Galasso Learning Solutions: GASB 94
Issued in in April 2020, it contains additional accounting and financial reporting guidance for types of Public-Private and Public-Public Partnerships not within GASB 60 or GASB 87. “Public-Private and [...]
These SC Counties are Offering Pandemic Relief Grants for Small Businesses and Nonprofits
SCACPA is aware of two counties that have announced pandemic relief grants targeted for small businesses. KERSHAW COUNTY Eligible small business owners may apply for the Small Business Stabilization [...]
Galasso Learning Solutions: FASB Effective Date Delays for Certain Entities
FASB has proposed a one-year delay of revenue recognition for private company franchisors. In addition, public and nonpublic nonprofits will receive a delay along with nonpublic entities. The delay [...]
View From the Dome (April 24, 2020): accelerateSC Revitalization Task Force Goes to Work
By Copper Dome Strategies Friday, April 24, 2020 Gov. Henry McMaster lifted some restrictions on public access to beaches and waterways and announced the creation of a task force [...]
Galasso Learning Solutions: SAS 140
This is part of a larger suite of SASes that is designed to change the auditor’s report. The goal here is conforming amendments to various sections. What questions do [...]
Galasso Learning Solutions: GASB 93
Issued in April 2020, GASB 93 addresses a major global impact. What questions do you have? Send your questions to melisa@galassolearningsolutions.com. Tune in to the Galasso Learning Solutions SCACPA [...]
SCACPA Website Login Alert: New Features Include Easier Secure Access Option
During this difficult season, SCACPA has your best interests in mind as we develop ways to get you the information you need as quickly and easily as possible. To [...]
Here are Recommendations for Administrative, Filing and Payment Relief for State and Local Taxes During Pandemic Response
The AICPA Tax Policy & Advocacy Team has created a list of suggested administrative, filing, and payment relief for state and local taxpayers in response to the COVID-19 pandemic. [...]
Your Turn to Ask the Questions: Make Time for Livestream Webinar ‘COVID-19 Update: Part III with Town Hall’
COVID-19 Update: Part III with Town Hall (LIVESTREAM) (LITX44) When: Friday, April 24, 2020 (8:30 a.m.-12:30 p.m.) CPE Bank Hours for Members: 4 Price for Nonmembers: $160 Register now [...]
View from the Dome: McMaster Announces ‘Accelerate South Carolina’ Revitalization Plan, Details to Come
By Copper Dome Strategies Friday, April 17, 2020 Gov. Henry McMaster extended the COVID-19 Emergency Order for another 15 days until Monday, April 27. South Carolina's public schools will [...]
Galasso Learning Solutions: GASB Delays Nine Standards
Keep up with all SCACPA updates specific to the Coronavirus/COVID-19 situation at www.scacpa.org/covid-19-response-and-resources At GASB’s teleconference meeting on April 14, a vote passed that delays standards by one year [...]
PPP & CARES Act Resources Update: PEEC statement, Recommendations for PPP Lenders Docs, AICPA Chat Function, and More
Keep up with all SCACPA updates specific to the COVID-19 situation at www.scacpa.org/covid-19-response-and-resources Here are new and updated documents and links to help those with CARES Act and Paycheck [...]
SBA Updates Guidance, FAQs on Paycheck Protection Program
Keep up with all SCACPA updates specific to the Coronavirus/COVID-19 situation at www.scacpa.org/covid-19-response-and-resources Here is the latest information to help CPAs as they assist small businesses. (UPDATED: April 15, [...]
SCACPA Advocacy Helps Cut Through Your Regulatory Red Tape
SCACPA knows you work hard to operate your business the right way. But the odds are good that someday – through no fault of your own – you will [...]
SCDOR Offers Filing and Payment Relief Information for South Carolina Taxes
In response to expanded tax relief provided by the IRS, the South Carolina Department of Revenue is providing additional tax filing and payment relief. You can review Information Letter [...]
SCACPA Presents Livestream Webinar “Paycheck Protection Plan Loans: Explained” with Art Werner, Bradley Burnett and Lynn Nichols
Paycheck Protection Plan Loans: Explained (LIVESTREAM) (LITX43) When: Friday, April 17 (8:30 a.m. - 10:10 a.m.) CPE Bank Hours for Members: 2 Price for Non-members: $80.00 Event Description Register [...]
FASB Releases Staff Q&A Guidance on Treatment of COVID-19 Lease Concessions
As promised at their meeting early this week, the Financial Accounting Standards Board has issued a staff Q&A addressing how lease concessions related to COVID-19 should be treated from [...]
IRS Extends More Tax Deadlines for Individuals, Businesses with Notice 2020-23
Keep up with all SCACPA updates specific to the COVID-19 situation at www.scacpa.org/covid-19-response-and-resources The IRS released Notice 2020-23 on Thursday, April 9, to extend more tax deadlines for individuals [...]
View From the Dome: Here are Details of General Assembly’s Unresolved Continuing Resolution Situation for State Operations Budget
By Copper Dome Strategies Friday, April 10, 2020 The General Assembly returned to Columbia on Wednesday for a one-day session but left without a plan to keep the government [...]
Update on CPAs Acting as an Agent and Getting Paid for PPP Loan Services
Keep up with all SCACPA updates specific to the COVID-19 situation at www.scacpa.org/covid-19-response-and-resources SCACPA hears your frustration around providing services to your small business clients as they apply for Paycheck [...]
Galasso Learning Solutions: 2020 Q1 in Review
Keep up with all SCACPA updates specific to the Coronavirus/COVID-19 situation at www.scacpa.org/covid-19-response-and-resources The first quarter of 2020 started much like any other year’s first quarter. Obviously, it didn’t [...]
Board of Economic Advisors Reduces SC FY20-21Tax Revenue Estimate by $643.5M
Keep up with all SCACPA updates specific to the Coronavirus/COVID-19 situation at www.scacpa.org/covid-19-response-and-resources South Carolina’s Board of Economic Advisors presented data on Thursday afternoon that show state tax revenue [...]
Galasso Learning Solutions: This Week in A&A (April 9, 2020)
Keep up with all SCACPA updates specific to the Coronavirus/COVID-19 situation at www.scacpa.org/covid-19-response-and-resources The second week of April definitely had major impacts on standard setting. The Not-For-Profit Advisory Committee [...]
CPAs and Your PPP Frustrations: How SCACPA is Working for You
Keep up with all SCACPA updates specific to the Coronavirus/COVID-19 situation at www.scacpa.org/covid-19-response-and-resources At SCACPA, we hear the frustrations of CPAs throughout South Carolina. We share those frustrations about [...]
SCDEW VIDEO Q&A: Chief Administrative Officer Jamie Suber Answers SCACPA Member Questions on Filing; Plus SCDEW FAQs
Keep up with all SCACPA updates specific to the Coronavirus/COVID-19 situation at www.scacpa.org/covid-19-response-and-resources SCACPA wants to thank our members for taking advantage of the forums of SCACPA Connect, our [...]
Gov. McMaster Issues ‘Stay-at-Home and Work’ Order for South Carolina
Source: South Carolina Chamber of Commerce Gov. Henry McMaster announced Monday afternoon he had issued Executive Order 2020-21, putting a mandatory “Home-or-Work Order” in place beginning Tuesday, April 7, [...]
SCACPA Presents Upcoming Livestream Webinars on “COVID-19 Tax Law Developments” with Art Werner, Bradley Burnett and Lynn Nichols
COVID-19 Tax Law Developments: Tax Effects of Coronavirus (COVID‐19) and CARES Act (Livestream codes LITX41 and LITX42) Dates and Times: Register for Livestream LITX41 on Wednesday, April 8 (9 [...]
View From the Dome: General Assembly Will Convene for One Day on April 8; State Elections Leader Suggests List of Voting Adjustments
By Copper Dome Strategies Friday, April 3, 2020 The General Assembly will briefly return to session in Columbia for one day next week. Gov. Henry McMaster closed all public [...]
Thinking Through the Issues of the ‘Paycheck Protection Program’: Should CPAs Offer to be a Loan Agent?
SCACPA knows that many CPAs are analyzing the rules of the Treasury Department’s Paycheck Protection Program application. While there are many ways you can help your small business clients, [...]
Treasury Dept. ‘Paycheck Protection Program’: Help Your Small Business Clients, and You Can Act as Loan Agent
The Department of Treasury has released the Paycheck Protection Program application and supplemental information, all available on their website. The AICPA is providing a page on "SBA Paycheck Protection [...]