Nonprofit Organizations

OPERATING COST REDUCTION STRATEGIES TO CONSIDER DURING CRISIS MANAGEMENT AND RECOVERY

By Ross Forman In the midst of the COVID-19 crisis, operational challenges are among the top sources of pressure for businesses. Unforeseen costs, disruptions in services and, for most organizations, significant material hits to revenue are top of mind as you navigate new issues related to maintaining facilities and business functions. For these reasons, identifying and Read More…

SMALL BUSINESSES: ACT NOW TO TAKE ADVANTAGE OF SBA LOANS AND PAYROLL TAX INCENTIVES

Background In light of the novel coronavirus (COVID-19) global pandemic, many small-to-medium sized businesses are struggling to manage revenue losses amid prolonged economic uncertainty. To offset the pandemic’s financial impacts, Congress has passed several stimulus bills, including the Families First Coronavirus Response Act and the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which includes provisions Read More…

SBA DISASTER ASSISTANCE IN RESPONSE TO THE CORONAVIRUS – LOW-INTEREST LOANS

In response to the novel coronavirus (COVID-19) pandemic affecting the small business community across the country, the U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working capital to small businesses suffering substantial economic injury. Substantial economic injury means the business is unable to meet its obligations and to pay its ordinary Read More…

EMPLOYERS CAN IMMEDIATELY PROVIDE TAX-FREE QUALIFIED DISASTER PAYMENTS TO EMPLOYEES IN CONNECTION WITH COVID-19

Employers are scrambling to find ways to help their employees who are impacted by the novel coronavirus (COVID-19). Help is available.  Now that the COVID-19 has been declared a national emergency,[1] Internal Revenue Code Section 139 can be used to allow employers to make tax-free payments or reimbursements to employees as “qualified disaster payments.” Below are Read More…

FEDERAL AID PACKAGE HELPS INDIVIDUALS AFFECTED BY COVID-19

The Families First Coronavirus Response Act (H.R. 6201),  became law on March 18, 2020. The Act guarantees free testing for the novel coronavirus (COVID-19), establishes emergency paid sick leave, expands family and medical leave, enhances unemployment insurance, expands food security initiatives, and increases federal Medicaid funding. The Act includes up to 80 hours of emergency Read More…

LOSSES THAT OFFER TAX SAVINGS

If you’re interested in minimizing your tax obligations and maximizing your savings, consider these helpful tips, and contact us to review your tax strategy. Losses that Offer Tax Savings Capital loss, casualty loss, net operating loss — a loss by any name causes a financial setback. It’s something no one likes to think about, much Read More…

5 PRODUCTIVITY KILLERS & HOW TO SLAY THEM

If you feel that business is harder today, you’re not alone. In addition to rising regulatory obligations and relentless technological change, the ability to attract and retain top talent has never been more difficult. To compete and thrive in this environment, businesses need to optimize their finance and accounting practices, and that means tackling challenges Read More…

UPDATED FEDERAL FORM W-4 WILL BE AVAILABLE

The IRS recently issued a revised Draft Form W-4 (Employee’s Withholding Allowance Certificate). The final version will be released in November 2019. This form is not applicable until January 1, 2020. The form was revised to reflect more accurately, the changes in the tax code due to the enactment of the 2017 Tax Cuts and Jobs Read More…

EIGHT KEY TAX PLANNING OPPORTUNITIES FOR BUSINESSES IN 2019

More than a year after sweeping federal and state tax reform were enacted, businesses of all sizes are still wrapping their arms around the changes. Additional guidance and regulations have been issued nearly every month—indeed, change is the new normal. Strategic tax planning now is key to lowering businesses’ total tax liability. Read on for Read More…

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