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  • Sales Tax on Professional Services

    January 24, 2022

    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.

  • Employee Retention Credit ends early

    November 16, 2021

    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.

  • Kentucky's Manufacturing Supplies Sales Tax Exemption: Century Aluminum

    October 25, 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 July 9, 2021), which held in favor of the Department of Revenue in an opinion designated not to be published.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?

  • Tech-driven audit approach: What you need to know

    August 25, 2021

    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.

  • 12 technology terms every CPA should know

    August 17, 2021

    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.

  • What we lose when women leave the workforce

    July 21, 2021

    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?

  • How to prevent turnover when introducing your new normal

    July 21, 2021

    Using empathy, clear communication, and careful planning is key to retaining star employees when reopening the office.

  • DELOITTE COMMITS $75 MILLION TO FUEL GREATER RACIAL AND ETHNIC DIVERSITY IN TAX AND ACCOUNTING

    July 19, 2021

    Deloitte announced June 2, 2021 the establishment of Making Accounting Diverse and Equitable (MADE), a commitment to generate more advisory, auditing, and tax career opportunities and leadership pathways for the next generation of certified public accountants (CPAs). MADE represents a bold vision for the accounting profession, both in terms of increasing racial and ethnic diversity, and helping students of color see and realize their future in business through the prism and possibilities of accounting.

  • New tax credit incentive supports education choice

    July 19, 2021

    Because of the pandemic, the 2020-21 school year was very difficult for thousands of Kentucky elementary and high school students, but the heaviest burden fell on low-income students and families of color; those who have limited resources for educational choices. In future years,  Kentucky’s K-12 students will have choices for educational services thanks to the Education Opportunity Account (“EOA”) Act passed by the Kentucky 2021 General Assembly. 

  • Blast from the past: Inflation

    July 19, 2021

    Remember “grunge”? Did you once sport a look featuring Doc Martens, dark flannel shirts and torn jeans while listening to Pearl Jam and Nirvana? If so, you are right in style for the return of 1990s economics. It really has been almost twenty years since we have had to deal with anything approaching real inflation and now it has once again reared its very ugly head. There are many people in business that have never really encountered an inflation spike but they are learning all about it now. There are three pillars as far as inflation is concerned.