For information regarding what you should be doing to respond to COVID-19 in your home or workplace, please refer to the government websites that are updated regularly. It’s essential to focus on reliable and trustworthy information.https://www.health.gov.au/news/health-alerts/novel-coronavirus-2019-ncov-health-alerthttps://www.health.gov.au/resources/collections/novel-coronavirus-2019-ncov-resources In these uncertain and unprecedented times, being a small business owner is very stressful. We’re so proud of our […]
Archives for April 2020
FASB to discuss effective date deferral requests in response to pandemic
In response to the coronavirus pandemic, FASB will discuss at its April 8 meeting effective date deferral requests for significant accounting standards that are not yet effective. FASB said in a news release issued Wednesday evening that it shares global concerns about the impact of the coronavirus and is committed to supporting and assisting its […]
God goes online as places of worship shut doors to save people
The muezzin calls out the faithful to prayer five times a day. But nobody comes to the mosque. These days, devotees spread out janamaz in the confines of their homes to pray. This, perhaps, is happening for the first time in 1391 years of Cheraman Juma Masjid in Kerala, where an azaan has not beckoned […]
Mounting orders and staff crunch stretch online grocers
Illustration: Rahul Awasthi Online grocers BigBasket and Grofers may be working hard to deliver essentials, but a lack of delivery slots will remain for the next week or two as these e-tailers witness heavy demand from consumers following the ongoing 21-day nationwide lockdown due to the Covid-19 virus outbreak. Both companies have seen demand for […]
Should your clients stop contributing to their 401(k) in a crisis?
Welcome to Retirement Scan, our daily roundup of retirement news your clients may be talking about Should your clients stop contributing to their 401(k) in a crisis?Working clients are advised to continue making contributions to their 401(k)s amid the market slowdown caused by the coronavirus pandemic, according to this article in Motley Fool. That’s because […]
Coronavirus Triggers Special Session for Accounting Rulemaker – Bloomberg Tax
The U.S. accounting rulemaker plans to meet April 8 to discuss pressing accounting questions related to the new coronavirus pandemic. The Financial Accounting Standards Board didn’t mention the current expected credit losses (CECL) accounting standard by name in its announcement Monday evening. But the sudden intervention of Congress into the biggest change to bank accounting […]
Employer tax credits form, employee retention credit guidance posted
The IRS on Tuesday issued a new form and instructions for employers to use to obtain advance payments of three tax credits that were created to help businesses cope with the coronavirus pandemic. Employers may file new Form 7200, Advance Payment of Employer Credits Due to COVID-19, to obtain advances of employment taxes that are […]
Webcast: Understanding Market Implications and Bringing Calm Amid Chaos
9 months ago · 1 hour 27 min watch SECTION EXCLUSIVE Help clients stay calm in volatile times COVID-19 is creating significant change in the world and navigating through health concerns, economic uncertainty, and market turbulence is no easy feat. If you are human, you have likely felt some apprehension through it all. A panel […]
UK SMEs on brink of collapse despite CBILS
Businesses will face liquidity pressures and banks may remain reluctant to offer loans, as questions are raised over the Coronavirus Business Interruption Loan scheme (CBILS). “The focus of the discussions we’ve been having with clients has been very much on the Coronavirus Job Retention Scheme, where the worry is that it is still not paying […]
IRS waives failure-to-deposit penalties during pandemic
To allow employers to take immediate advantage of various credits enacted in response to the COVID-19 pandemic and to ease employers’ cash flow, the IRS is permitting eligible employers who pay qualifying wages to retain an amount of the payroll taxes equal to the amount of qualifying wages that they paid, rather than deposit them […]