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Top related persons:
Warren Buffett - 1 Buffett - 1 There's - 1 Kelly Gillette - 1 Danny Werfel - 1 Andrew Kelly - 1 Howard Makler - 1 Ty Burrell - 1
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Berkshire Omaha Texas New York Washington , Des Moines
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Internal Revenue Service - 2 Apple - 1 Treasury Department - 1 U.S - 1 Armanino LLP - 1 Apple Berkshire - 1 Berkshire - 1 Companies - 1

Search resuls for: "Armanino LLP"


6 mentions found


☆ Warren Buffett downsized his Apple stake for tax reasons. Here's what it means
  + stars: | 2024-05-15 | by ( Yun Li | ) www.cnbc.com   time to read: +3 min
Warren Buffett surprised many by selling a significant portion of his gigantic Apple stake, and his reason for the sale was even more surprising. Buffett, who trimmed Berkshire Hathaway's Apple holding by 13% in the first quarter after reaping enormous gains, suggested that the sale was for tax reasons. He implied the sale could be a means of avoiding an even higher tax bill down the road if tax rates rise to help plug a ballooning U.S. fiscal deficit. There's no special tax rate for capital gains in a corporation as they become part of the entity's income. Corporate income tax rate The corporate tax rate in the U.S. averaged 32.1% from 1909 to 2024, with a peak of 52.8% in the late 1960s, according to the Internal Revenue Service.
Persons: Warren Buffett, Buffett, There's, Kelly Gillette Organizations: Apple, Treasury Department, U.S, Internal Revenue Service, Armanino LLP, Apple Berkshire, Berkshire Locations: Berkshire, Omaha, Texas
☆ How Innovation Refunds cashed in on the Employee Retention Credit
  + stars: | 2023-10-27 | by ( Kate Rogers Paige Tortorelli | Kate Rogers | Paige Tortorelli | ) www.cnbc.com   time to read: +16 min
The Employee Retention Credit was intended to be a financial lifeline to small businesses struggling to make ends meet during the pandemic. Innovation Refunds — a consulting firm that focuses on the ERC — was one of the most visible advertisers during the tax credit's heyday. How Innovation Refunds worksOn its website, Innovation Refunds makes it clear it is not a tax professional. Innovation Refunds markets to clients, determines if they are viable candidates for the credit and then collects businesses' documentation. Some former employees said this could insulate Innovation Refunds from potential liability if ineligible businesses claimed the credit.
Persons: Danny Werfel, Andrew Kelly, Howard Makler, Ty Burrell, Burrell, Rob Domenico, Werfel, Tom Williams, Makler, Kate Rogers, Domenico, Slack, Jenn McCabe, Armanino Organizations: Companies, ERC, Internal Revenue Service, IRS, ERC —, CNBC, Reuters, CPA, Senate, Washington , D.C, CQ, Inc, Getty, LinkedIn, Justice Locations: New York, Washington ,, Des Moines
☆ Lack of Crypto Audit Regulation Raises Questions About PCAOB Authority
  + stars: | 2023-02-17 | by ( Mark Maurer | ) www.wsj.com   time to read: +6 min
Additionally, there isn’t a regulatory framework for audits for many crypto companies. The SEC, which oversees the PCAOB, is reviewing how crypto companies portray reports from audit firms in the aftermath of the FTX collapse. The PCAOB—which sets audit standards, inspects audits and disciplines audit firms—has said it can only oversee audits of public companies and SEC-registered broker-dealers. In a letter last month to PCAOB Chair Erica Williams, they said the watchdog ignored what they called questionable practices by auditors of crypto companies. Even potential improvements to crypto audit regulation might not prevent fraud in the crypto industry, said Andrew Kitto, an assistant professor of accounting at the University of Massachusetts Amherst and a former PCAOB economic research fellow.
☆ More Crypto Exchanges Verify Reserves, But Questions About Assets Remain
  + stars: | 2022-12-05 | by ( Mark Maurer | ) www.wsj.com   time to read: +7 min
Most crypto exchanges are privately held, meaning they don’t have to file financial statements with the Securities and Exchange Commission or get them audited. He added that customers of crypto exchanges should “look for as rigorous of that as you can look for regulatory reporting.”FTX founder Sam Bankman-Fried sat down with The Wall Street Journal to discuss what happened to the billions of dollars deposited by the exchange’s customers. Photo: Kenny Wassus/The Wall Street JournalSuch a third-party verification represents a step toward more transparency around crypto exchanges, but there are significant shortcomings, some academics said. Coinbase Global Inc. last month reported $95.11 billion in both customer crypto assets and liabilities for the quarter ended Sept. 30, up from $88.45 billion the previous quarter, filings show. Still, the PCAOB encourages investors to review reports on the work those companies’ auditors have done, Chair Erica Williams said at a conference Tuesday.
☆ FTX Auditors Doubled as Crypto Industry Cheerleaders
  + stars: | 2022-11-17 | by ( Jean Eaglesham | Patricia Kowsmann | ) www.wsj.com   time to read: 1 min
When FTX faced a liquidity crunch, the auditor of its U.S. unit seized the moment to promote its services for other crypto companies that were under the spotlight. It is a “great time to remember” Armanino LLP’s specialized crypto assurance, the firm tweeted last week, referring to a product that verifies customer assets held by crypto firms.
☆ Business owners have an IRS payment coming due well before April federal income tax deadline
  + stars: | 2022-11-15 | by ( Cheryl Winokur Munk | ) www.cnbc.com   time to read: +6 min
New business formation has boomed, and that means more new business owners than ever are dealing with tax season and potential tax nightmares. For starters, there's a big tax bill coming due for many business owners related to the pandemic, well ahead of the April 2023 federal income tax deadline. Here are a few more tips to stay ahead of the IRS this income tax season. Expect a new tax form related to Venmo, PayPal incomeFor tax year 2022, many business owners may be receiving a form they haven't in the past. The Wave State of Small Business Study for 2022 found that 35% of small businesses are blurring the lines between personal and business accounts.
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