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 […]
Archives for February 2021
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 […]
New standards continue drive toward better audits
The changes emerging for audit firm quality management standards may pose implementation challenges for firms that are comparable to those caused by Section 404(b) of the Sarbanes-Oxley Act for audit clients a generation ago, according to KPMG’s Christian Peo, CPA. Yet Peo, KPMG’s national managing partner for audit quality and professional practice, is excited about […]
Financial Planner Saunderson House to axe jobs
London-based Financial Planning firm Saunderson House is to cut about 25 jobs as the pandemic forces the firm to cut costs. The company confirmed today that a number of jobs would go but declined to comment on the number. Financial Planning Today understands that about 25 or 26 roles will be axed and some may […]
FCA faced torrent of nuisance emails in 2020
The Financial Conduct Authority received 238,711 malicious and unsolicited emails in one three month period in 2020, according to a Freedom of Information request. The watchdog’s mail servers blocked an average of 80,000 emails per month in the last three months of 2020. While the data released by the FCA only covers three months the […]
Blog: SEC enforces a clawback for accounting violations – JD Supra
Remember the clawback provision of SOX 304? That provision provides a reimbursement remedy against CEOs and CFOs when the issuer has restated its financial statements as a result of misconduct. Although the provision was enacted in 2002, it wasn’t until 2007 that an executive was successfully hit with a clawback claim (and a big one […]
Spotify Suffers Second Credential-Stuffing Cyberattack in 3 Months
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