Auditors sought a single principle for accounting of software costs. But after months of consideration, the Financial Accounting Standards Board (FASB) is shelving the project. FASB announced current guidance will remain in place. Board members "decided not to further pursue…
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A last-ditch effort to restore tax write-offs for research costs -- including software engineers' salaries -- appears dead on arrival in the Senate. Politics is preventing a deal from getting done, despite several GOP Senators wanting to provide more tax…
IRS recently made changes to Form 941. For one thing, a Spanish version of the federal tax form is now available starting with the first quarter of 2024. On February 28, 2024, IRS released final versions of the 941, Schedule…
Paying six-figure salaries to relatives of the owners or top executives of a company is never a good look. For a publicly traded company, failing to report this kind of questionable compensation will attract the attention of the feds. Popular…
CFOs and controllers are on the lookout for every angle to keep spending in check. The last thing most companies want to do is lay off people to get costs under controls. A new report shines a light on an…
Fewer college students are willing to put in the time and money to become accountants. Finance professionals are concerned about the dwindling talent in the pipeline as Baby Boomers retire. Now some states are getting serious about the problem and…
Whether payroll professionals use the most current Excel in Microsoft 365 or an earlier version, they'll never find enough time to use all of the functions and shortcuts available to them. Even expert users of Excel will stumble upon a…
President Biden is calling for wealthy Americans and corporations to pay more in taxes. The president outlined a number of changes he believes will help reduce the budget deficit and level the playing field between the very rich and everyone…
A recent ransomware attack illustrates why an attacked company that pays ransom shouldn't expect the hackers to live up to their end of the bargain. Once upon a time, cyber thieves did exhibit a modicum of honor. They'd unlock a…
Before we get too far into the new year, double-check that all changes to state income tax rates and laws have been caught. Better for Payroll to uncover glitches as early as possible to avoid withholding and reporting headaches, especially…
The Internal Revenue Service has extended corporate, business and individual tax deadlines out to June 17 for San Diego, Detroit and dozens of counties throughout the U.S. Here's a rundown of areas that were declared disaster areas by the Federal…
Finance teams need to be checking expense reports and payment card bills in 2024 to prevent fraud. Employees who normally wouldn't try passing off bills as business expenses may be feeling more pressure to give it a shot. Current economic…
