Although there’s comparatively less sales tax fraud in this country, there are plenty of fraudulent sales — and some lawmakers think it’s time marketplace facilitators help prevent it. To help prevent someone from selling stolen goods on a marketplace, California and several other states want marketplaces to obtain and share
This two-part series will be devoted to the twists and turns in the rules that govern sales of investments to “related parties” (Internal Revenue Code Section 267). In most cases, the tax code allows an investor to claim losses on her investments when she sells them. But I remind investors
Across nearly every industry, profession and organization, diversity is seen as a positive goal for which to strive. This is validated by McKinsey’s 2020 Report “Diversity Wins: How Inclusion Matters,” which provided statistics proving the concrete benefits of having a more diverse workforce. As the general population in the United
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,
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
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
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
The previous five parts in this series discussed how ownership of conventional single-family dwellings differs from ownership of condos or co-op apartments. They also explained when the IRS allows owners of a co-op apartment to build up the adjusted basis for their apartment or requires them to decrease it, as
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
