Becoming VAT registered can be a little daunting for those new to business.  It means keeping your accounts records organised and up to date and ensuring that you have VAT receipts for all the business expenses you want to claim back VAT on.  It also means that you need to know whether the products or […]

There’s a troubling financial blind spot for many Americans: a misunderstanding of how financial risk works. This isn’t just about betting on the stock market. It’s also about being aware of everyday financial risks, and preparing for them accordingly–even with something as basic as a rainy day fund. It pays to be smart about personal […]

In response to the coronavirus pandemic, beginning July 31, the IRS is allowing taxpayers that file Form 3115, Application for Change in Accounting Method, to fax the duplicate copy of the request, instead of mailing a paper copy. Usually the duplicate copy is mailed the Ogden, Utah, IRS office, but now taxpayers can fax it […]

Most small business owners and entrepreneurs juggle every aspect of business management, from administrative tasks to bookkeeping duties. At some point, however, many owners reach a point where managing every task becomes overwhelming, an ineffective use of time and resources. Small business owners often turn to outsourced accounting services for expert financial guidance and management. […]

The IRS issued a long-awaited package of guidance regarding the Sec. 163(j) limitation on business interest expense deductions. The guidance includes final and proposed regulations as well as a proposed revenue procedure with a safe harbor for operators of qualified residential living facilities and FAQs on the aggregation rules for determining a taxpayer’s gross receipts […]

Welcome back to our Weekly Digest. We hope you and your family are safe and doing well. Read on for this week’s update. JobKeeper Changes Coming in September Last week the PM announced the JobKeeper wage subsidy scheme will be extended from September through to March next year, with some changes. Please be aware there […]

Tim Cook, CEO of Apple, speaks in Brussels, on October 24, 2018. ARis Oikonomou | AFP | Getty Images Apple CEO Tim Cook plans to tell the House Antitrust Subcommittee on Wednesday that the company is in fierce competition with rivals for the smartphone market. “The smartphone market is fiercely competitive, and companies like Samsung, LG, […]

Most small businesses experience cash flow problems from time to time and urgently need working capital. Many business owners immediately think of the bank or loans when they’re short of money. But there are other resources you can tap before you ask for that expensive overdraft or overdraft extension. The money you need might already […]

A pedestrian walks past Intel Corp. signage at the entrance to the company’s headquarters in Santa Clara, California. David Paul Morris | Bloomberg | Getty Images Intel said Monday that Venkata “Murthy” Renduchintala, the chipmaker’s chief engineering officer and group president of its technology, systems architecture and client group, will resign on August 3.  The announcement […]

The IRS issued temporary and proposed regulations on the recapture of excess employment tax credits under the Families First Coronavirus Response Act (FFCRA), P.L. 116-127, and the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136. The regulations cover the reconciling of advance payments of the acts’ refundable employments tax credits and authorize assessments […]