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From a financial market perspective, the novel coronavirus pandemic has led to global economic uncertainty and volatility. With such widespread impact, the economic effects are disrupting day-to-day accounting procedures. With the COVID-19 landscape presenting unique challenges that delay information from flowing into the accounting department, accountants must be better positioned to thrive in a post-pandemic […]
The unprecedented, global, government-enforced economic shutdown is draining the lifeblood of cities and states: sales on sales tax revenue. Sales tax shortfall estimates vary from state to state, but are upwards of $150 billion for fiscal year budgets. The U.S. economy had been booming until recently, with 2019 GDP hitting $21.4 trillion. The unemployment rate […]
BKD CPAs Advisors, a Top 20 Firm based in Springfield, Missouri, has acquired CampbellWilson LLP, a Dallas-based firm that focuses on health care regulatory consulting, effective June 1, 2020. The deal promises to increase BKD’s health care practice in the Dallas-Fort Worth market. BKD will be able to leverage CampbellWilson’s proprietary physician time study system, […]
The Small Business Administration’s troubled Paycheck Protection Program appears to be providing more businesses with long-awaited loans, despite the rocky rollout and ever-changing guidance, according to a new survey. For the third consecutive week, the payroll giant Paychex, Inc. polled 300 randomly selected U.S. business owners with two to 500 employees. The latest data indicates […]
Grant Thornton has released inter.x, a blockchain platform for managing intercompany transactions. The firm has implemented the new platform in-house, but it is also available to clients to manage dealings between financial entities of a business, which account for 30 to 40 percent of the global economy. Inter.x delivers real-time data-analytics dashboards that monitor these […]
A fuel and his money; see ya labor; low miles but high taxes; and other highlights of recent tax cases. Salt Lake City: A federal jury has convicted California businessman Lev Aslan Dermen, a.k.a. Levon Termendzhyan, of criminal charges relating to a $1 billion renewable fuel tax credit fraud scheme. Dermen was the owner and […]
The metrics you will select to set your company’s growth will depend on your preferences. There are no fixed rules and you can grow your practice in many ways. This aspect of running a business is an opportunity to be a creative entrepreneur. Here are five pieces of advice that will put you on the […]
The international tax provisions of the Tax Cuts and Jobs Act will likely have less impact on the willingness of multinational companies to shift their income abroad than the money they can save by using foreign employees to do research and development, according to a new study. The research, which appears in the current issue […]
Republicans universally rejected a $3 trillion stimulus measure drafted by House Democrats to bolster the U.S. economy, but the draft plan has the seeds for an eventual, smaller compromise. With Speaker Nancy Pelosi pushing the House toward a Friday vote on the Democratic package, a Senate Republican aide said that Majority Leader Mitch McConnell doesn’t […]
Residents of lower-income states that voted for President Donald Trump got bigger stimulus checks in general than those in wealthier coastal enclaves that tend to back Democrats, according to data from the Internal Revenue Service. The demographics of such red states as Utah, Idaho and South Dakota helped residents collect average stimulus payments topping $1,800. […]
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