Machen McChesney returns value to clients through our monthly e-newsletter, The Value Report.
Not rendering correctly? View this email as a web page here.
The Value Report - Machen McChesney Business Advisory Insights

As we continue to navigate these uncertain times, the health and safety of our employees and our clients remain our top priority. Living in these extraordinary times, we are confident in our team members' ability to adapt to these temporary changes seamlessly as we will continue to deliver the level of service you deserve. 

Machen McChesney has created a dedicated "Coronavirus Update" link on our website. We will continue to keep it updated and will continue to email our clients as updates become available.

We are here to help, so if you have any questions or concerns, please contact our office and ask for your Machen McChesney advisor. 


 

Table of Content

  1. How to Use Visual Aids in Financial Reporting
  2. CARES Act Provides Option to Delay CECL Reporting
  3. Answers to Questions About the CARES Act Employee Retention Tax Credit
  4. CARES Act Relaxes Qualified Plan and Employee Benefit Rules to Improve Cash Flow for Employer and Employees
  5. Relief From Not Making Employment Tax Deposits Due to COVID-19 Tax Credits
  6. The New COVID-19 Law Provides Businesses With More Relief
  7. Avoid These Financial Hoaxes
  8. A Return to Work in The New Normal
  9. What's New at Machen McChesney

How to Use Visual Aids in Financial Reporting.Graphs-477799640-1Thanks to the Internet and social media, we’re bombarded daily with all kinds of information. As a result, most people prefer clear, concise snippets of data over lengthy text. Have your financial statements kept up with today’s data-consumption trends?. Continue reading.


CARES Act Provides Option to Delay CECL ReportingRelief for banks-1210724013The Coronavirus Aid, Relief and Economic Security (CARES) Act was signed into law on March 27. Among other economic relief measures, the new law allows large public banks to temporarily postpone the controversial current expected credit loss (CECL) standard. Here are the details. Continue reading.


Answers to Questions About the CARES Act Employee Retention Tax CreditTax Relief - 1054011732-1The recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act provides a refundable payroll tax credit for 50% of wages paid by eligible employers to certain employees during the COVID-19 pandemic. The employee retention credit is available to employers, including nonprofit organizations, with operations that have been fully or partially suspended as a result of a government order limiting commerce, travel or group meetings. Continue reading.


CARES Act Relaxes Qualified Plan and Employee Benefit Rules to Improve Cash Flow for Employer and Employees

Health-Wealth-1134798607-1As the number of employers and employees impacted by the novel coronavirus (COVID-19) grows each day, employers with workplace retirement plans may find that employees may be looking to those plans now more than ever to help cover financial hardships they are experiencing. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (H.R. 748) includes several relief provisions for tax-qualified retirement plans, expands health care flexible spending accounts so funds can be used for over-the-counter items, clarifies some health insurance plan questions, and, through year-end, allows employers to reimburse employees for student loan payments tax-free. This alert explains those items. Further guidance will be needed from the IRS and DOL to answer many open questions about how these relief provisions are intended to work. Continue reading   


Relief From Not Making Employment Tax Deposits Due to COVID-19 Tax Creditscoronavirus red background - 1208315128-1The IRS has issued guidance providing relief from failure to make employment tax deposits for employers that are entitled to the refundable tax credits provided under two laws passed in response to the coronavirus (COVID-19) pandemic. The two laws are the Families First Coronavirus Response Act, which was signed on March 18, 2020, and the Coronavirus Aid, Relief, and Economic Security Act (CARES) Act, which was signed on March 27, 2020. Continue reading


The New COVID-19 Law Provides Businesses With More ReliefCoronavirus and business men-1213609118-1On March 27, President Trump signed into law another coronavirus (COVID-19) law, which provides extensive relief for businesses and employers. Here are some of the tax-related provisions in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Continue reading. 


Avoid These Financial Hoaxesscam-1217035370-1Crises can bring out the best in many people — but perversely, they can also bring out the worst. Many scammers are trying to take advantage of the complex bailout provisions for individuals and businesses. Be on the lookout for a surge of calls and emails from scammers trying to cheat you with promises of financial relief, just when you may be feeling desperate. Tax-related fraud and identity theft scammers are out and about looking to make a quick — and crooked — buck. Continue reading.


A Return to Work in The New Normalbefore-during coronavirus-1215512243-1As the response to the COVID-19 pandemic progresses, many companies have established operational crisis management teams and adjusted to global restrictions on work and movement. Executives are now beginning to ask the question: How are we going to return to work?. Continue reading.


What's New at Machen McChesney?

iStock_41667068_LARGE-822670-edited.jpg

Sponsorships, new hires, announcements
Continue reading


We hope you found value in The Value Report you've received this month. We look forward to finding even more ways to Return Value to you in the future. 

Please feel free to visit our website or visit our blog at any time during the month to interact with additional valuable resources and helpful information.
 
If you have any questions on the topics above, please feel free to send us a message.
 
Thanks,
Machen McChesney 
Share our insights with your connections:
   

Montgomery: 1761 Taliaferro Trail | Montgomery AL 36117

www.machenmcchesney.com

You received this email because you are subscribed to Monthly E-Newsletters from Machen McChesney.

Update your email preferences to choose the types of emails you receive.

 Unsubscribe from all future emails