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The United States has again been hit by a prolonged period of severe weather this week, with severe storms, convective weather, large hail storm events and a Derecho that struck the Iowa and Illinois region, all adding up to multi-billion dollar economic losses, with most of the wind and hail insured. Insurance and reinsurance broker…
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“We are health care workers. We are doctors, advanced care practitioners, nurses, pharmacists, social workers, and so much more. We are on the frontlines. We are our parents’ children, and we are parents to our young children. For the first time, we are at an extremely high risk of being quarantined by the same beast…
Read MoreUp until now value-added taxes (VAT) were considered to be highly regressive taxes. Numerous studies have found that VAT appears to be regressive when measured as a percentage of current income. Nevertheless, a recent OECD paper used household expenditures microdata from 27 OECD countries to reassess this often-made conclusion that VAT is regressive. Value-added taxes…
Read MoreReaching across the Isle; room disservice; game of tag; and other highlights of recent tax cases. Original Article Posted at : https://www.accountingtoday.com/news/tax-fraud-blotter-well-dressed-thieves
Read MoreOn the last day of Nebraska’s recently reconvened 2020 legislative session, legislators today granted final approval to LB1107, a bill to provide state income tax relief to help offset local property taxes paid, as well as to make adjustments to Nebraska’s business incentives program. This compromise is the result of many months of negotiations in…
Read MoreFour accounting academics were honored for their teaching and research during the 2020 American Accounting Association meeting. Original Article Posted at : https://www.accountingtoday.com/news/aicpa-honors-four-accounting-professors-at-annual-aaa-meeting
Read MoreWhite House officials said the administration has no plans to do away with the payroll tax despite President Donald Trump saying he would seek a permanent repeal if he wins another term. Original Article Posted at : https://www.accountingtoday.com/articles/white-house-says-no-plan-to-end-payroll-tax-permanently
Read MoreUpdated on August 13th, 2020 by Josh Arnold As a business owner, selling products that have high profit margins along with strong brand awareness and an exceptionally loyal customer base is strongly desirable. The tobacco industry fits this model, despite declines over time in the number of customers that use its products. Tobacco stocks are…
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The Financial Conduct Authority (FCA), which regulates insurers in the United Kingdom, has indicated that it doesn’t believe COVID-19-related losses trigger most business insurance policies because such policies typically require a direct connection between financial loss and physical damage to the insured property. Think fire, flood, wind, or earthquake damage. The FCA is now litigating…
Read MoreThe U.S. Small Business Administration has posted rules about how businesses who have been turned down for forgiveness of their Paycheck Protection Program loans can appeal the decision. Original Article Posted at : https://www.accountingtoday.com/news/sba-offers-guidance-on-how-businesses-can-appeal-rejections-of-ppp-loan-forgiveness
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