The Internal Revenue Service announced they are looking to hire over 4,000 contact representative positions in 22 cities in the U.S. and in Puerto Rico. So far through the month of June, the IRS has held virtual and in-person hiring events where they have given job offers to qualified candidates. “The IRS continues to increase...Continue Reading

We know and have felt by now the effects of supply chain issues due to the pandemic. If you are in real estate, construction or manufacturing you may have seen an immediate difference between your 2019 revenue vs 2020 and 2021 revenues. How do you project costs and create budgets for 2023 based on the...Continue Reading

Do you have the clause FAR 52.216-7 “Allowable Cost and Payment” in any of your contracts? If you do, you likely have a requirement to prepare an Incurred Cost Submission for your company and submit it to your local DCAA office 6 months after your fiscal year-end. Typically, this FAR clause is incorporated in cost...Continue Reading

This article was written by Meg Hampton and originally published by Accounting Today. We have heard that many of the tasks and duties that today’s college students will perform by 2030 have not been invented yet. The evolution of technology and AI is already changing how public accountants perform their work, and it stands to reason...Continue Reading

By Michelle Jenkins, CPA If you remember the TV show, “The Office,” they had an accounting and payroll team. It included Angela, Oscar and Kevin. When accountant “Angela” went on maternity leave, that department was essentially short staffed. Short staffing is a burden for owners, leaders and existing staff when it is temporary. What if...Continue Reading

Grooming the right leadership team or bringing new owners into your company must be carefully orchestrated. Future owners need to match your goals for transfer of ownership, but they should also mesh well with daily operations and employee expectations. If you plan to exit gradually, your chosen successor must also be open to your continued...Continue Reading

By Michelle Jenkins, CPA, MBA and Elena Miller, MBA Historical data is just one component of government contractor budgeting that, taken alone, will often miss the mark against actual costs or revenue. Using historicals that are looking backwards will drive the budget even farther from reality. To develop more accurate forward pricing budgets, finance leaders...Continue Reading

With the second round of Paycheck Protection Program (PPP2) loans moving toward the end of their covered periods, the Small Business Administration recently announced a new portal that will allow borrowers with loans of $150,000 or less to potentially apply for forgiveness directly rather than applying through their bank’s portal. According to the SBA’s announcement,...Continue Reading

By Meg Hampton, CPA, MAcc With life beginning to return to some semblance of normalcy, small businesses and organizations that received stimulus money through 2020 and early 2021 are entering an important phase for recording and reporting on these federal and state funds. Recording complexities for stimulus payments—whether in the form of loans, grants or...Continue Reading

When speaking to clients about ways to manage tax credits, we often have to answer this question: “Does the R&D Tax Credit apply to me?” It depends. And it really depends in the area of software development or engineering improvements. Companies can overlook thousands of dollars in unrealized credits at the federal and state level...Continue Reading