Every year there are changes in the Income Tax rules of India in the Union Budget. Keeping these changes in mind we come up with our Income Tax Calculator India every year. The latest budget was presented in February 2020 and made the following changes. Income Tax Changes in Union Budget 2020 The biggest change […]
Strategies for addressing pandemic-related audit risks
Like professionals in nearly every business on the planet, auditors have suffered a tremendous disruption to their normal operations because of the coronavirus pandemic. But the magnitude of the pandemic’s fallout will only start to become clear as engagement teams plan strategies for upcoming 2020 client reviews and audits and carry out fundamental procedures like […]
RIC shareholders can take Sec. 199A deduction for REIT dividends
A regulated investment company (RIC) that receives qualified real estate investment trust (REIT) dividends will be able to report dividends the RIC pays to its shareholders as Sec. 199A dividends under final regulations issued by the IRS on Wednesday (T.D. 9899). Sec. 199A provides a deduction of up to 20% of income from a domestic […]
Accounting Today accepting 2020 MP Elite submissions – Accounting Today
We are now accepting submissions for Accounting Today’s 2020 MP Elite report. To submit, please fill out all the questions at this link. All responses are due by Monday, July 13. The MP Elite report, which will be published in August, identifies and profiles approximately a dozen of the best leaders of public accounting firms […]
PPP recipients can apply early for loan forgiveness, SBA says
New Paycheck Protection Program (PPP) guidance released Monday night declares that PPP recipients can apply for loan forgiveness early but that doing so could cost them money. In a 34-page interim final rule (IFR) issued in consultation with Treasury, the U.S. Small Business Administration (SBA) addresses a number of issues related to the PPP, which […]
All You Need to Know About Price Gouging Laws by State
One thing you never want to do is take advantage of your customers, especially during national emergencies. But sometimes, you may need to increase your prices to keep up with demand or inflation. Where do you draw the line between a standard price increase and price gouging? Not only can price gouging result in penalties, […]
Accounting professor captures ‘in-person synergy’ in transition to online learning – St. Mary’s University
A: I stay connected with God through prayer, bond with friends and family, and focus on my health and wellness. For example, I meditate, run, exercise, eat restorative foods and manage my workload to ensure excellence in all areas. Overall, I embrace the many blessings that God has bestowed upon me and I actively look for […]
PPF Calculator in Excel for Maturity, Loan and Partial Withdrawal
PPF (Public Provident Fund) is one of the most popular investment in India and rightly so. It’s safe, backed by Government and gives tax free returns. We have designed this Excel based calculator for PPF Withdrawal, Loan and Maturity which you can download. PPF Calculator Excel This PPF calculator can calculate the maximum loan eligibility, […]
FASB Q&As address application of taxonomy to pandemic disclosures
FASB issued a staff Q&A document Monday to clarify how to apply the U.S. GAAP Financial Reporting Taxonomy to disclosures related to the effects of the coronavirus pandemic and relief efforts. The staff Q&As discuss how the taxonomy should be applied to: The note to the financial statements specific to COVID-19 information. The disclosure of […]
Art of Accounting: New partner responsibilities – Accounting Today
Many new partners continue as they were, but with a higher status, and more pay. However, there is plenty for new partners to know and do, and unfortunately many firms do not have any “new partner training,” yet they have expectations of an elevated degree of performance. Here are some things to consider. (Comment: While […]