The Conservative Party in the United Kingdom is in the process of determining its new leader as Prime Minister Boris Johnson exits the stage. The new Conservative Party leader will be the next UK Prime Minister. The process has narrowed the field to two candidates: former Chancellor of the Exchequer Rishi Sunak and Foreign Secretary Liz Truss. As with many electoral […]
New Jersey’s proposed ban on the sale of menthol cigarettes (Assembly Bill 1989) would reduce excise and sales tax collections by as much as $243 million per year. And with the significant revenue loss, smoking rates are unlikely to decline. New Jersey lawmakers should look to the recent Massachusetts experiment to see what to expect if they ban menthol in […]
The Good Brigade | DigitalVision | Getty Images As the Federal Reserve again raises interest rates to combat soaring inflation, some advisors are shifting clients’ investment portfolios. The central bank on Wednesday enacted its second consecutive three-quarters of a percentage point interest rate increase, aiming to curb rising prices without triggering a recession. The move comes as annual inflation continues […]
Securities and Exchange Commission Chair Gary Gensler commemorated the 20th anniversary of the passage of the Sarbanes-Oxley Act while calling for strict new independence standards for auditing firms from the Public Company Accounting Oversight Board. Speaking Wednesday during a webinar co-hosted by the Center for Audit Quality, Gensler discussed how he worked as a senior advisor to the late Senate […]
Scott Olson | Getty Images If you manage to beat the odds and land the next Mega Millions jackpot, don’t forget that Uncle Sam will snatch a slice of the windfall. The top prize has surged to $810 million for Tuesday night’s drawing — up from an earlier estimated $790 million — after no ticket matched all six numbers pulled […]
The Big Four accounting firms ranked near the top of the list of employers of recent college graduates, according to a recent ranking. The list, from online education information provider OnlineU, analyzed employment data from more than 560,000 graduates who entered the workforce during the COVID-19 pandemic afer earning their degrees from 2019 to 2021. The study found the top […]
If you buy something through our links, we may earn money from our affiliate partners. Learn more. Every task is a project, in business and personal life. Every project requires a strategic approach from its conception to execution. These strategic approaches involve using different skills, tools, and schedules to achieve the desired goal. Project management courses provide these skills that […]
When thinking about tax policy, economists typically distinguish between the short run and long run. While there might be temporary boosts to the economy in the short term from a tax cut due to increased incomes, changes in tax policy alter the incentives to work, save, and invest, which can produce benefits to economic growth in the long run. New […]
In this article CS Credit Suisse Chief Executive Thomas Gottstein addresses the Finanz und Wirtschaft Forum conference in Zurich, Switzerland, September 2, 2020. Arnd Wiegmann | Reuters Credit Suisse CEO Thomas Gottstein is about to step down from the embattled investment bank, the Wall Street Journal reported on Tuesday. The Zurich-based bank will soon announce the departure of Gottstein after […]
Activists participate in a rally urging the expansion of Social Security benefits in front of the White House July 13, 2015. Getty Images Two Washington Democrats — Sen. Mazie Hirono of Hawaii and Rep. Ted Deutch of Florida — teamed up last week to reintroduce legislation to strengthen Social Security. Their bill, the Protecting and Preserving Social Security Act, aims […]
Efforts to raise taxes on corporations and high-income earners recently hit a brick wall when U.S. Senator Joe Manchin (D-WV) once again expressed concerns about inflation and a potential recession. That would seem to be the end of the story, as there is no reason to think inflation will be going away anytime soon and Sen. Manchin is not alone […]
Buyers’ criteria; EARN; marriage and accounting; and other highlights from our favorite tax bloggers. Fooling ourselves Taxbuzz (https://www.taxbuzz.com/blog): What they should be asking you about finding a tax prep professional. CPA Growth Trends (https://www.cpagrowthtrends.com/): What’s in your wings? A recent Harvard Business Review showed that companies with effective pipeline management saw a 15% increase in revenue growth — and that […]
Twenty/20 The Biden administration is considering wiping out hundreds of billions of dollars in student debt. Its announcement could come as soon as next month. Why would the federal government relieve a large portion of the loans it gave out? These are some of the main reasons, according to experts. 1. A growing sense the system is broken With the […]
There are still some accounting professionals who feel that the wealth management business represents a conflict of interest that they’d rather not deal with. There are two types of conflicts of interest that need to be addressed when incorporating a financial planning division into your CPA practice. The first type is ethical and regulatory conflicts. I’d categorize the second potential […]
If you’re a business owner, your primary goal (aside from providing your customers with quality service) may be to see your company grow. There are various ways you can potentially accomplish this goal. In some cases, one way to help a business grow is by merging with another business. However, this can be a challenging process if you don’t have […]
The global tax deal that was struck last year continues to move along in slow and uncertain ways. While the global minimum tax gets much attention in the media (and in my own writings, to be honest), there is another significant piece to the deal. The global minimum tax (also known as OECD Pillar Two) would set a floor on effective […]
Paul Burns | Getty Images Claiming Social Security retirement benefits early means locking in a lower benefit amount for life. Yet a recent survey of U.S. adults ages 26 and up by Nationwide Retirement Institute found that claiming early is exactly what many Americans are planning to do. The survey found 42% of respondents plan on filing for Social Security […]
With inflation continuing to skyrocket, especially for food, which reached 10.4 percent in June, it is worth examining how the ongoing U.S. trade war with China and U.S. tariff policy overall has impacted U.S. agriculture and food prices. The economic literature shows that the U.S. import tariffs and subsequent retaliatory tariffs imposed by China and other countries on U.S. agricultural […]
KPMG’s U.K. firm, one former partner and four former employees faced sanctions Monday over auditing problems at two clients, the construction company Carillion and the data services company Regenersis. The U.K. Financial Reporting Council announced the findings of a disciplinary tribunal of the firm’s audits of Carillion for the fiscal year ending Dec. 31, 2016 and Regenersis for the fiscal […]
You’ve spent months or even years developing the product or service of your dreams. You’ve brought it to market, hired a team, and found your niche. Sales are strong and life is good. But have you really given the most important thing its due consideration? Shutterstock As a founder or owner, the business you love is also a means to […]