NSAC Happenings and Latest News - Page 82
FASB Proposes Tweaks for Leasing Standard
The Financial Accounting Standards Board is proposing to make a number of narrow improvements in the lease accounting standard as public companies get ready for it to take effect at the end of the year. The proposal aims to reduce some of the costs and implementation headaches of applying the leasing standard. It would also clarify a specific requirement in the standard related to lessor accounting with sales taxes and other similar ...
Read MoreTreasury and IRS Propose Regulations for Increasing Depreciation Deduction to 100%
The Treasury Department and the Internal Revenue Service proposed regulations to increase and expand the first-year depreciation deduction for qualified property from 50 to 100 percent, carrying out a provision of the Tax Cuts and Jobs Act. The tax code overhaul, which Congress passed last December, increased the first-year depreciation deduction from 50 to 100 percent for qualified property acquired and placed in service after Sept.
Read MoreQualified Business Income Deduction Regs. Proposed
The IRS issued proposed regulations regarding the qualified trade or business income deduction under Sec. 199A, which was enacted by P.L. 115-97, the law known as the Tax Cuts and Jobs Act (TCJA) (REG-107892-18). At the same time, it issued Notice 2018-64, which provides guidance on how to compute W-2 wages for purposes of the deduction, along with FAQs. The proposed rules include a way that taxpayers can group or aggregate separate ...
Read MoreSeven Safeguards to Combat Payroll Fraud
“Alice" was "Dr. Young’s" office manager, and had been with his practice for more than 15 years. He often referred to her as his lifesaver because she handled all of the administrative and bookkeeping duties. The office ran in tip-top shape and Dr. Young could focus on his passion: helping and healing his patients. Alice wore many hats for Dr. Young. She processed the office’s payroll and handled the accounts receivable and ...
Read MoreWays to Manage Workplace Conflict Better
Conflict in the workplace is unavoidable. Here are nine tips to help you best navigate workplace disagreements. 1. Avoid editorializing and exaggerating during the discussion. Focus on the facts as well as potential solutions. It’s about the end game, not how you got to where you are. 2. Conduct individual chats. Then strategically attempt to identify common interests and expectations. 3. Create opportunities for healthy ...
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