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Accounting
Top stories summarized by our editors
7/15/2020

Here are the reasons the purchaser of a partnership might want to avoid shortcuts when estimating federal income tax consequences associated with a Sec. 743(b) adjustment in an acquired partnership interest.

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The Tax Adviser
7/14/2020

Despite the distraction of a presidential election and the challenges of the coronavirus, bills aimed at improving retirement security are being introduced in Congress and more are expected. "The COVID-19 emergency has only worsened the existing retirement crisis in our country," said Rep. Richard Neal, D-Mass.

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Rep. Richard Neal
7/14/2020

Robert Johnson was 16 when he survived a boat trip that lasted 52 days longer than planned, and two years later he took his first of three trips to Antarctica as part of Adm. Richard Byrd's 1939 expedition. Johnson, retired from the Navy and the Postal Service, recently hosted a 100th birthday party at his Florida home.

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Robert Johnson
7/14/2020

Congress has reversed kiddie tax changes enacted in the law known as the Tax Cuts and Jobs Act, permitting taxpayers to choose which rules apply in 2018 and 2019 and possibly file amended returns.

7/14/2020

With its highest-margin line of business taken away, Sons of Liberty Spirits used a Paycheck Protection Program loan and a quick production move to preserve jobs and morale.

7/14/2020

With the tax deadline coming Wednesday, along with Paycheck Protection Program questions and coronavirus issues, you're busy. Share this article with clients who have received PPP loans. They have time to apply for forgiveness.

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AICPA Insights
7/14/2020

The Small Business Administration has closed the Economic Injury Disaster Loan Advance program after exhausting $20 billion provided by Congress. The program provided $1,000 per employee up to $10,000 to small businesses and not-for-profits awaiting a decision on EIDL applications.

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SBA
7/14/2020

When pitching an idea to your boss, consider these three tactics to convince the person of the merits of your idea.

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Fast Company online
7/14/2020

As a CPA, your guidance is critical to help small-business clients succeed. These clients benefit from tracking customer- and revenue-retention trends, making retention analyses an ideal addition to your advisory services.

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AICPA Insights
7/14/2020

Some investors wonder whether the Federal Reserve's low interest rates and promise of unlimited asset buying are creating asset bubbles. The S&P 500's forward price-earnings ratio has reached a level not seen since the dot-com era, while initial public offerings and debt issuance set records in the second quarter.

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Reuters