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President Donald Trump signed a bill containing $900 billion in pandemic relief, the White House said, triggering the flow of aid to individuals and businesses and averting the risk of a partial government shutdown on Tuesday. In addition to aid to stem the economic effects of the pandemic, the legislation Congress passed Monday also includes […]
The Financial Accounting Foundation names new members to a major advisory board, Connecticut firms turn out for a big annual food drive, and other news from across the profession.
House Republicans blocked Democrats’ attempt to meet President Donald Trump’s demand to pay most Americans $2,000 to help weather the coronavirus pandemic. Republicans objected to the bill House Majority Leader Steny Hoyer sought to pass by unanimous consent Thursday to replace the $600 payments in the latest pandemic relief legislation with the $2,000 payments. “House […]
As we wrap up an unpredictable year, let’s explore the Financial Standards Accounting Board’s recent roundtable discussions, new guidance on lease implementation for public and nonpublic organizations, and what we can expect for non-public implementation next year. Public companies understand the new lease standard now that they have completed their implementations. For the most part, […]
An important trustee responsibility is filing tax returns, and with that responsibility comes a duty to minimize income taxes. With a few days remaining in 2020, a trustee can still employ tax-saving strategies. Fiduciary tax brackets are compressed. For 2020, trusts pay tax at the maximum income tax rate when taxable income exceeds $12,950. In […]
Many economic incentives are complex but can provide significant value with some creative strategizing. State and local governments offer tax incentives to businesses to create new jobs, often requiring that the recipients prove they have hired “net new” employees over an established time period. In the current economic environment, it could be advantageous for you […]
The COVID-19 pandemic has acted as a significant catalyst for mental health care, with the crisis sparking concern for the emotional wellbeing of entire populations. Around the world, many people are trying to manage symptoms of stress and anxiety stemming from new ways of working, a fear of contracting the virus and unexpected financial challenges. […]
Accountants spend much of their time educating clients on why a particular approach was taken, and what the results actually mean. You may not have signed on as an educator, but it often comes with the job. It’s been a long time since I was in practice, but I still remember all of the times […]
Accounting firms thinking about their branding is nothing new. You’re used to articulating what differentiates your business, the values you stand for, and your unique selling proposition (USP). When you think about your brand, you usually do so in the context of customers, putting yourself in their shoes and asking what qualities they should associate […]
The Institute of Management Accountants reported record growth in 2020 despite the impact of the COVID-19 pandemic on the accounting profession. The IMA’s annual report for its fiscal year ended June 30, 2020 showed a record number of more than 144,000 global IMA members, representing a 3 percent year-over-year growth rate, and 17 percent year-over-year […]
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