Auditing & Accounting

SC DOR Revises its Revenue Ruling on Sales and Use Tax Economic Nexus Standard

By |2018-09-20T16:39:59+00:00September 20th, 2018|Auditing & Accounting, Business & Industry, Governmental, Legislative/Advocacy, Regulatory, Tax|

The South Carolina Department of Revenue has announced an advisory opinion that updates SC Revenue Ruling #09-9 concerning when a retailer must remit a local jurisdiction’s Sales and Use Tax. [...]

In Letter to S.C. Congressional Delegation, Gov. McMaster Requests Help for Federal Support, Individual Assistance for Florence Recovery

By |2018-09-20T16:11:16+00:00September 20th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Regulatory, Tax|

Gov. Henry McMaster sent a letter to South Carolina’s congressional delegation on Thursday, requesting their continued support for his request for Federal disaster assistance for an expected $1.2 billion in [...]

SEC Offers Regulatory Relief for Florence

By |2018-09-20T16:08:54+00:00September 20th, 2018|Auditing & Accounting, Business & Industry, Governmental, Legislative/Advocacy, Regulatory, Tax, Technology|

The Securities and Exchange Commission announced Wednesday that it is providing regulatory relief to accountants, transfer agents, municipal advisors, publicly traded companies, investment companies, and others affected by Hurricane Florence where [...]

SC DOR to Offer Case-By-Case Tax Relief for Hurricane Florence

By |2018-09-19T10:20:04+00:00September 19th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Regulatory, Tax, Technology|

The South Carolina Department of Revenue announced on Tuesday that it will work on a case-by-case basis to waive any penalties assessed for taxpayers who cannot meet state filing [...]

SC DOR Issues Advisory Opinion for Remote Sellers and Sets Economic Nexus Standard of $100,000

By |2018-09-19T09:55:08+00:00September 19th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Tax, Technology|

The SC Department of Revenue has approved and issued its Advisory Opinion, Revenue Ruling 18-14: Retailers Without a Physical Presence (“Remote Sellers”) – Economic Nexus, on Tuesday, Sept. 18. It [...]

Tax Conformity Arrangement Moves Forward from Senate Finance Subcommittee

By |2018-09-18T15:42:35+00:00September 18th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Regulatory, Tax|

The push to enact Tax Conformity in South Carolina passed a significant milestone as the Senate Finance Subcommittee on Conformity unanimously adopted an amendment to a House bill on [...]

IRS Reminder: Beware of Disaster Scammers During Florence Recovery

By |2018-09-18T11:37:08+00:00September 18th, 2018|Auditing & Accounting, Governmental, Legislative/Advocacy, Tax, Technology|

The IRS is reminding taxpayers that criminals and scammers try to take advantage of the generosity of taxpayers who want to help victims of major disasters, such as Hurricane [...]

Columbia Business Review Ranks Bauknight, Pietras & Stormer as Columbia’s Top Accounting Firm

By |2018-08-28T14:27:58+00:00August 28th, 2018|Auditing & Accounting, Business & Industry, Membership, Public Relations|

Bauknight Pietras & Stormer, P.A., which started in 1991 as a four-person accounting practice, has been ranked the No. 1 accounting firm in the Columbia region, according to Columbia Business [...]

SCACPA Presents: A Free 8-Hour Comprehensive 199A Update Course on Sept. 20

By |2018-08-23T14:52:09+00:00August 23rd, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Membership, Regulatory, Tax|

COURSE TITLE: “Complete Coverage of 199A Regulations” REGISTER NOW: SMTX59 – In-Person | LITX59 – Livestream Lynn Nichols, CPA, host of SCACPA’s Federal Tax Update Podcast and presenter for [...]

Member Benefit Alert: SCACPA Partners with Surgent On-Demand Self-Study CPE

By |2018-08-21T16:21:08+00:00August 21st, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Membership, Partners, Public Relations, Regulatory, Tax, Technology|

SCACPA members who know they can depend on the Association for all-around CPE excellence now have an incredible opportunity to get specialized knowledge for their precise career needs. The [...]

SCACPA Treasurer Newhouse Testifies to Senate Finance Subcommittee on Need for Tax Conformity

By |2018-08-15T19:25:42+00:00August 15th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Membership, Regulatory, Tax|

Note: Read a summary about the Senate Finance Subcommittee on Conformity’s initial Aug. 8 meeting here. The Senate Finance Subcommittee on Conformity met for the second time on Wednesday morning, [...]

S.C. Tax Team’s Lynn Nichols Examines IRS Proposed Regulations on IRC Sec. 199A (Qualified Business Income Deduction)

By |2018-08-23T14:59:06+00:00August 14th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Legislative/Advocacy, Regulatory, Tax|

The IRS’s proposed regulations to explain and interpret Code Section 199A stemming from the Tax Cuts and Jobs Act were released on Wednesday, Aug. 8. Lynn Nichols, of the [...]

Member Comments Sought on Proposal for New AICPA Auditing Standard

By |2018-08-07T19:54:37+00:00August 7th, 2018|Auditing & Accounting, Governmental, Legislative/Advocacy, Membership, Regulatory|

Changes are coming for those who perform attestation engagements. A standard proposed by the AICPA Auditing Standards Board would change the terminology for what has been known as a “review [...]

Technical Corrections Would Help These 3 TCJA Provisions

By |2018-08-02T17:09:44+00:00August 2nd, 2018|Auditing & Accounting, Business & Industry, Governmental, Regulatory, Tax|

By Thomas McCormick, CPA | SCACPA Member Since 2013 As time has passed since the enactment of the 2017 Tax Cuts and Jobs Act, tax professionals have noted mistakes in [...]

CPA Profession Backs Proposed Legislation that Limits Damage Awards Against State Regulatory Boards

By |2018-07-30T17:40:24+00:00July 30th, 2018|Auditing & Accounting, Governmental, Legislative/Advocacy, Membership, Regulatory|

The American Institute of CPAs supports legislation introduced in the United States Congress that would help ensure that members of state regulatory boards are not deterred from serving because of [...]

S. C.’s Sales Tax Holiday Weekend is Fri., Aug. 3-Sun., Aug. 5

By |2018-07-30T15:20:19+00:00July 30th, 2018|Auditing & Accounting, Business & Industry, Governmental, Tax|

South Carolina’s annual Sales Tax Holiday begins at 12:01 a.m. on Friday, Aug. 3 and continues until midnight of Sunday, Aug. 5. A list of dozens of items, including back-to-school [...]

Succession Planning for CPA Firms Leads to ‘Merger Frenzy’

By |2018-07-23T14:42:50+00:00July 23rd, 2018|Auditing & Accounting, Business & Industry, Tax, Technology|

Owners and partners of smaller-sized CPA firms who are nearing retirement age often face two options on how to pass along their practice: a) make themselves attractive to be bought [...]

SCACPA Member Benefit Alert: Clemson Tax School Included in 40-Hour CPE Package

By |2018-07-30T08:04:17+00:00July 13th, 2018|Auditing & Accounting, Business & Industry, Featured, Governmental, Membership, Partners, Regulatory, Tax|

Seats are filling fast for this fall’s 57th annual Clemson University Income Tax Course, the two-day classes offered throughout South Carolina from late October through mid-December. Seats are filling [...]

Deadline Extended to July 31 for PCPS/CPA.com National MAP Survey

By |2018-07-13T15:28:20+00:00July 13th, 2018|Auditing & Accounting, Business & Industry, Membership, Partners|

AICPA will extend the deadline through July 31 to complete the 2018 AICPA PCPS/CPA.com National Management of an Accounting Practice (MAP) Survey. The CPA profession’s largest benchmarking tool has [...]

IRS, Security Summit Launch Awareness Campaign to Protect Client Data

By |2018-07-10T19:02:52+00:00July 10th, 2018|Auditing & Accounting, Business & Industry, Governmental, Regulatory, Tax, Technology|

The IRS and its Security Summit partners have initiated a summertime security awareness campaign for tax professionals with an expanded guide that provides critical steps to protect client data. "Protect [...]