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GAO Decides GSA Schedule Labor Category Descriptions Limit Technical Scope of Responsive Proposals
GSA Schedule contractors need to pay careful attention to a recent protest decision issued by the Government Accountability Office (GAO)…
My Customer’s Exempt from Sales Tax, but is my Construction Contract?
Construction contractors in the region face anything but uniformity when it comes to dealing with the rules addressing sales tax…
The FASB Simplifies the Balance Sheet Classification of Deferred Taxes
By: Charles Webb, tax partner On Nov. 20, 2015, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU)…
Comply with SCA or Go to Jail!
Companies doing business with US tax payer dollars need to understand the government regulations governing their government contracts. They need…
Questionable Transactions, What Could It Be and Are They Deductible?
What happens when your prized employee turns out not to be the person you thought they were? During the course of…
UPDATE – DHA Commits to Use GSA Contract Vehicles for its Health Information Technology (HIT) Requirements
UPDATE: Due to the blizzard and recent closures, GSA granted the request for extension for the Health IT SIN RFI originally due…
Chicago Ruling Applies Personal Property Lease Tax to Cloud Services
The City of Chicago has released guidance which clarifies the application of the “nonpossessory computer lease” portion of the City’s…
Leidos to acquire Lockheed Martin’s Information Systems & Global Solutions Business
On January 26, 2016 Lockheed Martin (Lockheed) announced that it has entered into a definitive agreement to separate and combine…
Escaping the Built-In Gains Tax
Are you considering converting your C corporation to an S corporation? If so, being aware of the built-in gains tax…
Business Email Compromise: What It Looks Like and How to Avoid It
By Robert Casey, partner Most people immediately recognize a scam when they get an email from a prince with promises…
New “Consistent Basis” Rule for Estate Assets
What Taxpayers Need to Know About the New “Consistent Basis” Rule for Estate Assets With recent legislation, there is a…
Ignoring Affirmative Action Plan Requirements Can Land You in Court
The Department of Labor’s (DOL) Office of Federal Contract Compliance Programs (OFCCP) filed a lawsuit against federal contractor, Convergys Customer…
PATH Act Makes Permanent Several Popular Provisions which Promote Charitable Giving
On December 18, 2015 the President signed the PATH Act (Protecting Americans from Tax Hikes Act). While generally considered an…
Does Blue Cross Blue Shield Have Too Much in Reserves?
According to the Chronicle of Philanthropy and the Houston Chronicle, Blue Cross and Blue Shield of Texas, whose parent is…
What the PATH Act Means for You
The Protecting Americans from Tax Hikes Act (“The Act”) was signed into law by the President on December 18, 2015. The…
R&D Tax Credit Receives Facelift and is Made Permanent
By Carli McDonald, partner-in-charge of R&D Tax Credit Services On Friday, Dec. 18, 2015, the federal R&D Tax Credit was…
Ready for the “Cadillac Tax”?
With the fickle business environment, businesses must be able to adapt to the various changes that occur in order to…
Six Ways to Simplify Month-End Closing
At a glance The main takeaway: The month-end close process can be a huge strain on accounting and finance departments,…
Commercial Service Spotlight –Going Global Strategically
At a glance: Main takeaway: Are you a small business or startup with plans for global expansion, but not sure…
Updated – Annual FAR Service Contracts Reporting (SCR) Due 12/15/15 – Includes GSA Schedule Holders
Update – Reporting has been extended and GSA has provided a video to show you how to do reporting. One…
Project Management and Accounting – How Are They Related?
The financial success of a construction contractor can depend on a variety of factors including the quality of its product,…
Charitable Donations as a Business Expense
We have all seen various businesses advertise that they will donate a percentage of sales to a particular cause, typically…
Eight Types of Transition Relief from the Affordable Care Act
By Tommy Lee, partner; Anita McBurney, senior manager; and Bob Carreker, senior manager With the advent of the Affordable Care…
Get Ready to Report – 2015 ACA Requirements for Applicable Large Employers
By Tommy Lee, partner; Anita McBurney, senior manager; and Bob Carreker, senior manager The Affordable Care Act (ACA) is officially…
Alabama Sales Tax Regulation Ignores U.S. Supreme Court
A new sales tax regulation in Alabama directly contradicts the bright-line physical presence nexus standard created by the U.S. Supreme…
The Basics of Change Orders and Change Order Management
Change orders can range from simplistic to intricate, can cause disruption or resequencing, and can eat away at profits. In…
ALTA Best Practices: Standards or Guidelines?
By Paul Roberts, director, Title Industry Services ALTA released Version 2.1 of its Best Practices Framework Assessment Procedures in November 2014….
Follow the DCAA Checklist – Get a Passing Grade!
DCAA issued an MRD on August 27, 2015, “Revised Checklist for Determining Adequacy of Contractor Incurred Cost Proposal.” The purpose…
GSA Issues RFI Proposing Changes to the IT70 Solicitation to Foster A Better Federal Marketplace
On September 2, 2015, the General Services Administration (GSA) issued a request for information (RFI) with proposed changes to the…
401(k) Plans: Don’t Overlook Your Company’s Multi-Million Dollar Investment
Even though it is often overlooked by plan sponsors, a 401(k) plan is one of the most important assets to…
Indirect Cost Series: Part Two – Cost Pools and Developing an Indirect Cost Rate
In part one of our indirect costs series, we focused on what indirect costs are and why they are important…
ASU 2015-03 and 2015-15: Simplifying the Presentation of Debt Issuance Costs and the Imputation of Interest
What you need to know in 4 Q&As In April 2015, the Financial Accounting Standards Board (FASB) released Accounting Standards…
Indirect Cost Series: Part One – What Are Indirect Costs?
This is part one of a five-part series on indirect costs. When contractors are accounting for contracts, it’s easy to…
Use QuickBooks-Compatible Apps to Reduce Data Entry
As a small business entrepreneur there is a lot of demand on your time from competing forces, not the least…
Section 338(g) Election for the Acquisition of a Foreign Target Corporation
A Section 338 election has the effect of recharacterizing a taxable stock acquisition as a deemed asset acquisition. The advantage…
The Sourcing Tail Wagging the Nexus Dog
There is a growing list of states that have adopted a more aggressive income tax nexus standard. On August 11,…
Fund Profile: Grotech Ventures Takes a Personal Approach to Investing
By Brett Cloetingh and Melissa Tarkett Grotech Ventures is an established early stage venture capital firm headquartered in Tysons Corner,…
Use DoL Affirmative Action Tool to Test Compliance
OFCCP has posted a new interactive tool that contractors may find useful. The Checklist for Compliance with Section 503 of…
Your Cloud Migration Could Actually Save You Money
By Carli McDonald, partner-in-charge of R&D Tax Credit Services Are you in “the cloud” or considering moving a portion of…
State Your Own Tax Credit Amount: California Competes Tax Credit
California has established an incentive called the California Competes Tax Credit that can be awarded to businesses creating new jobs…
What is a ‘Standard Audit Opinion?’
The standard opinion for audits of financial statements conducted in accordance with “auditing standards generally accepted in the United States”…
Wouldn’t It Be Great If Your Customers Paid You Faster?
By Mitchell Kopelman, partner-in-charge of Tax As a small business owner, do you worry about your cash flow? Small businesses…
The Impact of the Internet of Things on Manufacturing
By Adam Beckerman, partner-in-charge of Manufacturing and Distribution, and David Siegel, assurance senior manager Imagine a world in which industrial…
Disguised Payments Defined as Proposed Regulations Issued
By Jeff Winland, tax partner Current partnership law allows for many contributions and distributions of cash between a partnership and…
IRS Regulation Brings Clarity to Apportioning Income for Partnerships with Changing Interests
By Jeff Winland, tax partner, and Tage Kelkar, tax associate The IRS has recently released a new set of regulations,…
IRS Declares No Statute of Limitations on Tax Shelters
By Jeff Winland, tax partner The Chief Counsel of the IRS in a very recent Advice, (CCA) #201531019, has concluded…