FASB Votes to Extend Effective Dates of Revenue/Lease Standards
The FASB recently voted in favor to defer the effective date for leases (ASC 842) and revenue from contacts with customers (ASC 606) for one year for certain entities. …
Loans Available for Businesses
Crosslin has received numerous follow-up questions regarding loans available for businesses. The Paycheck Protection Program (“PPP”) authorizes up to $349 billion in forgivable loans to small businesses to pay their…
CARES ACT SUMMARY
On March 27, 2020, President Trump signed into law the Coronavirus Aid, Relief and Economic Security (CARES) Act, which provides relief to taxpayers affected by the novel coronavirus (COVID-19). The…
SBA DISASTER ASSISTANCE IN RESPONSE TO THE CORONAVIRUS – LOW-INTEREST LOANS
In response to the novel coronavirus (COVID-19) pandemic affecting the small business community across the country, the U.S. Small Business Administration (SBA) is offering low-interest federal disaster loans for working…
IRS OUTLINES PROCEDURES FOR PAYROLL TAX CREDITS AND RAPID REFUNDS FOR EMPLOYERS MAKING FEDERALLY-MANDATED COVID-19 LEAVE PAYMENTS
The federal government is trying to get much-needed cash into the hands of employers and employees affected by COVID-19 as quickly as possible. To do so, it is utilizing employers’ existing…
Retirement Savings for the Self-Employed
Many tax-favored options are available to self-employed individuals to provide for their retirement. Tax planning for retirement can include deductible contributions to a traditional or Roth IRA, SEP plan, SIMPLE…
Sides and Crosslin Make Nashville Medical News InCharge Healthcare List 2020
We are so proud of our very own Rhonda Sides and Dell Crosslin for making this year’s InCharge Healthcare 2020 List in Nashville Medical News. It’s such an impressive list…
Who’s Wearing the “Accounting” Hat in Your Company and Does it Fit?
Can you identify with any of these common scenarios? You are a partner in the company, but also handling the accounting functions. You are a small business owner, and the…
Tax Team VITA Presentation
The Crosslin tax team had a great time presenting recently at the United Way’s Volunteer Income Tax Assistance (VITA) site coordinators’ meeting. Attendees came from all over the state to…
Nonprofit Standard Summer/Fall 2018
Crosslin recently released Nonprofit Standards, its quarterly newsletter that addresses accounting issues that affect today’s nonprofits. Topics in this issue include: Six tax reform issues impacting nonprofit organizations Is your…
