Will Olympians and Paralympians get to keep ALL of their winnings they worked so hard for? How is the IRS helping defined benefit participants get the full benefit of their retirement funds? What is the #1 nonprofit risk identified by the nonprofits themselves?
All these questions and more answered in this week’s news wrap-up! See what happened in your world this week.
Go team USA!
Legislation called the United States Appreciation for Olympians and Paralympians Act (H.R. 5946) passed that will eliminate taxes on the winnings of our athletes. Read more about Olympic Medal taxation here.
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Capitalize on your status, and build your revenue streams by expanding services to current clients who are already view you as a trusted advisor. Read more here.
What is the IRS doing for defined benefit participants?
Defined benefit plan participants can receive lump sum and annuity under new rules. The IRS believes this plan will better serve participant in the long run. Read more here.
Rolls-Royce hires a new CFO
New Rolls-Royce CFO Faces Tricky Accounting. Will the complicated accounting structure prove to be too much for the new CFO? Find out here.
Are you involved in a nonprofit?
Here’s a good read about the top 10 risks facing nonprofits today as voiced by those that are in the trenches of nonprofit work: Nonprofit Risk: Opportunities and Challenges in a High-risk World
The End of Accounting
Is the accounting world as we know it disappearing? Maybe. According to Forbes, “In the age of the information economy, the old book keeping rules are failing.” What do you think? Get The End of Accounting here, or review the book here.