Article by Timothy Gardner | Featured on Reuters The United States appears on the brink of ending a four-decade ban on most exports of crude oil, which would end a years-long fight brought about by a boom in domestic shale output that contributed to a supply glut and depressed prices. The measure is part of […]
Article by By Annette Nellen, Esq., CPA, CGMA | Featured on The Tax Adviser Every year a few taxpayers go to court hoping for a better outcome than the one offered by the IRS. Usually, they lose due to poor records, not meeting all requirements for particular deductions, or inadequately separating business from personal expenditures. […]
Article by Ken Tysiac | Featured on Journal of Accountancy FASB is proposing new accounting standards designed to improve the effectiveness of disclosure requirements on fair value measurements by enabling preparers to omit immaterial information. The board is seeking comments by Feb. 29 on Proposed Accounting Standards Update, Fair Value Measurement (Topic 820): Disclosure Framework—Changes […]
Article by Vicki Needham | Featured on The Hill | Mark Van Scyoc / Shutterstock.com The Export-Import Bank is alive. Renewal of the 81-year-old institution’s charter was included in a five-year, $305 billion federal transportation measure that passed the Senate late Thursday on an 83-16 vote, only one day ahead of the expiration of the latest […]
Article Featured on irs.gov WASHINGTON —The Internal Revenue Service today simplified the paperwork and recordkeeping requirements for small businesses by raising from $500 to $2,500 the safe harbor threshold for deducting certain capital items. The change affects businesses that do not maintain an applicable financial statement (audited financial statement). It applies to amounts spent to […]
Article by Joseph E. Stiglitz & Martin Guzman | Featured on Project Syndicate Every advanced country has a bankruptcy law, but there is no equivalent framework for sovereign borrowers. That legal vacuum matters, because, as we now see in Greece and Puerto Rico, it can suck the life out of economies. In September, the United […]
Article Featured on Business Insider | By Richard Feloni The terms “disruptive innovation” and “disruptive technology” are at risk of becoming meaningless buzzwords, according to Harvard Business School professor Clayton Christensen, who introduced his theory of disruption 20 years ago. As the number of “unicorn” companies, those valued at $1 billion or more, have captured […]
Article Featured on LA Times Fewer Americans bought homes in October, a sign that rising home values may be pushing more would-be buyers to the real estate market’s sidelines. The National Assn. of Realtors said Monday that sales of existing homes fell 3.4% last month to a seasonally adjusted annual rate of 5.36 million. The […]
BY KEVIN DRAWBAUGH AND EMILY STEPHENSON | Featured on Reuters U.S. politicians condemned Pfizer Inc’s deal with Allergan Plc as a tax dodge on Monday, bringing another round of hand-wringing in Washington over the corporate tax code, though legislative action before 2017 is unlikely. Democrats heaped the most criticism on the New York-based drug maker, with […]
Article by Marilyn Geewax | Featured on NPR The Federal Reserve estimates that nearly a third of workers have no pensions and no retirement savings. Going from young and broke to retired and comfortable is a long, tough road. So the Obama administration on Wednesday rolled out a simple, no-risk retirement account to help people […]