Hot Topics Article Archives - Page 46
IRS Proposes Rules for Business Interest Expense Deduction Limit
The Internal Revenue Service proposed regulations for a provision of the Tax Cuts and Jobs Act that limits the business interest expense deduction for some kinds of taxpayers. Certain small businesses whose gross receipts are $25 million or less, along with certain trades or businesses, aren't subject to the limits under this part of the new tax law. For tax years starting after Dec. 31, 2017, the deduction for business ...
Read MoreIRS Raises Mileage Rates for 2019
The IRS will raise most 2019 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. On Jan. 1, the rates for the use of a car (also vans, pickups or panel trucks) will be: 58 cents/mile driven for business use, up 3.5 cents from 2018; 20 cents/mile driven for medical or moving purposes, up two cents from 2018; and, 14 cents/mile driven in ...
Read MoreNSAC Installs new Board of Directors, Officers, announces membership campaign recipients and recognizes members with years of service to the Society.
During our time in Austin we introduced the new elected leadership team for 2018-19, they are as follows: President, William Miller, CPA Electric ChapterVice President, Nick Mueting, CPA, CFE Mid-West ChapterSecretary/Treasurer Dave Antoni, Capitol ChapterPast President, Jeff Brandenburg, CPA, CFE Great Lakes ChapterExecutive Committee Member, Erik Gillam, Pacific Northwest ChapterExecutive Committee Member, April Graves, Texas ...
Read MoreHow to Master Performance Reviews
Express gratitude for any kind of feedback you receive, because it presents opportunities to improve. Traditional Performance evaluations are going extinct. The rapid pace of change in the modern business landscape has decreased the utility of formal, once-a-year reviews, which once loomed large over workers' careers and earnings. Most employees won't miss those dinosaurs, experts say, noting that younger workers especially crave ...
Read MoreFASB Expands Private Company Consolidation Relief
FASB addressed an area of accounting that has long been a concern for private companies with the issuance of a standard designed to improve consolidation accounting for private companies. The standard-setting board also amended for all entities the guidance for determining whether a decision-making fee is a variable interest. The changes were published in Accounting Standards Update No. 2018-17, Consolidation (Topic 810):
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