CalCPA

2,910 Flips | 161 Magazines | 5 Following | 62 Followers | @Cal_CPA | A thriving community of passionate CPAs leading, connecting, protecting and empowering their profession and clients for success in California. Maintained by @maragoni and @BillSpaniel.

Internal Revenue Service

<b>IRS YouTube Videos:</b><i><br>Phishing/Malware</i> - English<i><br>Why Tax Professionals Need a Security Plan</i> - English<i><br>How to Maintain, Monitor and Protect Your EFIN</i> - …

Identity Theft

Tax-dodge strategists probe loopholes in new U.S. law, IRS wary

WASHINGTON (Reuters) - Tax experts for global corporations are hot on the trail of loopholes in the sweeping tax law approved in December by President Donald Trump and Republicans in the U.S. Congress.<p>Barely five months since it took effect, the law is already yielding potential tax-dodge gimmicks, …

Finance

Not interested in retiring? You still need a financial plan to deal with eventualities

<i>Dear Pete: Retirement simply isn’t a goal of mine. I enjoy the work I do, I don’t have that much money saved for retirement anyway and, frankly, I think I’d prefer to just work until I die. Am I missing something? I feel like people get too bent out of shape about not having enough money for</i> …

Retirement

Why you’re getting flooded with so many terms-of-service updates

Almost everybody who uses an online service or app that handles their data has been getting a flood of emails advising of privacy-policy changes.<p>And it’s not the U.S. behind the tech industry’s recent flurry of updates. Instead, the European Union has been driving these changes with a sweeping set …

Privacy

Why Home Sellers’ Exclusions Aren’t One-Time Opportunities

Contrary to what many home sellers mistakenly believe, exclusions aren’t one-time opportunities and, moreover, they can avail themselves of the …

Taxes

12 Tips to Skyrocket Your Firm’s Productivity

Topic • Practice Excellence<br>Tags • Bookkeeping <br>• CPA <br>• Tips and tutorials

Time Management

Are Vacation Homes a Tax Shelter?

Topic • Individuals<br>Tags • CPA <br>• Deductions <br>• Tax preparation

Vacation Homes

GDPR can have an impact on U.S. accountants

The European Union’s General Data Protection Regulation takes effect Friday, and it could affect accountants and auditors, along with their clients, …

Privacy

Differences between the FASB and IASB lease accounting standards, and how companies can prepare for both

Accounting and finance organizations for many multinational businesses are currently working to create plans for two separate lease accounting …

Small Business

How To Hedge Your Bitcoin Bet

Whether you’re a speculator or a pure gambler, it makes sense to hedge your bet. Don’t put all of your chips on the table at once.<p>When it comes to Bitcoin, in most cases, you’re betting that the cryptocurrency will go up indefinitely. That’s the nature of a bubble when speculators dominate.<p>But what …

Cryptocurrency

The Onboarding Experience: How To Keep Your New Employee Engaged

The hiring and onboarding experience can determine whether your new employees will stick around for the long haul or cut and run. Nearly 61 percent of people have walked away from a job because it turned out to be different from expected, according to “Keeping Pace With the Evolution of Work: …

Employee Engagement

How To Avoid Medical Debt In Your Retirement

Throughout our working lives, our employers usually provide us with health insurance. Often these plans have low deductibles so our exposure to significant medical debt is somewhat limited by having robust insurance.<p>However, as we age, our health care spending climbs. In fact, it’s been reported …

Retirement

Executive compensation planning for tax-exempt organizations

<i>Editor: Kevin D. Anderson, CPA, J.D.</i><p>Effective for tax years beginning after 2017, the law known as the Tax Cuts and Jobs Act, P.L. 115-97, added new …

Retirement

IRS takes aim at California and other states trying to help residents avoid new tax-deduction limit

The Internal Revenue Service is preparing to block attempts by California and other states to help their residents avoid a new limit on the deductibility of state and local taxes included in the Republican tax overhaul.<p>The IRS and the Treasury Department said Wednesday they would issue proposed …

Finance

States Are Pushing to Keep Federal Regulation Out of Sports Gambling

In the wake of a United States Supreme Court ruling striking down a ban on sports betting, state gambling regulators are fighting suggestions by major sports leagues that gambling should be overseen at the federal level.<p>A statement on Tuesday issued on behalf of four state regulators by the …

Betting

The fate of the S&P hangs in the balance — and these 3 factors should decide it

The “slower summer season” is nearly upon us. For investors, that means if this market isn’t crashing, then it’s bullish.<p>So says Cracked Market …

Stock Markets

Opinion: Why early retirement is all it’s cracked up to be

Sometimes, the stuff that people say about early retirement (and early retirees) is terrible. It is assumed that early retirement is the end of …

Retirement

Opinion: The ‘kiddie tax’ is getting easier (and maybe cheaper) under the new tax law

A child who is considered a dependent on either or both of the parents’ tax return may still need to file a federal income-tax return depending on …

Retirement

What's the strangest Social Security benefit you can get? A $255 lump sum death benefit

It's unclear why this little-known benefit exists, but millions of people still get it.<p>The Social Security program pays out nearly $1 trillion in benefits every year, supporting older Americans and their families in retirement as well as providing a financial lifeline for those who become disabled …

Retirement

9 ways to plan for a comfortable retirement and financially secure old age

The number of Americans 65 and over increased 33% to 49.2 million from 2006 to 2016, and that population is projected to almost double by 2060.<p>Given that you might fall into that category now or in the future, there’s plenty you should do to prepare for old age, financial planners say.<p>Don’t leave …

Retirement

33 Changes Recommended to Form 990

Topic • IRS<br>Tags • CPA <br>• CPA advanced <br>• Tax preparation

Income Tax

IRS and Treasury plan crackdown on SALT deduction workarounds

The Internal Revenue Service and the Treasury Department said Wednesday they intend to issue proposed regulations to address the question of …

Finance

Navigating the minefield of international invoicing and VAT compliance

For multinationals and companies with international vendors and customers, maintaining compliance can be a slippery slope fraught with curveballs and …

European Union

Will New Data Restrictions Force Brands To Adopt Old Practices?

When people say “Everything old is new again,” they often gloss over the idea that embracing the old may reflect a step backward. As Europeans brace themselves for a post-GDPR world without third-party data, their new internet experience threatens to be an old one. But it doesn’t have to be.<p>What’s …

Customer Experience

Will Big Banks Make Or Break Bitcoin?

For years, big banks played an important role in global capitalism. They have been the gatekeepers of national currencies flowing between central banks and the general public. And they have been collecting hefty fees for this role – fees that pay the salaries and bonuses of their employees and the …

Cryptocurrency

Pay Raises for CFOs and Finance Staffers Outpace Last Few Years

Finance professionals received an average pay raise of 4.3% in 2017, according to a survey from the Association for Financial…

CFOs

How to Overcome Obstacles to Strategy Execution

Some companies tap the finance department mostly for raising capital, closing books, and implementing controls. And it’s true, of course,…

Management

Zoom out/zoom in

How can companies direct attention toward initiatives that have the most impact—and ensure that they’re properly funded? Using two parallel time …

Mobile Photography

California could cut your high sales tax if it taxed business services. Why that won’t happen—yet

Consider these two scenarios: A family spends Saturday afternoon at the local shopping center, buying a new washing machine, summer sandals, …

Income Tax

College grads: How to save for retirement when you can barely pay your rent

A miniscule 5% felt they had succeeded in setting aside the money they would need for retirement. No matter how unbelievable it may seem now, you can …

Personal Finance