Finance Minister Piyush Goyal has proposed many changes in tax rules in Budget 2019. We present you 5 key changes that would impact all income tax payers. Increased Tax Rebate u/s 87A: While making the budget speech, Finance Minister said that people with taxable income of Rs 5 lakh would get full tax rebate. Many […]
5 blockchain trends to watch in 2020 – Accounting Today
As 2019 rapidly wraps up and 2020 looms on the horizon, it seems an appropriate time to take a step back and reflect on the many changes that have occurred in the blockchain and cryptoasset spaces. There certainly have been a lot of headlines and market coverage during the year, so trying to go back […]
What In the World Is Economic Nexus, and Does it Impact Your Business?
As a business owner, you have likely heard of the term sales tax before. Heck, you might have even heard about sales tax nexus before. But, have you heard of economic nexus? If you have in-person or online sales, it’s time to listen up and learn about economic nexus. Read on to learn what is […]
11 Tax Free Components You Must have in Salary
Your salary consists of lot of components, some of them are fully taxable, and some are partially taxable while remaining is tax free and hence Salary structure become very important. Here is a list of 11 components in your salary that is tax free. In case you have it in your pay slip, great – […]
Section 87A – Most important change for Income Tax Payers in Budget 2019
Section 87A was introduced in Budget 2013 and it provides marginal relief to small tax payers. In this post we provide details about the eligibility, the benefits and how it has changed since it was first introduced. Section 87A Eligibility: The tax rebate under section 87A is only available to resident individuals with net taxable […]
Voluntary Provident Fund – A Good Tax Saving Retirement Option!
Retirement planning is one of the most important financial goals in life of a person. Most of us have heard about Employee Provident Fund (EPF) and (Public Provident Fund) PPF for building retirement corpus but do you know how can you leverage Voluntary Provident Fund (VPF) to add zing to your corpus? What is Voluntary […]
AICPA proposes updates to material tested on CPA Exam
The AICPA is proposing changes to the CPA Exam Blueprints to update the subject matter tested on the CPA Exam to ensure it continues to focus on the core knowledge and skills required of newly licensed CPAs. In an Exposure Draft and Invitation to Comment issued Monday, the AICPA describes major themes derived from a […]
The 12 Tax Days of Christmas: Day 4
Putting your spouse on payroll can be a wonderful strategy, or a nightmare that could cost you thousands. December 21, 2019 7 min read Opinions expressed by Entrepreneur contributors are their own. Rather than your true love sending you a partridge in a pear tree, wouldn’t you appreciate some money-saving tax tips? For my year-ending […]
Adaptive learning self-study enabled in new CPE provider rules
Rules for continuing professional education providers for CPAs have been changed to accommodate adaptive learning self-study programs and address other issues. The National Association of State Boards of Accountancy (NASBA) and the AICPA announced that they have approved revisions to the Statement on Standards for Continuing Professional Education (CPE) Programs and the NASBA Fields of […]
EY’s Jones to succeed Golden as FASB chair
Richard Jones, who has spent 32 years at EY, will succeed Russell Golden as FASB’s chair when Golden’s term expires at the end of June, the Financial Accounting Foundation (FAF) board of trustees announced Thursday. Jones will join FASB early next year to enable an orderly leadership transition. He is chief accountant and partner at […]