Blog | Albin Randall & Bennett
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Accounting for Automotive Inventory: LIFO, Specific Identification, & Valuation Method Considerations
As an automotive dealership, your inventory is your largest current asset, so properly measuring inventories against expenses and revenue is imperative. Key financial and operational
FASB ASU 2020-07: New Standard Addresses Nonprofit Gifts-in-Kind
On September 17th, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2020-07 on Topic 958, Presentation and Disclosures by Not-for-Profit Entities for
Maine DECD Announces Phase II of the Maine Economic Recovery Grant Program
Update as of September 21, 2020: The DECD has announced Phase II of the Maine Economic Recovery Grant Program. Phase I of the Program, launched
A Construction Company’s Guide to Approaching Today’s Risk Management
As with all industries, the construction sector continues to realize the far-reaching effects of COVID-19 crisis. Now, more than ever, it’s imperative for a construction
Best Places to Work in Maine 2020
Every year, spring brings exciting changes to Albin, Randall & Bennett. Not only does it signify the end of tax season, but also the beginning
Some Employers Received an Inadvertent Penalty Notice from the IRS
The Internal Revenue Service issued an official notice back in May, which allowed employers anticipating a refundable credit for qualified sick and family leave or
American Rescue Plan Act of 2021: What Individual Taxpayers Need to Know
On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021 (ARP) into law. “This legislation is about giving the backbone of
Exit Planning for Family Business Transfers
A family business transfer is a common exit path for business owners. Just like any family affair, family business transfers come with benefits and drawbacks.
The Annual ARB Games Return
An Overview of ARB’s Annual Tax Season Games Every year during tax season, Albin, Randall & Bennett hosts the ARB Games. As a way to
The R&D Tax Credit is an Opportunity Construction Companies Can’t Miss
Business owners from all walks of life look for ways to increase cash flow and maximize savings in times of economic uncertainty. For construction companies
American Rescue Plan Act: Where Does It Stand & What Can Taxpayers Expect?
On Saturday, March 6th, The American Rescue Plan Act of 2021 (ARP) made it through a Senate vote (50–49) and was sent back to the