As you may know, as the result of a joint project with the International Accounting Standards Board (IASB), the Financial Accounting Standard Board (FASB) issued Accounting Standards Updates (“ASU” or…..
Type: Blog Post
Important Payroll Tax Changes for Employers
January 1 brings some important payroll tax changes for employers: PFMFL tax rates: Total premiums are now 0.8% of total gross wages up to the social security cap. More information can be found…..
Employee Spotlight – Eric Lee
Eric has worked in public accounting since 2017. He specializes in international taxation but his His experience spans a wide range of industries, including construction, manufacturing, and distribution. learn more…..
Shareholders of S-Corporations: As we move into December, there are two things you need to do
Self-Employment Health Insurance Deduction Shareholders who own more than 2% of the shares in the S-corporation are required to report health insurance premiums paid on…
How to Find the Right Accountant for Your Law Firm
While law firms require heavy client-focused work and require hours of your time dedicated to the needs of each individual case, the planning, structure, and financial management of your practice…..
How a Dental Office Should Choose a CPA
As a dental professional, there should be one priority: the health and wellbeing of your patients. Every dental practice strives for their patients to leave in better condition than when…..
Employee Spotlight – Cris Mejia
Cris started working at Shannon & Associates in January 2021. He discovered the firm through an online job fair at Central Washington University and is now a vital team member……
Employee Spotlight – Ronee Jones
Ronee is a 51-year-old grandmother of five who did not always see herself on her current accounting path. Facing a sudden career change, she began attending college taking advantage of…..
Impact Event Brings Businesses and Clients Together for a Weekend Retreat
For the past seven years, Shannon & Associates, along with several other great business partners, has had the opportunity to sponsor an event called Impact. Learn all about this year’s event…
Details on The Inflation Reduction Act of 2022
On Tuesday, August 16, 2022, President Biden signed the ‘landmark’ Inflation Reduction Act (IRA) into law. The Act includes $437 billion of appropriated funds and is expected to generate $737 billion in revenues over the next decade, resulting in a deficit reduction of $300 billion plus. A breakdown of…