Resource HubAll Articles
Presentation of Covid-19 Related Federal Programs on the Schedule of Expenditures of Federal Awards
4/22/2021
New aid provided by federal agencies in response to the COVID-19 pandemic can impact the presentation of your organization’s Schedule of Expenditures of Federal Awards (SEFA), Notes to the SEFA, and Federal Audit Clearinghouse Data Collection Form (DCF). As you prepare for your audit, it is important to understand the funding you received and identify the COVID-19 related funds separately on the SEFA provided to the auditors to support an effective audit. Read more!
GovCon Updates of the Week Part 4
4/21/2021
Want the latest updates on the Biden administration's 2022 budget request, small disadvantaged business (SDB) federal contract percentages and the U.S. Army biosurveillance systems? Read more!
Provider Relief Funds - Reporting and Audit Requirements
4/20/2021
When Congress passed the Coronavirus Aid, Relief and Economic Security (CARES) Act, it established the Provider Relief Fund (PRF) to support American families, workers and healthcare providers in the battle against COVID-19. Read more!
CARES Act Employee Retention Credits for Nonprofit Employers
4/20/2021
Many nonprofit organizations were forced to shutter or temporarily close their operations under a governmental order as a result of the coronavirus pandemic, while others were forced to severely limit their offerings. One way to continue to pursue your organization's objectives is to ensure that you are still able to function, even if only in a limited capacity. Read more.
Nonprofit Data Breach Vulnerabilities and How to Avoid Them
4/20/2021
As more people are shifting to digital lifestyles and remote operations, data is being passed through the internet now more than ever. Proportionate to this, however, are the opportunities for potential compromise of the data, particularly via a data breach. Read more.
Nacha's Supplementing Data Security Requirements Rule
4/20/2021
Nacha’s Supplementing Data Security Requirements rule expands the existing ACH Security Framework to explicitly require large, non-financial institution Originators, Third-Party Service Providers, and Third-Party Senders to protect account numbers (consumer and non-consumer) used in the initiation of ACH entries by rendering them unreadable when stored electronically. Read more!
IRS Issues Final Regulations on UBTI
4/19/2021
On Dec. 2, 2020 the U.S. Treasury and IRS published final regulations under Internal Revenue Code (IRC or Code) Section 512(a)(6), the provision requiring tax-exempt organizations with more than one unrelated trade or business to calculate unrelated business taxable income (UBTI) separately with respect to each trade or business. Read more!
The M&A Metrics Software Companies Need to Know
4/16/2021
Software companies may be surprised by the metrics used to gauge their value and growth potential during M&A. Knowing what investors look at is core to the deal negotiation process. Read more!
GovCon Updates of the Week Part 3
4/15/2021
Want the latest updates on the U.S. State Department's IT modernization, President Biden's nomination of Michael Brown for the Under Secretary of Defense for Acquisition and Sustainment (A&S) and the American Jobs Plan? Read more!
Reingruber Alert: FRVS Survey Data Submission Deadline
4/15/2021
DUE APRIL 30, 2021: Submission of updated FRVS survey data to AHCA. The FRVS survey data will be used to calculate your 10/01/2021 FRVS rate.
Why Manufacturers are Looking Forward to Growth
4/13/2021
As more Americans get vaccinations and an economic recovery is within sight, manufacturers can bring lessons learned during the pandemic to accelerate growth. However, a recent BDO poll found that manufacturers are split; some are in growth mode and are focusing on product or service innovation and tech investments, while others are looking to weather the rest of the economic downturn and restructure.
WEBINAR MATERIALS: CMMC Readiness (Part 3) - Where to Start
4/8/2021
By now your cyber score is reported and your plans of action and milestones (POA&Ms) are built. What do you do next? In Part 3 of our series, we share new information released since our last webinar and begin addressing how to approach the CMMC framework at your organization. Access materials from our webinar...
Five Ransomware Themes Keeping Directors Up at Night
4/7/2021
Spoiler alert: If it isn’t already, cybersecurity should likely be on your board agenda at every meeting. Here are the top five takeaways from recent discussions with directors and subject matter experts at regional board roundtables.
GovCon Updates of the Week Part 2
4/7/2021
Want the latest on Artificial Intelligence (AI), the House’s Defense Critical Supply Chain Task Force and the Securing American Leadership in Science and Technology Act (SALSTA)? Read more!
Biden Administration Unveils Tax Blueprint as part of American Jobs Plan
4/5/2021
The Biden administration on March 31, 2021, unveiled a jobs and infrastructure plan, the American Jobs Plan, to address the nation’s pressing infrastructure needs. The plan calls for about $2 trillion in spending over eight years. Read more.
Deadline Extended for PPP Loan Applications
4/1/2021
The U.S. Senate passed legislation (PPP Extension Act of 2021) on March 25, 2021 that provides a 60-day extension for eligible employers to apply for a Paycheck Protection Program (PPP) loan. The House of Representatives approved the legislation on March 16, 2021.
IRS Extends Certain Tax Filing and Payment Deadlines to May 17
4/1/2021
The Internal Revenue Service confirmed in an announcement on March 29, 2021, that individuals have until May 17, 2021 to meet certain deadlines that would normally fall on April 15.
Cares Act Employee Retention Credits for Retail Employers
3/31/2021
The government has supported retail and the continuation of their services with the passage of the CARES Act in March 2020, which includes PPP and the Employee Retention Credit (ERC). Under the CARES Act, companies could take advantage of either the PPP or the ERC, but not both.
Reporting and Audit Requirements for Provider Relief Fund Recipients
3/29/2021
Through the CARES Act and supplemental funding from the Coronavirus Response and Relief Supplemental Appropriations (CRRSA) Act, the U.S. Department of Health and Human Services (HHS) is in the process of distributing $178 billion to hospitals and healthcare providers on the front lines of coronavirus response and relief efforts. Qualified providers of healthcare, services and support may receive PRF payments for healthcare-related expenses or lost revenue due to COVID-19.
GovCon Updates of the Week
3/29/2021
Want the latest on Federal Acquisition Regulation, Health and Human Services Regulatory Changes and Technology Modernization Fund? Read more.
Suzanne Cox Featured in Mobilization Funding Cash Flow Management Webinar
3/26/2021
Cash flow in construction is complex, but managing your company's cash flow shouldn't feel impossible. What you need are a few simple, actionable strategies that will take your cash flow management from chaotic to clear and productive.
Read more!
InWeekly 2021 Power List Honoree: Lee Bell
3/24/2021
We are proud to announce that our President, Lee Bell, has been featured in the 2021 InWeekly Power List! Read more.
WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part 10
3/24/2021
Our speakers break down PPP updates and the latest guidance from the SBA. They will also review the American Rescue Plan Act and Employee Retention Credit updates. Access webinar materials here.
Consolidated Appropriations Act: What Plan Sponsors Need to Know About Retirement Plan Relief
3/23/2021
The Consolidated Appropriations Act, 2021 (CAA), which was enacted on December 27, 2020, is mostly known for the $900 billion it provided in additional stimulus funding for pandemic relief. Additionally, the law contains several useful provisions for retirement plans, including non-COVID disaster emergency relief, multiemployer and defined benefit plan changes, and updates to partial plan terminations. Read more.
What Individuals Need to Know About the American Rescue Plan Act
3/22/2021
The American Rescue Plan Act of 2021 (ARPA), signed into law by President Biden on March 11, 2021, provides additional major relief to individuals and businesses that continue to be impacted by the COVID-19 pandemic. The ARPA provisions related to individual taxpayers. Read more.
Cares Act Provider Relief Fund: FAQsAccounting, Audit and other Compliance Reporting Considerations
3/18/2021
On January 15th, 2021 the U.S. Department of Health & Human Services (HHS) released updated guidance on the Provider Relief Fund reporting requirements. This amended guidance is in response to the Coronavirus Response and Relief Supplemental Appropriations Act (Act). The Act was passed in December 2020 and added an additional $3 billion to the PRF along with new language regarding reporting requirements.
New IRS Guidance Regarding Tax Due Date Change 2021
3/18/2021
On Wednesday, March 17th, the U.S. Treasury Department and Internal Revenue Service extended the due date of individual Federal income tax returns and the deadline to make contributions to IRAs and HSAs from April 15, 2021 to May 17th, 2021.
Nacha's Limitation on Warranty Claims Rule
3/18/2021
Effective June 30, 2021, Nacha’s Limitation on Warranty Claims Rule will expressly limit the time in which an RDFI may make a claim against the ODFI’s authorization warranty.
Practical Matters: FAQs For Plan Sponsors and Employees On CARES Act Relief
3/11/2021
The Coronavirus Aid, Relief and Economic Security (CARES) Act was a rapid response by the federal government to help businesses and employees cope with the economic issues caused by the pandemic. Many aspects of the wide-range law make significant changes affecting employer-sponsored retirement plans and their participants.
Clint Allen Earns Certified Public Accountant Designation
3/11/2021
We are excited to announce that Clint Allen has officially been designated as a Certified Public Accountant (CPA). Clint worked hard to complete the parts required to pass the CPA exam, and that hard work has paid off!
CFPB Finalizes HPML Escrow Exemptions
3/11/2021
The Consumer Financial Protection Bureau (CFPB) issued a final rule amending the higher-priced mortgage loan (HPML) escrow rule. The final rule exempts certain insured depository institutions and insured credit unions from the requirements to establish escrow accounts for HPMLs.
Camille Benacci Earns Certified Public Accountant Designation
3/10/2021
We are excited to announce that Camille Benacci has officially been designated as a Certified Public Accountant (CPA). Camille worked hard to complete the parts required to pass the CPA exam, and that hard work has paid off!
To Compete in Fintech, Banks Must Build on Pandemic-Driven Digital Transformation
3/9/2021
Lockdowns during the pandemic precluded face-to-face transactions at bank branches, forcing even “late adopter” banking customers to embrace digital banking and compelling financial institutions to roll out digital alternatives for those transactions—sometimes overnight. When the pandemic eventually subsides, banks may be tempted to rein in those digital transformation initiatives.
How Does the Stock Market Perform When Interest Rates Rise?
3/5/2021
CLIENT QUESTION OF THE WEEK: How does the stock market perform when interest rates rise? Many believe the recent rise in interest rates is a reflection of investors' expectations for a strong economic recovery, certainly the desired outcome from the COVID-19 pandemic...
Nacha's Differentiating Unauthorized Return Reasons Rule - Phase 2 Becomes Effective April 1, 2021
3/3/2021
Nacha is implementing the Differentiating Unauthorized Return Reasons Rule in two phases. Phase 1 became effective on April 1, 2020, and Phase 2 becomes effective on April 1, 2021. Read more!
WEBINAR MATERIALS: CMMC Readiness (Part 2) - Let's Talk Plans of Action & Milestones (POA&Ms)
2/26/2021
In Part 2 of our series, we will share a fresh round of information including valuable insights on creating and fulfilling POA&Ms, identifying, documenting and correcting gaps, and leveraging your work to help with CMMC compliance. Access webinar materials here.
Your Employees Can Be the Best Cybersecurity Defense
2/24/2021
Cybersecurity continues to be a major topic of discussion everywhere you go and shows no signs of slowing down. From ransomware to phishing attacks, the new normal is not if your company will get breached, but when, and your employees are your best asset to fighting that cybercrime.
White Paper: Manufacturing Outlook, 2021 & Beyond1st Quarter 2021 insights from the Saltmarsh Manufacturing Team
2/23/2021
This White Paper discusses what 2020 taught us, overcoming challenges for Florida manufacturers and eliminating supply chain disruptions. No one saw this coming. One year after the first cases of coronavirus were reported in the U.S., we’re suffering through a pandemic that has not lost its grip on the country. While the availability of a vaccine gives reason for hope, manufacturers throughout the Sunshine State are suffering...
WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness PART 9
2/17/2021
Our webinar breaks down the PPP provisions, discusses the latest guidance from the SBA and eligibility for second draw loans. Access webinar materials here.
Supplementing Fraud Detection Standards for WEB Debits Rule
2/16/2021
Currently, ACH originators of WEB debit entries are required to use a “commercially reasonable fraudulent transaction detection system” to screen WEB debits for fraud. Effective March 19, 2021, Nacha will enhance this rule to make it explicit that “account validation” is part of a “commercially reasonable fraudulent transaction detection system.”
Ephemeral Messaging: To Preserve, Or Not to Preserve, That Is the Question
2/14/2021
The conversations we have with others over the phone, by the water cooler or in someone's office are all ephemeral. There's typically no trace of those conversations. Someone might attest to the fact that it happened, but unless it was recorded, it's gone. Some messaging apps for mobile devices offer features similar to the transient, in-person conversation. Those messages are encrypted and last for a short period of time (hence the term "ephemeral"). To update the old saying, "here today, gone in 30 seconds."
Suzanne Cox Featured in Mobilization Funding Fraud Webinar
2/3/2021
Fraudsters and cybercriminals are targeting the construction industry now more than ever, and issues like bid-rigging and manipulated change orders are a constant risk. But, protecting your company, and yourself, from fraud is simpler than you think.
New Same Day ACH Processing Window
2/2/2021
Effective March 19, 2021, this new rule expands access to Same Day ACH by allowing Same Day ACH transactions to be submitted to the ACH Network for an additional two hours every business day. Learn more...
WEBINAR MATERIALS: CMMC Readiness (Part 1) - NIST 800-171 and Your Cyber Score
1/28/2021
Our webinar shares valuable perspectives on navigating these new CMMC requirements. We will focus on key considerations and common questions, including breaking down CMMC and NIST 800-171 requirements and ways to leverage your NIST 800-171 for CMMC compliance.
WEBINAR MATERIALS: Current Update on CARES Act Provider Relief Fund Reporting
1/21/2021
This webinar focuses on the latest information relating to Medicare and Medicaid cost reporting implications, mandatory reporting requirements for recipients of $10,000, and more. Access webinar materials here.
Reingruber Alert: Some Good News for CARES Act PRF Recipients
1/19/2021
There's some good news for Provider Relief Fund recipients in the healthcare industry! Read the latest Reingruber Alert to learn more.
Fen Shi Earns Certified Public Accountant Designation
1/15/2021
We are excited to announce that Fen Shi has officially been designated as a Certified Public Accountant (CPA). Fen has been working hard to complete the parts required to pass the CPA exam and that hard work paid off!
WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness PART 8
1/12/2021
On December 21st, Congress passed the long-awaited $900 billion COVID-related Tax Relief Act (COVIDTRA) as part of the Consolidated Appropriations Act, 2021. In this webinar, we break down the PPP provisions, discuss the latest guidance from the SBA, and more. Access materials here.
What Are Roth Conversions?
1/12/2021
Roth Conversions... what are they? Why are they important? When are they appropriate? Financial Advisor Chris Stennett, CFP®, is here to give you a quick breakdown of Roth Conversions and how they can be incorporated into your investment strategy.
Reingruber Alert: Single Audit Update
1/12/2021
The Compliance Supplement Addendum is here! Released by the Office of Management & Budget on December 22, 2020, the Addendum covers lots of important information regarding Single Audits. Read the key takeaways here.
Congress Passes $900 Billion COVID Relief Bill
12/22/2020
Late Monday, December 21, Congress passed the long-awaited COVID-related Tax Relief Act (COVIDTRA) as part of the Consolidated Appropriations Act, 2021. It provides expansion of the Paycheck Protection Program (also known as PPP2), expanded unemployment benefits, and direct payments to taxpayers. Read key highlights.
Saltmarsh Announces Internal Promotions of 2021
12/17/2020
We're proud to announce the internal promotions of 10 team members! These individuals showcase great leadership skills and represent various departments across the firm.
Glenn Scharf Featured in Vic.ai Accounting Podcast
12/15/2020
Shareholder and practice leader of our Outsourced Accounting Services (OAS) department, Glenn Scharf, CPA, CVA, is no stranger to the accounting world with his broad range of expertise in taxation, process engineering, business consulting, and tax management solutions services.
Recently, Glenn joined Joshua Feinberg, host of Vic.ai’s The AI in Accounting Podcast to share how he got into accounting, and how accounting and information technology go hand in hand.
Natural Disaster Casualty Losses
12/14/2020
Did you know that losses of property due to natural disasters are deductible as personal casualty losses on your tax return? This means if you suffered damage from Hurricane Sally that resulted in your property losing value, you might be entitled to a tax deduction for that loss.
WEBINAR MATERIALS: Maximizing 2020 Year-End Tax Planning
12/10/2020
As the world continues to contend with the COVID-19 pandemic and ongoing impacts, individuals are seeking ways to avoid risks and plan for a recovery that’s anything but certain. With 2020 finally coming to a close, you should be finalizing year-end tax planning strategies and preparing for changes to come in 2021. Access materials here.
WEBINAR MATERIALS: CARES Act Grants - Updated Reporting Requirements & Latest FAQs
12/10/2020
In this webinar, we go over updated reporting requirements that have been defined along with basic guidance addressing the potential need for a single audit by some recipients. Presented by the Saltmarsh Healthcare leadership team. Access materials here.
Christina Doss Featured in Bella Magazine's Resilience Issue
12/8/2020
In the December 2020 “The Year of Resilience” issue of Bella Magazine, Managing Director of Saltmarsh Financial Advisors, LLC, Christina Doss, AAMS, weighs in on the importance of financial planning and shares pointers on how to create financial resilience.
Selecting an Anti-Money Laundering Software for Your Institution (Part 2 of 3)
12/1/2020
(Part 2 of 3) Selecting your financial institution’s anti-money laundering (AML) software is a highly critical and usually expensive decision. There are five key decision-making steps to help avoid common pitfalls during the process: planning, implementation, initial testing, activity analysis, and ongoing maintenance.
IRS Provides Guidance on Deductibility of PPP Loan-Related Expenses
11/23/2020
The IRS released guidance in April that indicated eligible expenses funded by PPP loan proceeds would not be deductible for federal income tax purposes to the extent of any loan forgiveness, thus offsetting the tax-exempt loan proceeds. But would expenses be nondeductible in the year they were incurred (2020) or in 2021, if the loan proceeds were forgiven at that time? The IRS has finally provided guidance on this timing issue.
WEBINAR MATERIALS: Understanding Single Audit Requirements for the Healthcare Industry
11/12/2020
As a result of receiving CARES Act funds in response to COVID-19, many healthcare organizations now will be subject to Federal audit requirements regarding the use of those funds. Access materials here.
WEBINAR MATERIALS: Accounting Innovation
11/12/2020
Over the past several months it has become more apparent than ever that running your business on the go is imperative. From streamlining accounts payable and accounts receivable processes to paying and receiving money electronically, we'll explore the tools you can implement today! Access materials here.
2020 Year-End Tax Planning Highlights for Businesses
11/11/2020
As the world continues to contend with the COVID-19 pandemic and its economic fallout, businesses are doing all they can to mitigate risks and plan for a recovery that’s anything but certain. Read on to explore the tax relief tactics that can help take your business from reacting to the day-to-day challenges to taking advantage of those incentives that are available to help move your business forward.
Creating a Culture of InnovationFireside Chat
11/4/2020
In this first-ever Saltmarsh Fireside Chat, Kristen Stogniew, Esq., CFE, and the panel tackle an important issue not often associated with community banking – innovation.
2020 Year-End Tax Planning Highlights for Individuals
11/2/2020
As the year-end approaches, individuals should be reviewing their situations to identify any opportunities for reducing, deferring or accelerating tax obligations. Areas that should be looked at in particular include tax reform provisions that remain in play, as well as new opportunities and relief granted earlier in 2020 under the CARES and SECURE Acts. This article highlights specific areas and provides preliminary inflationary adjustment items for 2021 as of October 15, 2020.
Selecting an Anti-Money Laundering Software for Your Institution (Part 1 of 3)
10/27/2020
(Part 1 of 3) Selecting your financial institution’s anti-money laundering (AML) software is a highly critical and usually expensive decision. There are five key decision-making steps to help avoid common pitfalls during the process: planning, implementation, initial testing, activity analysis, and ongoing maintenance.
5th Annual Construction Industry UpdatePresentation Materials & Recordings
10/23/2020
Our 5th annual event discussed key issues expected to impact the construction business landscape in the coming year and beyond. Program materials and recordings are available on-demand.
CARES Act Provider Relief Funds: Webinar Q&A
10/20/2020
For all of our clients and friends who attended Part IV of our CARES Act webinar series, we have attempted to consolidate all of the questions and our answers as of October 8, 2020. Please keep in mind that the situation is very fluid, that the answers to these questions may change based on future guidance.
The Newest Internal Revenue Form
10/9/2020
“Oh, no…. not another IRS Form to complete!”
This will be the reaction of several people that need to complete the new Non-Employee Compensation Form (Form 1099-NEC) which was just released by the Internal Revenue Service.
WEBINAR MATERIALS: CARES Act Grants - Reporting Obligations & Latest FAQ Revisions
10/8/2020
Now that detailed reporting requirements and basic guidance addressing the single audit implications have been published, this webinar will focus on these critical obligations and more! Access materials here.
Vanessa Nieto Earns Certified Public Accountant Designation
9/30/2020
We are excited to announce that Vanessa Nieto has officially been designated as a Certified Public Accountant (CPA).
WEBINAR MATERIALS: Mandatory Compliance is Here - Is Your SNF Team Ready?
9/24/2020
Mandatory Corporate Compliance for skilled nursing centers is here! Our webinar will include an overview of Fraud and Abuse laws including the False Claims Act, compliance auditing and monitoring, how to demonstrate effectiveness, and the 60-day rule that applies to Medicare overpayments. Access webinar materials here.
The Virtual Career Fair Playbook
9/22/2020
Career fairs! While it might feel like the world has stopped, recruiters are still working hard to pursue talent in this newly saturated job market. Whether you are entering the job market fresh out of school or are job hunting for the first time in a while, virtual recruiting is uncharted territory for all of us; try out these tips at your next virtual career fair to push yourself over the top and land that dream job!
WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part VII
9/17/2020
In this webinar we provide real-world scenarios to answer your common questions related to the deadline to file, payroll taxes, potential new bills, and latest guidance. Access webinar materials here.
Benefits of Community Involvement for Young Professionals
9/9/2020
The benefits of community involvement are far-reaching – and not reserved for seasoned professionals deep into their careers. Navigating the world post-graduation may be daunting for young professionals but getting involved with community organizations can bring joy while preparing you for the workforce.
ALLL: Do Big Banks Know Something that Community Banks Don't?
8/28/2020
Community banks are fighting many headwinds, the remote working environment, squeezed net interest margin, and deferral of loan payments to name a few. One thing most community banks may not have addressed is the need to increase their Allowance for Loan and Lease Losses (ALLL) for COVID-19 related risk.
WEBINAR MATERIALS: CARES Act Provider Relief Funds for Post-Acute & Long-Term Care Providers, Part III
8/27/2020
This webinar focused on the rules and guidance related to the CARES Act fund distribution, which have undergone near continuous updating and modification since these relief funds began to be distributed. Access webinar materials here.
Notice Season Has Arrived... What to Do Now?
8/20/2020
There are a few key things to do when you receive a tax notice so I want to take just a few minutes of your time to explain why these notices are being sent, how you can respond to them on your own, and when to get a professional involved.
WEBINAR MATERIALS: Strategies for Maximizing PPP Loan Forgiveness, Part VI
8/20/2020
Our webinar provides real-world scenarios to highlight key aspects of PPP and answer your common questions related to the deadline to file, payroll taxes, potential new bills, and latest guidance. Access webinar materials here.
Bank CFO Update: Comments Regarding Recent Regulatory Guidance on Loan Modifications
8/18/2020
With all the attention on PPP loan origination and forgiveness, the issue of how to account for loan modifications has been left simmering on a back burner. In recent weeks, two regulatory releases provided helpful and practical guidance for community bankers already thinking about how best to consider the proper loan credit grade for loans impacted by COVID.
Saltmarsh Named Among Top 200 U.S. Accounting Firms by INSIDE Public Accounting
8/13/2020
We have once again been ranked among the Top 200 accounting firms by INSIDE Public Accounting (IPA).
"Our firm grows through the success of our clients, and during these uncertain times our dedicated team has stepped up to provide quality client services that allows our clients to thrive," said Lee Bell.
Client Portals
Contact Us
FORT WALTON BEACH
(850) 243-6713
ORLANDO
(407) 203-8990
NASHVILLE
(615) 661-0885
PENSACOLA
(850) 435-8300
TAMPA
(813) 287-1111
info@saltmarshcpa.com
(800) 477-7458
