Blog | Albin Randall & Bennett
Recent Articles
Exit Planning in an Uncertain Economy: Business Growth Opportunities Remain Despite COVID-19 Crisis
As a business owner, exit planning is inevitable. From planning to implementation, exiting a business often takes about 3-5 years, so a comprehensive exit plan
IRS Issues Notice 2020-39: Provisions Provided for QOF Investors Affected by COVID-19
The 2017 Tax Cuts and Jobs Act introduced legislation surrounding the Opportunity Zone Program, a tax incentive program allowing tax breaks for those investing in
MANP Issues Guidelines for Safely Reopening Nonprofit Organizations in Maine
All sectors of business in Maine have been affected by the COVID-19 crisis, and nonprofits are definitely no exception. As our communities, businesses, and organizations
Tax Planning for 2020, A Pandemic Year
This year is already turning out to be a unique one, in terms of its uncertainty associated with the COVID-19 pandemic. It seems like so
Qualified Improvement Property –Error Fixed!
The CARES Act was passed in late March, largely to provide stimulus and emergency assistance to individuals and businesses adversely impacted by the coronavirus pandemic.
FASB Issues ASU Delaying Effective Date for Revenue Recognition & Lease Accounting Standards for Certain Entities
The COVID-19 pandemic has significantly impacted the global economy, and U.S. businesses are no exception. On June 3, 2020, the Financial Accounting Standards Board (FASB)
How Does COVIDTRA Legislation Affect Craft Breweries?
On December 27th, President Trump signed the COVID-Related Tax Relief Act (COVIDTRA), a $908 billion relief package, into law. The legislation includes new and expanded
MA Clarifies 2020 Tax Treatment of PPP Income, EIDL Grants, & SBA Debt Relief Subsidies
On April 1, 2021, the Commonwealth of Massachusetts passed amendments to House bill No. 89, An Act Financing a Program for Improvements to the Unemployment
IRS Issues Guidance on Employee Retention Credit for 2021
On April 2, 2021, the IRS issued Notice 2021-23, Guidance on the Employee Retention Credit under the CARES Act for the First and Second Calendar
Maine’s Property Tax Relief Programs
Maine has two programs targeted specifically to helping new and established businesses invest for growth by allowing them to recoup local property taxes paid on eligible business equipment and property.
OMB Extends Due Date for Certain Single Audits
The Office of Management and Budget (OMB) issued a memorandum on March 19th, which announced a six-month extension of the due date for certain single