Accounting
Tax Policy Proposals for the German EU Presidency
Today begins Germany’s presidency of the council of the European Union. The EU presidency rotates among EU member countries every six months; Germany’s presidency will last through the end of 2020. In addition to a new six-month presidency, this is also the beginning of an 18-month cycle with Germany, Poland, and Slovenia working on a…
Read MoreTax Policy Proposals for the German EU Presidency
Today begins Germany’s presidency of the council of the European Union. The EU presidency rotates among EU member countries every six months; Germany’s presidency will last through the end of 2020. In addition to a new six-month presidency, this is also the beginning of an 18-month cycle with Germany, Poland, and Slovenia working on a…
Read MoreFASB and GASB undergo leadership transitions amid coronavirus
The Financial Accounting Standards Board and the Governmental Accounting Standards Board are under new chairmen Wednesday after their long-serving leaders completed their second terms. Original Article Posted at : https://www.accountingtoday.com/news/fasb-and-gasb-undergo-leadership-transitions-amid-coronavirus
Read MoreDigital Tax Deadlock: Where Do We Go from Here?
The growth of the digital economy over the last several decades has raised important questions about how to tax corporations that no longer need a physical presence in a country to turn a profit there. For months, countries in the Organisation for Economic Co-operation and Development (OECD) have been working towards a multilateral solution to this challenge,…
Read MoreContinuous CPA Exam testing for U.S. candidates begins
The National Association of State Boards of Accountancy, the American Institute of CPAs and testing administrator Prometric have launched the Continuous Testing model for U.S. CPA Exam candidates, due to the ongoing coronavirus pandemic, effective July 1, 2020. Original Article Posted at : https://www.accountingtoday.com/news/continuous-cpa-exam-testing-for-u-s-candidates-begins
Read MorePrivate sector added 2,369,000 jobs in June amid coronavirus, says ADP
Private sector employers added 2,369,000 jobs in June, according to payroll giant ADP, in a promising sign of business recovery despite the COVID-19 pandemic. ADP also revised upward its May total from a loss of 2,760,000 jobs to a gain of 3,065,000 jobs. Original Article Posted at : https://www.accountingtoday.com/news/private-sector-added-2-369-000-jobs-in-june-amid-coronavirus-say-adp
Read MoreDid 1986 Tax Reform Hurt Affordable Housing?
As Tax Foundation president Scott Hodge wrote in a recent blog post, improving the tax treatment of residential investments is a good way to reduce construction costs and build more affordable housing. Under current law, when a company invests in building a new structure, it must deduct the cost of that investment over multiple decades.…
Read MoreClarifying 5 common misconceptions about cost segregation
Cost segregation can be more complex than you think, depending on who owns the asset, how the property reports revenue, the nature of repairs and improvements made, and the depreciation time frame desired. Original Article Posted at : https://www.accountingtoday.com/list/clarifying-5-common-misconceptions-about-cost-segregation
Read MoreMillionaires face near-zero chance of IRS audit — for now
If you have an income of $1 million or more there’s less than a 1% chance that the IRS has called you in for an audit, according to new figures from the agency. Original Article Posted at : https://www.accountingtoday.com/articles/millionaires-face-near-zero-chance-of-irs-audit-for-now
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