Article by SHANNON SMITH RETZKE AND AARON D. SCHUMACHER | Featured on AccountingToday.com It’s the beginning of the end of the filing date disconnect between foreign bank account reports and income tax returns. On July 31, President Obama signed the Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 into law, which modified the […]
Article by AP | Featured on OPG Gov. Kate Brown has declared drought emergencies in three more Oregon counties. With Tuesday’s declaration, 23 out of 36 counties are under drought emergencies. The new ones are Curry, Hood River and Union counties. Brown says this year’s extreme drought reflects a new reality for Oregon and dealing with it is […]
PRINCETON – The international system of economic governance is at a turning point. After 70 years, the Bretton Woods institutions – the International Monetary Fund and the World Bank –appear creaky, with their very legitimacy being questioned in many quarters. If they are to remain relevant, real changes must be made. The IMF, in particular, […]
Article by Larry Smith & Ken Euwema | Featured on Journal of Accountancy As a part of the response to the call for increased transparency and accountability among not-for-profit entities (NFPs), FASB has taken on a project to improve the existing NFP financial reporting model. The goal is to improve the usefulness of NFP financial statements by […]
Article by Bobbi Rebell | Featured on Reuters Another Millennial myth may be biting the dust. Apparently, Millennials have better retirement saving habits than Baby Boomers. Millennials save 8 percent of their paycheck for retirement, according to a recent survey from T. Rowe Price. Baby boomers are just slightly ahead at 9 percent. The only […]
Article by Vicki Needham | Featured on thehill.com | Image Credit: TungCheung / Shutterstock.com Citibank will pay $700 million to 8.8 million consumers for illegal credit card practices as part of a settlement with a federal government watchdog. The Consumer Financial Protection Bureau (CFPB) said Tuesday that Citibank and its subsidiaries engaged in deceptive marketing […]
Great article about how to handle taxing food and lodging provided by your employer. Article by Alan D. Campbell, CPA, Ph.D., and Dena S. Mitchell, CPA on Journal of Accountancy Gross income generally includes the fair market value (FMV) of meals and lodging received from one’s employer. However, Sec. 119 allows an employee to exclude […]
Article by Ashlea Ebelling | Featured on Forbes | Featured Image by Rena Schild / Shutterstock.com Today’s historic Supreme Court decision, Obergefell v. Hodges, affirmed a constitutional right to same-sex marriage in all 50 states, opening up tax, estate planning and employee benefits opportunities for couples in the 13 states that have not permitted same-sex marriage. […]
NEW HAVEN – In the late 1980s, there was intense debate about the so-called productivity paradox – when massive investments in information technology (IT) were not delivering measureable productivity improvements. That paradox is now back, posing a problem for both the United States and China – one that may well come up in their annual […]
PARIS – In 1983, the American economist and Nobel laureate Wassily Leontief made what was then a startling prediction. Machines, he said, are likely to replace human labor much in the same way that the tractor replaced the horse. Today, with some 200 million people worldwide out of work – 30 million more than in […]