Construction companies may be on the brink of a digital revolution, thanks in part to the coronavirus pandemic. The construction industry has been slower than other industries to adopt digital...
The Financial Accounting Standards Board (FASB) has released Accounting Standard Update (ASU) 2020-07, Not-for-Profit Reporting of Gifts-in-Kind. The purpose of the ASU is to improve GAAP...
Managing a business during the global pandemic without an effective cash flow forecast is very much like driving at night blindfolded. Likely, you’ll generally be moving in the right direction,...
The dealership management system (DMS) is the backbone of an auto dealership’s operations. This software controls and reports on a dealer’s functions and departments, including accounting, sales,...
Tax identity theft is a serious issue for the IRS as fraudsters continue to find new ways to steal taxpayers’ Social Security numbers and other personal information to file false tax returns....
Along with other changes, the recent $2.3 trillion Consolidated Appropriations Act (Act) made significant changes to the Employee Retention Credit (ERC) created earlier in 2020 by the CARES Act....
On December 21, Congress voted to approve a second stimulus package for businesses and individuals adversely affected by the COVID-19 pandemic. President Trump subsequently signed the bill into...
Just 12 short months ago most of us were living in a world focused on the hope of a new decade; for some a “fresh start” with “2020 Vision”. Those were the days. Common headlines polarized...
One of the tried and true processes at the end of each year is generally preparing the coming year’s budget. Ah yes, a time to bargain for new office equipment and bribe your corporate controller...
In a year of uncertainty, with the election, COVID-19, civil unrest, and economic swings, the future of tax legislation can be added to the list. From a yearend tax planning point-of-view, we...