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Accounting is an age-old profession. CPA firms still leverage the proven practices and processes that have been developed and refined after decades of trial and error, risk/benefit calculations, and business modeling exercises. And yet, the rapid pace of technology innovation and its impact on the accounting industry cannot be ignored. Disruption to business models, operations, […]
Traditional CPA firms are facing extreme financial pressure to pay staff and partners a competitive salary. Expenses are rising, competition is fierce, and margins tend to be shrinking. Over the years, firms have expanded into various management and technology consulting areas as well as financial services to address the issue. Firms have had great success […]
Like many things, accounting performed on computers has come a long way in the last 50 years, especially recently. While many firms and clients are still using desktops, an increasing number are using those PCs to connect with applications and storage located elsewhere. And the exact location of this “elsewhere” has become less important than […]
The IRS has issued guidance on deducting expenses under Section 179(a) and on deducting depreciation under Section 168(g). These rules, in Revenue Procedure 2019-08 and as amended by the Tax Cut and Jobs Act, generally apply to tax years beginning after 2017. Sec. 179 allows taxpayers to deduct the cost of certain property as an […]
Members of the New Jersey Society of CPAs offered personal stories and career advice to over 3,000 local high school students as part if its “Career Awareness Program.” Speakers visited 115 high schools across the state. Attendees heard personal stories on how members became CPAs, as well as the numerous career opportunities that exist for […]
Treasury Secretary Steven Mnuchin attempted to salve worries about the federal government’s partial shutdown amid concerns about a tanking stock market and the start of tax season. “We continue to see strong economic growth in the U.S. economy with robust activity from consumers and business,” Mnuchin said in a statement Sunday. “With the government shutdown, […]
While electronic payments in the business world have certainly been on the rise in recent years, 2019 will see a big uptick in adoption. The consumer payments space has already embraced electronic payments in favor or cash and checks widely; but now, according to a Bill.com survey, businesses are catching up. Respondents to the survey, […]
A benefit of writing these columns is the emails and calls I get from colleagues who share what they are doing. Here are some of their comments: • Remaining small makes it easier to control my staff and know what they are always doing. • Because I always know what my staff are doing, I […]
PKF O’Connor Davies, New York, announced the establishment of a formal governance committee, supporting the firm’s commitment to high standards of quality and objectivity, and with duties that include recommending members for the executive committee and advising committee members. The committee will lead by partner Thomas Blaney, serving as chair. Friedman, New York, launched a […]
CLA donates nearly 500 children’s bicycles and helmets Just in time for the holidays, Top 100 Firm CliftonLarsonAllen has donated nearly 500 children’s bicycles and helmets across its 110 offices throughout the country via Toys for Tots and other charitable organizations. “CLA exists to create opportunities for our clients, our people and our communities. We […]
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