Month: July 2020

Bitcoin cryptocurrency representation is seen in this illustration photo taken in Poland on June 17, … [+] 2020 (Photo by Jakub Porzycki/NurPhoto via Getty Images) NurPhoto via Getty Images Unfortunately, scams are far too common in the cryptocurrency space. Last week, hackers broke into Twitter’s systems and lured innocent people into sending bitcoin into the
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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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The IRS has issued proposed regulations to adopt the simplified tax accounting rules for small businesses under the Tax Cuts and Jobs Act. The proposals adjust thresholds, clarify terms, and give guidance for small businesses’ methodologies when seeking certain exemptions. For tax years beginning in 2019 and 2020, these simplified rules would apply for taxpayers
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Intuit has introduced QuickBooks Cash, a business bank account with a high-yield interest rate. There are no account opening fees, maintenance fees, minimum balances, overdraft fees, or other recurring fees associated with the account. QuickBooks Cash, accessible out of the QuickBooks suite of business service, includes a machine-learning powered finance planner, 90-day cash flow projections,
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             Senator Cornyn (R-TX) and a bipartisan group of Senators (including Chairman Grassley (R-IA) and Ranking Member Wyden (D-OR) of the Finance Committee) introduced legislation, S. 3162, the “Small Business Expense Protection Act,” a few weeks ago that would clarify that businesses that receive a loan from the Paycheck Protection Program (PPP) – and the loan
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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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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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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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getty Continued economic uncertainty associated with the COVID-19 pandemic is concerning to Americans of all ages, especially those living in retirement. Below we address four questions retired investors are asking about ways to optimize their planning in the months ahead. 1. Should I waive my RMDs? The Coronavirus Aid, Relief, and Economic Security(CARES) Act—the $2
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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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