The PPP Flexibility Act passed both the House and the Senate Wednesday and is expected to be signed by the President Thursday. The Act provides additional relief to business that may not have qualified for full forgiveness under the current law. Here is a summary of the changes to PPP loan forgiveness. Extension of 2-year repayment period to 5 years. PPP loans[…]
PPP Flexibility Act – Congress Passes Changes to PPP Loan Forgiveness
By diamondcpas Business Accounting Jun 04, 2020
So, you’ve considered the market and the time feels right to sell your business. It’s a big decision that requires a number of serious considerations to ensure you not only get the best price, but also get through the highly detailed process as smoothly as possible. One of the very first things you’ll want to[…]
So, you’ve considered the market and the time feels right to sell your business. It’s a big decision that requires a number of serious considerations to ensure you not only get the best price, but also get through the highly detailed process as smoothly as possible. One of the very first things you’ll want to[…]
For small business owners, planning for succession of the business is often overlooked. Whether it’s simply an oversight or being too busy to seriously consider how the business will continue upon your retirement or a more unexpected life experience, planning for who will take over will help ensure that people you choose will assume ownership[…]
In an effort to delay the implementation date of four key accounting standards financial services experts use for certain groups, the Financial Accounting Standards Board (FASB) said it plans to propose postponing the effective dates. The new standards would change the way certain items have to be reported on financial statements. Some of the changes[…]
Since the passing of the Tax Cuts and Job Act in 2017 the consequences of how a business structures itself is more important than ever. Tax considerations play a key role in determining whether your business is better suited to be a C Corporation or an S Corporation (pass-through entity), say tax advisors. The new[…]
Let’s say you operate as a sole proprietor or a partnership with husband/wife owners. Your children are old enough to be useful and you’re thinking of hiring them. Is hiring your kids a good idea? There are pros and cons to consider. Pros One advantage is that you avoid the time and expense of the[…]
Which QuickBooks Version is Best for Small Businesses?
By diamondcpas Business Accounting May 14, 2018
For most small businesses, QuickBooks, from Intuit Inc., is the accounting software of choice. In addition to basic bookkeeping it is used to manage customers, vendors, inventory, expenses, and more. Intuit offers 3 on-line version as well as multiple desktop versions (3 for windows based computers and one for Apple computers). Which one is best[…]
No matter what you are selling, you always want to get the best possible price for your offering. So, you put in a little extra effort and prep work. If you are selling a car, you’ll wash, clean, and vacuum it. If you’re selling a house, you’ll put on a fresh coat of paint. If[…]
The TV series CSI popularized the field of forensics. CSI made the use of science in criminal investigations seem exciting, maybe even a little glamorous. While nobody is rushing out to make a TV show about forensic accounting (yet), the field is no less interesting. Forensic accounting sits at the intersection of business, finance, auditing,[…]
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