Author Archives: Nick Spoltore, Esq.

accounting and cybersecurity

Are you prepared for a ransomware attack?   If the answer is “no” – and it probably is – then now is the time to get ready. Ransomware attacks are on the rise, and every business is a possible target.   Preparation and prevention are the keys to avoiding the dire consequences – the costs, leaks of […]

Last year, the IRS announced new Schedules K-2 and K-3 for the 2021 tax year. These schedules were introduced to standardize the reporting of international tax items that were previously reported on Schedule K-1. The IRS published updated instructions for Forms 1065, 1120-S and 8865 on Jan. 18, 2022, stating that entities with no foreign […]

Is the Build Back Better Act (BBB) going on a diet? President Biden’s $2.2 trillion spending proposal is showing signs that it’s too big to squeeze through the doors of the U.S. Senate, but advocates believe that losing a few pounds – er, dollars – is just what it needs to win final approval. The […]

Surgent CPE blog

Well, the Dems intend to partially fund the upcoming legislation with a wealth tax on roughly 750 Americans. The plan, released this morning, calls for the tax to apply to gains every year, instead of only at sale, to a taxpayer with $1B in assets or a taxpayer who earned $100M in income for three […]

Surgent CPE blog

As our entire team is working feverishly to monitor the latest news coming out of Washington, we will have a webinar on the new stimulus package within hours of its release. As the domino effect of COVID raced through every sector of our lives, small businesses took the biggest hit. Temporary closings have become routine. […]

The IRS has recently issued guidance in Revenue Ruling 2020-27 and Revenue Procedure 2020-51 regarding deductions for eligible PPP expenses. Audit ramifications are obviously of concern here. In our new webinar, PPP Loan Forgiveness Case Study: Form 3508S Analyzed and Explained (PPP8), our proven experts will explore the various Form 3508 series options available to request and […]

Are your receivables light this year? Have you been working inordinate hours during this new normal without seeing the expected profits? We understand. This course is for you. Its utility is twofold. Simply put, our panel of experts will focus on 2020 planning. The initial offering of Year-End Tax Update and Planning: Looking Back at […]

As entities with June 30, 2020 year-end reporting dates prepare their financial statements for the first time post the COVID-19 pandemic, they will need to address the many potential financial reporting issues which have arisen as a result of the economic fallout of COVID-19. The financial reporting implications of actions which entities have taken in […]

We are proud to announce the launch of a new weekly CPE series, The Weekly Expert Hour. Over the years, Surgent has gained a reputation for rapidly developing comprehensive and practical new courses for CPAs and other tax and financial professionals and delivering them almost immediately after new legislative, regulatory, or other changes occur. As the pace […]

The AICPA issued a Technical Q&A (Section 3200) in coordination with the Chief Accountant of the SEC on the treatment of forgivable loans received under the Small Business Administration (SBA) Paycheck Protection Program. The treatment of Paycheck Protection Program (PPP) loans has caused confusion in both the for-profit community and nonprofit community. The FASB is […]