Firms established by pioneering Black CPAs decades ago created an indelible legacy within the accounting profession. Built by Black CPAs who succeeded despite adversity, the firms continue to play an important role in the profession’s recruitment and advancement initiatives, and with the clients they serve. Here are a few examples.
ANNOUNCEMENT FROM THE IRS (Feb.16): IRS provides further details on additional relief for certain partnerships preparing schedules K-2 and K-3 for 2021 Attend webinar on February 22 or February 24, 2022 (1-3 p.m. Eastern) Surgent's Preparing Schedules K-2 and K-3: Critical Tax Season Update for Reporting Foreign-Related Tax Information for Partnerships & S-Corporation (Includes IRS update from Feb. 16) The AICPA’s Tax Practice & Ethics Team has developed IRS Schedules K-2 and K-3 resources.
Eric Scott, Chair of the KyCPA Board of Directors, Taxation Committee Member, and Managing Director of Tax Services at Ernst & Young in Louisville, encourages your participation in our member survey to better understand the Society’s position on broadening the sales tax to professional services.
On Monday, November 15, President Biden signed the Infrastructure Investment and Jobs Act, the bipartisan infrastructure bill, into law. This legislation contains $550 billion in new spending including funding for roads and bridges, railroads, improvements to the power grid, broadband expansion, water infrastructure, public transit, and airports. There were few significant tax implications included in the bill except for a provision that terminates the Employee Retention Credit (ERC) after September 30, 2021.
By Mark A. Loyd, JD, CPA Kentucky’s manufacturing supplies sales tax exemption was recently addressed by the Kentucky Court of Appeals in Century Aluminum of Kentucky, GP v. Department of Revenue, 2020-CA-0301-MR (Ky. App. July 9, 2021), which held in favor of the Department of Revenue in an opinion designated not to be published. The taxpayer has filed a motion for discretionary review with the Kentucky Supreme Court. Should Kentucky’s highest court review Century Aluminum?
Deciding on the best audit approach isn’t a cookie-cutter process. While a long-standing relationship with a client or in-depth industry knowledge can give auditors a leg up, defining an effective audit approach requires careful consideration and planning for every engagement.
The one constant of technology is that it’s always changing. Keeping up with emerging technologies and tech lingo can be an overwhelming task. That’s why we pulled together this glossary to help you better understand 12 of the most common and popular tech terms you’ll hear about in the business and CPA world.
Using empathy, clear communication, and careful planning is key to retaining star employees when reopening the office.
COVID-19 is forcing women out of the workforce in record numbers. What do we lose when women leave the workplace, and how can we make it possible for them to stay?
One of the most frequently asked questions I get is how to advance within a public accounting firm, a company and/or the profession. In this column, I will explore how to leverage personal branding, emotional intelligence (EQ) and other leadership skills and strategies to advance by sharing advice from personal experience, feedback, research and interviews with several leaders within our CPA profession.