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ASC Topic 842 & Government Contracting

By Jeremy Higginson, CPA Government contractors breathed a collective sigh of relief when the Financial Accounting Standards Board (FASB) pushed back the deadline for private companies and nonprofits to comply with new lease accounting rules in April 2020. Accounting Standards Codification (ASC) Topic 842, also known as Accounting Standards Update (ASU) 2016-02, Leases is now applicable for the fiscal year and interim periods beginning after Dec. 15, 2021. Topic 842 applies to both...

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Transform Your Talent Pool With 9 Recruiting Strategies You Need To Adopt or Drop

Talent acquisition is the heartbeat and foundation of any organization, says Wiss’ Practice Leader of Recruiting Kevin Kurtz. Plus, its long-term success and sustainability is directly correlated to its talent.  Yet this is a ball many companies fumble, as attracting, developing, and retaining talent continues to be one of the biggest challenges organizations face.  That’s why recruitment and acquisition will always be a hot topic — one social media only continues to amplify. On...

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Mandatory Capitalization Of R&E Expenses – The Impact On Technology Companies

Featuring Frank Calabrese, CPA Businesses that invest in research and development, particularly those in the technology industry, should be aware of a major change to the tax treatment of research and experimental (R&E) expenses. Under the 2017 Tax Cuts and Jobs Act (TCJA), R&E expenditures incurred or paid for tax years beginning after December 31, 2021, will no longer be immediately deductible for tax purposes. Instead, businesses are now required to capitalize and amortize...

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Remote Employment 101: A Successful Compliance Structure

by Lisa Calick, Director of HR Advisory The number of remote workers has increased, and companies are going outside of normal state boundaries to find top talent. These quick changes have spotlighted the issues surrounding this employment relationship over the past two years. Throughout this series, we have highlighted some considerations that every business owner should pay attention to with remote employment. This final blog covers important compliance areas that should not be...

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Remote Employment 101: Navigating Leave Laws

by Lisa Calick, Director of HR Advisory Employees often need to take time off from work for a variety of reasons.  Not many laws at the federal level provide employees with protected time away from work, however there are a number of states and localities with laws in place that provide employees with protected leave rights. Leave entitlements vary depending on factors such as the number of employees, the length of time needed, and qualifying reasons for the leave, however all of...

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Environmental Social Governance: What’s Trending in 2022

2021 proved to be an unprecedented year on many fronts, not the least of which was the explosion of ESG, in both urgency and visibility. Companies face changing expectations, not only from investors and regulators but from customers, employees and lenders, who are demanding greater accountability and transparency around ESG factors. The big question now is whether that momentum will continue. ESG remains a growing force and continues to be further embedded into both regulatory and...

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Interim IRS Guidance on Research Credit Refund Claims

By Frank Calabrese, Senior Tax Manager The IRS has released two pieces of interim guidance on its revised administrative policy regarding valid research credit refund claims, as originally announced on October 15, 2021. On January 3, 2022, the IRS issued procedural guidance for applying the revised administrative policy and, on January 5, the IRS published a corresponding set of frequently asked questions (FAQs) on the policy. Both the procedural guidance and the FAQs are effective...

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How To Distribute Authorized Stock to Startup Stakeholders

It’s not often that you hear entrepreneurs tell the truth about what it takes to get a startup rolling, especially about the nitty-gritty details of how to authorize shares of stock. In this article, we’re taking away the mystery of share distribution. If you’ve already decided to set up a C corporation and learned about initial valuation, the next step is to figure out how to split shares of the company fairly amongst stakeholders — and wrestle with the math behind those decisions. Determining...

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U.S. Supreme Court Halts Private Employer Vaccine Mandate

By Lisa Calick, Director, HR Advisory The U.S. Supreme Court has halted enforcement of the Biden Administration’s vaccine mandate, citing that the Occupational Safety and Health Administration (OSHA) overstepped its authority. This mandate would have required private employers with 100 or more employees to ensure that their workers are vaccinated or adhere to weekly testing if unvaccinated. In doing so, the case returns to the 6th U.S. Circuit Court of Appeals for consideration. The...

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