The manufacturing industry’s dependence on foreign suppliers, especially those in China, has caused concerns for many years. But the COVID-19 pandemic has...
Adjusting to Manufacturing’s New Normal
8 Accounting Practices for a Financially Healthy Construction Business
Jan 07, 2021Construction accounting is different from the accounting practices of businesses that use only a general ledger. Because construction companies perform contract...
When Should Not-for-Profit Organizations Return Donations?
Jan 07, 2021A donor makes a cash contribution to a nonprofit community health organization. The donor itemizes income tax deductions and meets the IRS’s substantiatio...
A Dozen New Year’s Resolutions for Small Business Owners
Jan 07, 2021Have you made any New Year’s resolutions for 2021? Resolutions usually take the form of personal goals like eating healthier or getting rid of clutter aro...
Appropriations Law Adds Some Business Tax Breaks and Extends Others
Jan 07, 2021President Trump signed the Consolidated Appropriations Act (CAA) into law on December 27, 2020. The legislation adds a few new tax breaks for businesses and ext...
The Tax Implications of Closing a Schedule C Business
Jan 07, 2021Unfortunately, many businesses have already been forced to close their doors due to the economic fallout from COVID-19, and more will surely follow. Closing a b...
Energy-Related Tax Breaks Are Extended in the New Law
Jan 07, 2021The massive economic stimulus and government spending law, which was signed on December 27, 2020, extends several energy-related tax breaks. Before the Consolid...
COVID-Related Tax Relief Is Signed Into Law
Dec 28, 2020On December 27, President Trump signed the Consolidated Appropriations Act of 2021 (CAA), which provides pandemic relief, as well as other tax and health-relate...
Just in Time for the Holidays: Pandemic Relief for Individuals
Dec 23, 2020On December 21, Congress passed the Consolidated Appropriations Act of 2021 (CAA), which provides pandemic relief for individuals and businesses, as well as oth...
Covid Relief – Second Act Stimulus
Dec 22, 2020On Monday, December 21, 2020, Congress voted to approve a long-awaited stimulus related to the ongoing Covid-19 Coronavirus pandemic. The legislation is expecte...