BLS Insights

Category: Accounting

New Tax Reporting Requirements for Payment Apps

February 15, 2022

If you run a business and accept payments through third-party networks such as Zelle, Venmo, Square, or PayPal, you could be affected by new tax reporting requirements that take effect … Continued

Learn More >>

Accounting for Grants and Contributions (ASU 2018-08) – Part 3

March 07, 2019

In the first two blogs in this series, we explained guidance found in this new ASU regarding contributions vs exchange transactions, and conditional vs unconditional contributions

Learn More >>

ASU 2016-14 – Functional Expense Reporting

January 24, 2019

In August 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016-14 (ASU 2016-14) to make improvements to the communication of information on not-for-profit financial statements.

Learn More >>

Accounting for Grants and Contributions (ASU 2018-08) – Part I

December 20, 2018

On June 21, 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-08: Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made.

Learn More >>

Tax Cuts and Jobs Act: Withholding and Form W-4 Changes

January 10, 2018

With the tax reform bill signed into law it is time to prepare for changes to the existing withholding tables and systems. Although the new tax bill has initially taken effect as of January 1, 2018, the IRS is still working on developing and issuing the withholding guidance.

Learn More >>

The Importance of Effective Bookkeeping

January 07, 2018

Bookkeeping is not likely the first item on a business owner’s list of things they enjoy about running their company.

Learn More >>

Important Information Regarding FORM 1099-MISC

December 18, 2017

As we prepare for the approaching tax filing season, we have some important information to share regarding the filing of certain Forms 1099-MISC.

Learn More >>

How Long Should My Organization Retain its Accounting Records?

May 17, 2017

Every weekend I count on throwing away, recycling, or donating at least 10 items in my house.

Learn More >>

Projecting with Cash Flow Management

January 09, 2013

Calvin Coolidge, the 30th President of the United States, once said, “The business of America is business.”

Learn More >>


Need Additional Information?

If you need more information, please contact us so we can connect you with one of our CPA advisors who will be committed to your business and personal success. BLS is here to help!