DAILY BRIEFING

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June 30, 2021

Prepared for Voornaam

Supreme Court ACA decision moots protective refund claims

By Roger Russell       3 min read

Taxpayers won't be able to recover previously paid Medicare taxes and NIIT. View story →

Moss Adams adds risk management firm

By Daniel Hood       3 min read

The Top 25 Firm’s merger with the Cadence Group gives it a presence in Salt Lake City. View story →

RELATED

Wipfli makes good on expansion plans →

Wipfli’s latest merger is bringing the Midwest-based firm to California, but since the pandemic, it has been able to recruit talent around the world.

Accountants need to explain themselves

By Daniel Hood       3 min read

There are a lot of things people don’t know about the profession, and that needs to change. View story →

21% and rising: What tax pros should consider with higher rates

By C. Wells Hall III, Drew Hermiller       4 min read

The near doubling of the capital gains tax rate would have a large impact on the net profit from any sale of any capital asset. View story →

How executive clients can outrun tax increases with deferred compensation

By Lynnley Browning       5 min read

It’s counterintuitive, but the cash benefit of delaying payouts can outweigh rate increases, thanks to compounding over time. View story →

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Canopy scores $11M in funding for tax practice management software

By Michael Cohn       5 min read

The extra funding will mainly be spent on product development.  View story →

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Inaugural ‘40 Under 40 Black CPA Award’ seeks applicants

By Sean McCabe       2 min read

The Black CPA Centennial program is seeking candidates "who are positively influencing change in the CPA profession and their communities" to apply by Aug. 15, 2021. View story →

IRS extends safe harbor for renewable energy projects delayed by pandemic

By Michael Cohn       2 min read

The guidance gives renewable energy companies more time to develop projects that were delayed by COVID-19. View story →

Deadline for MP Elite 2021 submissions extended

Due to extensive interest, Accounting Today is extending the deadline for submissions for its annual Managing Partner Elite list of top firm leaders to the end of the day Thursday, July 1.  View story →

Finding the gaps in a client’s financial plan

By John P. Napolitano       8 min read

Why your clients probably need a financial planning audit. View story →

Small-business employment grew in June

By Michael Cohn       3 min read

Small businesses continued to ramp up their hiring this month, particularly in the leisure and hospitality sector, as the economy recovers from the pandemic, according to payroll giant Paychex. Read story →

Businesses see revenue grow in Q2 as recovery picks up speed

By Michael Cohn       3 min read

Small and midsized businesses have experienced a remarkable turnaround this year as the economic recovery accelerated despite the pandemic, with both revenue and headcount on the rise at many companies. Read story →

In the blogs: Hot topics

By Jeff Stimpson       4 min read

Better enforcement; for fans of tax crime; partner sabbaticals please; and other highlights from our favorite tax bloggers. Read story →

Lawmakers propose tax break for forests lost to natural disasters

By Michael Cohn       2 min read

The House introduced bipartisan legislation Tuesday to provide tax deductions for timber growers to recover from the loss of forests. Read story →

SEC sets up climate clash with big tech cos.

By Ben Bain       3 min read

The commission wants corporations to reveal more about climate risks, a push Wall Street and the biggest tech companies say will lead to a barrage of lawsuits. Read story →

RESOURCES

WEB SEMINAR

Tax legislation update and tips for generating client engagements and revenues in 2022

Tuesday, July 13, 2021 2:00 PM EDT

Get a head start on next tax season by learning what types of planning might be in store for you and your clients heading into 2022, including a review of all COVID-19 relief provisions, the SECURE Act and the CARES Act. Learn More →

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GASB 87: Get ahead of the deadlines with the right approach

An easy guide for Financial Controllers to achieve and maintain compliance with GASB 87. Learn More →

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ASC 842: Get ahead of the deadlines with the right approach

An overview for achieving and maintaining compliance with the ASC 842 lease accounting standard. Learn More →

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