Individual taxpayers have probably noticed that they have been required to answer questions on Form 1040 about virtual currency transactions in recent years. The U.S.…
My daughter is learning about volume and liquid capacity in her math class. She frequently asks me questions like, “How many quarts are in a…
ICYMI | Keynote–Fireside Chat
A Conversation with PCAOB Chair Erica Y. Williams
About the Speaker The conference concluded with a “fireside chat” with newly installed PCAOB chair Erica Y. Williams. Williams was sworn in as the chair of the…
In Brief With new technologies come new forms of assets and, eventually, new rules for the regulation and taxation of such assets. Beyond the current…
Forté Capital’s Selected Statistics
Economic & Market Data
Forté Capital's Selected Statistics U.S. New Home Sales The recent rise in mortgage rates has cooled the sales of new homes. The rush to close…
I read with interest “Article on the New Working World of the COVID-19 Pandemic” (Hila Fogel-Yaari and Kelly Gebhart, March/April 2022) of The CPA Journal.…
Here is a familiar story: An entrepreneur works for decades to build a successful business and has reached the point of successfully exiting from the…
Supplier Finance Programs
Audit Concerns and Adjustments
In Brief Both FASB and the IASB recently issued exposure drafts related to supplier finance programs (SFP). The exposure drafts were issued in response to…
ESG: The Latest in Sustainability Reporting
Panel Discussion from the Baruch College Financial Reporting Conference
About the Panelists The final panel session of the morning was focused on environmental, social, and governance (ESG) issues and sustainability reporting. The panel was…
My daughter is learning about volume and liquid capacity in her math class. She frequently asks me questions like, “How many quarts are in a…
Rental Activity and Self-Employment Tax
Recent Cases with Online Rental Marketplaces
Tax planning for real estate activities often involves a myriad of tax considerations. For example, if the real estate produces a loss, a determination must…
Individual taxpayers have probably noticed that they have been required to answer questions on Form 1040 about virtual currency transactions in recent years. The U.S.…
Hot Topics at FASB
Panel Discussion from the Baruch College Financial Reporting Conference
About the Panelists The second day of the conference continued with a panel on major FASB standards, proposals, projects, and Emerging Issues Task Force (EITF)…
Working with CPAs in the Wealth Management Business
A Reflection
When Brian Mackey, Jesse Mackey, and I decided 10 years ago to start 4Thought Financial Group (4TFG), it was a process to feel comfortable with…
Tax-Advantaged Strategies for Inflation-Protected Investing
Utilizing U.S. I Savings Bonds
As inflationary pressures continue to mount (e.g., 8.3% for the 12-month period ending April 2022), individuals may look to their financial advisors for practical and,…
Gift Tax Returns on Extension
What to Consider Before Filing
Gift tax returns that have been extended can provide a breather for tax preparers. That time should be used to plan the return, obtain relevant…
Digital Assets
Panel Discussion from the Baruch College Financial Reporting Conference
About the Panelists The second day of the conference kicked off with a panel on digital assets. Beth Paul, Deputy Chief Accountant, PricewaterhouseCoopers Accounting Services Group, moderated…
Qualified Business Income Deduction and the Self-Employed
Utilizing the Deduction Before It Sunsets
The Tax Cuts and Job Act of 2017 (TCJA) included a new 20% deduction, known as the Qualified Business Income (QBI) deduction under IRC Section…
On March 31, 2021, former New York Governor Andrew Cuomo signed the Marijuana Regulation and Taxation Act (MRTA), creating a new Tax Law Article 20-C…
The Taxability of Third-Party Food Delivery Services
Understanding Complex Local Rules to Determine the Responsible Party
Two years into an unprecedented global pandemic, the impact of coronavirus (COVID-19) is still felt in many industries. The hospitality industry continues to be one…
Current Developments at the SEC
Panel Discussion from the Baruch College Financial Reporting Conference
About the Panelists The final session of the first day of the conference was focused on current developments at the SEC. Lindsay McCord, chief accountant, SEC Division…
Calvin Harris, , CPA I want to take a moment to introduce myself to you. I am Calvin Henry Harris Jr., CPA, your new NYSSCPA…
Opening Remarks from the SEC and FASB
Richard Jones and Paul Munter
About the Speakers Richard Jones is the Chair of the Financial Accounting Standards Board (FASB). He began his term as the eighth chair of FASB in…
Keynote–Fireside Chat
A Conversation with PCAOB Chair Erica Y. Williams
About the Speaker The conference concluded with a “fireside chat” with newly installed PCAOB chair Erica Y. Williams. Williams was sworn in as the chair of the…
Introduction—Financial Reporting Today
Highlights from the 20th Annual Baruch College Financial Reporting Conference
The 20th Annual Financial Reporting Conference was hosted virtually by Baruch College on May 4 and 5, 2022. The longstanding conference brought together—via videoconference—representatives from…