This article discusses how the coronavirus pandemic has shifted the way many industries are conducted on a day-to-day basis. Specifically, teleworking has become the new norm, and it is important to have proper procedures in place in order to promote efficiency for your business. A few tips include communicating and being transparent with your employees, .....
By Marc Berger, CPA, JD, LLM On Dec. 2, 2020 the U.S. Treasury and IRS published final regulations under Internal Revenue Code (IRC or Code) Section 512(a)(6), the provision requiring tax-exempt organizations with more than one unrelated trade or business to calculate unrelated business taxable income (UBTI) separately with respect to each trade or business. .....
This article discusses the definition of work management and how it differs from project management. Specifically, work management “is the oversight and supervision of all individual and team tasks and task lists within one project or across a company’s operations.” The concept of work management can include pieces of time, resource, process, and client relationship .....
This article discusses and outlines seven different technology trends to watch within the small business industry. Specifically, these trends are designed to improve software, automation, and machinery functionality. Artificial intelligence-powered chatbots and CRM, streamlining HR work, 5G, and voice-activated payments are all expected to have a significant impact. Be sure to check out this link .....
This article discusses and emphasizes the importance of having and implementing the most efficient debt collection process possible. Providing services to your client before payment is often a risky but necessary part of doing business. Implementing strategies such as invoice date, contact information, and obvious total invoice values can help ensure that your business gets .....
This article discusses how the COVID-19 pandemic has resulted in low interest rates and depressed asset values, creating a very unique opportunity for estate planners. Specifically, this article outlines five different strategies to consider utilizing during this time. For example, annual gift tax exclusion, gifting interest, annuity trusts, and intra-family loans are all topics that .....
This article discusses and emphasizes the need for all businesses to be able to adapt and pivot in the right direction, especially during a crisis like the Coronavirus pandemic. Some tips that are outlined are the ability to strategize quickly, supporting company morale, staying grounded, and preparing for a future crisis through risk management. No .....
On March 17, 2021, the IRS released a statement indicating the April 15 deadline for individual taxpayers would be extended to May 17. The IRS statement can be found here. Unlike the July 15 extension provided last year, this extension only pertains to individual Form 1040 filings. It does not apply to 2021 first quarter estimates due by April .....
The American Rescue Plan Act (ARPA) was passed by the Senate on Saturday, March 6 and in the House on Wednesday, March 10. The $1.9 trillion relief bill was signed into law on Thursday, March 11 by President Biden. Read on for details on the provisions included in the ARPA. Individual Stimulus Checks Estimated portion .....
This article discusses how the Small Business Administration has made significant changes when comparing the first round of the Paycheck Protection Program (PPP) and the most recent program. Specifically, the SBA stated that “The changes aim to speed up the flow of funds to PPP applicants while maintaining the integrity of the program.” These changes .....
