July 14

The 2021 Child Tax Credit

Reading Time: 2 minutes   Thanks to recent changes to the 2021 Child Tax Credit, many households will be getting a letter from the IRS this summer informing them that they may be receiving monthly advance Child Tax Credit payments starting in July. What is the Child Tax Credit (CTC)? The Child Tax Credit is simply a benefit that.

July 6

The New Lease Accounting Standard – ASC 842 Overview

Reading Time: 7 minutes What is the new lease accounting standard? The new lease accounting standard (ASC 842) is going to significantly change the way that we are accounting for our leases, specifically, our leases of property equipment that are greater than 12 months. We’ll be taking leases and bringing them onto our balance sheet using right-of-use assets and.

June 3

Tap into the Tax Advantages of Your Property With Cost Segregation

Reading Time: < 1 minute How Cost Segregation Can Increase Cash Flow and Reduce Taxes Cost segregation studies separate real property into depreciable categories, allowing taxpayers to depreciate property over much shorter periods of time. By taking deductions sooner, owners lower their current-year tax liability and free up more capital. Are You Eligible For a Cost Segregation Study? If your.

April 29

How the Pre-Award Survey Can Help a Government Contracting Business Rebound from the Disruption of COVID-19

Reading Time: 8 minutes   Although 2020 has become a popular punchline, it was filled with tragedy and stress for many business owners. As we begin to approach normalcy, many businesses remain focused on post year-end guidance detailing how to account for the consequences of the pandemic and subsequent fiscal response from the federal and state governments, which will.

April 21

Three Ways to Improve Supply Chain Management

Reading Time: 4 minutes   Businesses can reap big rewards by making a commitment to improving supply chain management. Unfortunately, many businesses fail to devote adequate resources to this endeavor, thus missing out on potential benefits.   Improving supply chain management starts with developing a supply chain management strategy. While this effort may be time-consuming, not creating a supply.

April 20

The Hidden Advantages of Outsourced Accounting You Can’t Ignore

Reading Time: 3 minutes   Outsourcing certain business functions to third-party service providers is not a new concept. Businesses have been outsourcing functions like payroll, IT and human resources for years. However, many companies haven’t given much thought to outsourcing their accounting and finance functions. There are many advantages of outsourced accounting — including freeing up your team to.

March 30

Individual Tax Provisions of ARPA (The American Rescue Plan Act of 2021)

Reading Time: 3 minutes   The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, is the latest major legislation that provides economic relief and stimulus, both tax and non-tax, during the Covid-19 pandemic. Below are brief summaries of the key aspects of the individual tax provisions in ARPA. Recovery rebate credits (stimulus.

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