PWCPA Blog
Should You Expect Your Tax Return to Be Delayed This Year?
Everything seems to have slowed down these days, thanks to labor shortages and supply chain issues, and the IRS is no exception to this. The IRS has been working with roughly the same number of employees since the 1970s, despite the number of taxpayers increasing...
Common DCAA Compliance Issues for First-Time Government Contractors
Getting started as a government contractor can involve jumping through even more hoops than starting a new business. All government contractors are required to meet DCAA compliance standards, but understanding those regulations—much less actually meeting them—can take...
Can You Make Quickbooks DCAA Compliant?
Quickbooks is an incredibly popular accounting tool for small-business owners. It’s affordable, user friendly, easy to learn, and provides all of the functionalities that most businesses would need. But government contractors have much more specialized accounting...
Navigating Government Contractor Accounting for Business Success
Expanding your small business through government contracts can be a lucrative endeavor, offering a stable income source backed by the reliability and financial capacity of the US government. However, breaking into the government contracting game can be challenging. If...
Empowering Your Teen with Early Credit Building for Government Contractors
Young adults often face challenges when it comes to building credit during their college years. They may encounter difficulties securing certain rentals or face credit card application rejections due to their lack of credit history. It's a frustrating Catch-22 that...
Important Tips to Protect Yourself from Identity Theft
The New Year can be a busy time—for you, and for identity thieves. As we enter tax season, many criminals will ramp up their activity levels, stealing personal identifying information in time to file a false tax return in your name. This allows them to collect a...
5 Signs Your Accounting System Isn’t Up to CAS and FAR Standards
In order to work on government contracts, your accounting system must measure up to the Cost Accounting Standards (CAS) of Federal Acquisition Regulation (FAR). These regulations often differ from basic accounting methods, and it’s important you’re using an accounting...
Navigating College Savings: The Power of 529 Plans for Government Contractors
The staggering student loan debt in the US, which has recently surpassed $1.7 trillion, highlights the increasing importance of a college education in today's job market. Parents strive to ease the financial burden for their children's future by setting up college...
In-House or Outsourced: What’s the Better Option for Your Accounting?
Businesses typically have two options for meeting their accounting needs: in-house or outsourced. Once your company reaches a point that you need a professional accountant, knowing which option to choose can be difficult. How do you determine which option is best for...