Tax, accounting, auditing news - Journal of Accountancy

October 17, 2022

Understand the tax consequences of remote work

CPAs can play crucial roles in helping navigate the evolving landscape as state tax authorities ramp up efforts to source additional revenue from out-of-state workers and the companies they work for.

October 14, 2022

How to negotiate a job offer

Follow these five tips to secure the best deal.

October 13, 2022

Social Security wage base, COLA set for 2023

The Social Security Administration announced the maximum amount of wages subject to Social Security tax in 2023 and a cost-of-living adjustment (COLA) for Social Security benefits. The COLA is 8.7%.

October 13, 2022

Inherent risk and SAS No. 145: New concepts and requirements

New inherent risk factors introduced by SAS No. 145 aim to assist in risk identification. Understand how the changes will affect your 2023 audits.

October 12, 2022

SEC modernizes recordkeeping rules

Amendments adopted Wednesday provide broker-dealers more flexibility when it comes to how they store electronic records.

October 11, 2022

Final regulations adopt ‘family-friendly’ health care affordability test

Previous regulations had based the affordability of employer-offered coverage for family members on the cost of an employee’s self-only coverage.

October 11, 2022

The ins and outs of Roth IRAs for children

It’s possible to fund Roth IRAs for children, and this could be a terrific financial planning move for their futures, although the strategy has limitations.

October 11, 2022

SEC reopens public comment periods due to technological error

Anyone who commented on the SEC’s last 12 rulemaking releases is encouraged to make sure their comments were received.

October 6, 2022

FASB proposes improvements to segment reporting

FASB issued a proposed Accounting Standards Update that would improve the disclosures about a public entity’s reportable segments and address requests from investors and other allocators of capital for additional, more detailed information about a reportable segment’s expenses.

October 3, 2022

Distinguish yourself: 10 questions to impress your interviewer

That upcoming job interview works two ways. When it’s your turn to interview the interviewer, distinguish yourself using these 10 questions suggested by career experts.

October 3, 2022

R&D credit claim transition period extended

Taxpayers now have until Jan. 10, 2024, to supply missing information within 45 days of submitting a Sec. 41 research and development credit refund claim under new requirements.

September 30, 2022

FASB updates reporting standard for supplier finance programs

The Accounting Standards Update (ASU) enhances transparency required from buyer companies. Most of the ASU is effective for fiscal years beginning after Dec. 15, 2022.

September 26, 2022

IRS raises per diem standard rates for business travel

Under Notice 2022-44, the high-low method rates will be slightly higher and the list of high-cost localities in the continental United States is revised, both effective Oct. 1.

September 26, 2022

PCAOB seeks comments on interim attestation standards

The PCAOB issued a staff request for information and comment on the application and use of the board’s interim attestation standards.

September 26, 2022

AICPA again critiques new IRS requirements for R&D credits

In a second letter, the AICPA takes issue with broad new documentation requirements for refund claims involving the Sec. 41 credit, outlined in an IRS memo in fall 2021.

September 23, 2022

Penalty relief deadline fast approaches for 2019, 2020 tax returns

Taxpayers must file by Sept. 30 to qualify for late-filing penalty relief from the IRS.

September 21, 2022

AICPA apprenticeship program receives grant from Maryland Department of Labor

The first-of-its-kind Registered Apprenticeship for Finance Business Partners is set to launch in Maryland.

September 21, 2022

CFO optimism is declining as cost concerns rise

US CFOs have grown more pessimistic about the economy — thanks to increasing costs of goods and services, increasing energy costs, and supply chain challenges — according to a quarterly survey by Grant Thornton.

September 20, 2022

Stretching retirement dollars by living abroad

Practical tips could help retirees make the most of their money in a place with a substantially lower cost of living.

September 20, 2022

CPA email closings: Go pro or add a personal touch?

Accounting professionals discuss the importance of email as a communication tool and the need to think about how their emails — including the closings — reflect on their and their firms’ professionalism. They say the messages should also consider the nature of the relationship they have with the other person.

FROM THIS MONTH'S ISSUE

4 ways solo practitioners can stand out

Five years ago, a grieving Angel Zhen started his own CPA firm with no clients and no revenue. Today, he has 300 clients, $600,000 in revenue and 12 weeks of annual vacation. In this JofA article, he shares how he set up his firm and how you could do the same.