Accounting
Capital Cost Recovery across the OECD
Key Findings A capital allowance is the amount of capital investment costs a business can deduct from its revenue through the tax code via depreciation. Higher capital allowances can boost investment which, in turn, spurs economic growth. The average of Organisation for Economic Co-operation and Development (OECD) countries’ capital allowances has decreased since 2000, including…
Read MoreAI-driven bot ‘Sophie’ answers coronavirus-related questions
The program is designed to stop the spread of misinformation, answering basic questions about vaccines and testing. Original Article Posted at : https://www.accountingtoday.com/news/ai-driven-bot-sophie-answers-coronavirus-related-questions
Read MoreIn the blogs: Fretting
The PPP; customer service now; answers and CARES; and other highlights from our favorite tax bloggers. Original Article Posted at : https://www.accountingtoday.com/opinion/in-the-blogs-fretting
Read MoreCoronavirus and Wayfair decision affecting state tax revenues
The coronavirus has caught a number of states off guard, threatening their revenue and impairing their ability to meet obligations that have grown as a result of the epidemic. Original Article Posted at : https://www.accountingtoday.com/news/coronavirus-and-wayfair-decision-affecting-state-tax-revenues
Read MoreMost taxpayers lack 1099 forms for reporting crypto transactions
The Internal Revenue Service is including a question at the top of Schedule 1 of the Form 1040 this year asking taxpayers whether they received, sold, sent, exchanged or acquired a financial interest in virtual currency in 2019, but most taxpayers won’t have any record from a Form 1099 about their cryptocurrency transactions. Original Article…
Read MoreU.S. government’s financial condition worsened by $8.16T in 2019
Even before the start of the coronavirus pandemic, the federal government was facing dire financial conditions, with its overall financial condition worsening by $8.16 trillion in 2019, according to a new analysis. Original Article Posted at : https://www.accountingtoday.com/news/u-s-governments-financial-condition-worsened-by-8-16t-in-2019
Read MoreGlobal economic confidence plummets due to coronavirus, say ACCA and IMA
The pandemic has prompted confidence among accountants to fall to its lowest levels on record in all regions of the world during the first quarter of the year. Original Article Posted at : https://www.accountingtoday.com/news/global-economic-confidence-plummets-due-to-coronavirus-say-acca-and-ima
Read MoreBe clear, be calm during coronavirus
Establish a communication plan now, so your firm can come out of this crisis stronger than ever. Here are three key steps to follow. Original Article Posted at : https://www.accountingtoday.com/opinion/be-clear-be-calm-during-coronavirus
Read MoreWhy I have confidence auditors are ready to meet this time of economic uncertainty from coronavirus
COVID-19 has created the largest health and economic crisis in decades. Original Article Posted at : https://www.accountingtoday.com/opinion/why-i-have-confidence-auditors-are-ready-to-meet-this-time-of-economic-uncertainty-from-coronavirus
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