Month: December 2022

As a relatively young practice area, CAS is still a fluid discipline — so fluid, in fact, that not everyone agrees on what CAS actually means, or what these practices consist of. There is widespread agreement, however, that it’s an extraordinarily profitable area, with growth rates that are often double those of the accounting profession’s
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Xavier Lorenzo | Moment | Getty Images When it comes to financial resolutions for 2023, there’s one goal at the top of many people’s lists: building an emergency fund. A recent survey from Personal Capital found that 31% of respondents want to increase their emergency savings, topping other goals like purchasing a car, with 15%;
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Massive losses and large tax deductions in Donald Trump’s returns reveal how the former president was able to use the Tax Code to minimize his income tax payments. Democrats on the House Ways and Means Committee released Trump’s tax returns Friday, after he lost a multi-year legal battle to keep them private. The documents show
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Former U.S. President Donald Trump on Nov. 15, 2022. Eva Marie Uzcategui/Bloomberg via Getty Images Former President Donald Trump paid millions of dollars in state and local taxes from 2015 through 2020, according to income tax returns publicly released Friday by the House Ways and Means Committee. But while the returns show associated tax deductions
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The Treasury Department signaled some imported cars will qualify for electric-vehicle tax credits in the Inflation Reduction Act, a move that could assuage Asian and European allies’ concerns about the sweeping climate legislation. The Treasury sketched out its interpretation of content requirements for electric-vehicle tax credits Thursday, while delaying final rules until March so officials
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If you buy something through our links, we may earn money from our affiliate partners. Learn more. An electric staple gun will make a quick job of the biggest projects. And compared to manual staplers an electric version requires little effort to operate. Whether you’re a professional or a DIYer, electric staple guns are a
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Ben Rains explores where the stock market stands as we close out 2022. The episode then dives into why investors with long-term horizons might seriously consider buying proven large-cap stocks poised to grow within essential industries heading into 2023 amid all of the uncertainty, recession fears, and selling. (0:45) – Stock Market Update: Everything You
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As the year’s end approached, the Internal Revenue promised regulations for some clean vehicle provisions of the Inflation Reduction Act, as well updating its guidance on accounting methods for some research and experimental expenses. The Inflation Reduction Act of 2022 made several changes to the new clean vehicle credit for qualified electric drive motor vehicles,
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In this article RSX RSXJ Follow your favorite stocksCREATE FREE ACCOUNT Russian President Vladimir Putin chairs a meeting with members of the Security Council at the Novo-Ogaryovo state residence outside Moscow, Russia November 25, 2022.  Alexander Shcherbak | Sputnik | Reuters VanEck is liquidating its Russia-centric exchange-traded funds after the ongoing war in Europe has
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bymuratdeniz | E+ | Getty Images For retirees, a new year means adjusting to changes in a variety of Medicare costs, including premiums, deductibles and copays. For 2023, some of those costs will be higher than they were this year, while others are going down. Although each change doesn’t necessarily involve a huge dollar amount,
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2022 was a busy year in accounting, with accountants facing a host of challenges and changes both old and new. Perennial issues like staffing and a backed-up Internal Revenue Service joined up with disruptive new opportunities in CAS and ESG and much more to keep the profession on its toes, even as some of the
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The $1.7 trillion federal spending bill includes a new change that will curb the abuse of tax incentives for land conservation. Pictured, Montana. Mike Kemp | In Pictures Ltd. | Corbis Historical | Getty Images The $1.7 trillion federal spending bill includes a change designed to curb the abuse of tax incentives for land conservation.
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The Internal Revenue Service announced that it has updated its frequently asked questions for the Form 1099-K, “Payment Card and Third-Party Network Transactions.” The update to Fact Sheet 2022-41 follows the agency’s recent announcement that it was pushing back the lowering of the reporting threshold to $600 from Jan. 1, 2023, and will instead treat
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