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

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 [...]

View from the Dome: A Full Recap of the 2019 Legislative Session, With Tax Reform Proposals on the Way

View from the Dome – June 7, 2019 By Copper Dome Strategies, LLC  The first session of the 123rd General Assembly adjourned Sine Die on May 10, but the General Assembly returned two weeks later to complete [...]

Join Melisa Galasso for A&A Broadcast Course on ‘The New AICPA Auditor’s Report,’ a Must-See for Auditors

Course Title: “The New AICPA Auditor’s Report” Date of Broadcast: July 25, 2 p.m.; Date Recorded: May 12, 2019     Expected Credit Hours: 1 CPE. SCACPA members can apply one hour from their 2019-20 CPE Bank for Auditing credit. Fee for [...]

A Letter from Exceptional SC’s Executive Director About a Big State Tax Write-Off for Your Business in 2019

The following is a “Letter to Business Owners” written by Chad Connelly, the Executive Director of Exceptional SC, a 501(c)(3) dedicated to supporting exceptional needs students and families in South Carolina created by the passage of the Exceptional SC Law of [...]

Galasso A&A Video Blog: Subscription-Based Information Technology Arrangements This blog addresses a new exposure draft issued by GASB relating to accounting and financial reporting for subscription-based information technology arrangements (SBITAs). Cloud computing arrangements and other hosting type services have become increasingly more [...]

SCACPA Communications Earns 4 ‘Best in the Business’ Awards from SC Society of Association Executives

The South Carolina Association of CPAs earned four “Best in the Business” awards for its communications efforts from the SC Society of Association Executives during a luncheon at their annual conference at the Hilton Head Island Marriott Resort [...]

Get to Know SCACPA’s 2019-2020 Board of Directors: Zoe Davis, CPA, CFE

Get to know SCACPA’s 2019-2020 Board of Directors Chair Zoe Davis, CPA, as she shares what led her to accounting, why leadership is important to her and what she hopes to accomplish in her new role [...]

A Conversation with SCACPA’s A&A Learning Partner Melisa Galasso

“You tell me the ‘fair value’ of the Mona Lisa.”  This was an aside made by Melisa Galasso of Galasso Learning Solutions midway through an installment of her new Accounting and Auditing video blog series in partnership with SCACPA on the topic of “Definition of Direct Care [...]