by DMJPS PLLC | Aug 17, 2022 | NonProfit, Tax Watch
With the summer ending and kids heading back to school, teachers are planning what they need to set up their classrooms effectively for their new groups of students. Teachers across the country often spend their hard-earned dollars to ensure that their classrooms have...
by DMJPS PLLC | Aug 8, 2022 | NonProfit, Tax Watch, Technology, Technology Consulting
With cyber attacks on the rise, even nonprofits can no longer ignore or poorly budget for this serious problem. Groups that may want to disrupt your mission or hold your data hostage may use malicious action to break into your system and use the data they obtain for...
by Samantha Suozzi | Jul 15, 2022 | COVID-19 Services, Tax, Tax Consulting, Tax Watch
When the Coronavirus Aid, Relief and Economic Security Act (CARES Act), was released, it provided taxpayers with the ability to defer an employer’s portion of Social Security taxes, as well as some self-employment taxes. For most employers, these taxes are reported on...
by DMJPS PLLC | Jun 27, 2022 | Hospitality & Restaurants, Tax Watch
If there’s one thing that’s true about the restaurant industry, it’s that it can be very volatile at times. But the pandemic and many additional factors have created an even more extreme roller coaster of issues than usual. Shutdowns, restrictions, reopening and...
by DMJPS PLLC | Jun 27, 2022 | Tax Watch
The IRS recently released its annual list of the “worst of the worst” tax scams currently affecting U.S. taxpayers, which it calls the “Dirty Dozen.” The agency monitors tax scams throughout the year. It notes that taxpayers may encounter the scams on the Dirty Dozen...
by Mason Barringer, CPA, CFE | Jun 21, 2022 | Tax Watch
When considering how to account for cryptocurrency (crypto) on a company’s financial statements, the simplest conclusion might be to classify it as a cash equivalent. After all, it is “currency,” right? U.S. Generally Accepted Accounting Principles (GAAP) defines cash...
