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In the rapidly evolving landscape of the tax and accounting industry, specialization has emerged as a solid differentiator, providing firms with a distinct competitive edge. As clients’ needs become more diverse and complex, offering cookie-cutter services is no longer sufficient. Instead, firms are embracing specialization to tailor their expertise and solutions to match the unique requirements of their target clients. 1.
In what must surely be an oversight, mandatorily retired PwC Australia partner Peter van Dongen (again, great name) neglected to mention that he was forced out of the firm, saying he “agreed with PwC to bring forward my planned retirement by a few months.” AFR columnist Joe Aston writes : A month ago, embattled consultancy giant PwC announced it was booting eight partners, including Sydney-based Peter van Dongen, following an internal investigation into its tax leak scandal.
According to a plea agreement, Biden was well aware of his tax liabilities from an accountant he hired. The accountant prepared Biden's returns and sent them to him for review and signature. Despite repeated encouragement by his accountant, Biden never signed or submitted his returns.
Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
Xerocon is fast approaching: the best forum to hear about the latest innovations within Xero, get inspired and connect with other accountants and bookkeepers. Plus, with more than 70 app partners from the Xero ecosystem exhibiting at Xerocon Sydney on 23-24 August, it’s also the best opportunity you’ll have all year to connect with and learn about apps that can take your practice to the next level.
Many of our clients are heavily invested in the stock market. While we count on the brokerage statements to help us report their income correctly, it’s imperative that we have a good working knowledge of the type of income these investments produce and how to correctly report them on the tax return.
The Internal Revenue Service and the Treasury want to curb the use of some types of monetized installment sale transactions by listing them as potentially abusive tax dodges.
The Internal Revenue Service and the Treasury want to curb the use of some types of monetized installment sale transactions by listing them as potentially abusive tax dodges.
For the last two years, the American Institute of CPAs (AICPA) has diligently and consistently advocated on behalf of taxpayers and CPAs to the Internal Revenue Service (IRS) and the Department of the Treasury regarding unscrupulous third-party vendors promoting improper Employee Retention Credit (ERC) claims. The ERC, established as part of a COVID-19 relief package to aid businesses during the pandemic, has been exploited by unethical credit mills and other bad actors to submit claims on behal
The IRS is not adhering to its own internal guidelines when sending large volumes of sensitive taxpayer information to and from its tax processing centers, according to a new report from the Treasury Inspector General for Tax Administration, the watchdog entity that oversees the nation’s tax agency. Specifically, the report found that required tracking documents, such as Forms 3210, Document Transmittal, are not included with these shipments and/or not prepared properly.
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.
Intuit has released the July 2023 QuickBooks Small Business Index, which provides unparalleled insight into employment and hiring activity among the smallest of businesses in the US, Canada and UK.
These questions can be related to changes in regulatory and compliance standards , ESG , and general business advice. As a result of the explosion of new tools and software available, accounting firms have a significant opportunity to improve their reputational status through enhanced advisory service offerings. The industry is already seeing a trend toward client service expanding beyond the scope of tax reporting to stakeholder reporting, tax optimization advice, and business performance analy
Some business decisions are obvious. Others can seem like 50/50 propositions that make doing nothing a good third option. Deciding what to do about your bookkeeping, fortunately, is not a dilemma when you know what to factor into your considerations. So, how can you determine whether you would be better off with outsourced bookkeeping services or continuing it onsite at this stage of your growth?
By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) It can be frustrating when your children complain about having nothing to do — especially during the summer. So, why not hire your child or your children to work for your business? Doing so can keep them productive and teach valuable skills while potentially lowering your tax bill. However, as you probably would guess, there are important IRS rules to follow.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
This episode explores the distinctive characteristics of Philadelphia's startup community and shares invaluable human capital tips that startups and venture capitalists can leverage to drive their growth and achieve their goals.
From the Kiplinger Consumer News Service , via TNS. This list includes every back-to-school sales tax holiday this summer, from July 27, 2023, through the end of August. Rules for tax-free shopping can vary from state to state. So, just because something is tax-exempt in one state doesn’t mean it will be in another. Knowing the rules before you shop can help you save the most money.
This year has been a less-than-fun rollercoaster in the world of finance. Well, good news on that front — no more recession bogeyman lurking under the bed, at least that’s what the Fed declared as they raised rates again last week. Doesn’t mean more interest rate hikes aren’t ahead or that inflation’s fully cooled, but things appear to be balancing out.
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
By Jennifer Arbore, Partner at The Bonadio Group. Though gender equity continues to improve across corporate America, women consistently remain underrepresented in key leadership roles. For example, even though women make up more than half of the workforce in the United States, just 35% of top management positions are held by women. This gender disparity is reflected in the accounting industry, with the AICPA 2021 Trends Report revealing that women make up just 39% of partners at CPA firms in th
In an excerpt from our Workshop Wednesday Podcast, Dan DeLong and Rachel Dauchy discuss an email that has raised some questions regarding the QuickBooks Bill Pay powered by Melio. As with any communication from Intuit or QuickBooks, we first want to ensure that it is legitimate, since there are a lot of bad actors out there. We have a blog article with different ways to check to confirm a communication.
Technologists Randy Johnston and Brian Tankersley, CPA, talk with Jeff Gramlich of Validis about changes in audit technology and the role of data. Use the podcast player below to listen.
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The Dancing Accountant's Nancy McClelland joins Tax Practice News' Christine Gervais on this edition of the Accounting Insiders to discuss what makes her practice so unique.
In today's globalized business landscape, outsourcing has become a popular strategy for companies looking to streamline operations and reduce costs. One area that has seen significant outsourcing is accounting. Outsourced accounting models allow businesses to access specialized expertise, increase efficiency, and focus on core competencies. Regarding outsourced accounting, two prevalent models are offshore and onshore.
The American Institute of CPAs & Chartered Institute of Management Accountants, together as the Association of International Certified Professional Accountants, have named Melanie Lauridsen as the new Vice President for Tax Policy & Advocacy, leading the Association’s important tax advocacy mission, effective August 1, 2023. Lauridsen will represent the Association’s interests in legislative and regulatory based tax advocacy efforts, building on the foundation of her predecessor, Edward
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Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
Accounting automation software maker BlackLine, Inc. is now offering five-day implementation for midsize companies. With BlackLine 5-Day Fast Track, new customers can ‘Go live in 5’ and be up and running on BlackLine’s financial close management platform in time for their next month-end close. Midsize organizations often don’t have the time or resources to implement new accounting software.
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AvidXchange, a provider of accounts payable (AP) automation software and payment solutions for middle market businesses and their suppliers, has announced that John Feldman has been elevated to the role of Chief Operating Officer of AvidXchange, Inc. Feldman will continue to oversee the transformation of the company’s service and fulfillment operations around standardization, sourcing and automation.
Financial Times reported today that two of the people in the middle of KPMG’s 2018 PCAOB inspection cheating scandal ( extensive write-up here if you’ve been under a rock for approximately five years) are likely limping away scot-free minus any Google searches of their name being forever dominated by stories about cheating audit inspections.
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