Blog

Targeted Small Business Sole Operator Fund

By |2020-03-31T07:41:37-05:00March 26th, 2020|Uncategorized|

  A fund has been created to support Targeted Small Businesses (TSB) with zero employees that have been economically impacted by the COVID-19 pandemic. The program offers eligible small businesses grants ranging from $5,000-$10,000 to businesses that are sole proprietors or single-member LLCs that are also TSB certified, or have an application submitted to the Iowa Economic [...]

Family and Medical Leave Act (FMLA) expanded to provide relief to those affected by COVID-19

By |2020-04-02T11:53:19-05:00March 25th, 2020|TDT|

  “The Families First Coronavirus Response Act” (FFCRA), which goes into effect April 2, 2020 and expires December 31, 2020, responds to the coronavirus outbreak by providing additional assistance in the areas of COVID-19 testing, sick leave, food assistance, and more. We’ve compiled key details of FFCRA that we believe you need to know. In [...]

Your Accountant Left – Where to Go from Here?

By |2020-04-01T16:06:13-05:00March 24th, 2020|Advisory, Assurance, Budget, Change, Internal Control, Nonprofit|

  In the current economic and social climate, turnover is inevitable. Talented people land different jobs, move away, or retire. When turnover happens in your accounting department, most organizations experience some uncertainty and concern over the accounting function. You may wonder “how will we produce our financial reports next month?” or “how can we do [...]

New Lease Accounting Standard: Is Your Organization Prepared?

By |2020-03-31T14:18:42-05:00March 17th, 2020|Accounting, Assurance, Change, FASB, Lease|

  In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02 – Leases (Topic 842), which contains substantial changes in the accounting for leases by lessees: organizations which lease assets. The new lease accounting guidance will require lessees to record an asset and liability on the statement of financial position [...]

COVID-19 Updated 4.28.2020

By |2020-04-28T09:36:38-05:00March 16th, 2020|TDT|

Maximizing PPP Forgiveness Many of you have received funds from the Paycheck Protection Program (PPP) over the last couple weeks. Congratulations - we hope these funds can provide some assistance during these difficult times. In order to maximize forgiveness, you'll need to: Understand the loan forgiveness rules. Click HERE for our free Fact Sheet Track [...]

Evaluating Deal Structures For a Business Transition

By |2020-03-31T14:18:48-05:00March 3rd, 2020|Advisory, Business Valuation, Change, Gifts, Preparation, Succession Planning, Tax Planning|

  The time has come to begin transitioning out of the business you’ve spent your life building, but where do you begin? Whether you are selling to family, current employees, or an outside party, there are several deal structures to evaluate. We’ll discuss things to consider with various structures but always encourage you to establish [...]

Donor Trust and Financial Transparency

By |2020-03-31T14:18:58-05:00February 18th, 2020|Assurance, Budget, Cash Flow, Donation, IRS, Nonprofit|

  For many nonprofit organizations, it may be easy to create and tell a story that pulls on potential donors’ heartstrings to encourage an initial donation. However, keeping them engaged and donating in the future requires trust; one of the best ways to ensure trust is through financial transparency. Sure, there are some financial transparency [...]

Refine Your Chart of Accounts

By |2020-03-31T14:19:41-05:00February 4th, 2020|Accounting, Advisory, Tax Planning|

  Your financial reports should provide the relevant information you need to make financial decisions. An analysis of your company’s Chart of Accounts should be done to compare these accounts with the data utilized in the report, so you have quick access to the information you need. All accounting systems ultimately gather costs or revenues [...]

Understanding Your Retirement Plan Document and Fiduciary Duties

By |2020-01-16T15:20:09-06:00January 15th, 2020|Assurance, Compliance, Internal Control, Nonprofit, Retirement|

  As a retirement plan administrator or plan trustee, you are responsible for the management and successful operation of the retirement plan, in accordance with the plan document and the Employee Retirement Income Security Act (ERISA), on behalf of plan participants and beneficiaries. Therefore, in serving in these fiduciary roles, it is greatly important to [...]