Retailers, restaurants, and even e-commerce businesses provide gift cards as a way to expand their customer base and build brand loyalty. Those gift cards are used to redeem meals, merchandise, and services across a wide range of industries. Gift cards continue to be a significant source of revenue for many businesses. In fact, nearly 60%…
Withum is proud to share that Disability:IN, a global organization driving disability inclusion and equality in business, in partnership with the American Association of People with Disabilities (AAPD), awarded Withum a score of 100 on their annual index for the second year in a row. The Disability Equality Index® (DEI) is the world’s most comprehensive…
Here we are; the PPP loan has come and gone. Are you one of the firms dealing with the repercussions of receiving PPP loan forgiveness? Hopefully, you properly accounted for PPP loan forgiveness in preparing your indirect cost rate. Otherwise, you will likely be hearing from your state department of transportation or other cognizant agency….
Tracking down corporate credit card transactions and reconciling at month-end in an Excel spreadsheet is a thing of the past. When it comes to credit card use and your organization, Sage Intacct has you covered. Sage Intacct defines credit card accounts and includes credit and debit cards. In Accounts Payable, there is a distinct difference…
Originally published in November 2022 Lease accounting for lessees has been a hot and widely discussed topic for several years and the new standard under generally accepted accounting principles (“GAAP”), Accounting Standards Codification (“ASC”) 842, Leases, became effective for private companies with fiscal years beginning January 1, 2022, and later. The relative lack of buzz…
New Jersey Gov. Phil Murphy signed into law A5323 on July 3, 2023, which includes wide-ranging provisions that will considerably impact businesses. The legislation includes significant changes to the state’s Business Tax reform that was originally enacted in 2018, which brought about unitary-combined filing and market-based sourcing for corporations beginning in 2019. One of the…
You’re a private rental real estate entity. You may own one building and have two investors or hundreds of buildings with a hundred investing partners. The buildings you own may be commercial, residential, or both. Whatever the case may be, you may need an audit of your financial statements. This could be by the request…
When it comes to financial technology (Fintech) companies and BSA/AML (Bank Secrecy Act/Anti-Money Laundering) considerations, there are many key points to understand relating to the overlap between the two from a risk perspective, as well as system processes and cybersecurity concerns. In this article, we examine some FAQs that outline what a fintech company should…
Withum is proud to share that Stephanie Mansour was honored by Providence Business News on its 2023 40 Under 40 List. A leader in the Firm’s Providence, RI, office, Stephanie is a Senior Manager of audit and accounting, specializing in not-for-profit, manufacturing and distribution, healthcare, and employee benefit plans. She has a talent for strategic…
Withum is proud to share that four partners, including Managing Partner and CEO Pat Walsh, were named to the 2023 Edition of NJBIZ’s Accounting Power 50 List. In the Number 7 spot, Pat Walsh is praised for his experience and seamless transition to CEO earlier this year. The publication also noted his extensive philanthropic initiatives,…