On March 27, 2020, the CARES ACT (Coronavirus Aid, Relief and Economic Security) was enacted. The Act includes provisions to encourage immediate action by donors to Section 501(c)(3) charitable organizations. These provisions are for the 2020 tax year only. For donors who no longer itemize their deductions (for example, retirees who have moved into a…
We understand that there has been much media coverage of various government subsidies and concessions now available to small businesses to relieve the economic impacts of the COVID-19 crisis. To help you navigate what is available and whether it makes sense for your business to apply for any of these programs, we offer the following…
Sassetti announces the promotions of Shawn Carter to Senior Manager, Korina Carrillo to Manager, and Johnathan Bollas to Senior. Each brings with them a unique skill set, and the firm is excited to enter a new chapter with these gifted individuals.
Due to the lapse in appropriations that began midnight December 22, 2018, the federal government is in its fifth week of a partial shutdown, which includes much of the Internal Revenue Service (IRS). Indeed, although the IRS is working with a skeleton staff of excepted employees, most employees are not working during the shutdown. While…
Sassetti is pleased to announce Dirk Ahlbeck and Susan Penno have been admitted as partners. They each have extensive experience advising both individual taxpayers and businesses, and have both been instrumental in our firm’s recent growth through their dedication and ingenuity.
One of the first things I learned when I started my career in accounting is that numbers don’t lie. But they also don’t tell the whole story. In the case of a for-profit business, years of losses can speak to years of inefficiencies, OR years of research and innovation that will yield exponentially larger future…
Normally, in my life, I try to plan things out in advance. I always have tasks marked on my calendar or my to-do list, and try to be prepared for what may be around the corner. This is probably the case with most accountants, and of course is true for the regulatory bodies that create…
EMBRACING THE MILLENIALS I was recently at a conference and was totally surprised when the topic of our beloved Millennials and their personal habits were discussed at every break out session. I expected it at the HR break out session. And yes, I now know that they crave constant feedback and I promise to tweet…
Most business owners would agree there are few things more important for a business than keeping its finances in order. While owners juggle multiple responsibilities in running a business, it’s ultimately really all about the bottom line, isn’t it? Maintaining a profit is vital to your business, and management of your books is essential to…
“ALL GAVE SOME, SOME GAVE ALL” This quote was first uttered by Howard William Osterkamp. Howard was a Korean War Veteran and Purple Heart recipient who continued to fight for his country even after his leg was broken. He was acknowledging the fortuitous fact that he made it out of Korea with his life; whereas,…