Free Resource Guides for Nonprofits

The VSCPA has released four free resource guides for nonprofit organizations to aid them in financial matters. Updated by specialists on the PBMares Not-For-Profit Team, topics include budgeting, income tax issues, responsibilities and risks, and auditing.

2022-10-11T12:02:05-04:00October 4, 2022|Categories: Not-for-Profit, Tax: Exempt Organizations|

New Life for Opportunity Zones?

Opportunity Zones could be getting an extension with several additional changes. Real estate investors, even those who perhaps didn’t qualify before, will want to take a second look at the second Act for Opportunity Zones.

2022-10-04T13:19:51-04:00October 4, 2022|Categories: Construction and Real Estate, Tax: Business, Tax: Credits & Incentives|Tags: , |

Amid Rising Interest Rates, the Ability to Deduct Interest Expenses Is Lower In 2022

Amid rising interest rates, the Section 163(j) business interest expense deduction has a more limited impact for real estate companies and other capital-intensive businesses starting in 2022. There are other financing strategies to mitigate the impact of the lower deduction.

2022-09-22T14:33:52-04:00September 22, 2022|Categories: Construction and Real Estate, Tax: Business, Tax: Individual|Tags: , , , |

What Is a Right-to-Work State?

In a "right-to-work" state, private-sector employees have the option to choose whether or not they want to join a union. In other states, a person applying for a private-sector job where employees are unionized can be required to join the union as a requirement of being hired.

2023-08-07T11:19:16-04:00September 17, 2022|Categories: Accounting, Labor Unions|Tags: |

What You Need to Know about Government Contracting Laws: FAR and Beyond

FAR (Federal Acquisition Regulations) is one of the most important laws to know for any company looking to work with the federal government. In this blog post, we'll cover some key points so you can get started on understanding your responsibilities as a contractor!

2022-09-22T14:10:34-04:00September 13, 2022|Categories: Government Contracting|Tags: |

New Inclusive Employment Practices in Virginia

Governor Youngkin’s announcement in May provides an alternative hiring process for individuals with disabilities, part of a larger discussion about inclusive hiring practices. Which state agencies are affected and how can they comply?

2022-09-14T13:43:51-04:00September 7, 2022|Categories: Government Contracting, Not-for-Profit|Tags: |

How Real Estate Partnerships Can Defer the Tax Impact of Canceled Debt

Real estate partnerships looking for a way to minimize the tax impact of canceled debt may be able to use qualified real property business indebtedness (QRPBI) to exclude forgiven debt from taxable income.

2022-09-08T16:36:50-04:00September 6, 2022|Categories: Construction and Real Estate|Tags: |

Unrelated Business Taxable Income Reporting for Partnerships

UBTI reporting for exempt organizations can be challenging. Exempt organizations investing in partnerships should ensure that the K1 reporting from the partnership provides the information necessary to ensure correct reporting.

2022-08-26T14:02:16-04:00August 24, 2022|Categories: Not-for-Profit, Tax: Exempt Organizations|Tags: |

What Is a System?  Getting Started Toward Business System Compliance!

It is important for government contractors in developing their business systems and offering them up to the government as representative of their compliance with the published requirements to understand what a “system” is in the context of government compliance.

2022-08-26T13:46:35-04:00August 23, 2022|Categories: Government Contracting|Tags: , |
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