CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

ETAX ALERTS

Guest Post: Electronic Receipt of Invoices: New Best Practice

Mary S. Schaeffer, MBA, has the inimitable ability to find accounts-payable-related solutions that really work—without making a major dent in the bottom line. For Western CPE, she produces self-study courses and webcasts. She has a BS in mathematics from York College (CUNY) and an MBA in finance from New York University   Article at a …

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Guest Post: Two New Audit Standards Issued

Jeff Sailor, CPA, received a master’s degree in accounting from the University of Florida. Jeff has managed his accounting firm in Ocala, Florida since 1984. During that time, he has also developed unique auditing approaches and auditing software. Since 1992, Jeff has been teaching accounting and auditing courses he developed to combat traditional “boring CPE.” …

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Guest Post: Major Changes to the CPA Exam

Rod Redding received his Ph.D. from Penn State University after working with Price Waterhouse and IBM. Currently, he presents seminars and webcasts and prepares self-study courses for Western CPE. A few things related to the CPA profession: threats to licensing, possible changes to the CPA licensing model, continuous CPA exam testing and how the CPA exam content might change New …

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Tax News Galore

 In the last week, the IRS has been busy with “news” for you and your clients:  June 30, 2020 Deadline. Only a few days are left. There is still money left for a Paycheck Protection Program Loan, but the PPP loan program shuts down on June 30, 2020. It’s a rush, but maybe the struggling …

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PPP Loans Forgiveness — Applications, Clarifications, and Examples

PPP Loans Forgiveness — Applications, Clarifications, and Examples Forgiveness Applications Revised and Simplified SBA released a new EZ version of the forgiveness application (Form 3508EZ). The EZ application requires fewer calculations and less documentation and will ease the paperwork for small business owners and the practitioners that help them. The EZ can be used by …

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Guest Post: A Quick Look at the Sections of the AICPA Auditing Standards Board Auditor’s Report

Dr. Rod Redding received his PhD from Penn State University after working with Price Waterhouse and IBM. Presently, he presents seminars and webcasts and prepares self-study courses for Western CPE.  To read more about Rod or see his coursework,  check here . In May 2019, the Auditing Standards Board (ASB) issued SAS 134, Auditor Reporting and Amendments, …

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Guest Post: Audit Risks and Audit Areas to Focus on Due to the Coronavirus

Dr. Rod Redding received his PhD from Penn State University after working with Price Waterhouse and IBM. Presently, he presents seminars and webcasts and prepares self-study courses for Western CPE. The Journal of Accountancy has published two articles that may help you prepare your audits for the effects of the coronavirus, on how the audit …

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Is Congress Entering Accounting & Auditing Territory?

Dr. Rod Redding received his PhD from Penn State University after working with Price Waterhouse and IBM. Presently, he presents seminars and webcasts and prepares self-study courses for Western CPE. During 2019 and 2020 Congress appears to have an increasing interest in accounting and auditing.  The Current Expected Credit Loss accounting standard and the PCAOB …

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Guest Post: Rod Redding, Some Places to Look for Assistance in Accounting for the Coronavirus

Dr. Rod Redding received his PhD from Penn State University after working with Price Waterhouse and IBM. Presently, he presents seminars and webcasts and prepares self-study courses for Western CPE. This alert provides accounting websites, and a list of articles, that have been written about various issues related to the impact of the coronavirus on …

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Guest Post: Divorces to Surge in Post-Pandemic Era

Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California, and went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally …

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Guest Post: FASB Extends Effective Dates for Revenue Recognition and Leases

Have you taken a class from Jeff Sailor? He’s one of our favorites and one of the funniest. For more than 10 years, Jeff has served as an AICPA peer reviewer, focusing on small firms and sole practitioners. Jeff has managed his own accounting firm in Ocala, Florida, since 1984. During that time, he has …

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IRS Say PPP Loan Forgiveness Makes Expenses Not Deductible

As we struggled through the Paycheck Protection Program (PPP) loan applications this last month, something didn’t make sense in the way that the loan forgiveness worked. The recurring question we came up with was “How are expenses treated if they are paid with tax-free money?” We asked and the IRS answered. In Notice 2020-32, the …

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Employer Payroll Tax Delay Can Help Cash-Strapped Businesses

The employer’s share of Social Security Tax (but not Medicare tax) can be delayed, and paid over two years. Many business clients may not know that the deferral applies to: Self-employed individuals Recipients of PPP loans, but only until the date of PPP loan forgiveness The President is about to sign legislation to provide more …

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