Nikola Motor Company Two truck Source: Nikola Motor Company Shares of embattled electric vehicle start-up Nikola Corp. fell by more than 8% in afterhours trading after CEO Mark Russell failed to reassure investors that the company’s $2 billion deal with General Motors would still go through and that ousted founder Trevor Milton wouldn’t suddenly sell […]

The IRS on Friday issued final regulations that coordinate the Sec. 245A extraordinary disposition rule with the Sec. 951A disqualified basis and disqualified payment rules (T.D. 9934). The regulations also contain rules under Sec. 6038 on information reporting. The regulations finalize rules that were proposed in August (REG-124737-19) and about which the IRS received only […]

In the wake of the IRS’s latest guidance denying a tax deduction for any otherwise deductible expense if the payment of the expense results in forgiveness of a Paycheck Protection Program (PPP) loan because the income associated with the forgiveness is excluded from gross income under the Coronavirus Aid, Relief, and Economic Security (CARES) Act, […]

The Trump campaign’s appeal of its devastating loss in federal court in Pennsylvania misspells the word “president” and butchers grammar. The appeal filed Monday also does not ask an appeals court to reverse its defeat or temporarily block Pennsylvania counties’ certification of votes, which are due Monday. Instead, the appeal at the U.S. Circuit Court […]

During the mortgage bubble in the early 2000s, when investors were feverishly trading faulty subprime bonds, a few savvy skeptics recognized the bonds were doomed, so they bet against them. They shorted the bonds and made billions. Now one of those players is doing the same thing, but not on subprime. He’s doing it based on […]

As qualified bookkeepers and not qualified accountants we don’t offer accountancy compliance services such as tax returns, partnership or limited company accounts.  This is because, whilst we may have covered the foundation of these in our bookkeeping  qualifications, we don’t have the knowledge or experience to give our clients the advice they need on tax […]

You own a small business. You are reluctant to move the financial and accounting work out of house. Why? Often, it comes down to money. It seems like an expensive proposition. The ironic thing is, it can cost your business more if you don’t have an accountant on your team. Am I saying this because […]

U.S. President-elect Joe Biden removes his face mask as he meets with Speaker of the House Nancy Pelosi (D-CA) and Senate Minority Leader Chuck Schumer (D-NY) at his transition headquarters in the Queen theater in Wilmington, Delaware, U.S., November 20, 2020. Tom Brenner | Reuters President-elect Joe Biden will announce cabinet appointments this Tuesday, incoming […]

U.S. President-elect Joe Biden waves as he arrives to receive a briefing on the economy with his economic advisers in Wilmington, Delaware, U.S., November 16, 2020. Kevin Lemarque | Reuters President-elect Joe Biden’s inauguration events are likely to look different from past years in order to prevent the spread of coronavirus, his chief of staff […]

Cannabis companies have an eventful four years ahead of them. Pot stocks have been hot following Election Day, with big names in the space including Canopy Growth, Aurora Cannabis, Cronos Group and Tilray all lighting up on the prospects of a Joe Biden presidency. Exchange-traded funds tracking the space have also soared over that time […]