Full Expensing is Good for the Short Run and the Long Run

Full expensing for capital investment is being considered in the upcoming fourth round of coronavirus relief legislation. Though we tend to talk about full expensing as a long-run policy with long-run benefits, that does not mean it is meaningless in the short term. In fact, full expensing is good for both the long run and…

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Tax Fraud Blotter: On Top no more

Not ferry nice; bettering their living conditions; precious Metal; and other highlights of recent tax cases. Original Article Posted at : https://www.accountingtoday.com/news/tax-fraud-blotter-on-top-no-more

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Michigan Vapor Tax Bill Gets It Half-Right

In line with the nationwide trend of taxing vapor products, the Michigan Senate has passed a new 18 percent tax on vapor products. These taxes are often intended to achieve a two-fold goal: deterring youth use and raising revenue. The Michigan bill is no exception. On Wednesday, SB781 passed the Senate on a 33-5 vote.…

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NJCPA honors 40 Ovation Awards recipients for 2020

The New Jersey Society of CPAs highlighted local professionals who are advancing the profession forward in such areas as diversity, innovation and education. Original Article Posted at : https://www.accountingtoday.com/news/njcpa-honors-40-ovation-awards-recipients-for-2020

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The 64/4 rule

Less than two hours a week can take your practice to the next level. Look what happens when you apply the 80/20 rule to the 80/20 rule. Original Article Posted at : https://www.accountingtoday.com/opinion/the-64-4-rule

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Wirecard’s future in doubt after revealing missing $2.1B

Wirecard suffered one of the worst stock slumps in the history of Germany’s benchmark index after revealing that about 1.9 billion euros ($2.1 billion) in cash has gone missing, spooking investors who have endured years of allegations of wrongdoing at the payments company. Original Article Posted at : https://www.accountingtoday.com/articles/wirecards-future-in-doubt-after-revealing-missing-2-1b

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U.S. has pulled out of global digital tax talks, Lighthizer says

Treasury Secretary Steven Mnuchin withdrew the U.S. from international talks over a digital tax deal after failing to reach an agreement with countries looking to place levies on the revenue of American tech companies, U.S. Trade Representative Robert Lighthizer said. Original Article Posted at : https://www.accountingtoday.com/articles/u-s-has-pulled-out-of-global-digital-tax-talks-lighthizer-says

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CARES Act Conformity Would Promote Economic Recovery in Nebraska

Some Nebraska senators have recently proposed decoupling from the Coronavirus Aid, Relief, and Economic Security (CARES) Act’s tax relief provisions in order to use that revenue for property tax cuts. Because Nebraska conforms with the Internal Revenue Code (IRC) on a rolling basis, the state automatically incorporates federal tax changes into its own tax code…

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