Accounting
White House will give small firms two-week exclusive PPP access
The Biden administration will give exclusive access to the Paycheck Protection Program to the nation’s smallest businesses for two weeks as part of a broader effort to steer federal aid to the most vulnerable parts of the economy. Original Article Posted at : https://www.accountingtoday.com/articles/white-house-will-give-small-firms-two-week-exclusive-ppp-access
Read MoreWhy States and Localities Need More Federal Aid
Opponents of additional federal aid to state and local governments have noted that overall state revenue declines have not been as bad as expected during…
Read MoreBiden’s economic legacy at stake as next package takes shape
Progressives are eyeing tax measures including an increase in the capital-gains levy. Original Article Posted at : https://www.accountingtoday.com/articles/bidens-economic-legacy-at-stake-as-next-package-takes-shape
Read MoreWhich States Are Taxing Forgiven PPP Loans?
The U.S. Small Business Administration’s Paycheck Protection Program (PPP) is providing an important lifeline to help keep millions of small businesses open and their workers employed during the COVID-19 pandemic. Many borrowers will have these loans forgiven; eligibility for forgiveness requires using the loan for qualifying purposes (like payroll costs, mortgage interest payments, rent, and…
Read MoreWhat does it mean to be a ‘highly automated’ firm?
Automation isn’t just about improving your business processes — it’s also a key way to better serve your clients. Original Article Posted at : https://www.accountingtoday.com/opinion/what-does-it-mean-to-be-a-highly-automated-firm
Read MoreTax season off to a slow start, lawmakers complain to IRS
Leaders of the tax-writing House Ways and Means Committee are sounding the alarm over the slow start to tax season, reflected in the initial week of data from the IRS. Original Article Posted at : https://www.accountingtoday.com/news/tax-season-off-to-a-slow-start-lawmakers-complain-to-irs
Read MoreLawmakers propose legislation to offer tax relief to beauty salons
Two members of Congress teamed up Friday to introduce a bipartisan bill that would offer tax credits for income from tips to beauty salon owners and workers. Original Article Posted at : https://www.accountingtoday.com/news/lawmakers-propose-legislation-to-offer-tax-relief-to-beauty-salons
Read MoreLawmakers look to offer tax relief to beauty salons
Two members of Congress teamed up Friday to introduce a bipartisan bill that would offer tax credits for income from tips to beauty salon owners and workers. Original Article Posted at : https://www.accountingtoday.com/news/lawmakers-propose-legislation-to-offer-tax-relief-to-beauty-salons
Read MoreFASB OKs goodwill alternative for private cos., nonprofits
The Financial Accounting Standards Board approved a tweak to the goodwill rules for private businesses and not-for-profits, giving them more flexibility on when to do impairment assessments of triggering events. Original Article Posted at : https://www.accountingtoday.com/news/fasb-oks-goodwill-alternative-for-private-cos-nonprofits
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