The SpaceX Crew Dragon spacecraft for Demo-2 inside the company’s hangar at NASA’s Kennedy Space Center. SpaceX SpaceX is set for its most important milestone yet, in a launch that may well define the future of the U.S. space program. Elon Musk’s company plans to launch a pair of NASA astronauts on Wednesday — the
Month: May 2020
If you’d like to make your kitchen or your beach house into your permanent office, think about what it might mean for your taxes. Social distancing orders in light of the coronavirus pandemic has forced companies to send workers home and have them work remotely. The trend might continue. Indeed, 3 out of 4 chief
New online portal tool P3 was launched to help CPA firms and clients navigate and document the Paycheck Protection Program loan process. Founded by Atlanta-based AGL CPA partners Jay Robbins and Bradley Sienkiewicz, P3 is a centralized location for CPA firm clients to upload supporting documentation for PPP loan forgiveness and view the percentage of
As some states lift restrictions on business operations, small companies in various industries are preparing to reopen their doors. However, it’s not business as usual. Coronavirus Reopening Checklist In order to provide a safe and productive work environment, employers may need to take several additional steps before they get up and running again. Vicki Salemi,
In the time before the coronavirus outbreak — which seems so long ago — companies were addressing state tax considerations of their mobile workforces. Few envisioned suddenly having the bulk of their employees working from home in states away from their assigned offices. In light of this, companies should not neglect addressing the state income,
Mohamed El-Erian told CNBC on Tuesday that there was “good news across the board” on the coronavirus battle as U.S. stock surged. Appearing on “Squawk Box,” the chief economic advisor at Allianz said he is encouraged by developments on a potential Covid-19 vaccine and the lack of a dramatic spike in new cases as states moved to reopen
University of Michigan tiny-al | Getty Images Although the upcoming academic year remains in limbo, the University of Michigan said it is taking steps to bring students back on campus in the fall. “The average student is very anxious to get out of mom and dad’s basement and come back to school,” President Mark Schlissel
On May 26, 2020, thought leaders Gary Boomer, Allan Koltin and Gary Shamis shared their insights on the new challenges facing accounting firms and their leaders, and the steps they should be taking to survive the pandemic and thrive in its aftermath. Watch their conversation above, and then join us for a four-part live series
The diversity of transactions that occur in the crypto ecosystem touch almost all parts of the U.S Internal Revenue Code. However, the Tax Code contains no reference to “virtual currency” or “crypto currency.” Instead, you will find myriad technical rules that can be hard to understand, or lead to the wrong answer when viewed in
CNBC’s Jim Cramer said Friday he’s concerned the stock market’s rally from its March lows may run out of steam unless Congress approves additional coronavirus relief measures. “Without another package, I know it’s trillions of dollars, we’re just going to kind of sputter out,” Cramer said on “Squawk Box.” ”I get worried. It’s just too many people that
NoDerog | iStock | Getty Images Millions of Americans have received their economic stimulus payments of up to $1,200 a person. But some are taking a look at those sums and wondering what happened. Some are finding that those checks are made out for less than they were expecting. Others may find that they receive
Peter Menzies got two coronavirus relief loans last month: one for a bookstore and the other for a restaurant. Now he’s returning the latter, the biggest by far at $125,000. It’s not that he doesn’t need federal aid for his Reading Room restaurant in the hamlet of Katonah, New York, about 40 miles north of
Form W-4, which instructs your employer on how much tax to withhold from your paycheck, received a makeover at the start of 2020. It’s the first major redesign of the form in 33 years, dating all the way back to 1987. The adjustments simplified the form and implemented the tax code changes that went into
The Tax Cuts and Jobs Act imposed a 30 percent of adjusted taxable income limit on business interest deductions as part of a package that expanded bonus depreciation. In order to help assist businesses during the coronavirus pandemic, the CARES Act increased the limits on business interest deductions. The IRS in Rev. Proc. 2020-22 has
Signage is displayed outside Morgan Stanley & Co. headquarters in the Times Square neighborhood of New York. Michael Nagle | Bloomberg | Getty Images Morgan Stanley is planning to kick off the return of trading personnel to its New York headquarters in mid to late June, according to people with knowledge of the situation. The
Wine store employees catalog a new shipment of alcohol on May 28, 2020 in New York City. Government guidelines encourage wearing a mask in public with strong social distancing in effect as all 50 states in the USA have begun a gradual process to slowly reopen after weeks of stay-at-home measures to slow the spread
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Education Secretary Betsy DeVos was accused in a lawsuit of illegally seizing millions of dollars in tax refunds from students who defaulted on federal loans despite a congressional ban on such collections during the pandemic. The groups Student Defense and Democracy Forward filed the proposed class-action suit, which also named Treasury Secretary Steven Mnuchin, Friday
The stock market has been erratic, real estate is hurting, bond yields are painfully low and dividends are shrinking. In the coronavirus recession, most financial assets have been disturbingly volatile. But one widely held financial asset, perhaps the most important one for the vast majority of Americans, has performed splendidly: their stake in Social Security.
The Internal Revenue Service collected nearly $3.4 trillion through more than 160 million individual and business tax returns during fiscal year 2018. For all this revenue, approximately 991,000 returns were examined, representing less than 1 percent of all tax returns filed. The number of examinations conducted to uphold enforcement has been declining year over year
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