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Tax Court Puts Up Roadblock To Travel Deduction

If you incur unreimbursed expenses while traveling away from home on business, you are generally entitled to deduct the cost of your travel expenses, within certain limits. But the tax law imposes strict substantiation requirements.

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New Study Underscores The Top Digital Trends Changing The CFO Role Today

Chief financial officers are increasingly leading the digital transformation efforts at their organizations, as part of the evolution of the role of CFOs, according to a study released last week. The online survey commissioned by accounting software maker Sage found that 76% of respondents said they believe CFOs drive digital transformation in their business.

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Don't Be Fooled By These C Corp. Fairy Tales

In my opinion, the C corp is one of the greatest pitfalls in tax planning for the small-business owner, and it astonishes me how many lawyers promote it. If they want to sell setting up a new corporation, that’s fine. However, I wish they’d sell the S corp, which might actually help people achieve their business goals.

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SALT: A Look Back And A Look Ahead

Two major issues dominated the conversation around state and local tax in 2019, according to Jamie Yesnowitz and the team at Grant Thornton’s SALT National Tax Office: the 2017 Tax Cuts and Jobs Act and the Supreme Court decision in South Dakota v. Wayfair Inc. in June 2018.

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The SECURE Act Is Changing Retirement For Many

Late last year, new legislation was signed into law that will usher in some of the most sweeping changes to retirement plans in decades. The Setting Every Community Up for Retirement (or SECURE) Act was originally passed by the House of Representatives last spring. It failed to pass the Senate then, but the legislation was included in the year-end spending bill that was passed on December 20, 2019.

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IESBA proposes ethics guidance on objectivity of engagement quality reviewers

The International Ethics Standards Board for Accountants released an exposure draft Thursday proposing changes to the International Code of Ethics for Professional Accountants to provide additional guidance to audit engagement quality reviewers about their professional objectivity.

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3 Ways to Get Free Publicity and Media Mentions for Your Business

Regardless of your title, industry or territory, most of us could use more positive exposure. Getting media mentions builds credibility, increases your favorable exposure online and adds extra luster to your brand. Who wouldn’t want these benefits?

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How the New Tax Laws Affect Tax Exempt Organizations

The Internal Revenue Service says it wants tax-exempt organizations to know about recent tax law changes that might affect them. The Taxpayer Certainty and Disaster Tax Relief Act, passed on Dec. 20, 2019, includes several provisions that may apply to tax-exempt organizations’ current and previous tax years.

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How to maximize your credit score

Last week, the Fair Isaac Corp. announced a new credit scoring model rolling out this summer that could change over 110 million consumers’ credit scores. But the changes to FICO’s model won’t alter your score significantly if your credit habits already score well with the company.

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How to Find the Best CPA or Tax Accountant Near You

If you recoil at the thought of preparing your own tax return and wonder how you can find a good certified public accountant (CPA) or tax professional, you’re not alone. According to the IRS, about 58% of the more than 138 million tax returns e-filed through November 22, 2019 (for the 2018 tax year), were prepared by a pro.

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