Articles
Planning Considerations for Foundations Undergoing Audits in the Coming Months
As a new year brings on a new audit season, foundations that undergo a financial statement audit need to ensure they are properly prepared to enable the process to proceed with minimal issues and disruption to their operations.
Retirement Plan Missing Participants – DOL Guidance (Finally) and Action Plan
A common problem for retirement plan administrators is the maintaining of current contact information of former employees during the period of time when they leave a company to the time they become eligible to receive benefits from the retirement plan.
Donated PPE: Reporting in US GAAP and Single Audit Financial Statements
Due to severe shortages of personal protective equipment (PPE) during the coronavirus pandemic, many not-for-profit entities received donated PPE such as masks, face shields, hand sanitizer and gloves.
“To the Victor Go the Spoils” … Tax Reform is Now on the Way
In the Georgia runoff election on January 5th, the Democratic Party finished what it started last November … winning the trifecta of the White House and control of both chambers of Congress.
Paycheck Protection Program ‒ Housing Cooperatives
The Consolidated Appropriations Act, 2021 (Act), which was signed into law in late December, includes a new round of funding for the Paycheck Protection Program (PPP).
Tax Issues and Best Practices for Employee Disaster Relief Payments
Over the course of a difficult 2020 and a still uncertain 2021, employers have grappled with how to provide needed support for employees to keep their business going.
Cyber Roundup – January 2021
Shakespeare’s King Lear said “You will gain nothing if you invest nothing.” Although used in a different context, this excerpt might apply to those businesses that don’t invest (time and money) in safeguarding their IT infrastructure.
Hotel Bad Debts: Are They Always Tax Deductible?
Many hotel companies have a standard operating procedure for calculating allowance for doubtful accounts.
Single Audit Requirements for Provider Relief Funds
By Keith Solomon, CPA, Partner and Laurie Hafner, CPA, Partner The Office of Management and Budget issued in late December 2020 […]
2020 Financial Services Accounting and Regulatory Look-Back
The year 2020 brought several important news releases from the Securities and Exchange Commission (SEC) and the American Institute of Certified Public Accountants (AICPA) related to the investment advisor community.
Pension and Health Provisions of the CAA, 2021
As part of our commitment to helping our clients stay informed of changing Employee Benefits issues, we are pleased to provide you with new information and perspectives that were included in the Consolidated Appropriations Act (CAA, 2021).
OMB Issues Compliance Supplement Addendum Governing CARES Funding for Higher Education
The Office of Management and Budget released late last month the much-awaited Compliance Supplement Addendum.