PPP loan recipients can apply for loan forgiveness before their 24-week covered period ends, according to the Small Business Administration (SBA) and US Treasury Interim Final guidance issued Monday, June 22, 2020. This guidance follows the Paycheck Protection Program (PPP) Flexibility Act (Flexibility Act) of 2020 which was signed into
With the new lease accounting standard being effective for the 2021 year for calendar year non-public entities, and while many are focused on the accounting adjustments that will be necessary to recognize their operating leases on the balance sheet, a less apparent challenge is looming in the financial statement disclosures
With geopolitical uncertainty, supply chain snags, and economic volatility, manufacturers are at a crossroads. Maintaining the status quo in their financial practices could mean missing out on opportunities for growth and optimization – but how and when is it okay to implement big changes to financial systems without incurring serious
An excerpt from our Opportunity Zone Expo Panel Discussion on November 14, 2019 Before the second round of the proposed rules, the only way for investors to purchase an interest in a Qualified Opportunity Zone Funds (QOF) was with cash. Round Two of the proposed regulations allowed for QOFs to
Inflation creates a host of new challenges for distributors, but there are some great strategies and best practices to help overcome them. In a new webinar titled “How CRM and Business Intelligence Drive Growth During Uncertainty,” Modern Distribution Management and White Cup reviewed best practices distributors can use to measure
Effective liquidity management is essential to the financial health and long-term sustainability of non-profit organizations. In recent years, regulatory changes, particularly FASB’s ASU 2016-14, have placed a renewed emphasis on transparency around how non-profits manage and report liquid resources. In this post, we’re breaking down what liquidity means in a
With the exception of some minor speedbumps, 2018 was a great year for most engineering and construction (E&C) companies, as shown by the expected spending growth of 5%. Now as we move deeper into 2019, what can E&C companies expect for the rest of year and beyond? FMI recently issued
We’re thrilled to announce that Barnes Dennig has won ClearlyRated’s Best of Accounting for the 4th straight year – continuing a history of delighting clients with outstanding client service, innovative insights, and thought leadership that help them thrive in a better, brighter future. According to ClearlyRated, fewer than 2%
As with so many aspects of our lives, the pandemic has dramatically changed the landscape of dealerships as we know them – and that’s requiring them to adapt in creative new ways. One of the largest talking points in the dealership industry is the shortage of microchips, which has caused
Planning for your estate can be a complex process that requires careful consideration of different techniques and strategies. Grantor trusts and intentionally defective grantor trusts (IDGT) are two strategies individuals can use to provide tax benefits for themselves and their beneficiaries while reducing their estate tax liabilities. Grantor trust requirements
With cybersecurity concerns at an all-time high and new breaches hitting the news almost daily, more and more businesses are turning to SOC reports to provide peace of mind about data integrity and security. Maybe your largest customer just asked for a SOC report, or you just found out you
Don’t Mess with Taxes You have the wisdom to hire tax professionals to file your company’s returns. And although there’s never been a problem, per se, you can’t help wondering: “Why don’t they know more about my industry?” “Why don’t I hear from them more than once or twice a