How To Define Accounting For Businesses: Items To Consider
Accounting is how finances are tracked by an individual or organization, such as a small business.
New Form 1099 Reporting Coming in 2022
There are some differences for 1099 reporting coming in 2022. This article details the 1099-k form, who is required to report, and who will receive one in the future.
Accounting For The Cannabis Industry: What You Should Know
Keys Audits Cannabis companies are experiencing audits regularly, and non-compliant businesses face years of litigation, significant legal fees, and back taxes. In more extreme cases, significant penalties have been handed out for lack of accuracy, such as in the Alterman-Gibson court case, with a $78,000 accuracy penalty, and the Northern California Small Business Assistants case,…
Accounting for PPP Loans: What you Should Know
Keys Accounting and Reporting Considerations Currently, there is no specific guidance in the U.S. GAAP that addresses the accounting by an entity that obtains a forgivable loan from a government entity. However, due to overwhelming demand for some form of guidance for accounting for PPP loans, the American Institute of Certified Public Accountants, in consultation…