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Coronavirus Resource Guide for Business Owners

There is an ever-evolving flood of information being made available in response to the COVID-19 pandemic – what it means for businesses, owners and employees, federal and state guidance, clarity on specific issues such as insurance coverage and contractual obligations, what your business can do to be prepared under various scenarios, and much more. To…

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Coronavirus (COVID-19) Impact, Risk & Response Toolkit

Due to the rapid acceleration of the COVID-19 pandemic, countless organizations are putting together strategic plans in order to alleviate the potential effects on their operations, while continuing to meet the needs of their customers and constituents. As of right now, it is too premature to be able to evaluate the final outcomes this pandemic…

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Business Sustainability Checklist for Nonprofit Organizations During Crisis

During an unprecedented crisis such as the coronavirus (COVID-19) outbreak, an organization’s greatest chances of survival dramatically improve if it takes proactive measures to preserve cash immediately instead of taking a purely reactive “wait and see” mentality. The expression “cash is king” refers to the importance of cash flow in the overall fiscal health of a business.  This…

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Business Sustainability Checklist for Organizations During Crisis

During an unprecedented crisis such as the coronavirus (COVID-19) outbreak, a business’s greatest chances of survival dramatically improve if it takes proactive measures to preserve cash immediately instead of taking a purely reactive “wait and see” mentality. The expression “cash is king” refers to the importance of cash flow in the overall fiscal health of a business.  This…

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This Thursday: Ask Your Coronavirus Questions Live on NJ 101.5

On Thursday, March 12 at 7 p.m., New Jersey 101.5 is presenting a live broadcast confronting the worldwide novel coronavirus crisis, and how it affects New Jersey residents. New Jersey 101.5 Special Projects Director and Morning News Anchor Eric Scott leads the news and digital departments in bringing listeners vital information about New Jersey’s preparedness…

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Nonprofit Grants & Contracts – It’s Time to Implement FASB ASU 2018-08

In June 2018, the Financial Accounting Standards Board (FASB) released Accounting Standards Update (ASU) 2018-08, Clarifying the Scope of the Accounting Guidance for Contributions Received and Contributions Made. The update aims to minimize diversity in the classification of grants and contracts that exists under current guidance. Following are key considerations, as well as a flowchart…

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3 Ways to Position Yourself & Your Family for Future Success

Many business owners support their families through their businesses. If something were to happen to you, such as a sudden death or permanent incapacitation, it may affect both your business and the lifestyles of the people who rely on you. Here are three things you should consider when planning for the future success of your…

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Tax Watch: How the IRS W-4 Changes Will Affect Employees & Employers

The IRS has completely changed income tax withholding with the release of a new W-4 form for 2020.  There are differing opinions on whether this is a good thing or not.  If filled out correctly, the form should approximate the correct withholding for a person.  The form is very different from prior year W-4s, however,…

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Cryptocurrency or Cryptonite?

In 2014, the Internal Revenue Service (IRS) issued limited guidance on cryptocurrency, which led to more questions than answers. As the use of digital currency has become more widespread in the last several years, the IRS has focused recent enforcement efforts on educating taxpayers, to help ensure they are compliant in reporting and disclosing their…

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The SECURE Act

On December 20, 2019, Congress passed the Setting Every Community Up for Retirement Enhancement (SECURE) Act, which went into effect on January 1, 2020.  This is the broadest piece of retirement legislation passed in 13 years.  The changes affect many Americans and could make saving for retirement easier and more accessible for many individuals.  Below…

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