Make your fraud contingency plan a blueprint for swift action
January 22, 2021 Knowledge Center
Make your fraud contingency plan a blueprint for swift action

Over the past year, most businesses have been forced to contend with multiple crises, including COVID-19, social unrest and financial challenges. The last thing you need right now is a fraud incident. But if your company is defrauded, you can help mitigate the damage with a fraud contingency plan. Identifying likely scenarios No contingency plan […]

How the new COVID-19 relief law affects retirement benefits
January 21, 2021 COVID-19
How the new COVID-19 relief law affects retirement benefits

The Consolidated Appropriations Act (CAA) includes a wide variety of provisions that address the ongoing economic hardships caused by the COVID-19 pandemic. There are so many provisions, in fact, that you may find it challenging to keep track of everything pertinent to your organization. One example is retirement benefits. Although the CAA doesn’t make sweeping […]

How well do your nonprofit’s development and accounting departments communicate?
January 21, 2021 Knowledge Center
How well do your nonprofit’s development and accounting departments communicate?

Your accounting and development departments are central to the continued financial health of your not-for-profit. So what happens when communication between these two functions break down? It could result in conflict between staffers, inaccurate financial statements and, in a worst-case scenario, the forfeiture of grant funds. Here’s how you can encourage collaboration. Note different accounting […]

Blockchain beckons businesses … still
January 19, 2021 Knowledge Center
Blockchain beckons businesses … still

The term and concept known as “blockchain” is hardly new. This technology surfaced more than a decade ago. Bitcoin, the relatively well-known form of cryptocurrency, has gotten much more attention than blockchain itself, which is the platform on which Bitcoin is exchanged. One might be tempted to think that, having spent so many years in […]

Reduce gift and estate tax exposure by making direct payments of tuition and medical expenses
January 19, 2021 Knowledge Center
Reduce gift and estate tax exposure by making direct payments of tuition and medical expenses

Now that the gift and estate tax exemption has risen to $11.7 million for 2021, you may be less concerned about these taxes. But if you have children or grandchildren in college or with medical expenses, you may want to take advantage of the exemption for direct payments of tuition and medical expenses. It can […]

Forecasting for 2021
January 15, 2021 Knowledge Center
Forecasting for 2021

Planning for what lies ahead is an important part of running a healthy business. Forecasting your company’s financial statements can help you manage inventory and other working capital accounts, offer competitive prices, identify impending cash flow shortages and keep your business on solid financial footing. No forecast will be 100% accurate, especially during these uncertain […]

New law provides option to delay implementing the updated CECL standard
January 15, 2021 Knowledge Center
New law provides option to delay implementing the updated CECL standard

The Consolidated Appropriations Act (CAA), signed into law on December 27, 2020, includes a variety of economic relief measures. One such measure allows certain banks and credit unions to temporarily postpone implementation of the controversial current expected credit loss (CECL) standard. Here are the details. Updated accounting rules The Financial Accounting Standards Board (FASB) issued Accounting […]

Need another PPP loan for your small business? Here are the new rules
January 14, 2021 COVID-19
Need another PPP loan for your small business? Here are the new rules

Congress recently passed, and President Trump signed, a new law providing additional relief for businesses and individuals during the COVID-19 pandemic. One item of interest for small business owners in the Consolidated Appropriations Act (CAA) is the opportunity to take out a second loan under the Paycheck Protection Program (PPP). The basics The CAA permits […]

New year, new fraud to watch out for
January 14, 2021 Knowledge Center
New year, new fraud to watch out for

Whew, you made it through 2020! But don’t rest easy yet. Unfortunately, fraud perpetrators enjoyed a profitable year, and there are signs they may continue to feed off Americans as long as the pandemic is active. Here are several scams to watch for in 2021. PPP fraud Struggling small-business owners have welcomed last month’s 11th […]

Preventing surprise billing under the new COVID-19 relief act
January 12, 2021 COVID-19
Preventing surprise billing under the new COVID-19 relief act

By now you’ve likely heard and read much about the Consolidated Appropriations Act (CAA). Among its primary purposes, of course, is to provide much-needed relief to individuals and businesses still struggling during the COVID-19 pandemic. A couple of the law’s most talked-about features are stimulus payments to individuals and expansion of the Paycheck Protection Program […]

The COVID-19 relief law: What’s in it for you?
January 12, 2021 COVID-19
The COVID-19 relief law: What’s in it for you?

The new COVID-19 relief law that was signed on December 27, 2020, contains a multitude of provisions that may affect you. Here are some of the highlights of the Consolidated Appropriations Act, which also contains two other laws: the COVID-related Tax Relief Act (COVIDTRA) and the Taxpayer Certainty and Disaster Tax Relief Act (TCDTR). Direct […]

If FireEye And The U.S. Government Can Be Hacked, What About Me? | Forbes
January 12, 2021 In the News
If FireEye And The U.S. Government Can Be Hacked, What About Me? | Forbes

by David Lam | On December 8, premier information security company FireEye released in a blog post that it had been hacked. Several days later, the U.S. government reported that many federal agencies were also breached as a result of a major attack on IT software provider SolarWinds. So, how can small or medium-size businesses possibly stay secure? Read […]