The New Jersey Society of CPAs, Roseland, announced it is accepting nominations for its Ovation Awards, which honors accountants from industry, private and public practice, academia and the community. The seven categories of awards include: Emerging Leaders; Diversity, Equity & Inclusion; Innovation; Exceptional Educators; Women to Watch; Impact; and Lifetime Leader. More information on the
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A pedestrian walks past a stock ticker at a Fidelity Investments office in Boston, Massachusetts. Brian Snyder | Reuters Thanks to record-breaking markets and more retirement savings, the number of 401(k) and IRA millionaires has reached a new record, according to Fidelity. Fidelity, the largest 401(k) provider in the United States, released its quarterly analysis
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Goodboy Picture Company A hot tax-advantaged opportunity is making the rounds among financial advisors. Just make sure you don’t overlook the risks. The Tax Cuts and Jobs Act, which went into effect in 2018, established so-called qualified opportunity zones — economically disadvantaged areas across the country. Funds specializing in qualified opportunity zones allow people to
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The Internal Revenue Service, along with its Security Summit partners at state tax authorities and tax prep companies, urged tax professionals and taxpayers Friday to use the free, multi-factor authentication feature offered on tax preparation software products, as nearly two dozen tax practitioner firms have reported data thefts to the IRS so far this year.
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An offer letter often includes things like the job title and description, compensation and benefits, and any terms or contingencies — but you aren’t limited to just those elements. As an employer, you can share important information, as well as add a personal touch to welcome your new potential employee to the fold. To help highlight some options, we asked Young
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Wedbush Securities’ Dan Ives praised Tesla’s announcement on Thursday morning of a new $2 billion common stock offering. “It’s a smart, strategic move,” Ives said on “Squawk Box.” “It takes any doomsday scenario around cash crunch … off the table.” Shares of Tesla , which have skyrocketed recently, were under some pressure on Thursday after
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The American Accounting Association has announced that five new members will be inducted into its Accounting Hall of Fame this August during the organization’s Annual Meeting in Atlanta. Started at Ohio State University in 1950, the Accounting Hall of Fame has inducted 101 members since its inception. Bruce Behn, past president of the AAA and
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Numbers game; we have a loser; scrapped; and other highlights of recent tax cases. Philadelphia: Preparer Abdoulaye Coumbassa has been sentenced to two years in prison for aiding in the preparation of a false client tax return. Coumbassa, who pleaded guilty last year, owned and operated Abbi Tax Services and Accounting. From at least 2012
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Loss carryover provisions allow businesses to either deduct current year losses against future profits (carryforwards) or deduct current year losses against past profits (carrybacks). Many companies have investment projects with different risk profiles and operate in industries that fluctuate greatly with the business cycle. Carryover provisions help businesses “smooth” their risk and income, making the
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Thursday, Sen. Pat Toomey (R-PA) introduced the “ALIGN Act,” which would make 100 percent bonus depreciation for short-life assets a permanent feature of the tax code and provide a technical correction to the 2017 tax law’s “Retail Glitch.” The Tax Cuts and Jobs Act (TCJA) of 2017 enacted a policy called 100 percent bonus depreciation,
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