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Taxpayer Fails to Prove Compensation Deduction

(Accounting Web) - It may often be a good idea for a small business owner to have children and other relatives on the company payroll. However, a new Tax Court case put a spotlight on what truly qualifies for the tax deductability of compensation to that employed relative, and what does not.


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75% of Middle-class Households Say Their Income is Falling Behind the Cost of Living 
(CNBC) - Among those whose income falls in the $30,000-to-$100,000 range, 75% say their earnings are falling behind the cost of living, and 77% think the U.S. will be in a recession by the end of 2022.

Art of Accounting: 6 types of Referrals, Positive and Negative  
(Accounting Today) - The best referral sources are existing clients. When they refer someone, there is an implied endorsement almost like a presale certification. It is also a sign of satisfaction with your services and performance. I find there are four types of positive and two types of negative referral sources. Let’s examine these six situations.

AICPA Recommends Additional IRS Backlog Measures 
(JofA) - While the IRS's efforts to contend with the COVID-19 pandemic's effects on taxpayers and tax administration are appreciated, the Service should do more now to ensure taxpayers, practitioners, and the agency itself aren't bedeviled in 2023 by now-chronic delays...

Google Authenticator Ditches a Fairly Recent Feature it Didn't Need Anyway  
(Android Central) - Google appears to have backtracked on a new feature it recently added to the Authenticator app. The app no longer requires you to tap on a hidden security code to reveal your 2FA code.

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