Kendal Diehl

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So far Kendal Diehl has created 156 blog entries.

Additional Tax Deadlines for Individuals Extended to May 17

On March 29, 2021, the IRS announced that individuals now have until May 17, 2021, to meet specified deadlines that would typically fall on April 15, 2021. This announcement expands the IRS guidance issued earlier in March that extended the federal income tax filing deadline for individuals from April 15, 2021, to May 17, 2021. [...]

2021-03-30T16:18:18-05:00March 30th, 2021|INDIVIDUAL TAX|

U.S. Treasury and IRS Postpone Individual Income Tax Filing Deadline

Updated 3.17.2021 With the ever-changing environment surrounding the Coronavirus pandemic, the U.S. Treasury announced that the tax filing deadline for individuals of April 15, 2021, will be pushed back to May 17, 2021. This will allow taxpayers additional time to gather materials and file their taxes in the midst of the COVID-19 pandemic. It is [...]

2021-03-17T17:04:13-05:00March 17th, 2021|BUSINESS TAX, COVID-19, INDIVIDUAL TAX, STATE & LOCAL TAX|

Now or Later? Weighing 15-year Depreciation vs. 100% Bonus Depreciation for QIP

The Coronavirus Aid, Relief, and Economic Security (CARES) Act gave real property owners new flexibility in how quickly they depreciate real estate qualified improvement property (QIP). Commercial property owners can — for QIP placed in service between 2018 and 2022 — either depreciate 100% in the year it is placed in service, or claim straight-line [...]

2021-09-16T11:46:47-05:00March 12th, 2021|INDIVIDUAL TAX|

President Biden Signs American Rescue Plan into Law

President Biden signed the latest measure to help mitigate the financial effects of the COVID-19 pandemic on Americans on Thursday, March 11, 2021. The bill is robust in scope, seeking to further vaccination efforts and also allocating funds to boost unemployment and reopen schools, among many provisions. The American Rescue Plan includes: Direct payments of [...]

2021-03-11T14:47:57-06:00March 11th, 2021|COVID-19|

Federal Audit Clearinghouse Extended Submission Dates FAQs

Download a printable version of this resource here. The information below has been updated as of March 24, 2021, and reflects the most recent guidance provided by OMB Memo M-21-20. Due to COVID-19, the federal government has significantly increased its federal funding. This increase has caused many entities to surpass the Office of Management [...]

2021-03-26T11:28:23-05:00March 9th, 2021|GOVERNMENTS, HEALTHCARE, Single Audits|

Shutting Down a Business? Updated Resources Available from IRS

As the COVID-19 pandemic continues to threaten the lives and livelihoods of people around the world, many entrepreneurs are realizing that they will have to close some operations in order to focus efforts on the businesses most likely to outlast the pandemic. With so many American businesses facing the need to wind down, the IRS [...]

2021-01-08T12:24:03-06:00January 8th, 2021|BUSINESS TAX|

Top 25 Nationally Ranked Carr, Riggs & Ingram (CRI) Expands Operations in Alabama

CRI Merges Mobile-Based Firm Russell Thompson Butler & Houston, LLP ENTERPRISE, Ala., January 7, 2021 - Top 25 nationally ranked CPA and advisory firm Carr, Riggs & Ingram, LLC (CRI) has increased its presence in the state of Alabama, expanding its locations to serve clients in Mobile and along the Alabama Gulf Coast through the [...]

2021-01-07T07:29:52-06:00January 7th, 2021|PRESS RELEASES|

New COVID-19 Relief Provisions for Individuals and Businesses

In the waning days of 2020, the latest of a series of COVID relief provisions were signed into law. This most recent round of stimulus and tax relief was tied to the Consolidated Appropriation Act. Not only does this bill provide additional economic aid in response to the pandemic, but it also avoids a federal [...]

2021-01-06T07:47:14-06:00December 30th, 2020|BUSINESS TAX, COVID-19, INDIVIDUAL TAX|

IRS Extends Deadline for Providing Health Coverage Info to Covered Individuals

Businesses that provide health care coverage to employees have extra time to provide 2020 health coverage information to covered individuals. The IRS has announced in Notice 2020-76 that it will extend the due date by which insurers, self-insuring employers, applicable large employers, and certain other providers of minimum essential coverage must furnish to individuals the 2020 [...]

2020-12-29T12:52:03-06:00December 29th, 2020|BUSINESS TAX|

How Will 1099-Misc Reporting Be Different This Year?

Did you know that 1099 reporting will be very different this year? As we enter the 2020 tax year, businesses will report nonemployee compensation on a new Form 1099-NEC instead of Form 1099-Misc. The IRS now requires the new form if companies pay more than $600 to a nonemployee, such as an independent contractor.  1099-MISC [...]

2020-12-16T12:49:57-06:00December 16th, 2020|BUSINESS CONSULTING|

Paycheck Protection Program and Grant Programs – What Now?

As many organizations reach the end of the covered period for their Paycheck Protection Program (PPP) loans and contemplate the loan forgiveness process, it's crucial to identify usage of payroll and non-payroll expenses in the PPP forgiveness application. Businesses should begin to research a forgiveness strategy to avoid double-dipping with other federal and non-federal grant [...]

2020-12-14T13:19:18-06:00December 14th, 2020|Uncategorized|

Which Type of Charitable Trust Is Right for You?

A charitable trust is one of the most visible entities funding nonprofit organizations in the country today. You may have seen acknowledgments for their contributions to public radio and television stations, arts and science organizations, or even your alma mater. If you've been considering establishing a charitable trust to meet your giving goals, it's time [...]

2020-12-03T18:50:20-06:00December 3rd, 2020|NOT-FOR-PROFITS|

Easy Estate Planning Tips

2020 is a year we will all remember. While we focus on COVID-19 cures and the upcoming holidays, there are a few tried and true estate planning techniques that are easy to implement and can have a substantial economic impact over the long term for you and your family. The Annual Exclusion Never underestimate the [...]

2020-11-19T09:42:04-06:00October 30th, 2020|INDIVIDUAL PLANNING, INDIVIDUAL TAX|

2020 Election – Just How Different Are the Trump and Biden Tax Plans?

With so much election news in the air, small business owners are focused on something other than the coronavirus for a change: tax plans. President Donald Trump’s and former Vice President Joe Biden’s proposed tax policies both have the potential to change the playing field for small business owners. With so much riding on [...]

2020-11-10T15:33:46-06:00October 29th, 2020|BUSINESS TAX, INDIVIDUAL TAX|

What’s Behind the Hype About Donor-Advised Funds?

Donor-advised funds—a term that you may have heard popping up as of late. Though this type of charitable giving vehicle has been around since the 1930s, it has only recently experienced a boom in growth. Between 2013 and 2018, contributions to donor-advised funds increased by 86 percent. The year 2018 saw $37.12 billion in contributions [...]

2020-09-23T11:18:00-05:00September 22nd, 2020|NOT-FOR-PROFITS|

Smarter Giving: Four Things to Know When Considering Charitable Contributions

What will your legacy be? Donating to a nonprofit organization through an estate or trust is one way to ensure the cause you care about will be supported for years to come, even after you’re gone. It can be an emotional choice, but it's important to consider the financial implications of charitable giving to be [...]

2020-09-22T16:12:07-05:00September 22nd, 2020|NOT-FOR-PROFITS|

Assembling an Effective Financial Team

In today's environment, an effective financial team is vital to an organization's success and its ability to avoid failure. In many circumstances, margins are incredibly thin, so reliable financial information and analysis can differentiate between success and failure. Contractors should ensure that at least one member of their financial team possesses a holistic understanding of [...]

2020-09-03T14:48:22-05:00September 3rd, 2020|CONSTRUCTION|

How to Calculate Your Burn Rate

A company's "burn rate" is the rate in which it depletes its pool of cash. It often serves as a common metric of performance and valuation for contractors. Many believe the burn rate is a key metric for decision-making, as it provides an accurate picture of a contractor's financial health. Luckily, calculating the burn rate [...]

2020-09-03T10:39:36-05:00September 3rd, 2020|CONSTRUCTION|

Contractors Can Remain Profitable in Down Market

Many contractors focus more on winning projects than making a profit. The reason? Clients, particularly in the public sector, typically award contracts to the lowest bidder. That makes it challenging for any contractor to maintain profitability while working on large, complex projects. There are a variety of factors that can shrink a profit margin. An [...]

2020-09-02T16:04:38-05:00September 2nd, 2020|CONSTRUCTION|

OMB Revisions to the Uniform Guidance – August 2020

On August 13, 2020, the Office of Management and Budget (OMB) issued revisions to the Uniform Guidance in 2 CFR 200. These revisions are part of a required review of the Uniform Guidance performed every 5 years. While most of the revisions will go into effect on November 12, 2020, two sections are now applicable [...]

2020-08-17T19:27:08-05:00August 17th, 2020|GOVERNMENTS|