In a recent and welcomed move, the Financial Accounting Standards Board (FASB) approved a one-year deferment for private companies and nonprofit organizations to comply with the new accounting rules for revenue recognition and leases as a result of the ongoing challenges surrounding the pandemic. Revenue Recognition Standards While public companies have been using the revenue… Read more

Congress recently passed legislation to loosen some of the restrictions that came with the popular Payroll Protection Program; the president signed it into law on June 5. The new law runs only about 1,000 words, but it contains several major changes that vastly extend the terms of the program: The new law lets PPP loans… Read more

The Internal Revenue Service has been distributing Economic Impact Payments to taxpayers across the nation since April. If you’re still waiting, you may be getting a Visa debit card instead of a check in the mail. Over the past few months, nearly 140 million taxpayers have received stimulus payments totaling $239 billion as either a… Read more

Everyone wants to protect their families, even after they pass from this world. That’s the purpose of estate plans. But how do you know whether all of the elements of a good plan are in place? The first step is understanding the difference between a will and a trust: A will lays out your wishes… Read more

“Siri, what is my year-to-date net income?” This is where technology is going. Are you on target to get there? Our remote work environments have forced us to take a hard look at the capabilities of our accounting software, and whether they’re serving us well or holding us back. A couple months ago, businesses were… Read more