Capitalize or Expense? The Age-Old Question of Repairs and Maintenance
The question of whether to capitalize or expense repairs and maintenance costs has plagued sole proprietorships…
Major Change in Store for Small Business Size Calculation
Historically, contractors were required to use the average of their last three completed fiscal years to…
Notice and Reporting Deadlines Approaching for Incentive Stock Option and Employee Stock Purchase Plans
Under Section 6039 of the Internal Revenue Code, corporations are required to furnish statements to current…
Depreciation on Buildout Improvements Still Unclear as Tax Filing Season Approaches
As filing season for 2018’s taxes nears, one area of the new Tax Cuts and Jobs…
White House Vows to Issue Tax Refunds During Shutdown
On Monday, January 7, the White House has vowed that the Internal Revenue Service (IRS) will…
D.C. Passes Wayfair-Style Bill and Expands Tax Base to Include Digital Goods
On December 31, 2018, the District of Columbia enacted significant sales tax legislation that will require…
SBA Proposes Revisions to the Small Business Regulations
The Small Business Administration (SBA) is proposing to amend its small business regulations to implement provisions…
Underpayment Penalty Relief for Nonprofits Subject to New Qualified Transportation Fringe Tax
Internal Revenue Service (IRS) Notice 2018-100 offers transitional relief to nonprofits from underpayment penalties related to…
GSA’s MAS Consolidation: A Big Step Forward
What’s Changing? On November 27, 2018, GSA announced it will consolidate all 24 of the Multiple…
A Contractor’s Guide to Surviving a Government Shutdown
The never-ending political stalemate in Washington may lead to yet another government shutdown. If our leaders…