Accounting firms across the nation are knee-deep in tax season, but now, they are also knee-deep in a crisis no one could have predicted: the coronavirus pandemic. As the severity of the disease and its spread became clearer over the past week, many national firms have quickly put together plans for their staff to telecommute, […]
What to do if staff can’t make it to the office
A break in the clouds As illustrated by Bourke’s comfy perch on the porch, businesses that have already migrated to the cloud are in the best position to handle increased demand for remote work. That’s because cloud applications and infrastructure provide much more scalability and accessibility than servers and software housed in the office, said […]
Local accounting firm introduces two new partners | Community – Southernminn.com
BLOOMING PRAIRIE — Johnson, Doerhoefer & Miner PA is proud to announce the addition of two new partners – Allison Andrist, CPA, of Owatonna, Minnesota, and Lori Arndt, CPA, of Blooming Prairie, Minnesota. They will join current partners, Amy Doerhoefer and Daniel Miner. Allison currently works in the Owatonna office located at the Bridge Street […]
FASB provides accounting relief for LIBOR transition – Journal of Accountancy
FASB issued a standard Thursday that is designed to give financial statement preparers relief as they make the transition away from the London Interbank Offered Rate (LIBOR) and other similar rates that are being discontinued. LIBOR and other interbank offered rates are widely used as benchmarks or reference rates in loans, derivatives, and other financial […]
FASB provides accounting relief for LIBOR transition
FASB issued a standard Thursday that is designed to give financial statement preparers relief as they make the transition away from the London Interbank Offered Rate (LIBOR) and other similar rates that are being discontinued. LIBOR and other interbank offered rates are widely used as benchmarks or reference rates in loans, derivatives, and other financial […]
SEC exempts certain companies from ICFR attestation requirement
Smaller reporting companies with less than $100 million in revenue will no longer be required to obtain a separate attestation of their internal control over financial reporting (ICFR) from an outside auditor under amendments adopted Thursday by the SEC. Under the amendments, these companies will continue to be required to establish and maintain effective ICFR. […]
PCS Launching Next Cohort of Accounting Course! – Yeshiva World News
Accounting: Is a Master’s Degree worth It? Q and A with Neal Granick, alumna, and Tax Manager at Deloitte Q: Tell us about your current position. A: I am a tax manager for Deloitte in the Parsippany office; I’ve been here for six years. I started with individual tax returns. I currently do real estate and […]
Calling All Corporations! What Is Form 1120?
As a business owner, you have so many responsibilities, yet so little time. You need to handle your business’s books, manage day-to-day business operations, and keep your business on track for success. In addition to your countless other tasks, you need to file a small business tax return. If you’re a corporation (or file as […]
High-deductible health plans can cover coronavirus testing, treatment
To respond to the public health emergency posed by COVID-19, the IRS announced that a high-deductible health plan (HDHP) will still qualify as an HDHP even if it provides payment for medical care services and items purchased related to testing for and treatment of COVID-19 before satisfying the applicable minimum deductible that normally applies to […]
Calming clients’ fears during the coronavirus outbreak
In February, Dave Stolz, CPA/PFS, was able to tell a delighted client that she had sufficient investment resources to retire. Two weeks later, the global stock markets began a roller-coaster ride that continues to this day, ravaging many retirement and other investment accounts. Stolz, however, was able to reassure his retiring client that nothing had […]