Private companies and most nonprofits were supposed to implement updated revenue recognition guidance in fiscal year 2019 and updated lease guidance in fiscal year 2021. In the midst of the…
AppelrouthMay 29, 2020
Economists will look back on 2020 as a year with a distinct before and after. In early March, most companies’ sales projections looked a certain way. Just a few weeks…
AppelrouthMay 29, 2020
The IRS recently released the 2021 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA basics An HSA is a trust created or organized exclusively for the purpose of paying the…
AppelrouthMay 26, 2020
Many people are currently working from home to help prevent the spread of the novel coronavirus (COVID-19). Your external auditors are no exception. Fortunately, in recent years, most audit firms…
AppelrouthMay 26, 2020
Charitable contributions aren’t always eligible for tax deductions — even when the not-for-profit recipient is tax exempt and the donor itemizes. Take “quid pro quo” donations. These transactions occur when…
AppelrouthMay 22, 2020
Social media for business: Your time has come. That’s not to say it wasn’t important before but, during the novel coronavirus (COVID-19) pandemic, connecting with customers and prospects via a…
AppelrouthMay 22, 2020
The IRS has issued guidance clarifying that certain deductions aren’t allowed if a business has received a Paycheck Protection Program (PPP) loan. Specifically, an expense isn’t deductible if both: The…
AppelrouthMay 19, 2020
Sustainability reports explain the impact of an organization’s activities on the economy, environment and society. During the novel coronavirus (COVID-19) pandemic, stakeholders continue to expect robust, transparent sustainability reports, with…
AppelrouthMay 19, 2020
The novel coronavirus (COVID-19) crisis has put enormous financial stress on many not-for-profits — whether they’re temporarily shut down or actively fighting the pandemic. If cash flow has dried up,…
AppelrouthMay 14, 2020