While nearly everyone has been affected by the COVID-19 pandemic, the economic impact has been especially acute for women. In addition to the disproportionate number of women who were furloughed or laid off, many women faced additional financial stress from needing to take time off to care for children, elderly parents, or other family members.…
For the second year in a row, the federal income tax filing due date for individuals has been postponed. The postponements come as a part of the fallout of the coronavirus pandemic and the legislation that has resulted from it, which has added complexity to tax filings and systemic strain to the U.S. tax bureau.…
We are pleased to announce that clients may come into our office effective February 22, 2021. Masks are required, and all meetings will take place in our conference rooms. Please reach out to our office if you wish to schedule a meeting, and for additional procedures.
The Consolidated Appropriations Act, 2021 (CCA), which was passed by Congress and signed by the president late last December, included a very tax-beneficial provision that liberalized the interaction between PPP loans and the Employee Retention Credit (ERC). Prior to its passage, if an employer obtained a Paycheck Protection Program (PPP) loan, the employer was ineligible…
In order to help trades and businesses to retain employees and keep them employed during the COVID-19 crisis, the Coronavirus Aid, Relief, and Economic Security (CARES) Act created the Employee Retention Credit for 2020. As part of the Consolidated Appropriations Act, 2021 (CCA), the credit has been extended through June 2021. The credit is actually…
As if this past year with all of its pandemic perils has not been stressful enough, the Office of the Inspector General for the Department of Labor has just added to our anxieties by announcing that at least at least $36 billion and possibly as much as $63 billion has been lost to improper unemployment…
Hear from a couple of our staff on what it’s like to work at BGBC as a first year accountant.
By Ric Opal “With COVID-19, we have gone through two years’ worth of digital transformation in two months” — Satya Nadella, CEO of Microsoft At the height of COVID-19, nonprofit organizations were forced to postpone or cancel events, transition their staff to work remotely, limit programs and contend with deferred planned investments. And, according to BDO’s…
According to BDO’s 2021 Life Sciences CFO Outlook Survey, life sciences organizations are doubling down on research and development (R&D), with 69% of life sciences CFOs planning to increase investment in R&D in 2021. At the same time, business and investment decisions are steeped in more risk than ever before, changing the way companies approach R&D…
After a day of fraught debate, the American Rescue Plan Act (ARPA) was passed by the Senate on Saturday, March 6. The $1.9 trillion relief bill now returns to the House for the body to approve the changes made in the Senate; it is expected to pass quickly and then be sent on to President…