Blog Articles & Video Accounting

Bowing to pressure that began nearly as early as tax filing season started, the IRS has finally agreed to postpone the due date for filing 2020 returns, to May 17 (IR-2021-59, 3/17/21), which doesn’t please all tax pros. As you know, the initial due date for filing 2020 federal income

Cannabis accounting has become a profitable niche, yet it’s grown increasingly crowded. What do you need to know to get in and get ahead? Most cannabis start-up businesses run on the investor money, debt and some of them barely hang in there in the hopes of imminent marijuana legalization. Cannabis

I devoted a previous column to two changes on IRS Form 1040. The first one: changes to educator expenses (line 10 of Schedule 1, Additional Income and Adjustments to Income). The other one: expenses incurred by volunteer workers (line 11 of Schedule A, Itemized Deductions). Modest incentives for modest contributions.

A few years ago, I spoke to the managing partner of a midsize accounting firm who I met at an accounting group conference.  “So, what is the big future-readiness challenge that you’re facing, John?” I asked. His answer: “As a midsize firm, we don’t have time to think about future

In addition to addressing immediate needs, the American Rescue Plan intends to bolster future economic growth. It signals a shift away from stopgap measures and toward long-term planning and policy changes, a move states are starting to make, too. Former President Trump marked the end of his presidency by signing

On March 12, 2021, the Small Business Administration (SBA) announced that borrowers have until 2022 to meet their obligations under the COVID-19 Economic Injury Disaster Loan (EIDL) program. Borrowers will resume their regular payment schedule with the payment immediately preceding March 31, 2022, unless the borrower voluntarily continues to make