With more Americans working wherever they are, you can expect more U.S. expats to struggle to manage their taxes despite all the benefits of working abroad. While these jobs allowed them to work outside the country, it also presented a host of challenges to fulfilling their tax obligations. Americans living
Financial Accounting Standards Board chair Richard Jones has been poring over the feedback the board received from a recent consultation on its future standard-setting agenda to decide on new projects to take on, possibly on cryptocurrency and other intangible assets, while working on earlier standards in areas such as credit
FloQast, a provider of accounting workflow automation software created by accountants for accountants, introduced a new Reconciling Items feature and debuted an enhanced version of its Reconciliation Management Solution. Reconciling Items combines with FloQast’s Tracking, AutoRec Matching, and Amortization to manage the account reconciliation process, from strategy and execution to
Whether you recently struck out on your own or you’ve been running a successful accounting firm for years, it’s in your best interest to branch out from solely offering tax services. Those who have been attending conferences over the past few years have likely heard experts discussing the importance of
If you’re just joining us, part one in this series spelled out why the filing deadline for 1040s for calendar year 2021 is April 18, 2022, for most filers. The good news for filers who submit Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax
In a 20-page letter sent to the F.T.C., a congressional committee passed along allegations from a former employee who said the team withheld ticket revenue from fans and the league.
One of the most painful challenges your accounting practice can face is the small business or solo entrepreneur who shows up at the front desk with a box full of disorganized receipts, a problematic ledger of check deposits, and confusing home-grown spreadsheets of indecipherable numbers. Any number of reasons create
What is the current state of research and development (R&D) tax credits and how can you help your startup clients obtain them? As federal and state tax incentives, R&D tax credits encourage innovation and technical design improvement by reimbursing companies that develop new products, processes, or inventions. With the credit,
Has your dentist ever tried selling you an electric toothbrush? It aligns with their mission, caring for the health of your teeth. Using it will be good for you, but the sale of the toothbrush is a transaction, making them money. The electric toothbrush isn’t an integral part of the
Foul on the play! In a new case, Hoops, LP, TC Memo 2022-9, 2/23/22, the former owner of a professional basketball team tried to deduct nonqualified deferred compensation that was owed to two of their players. But the Tax Court determined that taking a current deduction was a violation of