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Bea Nahon Honored with WSCPA CEO Award

Posted by Emily Taibl on Aug 7, 2020 4:10:08 PM

Sweeney Conrad Principal, Bea Nahon, was recently honored by the Washington Society of CPAs with the 2020 CEO Award for Leadership and Dedication to the WSCPA and the accounting profession in Washington State. This prestigious award recognizes an individual (or organization) who has made a significant contribution to the success of the profession.

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Topics: Tax, Sweeney Conrad People

COVID-19 Recovery: How the Employee Retention Credit Could Improve Cash Flow

Posted by Sweeney Conrad, PS on Jul 30, 2020 3:16:49 PM

As post-COVID recovery efforts gain momentum, many businesses are taking a fresh look at some federal stimulus and tax relief programs they had not previously considered. One such program, the employee retention credit contained in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, could be especially useful in helping companies bring back furloughed or laid-off employees.

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Topics: Tax, News, COVID-19

Interview: LifeWire's Mission to Put a Stop to Domestic Violence

Posted by Sweeney Conrad, PS on Jul 23, 2020 6:12:26 PM

Domestic violence is often a silent issue. With the rise of COVID-19, survivors are struggling at an even greater rate. This week we caught up with Kelly Becker, Development Director of LifeWire, to learn more about their mission to end domestic violence, how COVID-19 has affected their efforts, and how the community can help.

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Topics: Nonprofit Organizations & Private Foundations, Sweeney Conrad Passion, COVID-19

Corporate Mergers and Spinoffs: How Your Retirement May Be Affected

Posted by Wende Wadsworth, CPA on Jul 14, 2020 2:11:53 PM
If your company is involved in a merger or spinoff, you’ll need to plan carefully for how your qualified retirement plan will be affected. Failure to plan ahead for the impact of a merger or spinoff on your plan could lead to unintended consequences.
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Topics: Audit & Assurance, Retirement Reporter, Employee Benefit Plans

Correcting Plan Errors: SCP vs. VCP

Posted by Wende Wadsworth, CPA on Jul 14, 2020 1:58:41 PM

Despite your best efforts to remain compliant, operational errors are sometimes made in the administration of employee retirement plans. When errors occur, you generally have two main options for correcting them:

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Topics: Audit & Assurance, Employee Benefit Plans

Retroactive Tax Relief for COVID-19 Losses

Posted by Sweeney Conrad, PS on Jul 9, 2020 7:27:32 PM

While stimulus checks and forgivable loans have received a lot of attention during the COVID-19 shutdown, businesses should not overlook other available relief provisions that could help them reduce taxes and improve cash flow. Several of these measures could enable a business to file amended federal tax returns to recover taxes paid in previous years and request a refund.

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Topics: COVID-19

More Investors Qualify For Relief Under CARES Act Expansion

Posted by Sweeney Conrad, PS on Jul 1, 2020 11:05:04 PM

The IRS recently announced expanded required minimum distribution (RMD) relief under the CARES (Coronavirus Aid, Relief, and Economic Security) Act.  Here is what has changed for investors:

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Topics: Tax, COVID-19

Accounting for Paycheck Protection Program Loans and Forgiveness

Posted by Stacey Monson on Jun 30, 2020 1:53:11 PM

The American Institute for Certified Public Accountants (AICPA) recently issued a Technical Question and Answer (TQ&A) that provides guidance on accounting for loans issued under the Paycheck Protection Program (PPP).

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Topics: Audit & Assurance, News, COVID-19

Interview: Food Lifeline's Mission to End Hunger Amidst COVID-19

Posted by Emily Taibl on Jun 25, 2020 5:41:34 PM

COVID-19 has had a tremendous impact on our community in a number of ways including creating economic complications for many families in Western Washington. We recently caught up with Nate Pedigo, Director, Corporate Foundation Relations at Food Lifeline to learn more about how Food Lifeline is working hard to fight hunger in our region, and for ways that we can help.

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Topics: Sweeney Conrad Community, Sweeney Conrad Passion

How to Build and Run an Effective Governance Committee

Posted by Wende Wadsworth, Audit Shareholder on Jun 17, 2020 6:58:20 PM

As an employee benefit plan sponsor, you could face harsh consequences for failing to satisfy ERISA requirements as they relate plan fiduciaries. One of the best ways to defend against these liabilities is to form an effective employee benefit plan governance committee.

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Topics: Audit & Assurance, Employee Benefit Plans

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