Read About - Family Business Succession Planning During the PandemicDecember 15, 2020
The health and economic crisis triggered by the COVID-19 pandemic, which has unleashed numerous challenges for organizations, has also opened many opportunities
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Read About - Year-End Giving: 6 Disclosure Requirements for Noncash Charitable ContributionsDecember 14, 2020
Charitable giving plays a key role in year-end tax planning for individuals and businesses
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Read About - New Standards for In-Kind Donations to NonprofitsDecember 14, 2020
Nonprofits often have contributions to the mission of the organization, which could include accounting and legal services, IT, fundraising events, and even volunteering for program or administrative activities within the organization
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Read About - New IRS Guidance under the SECURE Act on Terminating a 403(b) PlanDecember 14, 2020
Terminating a 403(b) plan has historically been challenging for plans utilizing individual contracts
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Read About - Taking Stock of COVID and Its Impact on Nonprofits
Read About - California Proposition 19 – Property Tax Transfers and ExemptionsDecember 7, 2020
With the recent passage of Proposition 19, many Californians are wondering how this will impact them
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Read About - Governor Newsome Announces Immediate Assistance for Businesses Impacted by COVID-19 Including Temporary Tax Relief and $500 Million in GrantsDecember 7, 2020
Billions in immediate, temporary tax relief will support businesses impacted by COVID-19, including an automatic three-month extension for taxpayers filing less than $1 million in sales tax and interest-free payment agreements to larger companies with up to $5 million in sales tax and expanded interest-free payment options for larger businesses…
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Read About - December 2020 Audit & Assurance NewsletterDecember 3, 2020
FASB staff weighs in on debt modifications and restructurings
FASB’s staff recently published an educational paper that provides guidance to borrowers on how to account for debt modifications and restructurings, which have been common this year as a result of the coronavirus pandemic
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Read About - Converting to a Roth IRA in these Pandemic TimesDecember 1, 2020
It is an understatement to say that 2020 has been associated with trying times – rapidly increasing unemployment, unprecedented business losses, and fears associated with the COVID-19 pandemic
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Read About - Long-Term Part-Time Employees Now Part of 401(k) PlansDecember 1, 2020
The Setting Every Community Up for Retirement Enhancement (SECURE) Act mandates plan sponsors to offer participation in their 401(k) plan to long-term part-time employees
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Read About - Selling a Corporation: Stock Sale versus Asset SaleDecember 1, 2020
One of the biggest decisions facing business owners is selling the business
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Read About - IRS Releases PPP Deduction GuidanceNovember 19, 2020
In newly released formal guidance, the IRS has confirmed that taxpayers with a reasonable expectation of Paycheck Protection Program (PPP) loan forgiveness may not deduct expenses paid with those funds, even if the forgiveness has not been granted prior to the end of the taxable year
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