Archive for Alerts & Advisories Category

Emerging Tax Alert- Year-end tax planning strategies must take business turbulence into account

Election years often lead to uncertainty for businesses, but 2020 surely takes the cake when it comes to unpredictability. Amid the chaos of the COVID-19 pandemic, the resulting economic downturn and civil unrest, businesses are

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Posted In: Alerts & Advisories

Tax Alert- Buying and selling mutual fund shares: Avoid these tax pitfalls

If you invest in mutual funds, be aware of some potential pitfalls involved in buying and selling shares. Surprise sales You may already have made taxable “sales” of part of your mutual fund investment without

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Avoiding conflicts of interest with auditors

A conflict of interest could impair your auditor’s objectivity and integrity and potentially compromise you company’s financial statements. That’s why it’s important to identify and manage potential conflicts of interest. What is a conflict of

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Gifts in kind: New reporting requirements for nonprofits

On September 17, the Financial Accounting Standards Board (FASB) issued an accounting rule that will provide more detailed information about noncash contributions charities and other not-for-profit organizations receive known as “gifts in kind.” Here are

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Posted In: Alerts & Advisories

Accounting & Audit Alert- Auditing revenue

Traditionally, audit procedures for private companies tend to focus on the balance sheet. That is, auditors evaluate whether the book values of the company’s assets are overstated and its liabilities are understated. However, the income

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Posted In: Alerts & Advisories

Accounting & Audit Alert – How to report COVID-19-related debt restructuring

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 complex

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Posted In: Alerts & Advisories

Tax Alert- Tax implications of working from home

COVID-19 has changed our lives in many ways, and some of the changes have tax implications. Here is basic information about one common situation. Working from home. Many employees have been told not to come

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Posted In: Alerts & Advisories

Accounting & Audit Alert- 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 need

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Posted In: Alerts & Advisories

Take a Virtual Office Tour

Check out our office!  If you’re a current employee, isn’t it nice to take a “walk” around if you haven’t physically been to the office in a few months?  If you’re thinking about joining our

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Posted In: Alerts & Advisories, Videos

Emerging Tax Alert- The IRS issues guidance on the executive action deferring payroll taxes

On August 28, the IRS issued guidance that provides some explanation of how employers can defer withholding and remitting an employee’s share of Social Security tax when wages are below a certain amount. The guidance

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Posted In: Alerts & Advisories