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Former Intuit executive Jim McGinnis has been snagged by Wolters Kluwer, which has hired him as its new executive president and general manager for the medium and large segment for its Tax Accounting North America business unit. McGinnis was at Intuit for seven years, originally as vice president of marketing for the Accountants Professional Division, […]
President Donald Trump is open to negotiating on the deduction individuals take for state and local taxes, his top economic adviser Gary Cohn said Friday. While the tax framework released Wednesday would eliminate that deduction, the provision isn’t a red line, according to Cohn, the director of the National Economic Council. The deduction is used […]
The Securities and Exchange Commission is providing regulatory relief and assistance to accountants, public companies, investment firms, municipal advisors and other affected by Hurricanes Harvey, Irma and Maria. The SEC acknowledged that the loss of property, power, transportation, and mail delivery due to the hurricanes poses challenges for some of the individuals and entities who […]
By 2027, almost 30 percent of individuals with incomes between $50,000 and $150,000 would see their taxes rise under the elements of a Republican framework for tax legislation released this week, according to an analysis released Friday by the Urban-Brookings Tax Policy Center. The analysis came one day after White House economic adviser Gary Cohn […]
FASB’s new Current Expected Credit Loss (CECL) standard brings a significant change to credit loss accounting, and the road to compliance presents many challenges for financial institutions. Today’s implementation decisions will have major long-term impacts on the efficiency and effectiveness of the new loss allowance process. Join Laurent Birade of SAS as he explores the […]
The AICPA announced on Thursday the recipients of the 2017-2018 Accountemps Scholarship Award, given to four college accounting students who show “potential to become leaders in the CPA profession,” according to the Institute. Each student, chosen from over 600 undergrad and graduate students across the country, will receive $10,000 towards the 2017-18 academic year. To […]
The House passed legislation Thursday that provides some tax relief to victims of the recent spate of hurricanes. The bill, introduced by House Ways and Means Committee Chairman Kevin Brady, R-Texas, would help victims of Hurricanes Harvey, Irma and Maria by creating a deduction for personal casualty losses for uncompensated losses in disaster areas. It […]
The Internal Revenue Service is lending a hand to victims of Hurricanes Harvey, Irma and Maria by offering temporary relief from some requirements of the tax code to owners and operators of low-income housing projects who have room to shelter some of the displaced people. The relief applies to owners and operators of low-income housing […]
President Donald Trump and Republican leaders launched an urgent effort to get a major legislative win this year, announcing a long-awaited tax plan that will immediately set off a fight over how much top earners should pay. The framework proposes cutting the top individual rate to 35 percent—but leaves it up to Congress to decide […]
Hurricane season has swept into the United States this year with a vengeance, leaving people reeling from loss. It’s times such as these that really make the case for benefits of storing data in the cloud. For accounting firms, it can be the difference between business as usual and complete shut-down. PMB Helin Donovan, a […]
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