Posts by Aprio Publisher
Governor Signs Two Significant Bills Affecting Businesses
At a glance Main takeaway: Earlier this week, Governor Newsom signed two significant bills that business should understand, SB 113 and SB 114. Impact on your business: SB 113 may have significant positive impact on your business finances, while SB 114 may positively impact some personal finances while adding a cost to your business. Next steps: Contact Aprio’s…
Read MoreIRS Provides Procedural Guidance for Employment Tax Determinations Under IRC Section 7436
Last month, we published the blog post, “Worker Classification and the Gig Economy,” which discussed the growing expansion of the gig economy and factors the Internal Revenue Service (IRS) may rely on to determine whether a gig worker is a true independent contractor or an employee. The distinction between the two can lead to a…
Read MoreRecommendations on Long-Term Incentive Stock Compensation
Long-Term Incentive Plan Characteristics Assessment FAR 31.205-6(f)(1) Bonuses and Incentive Compensation Bonuses and Incentive compensation are allowable provided the: Compensation Cap Reasonableness Employee Stock Purchase Plan Assessment Stock Options Assessment Recommendations Performance Stock Units (PSU) Assessment Recommendations Aprio’s Overall Recommendations Got questions? Connect with an experienced Aprio advisor today. Schedule a Consultation
Read MoreBank Benchmarking Helped Two Global Restaurant Brands Reduce Service Fees by 20%
At a glance Schedule a consultation with our team today. The full story: Most finance leaders grumble about banking and service fees, but often overlook the reduction of those fees as a viable source of cash. They are simply too busy to chase these dollars. They don’t understand the process and often fear damaging their…
Read MoreVirginia Disallows Credit for Pass-through Entity Taxes, While General Assembly Proposes SALT Cap Workaround
The Virginia Department of Taxation has issued a ruling addressing whether resident individuals can claim a credit for taxes paid for their portion of a pass-through entity (PTE) tax paid by a PTE from which they receive a distributive share of income. Over the last three years, over 20 states have enacted PTE taxes that…
Read MoreNew FinCEN Beneficial Ownership Information Reporting Requirement under Corporate Transparency Act
The Corporate Transparency Act (“CTA”) is a new U.S. federal law that was enacted in 2020. The CTA provides certain beneficial ownership information reporting requirements. On December 7, 2021, the Financial Crimes Enforcement Network (“FinCEN”) announced in a press release that it has issued proposed regulations with information and guidelines for the implementation of the…
Read MoreGSA Multiple Award Schedule 101
Doing business with the Federal Government is an attractive proposition. As the world’s largest buyer and marketplace, government contracts can present your business with tremendous opportunities for growth. The process is not easy though. The Federal Government has painstakingly designed a maze of rules, regulations, and requirements. These rules make the Federal procurement process fair…
Read MoreDay Trader – Mark-to-Market Election Deadline
As the year comes to a close, day traders with net losses may wish they had made a mark-to-market election. This election, under IRC 475(f), permits a taxpayer to treat trading losses as ordinary, with the benefit of being able to deduct them in full. The capital loss limitation and wash sale rules do not…
Read MoreNew Calculation Method for Small Business Size Standards
The US Small Business Administration (SBA) announced that it is altering the method for calculating average annual receipts, which are used in determining size standards for small businesses. This change comes as part of the SBA’s efforts to create consistency among all small business size standards. Effective on January 6, 2020, the rule will change…
Read MoreWhat is Qualified Improvement Property & How You Can Benefit From It
At a glance Schedule a consultation with Aprio today The full story: Are you a real estate developer working on renovating one of your existing buildings? You may be eligible to receive a tax benefit due to the qualified improvement property (QIP) provision. Below we will try to answer your question “What is qualified improvement…
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