The Internal Revenue Service said that tuition paid for two children who have been diagnosed as having disabilities caused by medical conditions including dyslexia to attend school now qualify as medical care expenses deductible under Section 213(a). The children take part in the school's program of special education, which is designed to enable them to deal with their medical handicaps and move on to study at a mainstream school. However, Ltr. Rul. 200521003 points out that overcoming the learning disabilities must be a principal reason for attending the school, and any ordinary education received must be incidental to the special education provided.
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Bassim Michael has created Practice Gauge, a cloud-based analytics platform for his fellow accountants to use with their dentistry and veterinary clients.
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Private sector employers cut 33,000 jobs in June, the first decline in over two years, while annual pay grew 4.4% year-over-year, payroll giant ADP reported.
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The Top 25 Firm plans to launch a data warehouse service for smaller organizations this year and has been using AI to develop some of its rollout strategies.
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The Internal Revenue Service's Electronic Tax Administration Advisory Committee delivered its annual recommendations.
July 2 -
Tariffs and the impact of government debt on the economy remain major concerns, according to a Grant Thornton survey.
July 2 -
North Carolina Gov. Josh Stein signed into law a bill that adds an additional pathway to CPA licensure, effective Jan. 1, 2026.
July 2