Sage Intacct is built to anticipate the needs of its users and organizations. Intacct applies a series of modular controls delivering a busines spend management solution that enables users to be proactive in understanding costs, applying automation policies, and digging deeper into reporting elements that can create opportunities for new spend management activities. System Controls…
Share Updated as of 02-02-2021: New York has updated their Frequently Asked Questions to clarify their guidance regarding New York State’s conformity to Federal treatment of the PPP to include corporations as well. On January 13, 2021, New York has issued formal guidance on their website in regards to the state’s treatment of the Paycheck…
Share The IRS issued final regulations under IRC Section 1061 on January 7, 2021 with some notable updates made in response to comments from the proposed regulations published on August 14, 2020. IRC Section 1061 was added to the tax code under the 2017 Tax Cuts and Jobs Act. The statute refers to partnership interests…
As 2020 thankfully stumbled to a close, the most substantial and potentially costly U.S. cyberattack campaign to ever strike the nation’s targets (both government and private industry) was being detected. The attack was operating covertly within network monitoring utilities for approximately nine months prior to its detection. This article is the first of two-part series…
Share Withum, leading advisory and accounting firm, held its annual State of the Firm event on January 11, albeit virtually. The Firm also unveiled their annual culture video with a fitting message for the times – Stay Connected. This latest edition highlights Withum team members continuing to embrace the family spirit despite remote working environments…
Share Withum is proud to announce that TJ Houmes has been honored among the winners of the Florida Institute of CPAs’ (FICPA) Horizon Awards, recognizing young certified public accountants (CPAs) at the forefront of the profession. Through service to the FICPA and our industry, TJ is advancing the CPA profession and working to better his…
Share In response to the passage of the Consolidated Appropriations Act, 2021 (CAA), the SBA on January 6, 2021, released an 82-page interim final rule (IFR) that consolidates the prior guidance applicable to PPP1 (i.e., the original PPP loan program that opened up on April 3, 2020 in response to the CARES Act). This IFR…
Share The annual list of America’s Best Tax and Accounting Firms is a high honor awarded by Forbes and Statista Inc., the world-leading statistics portal and industry ranking provider. Awarded for Tax, Withum is proud to receive such prestigious recognition. The Firm’s Tax Services Group is a brilliant team of specialists who work tirelessly to…
Share On January 6, 2021, the IRS issued a revenue ruling that officially obsoletes (i.e., withdraws) its prior Notice and Revenue Ruling that disallowed deductions for expenses relating to loan forgiveness under a paycheck protection program (PPP) loan. In Rev. Rul. 2021-2, the IRS acknowledged the passage of the Consolidated Appropriations Act, 2021 and the…
Share Currently making a list and checking it twice? Add these three year-end planning to-do’s to your checklist to make sure you are maximizing your planning and financial goals and optimizing your tax savings. Planning Tip 1 Review your Will to make sure it is up to date and, more importantly, still reflects your goals…