2019 - Page 10 of 17 - Journal of Accountancy

The magazines

July 1, 2019

Defining a trade or business for purposes of Sec. 199A

A taxpayer’s separate trades or businesses must be determined before calculating the qualified business income deduction.

July 1, 2019

Financial disability provision does not suspend statute of limitation on taxpayers’ refund claims

A district court rules it lacks subject-matter jurisdiction over taxpayers’ untimely refund claims.

July 1, 2019

W-2 wages and Sec. 199A

Finding the “sweet spot” to maximize the qualified business income deduction may involve adjusting a business’s workforce.

June 1, 2019

Processors: Is Intel’s Core i9 chip worth the price?

Here’s a summary of the Intel Core i7 and i9 chips, along with a summary of AMD’s highest-performing chipset for comparison.

June 1, 2019

FASB modifies definition of ‘collections’

New rules issued by the FASB align its definition of “collections” with that used by the American Alliance of Museums’ Code of Ethics for Museums.

June 1, 2019

How to keep your talented CPAs

Companies are improving retention, MAP survey shows.

June 1, 2019

Casualty loss deduction from drug-induced gambling is disallowed

The Tax Court declines to expand ‘other casualty’ beyond one sustained with respect to tangible property.

June 1, 2019

Line items

IRS expands relief from underpayment penalty … Credit for GM electric cars phasing out … IRS extends private letter ruling pilot program

June 1, 2019

Data and the deep blue sea

Artificial intelligence and predictive analytics help Georgia Aquarium inspire awareness with a goal of preserving the world’s oceans and aquatic species.

June 1, 2019

Microsoft Excel: A dynamic new way to SORT data arrays

Excel has announced a new array-based function called SORT, which can be used to sort data in one or more columns without involving a manual sort process or a complicated macro process.

June 1, 2019

How we successfully implemented AI in audit

A partner at Garbelman Winslow CPAs describes the Maryland firm’s experience using machine learning to improve its audit process.

June 1, 2019

Microsoft Excel: More Dynamic Arrays functions

In addition to the new SORT function, you may also find the new FILTER and UNIQUE array functions useful.

June 1, 2019

Income recognition changes for accrual-method taxpayers

The Tax Cuts and Jobs Act made some widely applicable but, perhaps, lesser-known changes to accrual accounting rules.

June 1, 2019

What’s ‘critical’ for CPAs to learn in an AI-powered world

The experts in our eighth annual accounting
technology roundtable focus on the development of machine-learning algorithms, along with the new skills and ways of thinking necessary to keep pace with AI.

June 1, 2019

GASB issues implementation guide

GASB issued an implementation guide that is designed to assist state and local government financial reporting personnel as they adopt and apply certain GASB statements.

June 1, 2019

‘Parsonage’ exclusion ruled constitutional

Reversing a district court, the Seventh Circuit upholds the Sec. 107 housing exclusion for ‘ministers of the gospel.’

June 1, 2019

The at-risk rules for partnerships

Know how this loss limitation differs from partners’ tax basis, and some industry-specific criteria.

June 1, 2019

The barriers to enhanced risk oversight

Major trends emerge in 10 years of surveys.

June 1, 2019

The benefits of a digitally fit risk function

Risk functions benefit from connections to digital initiatives.

June 1, 2019

Effective communication to help avoid litigation

Don’t let a “failure to communicate” escalate into a loss of clients or costly litigation.

FROM THIS MONTH'S ISSUE

Cannabis dispensary denied ERC

The Court of Federal Claims held that Sec. 280E, which prohibits deductions and credits for businesses trafficking in controlled substances, applies to the employee retention credit (ERC), including its refundable portion, and denied a cannabis business’s claim for a refundable ERC.