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    1. Moving from a high-tax state? Be prepared for a residency audit

      Moving from a high-tax state? Be prepared for a residency audit

      “Should I stay or should I go?” sang the Clash years ago. Residents of New York, Connecticut, New Jersey, Rhode Island, California and other high-tax states are now singing a similar song. The thought of moving to a lower-tax state is more prevalent than ever in light of the federal Tax Cuts and Jobs Act and its restrictive $10,000 cap on state tax deductions.

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    2. In corporate tax, the pressure is rising

      In corporate tax, the pressure is rising

      Growing complexity in the world of tax, and corporate pressures to do more with less, are creating opportunities for accountants to bring some much-needed relief to business clients, according to leaders at Deloitte Tax LLP.

      “There’s been a 40 percent reduction in the corporate tax rate – but at the same time, our clients in tax departments are under pressure to deliver the same value in a more cost-efficient fashion,” Deloitte Tax LLP chairman and CEO Steve Kimble told a recent gathering in New York City. “The complexity of the law is going up, but the pressure to drive costs down is also going up.”

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      Mentions: Robert Williams
    3. IRS sends second round of tax warnings to cryptocurrency investors

      IRS sends second round of tax warnings to cryptocurrency investors

      Some cryptocurrency investors are receiving a new round of letters from the Internal Revenue Service telling them that their federal tax returns don’t match the information received from virtual currency exchanges, a new front in the agency’s burgeoning scrutiny of the industry.

      The letters acknowledge that trading exchanges, not the taxpayers, may have made the errors.

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    4. The most common tax problems for 2020

      The most common tax problems for 2020

      With more freelancers than ever before, this also means more taxpayers will be required to pay quarterly estimated taxes for the 2019 tax year. Unfortunately, some people are not aware that they have to do this, or don’t know how and when to make their payments.A failure to pay quarterly estimated taxes does a couple of things. First off, it leaves the taxpayer with a massive tax bill come April. Secondly, it can actually trigger late fees and interest on top of the base tax figure.

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      Mentions: Robert Williams
    5. Bags stuffed with cash add to pressure for cannabis banking law

      Bags stuffed with cash add to pressure for cannabis banking law

      Senator Jeff Merkley once shadowed a cannabis grower and dispenser as he tried to pay his state taxes. He stuffed a backpack with $70,000 in $20 bills and drove 50 miles — unguarded — with the bulging bag in the back seat. Once he arrived at the Oregon Department of Revenue, he went through multiple rounds of security to deposit his satchel in a room packed with guards looking after the millions of dollars pouring in from other cannabis companies.

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    6. Xero makes powerful partnerships for the future

      Craig Walker, chief technology officer of Xero and a founding executive of the company, is the kind of guy who can build an app in a weekend — and that’s what he did back in 2011 when Xero first entered into a partnership with Stripe. At Xerocon, he described how he met with one of Stripes early business developers on a Friday, built the API integration for Stripe over the weekend, and deployed the payments button inside Xero by Monday.This year marks just the latest expansion of the partnership between the two companies. Walker and his team have built ...

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    7. IRS audit rate continued to decline last year

      IRS audit rate continued to decline last year

      The Internal Revenue Service’s audit rate went down again in 2018, according to data released Monday by the IRS.

      The IRS Data Book for 2018 showed that compared to 2017, there were fewer audits during fiscal year 2018, from Oct. 1, 2017 to Sept. 30, 2018. The IRS audited more than 892,000 individual income tax returns during the fiscal year, down slightly from the previous year.

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      Mentions: Robert Williams
    8. The 2019 Best Firms for Technology

      Whether you call it the Information Age, the Fourth Industrial Revolution, or just Tuesday, there can be no doubt that a massive wave of technological change is sweeping over every sector of the economy. Many businesses are being swamped, and many others are barely staying afloat — but a small group are riding the wave to a more successful future.The accounting profession is caught up in the same wave as everyone else, so Accounting Today decided to seek out the firms that are in that small group — those that are embracing technology and leveraging it to build more responsive, more ...

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    9. College scandal involved shadowy tax-exempt charity Key Worldwide with ‘yellow flags’ | Accounting Today

      College scandal involved shadowy tax-exempt charity Key Worldwide with ‘yellow flags’ | Accounting Today

      William Singer, you've heard of him unless you've been hiding under a rock this past week, a dream some now wish could be truth, is the mastermind behind Key Worldwide Foundation the foundation at the heart of the college scandal.  Designed to help provide educational opportunities, but for who and by what means.  

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    10. Start training accounting firm leaders from Day One | Accounting Today

      Start training accounting firm leaders from Day One | Accounting Today

      Where are the next generation of leaders who will carry the profession of accounting into the next decade?  What can current firm leadership do to arm their younger staff with the skills and knowledge necessary to lead?  How do we identify emerging leaders? Are millennials going to be ready to take the reins when the time comes? 

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      Mentions: Robert Williams
    11. Ask what others don’t this tax season

      Ask what others don’t this tax season

      So many firms get to the first finish line of tax season in April by working as many hours as humanly possible. This may be gratifying for May and June collections, but in the process you probably burned yourself out and may have missed the opportunity to help your clients at a higher level, with work that they want, need and would gladly pay for. Of course, that work is personal financial planning.

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      Mentions: Robert Williams
    12. California sets new post-Wayfair sales tax rules

      California sets new post-Wayfair sales tax rules

      In a much-anticipated move, the California Department of Tax and Fee Administration announced last week that out-of-state retailers who sell above certain thresholds will have to start collecting California use taxes on their sales into the state, starting April 1, 2019.

      Since the landmark Supreme Court decision in South Dakota v. Wayfair last finding that out-of-state retailers can be required to collect sales tax, states have been scrambling to come up with new sales tax regimes. California is one of the first big states to announce its policy; other large states like Texas, New York and Florida have yet to weigh in.

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    1-24 of 120 1 2 3 4 5 »
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