Insight Tag: Business Advice
Jun 22, 2022
Depreciation Recapture: Paying the Piper When a Depreciated Property is Sold
When a property owner sells an asset that previously was used to offset ordinary income through depreciation, the gain is taxed through depreciation recapture.
May 11, 2022
Confronting The National Labor Shortage
We’ve all seen the recent unemployment numbers and heard employment projections from top officials. The struggle to identify, hire, and retain employees at all levels of the organization is very, very real, and it’s causing major issues for businesses. The labor shortage is not isolated to the State of Ohio – it’s happening everywhere and it’s affecting companies across all industries.
May 10, 2022
Lease Accounting Standard: The Time is Now
The multi-year delays in implementation of the new lease accounting standard are over and now it’s go time. This is it, and if your company or nonprofit has not yet started gathering the information necessary to properly report its lease obligations for 2022, there is no more time to waste.
Apr 4, 2022
The Effects of COVID-19 on Government: A Path Forward
In this article, we will examine the issues governments still face and will focus on the opportunities as we look to emerge from the COVID-19 pandemic.
Jun 20, 2022
Restaurants Order Up Actionable Financial Data with Outsourced Accounting
Outsourcing of accounting and bookkeeping support services is an increasing trend among many businesses and is growing quickly in the restaurant industry. It’s a solution that addresses a confluence of factors affecting restaurants these days, especially restaurant businesses that are smaller and mid-sized operations.
Jan 11, 2022
Late Notice From The IRS Or DOL? Read Before You Act
f you get a late notice from the IRS related to your Form 5500, but you filed on time, don’t panic. Simply let us know and we’ll advise you of next steps to clear things up with the IRS.
Nov 30, 2021
Top 5 Tips To Help You Prepare For New Lease Accounting Standards
For those of you who were hoping against hope that the Financial Accounting Standards Board (FASB) would further delay the new lease standard for private companies, I’m afraid you’ll be disappointed. The Pennsylvania Institute of CPAs was looking for a two-year delay for the adoption date, but the FASB turned that request down in November.