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Attempt to Ban SALT Weakened by Strong Data

It was always a long shot, but a quixotic lawsuit by four northeastern states to squelch the Trump tax law's cap on state and local tax deductions is being undermined by a repetitive drip of strong economic data. New York, Connecticut, Maryland and New Jersey will get their first hearing in June on

How to Revive Your Marketing Efforts After Tax Season

If you’re like most small firms your marketing activities were placed on the back burner while you studied the Tax Cuts and Jobs Act and translated the new law for your clients this tax season. Take a breath — or a well-deserved vacation — and then dust off your marketing plan to update your goals

A Company That Gets Managers to Think Like Owners

Varian Medical Systems is the market share leader and an innovator in radiology cancer treatment, but its innovation doesn’t stop at research and development (R&D). Over the last 20 months, the finance and investor relations team, in part, has led the company in transforming business management

NASBA, AICPA Propose Revisions to CPE Standards

The National Association of State Boards of Accountancy (NASBA) and the American Institute of CPAs (AICPA) proposed for public comment revisions to the Statement on Standards for Continuing Professional Education Programs, including adding adaptive learning for self-study programs. The standards

How to Speak Up in a Meeting, and When to Hold Back

I recently spent a month interviewing the group heads of a large financial services company in order to understand how their direct reports need to communicate as they move into leadership positions. Again and again, I heard the same comment: “If you are in the room for a meeting, we expect you to

IRS Corrects Error in Schedule D Tax Calculation Worksheet

Last week, the U.S. Internal Revenue Service (IRS) notified tax software companies that it had discovered an error in the instructions for the Tax Worksheet for the 2018 Schedule D, Capital Gains and Losses . The IRS explained that the tax calculation did not reflect the new regular tax rates and

The Volatile Future of Social Media

Have you ever thought social media is a bit too, well, social? Craving a more personal experience? That’s what Shawn Boyer is betting on, and he offered an explanation why in the opening session at the VSCPA’s 2019 Business & Industry Conference this week at the Williamsburg Lodge. Boyer is the

Going All In on Change

As we reflect back on the end of another busy season of the accounting industry, we are left as always to reflect back on one simple question. Why is busy season always so hard? No matter what happens... software issues, tax law changes, late information, uncooperative clients, unreasonable

Investors Worldwide Support ESG Investing, But Still Want Performance

Worldwide investor demand for environmental, social and governance (ESG) investing is strong, according to a survey conducted by Natixis Investment Management, with 76 percent of individual investors globally and 71 percent of U.S. investors saying it is important to have the ability to invest

FASB Offers Fair Value Option to Ease CECL Transition

The Financial Accounting Standards Board (FASB) is giving banks and other financial institutions some leeway in applying the new credit losses standard by offering them an option to measure some kinds of assets at fair value. FASB released an accounting standards update aimed at simplifying the