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Friday Footnotes: EY Split Drags Out; Advisory Firm Defrauds Clients; Student Loan Forgiveness and Taxes | 9.2.22

Going Concern

The accounting firm’s internal negotiations over plans to split out its advisory business, in an effort to free itself of any conflicts-of-interest issues that prevent it from selling consultancy services to audit clients, will continue over the coming months, Financial News reported. Accounting Firm M&A.

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Remote Is Remote

RitaKeller

What if no one is willing to pay New York City wages for people who work in Idaho?” CPA firms have survived during the last couple of years by being able to utilize remote workers. Their talented accountants worked from home, and to the surprise of many partners, it worked well. ” – Suzanne Lucas .

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Avalara Gives Update on Online Marketplace and Tax Changes in 2024

CPA Practice

By 2027, marketplaces may account for 59% of ecommerce globally. Register for sales tax where required, when required Marketplace facilitators that have physical presence or economic nexus with a state must register for a sales tax permit (also known as a seller’s permit, etc.). By Gail Cole.

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Lodging Tax Insanity — So Many Ways to Tax Accommodations

CPA Practice

States typically take one of five different approaches to taxing accommodations: A single, statewide tax on accommodations but no additional local taxes (e.g., Connecticut, Maine, New Hampshire) A combined state/local sales tax on accommodations and local jurisdictions can impose an additional local accommodations tax (e.g.,

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