Accounting
Gusto aids accountants in helping clients apply for PPP loans
The payroll provider has been partnering with accountants to help them secure loans for their small businesses. Original Article Posted at : https://www.accountingtoday.com/news/gusto-aids-accountants-in-helping-clients-apply-for-ppp-loans-to-deal-with-coronavirus
Read MoreWatch: Taxing the Digital Economy
The digitalization of the economy has led more companies to adopt virtual operations, disrupting traditional means of consumption and income taxation. This has led to a heated debate on how best to tax the digital economy. Despite the OECD stepping in to negotiate a global framework, some countries have taken unilateral action, implementing problematic digital…
Read MoreIRS allows remote signatures on retirement plan elections
The Internal Revenue Service is giving retirement plan participants and beneficiaries some added flexibility during the COVID-19 pandemic to remotely sign or have notarized their retirement plan elections. Original Article Posted at : https://www.accountingtoday.com/news/irs-allows-remote-signatures-and-notarization-on-retirement-plan-elections-amid-coronavirus
Read MoreFASB defers revenue recognition and leases standards for private companies and nonprofits due to coronavirus
The Financial Accounting Standards Board released an accounting standards update providing a one-year effective date delay for private companies and organizations to apply the revenue recognition and leases standards due to COVID-19, although they still have the option to apply the standards early. Original Article Posted at : https://www.accountingtoday.com/news/fasb-defers-revenue-recognition-and-leases-standards-for-private-companies-and-nonprofits-due-to-coronavirus
Read MoreHow High are Vapor Taxes in Your State?
Vapor products have been growing in popularity since they entered the market in 2007, and taxation on such items has been following suit. Many states may also be looking toward vapor and other excise taxes to fill budget holes caused by the coronavirus crisis. While those areas may represent untapped revenue sources for many states,…
Read MoreChallenges and opportunities for management accountants
As companies struggle to survive in an increasingly complex and threatening environment, the role of management accountants has become ever-more critical, according to IMA president and CEO Jeff Thomson. Original Article Posted at : https://www.accountingtoday.com/podcast/challenges-and-opportunities-for-management-accountants
Read MoreCOVID-19 and the new business imperatives for CPA firms
Highs, lows, curveballs and surprises are routine for every business, including accounting firms. Pandemics, however, are not routine (thankfully!). This crisis tests and provokes us all to the extreme. Original Article Posted at : https://www.accountingtoday.com/opinion/covid-19-and-the-new-business-imperatives-for-cpa-firms
Read MoreHEROES Act Would Expand The EITC For Childless Workers And Help Fight Recession
The Health and Economic Recovery Omnibus Emergency Solutions Act , HEROES Act, would substantially increase the earned income tax credit (EITC) for workers without children…
Read MorePrivate sector employers cut 2,760,000 jobs due to coronavirus, says ADP
Private sector employers slashed at least 2,760,000 jobs from April 12 to May 12, according to payroll giant ADP, on top of the 20 million job cuts in the previous monthly period, and even that doesn’t reflect the total economic fallout from the COVID-19 pandemic. Original Article Posted at : https://www.accountingtoday.com/news/private-sector-employers-cut-2-760-000-jobs-due-to-coronavirus-says-adp
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