Residents of New Jersey, Massachusetts and Connecticut will face the highest tax burdens over a lifetime, according to a new study. Those living in New Jersey will pay on average a grand total of $931,698, well above the $827,185 for Massachusetts residents and $805,213 for Connecticut. Nationwide, Americans will pay
The accounting and finance profession is having trouble retaining employees from different racial, ethnic and gender backgrounds, but there are some strategies organizations can use to hold onto diverse employees. A study released in February by the Institute of Management Accountants and the California Society of CPAs found that 43
Remember Blockbuster Video? It wasn’t so long ago that Blockbuster dominated the video rental space with 9,000 stores worldwide and close to $6 billion in revenue. Remember the annoying late fees Blockbuster kept charging customers pre-Netflix/Amazon? Those late fees were actually part of Blockbuster’s business model. They said, “That’s just
Garret Layman BKD, St. Louis, released the new tool BKDpulse, a dashboard suite enabling college and university leaders to assess how their institution’s financial metrics and performance indicators compare to their industry peers. Anders CPAs + Advisors, St. Louis, was selected by producers of the TV show “World’s Greatest…” to
The Internal Revenue Service has clarified that dependent care benefits that are attributable to carryovers or have an extended period for incurring claims generally are not taxable for this year and next. Notice 2021-26 says that if these dependent care benefits would have been excluded from income if used during
Financial executives are eyeing tax changes expected in the Biden administration, demands for more environmental, social and governance reporting, and diversity efforts. A new survey from OneStream Software and Hanover Research, released Tuesday, polled CFOs and other finance leaders about their plans for 2021 and found that 86% of the
The American Institute of CPAs wants the Internal Revenue Service and the Treasury Department to help businesses facing foreign trade obstacles to maintaining inventory during the pandemic. The AICPA requested relief under Section 473 of the Tax Code, which allows qualified taxpayers to mitigate any substantial, unexpected increases to taxable
The Internal Revenue Service is having a hard time hiring enough staff to help it get through this year’s extended tax season and overcome its backlog of unprocessed tax returns. A new report from the Treasury Inspector General for Tax Administration, released Friday, provided interim results on the 2021 tax-filing
Brian Kolfage, whose work with Stephen Bannon to raise money for a U.S.-Mexico border wall resulted in a federal fraud indictment last year, faces new tax fraud charges. Kolfage, a disabled Air Force veteran, was indicted in Pensacola, Florida, this week for filing a false tax return and fraud. Federal
RSM US, a Top 10 Firm based in Chicago, is buying Rego Consulting’s ServiceNow workflow automation practice and plans to combine it with RSM’s own. The firms have signed an agreement for RSM to acquire the ServiceNow practice from Salt Lake City-based Rego Consulting, with the transaction expected to close
