Economy

With only a few days to go before the end of a difficult year, some accountants and tax professionals are still hoping to finish up some perplexing issues for their clients before New Year’s Day.

Most accountants who help clients with the choice of entity focus on the tax aspects. But in order to help clients make fully informed decisions, “personal” asset protection should be considered.

Small business owners who got Paycheck Protection Program loans could qualify for big write-offs from their rescue money, amounting to what Treasury Secretary Steven Mnuchin has called a tax-break “double dip.”

The change would make it easier for private companies and nonprofit organizations to evaluate a goodwill triggering event.

Annual meeting minutes are an important business compliance requirement, helping to keep a company in good standing with the state and maintain its protective corporate veil.

Lawmakers are seeking to address some of the PPP’s more obvious failings in the latest coronavirus bill.

The practice is helping clients deal with streamlining operations, reducing unnecessary expenditures and improving their profitability and cash flow.

The provider of payroll, benefits and HR technology for small businesses is making a push to sign up more accounting firms as partners.

The American Institute of CPAs has joined with over 560 business and trade organizations in urging Congress to pass legislation.

There are signs of a slowdown in the economy as businesses continue to struggle with rising COVID-19 infections across the country.