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
COVID-19 Resources
We hope you and your family are well and safe. Just as all aspects of our daily lives are constantly changing by the ongoing COVID-10 pandemic, so to is the guidance issued by the IRS in its attempts to assist affected taxpayers. Our team is monitoring the latest developments and breaking news to keep you informed and we will update the information listed here as it becomes available. We are in this together and we are here to help you.
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
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
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
Thanks to affordable technology, more and more companies have been allowing employees to work remotely in recent years. It’s become feasible to procure laptops, set up security protocols, use cloud…
AppelrouthMay 14, 2020
In light of the novel coronavirus (COVID-19) pandemic, many businesses are interested in donating to charity. In order to incentivize charitable giving, the Coronavirus Aid, Relief and Economic Security (CARES)…
AppelrouthMay 12, 2020
Imagine this scenario: A company’s controller is hospitalized for the novel coronavirus (COVID-19), and she’s the only person inside the company who knows how its accounting and payroll software works.…
AppelrouthMay 11, 2020
Many small businesses continue to struggle in the wake of the coronavirus (COVID-19) pandemic. Some have already closed their doors and are liquidating assets. Others, however, may have a relatively…
AppelrouthMay 7, 2020
Limited staff and financial resources during the novel coronavirus (COVID-19) pandemic may have your not-for-profit looking for new ways to achieve your mission. Partnering with a like-minded organization potentially enables…
AppelrouthMay 7, 2020
As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. But you should be careful that these workers are properly classified…
AppelrouthMay 4, 2020
The Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law on March 27, 2020, contains several tax-related provisions for businesses hit by the novel coronavirus (COVID-19) crisis. Those…
AppelrouthMay 4, 2020
As businesses across the country grapple with the economic fallout from the novel coronavirus (COVID-19) pandemic, many must decide whether to downsize their workforces to lower payroll costs and stabilize…
AppelrouthMay 4, 2020
The IRS recently issued Notice 2020-23, expanding on previously issued guidance extending certain tax filing and payment deadlines in response to the novel coronavirus (COVID-19) crisis. This guidance applies to…
AppelrouthApril 23, 2020
Although most not-for-profits have been hurt by the coronavirus (COVID-19) pandemic, your organization’s specific challenges probably depend on your mission, constituency and other factors. For example, social distancing rules have…
AppelrouthApril 20, 2020
The U.S. Department of the Treasury and IRS will launch the “Get My Payment” web application next week. The FREE app—which will be found at IRS.gov—will allow taxpayers who filed their…
AppelrouthApril 11, 2020
We want to inform you of the Federally Guaranteed Forgivable Business Loan Program under the Paycheck Protection Program that is included in the Coronavirus Aid, Relief, and Economic Security Act ("CARES…
AppelrouthMarch 28, 2020