Older generations are less likely than younger generations to be on track to replace at least 70% of earnings by retirement age, according to a survey by John Hancock. The survey shows people 50 or older are more likely to have portfolios that are too conservative, and others have portfolios that are too aggressive.
Pandemic-related accounting issues for health care entities are addressed in AICPA guidance that has been added to a list of previously posted FAQ.
The coronavirus pandemic and government responses to it raise many state tax questions. This article looks at state conformity to Coronavirus Aid, Relief and Economic Security Act relief, nexus and apportionment issues affecting businesses, as well as income tax issues for individuals.
A growing opportunity for CPAs exists in cannabis-related business advising, but there are risks involved as well. Learn more in this podcast.
Employees who work in different states than their regular workplaces during the pandemic might be subject to taxes in the new state. Lawmakers introduced legislation this year that seeks to address some of the tax complexities of remote work and the pandemic in particular.
With fewer people driving because of work-from-home and social distancing trends, some states have raised taxes on gas to close the gap for revenue needed to repair roads. Gasoline demand remains below the typical level, and the national average price of gasoline was 49 cents lower than the price a year ago as of Tuesday, according to AAA.
IIA President and CEO Richard Chambers explores skepticism of clients and discusses how internal auditors can build trust. He writes: "We are hardly helping if we are auditing the molehills while the mountain sits in the distance. But clients still can be skeptical of our intentions -- even if we are 'following the risks.' "
In some cases, people might save more for retirement than they actually need. That's not necessarily a bad thing, but it could be counterproductive if they must skip meaningful opportunities in their pre-retirement life or must maintain an elevated debt load.
Businesses are taking numerous precautions to keep people safe and have plans for addressing future office-space needs.
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