September 30, 2022

Footnotes: Down with Itemized Deductions; Auditing God; LinkedIn Wants Adolescence to Be More Awkward | 08.19.13

IMAX — yes, that IMAX — is looking for a Financial Analyst in New York. WHOA. [GCJ] 

The Standard Deduction Undermines Itemized Deductions The standard deduction, then, does not make much sense if you believe itemized deductions are useful, valuable adjustments to the tax base. Why wipe out those effects for two thirds of taxpayers? The standard deduction makes a lot of sense, though, if you believe itemized deductions are arbitrary and confusing. In that case, the standard deduction restores some fairness and reduces paperwork, bringing the tax code more in line with our Principles of Sound Tax Policy – particularly, neutrality and simplicity. [Tax Foundation]

Watchdog: Fannie, Freddie Should Expedite Accounting Changes [WSJ]

Go read Greg Kyte's post on auditing God. You won't regret it. [Certified Public Agnostic]

Raising Kids? Your Taxes Are Far Too High [Bloomberg]

The SEC got a hedge fund manager to admit wrongdoing. [SEC]

LinkedIn Lowers Age Limit to 13, Annihilates Childhood Forevermore [Jezebel]

President Obama is getting anxious to have the remainder of the Dodd-Frank rules implemented. It's only been three years. [The Hill]

The AICPA's fourth annual Accounting Competition started today. [CPA Practice Advisor]

Romanian Princess Arrested In Oregon Cockfighting Ring [Deadspin]

Latest Accounting Jobs--Apply Now:

Have something to add to this story? Give us a shout by email, Twitter, or text/call the tipline at 202-505-8885. As always, all tips are anonymous.

Comments are closed.

Related articles

Monday Morning Accounting News Brief: PCAOB Arrives in Hong Kong; EY Evaluates Culture; Good Luck Hiring, IRS | 9.19.22

The Wall Street Journal talks about why the IRS is not going to have an easy time recruiting in this market. A review of EY’s practices after a staff member’s suicide will look at “workplace culture, healthy work practices and psychological safety” and be conducted by an external expert. Teams of PCAOB inspectors arrived at […]