Earnings before interest, taxes, depreciation, and amortization is a performance metric that is frequently used as a measure of a firm's ability to generate cash and service its debt. However, EBITDA is neither an element of generally accepted accounting principles nor a product of the international financial reporting standards, which makes it difficult to compare across companies.
And here's another article:
Trump: Slashing regulations boosted economy more than tax cuts
President Trump declared today that his war on Obama-era regulations has done more than his tax cuts have to fuel the booming economy.
In an interview with Geraldo Rivera, Trump boasted, "I will tell you, a big part of our recovery, bigger even than the tax cuts, were the regulation cuts."
During the 2016 presidential campaign, Trump promised to cut two Obama-era regulations for every new one he proposed.
In fact, the administration has done far better than that goal. The latest Competitive Enterprise Institute audit of regulations found that the administration has cut far more than two for every new one.
IBOR Transition: Proposed US Federal Tax Regulations
On October 8, 2019, the US Internal Revenue Service released proposed regulations addressing the US federal tax consequences of replacing an interbank offered rate (IBOR) with a successor rate.
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This Mayer Brown article provides information and comments on legal issues and developments of interest. The foregoing is not a comprehensive treatment of the subject matter covered and is not intended to provide legal advice. Readers should seek specific legal advice before taking any action with respect to the matters discussed herein.
Now is the Time for Tax Automation - CFO
While larger organizations have been leveraging automation for quite some time, some mid-market organizations are still using cumbersome manual methods for researching and updating sales and use tax rates that are slow, prone to error, and a drain on valuable resources.
Any business that has to collect and remit sales tax can reduce manual processes and improve accuracy with a tax automation solution. While implementing new systems and processes can feel daunting, the results of the transformation can free up time and resources to focus on expanding the business rather than keeping track of new tax rates and regulations.
While you're here, how about this:
GOP senators offering bill to cement business provision in Trump tax law | TheHill
The bill would permanently extend a portion of the tax law that allows businesses to immediately write off the full costs of certain investments, which is commonly referred to as "full expensing." This provision is currently slated to start to phase out after 2022.
"My bill to make full expensing permanent would give manufacturers and businesses of all sizes certainty around investment planning and it would keep our economy humming," Toomey said in a statement.
Iowa has a golden opportunity for pro-growth tax reform in 2020
In 2018 the Iowa Legislature passed the first major comprehensive tax reform legislation in a decade. Gov. Kim Reynolds, in her Condition of the State Address this year, called for further tax relief. Reynolds and many legislators understand that Iowa needs a pro-growth tax structure that allows Iowans to keep more of their hard-earned income and makes the state more competitive.
The 2018 tax reform law lowered the top individual income tax rate to 8.53% in 2019, and the top corporate tax rate is scheduled to be lowered from 12% (the nation's highest) to 9.8% by 2021. In 2023, the top personal income tax rate is scheduled to fall to 6.5% if revenue triggers are met. Reynolds has proposed the Invest in Iowa Act , which calls for further personal income tax relief, among other tax reforms.
IRS urged by GAO to offer more cryptocurrency tax guidance | Accounting Today
The Internal Revenue Service could be doing more to help taxpayers who own Bitcoin and other forms of cryptocurrency to comply with their tax obligations, according to a new report from the Government Accountability Office.
However, part of the 2019 FAQ guidance isn't considered authoritative because it was not published in the Internal Revenue Bulletin. The IRS has said that only guidance published in the IRB is its authoritative interpretation of the tax laws. The IRS didn't make it clear to taxpayers that this part of the guidance isn't authoritative and is subject to change.
Yellen and an all-star, bipartisan coalition pitch carbon tax - Roll Call
A bipartisan group of economists and former Cabinet officials, including former Federal Reserve Chairwoman Janet Yellen and former Secretary of State James Baker, continued their push for a carbon tax Thursday, which they contend would halve emissions by 2035 and give families more money.
The group, the Climate Leadership Council, suggests a gradually rising carbon tax starting at $40 per ton as an alternative to federal regulations to control climate change.
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