5 common accounting software mistakes to avoid

No company can afford to operate without the right accounting software. When considering whether to buy a new product or upgrade their current solutions, however, business owners often fall prey to some common mistakes. Here are five gaffes to avoid: 1. Relying on a generic solution. Some companies rush into buying an accounting system without stopping… Read more »

Diversity and Inclusion in FVS Podcast Series

YHB Principal, Kirstine Connors, CPA/ABV, CVA, and member of the AICPA’s ABV Credential Committee, had the opportunity to work with leaders in the forensics and valuation services industry to develop a series of podcasts on diversity and inclusion. Unfortunately, there continues to be a wide race and gender gap in the accounting industry, and we see… Read more »

SBA Guidance and Loan Resources

[ updated March 27, 2020 | 11:30am ] The U.S. Small Business Administration (SBA) has released several resources to assist small businesses impacted by the COVID-19 including low-interest disaster loans. We will update this page as health and government officials continue to release new funding, grants and resources. Contact us with any specific questions and… Read more »

Senate Passes CARES Act

[ Updated April 3, 2020 | 2:13pm ] Small Business Owner’s Guide The U.S. Senate Committee on Small Business and Entrepreneurship recently published a PDF that provides some fairly detailed answers to most organizations questions. Particularly, the document addresses the following areas: Using capital to cover the cost of retaining employees through Paycheck Protection Program… Read more »

What you need to know about the Families First Coronavirus Response Act

President Trump has signed into law the Families First Coronavirus Response Act. Among other things, the new law: Requires certain employers to provide paid leave benefits to employees affected by the coronavirus outbreak; expands unemployment benefits and offers grants to states to process and pay claims; and mandates coverage of coronavirus testing with no cost-sharing…. Read more »

Virginia Tax Update

As Federal measures to mitigate the economic effects of the COVID-19 (Coronavirus) pandemic continue to roll out, states are slowly adopting their own guidance. On March 19, 2020, Governor Northam announced a delay in the income tax filing deadline to assist Virginia residents and businesses in hope of lessening the economic impact caused by COVID-19. Additional… Read more »

Federal Tax Filing Delayed until July 15

[ Updated March 28, 2020 | 1:00pm ] Federal measures to mitigate the economic effects of the COVID-19 pandemic continue to roll out. On March 20, Treasury Secretary Mnuchin announced that the federal income tax filing deadline has been extended to July 15, 2020.  As of this writing, there are few details concerning the new extension and specific… Read more »

Respond quickly to succession plan troubles

Family-owned construction businesses often face distinctive challenges when it comes to succession planning. Emotions can run high, and the business owner’s lifelong working legacy may be at stake. This article discusses various ways to address succession planning concerns and conflicts. Family-owned construction businesses often face distinctive challenges when it comes to succession planning. Emotions can… Read more »

Succession Planning – Take Control of Your Destiny

Why do I need to do succession planning? Ask yourself the following questions: How would the business continue if something happened to me? Would there be an orderly transition of the business? Would our client/customer needs continue to be met in a timely fashion? How would the business be liquidated?   When evaluating the first… Read more »