March 14, 2013
The American Institute of CPAs Private Companies Practice Section released the results of its 2012 PCPS Succession Survey not long ago, and it provides us with data from nearly 1,000 firms across the U.S. on how they are dealing (or not) with succession.
March 13, 2013
The Internal Revenue Service has found that changes in Form 8863, Education Credits, are delaying more than 600,000 tax returns, many of which appear to come from H&R Block.
March 12, 2013
The IRS recently made it clear that even if taxpayers engage a third party to perform a cost segregation analysis, they cannot avoid penalties for aggressive positions taken in the cost segregation report.
March 7, 2013
Like most of you, Ive already experienced my fair share of stress this busy season, and it has barely begun. In addition to the shortened filing period, many practitioners are facing significant software glitches. Those are tough challenges for firms like my own, which consists of myself, a seasonal employee and an administrative person.
March 7, 2013
Worker classification has long been an area only vaguely understood by many employers. The law is not only not settled, its unclear, going all the way back to the common law of England.
March 6, 2013
Taxes are increasingly spreading beyond national and state borders to make more of a global impact, affecting economic activity across the world.
March 4, 2013
I recently had the interesting task of facilitating a group discussion on the topic of mentoring programs among representatives of CPA firms throughout the U.S. The participants were members of the Human Resources Practice Group of BKR International, an association that has more than 150 independent accounting and business advisory firms worldwide.
March 1, 2013
The number one concern of leading business tax executives for the year ahead is that in light of the current political and fiscal environment, Congress will enact revenue offsets to fund other legislative initiatives rather than make the U.S. tax system more competitive.
February 28, 2013
Will Rogers has been quoted as saying, The only difference between death and taxes is that death doesnt get worse every time Congress meets. Earlier this year, Congress passed the American Taxpayer Relief Act of 2012, which may have prevented us from falling off the fiscal cliff, but further complicated the already complex world of income taxation of estates and trusts.
February 27, 2013
Less than two months ago Washington escaped from the doomsday scenario of the looming fiscal cliff. Now it faces the threat of the less colorfully named sequester or sequestration, depending on whos talking about it, but somehow the dire warnings of impending disaster are beginning to sound unconvincing.
February 26, 2013
It doesnt matter if you are an accountant, attorney, banker, entrepreneur or in which business, company, industry or profession you toil.
February 25, 2013
For years, youve been hearing that you should include financial services among your tax or accounting practices service offerings.
February 22, 2013
As Presidents Day Week winds down, it seems logical to pay a little attention to Presidents Washington and Lincoln, especially their wisdom and the positions they held on a number of the issues they faced in their time.
February 21, 2013
CPAs have long been sought after as Centers of Influence, or COIs, by members of the financial services profession for many years.
February 20, 2013
In my consulting activity the last few months of 2012, I saw the emerging symptoms of a new disorder in many family business owners: Post-Traumatic Gift Disorder, or PTGD.
February 15, 2013
There is no doubt that the current U.S. Tax Code needs to be seriously reformed. It has grown to become a convoluted mess.
February 15, 2013
Last time I played the slots, I lost a small sum of money. But for several accountants and tax lawyers, playing with slots could have cost them significant fines and incarceration.
February 14, 2013
U.S. Tax Court Judge Elizabeth Paris handed the taxpayers a victory last Thursday involving a powerful estate tax planning tool: private annuities.
February 13, 2013
The question of outsourcing or hiring to meet your firms marketing needs depends on a variety of factors. And the answer may vary at different times even within the same firm.
February 12, 2013
Seven in 10 business owners in the United States expect to exit their company in the next 10 years, according to research from SellabilityScore.com. When we asked business owners who they would turn to for advice on selling, 64 percent said they would seek the advice of their accountant, thus ranking the CPA as the most trusted professional among all of the advisor categories we measured.
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May 24, 2013
Guests at the Meet the Editors dinner at Keens Steakhouse in New York give their assessments of the many opportunities available to accountants for growing their practices.
May 22, 2013
Attendees at Accounting Today's Meet the Editors Dinner at Keens Steakhouse in New York discuss the top issues confronting accountants.
May 21, 2013
A continued conversation with Marcums Nanette Lee Miller and Janis Cowhey McDonagh about the obstacles women in the accounting profession face when trying to make their way into leadership positions.
May 22, 2013
The IRS recently released statistics covering the year to May 10, 2013.
May 5, 2013
The AICPA's annual list of IT priorities for accounting firms.
April 30, 2013
Our monthly collection of statistics from the world of tax.
April 29, 2013
Help your clients avoid these common pitfalls.
April 23, 2013
These five bad habits can make your confidential information -- and that of your clients -- easy to steal.