Paid Leave for Employees Impacted by COVID-19 in 2021

Some employers can give paid leave to employees impacted by COVID in 2021 and claim a payroll tax credit per the American Rescue Plan Act.

Webinar Recording: Are You Ready for ASC 842? Simplify Your Lease Accounting

As the recovery continues, many businesses and exempt organizations are taking another look at the new lease accounting standard and requirements. Learn how to simplify the process.

2021-08-09T08:29:58-04:00July 20, 2021|Categories: Accounting, Live Webinar, Past Events|Tags: |

Change in Accounting for Certain Residential Rental Property

Certain types of residential rental property placed in service prior to 2018 can claim a shorter depreciation recovery period, potentially generating significant tax benefits. Affected taxpayers have until April 15, 2022 to file an amended return.

2021-08-26T13:49:04-04:00July 6, 2021|Categories: Accounting, Construction and Real Estate|Tags: , |

GSA Cancellation Emphasizes the Importance of a Compliant Cost Accounting System

The recent cancellation of the General Services Administration (GSA) $15Billion Alliant 2 Small Business (A2SB) contract highlights the need for small government contractors to have a properly evaluated cost accounting system.

2020-10-17T12:40:40-04:00October 13, 2020|Categories: Accounting, Government Contracting|Tags: , , |

Coronavirus: Financial Reporting Considerations

Source: RSM US LLP.  PBMares is a member of RSM US Alliance.  The effects of the coronavirus are evolving rapidly and are unique for each entity’s circumstances. In addition to addressing the serious operational impacts of the coronavirus, it is important that all entities consider how the coronavirus affects their financial reporting.

Excessive Profits as a Government Contractor: Windfall or Downfall?

Government spending has increased, leaving Congress no choice but to review the Pentagon’s enforcement of the law related to the incomplete and inaccurate cost and pricing data used to establish contract pricing. First implemented in 1962 to level the playing field during contract price negotiation, the law has left many government contractors raking in the profits today. But what may seem like a windfall could lead to a downfall.

2020-01-02T15:02:54-05:00December 20, 2019|Categories: Accounting, Government Contracting|Tags: |

Automation, the Human Touch, and Cloud Accounting

Organizational leaders can spend less time on repetitive accounting tasks and more time connecting with clients and by using automated and cloud computing software. Learn how cloud accounting can save you time, money and frustration so you can focus on what matters most.

2019-11-21T16:41:12-05:00November 21, 2019|Categories: Accounting, Business Advisory|Tags: , |

Government Contractors-Protect Against Unallowable Subcontractor Costs

The Defense Contract Audit Agency recently questioned the allowance of subcontractor costs, not based on their reasonableness, but on the contractor’s lack of supporting documentation as defined in the cost principle. Government contractors can protect themselves and recover the costs they are owed, but there are steps to follow and documents to submit.

2021-07-06T15:25:46-04:00September 19, 2019|Categories: Accounting, Government Contracting|Tags: , |

We Are All Ethical, Until We Are Unethical

For government contractors, it is important to recognize your ethics and business conduct program must be tailored to your company’s specific risk profile.  This is a dynamic compliance process and has to be monitored and revised accordingly to keep it relevant and effective. Does your company’s business conduct and ethics program meet the necessary requirements?

2019-09-23T14:25:52-04:00July 25, 2019|Categories: Accounting, Government Contracting|Tags: |

Are Nonprofits Required to Pay Taxes for Employee Parking?

Under the Tax Cut & Jobs Act, nonprofits are required to allocate parking expenses provided to employees and report unrelated business taxable income (UBTI) on the transportation fringe benefit. Learn about the four-step process used to determine the amount of employee related parking expenses subject to UBTI.

2019-03-19T14:50:42-04:00February 22, 2019|Categories: Accounting, Not-for-Profit|Tags: , , |
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