Insights

The ERC, which was originally scheduled to expire on December 31, 2021, will now retroactively end on September 30th under the Infrastructure Investment and Jobs Act which has passed Congress and will most likely be signed into law by President Biden. The ERC, enacted in the early stages of the COVID-19 pandemic to aid businesses impacted by shutdowns and closures to retain their employees, is a refundable tax credit against certain employment taxes on qualified wages.

Companies often view audits of financial statements as stressful and overwhelming, especially if they are being audited for the first time. The audit process, regardless of the size of the entity being audited, includes extensive procedures that the auditors are required to perform to provide an opinion on the entity’s financial statements. Understanding the audit process and developing a collaborative relationship with your auditors will lead to a more effective and efficient first-year process. Outlined below are several items to consider. 

As you look to begin your real estate fund, keep in mind that the valuation of investments held by the fund comprise a key component of the annual financial statement requirements pursuant to generally accepted accounting principles (GAAP). is. These valuations are more than just an audit compliance responsibility; they are a way to provide investors with confidence in their investments and serve as an indicator of the fund’s performance. As you navigate the valuation process, it is important to manage expectations with your auditors in order to avoid many of the common valuation process pitfalls which can hinder the audit process, increase costs and delay the release of financial statements. Here are some expectations along with items to watch out for as you begin the asset valuation process.

We are pleased to announce the promotions of eleven professionals. Four professionals have been promoted to Partner, two to Director and five to Senior Manager effective October 1, 2021. 

Brian Sanvidge, Leader of Anchin's Regulatory Compliance and Investigations Practice, sat down with the Journal of Accountancy to discuss what organizations need to know about unemployment fraud and how to prevent falling victim to it.

Anthony Millaci spoke with Newsday about rising health insurance costs, and how some businesses are joining Professional Employer Organizations to keep costs down. 

As individuals continue to work from home, the cybersecurity risks have only gotten greater as home networks tend to be less secure than the ones employees use in-office.

This is the second article in a series that describes the wide assortment of services that Anchin’s Financial Services team covers – focusing on consulting.

Here are some thoughts to consider (although note that some items mentioned are based on the draft bill released by the House Ways and Means Committee on September 13th).

We discuss some of the obstacles companies with remote employees confront when addressing their sales tax obligations in states in which they have not previously operated.