For some of your high-net-worth clients, the financial strategy of liquidating life insurance via a life settlement comes with tax implications. Life settlement taxation is governed by the Tax Cuts and Jobs Act of 2017 (TCJA), signed into law by former President Trump in early-2018. TCJA created a more favorable
More than 30,231 taxpayers may now qualify for Additional Child Tax Credits totaling over $16 million after the Internal Revenue Service implemented a provision of the American Rescue Plan Act last year that expanded eligibility for premium tax credits to buy health insurance. On Friday, the White House announced plans
The Internal Revenue Service is continuing to face staffing challenges that are holding back its efforts to process both last year’s and this year’s tax returns, according to a new report. The report, released Thursday by the Treasury Inspector General for Tax Administration, found that backlog inventories left over from
As we emerge from a busy tax season, it’s clear that the dealmakers have been working hard behind the scenes to get a leg up on this year’s mergers and acquisitions (M&A) opportunities. This should come as no surprise—global M&A activity hit record highs in 2021, reaching almost $6 trillion in deals.
For the first time since 2019, Intuit’s QuickBooks Connect event is returning to the live stage but this time it is solely focused on accounting professionals. So, why is that so important? While more details are still to come, what we know is that QuickBooks Connect, which had historically been
Just joining us? Go to part one for the basics of Form 1040-X, Amended U.S. Individual Income Tax Return, formerly Form 1040X, and the guidance I would offer to a self-employed filer who needs advice on how to submit 1040-X. Subsequent columns will alert her and other filers to more aspects of
Mergers and acquisitions (M&A) are a common growth strategy for accounting firms in today’s rapidly changing marketplace. They unlock opportunities to expand into new markets, gain a competitive edge or acquire new technologies and talent. Does an M&A make sense for your firm? Before you say yes, consider this: They
Generating a trusted forecast for demand and supply even while incorporating uncertainty and optimizing inventory can seem like a daunting task…or is it? For many supply chain planners, it looks that way at first glance because forecasting and managing sales/demand planning, supply, production and sales and operations planning (S&OP) is
Details: Macias Gini & O’Connell LLP, a Top 100 Firm based in Los Angeles, has added Eckhoff & Company CPAs and Advisors, a firm in San Rafael, California. As part of the deal, Eckhoff’s team of over 20 members will join MGO and Eckhoff managing partner Michele Hassid will join
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. Today, we’d like you to
