WILLIAMS OVERMAN PIERCE ACCOUNTING NEWS

Winter 2021 Non-Profit Newsletter

In this issue: What is the Private Non-profit Sector Going to Look Like in the New Post-COVID Environment? Questions Audit Committees Should Consider in the Current Environment Federal Funding Terms Demystified Directors & Officers Liability Insurance for...

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Williams Overman Pierce, LLP Celebrates 50th Anniversary

Williams Overman Pierce is proud to announce that the firm has achieved the distinction of being in business for 50 years, proudly serving clients since 1971. Williams Overman Pierce was founded in Greensboro, NC in 1971.  Over the past 50 years, the firm has seen...

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Keys to Year-End Tax Savings for Businesses

Whatever 2021 holds, these tips can help lower your tax liability 2020 has been an unpredictable year. Businesses have faced all-encompassing challenges ranging from protecting employee health and safety to managing unexpected costs to dealing with severe fluctuations...

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Forgiveness of PPP Loans May Reduce R&D Credit

Background The forgivable loan program known as the Paycheck Protection Program (PPP) was established by the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to provide financial resources to small and mid-size businesses to enable them to maintain...

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Is a COVID-19 Baby Boom in the Cards for Real Estate?

The impact of blackouts, national emergencies, recessions and other singular or cyclical events on the U.S. birth rate has been a subject of study and interest since the Baby Boomer phenomenon displayed the far-reaching effects a population surge can have on...

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Optimizing Operations: Uncover Tax Relief Opportunities

Although companies that have managed to survive up to this point will have overcome immediate safety and cashflow problems, they still face an uncertain future. No one can predict how long the downturn will last, whether the world will revert into crisis mode or...

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R&D Tax Credit FAQs For Large and Small Businesses

The federal R&D tax credit benefits large and small companies in nearly every industry. Common questions and answers related to the R&D tax credit and those specific to small businesses are outlined below. What is the R&D tax credit? Created in 1981 to...

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Fall 2020 Non-Profit Newsletter

In This Issue: President Signs Protecting Nonprofits From Catastrophic Cash Flow Strain...Into Law "Are We Paying Our Executives Appropriately?" FASB Issues ASU on Contributed Non-financial Assets IRS Proposes Excise Tax Relief For Exempt Organization Executive...

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The Great Experiment: Remote Work and the New Reality of Real Estate

There’s no question the global pandemic of 2020 quickened trends of the future that were hitting the wall of the present: Employers resistant to allowing employees to work remotely suddenly had no choice as localities enacted mandatory stay-at-home measures....

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Addressing Missed 401(k) Plan Deadlines During COVID-19

The COVID-19 pandemic has put many extra burdens on 401(k) plan sponsors. In addition to navigating all of the uncertainty related to the economy and workplace safety, plan sponsors have had to keep an eye on regular retirement plan procedures and deadlines. Often,...

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The Path to Retail Recovery

COVID-19 has shaken nearly every aspect of the retail industry. Retailers have been grappling with never-before-seen store closures, supply chain disruptions and personnel changes. Even as the country slowly opens back up for business, we know retailers will continue...

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IRS Adds New FAQs On CARES Act Payroll Tax Deferrals

The IRS recently added numerous frequently asked questions (FAQs) on the payroll tax deferrals under the Coronavirus Aid, Relief, and Economic Security (CARES) Act (P.L. 116-136). Although the FAQs cannot be relied upon as legal authority, they are an indication of...

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