CARES Act – Individual Tax Relief Provisions

CARES Act – Individual Tax Relief Provisions

The House passed the Senate’s CARES Act today. The Act includes individual tax relief provisions that we have broken down below:  RECOVERY RELIEF Advance rebate against 2020 taxes$1,200 for Individuals; $2,400 for joint, $500 for each child$5 phases out for...
CARES Act – Individual Tax Relief Provisions

Keeping American Workers Paid and Employed Act Summary

In the late hours of March 25, 2020 the U.S. Senate unanimously passed the Coronavirus Aid, Relief, and Economic Security Act (dubbed the CARES Act), an anxiously awaited bill to help Americans navigate this new COVID-19 induced economic environment. While the bill...
CARES Act – Individual Tax Relief Provisions

CARES Act Summary

The senate passes the third bill to help the economy with current COVID-19 crisis, but what does it mean for you? Below is a brief summary of the CARES Act. We will be diving into the details today and we will get more information out to you as it becomes available....
CARES Act – Individual Tax Relief Provisions

Navigating the Impact of COVID-19 on Small Business

Navigating your business through the COVID-19 pandemic can feel as confusing as ever. We have gathered the top resources that may help you sustain your business sustain through the negative effects of COVID-19: Tax Extensions In Philadelphia, the BIRT and NPT...
CARES Act – Individual Tax Relief Provisions

Understanding the Families First Package

In light of the passage of the Families First Coronavirus Response Act (“Families First”), many business leaders now face navigating how to adhere to it. Although the legislation is complex and much more expansive that what we are highlighting, there are...
CARES Act – Individual Tax Relief Provisions

History of Women in Accounting

March is Women’s History Month!  To many, March is a celebratory month for the brave women who first fought for equality and paved the way for the women of today. We all have demanding lives, especially in tax season, let us take a quick moment to dive into the...
CARES Act – Individual Tax Relief Provisions

The Five Step Model of Revenue Recognition

The new revenue recognition standards under ASC 606 are now in effect for all non-public companies. The new standard provides a five step model for recognizing revenue. The five steps are described below with items that companies should consider as they evaluate their...
CARES Act – Individual Tax Relief Provisions

The Stretch is Gone….

The “Setting Every Community Up for Retirement Enhancement Act”, or the SECURE Act, began impacting individuals on January 1, 2020.   One of the major changes brought on by this Act is to eliminate, for most individuals, the ability to take required minimum...
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