Jameson & Company, CPAs

Webinar Recording Now Available for Free Download

Ed Jameson — Tue, 14 Feb 2012 16:52:10 +0000

Our monthly webinar has become a very popular accounting resource for entrepreneurs and small business owners across the country looking toward Government Grants & Contracts as a non-dillutive funding source.

However, we understand that not everyone can be made available for a Webinar that is held only once a month, nor can they wait another 4 weeks for the next presentation when they require the information now.

That is why we now carry a copy of our informative Webinar free for download! (Thanks to the team at the Larta Insitute!)

If you would like to request a copy of our latest recorded Webinar, or register for an upcoming live Webinar, you may do so through the Free Resources section of our website.

Intuit Tax ID Scams

Ed Jameson — Fri, 10 Feb 2012 15:21:51 +0000

Be wary of Scammers this Tax Season. A new Intuit Tax ID Scam has been brought to our attention, and we want to ensure everyone takes the necessary steps to avoid giving away critical information to Phishers looking to steal your vital information. Quickbooks and Quicken users may be effected.

The scam uses emails to request users to update their Intuit Tax Information. By clicking the link, it will take you to a fake website where they will capture your data as you enter it.

As a precaution, anytime you’re about to click on a link inside an email, always hover over the link to see what address your being taken to. If it doesn’t look right, it probably isn’t.

Check out this blog on Forbes for more information:

http://www.forbes.com/sites/kellyphillipserb/2012/02/06/dont-be-fooled-by-intuit-tax-id-scam/

PHS 2012-2 Omnibus Solicitation for SBIR/STTR Grants Now Available

Ed Jameson — Tue, 07 Feb 2012 17:46:14 +0000

Via the NIH Grants Website:

January 31, 2012

The PHS 2012-2 Omnibus Solicitation of the NIH, CDC, FDA, and ACF for SBIR/STTR Grant Applications and SF 424 (R&R) Application Guide for SBIR/STTR Grant Applications are now available. The solicitation consists of: (1) parent funding opportunity announcement (FOA) for SBIR, (2) aparent FOA for STTR, and (3) narrative descriptions of the programs and research topics (in PDF - 1 MB and MS Word - 1 MB formats).

Due Dates for CY 2012 – April 5, August 5, and December 5.

**AIDS and AIDS-related applications are due May 7, September 7, 2012, and January 7, 2013.

NIH Lowers Executive Salary Cap by $20,000

Ed Jameson — Tue, 17 Jan 2012 17:14:59 +0000

Bad news for NIH Principal Investigators and Executives. Due to the passage of H.R. 2055 on 12/23/2011, NIH has reduced their Salary Cap from Executive Level 1 ($199,700) to Executive Level 2 ($179,700). Final Guidance on the Salary Cap implementation is likely to be released sometime this week.

It is expected that NIH will require this cap for FY2012 funds awarded on or after 12/24/2011, but will be revealed in full detail once NIH’s guidance is finalized.

All new proposals going forward must utilize the new Executive Level 2, $179,700 cap. This will have a major effect on University NIH Grants, R01′s, and SBIR/STTR and the direct salary received from these awards.

Information to come, but in the meanwhile, you may read the details via Page 76, Sec 203 of the following document released in conjunction from the Department of Labor & Department of Health and Human Services

http://rules.house.gov/Media/file/PDF_112_1/HR2055CRbill/pcConferenceDivF-BillOCR.pdf

3 Thoughts on SBIR Re-Authorization & Accounting in 2012

Ed Jameson — Tue, 03 Jan 2012 21:31:55 +0000

We are excited to see our hard work toward SBIR Re-Authorization has proved successful. Our firm was at the fore-front of the battle, attending fly-in’s toWashingtonDCand contacting our Representatives to talk about the importance of Job Creation and American Innovation via the SBIR/STTR Programs.

Considering the new Re-Authorization however, some of our clients & contacts have checked in with our firm over the past few weeks, wondering what the new Re-Authorization will mean for SBIR Accounting moving forward.

The answer is obvious, but more important than ever…. SBIR Accounting compliance is required by Federal law. Whether you’re an SBIR Sole-Proprietor working out of your home office, or a budding success story of the program, the laws and rules still apply.

In particular with the new Re-Authorization, you should pay attention to these important changes that will affect you and your new proposals:

1. All Eyes on SBIR– With the passage of SBIR in a somewhat controversial National Defense Bill that has seen passage, a lot of eyes will be on the program, especially during the heat of a Presidential Election year. With more money in the pool, more eyes will be watching to ensure tax-payer money is being spent appropriately. Because of this timing, we are anticipating more audits than ever before.

2. SBIR/STTR Awards are Larger — Considering Phase I and Phase II awards will see significant increases, budgeting and accounting will become more complex than what was seen in 2011 and years previous. We anticipate that grantors in the SBIR program will come across the OMB A-133 audit (For companies with > $500k in annual grant revenue) far more often than in years past. You will no longer be able to squeak by with a $499,990 grant. Phase II’s are now set to $1.5 million, meaning a 2 year award will see $750k in revenue each year. The OMB A-133 audit will test 40 separate functions within your accounting system to maintain compliance. This audit is a Federal requirement, and you will be responsible to submit it (DOE & NIH, take particular note). Failure to do so can lead to criminal prosecution, heavy fines, holds on funding, and freezes on future proposal submissions and awards.

3. Phase I Can Now Be By-passed – This is great news for many small businesses who have immediate feasibility and are on the Fast Track to commercializing their goods & services. However, if you bypass Phase I, you will be required to be immediately implement a compliant accounting system. Your Accounting System must be able to differentiate between Direct, Indirect & Un-Allowable costs, track Job Costs across all assigned cost pools, and Develop & Project Indirect Rates. Since Phase II is typically Cost + Fixed Fee, negotiating your indirect rate immediately upon winning an award is as important as ever. Taking a provisional indirect rate by your agency, will almost always handcuff the growth of a company and cost them thousands of lost dollars left on the table. Projecting and negotiating your true indirect rates are absolutely imperative for a growing successful business, and are a requirement for most SBIR awarding agencies.

Our firm is nationally recognized as the Go-To CPA firm for SBIR Accounting. Have a question? Please feel free to message me on linked-in, or contact me via phone or email.

Best of luck in 2012, and we hope to see you soon at an SBIR event,

–Tom Pistone

Business Development Manager
Jameson & Company CPAs LLC

781-862-5170 x110 | tom@jamesoncpa.com

www.jamesoncpa.com | www.twitter.com/jamesoncpa

SBIR Call to Action (via Rick Shindell)

Ed Jameson — Mon, 05 Dec 2011 22:01:53 +0000

We are forwarding this message to you from SBIR Advocate Rick Shindell of Zyn Systems& SBIR Gateway. A call to action is being made to ask Congress to pass the National Defense Authorization Act (NDAA) for fiscal year 2012, which includes the complete Re-Authorization of SBIR/STTR/CPP. This will extend SBIR until 2018! The House & Senate will meet this week to work out the differences between the House NDAA Bill and the Senate NDAA Bill. Please read the SBIR Insider excerpt below, and get involved to help urge our Represenatives to pass this important bill!

Via Rick Shindell, SBIR Insider 12-4-2011

Dear SBIR Insider,

There is something important going on right now that we believe you should consider acting on. Although many of you write to us asking what you should do, we refrain from making suggestions because our job is to help you be well informed about the SBIR landscape so you can make your own decisions as to what you feel is appropriate.
We are going to make an exception in this issue, and tell you what we would do if in your shoes, then explain why. This has to happen before close of business Tuesday, December 6, 2011.

Brief Background

The Senate and House have now passed their own versions of the huge National Defense Authorization Act for Fiscal Year 2012 (NDAA). Senate version is at:http://www.gpo.gov/fdsys/pkg/BILLS-112s1867es/pdf/BILLS-112s1867es.pdf. The House version is at: http://www.gpo.gov/fdsys/pkg/BILLS-112hr1540eh/pdf/BILLS-112hr1540eh.pdf. Included in the Senate version of NDAA is the complete reauthorization of SBIR/STTR/CPP, from the language of the Senate’s earlier SBIR compromise bill S.493. Amongst other improvements discussed many times (see past SBIR Insiders atwww.zyn.com/sbir/insider) this extends the program through September 30, 2018.

The Senate & House will meet this week in what’s known as “conference” to work out the differences in the two NDAA bills. The House is more than squeamish about including the Senate’s SBIR language in the NDAA, and certain powers that be in the House are working to strike the SBIR language as we speak. They will most certainly accomplish this unless we, as individuals and collectively as a community of businesses try to intervene.

What’s Being Done Right Now

The Small Business Technology Council (SBTC) is rallying its members to sign on to a letter they have composed for the House & Senate leadership, urging them to keep the SBIR language in the NDAA (full text of the letter at the end of this email).

What You Can Do

This is your opportunity to be a strong voice and sign on to this letter. You do NOT have to be a member of SBTC. Here’s all you need to do:

Send an email to alec@sbtc.org with your name, your company name, and your company address/location. Tell SBTC it is to be used only in support of their letter to the House & Senate Leadership (as shown in the 12-04-11 Issue of the SBIR Insider) concerning the adoption of the Senate’s SBIR reauthorization language (Division E-SBIR and STTR Reauthorization) in the Senate’s version of the NDAA (S. 1867). Your email must be received by Alec at SBTC by close of business Tuesday, December 6, 2011.

The Inside Skinny

Powerful special interests as well as the House S&T and Small Biz committees are pressing to delete this SBIR language from the NDAA. S&T and Small Biz contend that Armed Services lack jurisdiction over SBIR, while others contend that SBIR is not germane to the bill. Non-germane amendments to a bill can kill the entire bill. Some House insiders are privately saying SBIR will never stay in the NDAA.

As for jurisdiction, more than 50% of the total SBIR program is DoD, and it should be noted that Armed Service Committee leaders in both House & Senate extended the DoD’s SBIR program for one year in the 2010 NDAA when the House’s inept S&T and Small Biz committees struggled for a series of several CRs, extending from one to three months. House S&T and small biz not only gave short shrift to the DoD (which forced the Armed Services to act), but to the entire SBIR program).

With the Senate’s SBIR language now being included in the NDAA, even BIO has come out in favor! (see http://www.bio.org/media/press-release/bio-praises-senate-passage-sbir-reauthorization).

The House leadership is likely to support Graves & Velazquez to try and remove SBIR from the NDAA, and that’s why it is hoped that a letter with many small business signatures will create an environment for the leadership to support SBIR inclusion. I can’t guarantee the letter will work, but it’s up to you to try. Senators Landrieu, Snowe, Levin and others did their part. Will you?

Read the full 12/4/11 edition of SBIR Gateway

Text From SBTC Letter To House &Amp; Senate Leaders

Dear Leader Reid, Leader McConnell, Speaker Boehner and Leader Pelosi:
We write today to express our strong support for the reauthorization of two programs critical to the nation’s small business: the Small Business Innovation Research (SBIR) and the Small Business Technology Transfer (STTR) programs. As you may know, the most recent short-term extension of the SBIR program is set to expire on December 16th.

We understand there have been many good faith efforts to reach final legislation and appreciate the ongoing negotiations to reconcile the House and Senate bills. However, after 14 consecutive temporary extensions, it is now time to get a long-term reauthorization of these key, job-creating programs that will provide a vital economic stimulus to jump start the commercialization of new products American products and technologies.

To that end, Senators Mary Landrieu and Olympia Snowe filed the Senate SBIR legislation (S. 493) as a bipartisan floor amendment (S. Amdt. 1115) to the National Defense Authorization Act (NDAA) for Fiscal Year 2012 (S. 1867). This amendment, which was accepted by voice vote on the Senate floor, represents the best pathway by which the SBIR and STTR programs can be reauthorized this year.

We, the undersigned companies, strongly support the Landrieu-Snowe language. We therefore urge you to include in the final version of NDAA a workable, long-term reauthorization of the SBIR and STTR programs that closely tracks this language. The Senate’s SBIR Reauthorization bill is supported by both the small business and venture capital communities, including the National Small Business Association, National Federation of Independent Business, the U.S. Chamber of Commerce, the Biotechnology Industry Organization (BIO), and National Venture Capital Association.

We specifically oppose the addition of controversial provisions from the House version of SBIR reauthorization (H.R. 1425). For example, Section 505 of the House bill would eliminate the competitive, merit-based nature of the program by placing an arbitrary cap on the number of awards that can be given to the strongest SBIR participants. This runs counter to the goals and missions of the SBIR program, and would lead government agencies to invest in “second best” technology. We also oppose Section 105 of the House bill, which would eliminate the critical “Phase I” of the SBIR funding process. Since its inception in 1982, the SBIR program has utilized a three-phase process, under which no technology is given significant federal funding before feasibility is proven in an independent, peer-review process. Section 105 of the House bill would compromise this basic protection of the tax payer dollar. Finally, we oppose increasing the participation of firms that are majority-owned by venture capital interests beyond the parameters established in the Senate bill.

The SBIR program was created to increase the participation of small, high technology firms in federal research and development efforts. The program is widely recognized as having met these objectives and encouraged entrepreneurs to innovate and grow the US economy. Since the creation of the program, recipients of SBIR and STTR awards have provided small firms with $28 billion, and these firms have produced more than 85,000 patents, generating millions of well-paying jobs across all 50 states – as well as playing a key role in keeping our nation at the forefront of defense technology and scientific innovation.

In conclusion, we hope you will work with your colleagues this month to achieve final SBIR and STTR legislation that can be signed into law.

Sincerely,

(Close of letter)

___________________________________________________________________

End of year planning

On a side note, with deadlines coming and going for new proposals and end of year planning, please keep us on file in case any accounting related questions arise on your pending and incoming federal awards. As a full service CPA firm for government contractors, we can assist you with tax planning, accounting system implementation, audit representation, indirect rate negotiation, true up reporting, budgeting, etc. Visit our website, or contact me to inquire on our services or to ask a question.

Sincerely,

Tom Pistone

Business Development Manager
Jameson & Company CPA LLC

781-862-5170 x110
tom@jamesoncpa.com | www.jamesoncpa.com

Senator Mary Landrieu’s Letter to SBIR/STTR Advocates

Ed Jameson — Fri, 02 Dec 2011 19:58:51 +0000

We’ve posted Senator Mary Landrieu’s press release to SBIR/STTR Advocates today on her work to push SBIR Re-Authorization through. We’ve also included some information on how you can do your part, and urge Congress to help pass the Bill and engage in a compromise with the Senate before it goes to President Obama for passage.

Read the Press Release below and take part in urging Congress to Re-Authorize:

From: Senator Mary L. Landrieu, Chair, Senate Committee on Small Business & Entrepreneurship

Subject: Spread the Word: SBIR/STTR One Step Closer to Finish Line

Date: December 1, 2011

Dear SBIR/STTR Advocates,

This week, by a unanimous voice vote, the Senate amended the National Defense Authorization bill to include a reauthorization of the Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) programs for another eight years giving small businesses confidence that the program is going to go on.

Prior to this vote, Congress had passed 14 temporary extensions of the SBIR and STTR programs since 2008. Unfortunately, the fight is not over. There is one more hurdle to jump over to make it to the finish line. We must make sure our colleagues on the House side do not strip this crucial legislation as with years past.

You may think this bill will easily pass the House with bipartisan support given the overwhelming bipartisan support in the Senate and broad support from groups such as the National Small Business Association, the National Federation of Independent Businesses, the U.S Chamber of Commerce and BIO. The Senate version has the most support and we hope the House will join us in getting a long-term SBIR/STTR reauthorization across the finish line.

Please call your Member of the House and urge them to speak to their colleagues who will be involved in these negotiations to reach a compromise before the National Defense bill is sent to the President. We must stress the importance of this legislation; we must make sure they understand the necessity of these programs to keep our nation on the forefront of defense technology and scientific innovation.

You can read more about this wonderful news below.

All the best,

[Mary L. Landrieu]

Did you know?

This reauthorizes the programs for 8 years.
The amendment increases the SBIR program allocation by one percent, from 2.5 to 3.5 percent, over ten years, and increases the STTR program allocation from .3 percent to .6 percent over six years.
It makes firms majority owned and controlled by multiple venture capital firms eligible for up to 25 percent of the SBIR funds at NIH, NSF and DoE and up to 15 percent of the funds at the other eight agencies. The authority is in effect for five years, as modified by Sen. McCain.
3 percent of the SBIR allocation will go to administrative, oversight and processing costs if there is an allocation increase.
The amendment increases the award guidelines for SBIR and STTR awards from $100,000 to $150,000 for Phase I and from $750,000 to $1 million for Phase II, allowing for one sequential Phase II.

[---- end of letter ----]

The Small Business Technology Council (SBTC), an advocacy group working hard to help support SBIR Re-authorization, created a letter which you can forward to your congressional leadership. (Read that letter to Conress here) If you’d like to include your signature to support this letter to Congress, email ALEC@SBTC.ORG with your name, company name and company location.

December 16th is coming quickly, and much work is left to be done, but there is a light at the end of the tunnel!

–Tom Pistone
Business Development Manager

Spotlight on our iPad Winner from SBIR-Lousiana

Ed Jameson — Tue, 15 Nov 2011 19:27:04 +0000

Congratulations to Lettie Harkins, Business Manager of NuPotential Inc. in Baton Rouge Lousiana. She won our iPad Giveaway last week at the SBIR-LA Conference in New Orleans. Her firm has been one of the largest recipients of NIH SBIR funding in Louisiana, and are finding some great success from their Research & Development.

NuPotential, Inc. works in the field of epigenetics and cell reprogramming. We are improving cell reprogramming technologies and developing epi-drugs.

NuPotential is a small biopharmaceutical company developing next generation epigenetic therapies against non-communicable diseases such as Type 2 Diabetes, Alzheimer’s, Parkinson’s, obesity and cancer.

NuPotential is seeking partners to expand its focused Epi-drug library as well as evaluate our library for cancer activity.NP is seeking to secure funding and/or strategic alliance partnership(s)to develop lineage specific differentiation technologies, develop NP’s Disease in a Dish cell line and validate it as a model for Type 2 diabetes and Adipogenesis/Obesity, and begin pre-clinical studies for additional NP epidrug targets in Type2 Diabetes, Obesity and Cancer.

Visit their website at www.nupotentialinc.com

National Fall SBIR Conference – New Orleans – Nov 6-9th

Ed Jameson — Tue, 01 Nov 2011 14:33:23 +0000

Jameson & Company will be present for the National Fall SBIR Conference in New Orleans this November 6th-9th. Attend our Skills Track on SBIR Accounting, or visit our booth to ask a question, get more information, or set up a time to discuss your questions and needs with our firm.

For more information on SBIR-LA, visit their website at www.sbirla.org

Larta Institute – Members Only Free Webinar for Accounting

Ed Jameson — Mon, 31 Oct 2011 20:13:00 +0000

Are you a member of the LARTA Institute? If so, we are putting on a Larta Institute Members Only Webinar this December 7th to coincide with the December 5th NIH SBIR Submission deadline.

The event will be focusing on NIH SBIR Accounting, and will be tailored to the unique needs of Larta Members.

Learn to Avoid the Common Mistakes made on the Cost Portion of Grant Proposals

Too often, small businesses spend hundreds of hours on the technical section of their SBIR/grant proposal while ignoring critical aspects of the cost portion. Researchers typically give only passing consideration to indirect cost recovery through the grant process. Consequently, research is financially leveraged more than need be, and/or it sacrifices precious equity at a stage when it has little market value.

In this strategy-packed, open-forum webinar, you’ll learn best practices, tips, and techniques honed over 30 years by our CEO, Ed Jameson. You’ll come away with not only dozens of insights and tactics, but also a higher comfort level that you are doing everything you can to secure optimal financial returns for your awards and insure compliance with the FAR and other regulations.

Here’s just a sample of what we’ll cover in this dynamic session:

Hard Caps vs. Soft Cost Caps
How to find additional resources & tools – Frequently Free!
The Multiplier: How much do you charge for $1 paid for labor?
Labor Utilization Rate: The most important factor in projecting your costs!
Strategies to get objective benchmarking on your specific cost proposal
And much more!

Don’t spend valuable time learning the ropes of federal contract management requirements. Let us walk you through step-by-step from the comforts of your office.

*Attendance is limited to due to Open-Forum Presentation*

Register for our Larta Institute Members Only Webinar – Dec 7th, 2011 at 2:30pm

**Click here to Register**