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Luxury Car Rules: ‘How to Avoid Indulging in Luxury Car Limitations’
In the market for a new car and hoping to kill two birds with one stone? Taking the time to…
Leverage Your Data to Manufacture Profitable Growth
Make better use of the data you already have to make better decisions by implementing these three easy enhancements. Data….
Corporation May Not Deduct Matching Contributions to its PAC
In a recent private letter ruling LTR 201616002, the IRS responded to a request for ruling as to whether contributions…
From the GSA Trenches: Don’t Overlook Compliance with the FAR 51 Deviation
At a recent Contractor Assessment, a few of the compliance errors pertained to the Federal Acquisition Regulation (FAR) Part 51…
M&A Tax Shop Talk – “F reorganization” Part II
Still thinking about selling your business? Do you have the proper techniques and structures in place? Generally, one of the…
Purchasing Meals as a Tax Exempt Entity in VA, What you Need to Know
Virginia Changes Sales Tax Policy on Meals Purchased by Tax Exempt Entities – Effective as of April 22, 2016, a change…
Understanding Variable Consideration and The Time Value of Money
Understanding variable consideration and the time value of money
M&A Tax Shop Talk – “F reorganization”
The “F reorganization” has become the tax planning structuring technique of choice in today’s middle market M&A world. So, what…
Handling Deferred Revenue When Selling Your Business
One of the most complicated tax accounting items to handle in the context of an M&A transaction is deferred revenue….
How State and Local Governments Can Order From GSA Schedules
One common misconception about the GSA Schedules is that only federal agencies are allowed to purchase from them. This mistake…
From the GSA Trenches: So You’re Having a Contractor Assessment
It’s that time again. Your GSA Industrial Operations Analyst (IOA) has contacted you for an “assessment of your GSA contract.”…
GSA is Making It Easier with the IT70 Startup Springboard Initiative
GSA is making changes to its IT70 GSA schedule guidelines that ease requirements regarding corporate experience, relevant projects and submission…
Proposed Changes to Pension and Other Post Retirement Benefits Disclosure Requirements
On January 26, 2016, the Financial Accounting Standards Board issued two new proposed Accounting Standards Updates in an effort to…
Service Contract Labor Standards: Basics and Pricing Implications
Service Contract Labor Standards, formerly known as The Service Contract Act (SCA) of 1965, sets minimum wage and fringe benefit…
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…