On March 31, 2021, the Biden Administration released an overview of The American Jobs Plan (Plan), which broadly outlines a proposed $2T modernization investment in the nation’s transportation, environmental and digital infrastructure and spread over eight fiscal years. The Plan includes fixing highways, upgrading ports, airports, and other transit centers. It calls for the modernization of public buildings, including federal facilities, upgrades to water delivery infrastructure, and revitalization of American manufacturing and innovation.

When the American Rescue Plan Act of 2021 was signed into law on March 11, 2021, it included a provision that allows taxpayers that earned less than $150,000 in modified adjusted gross income to exclude up to $10,200 of unemployment compensation claimed in 2020 on their 2020 individual tax returns (up to $20,400 for married couples filing jointly if both received benefits).

In the fall of 2020, I wrote about whether one should choose to waive or not to waive part of or all of one’s requirement to take a Required Minimum Distribution (RMD).  More than likely, that will not be an option for 2021.

All organizations are required to detail the effects of the COVID-19 pandemic on their organization in the financial statement notes. This disclosure requirement is for commercial entities as well as nonprofit entities.

The COVID-19 pandemic has affected nearly every aspect of daily life, so preparing for your company or nonprofit organization’s audit may have some significant differences this year, considering the remote environment that many of us are working in today.

I recently attended the Princeton Mercer Regional Chamber’s 8th Annual 2021 Central NJ Real Estate Forecast. I joined nearly 300 others virtually for a very insightful discussion from some of the industry’s top experts.

Paycheck Protection Program (PPP) loans have been a lifeline for many nonprofit organizations during the COVID-19 pandemic. Along with these much-needed funds comes the question of how to account for the loan proceeds and subsequent forgiveness of the loan.

The Consolidated Appropriations Act, 2021, created many new opportunities for New Jersey and Pennsylvania-area nonprofit organizations.

Paycheck Protection Program (PPP) loans have been a lifeline for many businesses during the COVID-19 pandemic. Along with these much-needed funds comes the question of how to account for the loan proceeds and subsequent forgiveness of the loan.

The COVID-19 pandemic has created new operational and financial challenges for many businesses, including nonprofit organizations.