Executive Summary Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the announcement that the CFP Board has created a new “Commission on Sanctions and Fitness”, which, in the coming year, will update the Sanction Guidelines (from private to public censure, suspension to revocation) that the CFP […]
Archives for 2021
KKR joins SPAC party seeking $1B in blank-check listing
Private equity giant KKR filed to raise $1 billion via a special purpose acquisition company. KKR Acquisition Holdings filed on Thursday with the SEC to sell 100 million units for $10 each. The vehicle will focus on acquisition targets in the consumer or retail industries, according to the prospectus. Private equity firms have been active […]
Editor’s Column: Yesterday’s client may not be tomorrow’s
I imagine most Financial Planners have a picture in their heads of their ideal client – perhaps a client who looks a bit like their existing clients. Clients who share the same financial characteristics as existing clients: successful, well-off, money to invest and who appreciate the long-term value of Financial Planning. There’s nothing wrong with […]
Senate shows bipartisan support for mobile workforce tax legislation
On Thursday, the Senate voted on amendments to S. Con. Res. 5, the fiscal year 2021 budget resolution. After more than 500 amendments to the budget resolution were filed, 41 amendments received votes on the Senate floor in a process that lasted well into Friday morning. One amendment, introduced by Sen. John Thune, R-S.D., and […]
5 steps for reliable ESG reporting amid growing demand
Financial reporting is getting a green makeover. The global trend to incorporate ESG (environmental, social, and governance) data in mainstream financial reports is accelerating. “Companies that haven’t begun thinking about sustainability reporting and how ESG topics will impact them should start doing so, regardless of their size,” said Corinne Dougherty, CPA, a partner at KPMG […]
Eligible educators may deduct personal protective equipment expenses
News Expenses & Deductions By Sally P. Schreiber, J.D. The IRS provided a safe harbor under which “eligible educators” can deduct unreimbursed expenses for COVID-19 protective items as educator expenses under Sec. 62(a)(2)(D) (Rev. Proc. 2021-15). COVID-19 protective items include, but are not limited to: Face masks; Disinfectant for use against COVID-19; Hand soap; Hand […]
Amazon loses effort to halt Alabama union drive, voting begins next week
Peter Endig | AFP | Getty Images Amazon lost out on its push to postpone a closely watched union vote at its Bessemer, Ala.-based warehouse. Last month, Amazon appealed the National Labor Relations Board’s (NLRB) decision to let roughly 6,000 warehouse workers vote by mail on whether to join the Retail, Wholesale and Department Store […]
Hedge funds risk Biden-era end to money-laundering loophole
Private equity and hedge funds face an increased risk that the U.S. will close a longstanding money-laundering loophole for assets they manage. All it would take is the Biden administration to quickly revive a rule that was developed during Barack Obama’s term but left unused by Donald Trump. The U.S. has intensified its crackdown on […]
Employers added 49K jobs in January, including 3.8K in accounting – Accounting Today
The unemployment rate declined in January to 6.3 percent as employers added 49,000 jobs in the midst of the pandemic, including 3,800 in accounting and bookkeeping services. The U.S. Bureau of Labor Statistics reported improved job numbers Friday for January after steep job losses of 227,000 in December, when the unemployment rate was 6.7 percent. […]
Wall Street’s First Black Millionaire (with Shane White), the Case for Buying Silver (with Peter Boockvar)
Josh is doing Black (Financial) History month on the podcast all month long, bringing on historians and authors to discuss some of the most pivotal economic moments for African Americans ever. Black History is AMERICAN history, don’t get it twisted. This week, University of Sydney history professor and author Shane White joins to discuss his […]