Nonprofit Organizations: Accounting for Interest-Free Loans

This blog and referenced guidance is not applicable to loans obtained under the Payroll Protection Program (PPP). Nonprofit organizations often receive loans that are interest free. Because these are not normally obtainable through traditional financing options, the American Institute of Certified Public Accountants (AICPA) believes a restricted contribution element should be recognized to reflect the…

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Expressly Unallowable Cost Matrix

unallowable costs

“It doesn’t hurt to ask; the worst they can say is ‘no.’” Most of us have been told that or said that many times. While that philosophy works in some circumstances, it is quite risky in the context of government contracting. This is because when a contractor claims an “expressly unallowable cost,” the government can…

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COVID-19: State and Local Tax Implications – Parts 2 and 3: Nexus/Withholding and CARES Act Guidance

It has been almost a month since our original article on the SALT implications of COVID-19 was published on our Aprio’s COVID-19 Advisor site.  That article addressed several high-level SALT considerations and how they may be impacted by the effects of COVID-19 on businesses and their operations.  Those topics included state tax filing and payment…

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Montgomery County, Maryland PHEG Program: $20 Million Fund for Local Businesses, Nonprofits, Retail, and Restaurants

On March 31, 2020, Montgomery County, Maryland passed the Public Health Emergency Grant Program. The program entails the following: Public Health Emergency Grant Program: UPDATE: “On April 21st 2020, Montgomery County Council approved $5 Million in additional financial assistance to local restaurants and small retail shops. This is in addition to the $5 Million allocated…

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Effective Cash Management For Construction Contractors In Good & Challenging Times

Cash management is one of the most important aspects of effective financial control for construction contractors, yet it is often one of the most neglected. Given the heightened importance of cash flow during uncertain economic times brought about by the current health pandemic, construction industry contractors should develop or modify their cash management plans as…

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