a time to pause, reflect, and plan for students. Shouldn’t your organization do the same?
The CFO role continues to expand. With their unique financial viewpoint, the CFO is influencing strategy and identifying opportunities while managing risk.
Watch on-demand webinars covering various organizational development topics. The on-demand webinars are available 24/7 for your convenience.
Do your employees feel appreciated? Here are some basic guidelines to become more effective at providing employee appreciation and recognition to employees.
Times seem uncertain but don’t let that stop you from continuing forward in your organizations strategic planning process.
Daniel White discusses working on the business rather than working in the business. He has some great advice for leaders and how to develop people within your organization.
To survive in the current and future marketplace, businesses must continue to focus on improving both technical and soft skills. However, it’s important to understand that each skillset requires a different approach.
By taking the time to increase your self-awareness, you will be on your way to developing the soft skills that will help you become a more effective, compelling and valued professional.
While there are many helpful tips out there for managing the next generation in the workforce, many of them boil down to one-character trait: being authentic.
Now that many organizations have dealt with the immediate needs of responding to the pandemic, it is time for leaders to think about the future.
Despite the importance of soft skills, many still struggle with them, and everyone has room to grow.
As the new decade gets underway, research shows resistance to change, succession challenges and cyberthreats are among the top concerns.
For many leaders, strategic planning is not a meaningful activity. They have seen plans fail and don’t see the point in planning.
As our environment continues to change, the CFO’s role in managing risk has become more than just the numbers.
Personal development is more than formalized education. Learn how you can max out your potential with these tips.
Increase employees’ professional growth by providing both positive and negative feedback effectively.
Three questions to help gauge your organization’s strategic alignment.
Use these four tips to get the best results when managing remote employees.
How learning to say no can open up time and resources for your top priorities as a leader.
Use these steps to move past workplace differences and start connecting with co-workers.
Don’t let these myths keep you from assembling a board of directors.
One of your organization’s most effective recruitment tools comes from what may seem like an unlikely source.
Whether it’s thinking too big, too fuzzily, or too rigidly, strategic plans can fail for a variety of reasons – here are 6 to be wary of.
A written warning can be useful in getting an employee to realize the severity of his or her behavior. It also can provide legal protection from a wrongful termination lawsuit.
This article sheds light on why strategic plans fail and what organizations can do to get back on track.
Organizations must recognize why they exist before they can truly succeed in how they carry out their mission.
Unlike traditional employee recognition programs, positive reinforcement helps develop employees who not only do their jobs well but also look for opportunities to consistently go above and beyond.
Too often, performance management can become a paperwork exercise completed more to meet deadlines than to yield results.
What is the right way to conduct effective meetings between managers and direct reports? Use this checklist to get the most from one-on-one meetings.
The requirements for a top CFO have evolved quickly from a transactional, data-reporting role to one now responsible for strategic management of the organization’s assets.
The term “soft skills” has more to do with how employees act than what they know – skills such as collaboration, problem solving, conflict resolution, and communication.
Developing a board that truly adds value is not an easy task; it takes keen self-examination and planning on the part of senior leadership.
Many people suffer from job burnout, particularly in today's challenging economic conditions. But burnout can often be alleviated.
We assembled the following six steps to help you with a difficult discussion (although we suggest getting an HR professional's advice when dealing with critical HR issues).
It's all too common to stroll by an employee's desk and catch him/her surfing the Web -- obviously, for personal use not business-related research.
Engaged employees who are committed, putting forth extra effort and who feel connected to the organization don’t get that way because of a “program.” See what you can do to keep them engaged.
No matter what size company you work for, you have probably seen a disconnect between management and team members.
The key to improving your performance is not to be overwhelmed by setbacks or problems but to control problems and improve how your work gets done.
Everyone experiences problems at work, but how we approach these problems makes all the difference in how well we resolve them in an efficient manner.
The job of owners, directors or managers is to get things done through their employees. And to make this happen, leaders need to be able to motivate their staff.
We have put together a number of tips to help you or someone you know become a better leader in the coming months.
Word-of-mouth advertising is one of the cheapest and most effective types of advertising. In order to make this happen, you need to get out of your office and network.
To get the most out of your employee reviews, we have listed crucial steps that need to be taken to ensure an effective employee performance review.
Managers should not underestimate the power of managing expectations. In fact, the reality of managing expectations revolves around three simple principles.
Research has proven that the more uncomfortable a worker feels, the less productive he or she is for the company.
Networking through community service is a win-win situation. Your company will benefit from the exposure and you will feel good knowing that you are helping your community.
For manufacturers, the Trade Adjustment Assistance (TAA) program can help provide additional financial support in times of uncertainty.
The volume of M&A activity is one of the indicators available to help identify trends within the manufacturing industry.
Businesses that acquire, construct or substantially improve a building - or did so in previous years can utilize a cost segregation study to accelerate depreciation deductions.
Newly eligible manufacturing businesses should determine whether these would be advantageous and, if so, consider switching methods.
While it is necessary to bolster cyber defenses, manufacturers should not lose sight of other vulnerabilities.
The need to build a strong talent pipeline grows as manufacturing organizations continue to see a lack of skilled labor to fill jobs in their organizations.
Good economic times can be made even better by taking advantage of the Tax Cuts and Jobs Act.
Kansas manufacturers can earn significant tax breaks through the High Performance Incentive Program.
For many companies with export sales, setting up an IC-DISC, or Interest-Charge Domestic International Sales Corporation, can deliver significant tax savings.
You have the option to use plan assets to pay some plan expenses, as long as you follow the Department of Labor and IRS rules.
The Coronavirus Aid, Relief and Economic Security (CARES) Act includes provisions that may apply to your retirement plan. Here are some important highlights to know first.
Watch on-demand webinars covering various retirement plan topics. The on-demand webinars are available 24/7 for your convenience.
The goal of our nation’s retirement system is to create more opportunities for American workers to save and to make it easier for employers like you to start and maintain benefit plans.
As time passes, many things in your world may change and any of them could be a good reason to meet with us to make sure your plan aligns with your evolving needs and goals.
Here are a few quick things to know about what fidelity bonds do and do not cover, who needs protection, how coverage requirements work and options to pay for it.
Every retirement plan is required to have a formal written document that spells out how it operates.
There are several matching formulas or non-elective contributions an employer can make to satisfy a safe harbor requirement.
Learn more about plan design options that may create a better fit for you, and your employees.
In retirement plan terms, that can be a good way to think about the difference between a bundled solution from a single provider and an unbundled solution delivered by multiple specialists.
There are two groups of plans that the Department of Labor requires to have financial statement audits by an independent qualified public accountant, or CPA.
We can suggest several retirement plan designs and individual plan features that can help you reach your goals. Depending on your situation, here's a quick snapshot of some of the most popular.
When an employee leaves before being fully vested, the non-vested portion of their account is forfeited back to the plan. Generally, your plan has one of three options about how to use forfeited monies.
Today, there's a good bit of debate about how participant loans affect long-term retirement outcomes.
What you may not recognize is that you may likely also wear another important fiduciary hat based on your control and authority over the administration of the plan.
Plan sponsors like you are, by definition, a fiduciary of your plan because you exercise control over, and act on behalf of, your plan.
The IRS put in place rules to assure your plan benefits rank and file employees and not just company owners and highly compensated employees.
Cash Balance plans can help high-income earners build substantial retirement savings in a relatively short amount of time, but they're not for everyone.
For smaller, more mature companies, a defined benefit plan can be a great vehicle to help you and your employees prepare for retirement.
The retirement plan at work doesn't have a chance to be successful without a helping hand and tools to achieve financial wellness.
Just like the original Roth IRA, the Roth 401(k) account has the specific advantage of growing tax-free, but the 401(k) version doesn't have the associated income limits.
A QDIA is designed to meet the criteria of a specific regulation - ERISA section 404(c) - which provides you with a safe harbor from fiduciary liability for investment decisions made by your employees in their 401(k) accounts.
An important way to help your employees make real progress for themselves is to offer auto-enrollment and auto-escalation features in your 401(k) plan.
Cybersecurity is a complex topic. These three questions can help narrow your focus and provide a sustainable approach to managing your cyber risk.
New guidelines mandate all DOD suppliers earn CMMC certification beginning in 2025. Learn more about the CMMC and action you need to take.
Watch on-demand webinars covering various risk management topics. The on-demand webinars are available 24/7 for your convenience.
An organization that manages its risk can retain most of the upside while mitigating the downside.
COVID-19 has increased the number of unemployed filings and unemployment benefits, resulting in more fraud due to identity theft.
New to business intelligence? Want to start making better business decisions? This extensive primer will help you get started.
Today’s reliance on technology introduces risk. Managing that risk requires effectively integrating sound IT practices into an organization’s overall governance framework.
Identity thieves prey on businesses and organizations of all sizes given the fact that they hold sensitive tax data on their employees
The IRS has taken successful steps to reduce tax-related identity theft, but it cautions taxpayers to stay alert for scams year round.
If something as small as a smart phone has the potential to put your entire business in jeopardy, why do business leaders avoid analyzing and managing their information security risks? These questions can get you started.
An employer could face legal action and be forced to pay financial damages for an employee’s mistake.
Following the Equifax data breach, the Federal Trade Commission recommends consumers consider a freeze with credit reporting agencies.
Avoid becoming a victim of devastating cyber-attacks by learning from these three incidents.
Workers' comp insurance covers most, but not all, on-the-job injuries. However, it does not cover the following...
Use these tips to help stop phishing emails from harming your organization.
Phishing is a top cybersecurity threat for every organization. It can cause problems ranging from inconvenience to catastrophic interruption.
From fraudulent expense reimbursement claims, to claiming overtime for hours not worked, to adding "ghost employees" to the system, there are myriad ways in which fraud can infiltrate your payroll.
There is no one-size-fits-all plan, but here are three steps you and your staff should take to increase your chance of survival.
No checklist can protect an organization from the possibility of fraud, but there are many preventive actions that can reduce a potential fraudster’s opportunities to do harm.
Leadership – including boards, top-level executives, and others – must be constantly aware of and asking questions about their organization's cybersecurity.
Criminals have a variety of methods to steal your private data. The IRS wants you to understand how they operate so you can avoid becoming the victim of a scam artist.
Although small or medium-sized entities likely don’t have the resources for sophisticated fraud-prevention strategies, this eBook outlines ways to mitigate the most important fraud risks.
Payroll and money theft begins with a person(s) giving signs of stealing. There are common signs you should be cognizant of as a business executive.
In an era of constant potential cyber-breaches and attacks, who is ultimately responsible for making sure that sensitive information is secure?
What steps can you take, if they're not already employed, to protect your org. against cash fraud? For the short answer, look at our brief presentation.
With the looming election and low interest rates, now is an opportune time to transition ownership. Act now in considering your 2020 estate planning.
Learn about succession planning, tax concerns and how to get your business ready for a transition that maximizes returns and business value, while managing the tax implications so you don't overpay your obligations to Uncle Sam.
Watch on-demand webinars covering various business transition topics. The on-demand webinars are available 24/7 for your convenience.
When it comes to family business succession planning, there are several important questions you must answer as you start the planning process. Are you ready to step away?
Take a holistic approach to determine whether there are gaps in your existing plans or get your planning started by considering these questions.
Learn about 5 critical areas of a business often overlooked when selling a business.
For a successful transition of your business’ ownership, remember these tips.
This worksheet can help guide you through the process of selecting potential candidates based on the needs of each role and determining what will be necessary to ready them for the transition.
Value drivers for closely held companies either reduce risk or increase growth/return. Learn more about the four critical value drivers that can influence your business' worth.
Some employers offer educational assistance plans as a recruitment and retention tool. Here are the rules to help ensure the fringe benefit is tax free to employees.
As we continue to come out of the pandemic, you may be traveling again for business. There are several rules for deducting your out-of-town business travel expenses within the U.S.
Watch on-demand webinars covering various tax topics. The on-demand webinars are available 24/7 for your convenience.
Employee or independent contractor? That’s the question businesses ask when they bring on certain workers. Here are the basic rules to help keep you out of tax trouble.
If you are trying to keep straight all of the tax proposals the Biden administration has recently announced, here is a handy guide.
An S corporation provides many benefits. Read why it may be the best choice for your situation.
ARPA extends and expands tax credits previously established under COVID-19-related stimulus bills.
Due to COVID and stimulus bills, the IRS has extended the individual tax return deadlines. The Kansas Department of Revenue has followed suit.
You’ve probably heard about the new law that provides direct payments to eligible individuals. But what does the law provide to businesses?
Learn more about key provisions for businesses and individuals in the latest COVID-19-related stimulus bill.
If you are hiring from one or more targeted groups, a recent tax law may have extended a tax credit for you. The WOTC was set to expire on December 31, 2020, but is now extended through December 31, 2025.
Taxpayers should begin formulating a plan to ensure compliance with this new tax-basis method reporting mandate.
With 2020 finally in the rearview mirror, and the next tax season warming up, here’s a list of important 2021 tax deadlines.
The new law provides business meal deductions, PPP loan changes, and more help for businesses.
$900 billion package provides economic relief to millions of Americans and small businesses.
The IRS published guidance providing information on the deductibility of expenses that are considered eligible when applying for PPP loan forgiveness.
Consider these 2021 cost-of-living adjustments as you complete year-end tax planning and plan for next year.
Election years often lead to uncertainty, but 2020 takes the cake. Luckily, several new opportunities arose thanks to federal tax relief legislation.
COVID once again influences business planning. Learn more about how this unusual year has affected year-end tax planning.
The Federal Reserve recently lowered the Main Street Lending Program minimum loan size requirement from $250,000 to $100,000.
The Small Business Administration is seeking information from an estimated 52,000 Paycheck Protection Program loan recipients regarding their proceeds.
With the upcoming presidential election, it may be helpful to better understand each candidate’s position on taxes and their plan.
Depreciating assets involves a complex area of tax law with implications for transactions other than simple asset acquisitions.
Businesses that received PPP loans should be aware of the tax consequences. Here’s a look at the issue.
In the midst of the COVID-19 crisis, some entrepreneurs are kicking off new businesses. Here’s how start-up expenses must be handled on a federal tax return.
Paycheck Protection Program Flexibility Act extends covered period, makes lending terms more favorable and addresses other details that have challenged organizations.
Review the many advantages of Health Savings Accounts (HSAs), along with the HSA inflation-adjusted amounts for the 2021 calendar year.
Loan forgiveness details include a new Alternative Covered Period and documentation requirements.
New FAQ addresses how SBA will review the required good-faith certification of borrowers concerning the necessity of loan requests.
The new FAQ extends the repayment date to May 14 and indicates that additional guidance is also expected from SBA.
This alert summarizes the “good faith” certifications required by the PPP and addresses recent guidance from the Treasury Department and SBA.
IRS Notice indicates that expenses paid to qualify for loan forgiveness under PPP will not be deductible.
In the wake of the coronavirus (COVID-19) crisis, the IRS and U.S. Department of Treasury are providing taxpayers additional relief to ease tax burdens.
Do you own a business but haven’t gotten around to setting up a tax-advantaged retirement plan? Fortunately, it’s not too late to establish one and reduce your 2019 tax bill.
Act creates a new SBA Paycheck Protection Program to provide funding to qualified small businesses and certain non-profit organizations.
Massive stimulus bill approved to address the financial and health care crisis resulting from COVID-19 pandemic.
Executive Order extends tax filing and payment deadlines to July 15, but does not defer estimated tax payments.
This page will track all tax related changes due to the ongoing COVID-19 pandemic. Current as of March 23, 2020.
The proposed regulations provide that the deduction limitation rules generally apply to all food and beverages, whether characterized as meals, snacks or other types of food or beverage items.
Review this summary of when various tax-related forms, payments and other actions are due to make sure you don’t miss any important 2020 deadlines.
Two laws passed just before the end of the year could have substantial repercussions for tax, retirement and even estate planning.
If utilities are consumed in the process of making a product, you may be eligible for a sales tax exemption covering utility costs.
New limitations on itemized deductions effective for tax years beginning in 2018 may impact the tax benefit of charitable donations.
The passage of the TCJA brought changes to the tax landscape. Some tried-and-true strategies have changed and others remain viable.
Taxpayers generally may rely on these rules if they apply them in their entirety and in a consistent manner.
IRS issues guidance that confirms the deduction remains allowable and clarifies when businesses can claim it.
After the TCJA, C Corporation income tax rate was reduced dramatically, tempting business owners to change their business structures.
The aggregation rules can provide a significant benefit to taxpayers with higher taxable income subject to the phase out limitations.
Recently released IRS guidance addresses definitions for what constitutes an eligible business for qualified business income deduction purposes.
You may be eligible to invest capital gain recognized after 1/1/18 into a Qualified Opportunity Fund to access benefits.
In an effort to address confusion over certain changes to deductions on home equity loans, the IRS has issued a statement.
While many individuals and businesses are still working to fully understand how the provisions of the Tax Cuts and Jobs Act affect them, lawmakers are prepping for Tax Reform 2.0.
If you are a remote seller, make sales online or make sales into multiple states, you may be impacted by a recent ruling by the U.S. Supreme Court.
Prior to the TCJA, most taxpayers were unaware of the interest limitation because it only applied to corporations in very limited circumstances.
How not-for-profits can know when income is subject to tax.
The qualified business income deduction is a valuable opportunity for businesses that operate as pass-through entities.
Provisions related to depreciation and expensing of fixed assets have been modified under the Tax Cuts and Jobs Act.
The Tax Cuts and Jobs Act contains valuable opportunities for businesses that operate as pass-through entities.
The Tax Cuts and Jobs act has changed the deductibility of business-related meals and entertainment.
The new tax reform law, commonly called the “Tax Cuts and Jobs Act” (TCJA), is the biggest federal tax law overhaul in 31 years, and it has both good and bad news for taxpayers.
Property donation to a qualified entity delivers tax deduction while allowing continued use of the land via conservation easement.
Action may need to be taken now to amend your partnership agreements to allow for these changes and who makes these decisions.
Reference for employers seeking Work Opportunity Tax Credit for hiring employees in targeted groups – forms and deadlines
File for Work Opportunity Tax Credit within 28 days of hiring eligible employees to potentially earn tax credits.
Taxpayers receiving requests for personal info or tax/fee payment should make sure they’re legitimate before responding.
A common question among partnerships with service partners is whether those service partners may be treated as employees of the partnership.
The IRS issued temporary regulations in May clarifying that partners in a partnership entity cannot be treated as employees of the partnership.
We recommend you educate employees on how to help protect the organization and themselves from scams. These 5 simple steps are a good start.
The IRS has changed the services they can provide through their toll-free number. They are guiding taxpayers to use the Internet to find the answers to most of their tax inquiries.
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