The Tax Court recently found that there’s indeed a limit on the tax deductibility of wages paid to employees by the employer. What constitutes a “reasonable” compensation for this purpose? It depends on the particular circumstances. Traditionally, the courts have relied on several key factors to make a determination if
In addition to the fantastic networking opportunities and engaging content agenda you’ll find at the AccountingWEB Live Summit this May in San Diego, we also have exhibit halls filled with vendors who offer the latest technology that will solve your problems and help you work more efficiently. This week, we spoke with Canopy,
The Public Company Accounting Oversight Board issued a Spotlight publication Monday containing some observations and reminders for auditing firms about relying on outside service providers for electronic audit confirmations. Many firms turn to third-party service providers to send and receive electronic audit confirmations to and from “confirming parties,” including banks,
In CPA professional liability cases, too often we see a disconnect between what CPAs understand their roles to be and the client’s view. Consider the following. (The scenario presented is fictional, but it is based upon actual issues and recurring themes found in professional liability cases.) A CPA’s longtime friend
Lawmakers are asking the Internal Revenue Service to expedite the processing of Employee Retention Tax Credits and not to penalize small businesses for incorrectly paying their estimated quarterly taxes as they await their claims. During a hearing Thursday before the House Ways and Means Oversight Subcommittee, Rep. Carol Miller, D-West
With the March Madness college basketball tournament getting underway, a top Democrat on the House Ways and Means Committee is asking three top schools with highly paid basketball coaches to hand over data about those compensation packages. Representative Bill Pascrell, a New Jersey Democrat, sent letters to Duke, Villanova and
As AccountingWEB gears up to host its first AWEB Live Summit this May in San Diego, AccountingWEB Senior Editor Carrie Stemke sat down with Will Baker, marketing and CPA experience director at Once Accounting Technologies, to discuss why he’s excited to be speaking at the Summit. Baker will be hosting
Your clients with household help — such as nannies, housekeepers and senior caregivers — may be paying their workers through a mobile app like Venmo or PayPal. It’s quick. It’s easy. But thanks to a new tax-reporting rule, it may no longer be a good idea. What’s new this yearUnder
Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. When you run a business, it’s essential to keep your personal and professional
Botkeeper has releaesd the Botkeeper Operating System (BOS), the latest iteration of its automated bookkeeping platform. BOS will roll out through 2022, leasing with what they propose to be a cleaner, simpler user experience. With it, accounting firms can: Experience more visibility into a centralized and consistent source of truth on
