President Biden signed into law the new debt ceiling agreement that he reached with U.S. House of Representatives Speaker Kevin McCarthy (R-CA). The Fiscal Responsibility Act (FRA) suspends — as … Continued

As the end of year approaches, we want to remind organizations of two new accounting standard updates that are effective for calendar year 2022. Leases (Topic 842) – ASU 2016-02 … Continued

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

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

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.

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.

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.

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

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

The answer is…YES!