Archive for Alerts & Advisories Category

Accounting & Audit Alert- Accounting for property, plant and equipment assets

Businesses and not-for-profit entities capitalize machines, furniture, buildings, and other property, plant and equipment (PPE) assets on their balance sheets. Here’s a refresher on some common questions about how to properly report these long-lived assets

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Emerging Tax Alert- 2021 tax calendar

To help you make sure you don’t miss any important 2021 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us know

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Accounting & Audit Alert- Assessing and mitigating key person risks

Auditing standards require a year-end risk assessment. One potential source of risk may be a small business’s reliance on the owner and other critical members of its management team. If a so-called “key person” unexpectedly

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TaxCaddy: 5 Ways it simplifies tax time

For years, you’ve trusted us to provide tax and accounting services and expert guidance. Like many other businesses, we are restructuring our daily operations to allow the firm’s staff to work remotely and account for

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Accounting & Audit Alert- Forecasting for 2021

Planning for what lies ahead is an important part of running a healthy business. Forecasting your company’s financial statements can help you manage inventory and other working capital accounts, offer competitive prices, identify impending cash

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Accounting & Audit Alert- 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

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Emerging Tax Alert- How can your business benefit from the Consolidated Appropriations Act?

The Consolidated Appropriations Act of 2021 (CAA) was signed into law in late December. The sprawling legislation contains billions of dollars in additional stimulus funding in response to the COVID-19 pandemic, as well as numerous

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Emerging Tax Alert- The Consolidated Appropriations Act brings COVID-19 relief (and more) to individuals

President Trump signed into law billions of dollars in long-awaited COVID-19 and economic relief. The relief package is part of the nearly 5,600-page Consolidated Appropriations Act (CAA), which also contains numerous other tax, payroll and

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Accounting & Audit Alert- Red flags of 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

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Emerging Tax Alert – Congress passes COVID-19 aid package

After months of negotiations in Washington, an agreement has been struck on a new aid package to address the ongoing fallout from the COVID-19 pandemic. The legislation has been passed by both the U.S. House

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