"Answers Beyond the Numbers ....."

Going concern disclosures today -  Is your company still mired in the economic downturn brought on by the pandemic? If so, you might have doubts about its long-term viability. (October 15, 2021) Click here for full article

Emerging Tax and Regulations Alert for October 13 -  The fate of the Build Back Better Act and the Bipartisan Infrastructure Bill remains uncertain as Congress continues negotiations.  Here's a list of the tax provisions that may affect you or your business. (October 13, 2021) Click here for full article

10 financial statement areas to watch for COVID-related effects -  The COVID-19 pandemic is still affecting many organizations.  It's important to share any adverse effects of the pandemic with lenders and investors through your 2021 financial statements. (October 8, 2021) Click here for full article

Is it time to upgrade your accounting system? -  If you're thinking about upgrading your company's accounting system, cost is an important factor.  But it's not the only one.  Here are four other critical issues to consider before you pick what's right for your business.  (September 24, 2021)  Click here for full article

Keep nonprofit board meetings short and sweet -  Your nonprofit's board members are volunteers with busy lives.  So it's important to keep board meetings reasonably short.  Here's how to make them productive wihout running long.  (September 22, 2021)  Click here for full article

EIDL program retooled -  Many small businesses are still feeling the pressure of the pandemic.  If yours needs a loan, check out the SBA's newly enhanced COVID-related EIDL program.  (September 22, 2021)  Click here for full article

Related-party transactions draw attention from auditors -  Does your business interact with your friends, relatives and subsidiaries?  If so, you may need to disclose the details of those transactions and relationships in your financial statements.  Here's why and how auditors pay special attention to related parties.  (September 17, 2021)  Click here for full article

Your nonprofit may have an internal controls gap -  How seriously does your nonprofit take fraud threats?  Some organizations do relatively little to protect assets, leaving control gaps that thieves can slip through.  We explain why this is a dangerous strategy.  (August 25, 2021)  Click here for full article

Private companies: Are you on track for the updated lease standard? -  Coming Soon: Private companies and nonprofits that rent equipment, vehicles and real estate will need to update their accounting systems for major changes to the rules for long-term leases under U.S. GAAP.  (August 20, 2021)  Click here for full article

Is your business underusing its accounting software? -  A company's accounting software can be either a strength or a weakness.  Make sure you're maxing out the functionality and value of yours.  (August 11, 2021)  Click here for full article

IRS issues ERC guidance -  Fresh IRS guidance is available for employers claiming the Employee Retention Credit in the third and fourth quarters of 2021.  (August 10, 2021)  Click here for full article

Have you followed up on the management letter from your audit team? -  Looking for FREE professional advice on how to streamline operations and minimize risks?  The management letter that accompanies your audited financial statement can be a valuable resource.   (August 6, 2021)  Click here for full article

SBA streamlines forgiveness -  The Small Business Association (SBA) has eased the process of forgiving a PPP loan.  Here's how...   (August 3, 2021)  Click here for full article

Financial Statements -  tell a story about financial performance.  Managers and other stakeholders who read them from cover to cover have a clear, holistic understanding of the details.  (July 30, 2021)  Click here for full article

PPP loan forgiveness -  If you received a PPP loan, important forgiveness deadlines are approaching. Are you ready?  (July 21, 2021)  Click here for full article

Here come the child tax credit payments: What you need to know -  If you have children age 17 or under, it's critical to understand the recent changes made to the child tax credit.  (June 29, 2021)  Click here for full article

Is your nonprofit complying with federal procurement requirements? -  If your nonprofit doesn't comply with recently updated federal procurement guidelines, it could risk its funding.  Here's how to ensure your policies and purchases adhere to the rules.  (June 23, 2021)  Click here for full article

Don't assume your profitable company has strong cash flow -  If your business's bottom line is strong, that's good news. But you still need to keep a close eye on cash flow.  Here's why.  (June 16, 2021)  Click here for full article

What nonprofit board members need to know about fiduciary duties -  From financial oversight to risk management to avoiding conflicts of interest, there's a lot that nonprofit board members need to know.  Here's a quick summary. (June 9, 2021) Click here for full article

The long and short of succession planning -  Have you created a viable succession plan for your business?  This daunting task can be made easier by choosing the right perspective. (June 2, 2021) Click here for full article

How to strengthen your internal controls -  A strong internal control system can protect your organization from a variety of risks, including recordkeepting errors and employee theft.  Here are three basic controls that you should take a look at annually. (May 28, 2021) Click here for full article

Using your financial statements to evaluate capital budgeting decisions -  Taking your business to the next level may require a major infusion of capital.  A disciplined approach to evaluating capital investment decisions can help get the biggest bang for your buck. (May 21, 2021) Click here for full article

Biden administration propses far-reaching tax overhaul -  If your're trying to keep straight all of the tax proposals the Biden administrtion has recently announced, here's a handy guide. (May 5, 2021) Click here for full article

New rules for non-profits to report gifts in kind -  (such as land or services) take effect for annual periods starting after June 15.  So if you haven’t already familiarized yourself with the rules, now’s the time.  (May 5, 2021) Click here for full article

Liabilities for unused time off mount as pandemic lingers -  From staycations to road trips, people are using paid time off differently (or not at all) during the pandemic. When employees forego paid leave, employers may see their accruals skyrocket. Plus, there may be hidden costs, too. (April 30, 2021) Click here for full article

President Biden details his tax proposals for individuals -  What could President Biden’s tax proposals mean for you? Here’s a brief rundown of the “American Families Plan.”. (April 29, 2021) Click here for full article

EIDL loans, restaurant grants offer relief to struggling small businesses -  Could your small business or restaurant use a tax-advantaged loan from the Small Business Administration? A recently passed COVID-relief act offers a couple of intriguing options. (March 31, 2021) Click here for full article

PPP application deadline extended -   Eligible businesses affected by the COVID-19 pandemic now have until May 31 to apply for a PPP loan. Here’s the latest on the popular loan program. (March 30, 2021) Click here for full article

4 Ways to improve the effectiveness of your audit committee -   Does your audit committee need a makeover to tackle what lies ahead? Here’s guidance to devise a proactive governance and oversight agenda for 2021. (March 26, 2021) Click here for full article

Make the most of employee retention credit -   Is your business taking full advantage of the Employee Retention Credit? (March 19, 2021) Click here for full article

Extended tax filing deadline provides relief to individual taxpayers and the IRS -   Due to the pandemic and an unprecedented backlog of tax returns waiting to be processed, the IRS has postponed the federal tax filing deadline to May 17, 2021. (March 18, 2021) Click here for full article.

New COVID-19 relief law extends employee retention credit -   The recent signing of the American Rescue Plan Act (ARPA) brings potentially good news for many business owners: the employee retention credit (ERC) has been extended again. The ERC was originally introduced under the CARES Act to provide tax relief to companies that retain employees during the COVID-19 pandemic. It was then extended and enhanced under the Consolidated Appropriations Act. The ARPA further extends the ERC from June 30, 2021, until December 31, 2021. It also extends the higher percentage of 70% of qualified wages, as well as the allowance for up to $10,000 in eligible wages for any calendar quarter. We can explain further and help you determine whether your business qualifies. (March 17, 2021) Click here for full article

New legislation proposes to help "rescue" nonprofits -   No one needs to tell nonprofit organizations how tough the past year has been. According to the John Hopkins Center for Civil Society Studies, 7.7% of not-for-profit workers — nearly one million people — lost their jobs between February 2020 and January 2021. An even higher percentage of arts and education organizations lost jobs last year. Although the nonprofit sector received higher-than-usual donations in 2020, many nonprofits that sought COVID-19-related loans were shut out. (March 17, 2021) Click here for full article.

The American Rescue Plan Act has passed: What's in it for you?  -  The latest COVID-19 related stimulus bill, the American Rescue Plan Act, has now passed.  How can you benefit?. (March 10, 2021) Click here for full article.