September 20, 2017

News Roundup

Basic Financial Policies for Nonprofits Financial policies play an integral role in the success of nonprofits, guiding how staff and board members are expected to operate, providing clarity and setting expectations. Here are some basic financial...
September 19, 2017

SBA Makes Changes to its Surety Bond Program

The U.S. Small Business Administration has made two important changes to its Surety Bond Guarantee (SBG) Program that will increase contract opportunities for small contractors, supporting them to grow their business operations. The changes will...
September 18, 2017

Proposed 2018 GAAP Financial Reporting Taxonomy and Shared Reporting Taxonomy Available for Review and Comment

FASB has released the proposed 2018 GAAP Financial Reporting Taxonomy for public review and comment. The Board also issued, new for 2018, the proposed 2018 Shared Reporting Taxonomy (SRT). The deadline to submit written comments for both documents is...
September 17, 2017

FASB Issues Improvements to Hedge Accounting

FASB has issued a final Accounting Standards Update (ASU) that will improve and simplify accounting rules around hedge accounting. The ASU is effective for public companies in 2019 and private companies in 2020. Early adoption is permitted. The new...
September 16, 2017

IRS Relaxes Loan, Hardship Rules for Hurricane Irma Victims

The IRS has announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Irma and members of their families. This is similar to relief provided last month to victims of...
September 15, 2017

MyDORWAY Improvements Go Live

The SCDOR’s improvements to MyDORWAY are now live and ready for you to use. MyDORWAY is the SCDOR's 24/7, online service to register a business, file tax returns, make payments, calculate penalties and interest, and view related...

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