TBS Management Workbench

3% Income Tax Withholding Requirement Delayed

2010-10-01T11:39:09+00:00

The American Recovery and Reinvestment Act of 2009, which was signed into law on February 17, 2009, delays for one year the new withholding requirement for government payments to contractors under Internal Revenue Code subsection 3402(t). The requirement now applies to payments made after December 31, 2011.

This review, by CPA Ric Nelson of Watkins Meegan, provides all the essentials you need to know.

Tax Law Changes for Businesses in 2010

2010-10-01T10:39:20+00:00

This article, by CPA Ric Nelson of Watkins Meegan, reviews the tax law changes for 2010 for businesses. The changes are the result of tax laws passed and regulations issued over the last couple of years.

Calculators: Hosting with TBS

2010-09-08T13:48:41+00:00

Enterprise Cloud Hosting with TBS not only provides a higher level of security, compliance and integration, it’s a strongly cost-effective solution too. The tables below calculate the costs associated with Enterprise-level deployment for Deltek Costpoint®, Deltek GCS Premier® and Time Collection®, Deltek Time & Expense®, and Deltek Vision®.

If yours is a mid- to small-sized company, you may not require all the components below — though they provide the best basis for a true cost comparison. Simply select the product suites that best meet your needs, remove any items not related to your deployment set-up, and see if the TBS Cloud makes financial sense for your firm.

John Burson on Income Statements

2010-04-12T23:48:20+00:00

What should a design firm's compiled financial statement look like? John Burson details some pointers for highlighting financial details in the A&E accounting environment.

Planning and Control for the Non-Financial Manager

2010-04-12T23:19:56+00:00

The managing principal of a design firm is often an architect or engineer who is a non-financial manager not trained in accounting. In this article first published in A&E Business, John Burson details the key metrics non-financial managers should be aware of in their decision making process.

Password Worst Practice – Avoid It.

2010-03-22T11:20:21+00:00

Password cracking is as easy as 123456, according to a recent study by Impervia of 32 million RockYou.com passwords.

Document Retention Policies: How Long Should You Keep Things On-File?

2009-12-23T14:33:14+00:00

When should you hold on to documents and when should you toss them? This reference guide from Watkins Meegan should help you keep your documents under control.

Financial Audits – Deficiencies & Material Weaknesses & Their Meaning

2009-12-23T13:17:53+00:00

A financial statement audit is designed to express an opinion on the financial statements, not on the entity's internal controls. However, obtaining an understanding of these controls remains a key part of every financial statement audit. Phil Philips, CPA of Watkins Meegan helps explain the language surrounding control gaps and deficiencies.

Uncompensated Overtime & How It Impacts Government Contractors

2009-12-23T13:02:10+00:00

Many government contractors have found themselves in a “discussion” with DCAA auditors regarding uncompensated overtime at one point or another. The following article by CPA Kristen Soles of Watkins Meegan helps provide guidance regarding how to properly account for uncompensated overtime.

Comp Time Policies – Accounting Impacts for Government Contractors

2009-12-23T12:39:45+00:00

The term “Comp Time” is often overused and can mean different things to different people. These suggestions by CPA Stephanie Widzinski of Watkins Meegan, will help guide you as you develop your firm's comp time policy.