December 29, 2022/Tax, Press Release, Accounting and Auditing
Smith Leonard PLLC Names Three New Partners
Smith Leonard is pleased to announce Patrick Willis as its newest Tax Partner/Member. He is a key technical resource for the firm, a mentor to many staff members, and an integral part of the tax leadership team.
December 22, 2022/Accounting and Auditing, Tax, Press Release
Smith Leonard Adds New Team Members
Smith Leonard is delighted to announce the addition of Jennifer Barbee-White and Jeanette Balazsi to the SL team.
December 9, 2020/Accounting and Auditing, Press Release
Announcing Scotti Teschke as Partner
Smith Leonard is pleased to announce Scotti Vaughn Teschke as its newest Assurance Partner/Member. She is a key technical resource for the firm, a mentor to many staff members, and is an integral part of the leadership team for employee benefit plan audits.
May 21, 2020/Accounting and Auditing
FASB Approves Deferral of Leasing and Revenue Standards for Certain Private Companies
FASB votes to approve the proposed deferrals of the effective date for ASC 842, Leases (“ASC 842”), and ASC 606, Revenue from Contracts with Customers (“ASC 606”), for certain entities.
April 14, 2020/Accounting and Auditing, COVID-19
FASB Votes to Defer Effective Date of Leases Standard (ASC 842) and Other Accounting Relief
FASB recently proposed a delay to the effective dates of its standards on lease accounting and revenue recognition for certain entities due to the challenges companies are experiencing associated with the coronavirus pandemic. FASB proposes that private companies and not-for-profit entities get an extra year to implement the lease accounting standard. At the same time, the proposed plan will give private franchisor companies an extra year to implement the revenue recognition standard.
April 1, 2020/Financial Planning, COVID-19, Accounting and Auditing, Tax
Required Minimum Distributions Suspended for 2020
RMDs are suspended for 2020, including inherited IRAs as well as traditional IRAs of those over age 70½. We answer two of the most common questions we’ve received in this post.
March 30, 2020/Accounting and Auditing, Tax, Business Planning, Financial Planning, COVID-19
SBA Loan Information
With the economy in turmoil and business uncertainty looming, many of our clients are seeking guidance on how to proceed. One great option is to seek a SBA loan to cover salary expenditures, rent, and utilities for 8 weeks. We outline some of the SBA loan requirements below and are happy to work with you to get your financial packages in order so you may present them to a SBA lender.
March 23, 2020/Accounting and Auditing, Tax, Press Release, COVID-19
Families First Coronavirus Response Act Signed Into Law
The Families First Coronavirus Response Act guarantees free testing for the novel coronavirus (COVID-19), establishes emergency paid sick leave, expands family and medical leave, enhances unemployment insurance, expands food security initiatives, and increases federal Medicaid funding. Read more to find out the impact to employees and employers.
March 17, 2020/Accounting and Auditing, Tax, Press Release, COVID-19
Important News: Tax Payments Delayed; Smith Leonard To Close Offices, Work Remotely
In light of the global coronavirus (COVID-19) pandemic, the firm has made an important decision regarding the status of all Smith Leonard offices. Effective close of business March 17, all SL professionals will be working remotely through the end of March or as circumstances dictate. During this time, all SL offices will be closed.
March 13, 2020/Accounting and Auditing, Tax, Press Release, Business Planning, Financial Planning, COVID-19
SL COVID-19 Response and Update
In this time of uncertainty, Smith Leonard is working diligently to ensure optimal client service while following policies and procedures that protect our team members, clients, and communities. Learn more about our readiness plan and how we are handling the impact of the coronavirus in our business.