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The Financial Accounting Standards Board is aiming to clarify the interaction between two of its accounting standards: the standard on recognition and measurement of financial instruments and the standard on equity method investments. FASB issued a proposed accounting standards update Tuesday after hearing questions from some of its stakeholders about how the two standards worked
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An interview with billionaire CEO of Citadel, Kenneth Griffin. In this interview, Kenneth discusses the power of capitalism and the destructive force of socialism. Kenneth also talks about changes in the financial markets, AI and how nations can stay competitive. Like if you enjoyed Subscribe for more:http://bit.ly/InvestorsArchive Follow us on twitter:http://bit.ly/TwitterIA Other great Stock Market
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An interview with billionaires Warren Buffett, Charlie Munger and Bill Gates. In this interview, Warren discusses his acquisition strategy and how to negotiate, including how gains and falls in the wider economy plays into his strategy. The gentlemen also talk about current investments and ones they have missed, including the impact of trade tariffs on
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The Internal Revenue Service has issued a revenue procedure giving some partnerships extra time to file a Form 1065 and the accompanying Schedule K-1 as long as they haven’t opted out of the IRS’s new centralized partnership audit regime. Andrew Harrer/Bloomberg Revenue Procedure 2019-32 grants eligible partnerships an extension of time to file a superseding
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Not so Smart; The Kings are dead; sick ideas; and other highlights of recent tax cases. Greenville, Ohio: Glass company owner Gail Cooper, 64, has pleaded guilty to failing to account for and pay over employment taxes. Cooper was the sole owner of Greenville Architectural Glass during 2007 through 2015. GAG primarily installed glass in
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The Internal Revenue Service has resurrected a form that hasn’t been used since the early 1980s, Form 1099-NEC, Nonemployee Compensation, with a draft version available for preview on its website. Since 1983, the IRS has required businesses to instead file Form 1099-MISC for contract workers and freelancers. The revival of Form 1099-NEC is part of
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The legal dam against state and local income taxes in Washington state has sprung a leak. On July 15, a division of the Washington Court of Appeals issued a surprising ruling teeing up for the State Supreme Court an opportunity to reconsider a longstanding constitutional precedent prohibiting nonuniform taxes on income. The case involved a
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The Italian government has been working for multiple years on a proposal that would tax the revenues of digital companies. This effort has been delayed more than once and even now, it is unclear when the policy will ultimately be implemented. According to the most recent news, the tax will be introduced in 2020, hoping
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Many countries provide targeted tax relief for families with children, typically through targeted tax breaks that lower income taxes. As today’s map shows, the extent to which such tax relief is granted varies substantially across European countries. One way to measure targeted tax relief for families is to compare the tax burdens on labor of
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As countries around the world have been working to address challenges of taxing multinational companies, one theme has been the implementation of tax transparency measures. In theory, requiring businesses to disclose the details about where they do business around the world and where they pay taxes and book their profits will allow governments more leverage
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