Good Recordkeeping is Key to Tax Deductions & Efficient IRS Audits
If you operate a small business, or you are starting a new one, you probably know you need to keep records of your income and expenses. In particular, you should
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How to Navigate Election Season as a Non-Profit
The 2020 presidential election is fast approaching and your non-profit has a stake in its outcome. But that does not mean your organization is free to participate in campaign activities.
Evaluating Your Company’s Competitiveness In A Changed Economy
Just about every business owner’s strategic plans for 2020 look far different now than they did heading into the year. The COVID-19 pandemic has changed the economy in profound ways,
Succession & Estate Planning Considerations
Transferring a family business to the next generation requires a delicate balancing act. Estate and succession planning strategies are not always compatible, and family members often have conflicting interests. By
Asset Impairment in 2020 Financial Statements
Some companies are expected to report impairment losses in fiscal year 2020 because of the COVID-19 crisis. Depending on the nature of your operations and assets, the pandemic could be
COVID-19 & HIPAA: Information Gathering from Employees During the Pandemic
To cope with the COVID-19 crisis, many employers are taking employees’ temperatures and asking them general health-related questions as they report to work. A relevant question that often arises in
Fraud In The Family Business
Family businesses make up the vast majority of companies in the United States and produce 62 percent of the country’s gross domestic product, according to the Conway Center for Family
SBA Reopens EIDL Program To Small Businesses & Non-Profits
Just last week, the Small Business Administration (SBA) announced that it has reopened the Economic Injury Disaster Loan (EIDL) and EIDL Advance program to eligible applicants still struggling with the
Regaining Tax-Exempt Status After Failing To File Form 990s
Non-profit organizations can lose their tax-exempt status in a variety of ways — including participating in lobbying and campaign activities, receiving excessive unrelated business income, and allowing board members to
Coronavirus-Related Distributions for Retirement Plans
As you may have heard, the Coronavirus Aid, Relief, and Economic Security (CARES) Act allows ‘qualified’ people to take certain ‘coronavirus-related distributions’ from their retirement plans without paying tax. So