BREAKING NEWS

Stephen Mazza Joins BMF as Partner!

BMF welcomes with pride and purpose, our newest partner and member of the firm, Stephen Mazza!

Articles & Publications

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BMF Named a 2021 Best of the Best Firm by INSIDE Public Accounting

We are excited to announce that we have been named to the 2021 Best of the Best Firms list by INSIDE Public Accounting (IPA), an award-winning newsletter for the public accounting profession. This is the second consecutive year we’ve. Read More >>

Employee Retention Credit: Calculations, Wages, PPP Forgiveness and More – Guidance for Q3 and Beyond

The IRS released Notice 2021-49 on August 4, which amplifies and clarifies guidance from the two previous Employee Retention Credit (ERC) Notices (see here, and here) and provides additional guidance on the American Rescue Plan (ARP) extension of the. Read More >>

Presentation and Disclosure of Nonprofit Nonfinancial Gifts In-Kind

August 11, 2021 Nonprofit

In September 2020, the FASB issued Accounting Standards Update 2020-07 (“Update”), Not-for-Profit (nonprofit) Entities (Topic 958) Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets, as the result of concerns regarding the lack of transparency around how a. Read More >>

SBA Speeds Up PPP Loan Forgiveness Process

The U.S. Small Business Administration (SBA) has published new guidance to simplify and speed up the forgiveness process for Paycheck Protection Program (PPP) loans of $150,000 or less. In their 29-page interim final rule (IFR), the SBA is introducing. Read More >>

Ohio 2021 Back-to-School Sales Tax Holiday is Aug 6-8

The Ohio Department of Taxation announced that the 2021 Sales Tax Holiday will start on Friday, August 6, 2021, and end on Sunday, August 8, 2021, at midnight.  During the holiday the following items will be exempt from sales and use. Read More >>

Employee Retention Credit: Have You Checked Your Eligibility Lately?

The Employee Retention Credit (ERC) under the March 2020 CARES Act encourages businesses to keep employees on their payroll. With this credit now extended through the end of 2021, the tax credit is 70% of up to $10,000 in. Read More >>

SBA Eliminates PPP Loan Necessity Questionnaire

We reported last month that the Small Business Administration (SBA) was planning to withdraw its controversial Loan Necessity Questionnaire for Paycheck Protection Program loans of $2 million or more. In a notice sent July 9, the SBA officially stated. Read More >>

The Changing Face of the Employee Benefit Plan Limited Scope Audit

As we noted last month, the Employee Retirement Income Security Act of 1974 (ERISA) requires that employee benefit plans with 100 or more eligible participants are required to have their financial statements audited annually, which should be attached to. Read More >>

Mindy Marsden Named Partner at BMF

Mindy S. Marsden, CFE, has been named our newest partner at BMF, effective July 1, 2021. Mindy was a Senior Manager in our Transaction Advisory Services (TAS) practice; which is a national practice serving private equity groups, strategic buyers,. Read More >>

SBA To Withdraw Paycheck Protection Program Loan Necessity Questionnaire

The American Institute of Certified Public Accountants (AICPA) yesterday reported that the Small Business Administration (SBA) plans to withdraw its highly controversial loan necessity questionnaire. Last fall the SBA published Form 3509 – Loan Necessity Questionnaire in an attempt. Read More >>