DAILY BRIEFING

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August 27, 2021

Prepared for Voornaam

The $1 million question of higher capital gains taxes under Biden, answered

By Lynnley Browning       4 min read

A Treasury Department spokesperson gave an answer that provides clarity for advisors with affluent clients. View story →

IRS overlooked billions in taxes from S corp execs

By Michael Cohn       3 min read

The Internal Revenue Service has stepped up efforts to collect employment taxes from S corporation officers, but business owners are still getting away with avoiding billions of dollars in taxes. View story →

RELATED

Tax Strategy: More states enacting SALT limit workarounds →

The IRS has blessed at least one approach to getting around the TCJA limitation — the entity-level tax.

Tax Strategy: More states enacting SALT limit workarounds

By Mark A. Luscombe       3 min read

The IRS has blessed at least one approach to getting around the TCJA limitation — the entity-level tax. View story →

AICPA announces CPA Evolution Resource Competition

By Sean McCabe       2 min read

Based on the newly-approved accounting curriculum developed by the AICPA and NASBA, the contest will provide up to $1,500 to educators for their original teaching ideas. View story →

AICPA calls for expanding QBI deduction to accountants

By Michael Cohn       3 min read

The institute is asking Congress to expand the deduction to include accounting firms and other businesses excluded under the Tax Cuts and Jobs Act. View story →

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Generational Viewpoints: Developing people developers

Accountants of different generations from Casey Peterson share what they think are the important attributes of great people developers. View story →

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Boomer’s Blueprint: Simplify, then multiply

By L. Gary Boomer       4 min read

Successfully managing digital transformation is as much about mindset as it is about technology. View story →

Robust financial reporting provides the key to business performance

By Anders Fohlin       4 min read

Financial analysis, reporting and controls help lay the foundation for business success. View story →

Crypto doesn’t have to enable tax cheats

By Alexis Goldstein       4 min read

The lack of tax information from major platforms isn’t a technological limitation. It’s a design decision. View story →

Tax Fraud Blotter: Bad dispositions

By Jeff Stimpson       6 min read

Uniform code of justice; in the rough; color them busted; and other highlights of recent tax cases. View story →

Accounting profession having trouble with recruitment

By Michael Cohn       7 min read

Accounting firms are running into difficulties filling the pipeline with new accountants as they find themselves struggling to recruit talent. Read story →

Accounting firms accelerate ESG services as climate risks increase

By Michael Cohn       12 min read

Climate change is prompting more accountants to get involved in environmental, social and governance services. Read story →

How to make a hybrid workplace work

By Amy Vetter      

The debate between in-office and remote work was largely a theoretical one before the pandemic, but now we’ve had ample time to test the viability of virtual work on a grand scale. Read story →

Canopy integrates with QuickBooks Online

By Michael Cohn       2 min read

Practice management software provider Canopy has integrated with Intuit’s QuickBooks Online, allowing accountants to sync their contacts, service items and invoices, and process payments and deposits between the two systems. Read story →

How advisory services are transforming accounting

By Elizabeth Beastrom       4 min read

Most firms pivoted to giving valuable advice during the pandemic, but only some of them got paid for it. Read story →

RESOURCES

WEB SEMINAR

A diagnostic deep dive

Tuesday, September 7, 2021 2:00 PM EDT

As the saying goes, an ounce of prevention is worth a pound of cure. That prevention comes in the form of powerful diagnostics, for auditors who use a Knowledge Coach solution.  Learn More →

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REPORT

Tax planning for 2022

It’s never too early to start thinking about the end of the year, and the moves clients should make to be in the best position for the 2022 filing.  Learn More →

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WEB SEMINAR

ASC 842 lease accounting: 10 best practices for day two and beyond

Wednesday, September 22, 2021 2:00 PM EDT

Adoption of ASC 842 lease accounting guidance is challenging, and most companies that have worked on compliance just want to get to a finish line.  Learn More →

SPONSOR CONTENT FROM CoStar

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