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The Internal Revenue Service released final regulations Monday to offer guidance on deductions for estates and non-grantor trusts, clarifying that certain deductions aren’t to be considered miscellaneous itemized deductions. The Tax Cuts and Jobs Acts of 2017 forbids individuals, estates and non-grantor trusts from claiming miscellaneous itemized deductions for any taxable year starting after Dec.
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Nikola Motor Company Source: Nikola Motor Company In recent months, three story lines have captivated Wall Street: SPACs, electric vehicle companies and the rise of retail traders. The outsized success of the first two, and novice investors entering the market in record numbers, have led some investors to claim this is an indication of froth.
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Scott Heins | Getty Images News | Getty Images Mom-and-pop landlords are in a worse financial position relative to their higher-earning peers as unemployment remains elevated and Americans continue to struggle to pay rent, according to a new analysis. Roughly a third of individual landlords who own residential property are from low- to moderate-income households
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Late last week, Democratic presidential candidate Joe Biden released a piece reviewing his tax proposals, contrasting them with President Donald Trump’s tax ideas. A major theme within this piece can be summarized in the title: “A Tale of Two Tax Policies: Trump Rewards Wealth, Biden Rewards Work.” Biden raises an important question regarding how work
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Acumatica has released its latest software update, and it includes a new point-of-sale tool, advanced expense management, and a new, deep integration with Shopify. Also new for the 2020 R2 release is automatic creation of accounts payable documents from vendor bills, driven by artificial intelligence embedded in the software. R2 offers self-joining tables and automatic
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Democratic presidential candidate former Vice President Joe Biden reacts while giving a speech during a campaign event at Tougaloo College on March 08, 2020 in Tougaloo, Mississippi. Jonathan Bachman | Getty Images The 2020 presidential election could be a make it or break it moment for Social Security. The reason: Social Security’s funding, already on
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Mauldin & Jenkins, a Top 100 Firm based in Atlanta, has acquired Plush Smith P.A., a firm in Sarasota, Florida, expanding M&J’s presence in the Southeast. The Sarasota office will be the firm’s ninth office in the region. Mauldin & Jenkins also has an office in Bradenton, Florida, along with other locations in its home
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Getty Images Saving for retirement is crucial. Yet trying to figure out the best retirement plan may leave many people confused. You may have the option to contribute to an employer-sponsored plan, like a 401(k) plan. There are also individual retirement accounts: the traditional, into which contributions are made pre-tax, and Roth IRAs, in which
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Accounting Today is issuing a call for nominations for the 2020 edition of its annual Top 100 Most Influential People in Accounting list. The list profiles a wide range of figures who wield influence over the profession, from association leaders, to state and federal regulators, thought leaders, practitioners, academics, consultants and grassroots activists. To cast the
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