Accounting Archives - Page 237 of 362

Payrolls returning slowly amid coronavirus pandemic

The labor market has a long road ahead as businesses try to adjust to the outbreak of the COVID-19 pandemic. Original Article Posted at : https://www.accountingtoday.com/news/payrolls-returning-slowly-amid-coronavirus-pandemic

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IRS revamps annual data book to highlight new areas of importance

The Internal Revenue Service has released its annual IRS Data Book for 2019 with a new format that aims to showcase the IRS’s work in fiscal year 2019, along with an additional message about its response this year to the novel coronavirus pandemic, which delayed publication. Original Article Posted at : https://www.accountingtoday.com/news/irs-revamps-annual-data-book-to-highlight-new-areas-of-importance

Iowa Decouples from 163(j) and GILTI, Clarifies Non-Taxation of PPP Loans

Iowa’s HF 2614, which passed both chambers of the legislature and now waits for the governor’s signature, makes several changes to the state’s tax code, which, although they will affect revenue, will encourage economic growth and make the state’s tax code more competitive. This bill decouples from GILTI and the net interest limitation and exempts…

M&A roundup: BDO, RubinBrown, Wessel and Hancoock Askew expand

BDO USA is adding CFO Advisors and MorganFranklin Consulting’s public sector practice; RubinBrown Advisors combines with Wealth Management Advisors; Wessel & Company merges in Perry & Company; and CA P.A. joins Hancock Askew & Co. Original Article Posted at : https://www.accountingtoday.com/list/m-a-roundup-bdo-rubinbrown-wessel-and-hancoock-askew-expand

Small businesses start to reopen and add employee hours, Paychex finds

As small businesses in different parts of the country reopen in the midst of the novel coronavirus pandemic, they are beginning to increase the number of hours worked by their employees, according to payroll giant Paychex, although spikes in the virus are threatening to set back those gains. Original Article Posted at : https://www.accountingtoday.com/news/small-businesses-start-to-reopen-and-add-employee-hours-paychex-finds

Inside the intentionally defective grantor trust

IDGT’s are particularly useful estate planning tools in a low-interest-rate environment. Original Article Posted at : https://www.accountingtoday.com/news/inside-the-intentionally-defective-grantor-trust

Estimated Impact of Improved Cost Recovery Treatment by State

Removing the tax code’s bias against long-term investment by implementing a neutral cost recovery system (NCRS) for structures and full expensing for other assets is estimated to increase economic growth and job creation. Using the Tax Foundation General Equilibrium Model, we estimate that permanent full expensing and neutral cost recovery for structures will add more…

Incoming GASB chair’s lack of state audit experience prompts questions

When Joel Black succeeds David Vaudt as chair on July 1, none of the board’s seven members will have served as a state auditor or treasurer. Original Article Posted at : https://www.accountingtoday.com/opinion/incoming-gasb-chairs-lack-of-audit-experience-prompts-questions