Accounting
Better Every Day: It’s time for firms to pivot
The best time to make changes? When everything you’ve ever known has been turned upside down. Original Article Posted at : https://www.accountingtoday.com/opinion/better-every-day-its-time-for-accounting-firms-to-pivot
Read MoreDigital Taxes, Meet Handbag Tariffs
Today the U.S. Trade Representative (USTR) announced new tariffs in response to the French digital services tax. The tariffs of 25 percent on $1.3 billion worth of trade would not go into effect until January 6, 2021. The tariffs would apply to several make-up products, handbags, and assorted soaps. In January, the U.S. and France…
Read MoreJuly 16 hearing set in N.Y. Trump tax case after Supreme Court ruling
Donald Trump will get a chance next week to try new arguments against Manhattan District Attorney Cyrus Vance’s subpoena of his tax returns and other financial records after the U.S. Supreme Court rejected the president’s claim of immunity in the matter. Original Article Posted at : https://www.accountingtoday.com/articles/july-16-hearing-set-in-n-y-trump-tax-case-after-supreme-court-ruling
Read MoreIRS needs better control over employee pseudonyms
The controls over the pseudonym program used by Internal Revenue Service employees to protect their identities could be improved, according to a recent report. Original Article Posted at : https://www.accountingtoday.com/news/irs-needs-better-control-over-employee-pseudonyms
Read MoreNon-Profit Files Lawsuit over Withholding Requirements in Ohio
On July 2, a Columbus-based non-profit, the Buckeye Institute, filed a lawsuit against the city of Columbus and state of Ohio claiming that a recently passed bill, HB197, is unconstitutional. In Ohio, municipalities levy income taxes on non-residents’ income earned within their jurisdiction. It is not uncommon for localities to levy income taxes on non-residents…
Read MoreAICPA updates standard for audits of accounting estimates
The American Institute of CPAs’ Auditing Standards Board released an updated standard for auditing accounting estimates and disclosures to deal with the increased volatility of the economy this year in the midst of the novel coronavirus pandemic. Original Article Posted at : https://www.accountingtoday.com/news/aicpa-updates-standard-for-audits-of-accounting-estimates
Read MoreDHG to hold webinar on racial injustice
The Top 20 Firm is inviting clients and the local community to a July 14 webinar centered on “addressing positive change and equality for all people.” Original Article Posted at : https://www.accountingtoday.com/news/dhg-to-hold-webinar-on-racial-injustice
Read MoreCongress passes bill to help nonprofits with cash flow amid coronavirus
The Senate and House passed bipartisan legislation to help nonprofits remain financially viable during the COVID-19 pandemic by ensuring they receive federal help for unemployment payments upfront, instead of being reimbursed later. Original Article Posted at : https://www.accountingtoday.com/news/senate-unanimously-passes-bill-to-help-nonprofits-with-cash-flow-amid-coronavirus
Read MoreImproved Cost Recovery Is A Wide-Ranging Policy Solution
Investment comes in a variety of forms—be it private or public investments ranging from rural broadband and 5G to health care infrastructure and innovation. But not all investment is equal in terms of its effects on productivity and economic growth. While the common perception tends to be that public infrastructure is more productive than private…
Read More