Showing Results for News

March 6, 2018

‘Empower the Change Within’: NABA Offers $50 Registration Discount to SCACPA Members for Summer Convention

The National Association of Black Accountants Inc. will host its annual national convention this June in Orlando, Florida, and SCACPA members who are not currently NABA members can save $50 when registering. “iVolutIon! Empower the Change...
March 6, 2018

South Carolina’s 2017 unemployment rate was 4.3%

South Carolina’s seasonally adjusted unemployment rate fell in 2017 to an average of 4.3% compared to a rate of 5% in 2016, according to the Bureau of Labor Statistics’ re-estimated unemployment data. The state was home to more than 2.22...
March 2, 2018

IRS’s Updated Withholding Calculator is Vital for ‘Paycheck Checkup’

The IRS updated its Withholding Calculator and released a new version of Form W-4 to help taxpayers make sure they have the right amount of tax taken out of their paychecks. “Withholding issues can be complicated, and the calculator is...
March 2, 2018

Legislative Update: Sales Tax Overhaul is Out; State Income Tax Reform is on the Move; Conformity Options Sought; View From the Dome

The House of Representatives Tax Policy Review Committee is putting to rest (for now) its recent proposal to reduce the statewide sales tax rate from 6% but which would require adding a 3% tax on professional services. While it stands a chance to be...
March 1, 2018

SCACPA Legislative Update: State’s $8.2B Budget Adopted; 3% Tax on Services Proposed

As part of our mission to be on the forefront of advocacy for South Carolina CPAs, the SCACPA Advocacy team is pressing forward on our messaging to legislators to take action on the state tax code’s Conformity to the Federal Tax Code. Because...
March 1, 2018

Home Equity Loan Interest Can Still Be Deductible

The IRS advised taxpayers that there are many cases in which can continue to deduct interest paid on home equity loans. The IRS, in responding to questions from taxpayers and tax professionals, said that despite newly enacted restrictions on home...