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All About Government Contractors (3)

Your Business May Need to Comply With New Corporate Transparency Act

There’s a new law that should be on the radar screen of most small- and medium-sized business owners. The Corporate Transparency Act (CTA), passed in 2021, will require many businesses to take action in 2024. Now is the time for business owners to be...
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Tax Credits for New Electric Vehicles Purchased In 2023

If you’re one of the half million Americans who purchased an electric vehicle so far in 2023, you might be eligible for a tax credit.
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FASB Issues Guidance On How to Account for Related Party Leases

There’s new guidance for businesses and nonprofits that are subject to the relatively new lease accounting standard.
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Beware of Employee Retention Credit Scams

If advertisements about the Employee Retention Credit (ERC) have grabbed your attention, you’re not alone. Scammers have jumped on the opportunity to convince business owners to claim this potentially lucrative tax credit. Here’s what you need to know...
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New Cyber Security Regulations Issued By Veterans Affairs

Government contractors who do business with the Veterans Affairs Administration (VA) will soon have a great deal of increased cyber security and data privacy responsibilities after the VA recently updated cyber security compliance regulations. These new...
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QuickBooks Desktop 2020 to be Discontinued

Intuit recently announced that it will discontinue service for QuickBooks Desktop 2020 as of May 31, 2023. If you use QuickBooks Desktop 2020, you have some decisions to make. Let’s look at how this will impact your business and what your options are as...
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