Updated for tax year 2021. You have plenty of expenses while your children are young. Fortunately, some of those expenses can directly or indirectly turn into tax credits and exemptions that may mean big savings on your tax bill. Take a look at the following tax benefits to see which ones could be beneficial for
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Inheritance tax dates to the Roman Empire, which collected 5 percent of inherited property to pay soldiers’ pensions. Today, the practice of inheritance tax is widespread. The majority of European countries covered in today’s map currently levy estate, inheritance, or gift taxes. These countries are Belgium, Bulgaria, Croatia, the Czech Republic, Denmark, Finland, France, Germany,
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The  International Public Sector Accounting Standards Board issued a consultation paper on natural resources on Monday to consider various issues relating to recognition, measurement and presentation of natural resources by public sector entities. The move comes amid growing interest in the accounting profession in environmental, social and governance reporting. While much of it is in
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Congress is hammering out the details of legislation designed to make the U.S. more competitive with China. Any package to incentivize further R&D should begin by ending the current tax penalty against it.   While the House and Senate-passed versions of the competitiveness legislation differ, they would support American semiconductor manufacturing, increase public funding for
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If you buy something through our links, we may earn money from our affiliate partners. Learn more. If you’re a small business owner, you know how critical it is to invoice your customers correctly and on time. Not only does it help you keep track of your income and expenses, but it also helps build
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People everywhere want some measure of assurance — something they can trust. Confidence in the quality of information is necessary for a complex society to function, and markets operate most efficiently when there’s reliable, quality information stakeholders can use to make decisions. And accountants — specifically Certified Public Accountants (CPAs) — play a key role
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The Financial Accounting Standards Board voted to add a project to its technical agenda to improve the accounting for and disclosure of certain digital assets, such as cryptocurrency. During an online meeting Wednesday, FASB’s staff informed the members of the board that they had received hundreds of requests from stakeholders for guidance on accounting for
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