Beer residue dating back 13,000 years has been found in stone mortars inside a prehistoric cave in Israel. "This accounts for the oldest record of man-made alcohol in the world," said Li Liu, who led the study, published in the Journal of Archaeological Science: Reports.
Lake is considered the favorite to replace Jamie Dimon after he retires, according to interviews conducted by Reuters.
The deduction for charitable contributions was somewhat enhanced by the Tax Cuts and Jobs Act, but there are certain limitations to consider. Here is a look at the rules -- including limits related to a taxpayer's adjusted gross income -- and tax planning tips that may help. Want more guidance on planning after tax reform? Check out this toolkit, available to PFP/PFS Section members.
Lawmakers in states such as Louisiana have taken aim at professional licensing requirements, drawing concern from CPAs nationwide. In many cases, CPAs are not necessarily the focus of legislation but are instead caught up in lawmakers' broader deregulatory efforts. Stay informed of any PFP-related regulatory changes and AICPA advocacy efforts on the PFP Legislative and Regulatory News page.
In the wake of the Great Recession, the share price of a major money market fund fell below $1, illustrating that risk is involved with these investments. "Everyone thought they were saving cash, but it was an investment and it could decline," said Dave Stolz, CPA/PFS. The Securities and Exchange Commission subsequently took steps to protect retail investors in money market funds.
The Social Security Administration often gives widows inaccurate information regarding survivor benefits, one study found. Advisers can help widows by listening carefully and by not pressuring them to act quickly. For more tips on advising your clients on collecting Social Security benefits, check out this guide (for PFP/PFS Section members).
As Hurricane Florence approached, the IRS reminded taxpayers that preparation is about more than boarding up windows and following evacuation orders. It is also important to copy critical documents, catalog assets and develop a list of key contacts, among other precautions. Find more disaster planning resources here.
Congressional negotiators have developed a funding compromise intended to head off a government shutdown before midterm elections. The agreement would provide fiscal 2019 funding for the Defense, Education, Health and Human Services, and Labor departments, and it would keep other parts of the government operating through Dec. 7.