In the early spring of 2020, many people were forced to make tough decisions regarding their living situations because of the COVID-19 pandemic. While many of these decisions were intended … Read More
Tax and phishing scams have always been a risk for consumers, with the evolution of the internet constantly changing these scammer tactics. In recent years, these unethical tactics are becoming … Read More
Over the last few months, there has been a hot debate surrounding the Paycheck Protection Program (PPP) Loan Forgiveness. The American Institute of CPAs (AICPA) made an official statement in … Read More
Last week, the U.S. Treasury Department and the IRS issued an update regarding the Tax Cuts and Jobs Act (TCJA, P.L. 115-97), simplifying tax accounting regulations for small businesses. These … Read More
The Government Accounting Standards Board (GASB), recently issued a proposal seeking change in the way state and local governments report financial information. This initiative is led primarily under Joel Black, … Read More
In a press release on July 17th, the federal reserve board announced that the Main Street Lending Program will be extended to more nonprofits. History of the Main Street Lending … Read More
In December, the AICPA shared the practice aid “Accounting for and Auditing of Digital Assets”. This week the AICPA released new updates to the nonauthoritative guide. Background on Digital Asset … Read More
There is traditionally a lull in the accounting industry following the rush of each tax season. Unlike other years however, 2020 will continue to stay busy for CPAs due to … Read More
If you haven’t heard already, the tax deadline was extended to July 15 of this year as a means of providing extra time for taxpayers during the pandemic. The IRS … Read More
If you haven’t had time to keep up with the tax news for this week, we’ve got you covered. The IRS recently announced that it will NOT be extending the … Read More
With the deadline for the Payment Protection Program (PPP) loans fast approaching, we wanted to share a quick reminder regarding what you need to know when it comes to applying … Read More
Mike Silvio, Director of Tax Services Lucia Valenzuela, Senior Manager, Specialty Tax Consulting The May 2020 revision of Governor Newsom’s proposed budget includes a provision to temporarily suspend net … Read More