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Secrets to Delivering Successful Consult...

It’s time to shift the concept of accountants from “figure crunchers” to “problem solvers”. As the tax landscape becomes more complicated and confusing with rapidly changing legislation, your customers need a proactive partner, not just a once-a-year order taker. Rising customer expectations for proactive, value-added services have likely driven your business to expand its offerings […]

Weekly Political Compass 10.3.22 | Tene...

The new British government has abandoned some of its plans to cut taxes. Brazil is heading for a second round of presidential elections. Indonesia is the first country to approve an mRNA vaccine developed by China. West African states face a political conundrum in the wake of the coup in Burkina Faso. Meanwhile, there is […]

Non-salary plan (IR35 reform) to be abol...

Chancellor of the Exchequer, Kwasi Kwarteng, revealed the great news in his September 22, 2022 mini-budget that the government is considering repealing off-salary (IR35 reforms). Since then, considerable confusion has spread across social media platforms, with the most common misconception being that “IR35 has been repealed”. This is not the case and the IR35 will […]

Tax Fraud Blotter: three times the fun

No more flying trainer; under the bar; last shot in Clarksville; and other highlights of recent tax cases. Springfield, MO: Carrie Leigh Long, of Ash Grove, Missouri, was sentenced to 41 months in prison for a wire fraud in which she embezzled more than $362,000 from her employer and failed to pay nearly $1 million […]

The scale of the fall in the UK market s...

LONDON, Sept 29 (Reuters) – The fall in British financial assets this week has accelerated a longer historic decline, signaling a loss of international investor confidence that Britain may struggle to restore. Markets have been in turmoil since Finance Minister Kwasi Kwarteng presented a new economic program last Friday. The pound fell to a record […]

Breakfast in, shopping out: US tourists ...

SAN FRANCISCO/NEW YORK/LONDON, Sept 29 (Reuters) – In the weeks leading up to departing for San Francisco on their vacation this month, Jeff Skipper and his wife Valerie, from the United Kingdom, watched helplessly as the US dollar continue its meteoric rise against the British pound. The pound/dollar exchange rate – which fell to a […]

Former Lawrence County prosecutor senten...

FRANKFURT, Ky. – Former Lawrence County District Attorney Michael T. Hogan and his wife and legal secretary, Joy M. Hogan, 41, were sentenced to 42 months and 12 months and one day, respectively, on Tuesday by the District Judge. US District Gregory Van. Tatenhove, for electronic fraud. Michael Hogan was also convicted of federal program […]

How to Retire During a Bear Market – For

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. Imagine retiring in this market. A 60-year-old man who owns a balanced fund – 60% allocated to stocks, 40% to bonds – has seen the value of his investment fall by 18% […]

Analysis: Clubbed pound faces long road ...

A worker walks over a mosaic of pound sterling symbols laid on the floor of the entrance hall of the Bank of England in London, in this file photograph from March 25, 2008. REUTERS/Luke Macgregor Join now for FREE unlimited access to Reuters.com Register LONDON, Sept 26 (Reuters) – The pound’s fall to historic lows […]

What is FATCA (Important Foreign Account...

What is FATCA FATCA refers to the Foreign Account Tax Compliance Act. The concept behind FATCA is to facilitate global tax compliance by having the United States enter into bilateral agreements Intergovernmental agreements with foreign countries, in order to work together to reduce overseas tax evasion and other offences. To date, the US government has […]

Warning – 4% savings rate is best in a D

As the Bank of England hikes interest rates, smaller “challenger” banks are offering eye-catching savings deals. Atom Bank responded by launching a two-year fixed-rate bond yielding 4%, the market’s first, the first time a bank has offered this in a decade. Atom has also increased its Instant Saver easy access rate to 1.90%, and other […]

7 Things to Know About Required Minimum ...

By Roger Wohlner It’s important to understand how RMDs work – make sure you follow the rules Required Minimum Distributions (RMDs) are IRS-mandated distributions from retirement accounts. It’s important to understand how they work to make sure you’re following the rules. Here are seven things to know about RMDs. When should you start RMDs? Effective […]

Stocks fall, dollar soars and bonds plun...

Dow ready to confirm its bear market MSCI All-World Index at 2-year low The dollar hits a new high in two decades Pound, gilts sell off after UK ‘mini-budget’ NEW YORK/LONDON, Sept 23 (Reuters) – U.S. and European stocks fell on Friday, the dollar hit a 22-year high and bonds sold off again as fears […]

Spotlight on Attorney and Tax Practice D...

Our Spotlight series sheds light on the careers and lives of tax professionals around the world. This week’s spotlight is on attorney Mitchell Trager, a FORVIS tax practice manager, where he focuses on incentives and credits. Trager joined FORVIS this year and works from its Atlanta office, serving public and private clients both domestic and […]

DC attorney general sues Liberty Tax for...

The Washington, DC attorney general filed a consumer protection lawsuit against Liberty Tax accusing the tax-prep chain of misleading consumers with misleading ads and promotions and predatory pricing. DC Attorney General Karl Racine’s office filed a lawsuit Wednesday against Liberty, which is the nation’s third-largest tax-prep chain. The lawsuit alleged that Liberty aggressively marketed its […]

Crypto Binocs Tax Reporting App Helps Us...

Tracking tax compliance for cryptocurrency can be tricky, especially since many laws are new (or haven’t been written yet). That is why Binocs Was found. Users integrate their exchanges and wallets, and Binocs provides tax reporting and other accounting details. The startup announced today that it has raised $4 million to expand into markets including […]

MEDIA ALERT — 2023 projections for infla

–(BUSINESS WIRE)–Sep 21, 2022– What: Many Internal Revenue Code amounts are subject to annual adjustments for inflation. Many of these adjustments are tied to the Consumer Price Index numbers released in mid-September. Wolters Kluwer uses these CPI figures to project 2023 adjustments to tax code amounts related to these CPI figures. The IRS will generally […]

Hurricane Fiona victims in Puerto Rico g...

Victims of Hurricane Fiona in all 78 Puerto Rican municipalities now have until February to file various federal personal and business returns and make tax payments. The IRS offers assistance to any area designated by the Federal Emergency Management Agency, which means individuals and households who reside or have a business anywhere in the Commonwealth […]

EXCLUSIVE: Simplifya brings key tax and ...

will simplifya regulatory and operational compliance software platform serving the cannabis industry, has has partnered with CohnReznick to bring key tax and accounting data to its Simplifya Market GuideBenzinga learned exclusively. CohnReznick, which administers major tax and accounting advice to plant contact and ancillary businesses in the cannabis industry, agreed to contribute current tax and […]

Ford Sees Inflation Raise Quarterly Proc...

The logo is seen on the hood of a new Ford Aspire car during its launch in New Delhi, India October 4, 2018. Picture taken October 4, 2018. REUTERS/Anushree Fadnavis Join now for FREE unlimited access to Reuters.com Register Sep 19 (Reuters) – Ford Motor (FN) said on Monday that inflation-linked supplier costs will be […]

Healdsburg accounting firm founder revea...

Renee Mengali was so eager to enter the world of accounting that she graduated from high school at age 16 and a year later graduated in accounting from Heald Business College in Santa Rosa. The love of numbers came from a high school accounting class. She received an exercise book in September of her first […]

Proud Boys memo reveals meticulous plann...

Jhe document is so rudimentary and formal that it resembles the annual minutes of a firm of tax accountants. Its index lists sections on “goals” and “rules of engagement” and features an “addendum” that provides recommendations for hotels and parking. On the cover, two words give a clue to the notoriety of the group that […]

Iowa in mid-pack on education freedom re...

Lindsey M. Burke Lindsey M. Burke is director of the Center for Education Policy at The Heritage Foundation. Governor Kim Reynolds has made education choices a top priority — and she’s right. Among the 50 states and Washington, DC, the Heritage Foundation’s Newly Released 2022 Education Freedom Bulletin ranks 22nd for academic freedom. Although Iowa […]

How to Use Recovery Rebate Credit to Cla...

Who is eligible for recovery rebate credit and stimulus payments? You are only eligible for the recovery rebate credit if the IRS has not granted you a stimulus payment or if you have received a partial payment. To find out if you missed the money you were entitled to, you can contact the IRS, review […]

India’s economic growth will be supporte

Workers load consumer goods onto supply trucks at a wholesale market in Kolkata, India, December 14, 2021. REUTERS/Rupak of Chowdhuri Join now for FREE unlimited access to Reuters.com Register MUMBAI, Sept 17 (Reuters) – A sharp rebound in consumer spending and rising employment will support India’s economic growth in the coming months, the government said […]

Putin’s War and Truss’ Taxes

LONDON, ENGLAND – MARCH 08: British Foreign Secretary Liz Truss arrives to attend the Government Weekly … [+] cabinet meeting in Downing Street on March 8, 2022 in London, England. (Photo by Leon Neal/Getty Images) Getty Images There is a common saying that every tax has the effect of discouraging some form of private behavior […]

Indonesia aims to attract more digital n...

Tourists walk along a beach in the luxury resort of Nusa Dua ahead of Saudi Arabia’s King Salman’s visit to the island of Bali, Indonesia February 28, 2017. Picture taken February 28, 2017. REUTERS/Nyimas Laula/ Join now for FREE unlimited access to Reuters.com Register JAKARTA, Sept 15 (Reuters) – Indonesia is trying to lure more […]

ATO asks professionals about the methods...

The ATO will start contacting professionals to ask about their profit allocation arrangements following the publication of PCG 2021/4 at the end of last year. PCG 2021/4 sets out the ATO’s compliance approach to the allocation of profits or income of professional firms and helps firms manage the associated risks. The guidance entered into force […]

EXCLUSIVE Goodyear settles labor abuse c...

A general view of the Goodyear factory in Shah Alam, Malaysia May 6, 2021. Picture taken May 6, 2021. REUTERS/Lim Huey Teng/File Photo Join now for FREE unlimited access to Reuters.com Register KUALA LUMPUR, September 14 (Reuters) – Goodyear Tire & Rubber Co has reached an agreement to settle a labor dispute at its Malaysian […]

The key measure of poverty in the United...

A homeless man lies in the park with his head covered, during a heat wave in Boston, Massachusetts, U.S. July 21, 2022. REUTERS/Allison Diner Join now for FREE unlimited access to Reuters.com Register Sep 13 (Reuters) – A key measure of the number of Americans living in poverty in 2021 has fallen to a record […]

Depends – Does the accountants concessio

Click here to watch the video In this edition of ‘It Depends’, attorney Jack Colley talks about the accountants’ concession. What is it, how is it different from legal professional secrecy and when will the ATO seek to lift it? Video transcript Welcome to It Depends. Today we are going to talk about the accountants […]

U.S. Supreme Court to settle long-contes...

During its next term, the Supreme Court will address an issue that has vexed taxpayers, the IRS, and many federal courts: how to calculate the penalty for an unintentional failure to file a foreign bank and financial account report, or FBAR. The law in question allows the IRS to impose an unintentional penalty of up […]

Beaumont and Port Arthur school district...

Residents of Beaumont and Port Arthur are unlikely to see significant changes to their education-related tax rates for the coming year. The CIOs of Beaumont and Port Arthur have set their tax rates for the coming year. Two rates make up the overall district tax rate – the maintenance and operating rate and debt service. […]

The 4 Burning Questions You Need to Ask ...

By Alessandra Malito It’s not enough to contribute to a 401(k) – make sure you do it right An employer-sponsored 401(k) or similar retirement account can make saving for the future much easier and more efficient – ​​if you do it right. Retirement tip of the week: If you have a 401(k) plan (or something […]

The Trump accounting firm will decide wh...

A deal announced earlier this month by House Democrats for years of Donald Trump’s financial records allows his former accounting firm to interpret how to satisfy a congressional subpoena that was restricted by a federal appeals court in Julyaccording to a settlement filed Friday evening. Under the proposed settlement, Trump and several of his business […]

China’s August auto sales jump 32% on st

FILE PHOTO: Cars drive on the road during the morning rush hour in Beijing, China July 2, 2019. REUTERS/Jason Lee/File Photo Join now for FREE unlimited access to Reuters.com Register SHANGHAI, Sept 9 (Reuters) – China’s auto sales hit 2.38 million units in August, up 32.1% from a year ago, as they extend a recovery […]

Delhi: MCD seizes Punjabi Bagh Club bank...

The Municipal Corporation of Delhi (MCD) has seized the bank account of the Punjabi Bagh Club for failing to pay property tax in the amount of Rs. 14.18 crore, the civic body said in a press release. A senior MCD official said the civic body takes strict action against defaulters, who do not pay taxes […]

What is a High Deductible Health Plan (H...

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. Are you struggling to pay the high cost of health insurance and want to lower your premiums? Consider a high-deductible health plan (HDHP), which typically offers lower premiums. HDHPs can save you […]

Is the sharing of losses an “indispensab

What makes a partnership a partnership? What makes a partner a partner? To be clear, I am referring to partners in a general partnership. Although the heyday of general partnerships is long gone, replaced by other forms of limited liability business entities, we in corporate divorce still encounter and litigate cases in which two or […]

Australia’s current account surplus swel

Join now for FREE unlimited access to Reuters.com Register SYDNEY, Sept 6 (Reuters) – Australia’s current account surplus widened sharply in the June quarter as resource exports were boosted by both prices and volumes, contributing important to economic growth. Data from the Australian Bureau of Statistics released on Tuesday showed the surplus had climbed to […]

Johnston Carmichael appoints new corpora...

Johnston Carmichael has announced the appointment of Stephen Oates as head of corporate tax. Oates, who joins Johnston Carmichael from French Duncan, has over 17 years of tax experience, with expertise in working with owner-managed businesses. Based in the Central Belt, Stephen will operate as a national resource and support a wide variety of clients […]

Argentina’s Tax Authority Wins Landmark

Argentina’s tax authority (AFIP) has won a landmark lawsuit to seize taxpayer funds in a digital account. The case, which was won on appeal to the Federal Chamber of Mar del Plata, could lead to more such seizures and include cryptocurrencies under a stricter policy of the organization. Argentine tax authority to seize funds […]

These states are waiving state taxes for...

Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We earn commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners. It’s been just over a week since President Joe Biden announced that up to $10,000 in […]

Frisco Small Business QuickBooks CPA | ...

Frisco, USA – September 2, 2022 — The newly expanded service includes part-time CFO services, IRS representation, audits and reviews, and payroll services. Customers can also organize tax preparation and QuickBooks bookkeeping. More information can be found at: https://www.hinckleycpa.com With the latest ruling, the Frisco CPA reduces tax liability for clients and manages financial operations, […]

Former Macau junket boss to appear in co...

A general view of the Macau Peninsula, China, as seen from Macau Tower October 8, 2015. REUTERS/Bobby Yip Join now for FREE unlimited access to Reuters.com Register HONG KONG, Sept 2 (Reuters) – Former Macau junket mogul Alvin Chau is due to appear in court at the world’s largest gambling center on Friday to face […]

More than 16 million households benefit ...

Around 9 in 10 eligible households received a £150 cost of living rebate Anyone who has not yet received the refund can file a claim with the local authority Part of £37billion in government aid handed over to tackle cost of living crisis Around 90% of eligible households have received the £150 council tax rebate […]

Brazilian treasury to present proposal f...

A man is pictured on Paulista Avenue in the financial center of Sao Paulo, Brazil December 8, 2016. REUTERS/Nacho Doce Join now for FREE unlimited access to Reuters.com Register BRASILIA, Aug 30 (Reuters) – Brazil’s economy ministry is preparing a new budget model to be presented after October’s presidential elections, aimed at loosening the constitutional […]

Opinion: The Bizarro universe of the fir...

Links to the breadcrumb PF Comment Neal Winokur: How like Ottawa to conjure up redundancy in an already complicated tax system The basic mechanics of the first home ownership savings account, or FHSA, already exist within the RRSP through the Home Buyers’ Plan. Photo by Peter J. Thompson/National Post Content of the article The federal […]

Axel Royal LLC Confirms Recent Data Brea...

On August 23, 2022, Axel Royal LLC (“Axel”) reported a data breach on the company’s website as well as to various state attorney general offices. According to Axel, the breach resulted in names, driver’s license numbers, state identification numbers, financial account information, payment card information, medical information, health insurance information, security numbers social security, passport […]

How to save tax on the sale of residenti...

If you sell your home after two years (i.e. 24 months) from the date of purchase, the gain, if any, will be treated as a long-term capital gain (LTCG). The LTCG is not only taxed at a flat rate of 20%, but also allows you to claim indexation benefits and provides various investment opportunities to […]

401(k)s should not be overlooked when ch...

Many workers who change jobs in the wake of the pandemic — whether for more money, better opportunities for advancement, or flexible hours — risk overlooking an important factor: their retirement savings. Those who increase their income by changing jobs should be able to save more money, which bodes well from a retirement savings perspective, […]

Former Hillandale Farms accountant plead...

PITTSBURGH — A Canonsburg, Pennsylvania resident pleaded guilty in federal court to conspiracy to commit fraud, conspiracy to launder money and tax evasion, U.S. Attorney Cindy K. Chung announced today. Jonathan A Weston, 58, pleaded guilty on August 23, 2022 to three counts before U.S. District Judge W. Scott Hardy. As part of the guilty […]

Tax Court Says When Deathbed Gifts Are O...

A new case in the Tax Court, CT Memorandum 2022-72, 7/12/22answers the question: when are “death gifts” considered complete for estate and gift tax purposes? Background: There are two powerful tax law provisions that can help most taxpayers avoid federal estate tax altogether or, at the very least, reduce it. 1. Annual exclusion from gift […]

Menasha referendum could be half school ...

reader question: The Menasha School District says its $99.7 million referendum will not increase school taxes, due to repayment of previous debt. I understand, but how much would school taxes go down if the referendum was not passed? Answer: School administrators don’t like to talk about it because they are focused on meeting an identified […]

Kansas House Democrats propose package o...

TOPEKA — Democratic Kansas House candidate Kim Zito earned an undergraduate degree in 1997 and finished graduate school a decade later, but she still struggles with unpaid college loan debt. President Joe Biden’s new federal loan forgiveness initiative would reduce the federal student loan balances of millions of people by up to $20,000. This would […]

New UK PM must be radical to end electri...

Electricity pylons are seen in Wellingborough, Britain March 30, 2022. REUTERS/Andrew Boyers Join now for FREE unlimited access to Reuters.com Register LONDON, Aug 25 (Reuters) – Britain’s next prime minister must adopt sweeping ideas – such as reduced electricity rates, freezing energy bills or a “solidarity” tax hike for high earners – to cushion the […]

CFOs should ask these strategic question...

According to a exam by the Center for Audit Quality in August 2021, 95% of S&P 500 companies have made detailed environmental, social and governance information available in some form. But some regulators, investors and other stakeholders are clearly unhappy with these efforts. Organizations seeking to disclose their ESG activities have faced a wide range […]

Canada’s new Tax-Free Home Savings Accou

New details about Canada’s new Tax-Free Home Savings Account (FHSA) have come out, and it could be a good option for anyone looking to foray into the housing market in the future. FHSA will hit the scene in Canada in 2023 and a recent Press release described what it might look like. The goal of […]

Palestinians working in Israel strike to...

TULKARM, West Bank, Aug 21 (Reuters) – Tens of thousands of Palestinians employed in Israel staged an all-day strike on Sunday to protest the decision to pay their wages into bank accounts instead of cash. The new method of payment was agreed between Palestinian and Israeli authorities seeking a more efficient and safer way to […]

Ketchikan City Council approves seasonal...

Ketchikan Town Hall on June 11, 2020 (KRBD file photo by Maria Dudzak) Sales taxes within the city limits of Ketchikan increase starting next April, but will decrease the following October. Ketchikan City Council on Thursday approved a new seasonal sales tax system in an effort to take advantage of the summer tourist season. https://www.krbd.org/wp-content/uploads/2022/08/19TaxApproved.mp3 […]

With state revenues surprisingly high, Y...

As Virginia took in about $1.9 billion in windfall revenue last fiscal year, Governor Glenn Youngkin’s administration is proposing to invest $400 million in a new state taxpayer relief fund. . “The right thing to do is to return unforeseen income to taxpayersRepublican Youngkin told members of the House and Senate committees that oversee Virginia’s […]

How to Start a Business in Florida (2022...

To start a business in Florida, you will need to choose a business name and decide on your business structure. There are several types of business entities, including sole proprietorships, limited liability companies (LLC), limited liability partnerships (LLP), and corporations. Individual business A sole proprietorship is an unincorporated business that has only one owner. Unlike […]

Tax professionals can help extended fili...

As we approach the October 17 filing deadline for the 19 million taxpayers who have requested extensions, remember that there are important tax credits and deductions, some relatively new, that may provide significant benefits to our taxpayer customers.This year, the IRS has received 19 million requests for extensions through October 17. Tax professionals should carefully […]

Misguided IRS funding for law enforcemen...

Whatever your politics, I think we can all agree that the IRS is underfunded, understaffed, and has ridiculously outdated technology that prevents it from performing even its most basic functions competently or effectively. . While I’m glad the Cut Inflation Act includes significant funding for the IRS, I remain frustrated with the hyper-focus on enforcement […]

Advice on the tax credit for clean vehic...

Treasury and IRS released initial tips Tuesday regarding a new requirement to qualify for the Sec. 30D clean vehicle tax credit, i.e. the car or truck must be assembled in North America. The Inflation Reduction Act, HR 5376, made sweeping changes to the clean vehicle tax credit, including extending it to 2032 and creating a […]

Companies facing new book tax and stock ...

The Cut Inflation Act that Congress passed on Friday includes a new minimum tax of 15% on book income for corporations that earn more than $1 billion in revenue, as well as a 1% tax on share buybacks, and these provisions may affect tax planning. used by larger companies and their accounting firms. The new […]

Explained: how China handles refined fue...

Workers are seen near pumping jacks at a China National Petroleum Corp (CNPC) oilfield in Bayingol, Xinjiang Uyghur Autonomous Region, China August 7, 2019. REUTERS/Stringer Join now for FREE unlimited access to Reuters.com Register SINGAPORE, Aug 15 (Reuters) – China’s refined fuel exports are set to fall in 2022 to a seven-year low as the […]

CEO pay continues to skyrocket, defying ...

The cost of big salaries for corporate CEOs keeps rising, but so does those exorbitant salaries. A new study of CEO pay finds that changes to the federal tax code aimed at limiting executive compensation have done nothing to reduce what companies pay their executives. “Taxes just aren’t a big enough stick to change the […]

ProNovos and Smith + Howard Announce Str...

Bruce Orr and Sean C. Taylor “Our customers are already high performers, but they’re always striving to do even better,” Taylor said. “The tools ProNovos has developed for construction contractors can help them raise their game. We are excited about this strategic relationship and believe our customers will be too. ATLANTA (PRWEB) August 13, […]

The Atal Pension Yojana account of taxpa...

The eligibility rules for opening an Atal Pension Yojana (APY) account will change from October 1, 2022. From October 1, 2022, a taxpayer will no longer be able to subscribe to the Atal Pension scheme. The central government has clarified that if a taxpayer opens an APY account under the APY scheme, their account will […]

Explainer: How might the new U.S. minimu...

Aug 12 (Reuters) – The main revenue stream of the new U.S. tax, climate and drug bill is a new minimum corporate tax of 15% aimed at preventing big, profitable companies from messing with the code of the Internal Revenue Service and reduce their tax bills to zero. The U.S. House of Representatives was due […]

Does the Inflation Reduction Act contain...

The Cut Inflation Act that Senate Democrats managed to pass on Sunday and which is heading for an expected vote in the House on Friday includes a package of tax credits intended to encourage renewable energy and the purchase of electric vehicles as part of a larger package of climate change control measures. But lesser-known […]

The accountant’s “misguided” loyalty to

A senior tax accountant’s misguided loyalty to her client and manager led her to lie to the Australian tax office and ruin her highly successful career, a judge has found. Jennifer Lee Nairne, 64, pleaded guilty to charges of dishonestly influencing a Commonwealth official and using false documents to do so between February 17, 2009 […]

Rackspace technology enables Konesh Miss...

SAN ANTONIO, Aug. 10, 2022 (GLOBE NEWSWIRE) — Rackspace Technology® (NASDAQ: RXT), the leader in end-to-end multicloud solutions, today announced that Konesh®, a company that provides managed services for accounting and tax procedures, chose Rackspace Technology to develop its cloud services infrastructure. Founded in 2009, Konesh, tax and accounting advisory firm, is the third-largest advisory […]

ABA opposes opening law firms to new com...

The American Bar Association is pouring cold water on efforts to loosen restrictions on who can own law firms, including measures that could open up firms to new corporate competition. The group’s House of Delegates on Tuesday passed a nonbinding resolution discouraging changes to state rules prohibiting the sharing of legal fees with nonlawyers. But […]

What to expect from Masters in Accountin...

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. Accounting is a complex field that requires extensive training. A master’s degree in accounting prepares you for management positions and provides opportunities to pursue specialties in the field. Accounting professionals also enjoy […]

Larry Pack will join the Justice Governm...

CHARLESTON, West Virginia – Governor Jim Justice today announced that Larry Pack will join his administration as a senior adviser. “Larry is a dear friend and trusted advisor to me on a range of issues,” Governor Justice said. “He will bring a wealth of wisdom to my administration through his decades of experience […]

Berkshire Hathaway Posts Massive $43.8 B...

Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor during Berkshire Hathaway Inc’s annual shareholders meeting in Omaha, Nebraska, U.S., on 4 May 2019. REUTERS/Scott Morgan//File Photo Join now for FREE unlimited access to Reuters.com Register Aug 6 (Reuters) – Falling U.S. stock prices hurt […]

Get 7% tax-free annual income – ‘beat al

Even though the Bank of England raised interest rates from 1.25% to 1.75% yesterday to curb inflation, savings accounts will continue to disappoint. Millions of people will see the value of their savings DESTROYED in real terms as prices soar. Still, you could earn between five and seven percent a year tax-free in an Isa, […]

Transforming taxation for two: spin-offs...

Companies that have considered the tax implications of a spin-off should also consider the implications for the tax function itself. Otherwise, they risk missing an important opportunity to extract more value from the transformation deal. Spin-offs have grown significantly in volume in recent years. In 2021, we’ve seen some of the largest derivative deals ever […]

South Florida accountants charged with s...

Two South Florida accountants are facing charges after authorities say they stole thousands of dollars worth of tax returns from clients. Juan Mendieta, 50, and Leandro Machado Gonzalez, 26, were arrested on charges of money laundering, an organized fraud scheme and grand larceny, Miami-Dade police officials said Tuesday. Miami-Dade Fixes Juan Mendieta and Leandro Machado […]

Pennsylvanians who qualify for rebates o...

The bonus discounts are part of a proposal Governor Wolf introduced earlier this year to help some of Pennsylvania’s most vulnerable residents. Governor Tom Wolf today announced that older Pennsylvanians and Pennsylvanians with disabilities who qualify for a rebate on rent or property taxes paid in 2021 will receive even more money this year than […]

Dixon City Council considers placing arr...

Dixon City Council will not meet on Tuesday, as Dixon will be one of several towns participating in National Night Out, but it has a special meeting scheduled for Wednesday. The only item on the agenda is a public hearing to consider placing overdue sewer accounts on the property taxes of homeowners with unpaid sewer […]

How can accountants recover 520 hours a ...

The hybrid work models that emerged during the Covid-19 pandemic are here to stay. While some technologies have adapted to meet the needs of a hybrid workforce, many workers still spend at least a quarter of their day navigating disparate systems that often serve a siled purpose, contributing to dissatisfaction. Gallup interrogates 13,779 professionals in […]

Federal emergency savings proposals coul...

Nirunya Juntooomma | Istock | Getty Images It’s no secret that households with sufficient emergency savings are more the exception than the norm. Two proposals in the Senate seek to change this. And, experts say, tackling the problem could allow workers to save more for their golden years. “One of the best ways to protect […]

Mahindra Holidays reports Q1 PAT at Rs 2...

Mahindra Holidays & Resorts India Ltd on Saturday reported consolidated after-tax profit of Rs 29.8 crore for the first quarter ended June 30, boosted by higher revenues. The company had recorded a consolidated after-tax loss of Rs 21.4 crore in the same quarter of the previous financial year, the company said in a regulatory […]

CCH Connections: User Conference 2022

The CCH Connections: User conference is dedicated to providing the skills, tools, and community you need to improve as a tax and accounting professional. Each year, the conference offers new ideas, meaningful collaboration, hands-on learning, deep dives into complex topics, and a glimpse of what’s to come for the industry. Register/More information: https://www.wolterskluwer.com/en/solutions/tax-accounting-us/user-conference Earn up […]

Tax Fraud Blotter: Putting an end to fra...

The mortgage is better; become professional; get me a cell, stat; and other highlights of recent tax cases. Capital Heights, Maryland: Business owners Ercin and Lizette Kalender, of Alexandria, Va., were sentenced to one year and a day in prison, followed by three years of probation, for conspiracy to evade tax on their tax returns […]

A federal bill to legalize marijuana wou...

Over the next year, California officials said last week that the state expects to seize “more than $1 billion in illegal cannabis products.” The announcement came weeks after the US Department of Justice boasted of the guilty pleas of 11 unlicensed California marijuana dealers, who were arrested with the help of state and local law […]

Restivo Monacelli, LLP, a Providence, RI...

On November 15, 2021, Restivo Monacelli, LLP, an accounting, tax and business advisory firm headquartered in Providence, RI, announced that he had joined his practice with WithumSmith+Brown, PC, a nationally recognized CPA and consulting firm with 15 offices and annual revenue of $413 million, ranking among the top 25 companies nationwide. Restivo Monacelli’s eight partners […]

Las Vegas real estate professional plead...

A Nevada man pleaded guilty today to evading taxes he owed to the IRS. According to court documents and statements made in court, from around 2009 to 2019, Scott Lawrence owned and operated Turn Two Inc., a Nevada real estate company. In March 2010, the IRS withdrew Lawrence’s personal bank account to settle an existing […]

RTI Deposit | EPF interest: filing of R...

Under the Employees Provident Fund (EPF) scheme, an employer and an employee are required to contribute 12% of their monthly salary to the provident fund. Previously, interest earned on the employee’s contribution to the Provident Fund (“PF”) was fully exempt from tax (in accordance with section 10(12) of the Income Tax Act 1961 ). However, […]

Art of Accounting: 1/20th Marketing Rule...

It’s still summer and it’s a good time to contact customers who need or might need additional services. Here is a rule that I developed and followed that originally appeared in my Commercialization of tax services book. This column has an updated version. 1/20 rule: Target a meeting with 1/20th of your tax preparation clients […]

Haryana State Criminal Branch arrests De...

Police said the accused had a business degree and no CA degree. Haryana State Crime Branch arrested Delhi-based bogus CA for fraud on GST bill of ₹3 crores. Haryana State Crime Branch has arrested a Delhi-based bogus Chartered Accountant (CA) for fraud on Goods and Services Tax (GST) invoices from ₹3 crores. According to the […]

Rishi Sunak and Liz Truss are vying to r...

But Ethan Ilzetzki, associate professor of economics at the London School of Economics, thinks the leadership debate remains “disconnected” from the nature and scale of the economic challenges: A decade of stagnant productivity levels will not be easily resolved. “None of them have a real plan except to cut taxes,” he told CNN Business. “It […]

5 common questions about retirement RMDs

Required minimum distributions have been in the news lately as Congress strives to pass Secure Act 2.0, which would raise the age at which seniors must begin making withdrawals from government-sponsored retirement plans. employer and individual retirement accounts. The first Secure Act, enacted in December 2019, raised the age at which seniors must take their […]

RSM Named First Certified Executor of Tw...

Bloomberg Tax & Accounting has announced that Chicago-based Top 10 RSM US firms have been named the first certified executor of Bloomberg Tax Provision and Bloomberg Tax Fixed Assets. “We are truly excited to have RSM as the first Certified Implementer for Bloomberg Tax Provision and Bloomberg Tax Fixed Assets,” said Lisa Fitzpatrick, president of […]

Finance & Accounting & Tax Software Mark

Get a sample report Buy the full report New Jersey, United States,- The Global Finance & Accounting & Tax Software Market The study provides a comprehensive review of the market throughout the projection period. The study covers a variety of sections along with an analysis of events and factors that are likely to play an […]

Lagarde’s comments at the ECB press conf

FRANKFURT, July 21 (Reuters) – The European Central Bank raised interest rates by 50 basis points more than expected on Thursday, confirming that concerns about runaway inflation now outweigh growth considerations. The ECB also approved a new bond-buying program called the Transmission Protection Instrument (TPI) intended to limit rising borrowing costs for the most indebted […]

IRS seeks transformation in new five-yea...

Improving the taxpayer experience while overcoming operational challenges that include a shrinking workforce are among the goals the IRS has set for itself over the next five fiscal years. The 26 pages IRS Strategic Plan for Fiscal Year 2022-2026 (Post 3744) was released on Wednesday, broadly outlining the strategic goals for service, application, people and […]

Armani revenue up 20% in first half afte...

The logo of Italian fashion company Giorgio Armani is seen at a store in Zurich, Switzerland July 8, 2021. REUTERS/Arnd Wiegmann Join now for FREE unlimited access to Reuters.com Register MILAN, July 20 (Reuters) – Italian luxury goods group Armani posted a 20% rise in sales at constant currencies in the first half, after hitting […]

How to electronically check the tax retu...

Check here the step by step guide to check tax return online via Demat account. Representative picture The deadline to file your income tax return (ITR) for fiscal year 2021-22 is July 31, 2022. For other taxpayers to whom the audit applies, the deadline to file the return is October 31, 2022 An Income Tax […]

Ensuring Success 2022 – Registration Now

ensure success will take place on December 14 and 15, 2022. Earn up to 16 hours of free CPE at this annual virtual conference. Register now and mark your calendar for success, to ensure you meet your year-end CPE requirements. This one-of-a-kind CPE conference is entirely virtual, so you can attend and earn free CPE […]

Tax breaks you forfeit if you don’t file

The deadline for filing income tax returns (ITRs) for the 2022-’23 tax year (2021-’22 fiscal year) is July 31. This deadline is for individual taxpayers who do not need to have their accounts audited. Failure to meet the deadline not only results in a penalty, but you will also have to forfeit certain tax breaks […]

NRE account: Eligibility to open, uses, ...

As many Indian citizens emigrate from India either for education or employment, it is important for them and their family members here in India to know about the various bank accounts of a person who has become a non-resident under FEMA (Foreign Exchange Management Act) can open here in India. Who can open this account […]

Proposed $5 billion municipal budget rel...

Austin residents may not see such a steep rise in property taxes next year. Still, they could see a 2.7% increase under a budget proposal released on Friday. City Manager Spencer Cronk’s proposed budget of $5 billion for 2023 relies more on municipal fees for services like hydro and garbage collection — not property taxes, […]

Philadelphia renters should probably exp...

Anthony Krupincza, who owns five rental units in North and West Philadelphia, typically pays his tenants’ water bills. But now that some of his property tax bills will nearly triple due to new city assessments, he tells new tenants they have to pay. And it raises rents for tenants who move in or renew. “I […]

Tax evasion blotter: twice the fun

On the way to the palisade; for kids; untrustworthy; and other highlights of recent tax cases. Colombia, South Carolina: Former IRS employee Wayne M. Garvin, 57, was sentenced to 13 months in prison after admitting to making false statements and providing fabricated documents to the IRS to obstruct an audit of those statements . Garvin, […]

The Big Quit: The ‘shameful’ way Austral

An Australian small business owner has lost half of her employees in the space of a few months, calling the situation “heartbreaking”. Australian small business owner Coco Hou has lost almost half of her staff in just a few months and describes the situation as a “big struggle”. Platinum Accounting’s chief executive said the way […]

Accounting vacancy at DuPont

By Nafila Jabir – July 12, 2022 12:15 PM DuPont has issued a call for applications for the position of Accounting Specialist. Responsibilities: Ensure the integrity of the financial statements of the legal entity under his responsibility. This is achieved by following accounting procedures in accordance with local accounting policies, analyzing trends for fluctuation analysis, […]

These 4 Mid-Year Tax Strategies Can Lowe...

seksan mongkhonkhamsao | time | Getty Images 1. Review tax deductions When you start a new job, you complete Form W-4covering the amount your employer withholds from your paychecks for federal taxes. But you need to review these deductions, especially for major life changes such as getting married, having children, or starting a side business. […]

Senate Approves Pennsylvania’s Delayed M

The Capitol of Pennsylvania is shown Tuesday, February 8, 2022 in Harrisburg, Pennsylvania. Lawmakers overwhelmingly passed Pennsylvania’s main state budget bill on Friday, July 8, 2022, more than a week after it was due — a plan fattened by federal cash stimulus and tax recoveries exceptionally hardy state. (AP Photo/Matt Rourke) matt rourke PA HARRISBURG, […]

Trump taxes: US appeals court upholds re...

Comment this story Comment A federal appeals court panel ruled Friday that House lawmakers can see years of former President Donald Trump’s financial accounting, but narrowed the range of documents Trump must turn over in a long legal battle. date on his adherence to presidential ethics and disclosure laws. The fight is not over – […]

Tax Fraud Blotter: Garbage in…

Angel of Fraud; time with children; from one cell to another; and other highlights of recent tax cases. Louisville, Kentucky: Lawyer Keith Hunter was convicted of tax evasion. Hunter evaded federal income tax, penalties, and interest for 2000, 2001, 2002, 2006, 2008, and 2011, a total of $1,124,620, by concealing assets. Among the methods he […]

Democratic primary for Maryland comptrol...

Comment this story Comment The race for the Democratic nominee for Maryland Comptroller pits a connected state delegate against a wealthy defense contractor — either of whom would go down in history if elected. Bowie Mayor Tim Adams would be the first African American and first paraplegic to hold the statewide office, while Del. Brooke […]

The private client tax services market i...

According to research experts from Qurate Research, “Global Tax services for private clients Market 2022 Insights, Size, Sharing, Growth, Opportunities, Emerging Trends, Forecast to 2028.” The study is an anthology of in-depth research studies on many aspects of the global Private Client Tax Services industry. It is an admirable effort to offer a true and […]

Electronic Accounting Services Market Si...

New Jersey, United States – The Electronic Bookkeeping Services Market The research report aims to provide a quick overview of the overall industry performance and important new trends. Important information, as well as conclusions, latest key drivers and constraints, are also described here. A wide range of quantitative and qualitative techniques are used by market […]

3 ways to fuel your career

Passion can fuel and accelerate your career. Getty You’ve heard that following your passion is a great way to succeed in your career, but is it really legitimate? Research says yes, for many reasons. There is a step back on passion, of course. Some career gurus have wondered if passion is enough to lead to […]

India’s crisis pads are part of the opti

A man displays new Indian 2000 rupee banknotes after withdrawing them from a branch of the State Bank of India (SBI) in Kolkata, India November 10, 2016. REUTERS/Rupak of Chowdhuri Join now for FREE unlimited access to Reuters.com Register MUMBAI, July 4 (Reuters Breakingviews) – A bear market amplifies weakness. In India, imported inflation brought […]