Month: July 2020

Father-daughter dance; long-distance relationships; this auction is closed; and other highlights of recent tax cases. Garden Grove, California: Preparer Michael Hung Lee, 70, has pleaded guilty to federal criminal charges that he filed false returns and cheated the U.S. out of nearly $5 million. From 2014 to March 2018 Lee owned and operated the prep
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Today, Senators Ted Cruz (R-TX) and Martha McSally (R-AZ) introduced the CREATE JOBS Act (Cost Recovery and Expensing Acceleration to Transform the Economy and Jumpstart Opportunities for Businesses and Startups) that would make two significant changes to incentivize investment in the United States. The proposal would prevent scheduled changes that would worsen the tax treatment
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As stay-at-home notices are expiring, CPA firms and tax practices nationwide are making decisions on how and when to return to their traditional workspaces. While the process continues, employers and employees have many risk factors to consider. There are multiple sets of guidelines that must be followed, observed Stan Sterna, vice president, professional firms, at
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During its third quarter earnings results on Thursday Apple said that the company’s shareholders approved a four-for-one stock split. Stock splits are cosmetic, meaning they do not change anything about a company’s underlying fundamentals. They can lead to renewed interest from smaller investors by making the shares — which are now cheaper — more accessible.
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On Thursday, U.S. Senators Marco Rubio (R-FL), Bill Cassidy (R-LA), Steve Daines (R-MT), and Mitt Romney (R-UT) released the Coronavirus Assistance for American Families Act (CAAF). This bill would change the way the economic impact payments—commonly known as recovery rebates or stimulus payments—could work in the next round of pandemic-driven relief for households.  The bill’s
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Financial planning is a well-defined process that takes time and attention to detail to do right. Most CPA firms still don’t take this responsibility seriously, and look to put in as little time as possible to maximize their realization rate. This is unfortunate for the profession as a whole, and even more unfortunate for the
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66% of Americans working from home say they are likelier to work nights and weekends than prior to working remotely. 19% of home workers admit to starting earlier and finishing later since working during quarantine. These statistics were unveiled by JDP’s ‘Working From Home During the Pandemic’ study. JDP provide employment screening services and background
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August 19, 2015 7 min read Opinions expressed by Entrepreneur contributors are their own. In today’s world, an accountant needs more than just a brick and mortar office. They need to continually expand their knowledge, keep up with the latest industry insights, and be able to share their knowledge with people looking for financial advice. The same
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With little time left for negotiations prior to the August recess scheduled to begin August 7, Republicans have unveiled a $1 trillion stimulus plan that includes further stimulus payments and modifications to the Paycheck Protection Program. “Surprisingly, the Senate version does not include the president’s payroll tax holiday that he requested, but instead has another
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Inheritance tax dates back to the Roman Empire, which collected 5 percent of inherited property in order to pay soldiers’ pensions. Today, the practice is widespread. The majority of European countries covered in today’s map currently levy estate, inheritance, or gift taxes. These countries are Belgium, Bulgaria, the Czech Republic, Denmark, Finland, France, Germany, Greece,
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CNBC’s Jim Cramer said President Donald Trump’s Thursday morning tweet that suggested delaying the November election could cause problems for equity investors.  “It sows chaos, and chaos is bad for the stock market,” Cramer said on “Squawk on the Street.”  Dow futures extended their fall slightly in the wake of Trump’s tweet. They then made
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