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The American Institute of CPAs’ Auditing Standards Board is proposing revisions in the standards for attestation engagements. The AICPA ASB exposed for public comment Wednesday a proposed Statement on Standards for Attestation Engagements, Revisions to Statement on Standards for Attestation Engagements No. 18: Clarification and Recodification. It would supersede AT-C section 105, Concepts Common to […]
Tungsten Network, which provides supply chain automation technology, has debuted its e-billing product for accounts receivable (AR) departments. Tungsten Network e-billing is designed to allow AR departments to send 100 percent of their outbound invoices through a single service provider, and have them delivered in the preferred format of the recipient, regardless of whether their […]
This article covers the tax rules that apply when taxpayers dispose of (by selling or exchanging) vacation homes, along with some planning moves. Part 1 is available here. Tax-free sale of vacation home In many cases, the profitable sale of a vacation home will result in a tax-favored capital gain, although the gain will be […]
Accounting, like many professions, is experiencing a shrinking talent pool as boomers retire and younger generations are opting for other careers. I recently received a call from a public accounting firm whose client was struggling to find the right candidate for a corporate accounting position. They needed someone who had the experience necessary to help […]
The Internal Revenue Service spent nearly $380 million to implement the Foreign Account Tax Compliance Act, but so far isn’t prepared to enforce the law, according to a new report. The report, from the Treasury Inspector General for Tax Administration, examined the IRS’s efforts to implement FATCA, which was included as part of the HIRE […]
Being available is essential for maintaining and strengthening relationships with clients…and everyone else you interact with professionally. Yet I know many colleagues who do not understand this and when I ask them why not, they always have an excuse. Either it is summer and too hot, or too many people are on vacations, or they […]
Squire Company, P.C. has merged in Pinnock, Robbins, Posey Richins, P.C., in Utah, effective July 1. Squire is located in Orem, Utah, while PRPR is in downtown Salt Lake City. Financial details were not disclosed. Squire ranked 8th on Accounting Today’s Regional Leaders list for the Top Firms in the Mountain region, with $18.77 million […]
Despite the uptick in interest rates, an improved economy may lead to a resurgence of interest in vacation or second homes. These properties offer a chance to provide the family with a place to rest and relax at a reduced cost when compared to expensive short-term resort rentals, and at the same time give owners […]
Fishbowl offers free inventory management software for QBO Fishbowl, which provides manufacturing and inventory management software for QuickBooks, has released Boxstorm Forever Free. The software is a free, cloud-based inventory management solution for QuickBooks Online, targeted at small and midsized businesses and designed to automate inventory management completely. Boxstorm Forever Free is unrestricted, which means […]
Chris Geier, the CEO and managing partner of Sikich LLP, a Top 100 Firm, has been watching what is going on at Deloitte and wondering whether the next CEO will be a CPA like Deloitte’s current chief executive, Cathy Engelbert. The Deloitte board recently informed its partners that Engelbert, who is the first female CEO […]
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