When a client hires a nanny, housekeeper, or senior caregiver, they have to navigate a host of tricky issues such as taxes and employment and labor laws. Whether the IRS considers a worker an independent contractor or employee has a major impact on clients’ tax reporting responsibilities, whether they need to pay overtime, and how they set up payroll.
Paying household help “under the table” with cash seems like a good idea—but doing so can deny employees social services benefits and protections. It can also rob clients from taking advantage of tax breaks and credits.
Successfully leveraging the cloud is about much more than just subscribing to online software. This report examines the strategies taken by the most successful firms, from careful planning and restructuring workflows, to learning from peers, picking the right software, and focusing on security.
Strategic trends, a shift in client preferences, and generational perceptions are rapidly transforming many industries and the accounting industry is not immune.
Smart accounting firms make employee engagement and happiness a top priority to remain competitive and retain top talent. This is especially true as the industry ushers in younger, rising stars and faces changes in workplace dynamics. The future is here — is your firm ready?
