Concerns have mounted over the last few days about the tax ramifications of President Biden’s forgiveness of student loan debt. Biden announced Wednesday he would forgive $10,000 in federal student debt for borrowers making less than $125,000 per year, or $250,000 for married couples filing together or heads of households.
Fathom — a popular reporting, analysis and forecasting software used by many accountants — has been acquired by the Access Group, a British provider of business management solutions for small and midsized organizations. Kerry Agiasotis, president of The Access Group Asia Pacific, said in a statement that her company admired
The purpose of a family office is to organize and centralize the management of a family’s personal and business financial affairs, and to maintain the financial house in as good an order as that of a well-run public company. The origin of the family office concept came from extremely wealthy
Grant Thornton LLP has sold its public sector advisory practice to Guidehouse, a consultancy owned by private equity fund Veritas Capital. The move is part of Chicago-based Grant Thornton’s strategy of divesting some of its practice niches to focus more on audit, tax and advisory services. Guidepost will be gaining
Deloitte’s Center for Controllership released a new poll highlighting why accounting firms are looking for new talent, and why accountants are leaving their posts. The poll, released Monday, found that public companies have been more challenged with talent retention than their private counterparts. Last year, 82% of public firms said
New York State is expanding a tax break that allows smaller companies to circumvent the $10,000 limit on state and local tax deductions from the 2017 Tax Cuts and Jobs Act, similar to a workaround also being permitted in some other high-tax states. The legislation, which was passed by the
The Public Company Accounting Oversight Board reported Friday it uncovered a high rate of deficiencies last year in firms that perform audits of broker-dealers similar to 2020, but there were signs of improvement in terms of audit engagements and quality control systems. The proportion of inspected firms where the PCAOB
As discussed in my last article, running a mastermind group can be highly rewarding for you and for participants. But, before sending out the invites and booking a meeting place, you need to figure out the goals for the group. Here we’ll discuss how to manage the roles and responsibilities
You may not be able to touch information or even declare it as an asset on the balance sheet (not yet at least) but a recent set of experiments found that this doesn’t really matter to people in terms of how much they value it versus physical objects. The Carnegie
AuditBoard released its Third Party Risk Management solution, available Tuesday as an extension of the company’s connected risk platform. The solution allows for tasks like periodic monitoring of vendor control environments and vulnerabilities, the ability to create custom risk assessments (or use one of its templates) to assess vendors and