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The Status of the ‘Marriage Penalty’
(CPA Journal) - This article demonstrates that, while the TCJA has offered some relief to married couples filing jointly by either eliminating or minimizing the marriage penalty in a few areas, the penalty persists in other areas. It describes how the penalty worked prior to the TCJA...
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When Clients Flout the Related Party Rules
(Accounting Web) - In this post, we will go over the basics of Teruya Brothers Ltd. v. Commissioner (2009) and then discuss why CPAs need to pay close attention. Teruya involves the “related party” rules of Section 1031, which are among the most perplexing and least understood.
CPAs Need to Watch These Health Care Pricing Rules
(JofA) - New rules could arm clients and CPAs with info for better decision-making.
6 Tips for Using Your iPhone at Night or in the Dark
(How-to-Geek) - Your iPhone can adapt to reduce eye strain and promote healthier sleep, but that’s not all it can do after the sun goes down. We’ll explain Dark and Night modes, Night Shift, and all the other features you need to know.
After Confusion, IRS Clarifies Tax Treatment Of Fortnite & Gaming Currencies
(Forbes) - Gamers (and their parents) can finally breathe a sigh of relief: Fortnite virtual currency is not taxable. If you’ve seen headlines suggesting that it is taxable - and then contrary headlines saying that it is not - here’s what happened. In October of 2019, the following language was spotted on the Internal Revenue Service (IRS) website...
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The CPA Players Present: The Empire Strikes Back