The IRS posted an advance copy of final regulations that provide guidance on how an exempt organization subject to the unrelated business income tax (UBIT) determines if it has more than one unrelated trade or business (T.D. 9933). The regulations also discuss how an exempt organization calculates unrelated business taxable income (UBTI) if it has […]
Archives for November 2020
Good Heavens! 10M Impacted in Pray.com Data Exposure
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Weekend Reading for Financial Planners (Nov 21-22)
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Electric vehicle Loan Income Tax Benefit – Section 80EEB
The popularity of Electric Vehicle (EV) is growing. The electric vehicle is seen as a replacement for traditional petrol-based vehicles. The prime reason is electrical vehicle addresses the rising issue of pollution and global warming. Additionally, it also addresses the issue of depleting natural resource petrol (fossil fuel). As we know that petrol is a […]
Regulation Best Interest: A rule that works
With the dust settling from the elections and a new administration incoming, the independent financial services industry is prepared to see some changes in the regulatory and policy environment. At the same time, there are areas where existing regulations are working to protect investors and to deliver clarity for our industry and it will be […]
Rocket Lab recovers booster after launch in major step toward reusing its small rockets
An Electron rocket gets ready to launch. Rocket Lab Rocket Lab, the leading company building and launching small rockets, on Thursday took what CEO Peter Beck described as a “huge milestone” in its work to reuse rockets. The company recovered the booster of its Electron rocket after it splashed down in the Pacific Ocean. The […]
CPA Exam gets refresh after practice analysis
Emphasis on understanding business processes and data analytics is being expanded while other topics are being phased out as the CPA Exam undergoes a refresh designed to maintain its relevance to the evolving work that newly licensed CPAs perform. New CPA Exam Blueprints released Friday are the result of a comprehensive practice analysis performed by […]
Gene experts claim they identified human genes that can protect against Covid-19
COVID-19 Coronavirus molecule, March 24, 2020. CDC | API | Gamma-Rapho via Getty Images A team of CRISPR scientists at the New York Genome Center, New York University and Icahn School of Medicine at Mount Sinai say they have identified the genes that can protect human cells against Covid-19, a disease that has infected over […]
Grant Thornton survey: Half of M&A deals experience accounting disputes – Manchestertimes
CHICAGO–(BUSINESS WIRE)–Nov 20, 2020– Approximately half of all merger and acquisition (M&A) deals wind up in some form of accounting dispute, according to a recent survey from Grant Thornton LLP. The survey — which included nearly 200 U.S.-based M&A professionals — also found that 66% of the survey respondents felt the COVID-19 pandemic has increased […]
What Can a CPA Do that an Accountant Can’t?
When managing your business, navigating the financials and federal compliance can feel inundating without proper knowledge or training. When considering partnership with an outsourced financial professional, are you having a hard time distinguishing a CPA from an accountant? Are you wondering, “what can a CPA do that an accountant can’t?” In the content below, we […]