IRS Publishes New Release Regarding Business Interest Expense Limitations

The Internal Revenue Service (IRS) recently announced finalized guidance regarding business interest expense limitations. In a helpful article from the Journal of Accountancy, author Sally Schreiber offers an overview of the new rules. Background The business interest expense limitation was created by the Tax Cuts and Jobs Act (TCJA) of 2017 and subsequently modified by

An Insight to Financial Planning for Beginners

Are you tired of your budget being too tight from month to month? Does the worry of not having enough saved up for the future overwhelm you? If so, then it’s time to regain control of your finances. While we know that this is easier said than done, it can be brought to fruition through

Types of Government Audit Services

In today’s world, transparency and accountability are at the center of all public activity and operations. That’s why government audit is needed to make all processes transparent and accountable. In doing so, government agencies are able to maintain the social and political status quo. The federal government awards grants, loans, and interest subsidies to corporations,

Fileless Malware Poses New Threat to Computer Users

With increased cyber threats, there is great awareness of malware that comes attached in files.  Individuals and businesses invest in security solutions to protect against malware. In fact, there are often company policies regarding opening attachments on emails; yet there is an increase in a type of threat (though not new), known as the fileless

How Likely Would a Second Coronavirus Wave Negatively Impact the Stock Market?

As Johns Hopkins University of Medicine’s Coronavirus Resource Center revealed a recent increase of coronavirus cases in the Southern and Southwestern United States, the VIX ticked up. With fears of the outbreak curve not flattening, how will this impact markets? The Volatility Index (VIX) was established by the Chicago Board Options Exchange in 1993 to

Hiring in the Age of Coronavirus

The U.S. job market gained 2.5 million jobs during the month of May, dropping the unemployment rate to 13.3 percent, according to the U.S. Bureau of Labor Statistics. There has likely been a lot of rehiring, with more to come as the economy continues reopening. However, until social distancing becomes a thing of the past,

PPP Gets Five-Week Extension

On Wednesday, July 1, the House agreed unanimously to an extension of the Paycheck Protection Program (PPP). The five-week extension originated in the Senate on Tuesday, where it was approved late in the evening. President Trump signed the bill into law on Saturday, July 4.  With around $129 billion of loan funds still available through

SBA PPP Guidance Update—June 25-26, 2020

Late last week, the United States Small Business Administration (SBA) released yet another round of guidance updates regarding the Paycheck Protection Program (PPP). The areas covered by this latest release are maturity dates and loan amounts. A recent article from the Journal of Accountancy offers a brief overview of the guidance update. The additional guidance

7 Things to Look for in Accounting Firms in Irvine

Is it time for your business to outsource your accounting needs? All businesses can benefit from seeking accounting help, especially in light of the fact that 82% of businesses fail due to cash flow problems. An accountant can assist you with bookkeeping, budget development, tax preparation, and more. These services will allow your business to

5 Questions to Ask When Choosing a CPA Firm in Irvine

Are you interested in hiring a certified public accountant, or CPA, for your business located in Irvine, California, or the surrounding area? There are a variety of reasons you might be seeking the help of a CPA in Irvine. Maybe you’re looking for someone to audit your company’s operations so that you can cut wasteful