SCDOR Tax Legislative Update for 2023
The South Carolina Department of Revenue’s Information Letter #23-11 provides an overview of tax law changes enacted during the 2023 legislative session in South Carolina. The main updates include: [...]
From SCDOR: South Carolina Updates to Maximum Sales & Use Tax (Max Tax)
The South Carolina Department of Revenue (SCDOR) has announced changes concerning the state's Maximum Sales & Use Tax (Max Tax). Here are the key takeaways: Max Tax is a [...]
Genuine Learning Blog: Revisions to OMB Guidance for Grants and Agreements
OMB has updated regulations with respect to the domestic preferences provisions in the Build America, Buy America Act of the Infrastructure Investment and Jobs Act. [...]
Fall Fest Presents: ESG with Walda Wildman
By Walda Wildman, CPA All kinds of big companies are playing up their compliance with ESG standards. However, those companies haven’t had any codified standards to use in preparing [...]
Genuine Learning Blog: Concept Stmt: Chapter 5, Recognition and Derecognition
In August, the FASB issued Chapter 5 of the Conceptual Framework, Recognition and Derecognition. The chapter addresses the criteria that would be used to determine [...]
Genuine Learning Blog: Concept Stmt: Chapter 2, The Reporting Entity
The FASB has issued a new Concept Statement around the Reporting Entity. While concept statements are not authoritative GAAP they are the theory that underlies [...]
From the IRS: IRS Orders Immediate Stop to New Employee Retention Credit Processing
To protect taxpayers from scams, IRS orders immediate stop to new Employee Retention Credit processing amid surge of questionable claims; concerns from tax pros, aggressive marketing to ineligible applicants [...]
Fall Fest Presents: SECURE 2.0 with Karen Davis
By Karen Davis, EA, MBA, PhD The “Setting Every Community Up for Retirement Enhancement Act of 2020” (SECURE Act) made two significant retirement plan changes starting in 2020 – [...]
Accountable Podcast: Inclusive Hiring, It Starts With Us with Kat Kibben
According to a recent IMA and CalCPA study, one-in-five LGBTQ+ respondents in the US report they have left the accounting profession due to a lack of DEI, mainly due to [...]
IRS & SCDOR Extend Tax Relief for All 46 South Carolina Counties Following Idalia
Updated 9/8/2023 On Wednesday, September 6, the Internal Revenue Service (IRS) announced an extension in tax filing and payment deadlines for individuals and businesses affected by the Idalia storm [...]