States with local economic nexus - a review
TaxConnex
MAY 19, 2022
Given the complexity that already exists regarding sales tax, it’d be great if states were the only jurisdictions that levied them.
Sat.May 14, 2022 - Fri.May 20, 2022
178 
Do Valuation Discounts Apply to Compulsory Shareholder Buyouts?
RogerRossmeisl
MAY 16, 2022
Valuation discounts for lack of control and marketability are major points of contention when companies or controlling shareholders are required to buy out shareholders who own minority interests.
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Tax season wasn’t as bad as some expected: Survey
Accounting Today
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Lockstep® Announces World’s First Shared Inbox Designed for Accounting
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Patent-pending Email and Accounting Software Integration Revolutionizes and Streamlines Payments and Month-end Closing Workflows.
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Trends: Are sourcing rules changing (and making anything easier)?
TaxConnex
MAY 17, 2022
“Sourcing” or as we often call it, situsing, is key when you determine sales tax obligations: It refers to the location where a sale is taxed.
Keeping Meticulous Records is the Key to Tax Deductions and Painless IRS Audits
RogerRossmeisl
MAY 16, 2022
If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses in order to claim all of the tax deductions to which you’re entitled.
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What is Lockstep® Inbox?
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Lockstep is pleased to announce our latest offering, Lockstep® Inbox. Revolutionizing accounting, Lockstep Inbox creates an shared inbox where accounting teams professionals can work better with customers and vendors.
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MAY 16, 2022
Traditional IRAs and Roth IRAs have been around for decades and the rules surrounding them have changed many times. What hasn’t changed is that they can help you save for retirement on a tax-favored basis. Here’s an overview.
The IRS Is Paying an Unwelcome Visit to Alliantgroup (NEW UPDATES)
Going Concern
MAY 20, 2022
[UPDATE 5] Not sure if this is pertinent as to why the FBI and IRS raided Alliantgroup’s offices in Houston this morning, but one Alliantgroup employee who contacted us earlier today said the firm’s billing practices are unfair to its clients: For most clients there is a 35% fee cap for our services.
Cyber Security, Change Management and Enterprise Risk Management: Scaling Operations for Growth
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National Accounting Day 2022
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IRS audit rates plummet, especially for wealthy
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Fully Deduct Business Meals This Year
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The federal government is helping to pick up the tab for certain business meals. Under a provision that’s part of one of the COVID-19 relief laws, the usual deduction for 50% of the cost of business meals is doubled to 100% for food and beverages provided by restaurants in 2022 (and 2021).
The PCAOB Ain’t Messing Around No More
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After getting rid of the boil on its butt (that boil being ex-chairman William Duhnke ) last June, the PCAOB seems to be feeling pretty good now under the leadership of Erica Williams. And that’s bad news for audit firms.
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IRS Raises Interest Rates for Q3 2022
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Tax Implications of Selling Mutual Fund Shares
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If you’re an investor in mutual funds or you’re interested in putting some money into them, you’re not alone. According to the Investment Company Institute, a survey found 58.7 million households owned mutual funds in mid-2020.
Are You Future-Ready? Learn How to Get There at This PICPA Event
Going Concern
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For the generations that have provided free technical support to grandparents everywhere since the ’80s and ’90s, it can be difficult to admit that the rapid pace of technological innovation is intimidating at times. There’s no denying things are changing fast.
Register Now: Sneak Peek Into Close Automation SkyStem Web Demo
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FP&A Hindsight is 20/20: What Lessons Can We Learn?
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If we’re discussing hindsight in business, let’s use a particularly early example. Pretend you own a business transporting goods by horse and carriage. You’re focused on finding a way to make your horses run faster or further. If you can figure that out, you’ll increase business.
Democrats urge IRS to boost drivers’ 58.5-cent mileage deduction
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5 Ways to Foil a “Fraud Department” Scam
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When banks detect suspicious activity in a customer’s account, they often call account holders to discuss the transactions. Time is of the essence when it comes to preventing fraud, especially in the case of wire and automated clearing house transactions.
Guy Blames Failing the CPA Exam on Why His Clients Got Busted for Bank Fraud and Tax Evasion
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Hanlon’s razor states “never attribute to malice that which is adequately explained by stupidity.” ” Meaning most of the time when someone does something bad, it’s not because they’re a bad person, rather too stupid to know better. Or something.
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Many companies are embracing objectives and key results (OKRs) as the best practice for committing to goals and following through. Objectives are outcomes that reflect current company priorities. Each employee should write OKRs that roll up to larger company goals.
The Three Golden Rules of Accounting You Should Always Follow
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You might have heard of the Golden Rule in life: Treat others as you want to be treated. But, did you know that there’s also a golden rule for accounting? In fact, there are three golden rules of accounting.
What Is Compensation? | Employer Guide
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If you have employees, you need to compensate them. So, you set an hourly rate or salary. But, you might also give other types of wages to your employees. And if you do, you need to know if those other wages count as compensation.
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Times have changed these past few years, haven’t they? There have been so many differences around the world, not only in our personal lives, but in our professional lives as well.
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And Just Like That, It’s Time to Change Sole Proprietorship to LLC. Here’s How to Do It
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Did you structure your business as a sole proprietorship? Do you want to move beyond your sole proprietorship status? If your business structure just isn’t cutting it, one of your options is to change sole proprietorship to LLC. And here’s the thing—you’re not alone.
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Job Rotation Program: Pass or Play?
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Some employees can be hard to hold onto. Employees, particularly millennials, want more opportunities to learn, grow, and advance their careers. In fact, job development is so important that 87% of millennials want it.
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