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2. PARTNERSHIP TAXATION: A Tax Court case demonstrates the complexities surrounding whether an entity is a partnership for tax purposes

Author

Harden, J. William and Upton, David R.

Subjects
Tax planning, Tax law, Taxation, Tax administration and procedure, Partnership, Tax law, Banking, finance and accounting industries, Business, general, Business
Abstract

PARTNERSHIP TAXATION IS ONE OF THE MOST interesting and complex areas of tax accounting that managers in both industry and public practice come across. The partnership 'entity' is designed to [...]

Published
2023

3. Business Tax Planning Issues for 2021.

Author

Curatola, Anthony P., Harden, J. William, Rinier, James W., and Upton, David R.

Subjects
BUSINESS tax, TAX planning, CASH flow, PROFESSIONS
Abstract

Many tax changes have been implemented in 2020 that will affect businesses. These were designed to assist businesses and/or their owners with improved cash flow through loans, credits, and increased deductions. This article examines many of these provisions that are of interest to financial service professionals to help with planning for 2021 and making the best decisions regarding 2020 taxes. [ABSTRACT FROM AUTHOR]

Published
2020

4. Retirement Income Planning Issues for 2021.

Author

Curatola, Anthony P., Harden, J. William, Rinier, James W., and Upton, David R.

Subjects
RETIREMENT income, PENSIONS, LIFE expectancy, LIFE tables, INVESTMENT advisors
Abstract

Congress has been particularly busy the past 2 years making a number of changes to the distribution requirements for owners of qualified retirement plans, including IRAs. In addition, the Department of Treasury (Treasury) has recently revisited the life expectancy tables and issued proposed regulations that increase the life expectancy tables for individuals, beginning with tax year 2021. Since Congress temporarily suspended the required minimum distributions for tax year 2020, taxpayers and financial service advisors have a chance to catch their breath to assess how best to address these changes for their clients and prospective clients. This article focuses on the new legislation and regulations that are relevant to those in the financial services area as they respond to these numerous changes affecting retirees. [ABSTRACT FROM AUTHOR]

Published
2020

5. REPORTING CRYPTOCURRENCY TRANSACTIONS: With the increasing use of cryptocurrencies, the IRS is attempting to address the growing tax gap with new reporting requirements

Author

Harden, J. William and Upton, David R.

Subjects
United States. Internal Revenue Service -- Powers and duties -- Laws, regulations and rules, Crypto-currencies -- Usage, Taxation -- Laws, regulations and rules, Government regulation, Banking, finance and accounting industries, Business, general, Business
Abstract

TRANSACTIONS INVOLVING CRYPTOCURRENCIES (also known as virtual currencies) are becoming more and more common. The Internal Revenue Service (IRS) defines virtual currency as a digital representation of value that functions [...]

Published
2022

6. RETROACTIVE CHANGES TO THE EMPLOYEE RETENTION CREDIT

Author

Harden, J. William and Upton, David R.

Subjects
Tax credits -- Laws, regulations and rules, Payroll tax -- Laws, regulations and rules, Government regulation, Banking, finance and accounting industries, Business, general, Business, Coronavirus Aid, Relief, and Economic Security Act of 2020
Abstract

Several pieces of legislation have made changes to the refundable payroll tax credit since its inception in 2020. THE EMPLOYEE RETENTION CREDIT (ERC) was originally created in the Coronavirus Aid, [...]

Published
2022

8. TAXPAYER RELIEF FROM NET OPERATING LOSS CHANGES: The CARES Act modifies the carryback rule for net operating losses and makes them fully deductible as they were before the Tax Cuts and Jobs Act

Author

Harden, J. William and Upton, David R.

Subjects
Tax accounting -- Methods -- Laws, regulations and rules, Economic policy -- Analysis, Government regulation, Banking, finance and accounting industries, Business, general, Business, Coronavirus Aid, Relief, and Economic Security Act of 2020, Tax Cuts and Jobs Act of 2017
Abstract

One of the major tax benefits of the Coronavirus Aid, Relief, and Economic Security (CARES) Act of 2020 (P.L. 116-136) was the modification of the net operating loss rules. In [...]

Published
2021

9. The Tax Cuts and Jobs Act: Implications for Financial Professionals.

Author

Curatola, Anthony P., Harden, J. William, and Upton, David R.

Subjects
TAX cut laws, TAX cuts, CORPORATE taxes, FINANCIAL services industry, ESTATE planning
Abstract

The Tax Cuts and Jobs Act of 2017 (PL 115-97) was signed into law on December 22, 2017, and implements many significant tax changes that will affect all taxpayers. For individual taxpayers, the new law reduces tax rates, broadens tax rate brackets, increases the standard deduction, and modifies or eliminates a number of itemized deductions, including the personal and dependent exemption. For corporate taxpayers, the new law reduces the tax rate to 21 percent and modifies a number of tax provisions. Finally, a deduction for tax years 2018 through 2025 for qualified business income (for pass-through entities) is added by the act. This paper details these tax changes and discusses some related planning opportunities that are most likely to affect financial service professionals' clients. [ABSTRACT FROM AUTHOR]

Published
2018

10. Regulatory Changes Impacting Partnerships: An Opportunity for Financial Professionals.

Author

Harden, J. William and Upton, David R.

Subjects
BUSINESS partnerships, TAXATION, TAX planning, BUSINESS tax
Abstract

The IRS recently issued proposed regulations related to the new partnership audit regime. Of particular interest to financial service professionals is a change in the rules that allows persons other than partners or members to act as partnership tax representatives. This new rule opens up the possibility for financial service professionals to act as the partnership tax representative for partnership clients. This article outlines changes in the new partnership audit regime and discusses how these changes might expand the reach of the financial service practice. [ABSTRACT FROM AUTHOR]

Published
2018

11. Improving stakeholder value through sustainability and integrated reporting

Author

Hughen, Linda, Lulseged, Ayalew, and Upton, David R.

Subjects
Corporate social responsibility -- Economic aspects -- Forecasts and trends, Corporate sustainability -- Economic aspects -- Forecasts and trends, Market trend/market analysis, Banking, finance and accounting industries, Business
Abstract

Corporate social responsibility (CSR) is a term used to describe an organization's awareness of its operations' impact on economic, social, environmental, and governance concerns, as well as the steps it [...]

Published
2014

14. The effort and risk-taking effects of budget-based contracts

Author

Sprinkle, Geoffrey B., Williamson, Michael G., and Upton, David R.

Subjects
Budget -- Influence, Budget -- Reports, Risk-taking (Psychology) -- Influence, Risk-taking (Psychology) -- Reports, Banking, finance and accounting industries, Business
Abstract

We investigate how the budget levels embedded in budget-based contracts affect individual effort and risk-taking. We show that, from a wealth maximization perspective, a tradeoff exists between motivating effort and encouraging risk- taking. We illustrate an inverted-U relation between budget levels and effort. Budget levels and effort are positively correlated until budgets become very difficult, at which point individuals 'give up.' We illustrate an opposing, U-shaped, relation between budget levels and risk-taking. Low budgets provide the flexibility to take greater risks, whereas high budgets induce individuals to 'play it safe' to ensure budget attainment. Risky projects provide the greatest probability of reaching very high (stretch) budgets. We conduct a laboratory experiment to empirically test this economic proposition vis-a-vis extant psychology research. Consistent with security-potential/aspiration theory, we find that individuals are willing to sacrifice expected wealth to either meet the budget or increase their potential payoffs. Our results suggest that the effort-risk tradeoff is mitigated at low budget levels, thereby increasing firm welfare, but is exacerbated at high budget levels, reducing firm welfare. Collectively, our results highlight the importance of understanding how managerial accounting practices such as budgets affect the various determinants of performance and not just performance per se. Our results also help reconcile conflicting evidence regarding where budget difficulty levels should be set.

Published
2008

15. An Introduction to the Use of the Balanced Scorecard for Performance Evaluation by Financial Professionals.

Author

Harden, J. William and Upton, David R.

Subjects
FINANCIAL services industry, ECONOMIC competition, ORGANIZATIONAL performance, FINANCIAL management, PERFORMANCE standards, TREND analysis in business, BUSINESS development
Abstract

Financial service firms facing increasing competitive pressures seek to maximize firm performance and the performance of employees. The purpose of this article is to provide financial service professionals with an overview of the Balanced Scorecard and demonstrate that it can strengthen the competitive advantage of financial service firms. Many organizations using solely the traditional financial measures inadvertently provide incentives for employees to focus on short-term sales results rather than the long-term performance of the organization. Managers of these financial firms should consider the benefits of using nontraditional measures as part of the performance evaluation system in addition to more traditional measures to alleviate these issues. [ABSTRACT FROM AUTHOR]

Published
2016

18. Experimental balanced scorecard research: implications for practitioners

Author

Upton, David R.

Subjects
Balanced scorecard -- Analysis, Business performance management -- Analysis, Banking, finance and accounting industries, Business
Abstract

RESEARCHERS HAVE CONDUCTED A NUMBER OF EXPERIMENTS ON THE DEPLOYMENT AND USE OF BALANCED SCORECARDS. THE RESULTS HIGHLIGHT A NUMBER OF ISSUES THAT MANAGERS SHOULD BE AWARE OF WHEN IMPLEMENTING THE BALANCED SCORECARD TO ASSIST WITH EVALUATION OF PERFORMANCE AND STRATEGY., The balanced scorecard (BSC) is heralded as one of the most significant recent developments in managerial accounting. It combines traditional measures of performance with leading indicators of future financial performance [...]

Published
2012

19. PARTNERSHIP TAXATION.

Author

HARDEN, J. WILLIAM and UPTON, DAVID R.

Subjects
*TAX courts, *PARTNERSHIP agreements, *TAXATION, *INCOME, *LOANS, *INCOME tax
Abstract

The article discusses the complexities of partnership taxation. Topics covered include contentious areas on the existence in fact of a partnership, whether a payment to a partner is made as a partner or a payment to a third party, and instances of unclarity whether a partnership has been established which is illustrated in a given case. Also noted are eight factors in tax law.

Published
2023

20. Value relevance of mandated comprehensive income disclosures

Author

Cahan, Steven F., Courtenay, Stephen M., Gronewoller, Paul L., and Upton, David R.

Subjects
Disclosure statements (Accounting) -- Research, Banking, finance and accounting industries, Business
Abstract

Mandated comprehensive income disclosures and their value relevance are discussed.

Published
2000

21. Three '-isations': thinking with but beyond the sociological in comprehending accounting in a global context

Author

Arrington, Edward, Upton, David R, Arrington, Edward, and Upton, David R

Abstract

This essay seeks to render accounting's relation to globalisation understandable in a hermeneutic rather than sociological way. We address accounting's relation to globalisation first through Bartelson's three approaches to understanding globalisation in general, approaches that he terms transference, transformation, and transcendence. We offer brief allusions to how existing critical accounting work may or may not speak to these different approaches. We then suggest that accounting's place within globalisation embeds practices and rationalities which others have referred to as 'accountingisations'. We conclude the essay with some remarks on the emancipatory potential and transcendental horizon of orienting accounting toward what we rather nervously term 'worldisations', an idea which grants the construction of meaning absolute priority in understanding global processes and account giving in ways that have little to do with the narrowly circumscribed senses of accounting that dominate the existing literature.

Published
2013

23. Race matters: whether we know it, or like it, or not: implicit racial attitudes and their effect on accounting-based, balanced scorecard performance evaluations

Author

Upton, David R, Arrington, Cecil E, Upton, David R, and Arrington, Cecil E

Abstract

One of the dominant themes in critical accounting theory over the past two decades has to do with the relation between the construction of human identities and accounting discourse and practices. Though with strong antecedents in Marxist –inspired critique of ideology, genealogical studies (e.g., Miller & O’Leary, 19XX), deconstructive studies (e.g., Shearer & Arrington, 19XX), and critical-rational studies (e.g., Power & Laughlin, 19XX) are examples of different theoretical and methodological ways to probe the constructive force of accounting over human identity and subjectivity. This paper offers a fourth approach grounded in social-cognitive concerns with ways in which implicit attitudes, or more broadly tacit habits of mind, enhance our tendencies to let rationally irrelevant criteria (like race, gender, and class) influence our evaluation of others. The paper reports on the results of an empirical, lab-based study of balanced scorecard evaluations and bonus allocations where race is a treatment effect and where the well-established tenets of Implicit Association Testing (IAT) are used to reveal that there are, indeed, propensities to unwillingly let racial prejudice enter into our accounting-based evaluations of others. These tendencies are more pronounced for some dimensions of the balanced scorecard than they are for others.

Published
2011

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