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The estate of the late award-winning singer and actress Whitney Houston has reportedly reached a deal with the Internal Revenue Service to pay $2,275,366 in taxes, far less than the $11.7 million the IRS said it was owed. Houston’s estate and the IRS have been battling over the value of her royalties, residuals and image. […]
Over 120 members of the New Jersey Society of CPAs recently met with approximately 3,500 high school students across the state to showcase the benefits of a career in the accounting profession, the organization announced this week. Professionals gave in-depth presentations at over 117 local high schools as part of the society’s “CPA Career Awareness” […]
The Financial Accounting Standards Board is proposing a new accounting standards update to reduce the costs of the new lease accounting standard and make implementing it a little easier. The proposed update would simplify some of the transition requirements and offer lessors a practical expedient for separating nonlease components from lease components. The changes would […]
Here’s a conversation I have had more than once. A principal in an accounting partnership wants to see some firm growth. But when we start talking about measurable digital strategy, I often hear the same argument. Their existing customers, they say, came from relationships, not the internet. If that’s how you are thinking, 2018 is […]
Auditing fees kept up their steady pace of increase over the past six years, according to a new report, climbing from $7.6 billion in 2010 to $9.2 billion in 2016. The ratio of audit fees over revenue also grew to $541 per $1 million of revenue, according to the report, from the research firm Audit […]
Client engagement software developer Liscio has released a new app called FrontDesk that tackles traditionally paper-based front-office tasks like updating client demographic information or collecting signatures for engagement letters or document pick up. The app is a companion to Liscio’s broader client experience platform, which was launched by industry thought leader Darren Root and his […]
Morgan Stanley said it will take a roughly $1.25 billion hit to earnings in the fourth quarter, becoming the latest bank to detail how profit will be hurt in the near term by the U.S. tax overhaul driven by President Donald Trump. The drag on net income consists of a charge of about $1.4 billion, […]
Registration is now open for Accountex USA 2018, and for the first time, access to the conference is free of charge. The annual event, which features technology vendor exhibits, and sessions on a variety of topics with the opportunity to earn CPE credits, will be held this year from August 22-23 in Boston. “Technology is […]
The American Institute of CPAs announced on Thursday that it is ready to launch new technology for the Uniform CPA Examination, aiming to give test-takers a more modern user interface and exam tools. Effective April 1, 2018 at Prometric test centers around the world, the AICPA’s updates look to recreate true-to-life CPA situations and environments […]
Private sector employers added 250,000 jobs last month, according to payroll giant ADP, as businesses took advantage of the roaring economy and the prospect of tax cuts in the New Year. Small businesses added 94,000 jobs in December, including 43,000 at businesses with between one and 19 employees, and 51,000 at companies with between 20 […]
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