CPA Never under estimate the value
Employees’ vacation time and other forms of paid leave would be accounted for differently by state and local governments under a proposal issued by the Governmental Accounting Standards Board.
Source: JOA News
Read More here – GASB proposes new guidance on compensated absences
An AICPA expert details some of the factors that could affect changes to filing dates.
Source: JOA News
Read More here – Will states be able to extend their tax filing seasons?
The American Institute of CPAs, citing ongoing processing problems with the Paycheck Protection Program, called on Congress to extend the program’s application deadline past the current March 31 date. The AICPA is recommending an extension of at least 60 days.
Source: JOA News
Read More here – AICPA urges Congress to extend PPP deadline
The IRS issued guidance on the employee retention credit in effect for qualified wages paid after March 12, 2020, through Dec. 31, 2020, including how it interacts with Paycheck Protection Program loans.
Source: Tax News
Read More here – IRS issues employee retention credit guidance
The IRS issued guidance on the employee retention credit in effect for qualified wages paid after March 12, 2020, through Dec. 31, 2020, including how it interacts with Paycheck Protection Program loans.
Source: JOA News
Read More here – IRS issues employee retention credit guidance
Goodwill impairment has become an area of increased focus since the beginning of the coronavirus pandemic. Here’s what CPAs need to know about goodwill impairment at this challenging time.
Source: JOA News
Read More here – Assessing goodwill impairment amid COVID-19
Here’s a chance to test your knowledge of the rules for deductibility for business-related food and beverages and/or entertainment and how much, if any, of a given expenditure can be claimed as an ordinary and necessary expense of conducting a trade or business under Sec. 162.
Source: JOA News
Read More here – Quiz: Tax deduction limitations for business meals and entertainment
The $1.9 trillion economic relief bill passed by the House of Representatives includes $25 billion for restaurants as well as additional funding for EIDL advance payments and the PPP. The bill also includes $1,400 stimulus payments to individuals and extends unemployment insurance supplements.
Source: JOA News
Read More here – House passes .9 trillion stimulus bill with a variety of small business relief
The stimulus bill passed by the House contains many tax provisions, including a new round of economic stimulus payments, tax credits for COBRA continuation coverage, and expansions of the child tax credit, the earned income credit, and the child and dependent care credit.
Source: Tax News
Read More here – Tax provisions in the American Rescue Plan Act
The stimulus bill passed by the House contains many tax provisions, including a new round of economic stimulus payments, tax credits for COBRA continuation coverage, and expansions of the child tax credit, the earned income credit, and the child and dependent care credit.
Source: JOA News
Read More here – Tax provisions in the American Rescue Plan Act
