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(Bloomberg) Several Senate Republicans began to question Wednesday whether their health-care bill should repeal a tax on high-income Americans imposed by Obamacare when the legislation would scale back subsidies for the poor. Susan Collins of Maine and Mike Rounds of South Dakota both criticized the draft bill released by Majority Leader Mitch McConnell for repealing […]
The Tax Court has ruled that the owners of the Boston Bruins professional hockey team may deduct the entire cost of away game pregame meals as a de minimis fringe benefit. During 2009 and 2010 the Boston Bruins played at hotels when visiting “away” cities and contracted with the hotels for the provision of pregame […]
“Nobody likes lawyers;” attacks on the CBO; so you want to be a tax preparer?; and other highlights from our favorite tax bloggers. Procedurally Taxing (http://www.procedurallytaxing.com/): A look at three intriguing recent designated orders: the tax liability of Michael Jackson’s estate; “computational errors” resulting in a $134,000 overstatement of taxable income, deficiency and penalties; and […]
CPA.com, the technology arm of the American Institute of CPAs, has extended its partnership with Bill.com to beyond 2025. The deal “ensures that Bill.com will continue to make the accounting profession one of its highest priorities over that term,” according to CPA.com officials, although the exact length of the term remains unspecified. BIll.com is the […]
(Bloomberg) The Obamacare replacement plan put forward by Senate Republicans would increase the number of uninsured Americans by 22 million while slashing funding for Medicaid, according to an estimate by the Congressional Budget Office. The Senate bill, called the Better Care Reconciliation Act, would reduce the deficit by $321 billion over a decade, according to […]
Top House Republicans have vowed repeatedly to make sweeping tax reform a reality this year — but that effort won’t be the only chance to see tax action. Lawmakers will attach tax titles to other legislation before tax reform happens, whether as negotiating tools, technical fixes, or renewals of expiring provisions, according to lobbyists and […]
Marketing goes with a prep practice like water goes with a lawn: When used right, growth happens. Of course, not every marketing plan succeeds. Jeffrey Schneider, EA in Port St. Lucie, Fla., recalls his “two-year experiment in [newspaper] print advertising, which soured me,” he said. “I spent a lot and did not get a single […]
Everywhere these days, news headlines scream that automation stands to eliminate many of the traditional jobs in the U.S. Indeed, a 2013 research study estimates that nearly half of total U.S. employment is at high risk of becoming automated over the next 10 to 20 years. The study ranked accountants and auditors in the top […]
(Bloomberg) The long-awaited Obamacare replacement plan from Senate Republicans wouldn’t do much to preserve coverage for millions of poor and working-class people, but it would deliver tax cuts to the wealthiest Americans. To appeal to their moderate members, GOP leaders initially faced pressure to maintain some of the Obamacare taxes that funded expanded Medicaid coverage. […]
Have you ever had a vision for something totally cool? You work really hard, you overcome a few obstacles, you partner with great people and somehow its turns out better then you could have ever imagined? That was my live radio event at the AICPA Engage conference in Las Vegas. Typically, I throw a really […]
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