Taxes July 17, 2024
Federal Court Shuts Down New York Tax Preparer
A federal court in the Eastern District of New York issued a permanent injunction yesterday against a Brooklyn, New York, tax return preparer.
Payroll July 17, 2024
Half of U.S. Businesses Report Lower Salary Budgets for 2024 than Previous Year
The report found employers are being more conservative with their salary budgets as they anticipate lower demand resulting in longer-term stability in their employee base following a period of high resignation and turnover.
Small Business July 16, 2024
Retail Sales Saw Modest Gains in June
The Census Bureau said overall retail sales in June were unchanged seasonally adjusted month over month but up 2.3% unadjusted year over year. That compared with increases of 0.3% month over month and 2.6% year over year in May.
Taxes July 16, 2024
AICPA Requests Clarification on Corporate AMT Form 4626, Part V
The clarification would ensure that corporations that have already determined themselves to be an “applicable corporation” for purposes of the CAMT may skip Form 4626, Part V.
Nonprofit July 16, 2024
Grant Thornton Names 20th Purple Paladin: Money Magnets Club
Through the program, Grant Thornton helps emerging nonprofit organizations move from “start-up to unstoppable” and provides funding, business advice and volunteer support, while also helping nonprofits raise awareness of their work and mission.
Accounting July 16, 2024
U.S. Uniform CPA Examination is Now Offered in the Philippines
With the increasing globalization of business, many people who live abroad are interested in obtaining the U.S. professional designation. AICPA and NASBA, in partnership with their test provider Prometric, currently offer the U.S. CPA Exam in 18 countries aside from the Philippines.
Small Business July 16, 2024
Clio Launches Accounting Solution for Law Firms
Clio Accounting is a legal-specific bookkeeping and accounting solution designed to address the unique financial needs of law firms.
Advisory July 16, 2024
New SmartVault and Liscio Integration Paves the Way for Flexible Accounting Tech Stack
The integration is particularly timely as firms seek to replace outdated systems before the upcoming tax season.
Accounting July 15, 2024
Embracing Technological Change and Expanding Advisory Services are Critical to Internal Audit Profession
The report identified several positive technology-driven changes that are expected transform internal audit over the next decade.
Accounting July 15, 2024
CFO Optimism Hits Highest Mark in 3 Years
Grant Thornton’s Q2 2024 CFO survey of more than 225 senior financial leaders revealed several other positive indicators.
Accounting Standards July 15, 2024
AICPA Comments and Requests to Testify on Foreign Trust Proposed Regulations
The submitted recommendations will simplify filing for taxpayers and practitioners, reduce the administrative burden on the IRS
Accounting July 12, 2024
AICPA Comments on Proposed Regs on Excise Tax on Repurchase of Corporate Stock
Section 4501(a) was enacted as part of the Inflation Reduction Act of 2022 and provides that a covered corporation is subject to “a tax equal to 1 percent of the fair market value of any stock of the corporation which is repurchased by such corporation during the taxable year.”
Contributors
Amy Vetter
CPA, CITP, CGMA
Becky Livingston
Accounting & AI Marketing Consultant
Brian Tankersley
CPA, CITP, CGMA
Garrett Wagner
CPA, CITP, CEO and Founder of C3 Evolution Group
Jim Boomer
CPA, CITP, CEO
Ken Berry, JD
CPA Practice Advisor Tax Correspondent
Kristy Short, Ed.D.
Accounting Content Specialist
Mary Girsch-Bock
Contributing Writer
Randy Johnston
MCS, MCP
Roman Kepczyk
CPA, CITP, CGMA
