Gorfine, Schiller & Gardyn

The formal end of the Paycheck Protection Program (PPP) was on May 31, 2021, and for companies who received a PPP loan in round one, it’s more important than ever to ensure any deadlines to request forgiveness are not missed. Read the blog!

Intangible assets include valuable knowledge businesses have about clients, employees, and processes, as well as information customers have about the reputation and capabilities of businesses. They’re harder to understand than tangible assets, but it’s worth the effort because they frequently comprise most of a company’s value. Read the blog!

Similar to most operations for nonprofits, accounting and auditing has been dramatically impacted by the COVID-19 pandemic. Nonprofit organizations were forced to pivot quickly to functioning in a remote environment, completely changing standard processes for gathering and entering financial accounting information. Read the blog post!

The “investment value” and “fair market value” standards can yield different results, making it critical for business owners to know which standard is applicable under what circumstances. Read the blog post!

Nonprofits have multiple options for funding healthcare coverage for employees. It is important for organizations to know the differences and benefits for each one, especially when healthcare funding is one of the largest budgeting expenses for nonprofits. Read the post!

The thought of preparing your organization for a post-pandemic audit may be overwhelming, even if you’ve undergone the auditing process in the past. Every organization, including nonprofits, have been impacted by the pandemic, leading to complex accounting discussions surrounding 2020 financial statements. Read the blog!

In GSG’s final podcast of the three-part FAR podcast series, Director of Audit and Accounting Services, John Mahaffey discusses selected areas of cost that are allowable under FAR. Previous episodes included how to determine allowable verse unallowable costs and allowable compensation costs under FAR .

In part two of GSG’s three-part podcast series John Mahaffey , Director of Audit and Accounting Services, highlights selected areas of costs that are allowable under FAR, specifically allowable costs of compensation.

Director of Audit and Accounting, John Mahaffey , kicks off part one of GSG’s three-part FAR podcast series by providing an overview of how to determine allowable and unallowable costs under FAR.

GSG’s latest podcast features Alan Spero who discusses the new round of PPP loans and how businesses can take advantage of it.

Maryland pass-through entities, including partnerships and S corporations, now have an option to elect to pay Maryland state income tax rather than tax being paid by the entity owner(s).

Supervisor of Audit and Accounting Services, Mike Schiller , discusses the less regulated security measures taken by companies with employees working from home.

Governor Larry Hogan recently announced that the Maryland State Department of Assessments and Taxation (SDAT) is extending the deadline to apply for 2020 Homeowners’ and Renters’ Property Tax Credits from October 1 to October 31.

Jennifer Estrada , Senior Manager of Audit and Accounting Services, covers the following: The state of the multi-family housing market amid the global pandemic Funding opportunities provided by the CARES Act Financial tips for long-term survival

Many state Department of Transportation (DOT) government contractors have taken advantage of the Paycheck Protection Program (PPP) in response to the COVID-19 pandemic. However, there may be some long-term revenue-generating challenges that come from taking a PPP loan that many may not be aware of.

Matt Keefer , who explains the recent updates released by the IRS on the employee payroll tax deferral executive order.

GSG’s recent podcast features Tax Director, Matt Keefer , who discusses what to expect from the new order, including: Who is eligible How long it will last Recommendations on what to do with your savings

The COVID-19 pandemic shows no sign of slowing down, and as states begin considering options for another shut down, it seems as though we’re approaching the second wave. Although the impact of the pandemic’s first wave undoubtedly came as a shock, there were many business survival lessons learned during the months of March through June that can be used for today and the future.

GSG’s Director of Business Valuation and Litigation Support, Chuck Faunce , discusses gift and estate tax planning opportunities presented by the COVID-19 pandemic.

Alan Stein , Director of Audit and Accounting Services, discusses the evolving role of accountants who are providing guidance for businesses preparing to reopen during COVID-19.

In GSG’s latest podcast, Alan Stein , Director of Audit and Accounting Services, discusses the evolving role of accountants who are providing guidance for businesses preparing to reopen during COVID-19.

It’s nearly impossible to plan for a “black swan event” such as the COVID-19 outbreak, and the pandemic is forcing businesses to work on damage control by conserving cash, working with lenders to maintain liquidity, and pursuing the extraordinary government assistance being offered in these extraordinary times.

GSG’s Matt Keefer , Director of Tax Services, recently contributed to a NerdWallet article discussing the tax implications of the new July 15th tax filing deadline. In GSG’s latest podcast, Matt summarizes key points from the article, and he also covers the Families First Coronavirus Response Act, which provides relief to employers and employees directly impacted by COVID-19.

As the novel coronavirus (COVID-19) outbreak continues, companies across the globe are learning how to handle daily business disruption. While the scope of damage is unknown, it is evident that businesses will be suffering economic repercussions as a result of the rapid spread of the virus.

In late December 2019, the Setting Every Community Up for Retirement Enhancement Act, also known as the SECURE Act, was passed by Congress. The new legislation is the most extensive retirement act since the Pension Protection Act of 2006.