FASB releases guidance on accounting for government grants
The Financial Accounting Standards Board issued an accounting standards update with guidance on accounting for government grants to business entities.
Guidance issued on Trump Accounts
The release coincides with a $6.25 billion donation from Michael Dell and his wife to kickstart the savings program.
In the blogs: Rated M for Mature
Planning around SSI COLAs; holiday business deductions; complex decisions of inheritance; and other highlights from our favorite tax bloggers.
IASB proposes accounting model for interest rate risks
The new accounting model would reflect how financial institutions manage interest rate risks in their portfolios.
Obamacare tax credit fraud risks persist
Identity theft, fictitious applicants and other forms of fraud continue with the advance premium tax credit for buying health insurance.
House passes bills on IRS penalties and Tax Court
The House approved two pieces of legislation to keep IRS agents from levying fines and penalties without supervisory approval, and to strengthen taxpayer rights in proceedings before the Tax Court.
How AI will change the game for tax pros over the next five years
The word “transformation” doesn’t do justice to the kinds of seismic changes that have started to take root in the accounting profession over the past year.
Canadian CEOs conquer Cash Flow anxiety and grow with Xero
Growing a small business is exhilarating, but the reality of managing its finances can be exhausting. From juggling invoices and tracking expenses to facing year-end taxes, the financial burden often pulls entrepreneurs away from the work they love—and the work that drives growth. We partnered with BetaKit to showcase the unvarnished stories of two Canadian …
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Xero featured in CBS’s 50 American Leaders series
We are thrilled to announce that Xero has been featured in the CBS documentary series, 50 American Leaders. This feature highlights our commitment to empowering small business growth through continued investment in AI-driven tools, payments and analytics, all while fostering deep partnerships with accountants and bookkeepers. Small businesses are the backbone of the economy. We’re …
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Charitable deduction gets caps, floors and haircuts in OBBBA
Just in time for Giving Tuesday, there’s some good news for charities, thanks to the One Big Beautiful Bill Act, but also some new caps and limits.