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On 6/1/22, the IRS made available an update to the “Cost Segregation Audit Techniques Guide” (Publication 5653). Originally issued in 2004, the purpose of the Audit Techniques Guide (ATG) was to offer guidance to IRS auditors auditing cost segregation studies. Because the ATG is an interpretation of the law, as opposed to the law itself, it cannot be cited as precedent.
As we say goodbye to this year’s ‘Scaling New Heights,’ Liz Scott looks at the conference’s common goals, technology solutions, education, and even germs.
Since the pandemic’s arrival, advisors have carried the weight of small business survival on their shoulders. But now, we’re entering a new chapter in our nation’s pandemic journey. Although challenges lie ahead, opportunities for growth, innovation and human connection are all within reach. This is why, after a two-year hiatus, we couldn’t be more excited to enter this new era with a celebration.
In the climb from contributor to leader, the rules quietly change. But if you’re aiming for the summit, the air gets thinner, and what got you here won’t be enough to get you to the top. 🗻 What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
When you run a business, bookkeeping is the minimum. Bookkeeping is compliance work. The IRS wants you to comply by having good books and records to substantiate the amounts you put on your business tax return. Banks want you to comply to loan covenants if you have a bank loan with them. To run a business doing more than the minimum is required. Bookkeeping only for compliance purposes is a mistake.
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