BREAKING NEWS

Costantini, Mitchell, Petersen, Shulas Promoted to Director

We are excited to announce the creation of a new Director role within the firm and have appointed four of our leaders to hold these positions.  

Articles & Publications

Preparing for the New Form 1099-NEC, Nonemployee Compensation

The IRS has reintroduced Form 1099-NEC to help clarify the separate filing deadlines on Form 1099-MISC. Companies that make payments to nonemployee service providers and vendors could face a challenging Form 1099 reporting season for 2020 because of this. Read More >>

IRS Issues Additional Guidance on Taxability of PPP Loan Forgiveness

We previously reported back in May that the IRS issued Notice 2020-32, stating that expenses related to forgiven Paycheck Protection Program (PPP) loans would not be deductible. This created much uncertainty as to how those rules would apply under. Read More >>

IRS Broadens Tax Filing and Payment Relief, Refund Guidance Coming Soon

Previous tax return and payment relief were centered around income tax filings due by April 15, 2020. This newest relief applies to all taxpayers that have a filing or payment, specified in this notice, with a due date falling. Read More >>

In Response to COVID-19: House & Senate Approve $2 Trillion Economic Rescue Package; Tax Extensions Clarified

In an effort to rush sweeping aid to businesses and workers, lawmakers reached agreement on another relief bill that includes several economic incentives, as well as additional tax relief provisions. The details of the $2 trillion stimulus package are. Read More >>

Treasury Extends Tax Filing Deadline 90 Days

In a historic move, Secretary of the Treasury, Steven Mnuchin has announced the April 15th tax filing deadline is changed to July 15 for all taxpayers and businesses via Twitter. “At @realDonaldTrump’s direction, we are moving Tax Day from. Read More >>

Families First Coronavirus Response Act: Relief Benefits and Tax Deadlines

The U.S. House of Representatives has passed H.R. 6201 – Families First Coronavirus Response Act (HR6201) to provide relief to those affected by the outbreak. This bill addresses critical and vulnerable areas that may directly affect work and life,. Read More >>

Overcoming Resistance to Innovate: Become a change agent

We all know that the greatest obstacle to innovation isn’t the change itself, but the reluctance of accepting it. Fear of the unknown is a major culprit to this adverseness. Employees, and people in general, are concerned about their. Read More >>

2019 Tax Provisions: Extenders Bill, ACA Tax Repeal, SECURE Act

Averting another government shutdown, President Trump signed a $1.4 trillion spending package which will fund the government until September 30, 2020.  As part of the spending package, there are several tax provisions including an ‘extenders’ bill, the SECURE Act. Read More >>

Measuring Product Profitability: The Power and Pitfalls of Gross Profit Margin

Let’s start off with a story to show you the power of your gross profit margin: Company A sells 1,000 widgets to three customers at a 20% gross profit of $600. Company B sells 1,000 widgets to 300 customers. Read More >>

Loan or Lease: What’s the smartest way to finance new assets?

If your company needs to expand its facilities or update equipment, you may be weighing the pros and cons of financing vs. leasing. There are many factors to consider when deciding which option is best for your company. We’ve. Read More >>