Below are several best accounting practices that businesses should incorporate into their year-end accounting procedures.
From Government Executive There’s nothing like a nice gift basket to lift spirits in the office during the holiday season. Federal employees should think twice, however, before digging into that box of expensive chocolates or that bottle of wine from a contractor. Even giving a token of appreciation to your boss requires extra care. Factors […]
Below are several time sensitive items that S-Corporations should take into consideration as part of their year-end planning. Most importantly, remember that the Internal Revenue Service requires an owner of an S-Corporation to pay themselves a reasonable salary for services provided to the corporation, which should be reported on Form W-2.
GSA’s Professional Services Category created six short, informational videos about the Acquisition Gateway and a range of digital tools including: Introduction to the Acquisition Gateway The Solutions Finder (found on the Acquisition Gateway) The Statement of Work Library (found on the Acquisition Gateway) OASIS Discovery OASIS Dashboard, and The Contract-Awarded Labor Category (CALC)
As the year draws to an end, many business owners face the challenge of determining which of their vendors will require a 1099. Failure to comply with this requirement may result in fines based on a per filing basis. However, with some basic planning this annual process is not as daunting as you may think. […]
KBR Inc. (KBR), the Houston-based construction and engineering firm, expanded its Government Services segment in 2016 with two sizable acquisitions. KBR acquired Wyle Inc. (Wyle) for approximately $600 million in July, and then acquired Honeywell Technology Solutions Inc. (HTS), which is based in Columbia, Maryland for approximately $300 million in September. From a business combination accounting […]
The FAR Council issued a final rule on January 29, 2015, which increased reporting and compliance obligations for government contractors by amending multiple sections of the Federal Acquisition Regulation (FAR) to strengthen protections against human trafficking in Federal contracts. The rule implemented Executive Order 13627, “Strengthening Protections Against Trafficking in Persons in Federal Contracts,” and […]