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There are many factors to consider when crafting a commercial property insurance policy that will fit your company’s needs in the wake of a loss. We recommend reviewing your policy provisions in advance to reduce uncertainty. Careful planning and structuring of the policy can set the stage for the recovery process in the event of

What are the benefits and risks? On August 3, FEMA implemented a regulatory change to increase the small project maximum in the Public Assistance (PA) program to $1 million from $139,800. The increase aims to simplify the application process and reduce the administrative burden on nonprofits and government entities that receive a FEMA grant following

The IRS has announced that Florida individuals and businesses affected by Hurricane Ian have been granted tax relief. While we have access to tax relief if needed, the team at Cavanaugh & Co is working diligently to file by the original deadline of October 17, 2022.    For affected taxpayers needing relief, here is some information

The concept of “tax risk” is an increasingly important and regular topic of discussion across organizations and in boardrooms, and for good reason. Businesses that operate across state lines or internationally can in certain cases trigger tax liabilities in jurisdictions where they do not have a physical presence. In addition, many countries are adopting policies

The IRS on August 3 announced it would extend by three years the deadline for amending retirement plans or individual retirement arrangements (IRAs) to reflect certain provisions under the SECURE Act, the Bipartisan American Miners Act of 2019 and the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Many tax-qualified retirement plans, including non-governmental 403(b)

Struggling with your EHR system? You’re not alone. EHR systems present healthcare organizations with the opportunity to improve workflows, enhance the patient experience and generate better clinical outcomes. Unfortunately, EHR systems aren’t always optimized, which can cause more work — and greater headaches — for both your clinicians and patients. Want to know how to

On May 12, 2022, the Office of Management and Budget (OMB) issued the 2022 Compliance Supplement (Supplement). The Supplement is effective for fiscal years beginning after June 30, 2021 and can be accessed on the OMB website.   The Supplement is issued to assist auditors by providing a source of information related to various federal programs

President Biden signed the Inflation Reduction Act into law at a White House ceremony on August 16, finalizing a legislation intended to address inflation by paying down the national debt, lower consumer energy costs, provide incentives for the production of clean energy, and reduce healthcare costs.  The bill moved through the legislative process in near-record

Twelve days after Sens. Joe Manchin (D-WV) and Charles Schumer (D-NY) announced that they had reached agreement on a healthcare, climate and tax bill, the U.S. Senate on August 7 approved the Inflation Reduction Act on a party-line vote, with all 50 Democratic Senators voting for the legislation and all Republicans voting against it, and

Fannie Mae’s new project requirements for condominiums and housing cooperatives took effect in 2022. The requirements apply to all loans for units in high-rise buildings with five or more attached units. Under the new requirements, community associations must pay close attention to several factors that will make units ineligible for loans. Building projects that have