Category: Tax News And Info
Mazars holds third annual ‘Days of Service’
Accounting firm Mazars recently completed its third annual Days of Service campaign. Over 550 staff members and 70 partners committed full days of service on May 31, June 7 and June 14 this year, helping over 30 local nonprofits in the New York metro area, Maryland, Philadelphia, Sacramento and Chicago. “We are very proud of […]
House introduces taxpayer appeal rights bill
A bipartisan group of lawmakers has introduced legislation to provide taxpayers more rights to have their cases heard by the Internal Revenue Service’s Office of Appeals. The Preserving Taxpayers’ Rights Act would provide taxpayers the legal right to have cases heard by the IRS Office of Appeals, further define which IRS cases can be designated […]
Consumers clamor for a cashless economy
As accounting firms begin to accept online currencies, 80 percent of Americans support “futuristic” payments technologies and money, a survey has found. Specific technology supported by respondents include sensor fingerprinting, facial recognition, retinal scanning and voice control, and blockchain-based currencies like Bitcoin. Several tech-forward small and mid-sized firms nationwide do accept online currencies, such as […]
XBRL makes steady advances
Extensible Business Reporting Language is starting to become more widely used, thanks to the SEC’s rules requiring the use of XBRL in financial filings in recent years and a new rule requiring XBRL for foreign issuers. The Securities and Exchange Commission began requiring the largest public companies to file their financial statements using XBRL in […]
Construction tax planning and accelerated depreciation planning
A properly designed and implemented construction tax planning analysis will proactively identify tax savings related to new and planned construction projects. A construction tax planning analysis should not be confused with a cost segregation analysis. A cost segregation analysis will methodically review property, plant and equipment and properly reclassify real property into personal property and […]
Marcum to hold second annual Women’s Forum in October
Top 100 Firm Marcum announced this week that they will hold their second annual Marcum Women’s Forum in New York City on October 27th. Chelsea Clinton is set be the featured speaker for the breakfast event that looks to discuss topics relating to female leadership in the workplace. This year’s theme will be “Women Having […]
Senate GOP leaders revise health care bill with tax changes
The latest iteration of the GOP effort to repeal and replace the Affordable Care Act, released this morning by Sen. Mitch McConnell, R-Ky., includes provisions designed to win over both conservative and centrist GOP members of the Senate. The first version of the Senate legislative draft, released last month, was pulled before a vote was […]
FASB changes accounting for ‘down round’ financial instruments
The Financial Accounting Standards Board has released an accounting standard update aimed at simplifying the accounting for financial instruments that have so-called “down round” features. A down round is a provision or embedded feature in an equity-linked financial instrument that provides a downward adjustment to the current exercise price, based on the price of future […]
Making audit sexy — with cloud technology
Cloud technology had truly arrived in the accounting profession. Now that it’s here to stay, we can delve deeper into its capabilities. So, how can the cloud create better auditing engagements? We are now seeing the far-reaching effects of the cloud in all areas of a practice: Advisory services, tax and audit. As accounting platforms […]
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