CalCPA Daily Clips
Tags: California, Tax, Irs, Accounting, Business

Dec. 14, 2020

BUSINESS

Silicon Valley’s million dollar question: Does remote work kill innovation?

The shift to out-of-the-office employment will permanently change the way work gets done in a region where the creation of world-changing ideas has long relied on face-to-face collaboration. But one giant uncertainty looms.

San Jose Mercury

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Microsoft Announced a ‘Productivity’ Feature That Lets Managers Keep Track of Everything You Do. It Didn’t Go Over Well

One of the most challenging things about the shift over the last eight months to working remotely is how we all measure productivity. In the past, managers could often see exactly what an employee was working on since they often worked in close proximity to each other. That’s not the case when we’re all working remotely.

Inc.

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Health Care Questions CFOs Should Ask and Expect An Answer To

Digging into the hidden mechanisms of your organization’s health care coverage can present opportunities for savings.

CFO

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Leadership lessons from the pandemic

One business founder shares lessons learned during the coronavirus pandemic, including the problem with having an always-on mindset and the value of maintaining open communication.

Fast Company

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How to tell whether a joint venture is worthwhile

Companies are turning to joint ventures to fuel growth while limiting risk, but they must be sure to understand trade-offs involved in a deal. Here is a guide to track whether a particular partnership makes sense.

CFO

PERSONAL FINANCE

Retirees: The IRS doesn’t care about required minimum distributions in 2020, but it will in 2021

For people over 72 with tax-deferred individual retirement accounts (IRAs), required minimum distributions (RMDs) are a part of annual income planning and tax budgeting.

USAToday

PROFESSION

2020-Specific Plans for CPAs Still Exist

Now is the time for CPAs to connect with clients for financial planning before this year’s opportunities are gone.

AccountingWeb

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How to Become an Outsourced/Virtual CFO

And how CAS drives up the demand.

CPATrendlines

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M&A can attract high-quality partner candidates

Small and midsized firms have traditionally faced stiff competition and a complex business environment.

AccountingToday

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Building a Trusted Advisor Toolbox

Technology is commoditizing traditional accounting firm services, decreasing billable hours and motivating firms to build their advisory and consulting service offerings.

CPA Practice Advisor

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Is it Time for Clients to Convert to a Roth?

With incomes being lower across the board for most clients, juxtaposed with the relatively low tax brackets of the TCJA, it may be time to convert from a Traditional IRA to a Roth. In converting, there will be a tax due, however this can all be eaten up with either a net operating loss or a relatively small tax bill.

AccountingWeb

REGULATORY

IASB mulls changes in group accounting

The International Accounting Standards Board is looking into the standards for consolidated financial statements, or group accounting.

AccountingToday

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IFAC endorses international sustainability standard-setting board

The International Federation of Accountants reiterated its call this week for an international sustainability standards board under the purview of the International Financial

AccountingToday

TAX

2020 year-end tax tips: What we do know and what we should know

For accounting and tax firms, as well as the client businesses they advise, it’s been a year like no other.

AccountingToday

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Student-loan debt: Tax and other considerations

The coronavirus pandemic has renewed focus on the crisis of student-loan debt. Here’s a look at the student-loan burden in the US, programs designed to assist borrowers with repayment and debt-forgiveness issues.

The Tax Adviser

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Not-for-profit tax developments

Several major tax changes have occurred in the past few years, and many of them affect not-for-profit organizations, sometimes in surprising ways.

AICPA