The flow of money from private foundations to donor-advised funds has jumped substantially in recent years, highlighting the increasing use of a controversial loophole in charitable law, a new audit shows. Private foundations, which many wealthy people use to administer their philanthropy, gave $1.68 billion to a group of DAF
Details: BSSF Wealth LLC merged with Lighthouse Wealth Management LLC, while adding an additional advisor, Teancum Light. Under the deal, BSSF Wealth is assuming the name of Lighthouse Wealth Management, which is a registered investment advisor. Its partnership with the accounting firm Brown Schultz Sheridan & Fritz will remain, however,
Jury selection in the tax fraud case against the Trump Organization saw prospective jurors excused by the dozen after the judge read out a list of people who might be called as witnesses or simply be mentioned during the trial. Donald Trump, his older sons and his daughter Ivanka are
Crystal Cooke, the director of diversity and inclusion at the AICPA and CIMA, discusses what the profession needs to do to move the dial on diversity in accounting. Transcription: Dan Hood (00:02): Welcome to On the Air with Accounting Today. I’m editor in chief Dan Hood. The accounting profession has
CohnReznick, a Top 25 Firm based in New York, has been helping government authorities make sure the funds for large-scale infrastructure projects don’t go astray as spending on such projects ramps up after passage of a federal law last year. Earlier this year, the firm announced it was partnering with
The Public Company Accounting Oversight Board has named Barbara Vanich as its chief auditor after she served as acting chief auditor for nearly two years. Vanich was named acting chief auditor in November 2020 after serving as deputy chief auditor, associate chief auditor and special advisor. She has been working
The International Public Sector Accounting Standards Board, New York, announced its 2023 board members: Nor Yati Ahmad, Malaysia; Andrew van der Burgh, South Africa; and Jona Wala, Kenya; and reappointed board members: Kamira Muriel Sanchez Nicosia, Panama; Scott Showalter, United States; and Patricia Siqueira Varela, Brazil. Lisa Daniels was appointed
ClitfonLarsonAllen, a Top 10 Firm, is growing its presence in Pennsylvania and Florida by adding Concannon Miller, a tax, accounting and consulting firm based in Bethlehem, Pennsylvania, effective Nov. 1. The deal will increase CLA’s Pennsylvania team to more than 330 people and its Florida team to over 450 people.
The accounting profession has rightly patted itself on the back for the speed and effectiveness with which, generally speaking, it pivoted to the remote work environment required by the COVID pandemic in the spring of 2020. But while many firms are treating remote work as temporary inconvenience, the 2022 Best
Inflation will drive up more than 60 tax provisions for 2023, including the tax rates, according to the Internal Revenue Service. Revenue Procedure 2022-38 details the annual adjustments for tax year 2023, with filing in 2024, including: Standard deduction. For married couples filing jointly — $27,700, up $1,800 from the prior