Governmental Accounting Insights

Tax Prep, Planning & Strategy

Do you have a side gig? Make sure you understand your tax obligations

The number of people engaged in the “gig” or sharing economy has grown in recent years, according to a 2019 IRS report. And there are tax…

Tax Prep, Planning & Strategy

The SBA’s Paycheck Protection Program

To stem the tide of joblessness caused by the coronavirus (COVID-19) outbreak, the Small Business Administration (SBA) has officially launched…

Tax Prep, Planning & Strategy

Answers to questions about the CARES Act employee retention tax credit

The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid…

Tax Prep, Planning & Strategy

Hiring independent contractors? Make sure they’re properly classified

As a result of the coronavirus (COVID-19) crisis, your business may be using independent contractors to keep costs low. But you should be careful…

Tax Prep, Planning & Strategy

The CARES Act liberalizes net operating losses

The Coronavirus Aid, Relief, and Economic Security (CARES) Act eliminates some of the tax-revenue-generating provisions included in a previous…

Tax Prep, Planning & Strategy

Here’s how to handle gifts in kind and donated services

As unemployment and financial insecurity become widespread during the novel coronavirus (COVID-19) crisis, many not-for-profit donors find themselves…

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Latest Tweets

wcscpas Weyrich Cronin Sorra @wcscpas ·
9 Jul

Selling your home this summer? The sale could be tax-free, or it could create a sizable tax liability. Or it might result in a tax bill between those extremes. Learn more. https://bit.ly/4btm3cR

wcscpas Weyrich Cronin Sorra @wcscpas ·
7 Jul

The line between a hobby and a business isn’t always obvious — but it can have a major impact on your taxes. Learn what the IRS looks for and how to strengthen your position as a for-profit business. https://bit.ly/4fi3KK5