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Grant Thornton CEO Mike McGuire is moving his firm to become a more streamlined organization better able to respond to technological change than the Big Four, similar to the way Tesla has challenged the Big Three automakers. “We’re focusing on continuing to build our brand,” he told Accounting Today. “We’ve made significant investments in our […]
House Speaker Paul Ryan said Friday that Republicans will include a fourth income tax bracket in their tax-overhaul plan so that top earners “do not see a big rate cut.” “This is about the people, about half of which in this country are living paycheck to paycheck, and giving them a break on their taxes,” […]
The IRS has released on its website a number of draft tax forms and instructions for the 2017 tax year, including Form 1040 and its related schedules. This article, which appears in two parts, highlights key changes made on the 2017 return. The first part examines the draft Form 1040 itself. Part II will cover […]
Cherry Bekaert LLP has named Michelle L. Thompson as the Top 100 Firm’s managing partner and CEO, succeeding Howard Kies, who has helmed the firm for 27 years, on May 1. She will be one of three women currently leading one of the 25 largest accounting firms. Thompson will be joining the small group of […]
The IRS has unveiled the tax year 2018 annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules and other tax changes. The adjustments include: The standard deduction for married filing jointly rises to $13,000 for tax year 2018, up $300 from the prior year. For single taxpayers and married individuals […]
Are you one of the hundreds of California CPAs who were cited and fined by the California Board of Accountancy for failure to comply with a regulation that added new fingerprinting rules? Are you one of the thousands of California CPAs who incurred the costs of duplicative, retroactive live scan fingerprinting under the threat of […]
“Pride of ownership” doesn’t have to involve literal ownership: Many of the Best Firms to Work For give their employees a metaphorical stake by letting them participate in the management and strategic direction of the firm. Most commonly this involves including non-partner staff on committees responsible for specific areas; the trick is to make sure […]
The recent string of devastating hurricanes and wildfires in the U.S. and its territories has prompted questions about financial reporting by companies striving to recover from natural disasters while wrestling with their insurance companies over damage claims. “We do see a number of questions that typically come in when you have events occur,” said Dennis […]
Senate Finance Chairman Orrin Hatch emerged from a bipartisan meeting with President Donald Trump saying there’s a chance that a bipartisan tax bill could emerge from his committee. “It was a very Kumbaya meeting,” said Senator John Thune, the chamber’s third-ranking GOP leader and a member of the tax-writing finance panel. The president told Democrats […]
Dan Bricklin and Bob Frankston, the developers of VisiCalc, the first spreadsheet software program, commemorated an unofficial event known as National Spreadsheet Day on Tuesday. The event was hosted by Centage, a provider of cloud-based budgeting and forecasting software, and streamed on Facebook Live. Bricklin recalled how he came up with the idea for VisiCalc […]
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