IRS Introduces New Form 1099-NEC for 2020 Tax Year Reporting
Beginning in January of 2021, the IRS will require businesses to report non-employee compensation using a new Form 1099-NEC. Amounts formerly reported on Form 1099-MISC
COVID-19 Impact on Asset Impairment in the Energy Sector
The coronavirus pandemic infused unprecedented levels of uncertainty into our economy. When the virus became more widely spread in March, businesses closed, workers self-isolated, and
When Will Coronavirus Uncertainties Affect Going Concern, and What Should Management Do About It?
Overtime Changes Coming January 1st: Is Your Business Ready?
Timely Deposits of Participant 401(k) Plan Contributions More Important Than Ever
Some Tax-Advantaged Personal Property Exchanges No Longer Available After Tax Reform
Although the Tax Cuts and Jobs Act (TCJA) was written into law more than a year ago, it continues to play a strong role in
Best Practices for Month-End Close
While the beginning of the month can signify a fresh start for some, small businesses and their accounting departments sometimes associate the first few days
What Are Your Financial Statements Telling You?
As a small business owner, you’ve almost certainly heard the phrase, “your financial statements say a lot about your organization.” But the truth is,
Is the Worker You Just Hired an Independent Contractor or an Employee?
It sounds like this would be a simple question to answer – but is it? Determining your new worker’s employment status may be trickier than