SCACPA Blog2018-04-27T14:34:20-04:00

SCACPA Advocacy Issue Gains Traction as IRS Commissioner Considers a Practitioner Services Division

As the IRS modernizes its policies, practices and systems, SCACPA believes tax professionals should have as many tools as possible in one place to aid taxpayers in successfully adhering to the updated tax code. [...]

SC News and Tax Roundup: Opportunity Zone Credits Help Break Ground for Charleston Tech Office

Opportunity Zone Credits Help Break Ground for Tech Office in Charleston’s Upper Peninsula After many years of delays, construction for the long-delayed $54 million development for the Charleston Tech Center is underway on land the [...]

Galasso A&A Video Blog: New State and Local Ethics Interpretations The AICPA has issued a new interpretation related to the ethics code for state and local governments. This interpretation helps identify the entities related to a state or local government, which are [...]

View from the Dome: General Assembly Returns to Override 25 of 28 McMaster’s Budget Vetoes

View from the Dome – June 28, 2019 By Copper Dome Strategies, LLC The General Assembly returned to Columbia one final time on Tuesday, June 25, to deal with the governor's vetoes of the FY 2019-20 state [...]

The South Carolina Tax Team Challenges You to a Friday of Advanced Tax Planning for Businesses on July 12 in Charleston

The time is NOW to help your business clients with tax strategies for 2020! Most strategies for reducing federal income tax liabilities require analysis, fact gathering, comparisons of alternatives, and projections of possible results. [...]

SC News and Tax Roundup: SC Motorists Will Pay More at the Pump in July, But When Will New Road Construction Speed Up?

As SC Drivers Pay More Gas Tax in July, Road Construction is Slow to Take Off Monday will mark when South Carolina drivers must pay 2 cents more per gallon of fuel in gas [...]

Reactions to IRS Charitable Contributions Final Ruling: Here’s How Exceptional SC Executive Director Says Adjustments Are Still a Possibility

On June 11, the IRS published Treasury Decision 9864, which finalizes proposed regulations designed to clarify the relationship between state and local tax credits and federal tax rules for charitable contribution deductions.   SCACPA has closely monitored the [...]

Lynn Nichols Sorts Through SALT Impacts on IRS’s Charitable Contributions Final Ruling

Note: SCACPA federal tax expert E. Lynn Nichols has looked closely at June 11’s Treasury Decision 9864, which finalizes proposed regulations designed to clarify the relationship between state and local tax credits and federal [...]

SC News and Tax Roundup: Pair of Lowcountry Counties are Learning Their Property Tax Reassessments

Berkeley County Property Tax Reassessment Notices Sent; Dorchester to Follow Property tax bills changes are arriving outside Charleston’s metro area. Reassessment notices for land and buildings have been sent to owners of more than [...]

Galasso A&A Video Blog: Amendments to Description Concept Materiality The AICPA’s Auditing Standards Board issued an exposure draft of a proposed SAS andproposed SSAE titled “Amendments to the Description of the Concept of Materiality.” When effective, the proposed amendments would impact the description of when [...]

SC News and Tax Roundup: Here’s Why May was Record Month for Cargo Volume at Port of Charleston

May was Record Month for Cargo Volume at Port of Charleston The State Ports Authority announced that the 204,457 containers moved through the Port of Charleston in May broke a record from a year ago. [...]

SCACPA Student Member Part of Winning USC Team at Deloitte Audit Innovation Campus Challenge

SCACPA sends its congratulations to Student Member Katie Bergey, who was part of a team of six University of South Carolina accounting students who won the annual Deloitte Audit Innovation Campus Challenge in April. [...]

IRS Promotes its Tax Withholding Calculator for Your Paycheck Checkup

The IRS is urging taxpayers to review their 2019 tax withholding using the IRS Withholding Calculator and make any changes with their employer as soon as possible.  Checking withholding is a good idea every year, and it’s even more [...]

Public Draft is Open for Comments Until June 19 for August’s Sales Tax Holiday Weekend

As South Carolina consumers and retailers prepare for August’s annual Sales Tax Holiday, the state Department of Revenue has submitted a Public Draft for comment that features a list of eligible items and frequently asked questions.  This advisory [...]