Category Archives: Financial

Oct 20

Big Changes to the 1099-K

Source: Maine SBDC What’s the big change? Starting in 2022, third-party settlement organizations (TPSOs) must report any income you receive “for goods and services in excess of $600” to the IRS. Prior to the bill, these processing platforms only reported … Read More

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Sep 03

The Government Purchase Card – Quick and Easy Access to Government Sales

By: GCAP Advisor James Chestnut In a recent interaction with a client both of us determined that their product, trophies and plaques, was not conducive with Government contracting in general. In doing a deeper dive into their business we did … Read More

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Dec 13

SBA Modifies Method for Calculating Annual Revenues for Small Businesses

WASHINGTON – The U.S. Small Business Administration today published in the Federal Register a final rule to modify its method for calculating annual revenues used to prescribe size standards for small businesses. The final rule is effective Jan. 6, 2020. … Read More

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Mar 28

The DUNS number—a unique ID for organizations doing business with the government—will be phased out in favor of a new identifier with a new name and vendor.

By Aaron Boyd, Senior Editor, NEXGOV https://www.nextgov.com/analytics-data/2019/03/federal-contractor-numbering-system-gets-first-new-managing-vendor-after-20-years/155678 March 19, 2019 A new vendor is taking over management of the vendor verification system run through the General Services Administration, ending a 20-year dynasty for the company that established the Data Universal … Read More

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Oct 31

The North Carolina Defense Industry Diversification Initiative (NC DIDI)

By Nimasheena N. Burns, Director Communications and Project Management, NC Department of Military and Veterans Affairs The North Carolina Defense Industry Diversification Initiative (NC DIDI) is excited to announce the launch of the initiatives mapping survey for the state’s defense … Read More

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Aug 30

SBA Seeking Input on Reducing Regulations

Public comments sought regarding regulations to repeal, replace, or modify On August 15, 2017, the US Small Business Administration (SBA) released a request for information (“RFI”) www.gpo.gov/fdsys/pkg/FR-2017-08-15/pdf/2017-17176.pdf seeking input from the public as to which SBA regulations should be repealed, … Read More

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May 03

SBA Releases FY2015 Small Business Procurement Scorecard Marking Federal Agencies’ Contracting Achievements

Release Date: Thursday, April 28, 2016 Contact: Tiffani S. Clements (202) 401-0035 Internet Address: http://www.sba.gov/news Three Federal Agencies Receive A+ Rating on Procurement Scorecard WASHINGTON – The U.S. Small Business Administration today released its annual Small Business Procurement Scorecards, which provide … Read More

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Mar 03

Women-Owned Small Businesses Can Now be Awarded Sole Source Federal Contracts

By David L. Hayden, Of Counsel at Smith, Anderson, Blount, Dorsett, Mitchell & Jernigan, LLPEffective December 31, 2015, contracting officers can make sole source awards to Women-Owned Small Businesses (WOSBs) and Economically Disadvantaged Women-Owned Small Businesses (EDWOSBs). See FAR 19.1506.

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