Under prior law, an individual could deduct the unreimbursed cost of clothing or uniforms used for business that weren’t suitable for everyday wear. In a new case, Romana, TC Summary Opinion 2022-9, 6/16/22, the Tax Court allowed a nurse to deduct the cost and upkeep of scrub-like clothing that she
The S.E.C. is reportedly reviewing conflicts of interest at top accounting firms.
Just joining us? Part one discussed court decisions on whether expenses qualified as “ordinary and necessary” under IRS Code 162. More on such disputes in part two. Weddings, funerals and bar mitzvahs. The IRS and the courts agree that weddings, funerals and other family events are more personal than business
If a week is a long time in politics, six months covering accounting technology might reasonably be considered an “age.” It’s been half a year since my return to AccountingWEB UK, and such has been the pace of change that articles from January seem tinged with nostalgia, and occasionally regret
During a time period that is tax free, registered retailers selling affected goods must abide by the terms of a sales tax holiday whether selling through a brick-and-mortar store, online — or the metaverse. International advisory and accounting firm Prager Metis describes the metaverse as “a centrally located, virtual marketplace
The Securities and Exchange Commission and other federal agencies have been keeping watch as the capital markets go through a period of volatility amid rising inflation and interest rates, looking for telltale signs of financial fraud. During the Association of Certified Fraud Examiners’ global fraud conference last month, ACFE president
The Securities and Exchange Commission is getting set to impose new rules on climate-related disclosures and how funds can be named to promote investment strategies like ESG and sustainable. The SEC closed the comment period for the proposed climate disclosure rule on June 17 after it was extended due to
As companies change their logos and tweet support for the LGBT+ community, the same argument is levelled against organisations who arguably pay lip service to Pride month while failing to act throughout the rest of the year. A prime example was M&S’ somewhat misguided attempt to market their ‘LGBT sandwich’ to customers
Growing into a leadership position can feel intimidating. You may not feel as though you have the necessary skills to lead a team, and that holds you back from being a leader in your organization. Preparing for leadership roles starts with one vital step: building your leadership confidence. Building your
By now, you all have to be completely exhausted from hearing about the “Great Resignation” of 2021. If you have a team, you have likely experienced this, although even the smallest firms were not exactly safe from this kerfuffle either. Statistics show that in November of 2021, 4.5 million people