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Payroll Tax Deferral – Updates Based on Current Guidance

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On August 28, 2020, the Department of Treasury and Internal Revenue Service issued much awaited guidance regarding the Presidential Executive Order, effective on September 1, 2020, allowing for the deferral of withholding and payment of the employee’s portion of the Social Security tax.

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What Local Governments Should Know About Reporting CARES Act Funds

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For many entities, the Coronavirus Relief Fund (CRF) has provided much-needed economic relief—or at least a bridge to next year’s budget. At the same time, however, the fund has also created a significant amount of confusion. Here’s what all Minnesota local governments should know about this MMB reporting requirement.

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How Will COVID-19 Impact Your Organization’s 2021 Budget?

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In the midst of the recent challenges, budgeting season looms, bringing with it a difficult question: How will COVID-19 impact your organization’s 2021 budget? Here are a few steps you can take to begin formulating an answer.

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Abdo, Eick & Meyers, LLP Adds Sage Intacct Cloud Financial Management Software to Its Portfolio

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Abdo, Eick & Meyers is adding Sage Intacct to its portfolio in response to increased demand for Software as a Service (SaaS) business solutions from its prospects and clients. As part of this new relationship, Abdo, Eick & Meyers will sell, implement, support, and develop enhancements for Sage Intacct, an award-winning cloud financial system.

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Updated Payroll Forms & Processes

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In the workplace, the various stimulus packages, sick leave provisions, and other economic and governmental programs brought about by the pandemic have created a need for additional documentation and disclosures on certain payroll tax filings and forms. Learn about the resources you’ll need to ensure compliance and proper documentation based on IRS guidance.

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R&D Tax Credit: A Possible Solution for Increasing Cash Flow

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Many businesses are grappling with uncertainty amidst the pandemic. Many are wondering how they can hit pre-pandemic revenue levels and generate cash flow. For some businesses, the research and development (R&D) tax credit could be part of the solution.

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How Updated Bonus Depreciation Rules Could Impact Your Manufacturing Business

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One of the benefits of the Tax Cuts and Jobs Act (TCJA) was the extension of the 100% bonus depreciation rules. The updated rules excluded qualified improvement property from accelerated depreciation, essentially shutting businesses out of the benefit. Then came an unexpected silver lining.

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Why Welcoming Key Managers into Your Ownership Team Could Make Sense Right Now

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Your key managers are the people who keep your business afloat. They may also be the people to whom you plan to transition your business. If this is true for you, now could be an ideal time to act. Here are a few things to consider if you plan to explore this opportunity.

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Returning to Work: OSHA Guidance for Employers

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Does your organization have a re-opening plan in place? The Occupational Safety and Health Administration (OSHA) has issued guidance for reopening businesses that recommends each establishment conduct a hazard assessment for all jobs.

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Planning to Transition Your Business to Your Kids? Believe It or Not—Now May Be the Time to Act

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For business owners, the economic downturn caused by COVID-19 could present valuable opportunities for business succession, particularly for family businesses. If you’re a family business owner who intends to gift shares of your business to the next generation as part of your estate plan, now may be the time to act.

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