October 28, 2022
The employee retention credit was designed to help businesses offset pandemic-related losses, but bad advice is costing employers even more.
May 3, 2022
There still may be tax-related issues on your mind after you file your 2021 return. Chief among them: which records can be discarded, how to check on your refund, and when to file amended tax returns.
April 23, 2022
Misunderstanding the complex rules of tracking employee hours can lead to errors, confusion, and wasted hours. Here are a few ways to hold the line for your next construction project.
April 6, 2022
Businesses and nonprofit groups are gradually adjusting to requirements of the new lease accounting standard, such as bringing most leases onto the balance sheet. Since ASC 842 can seem confusing, here’s a quick guide to ease the adjustment period.
August 29, 2021
A new FASB update helps clairfy the presentation and disclosure of contributed nonfinancial assets, including land, buildings, and other items, but it does not change existing recognition and measurement requirements for contributed nonfinancial assets.
June 19, 2020
In response to the COVID-19 pandemic, the implementation deadlines have been deferred for the updated accounting rules for current expected credit losses (CECL), but only for certain entities.
April 24, 2020
The just-passed $484 billion Interim Stimulus Plan, among other things, replenishes Paycheck Protection Program funds.
April 20, 2020
Congress provided $349 billion for PPP funds, but that money ran out late last week amid high levels of demand as the coronavirus has forced businesses to scale back or close altogether.
April 16, 2020
The IRS and the U.S. Department of Treasury have announced new ways for taxpayers to track their stimulus payment resulting from the recent CARES Act.
March 27, 2020
The CARES Act will help provide more than $2 trillion in financial aid and incentives to help businesses and individuals weather the COVID-19 pandemic, and lawmakers say there could be more to come.
February 24, 2020
Social Security contributions and 401(k) limits are among changes this year that will require adjustments by employers.
January 16, 2020
It’s a good time to start new habits – or refresh old ones. Regularly running QuickBooks reports can help you make better business decisions.
December 13, 2019
The AICPA’s Accounting Standards Board voted to finalize a revised definition of “materiality” in its professional standards. Learn what’s changing and why.
December 11, 2019
The FASB recently issued amendments to clarify five issues under its credit loss accounting standard.
December 9, 2019
Some companies fear that implementing the updated leases standard might cause some companies to trip their loan covenants. Here’s how to safeguard against this potential pitfall.
October 21, 2019
The FASB has approved proposals to delay the effective dates of its leases, credit losses, hedging, and long-duration insurance contract standards.
October 15, 2019
The U.S. Department of Labor’s final overtime rule goes into effect on Jan. 1, 2020. Will your company be ready?
October 9, 2019
Private entities and small public companies typically need longer to implement changes to accounting rules. Recent FASB proposals would help by staggering effective dates.
October 7, 2019
For years, businesses have complained that the guidance for reporting income taxes includes many mechanical rules and exceptions. But changes are coming.
September 18, 2019
If the names and Social Security numbers on your employees’ W-2 forms don’t match the government’s records, you may receive a “no-match letter.” Here’s what these letters mean and how to proceed.
September 13, 2019
The AICPA’s Auditing Standards Board unanimously voted to propose revisions to the audit standards on accounting estimates. Here’s a look at how and when estimates are used in financial reporting, and why the AICPA is revising its standards.
September 12, 2019
The FASB is considering changes to the subsequent accounting of goodwill and other acquired intangible assets.
February 2, 2019
New rules were issued that completely change how partnerships will be audited by the IRS. These rules under the consolidated partnership audit regime are effective for partnership tax years that began Jan. 1.
February 1, 2019
If you come home from business trips with a wallet full of receipts, consider entering them quickly and remotely with the QuickBooks Online mobile app.
January 15, 2019
Home healthcare providers will face changes because of new Section 199A guidelines, but those changes are based on a variety of factors, including exactly how the entity relates to “the field of health.”
January 11, 2019
The FASB is in the early stages of developing guidance for performance reporting. The goal is to make it easier for investors and securities analysts to understand how a business works using a company’s financial statements.
January 7, 2019
Most TCJA provisions went into effect in 2018 and apply through 2025 or are permanent, but two major changes affect individuals starting in 2019.
December 15, 2018
Much has changed for businesses when it comes to filing their 2018 income tax returns. But one thing that hasn’t changed is the multitude of tax-related deadlines businesses face in the first quarter of the year.
December 11, 2018
U.S. companies should pay close attention to a narrow section of the Tax Cuts and Jobs Act that requires businesses to recognize revenue for tax purposes no later than when it’s recognized for financial reporting purposes.
December 10, 2018
Recently proposed IRS regulations on business interest expense deductions help provide clarity after TCJA changes.
November 30, 2018
If you’re new to QuickBooks Online, there’s a lot to know about dealing with downloaded transactions right out of the gate. Here are a few tips to get you started.
August 27, 2018
Tired of repetitive data entry? QuickBooks provides a way to save time and keystrokes when you create some transactions.
August 20, 2018
The IRS has shared its new highly anticipated and complex regulations for the new deduction of up to 20 percent of qualified business income from pass-through entities. Here’s an overview of the biggest issues and changes.
August 13, 2018
As college campuses fill up for the fall semester, future CPAs are going back to class, too. Here are tips for aspiring accountants who want to make it big.
June 28, 2018
Dishonest employees can make big money using phony expense reports, stolen cash, and billing fraud, which cost companies more than $7 billion according to an annual worldwide survey conducted by the ACFE.
June 27, 2018
What goes into medical office accounting? For starters, you can’t manage what you can’t measure, so create statements that are meaningful for the practice. That’s just one of several helpful takeaways from the monthly chat with the Nashville Medical Group Management Association.
June 22, 2018
The U.S. Appeals Court for the 5th Circuit has issued its long-awaited and much-anticipated order that vacates the Labor Department’s fiduciary rule.
October 20, 2017
Business owners may prefer to classify workers as independent contractors for a number of reasons, but there are many detailed requirements that must be met for the classification to stand up to IRS scrutiny.
October 18, 2017
Misclassifying employees can be a costly mistake for your business. The IRS has been particularly aggressive in its pursuit of worker misclassification in recent years, putting you at real risk if you have misclassified employees as contractors.
May 30, 2017
Retention guidelines help determine whether to keep or destroy tax records.