Investing in real estate is one of the most beneficial modes for generating wealth and is known to be the best performing asset in modern times. Owning real estate creates opportunities to generate cash flow, create avenues for effective wealth building and...
Accounting for Financial Instruments
Blog, Tax Services, Uncategorized
The accounting treatment of investments is a complex area to understand, but the Financial Accounting Standards Board (“FASB”) issued an Accounting Standards Update (“ASU”) in January 2016 in order to reduce the complexity of the original standard for financial...
Navigating the Updated Employee Retention Credit for Taxes
Blog, COVID-19 Resources, Tax Services
The Consolidated Appropriations (CCA) Act of 2021, signed into law on December 27, 2020, changes the employee retention credit. Some of the changes retroactively modify the Coronavirus Aid, Relief, and Economic Security (CARES) Act, while others are prospective...
American Rescue Plan Act and How it Impacts Businesses
Blog, COVID-19 Resources, Tax Services
On March 11, Congress instituted the latest Coronavirus (COVID-19) relief fund, the American Rescue Plan Act of 2021. This plan includes a total of $6 trillion in economic relief. Many plan provisions provide aid if...
Coronavirus Small Business Relief Update
Second Draw Payroll Protection Program Loans and First Draw Forgiveness Businesses continue to face unprecedented economic hardship due to the Coronavirus (COVID-19) outbreak. To assist, the Coronavirus Aid, Relief and Economic Security (CARES) Act has provided...
IRS Rulings on Paycheck Protection Program and Its Tax Impacts
The recent IRS rulings of Revenue Procedure 2020-21 and Revenue Ruling 2020-27 may impact businesses' ability to deduct the funds given under the Paycheck Protection Program (PPP), provided to create relief during the pandemic.On November 18, the IRS remarked the...
Are You Ready to Apply for PPP Loan Forgiveness?
Are You Ready to Apply for PPP Loan Forgiveness?Ever since the CARES Act was signed into law on March 26, 2020, followed by the enhancements provided by the Paycheck Protection Flexibility Act signed into law on June 5, 2020, there have been a flood of FAQs and...
Comprehensive Accounting Solutions from CDH
The hardest part of growing a business isn’t necessarily finding new clients and signing new contracts. The real obstacles come after new business appears and companies have to expand their operations to meet bigger obligations. Maintaining the same speed,...
Replacing Accountants Is More Expensive Than You Expect
In a recent post, we explored the challenges of recruiting and retaining accounting talent right now. Demand for qualified accountants is extremely high at the same time that supply is low and attitudes about company loyalty are changing. As a result, it’s almost...
Life After QuickBooks
For many small and mid-sized businesses, QuickBooks is the preferred accounting software choice for solid reasons. QuickBooks is well-known and easy to use, and it offers the basic functionality that almost any business can use to get off the ground. Unfortunately,...
Move to the Cloud with Sage Intacct
Sage Intacct today is a cloud app doing the heavy lifting of mapping transactions to financials so businesses can spend more time analyzing data and making better, faster decisions. Cloud ERP and accounting software represent the beginning of what will transform our...
ASC 606 & IFRS 15 – Are You Ready?
Here is an interesting article about the new revenue recognition rule (ASC 606) and accounting software requirements. By Intacct Staff Writer To start, both private and public companies are facing the biggest accounting change in a decade. The new standard...
CDH Announces New Principal Promotions
CDH is excited to announce the promotions of Yoko Yamamoto and Phil Lampugnano to the position of Principal. Yoko Yamamoto joined CDH in 2006 as a Senior Accountant in the Business Advisory Services Group, providing financial accounting and tax advice to...
Being “Comfortable” is Risky
Being “comfortable” is risky…….with outdated Excel reporting on key financial metrics Most accounting staff have used and developed reports off Excel. It’s a global tool but often will mutate into different versions of reality, especially when formulas are derived...
Overcome Complacency with an Open Book Management Policy
I was recently asked by the facilitator of a local Business Practice Organization to make a presentation to their group about what types of information do companies share with their managers and employees such as sales, margin, and profit. Even more specifically,...
Properly Managing Data for AI
AI is here. One of the significant challenges is properly managing the data for AI. The cloud and Sage Intacct start this process by providing the foundation for AI to extract meaningful transactional data. Only after a clean data extraction can AI start the process...
Unique Health Insurance Solution For Small Employers Owned by a Foreign Parent
In 2014, the Affordable Care Act or ACA changed the way insurance companies were allowed to rate small group health insurance plans. Prior to the ACA, insurers were allowed to rate plans based on factors such as insured members’ age/gender/health, location of the...
Engaging in the Recruiting Process to Create a Championship Team
As the college basketball season kicks into high gear I am struck by the similarities between the elements it takes to create a championship basketball team and the expectations of a recruiter working for any business. Being an HR professional, I spend a great deal...
ASC 606 – The New Revenue Recognition Standard Will Change How Companies Recognize Revenue. Are You Ready?
The new standard requires significant management judgement and the changes will impact software, procedures, systems, and financial reporting. CDH is here to discuss these changes with you and be your trusted resource. How will these changes affect my business...
Why QuickBooks Fails on New Revenue Recognition ASC 606
Here’s one reason why QuickBooks can’t handle the new revenue recognition rules…… The new revenue recognition rule, ASC 606 takes effect for public companies in 2018 and in 2019 for private companies. Here’s how QuickBooks will “handle” the new revenue recognition...
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