Blog

2 weeks ago

KJ Law & CPA

Concerns don't dampen US economic enthusiasm
Tariffs, rising interest rates and difficulty finding workers are not enough to slow projected economic growth, according to a survey of finance decision-makers.
Journal of Accountancy online (9/5)
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2 weeks ago

KJ Law & CPA

Homeownership pricier than renting in many places
Buying and owning a home have become more expensive than renting in many metropolitan areas, with monthly homeownership costs climbing 14% during the past year. Renting a home and investing the savings might yield superior returns.
CNBC (9/5)
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2 weeks ago

KJ Law & CPA

Why it's time to rethink standard retirement advice
Conventional wisdom about withdrawing 4% from retirement savings annually and using break-even analysis to determine when to claim Social Security might be flawed.
MarketWatch (9/5)
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3 weeks ago

KJ Law & CPA

Lender Management LLC and its impact on investment partnerships
The Tax Court held a taxpayer had engaged in the trade or business of providing investment-management services and therefore could fully deduct business expenses, instead of treating them as expenses for production of income.
The Tax Adviser (8/2018)
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3 weeks ago

KJ Law & CPA

Addressing 529 plan accounts in divorce
Divorcing parents often forget they might need to sort out 529 college-savings accounts they have opened for children. Accounts don't have to be split, but the divorce judgment should spell out what happens to the fund if the child doesn't attend college.
Financial Advisor online (8/24)
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3 weeks ago

KJ Law & CPA

Technology issues to consider in lease accounting
Financial-statement preparers are finding their systems for tracking leases are not sufficient for handling lease accounting under the new Financial Accounting Standards Board rule. Preparers might want to consider technological tools that help with accounting and administration of leases.
Journal of Accountancy online (8/27)
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4 weeks ago

KJ Law & CPA

US aims to block efforts to sidestep cap on state, local tax deduction
Rules proposed by the Treasury Department and the Internal Revenue Service seek to block states from getting around a $10,000 cap on a federal tax deduction for state and local taxes. Four states call the cap an "unconstitutional assault on states' sovereign choices" in a lawsuit.
CNBC (8/23)
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4 weeks ago

KJ Law & CPA

Inventory accounting for cannabis businesses: Sec. 280E and the impact of tax reform
While inventory accounting rules might mitigate effects of Sec. 280E's disallowance of deductions for cannabis businesses, it is unclear whether the Sec. 199A deduction may be taken as well.
The Tax Adviser (8/2018)
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4 weeks ago

KJ Law & CPA

Employees want more on-the-job assistance with retirement preparation
Workers are more interested in preparing for retirement than plan sponsors realize, according to a study by the Transamerica Center for Retirement Studies. The study finds 81% of employees favor automatic 401(k) enrollment, but only 22% of employers have implemented that feature, with employers citing potential employee resistance as the top reason for not having it.
CNBC (8/21)
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4 weeks ago

KJ Law & CPA

IRS letter indicates approval of 401(k) student-loan repayment option
The Internal Revenue Service, in a nonprecedential private letter ruling, has told a 401(k) plan sponsor it can amend the plan to offer a student-loan benefit program under which the employer makes nonelective contributions on behalf of an employee if that employee makes student-loan repayments.
PlanAdviser online (8/20)
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