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November 16th, 2020 • Blog

Vera Bruursema

1099-NEC or 1099-MISC and What Has Changed

Non-employee compensation reporting has been removed from Form 1099-MISC for the 2020 tax season and beyond. The IRS has redesigned the Form 1099-MISC and revived a new version of the 1099-NEC. 1099-NEC What was previously reported on Box 7 of the 1099-MISC, the new 1099-NEC will now capture any payments to non-employee...
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October 6th, 2020 • Blog

Kathryn A. Sisson, CPA, MST

Is Outsourced Accounting Right for Your Business?

As we navigate through our new reality, we are all learning and embracing more and more about technology each day - from online banking to virtual meetings. Many businesses are evaluating how they operate in all areas of their business and finding ways to be more efficient. One area you...
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September 3rd, 2020 • Blog

Sammie Binning, CPA

Paycheck Protection Program Loan Forgiveness Process

The Paycheck Protection Program (PPP) was enacted as part of the Coronavirus Aid, Relief and Economic Security (CARES) Act in March 2020 to assist small employers with the cost of maintaining their employees during the COVID-19 crisis through a loan from the Small Business Association. This article will cover how forgiveness...
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August 11th, 2020 • Blog

Alan Goodwin, MSA

GASB Postpones Effective Date of Recent Provisions

Local Governments have something to be thankful for! On Thursday May 7, 2020, the Governmental Accounting Standards Board (GASB) officially approved guidance postponing effective dates on certain pronouncements. In response to challenges due to the COVID-19 pandemic GASB approved Statement 95, Postponement of the Effective Dates of Certain Authoritative Guidance....
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