The Sustainability Accounting Standards Board is readying more standards as it prepares for an upcoming merger, while the Securities and Exchange Commission increasingly focuses on environmental, social and governance reporting. SASB held a board meeting Wednesday to discuss some of its upcoming standards on tailings management, human capital, supply chain
Hiring is no longer limited by physical location. By leveraging technology, we can expand our teams to include people from different geographical locations, broaden our talent pool, reduce overall business costs and provide better client service. But how do you hire someone if you never meet them in person? The
I often receive queries from freelancers, consultants and other kinds of self-employed individuals who use their homes to run their businesses and ask how to take maximum advantage of the IRS’s complex rules for deducting home-office expenses. In particular, they want to know which write-offs are okay and which aren’t.
The House Ways and Means Committee approved bipartisan legislation Wednesday to expand automatic enrollment in 401(k) plans, expand a tax credit for small-business startups and promote the Saver’s Credit. The legislation, known as the Securing a Strong Retirement Act of 2021, was reintroduced Wednesday by House Ways and Means Committee
In a new Tax Court case, Max, TC Memo 2021-37, 3/29/71, a clothing manufacturer could not claim the R&D tax credit for its process of designing garments. Generally, the R&D credit is equal to 20 percent of the amount of qualified research expenses for the year above a base amount.
Photo: David A. Brown Bill.com and Square have partnered with the San Francisco Chamber of Commerce, the Black Chambers of Atlanta and the regional economic development organization Greater St. Louis to present a webinar for small and midsized businesses as they navigate the second year of the COVID-19 pandemic. The
Ford Baker, CPA, founded the BaCo Group in 1999. For 20 years, he grew his firm, hired staff, and expanded his expertise. In 2020, a new need emerged. After developing an accounting workflow technology and a startup spinoff company called BaCo Tech, Ford needed someone to step in to take the day-to-day reins of the firm so he could better manage where his attention was going. Ford brought on Joe
The Center for Audit Quality released an alert Monday discussing the audit considerations surrounding a private company entering the public markets through a merger with a special purpose acquisition company. The alert offers an overview of what a SPAC is and some of the main considerations that both auditors and
Tax day was extended one month and two days this year to May 17, 2021. But that doesn’t mean the job will be any easier for accounting and finance professionals. More time to process files doesn’t necessarily mean more time to get work done. For accountants and tax experts, it
After transitioning most of their workforces to operate remotely for the past year, accounting firms now face the decision of if and when to have employees return to offices. Before jumping full bore into an ongoing remote workforce situation, there are critical factors to be considered when it comes to
