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All About Government Contractors (6)

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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What Accounting Staff Need to Know About the New Lease Standard

The new lease accounting standard, Accounting Standards Codification (ASC) 842, is out in full force and there are numerous rules, adjustments and transitions accounting departments need to be made aware of—stat.
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