The IRS on Wednesday issued final regulations under which the reduction in the personal exemption amount to zero for tax years 2018–2025 will not be taken into account in determining whether a person is a qualifying relative under Sec. 152(d)(1)(B) (T.D. 9913). The regulations finalize without substantive change proposed regulations (REG-118997-19) issued in June providing […]
Archives for September 2020
Snowflake is about to make its market debut in the largest ever software IPO
Snowflake banners decorate the New York Stock Exchange to market the debut of the software company’s shares in New York on Sept. 16, 2020. Source: Snowflake Snowflake is set to make its market debut on the New York Stock Exchange on Wednesday, in the largest ever software IPO. As of 12:32 p.m. ET, shares were indicated to […]
CDC director says he’s ‘deeply saddened’ by allegations of ‘sedition’ from Trump HHS appointee
Robert Redfield, director of the Centers for Disease Control and Prevention (CDC), speaks during a House Select Subcommittee on the Coronavirus Crisis hearing in Washington, D.C., July 31, 2020. Erin Scott | Pool | Reuters Dr. Robert Redfield, director of the Centers for Disease Control and Prevention, said he was “deeply saddened” by remarks made […]
Public-private sector experience benefits quality across accounting – Accounting Today
We often hear folks raise the issue of the “revolving door” between the private and public sectors as a potential area of concern for the accounting profession — an idea that I could not disagree with more. As I learned first-hand as the former chair of the Financial Accounting Standards Board and as a partner […]
Why some banks are aggressively cutting costs and others aren’t
With the end of the third quarter bearing down, the economic pain from the coronavirus pandemic lingering, and margins looking tight for the long haul, expense cutting naturally became a hot topic of debate this week in banking industry circles. At first glance, the ax-wielding appeared to be underway and widespread. Wells Fargo and Citigroup […]
The love-hate relationship with your custodian
If you are like me, you have a love-hate relationship with your firm’s custodial bank. You love them because they provide you with asset safety, technology, trading and client statements. You hate them because of the ways they fall short: when they compete with you, when customer service is inconsistent and when their business decisions […]
Social media users troll WhiteHat Jr ads for overexposure
Illustration: Rahul Awasthi Over the past month, a section of social media users has been busy trolling WhiteHat Jr — the education technology startup that was recently acquired by Byju’s in a $300 million all-cash deal — for bombarding users with advertisements across TV and digital platforms. The constant exposure to advertisements by WhiteHat Jr, […]
Powering through
We’re not going to be able to lockdown again, societally speaking, so the only option is to power through. Baseball powered through a wave of infections. College campuses are powering through right now. There is no choice. We’re a few months away from a vaccine approval and treatments have gotten better and better. But when […]
Hedge fund exec appeals £100,000 FCA market abuse fine
The FCA has fined hedge fund executive Corrado Abbattista £100,000 for market abuse and banned him from any regulatory activity. Mr Abbattista, who has appealed against the notice, was an experienced trader and a portfolio manager, partner and chief investment officer at Mayfair-based Fenician Capital Management LLP. Mr Abbattista has referred the FCA’s Decision Notice to the Upper […]
Helping Business Owner Clients Cope With Feelings Of Shame And Guilt Arising From Making Difficult (Or Unpopular) Financial Decisions
Executive Summary Business owners are faced with tough decisions every day that challenge them to run their businesses efficiently and to keep their employees happy. Yet, when it comes to decisions about asking for help, many often experience feelings of guilt and shame. And in the current pandemic environment, with recent government programs like PPP […]