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WithumSmith+Brown holds seventh annual Week of Caring Top 100 firm WithumSmith+Brown recently saw team members volunteer at local charitable organizations as part of its annual Week of Caring program. The initiative benefits local charitable organizations across the seven states that Withum serves. “This is our favorite outreach event of the year because giving back to […]
The Internal Revenue Service provided initial guidance Friday on a provision of last December’s tax overhaul enabling qualified employees of private corporations to defer paying income taxes for up to five years on the value of qualified stock options and restricted stock units granted by their employers. However, the provision of the Tax Cuts and […]
Heather Murphy-Walker has joined the New York City office of WithumSmith+Brown as business development executive, spearheading all office-growth initiatives and serving as the conduit for the firm’s client base. The American Institute of CPAs announced the 24 recipients of its Two-Year Transfer Scholarship for students transferring from a two-year college to a four-year college to […]
KPMG has introduced KPMG Spark, a tax and accounting technology service aimed at small and midsized businesses. The online service stems from KPMG’s acquisition last summer of Bookly, a company whose technology provided cash-basis accounting for small businesses. KPMG Spark expands upon Bookly’s technology by offering tax services to help businesses comply with the Tax […]
A new study suggests companies are manipulating their cash flow and accruals to boost their ratings with credit agencies and lower their interest rates on borrowing. The study, by Xia (Eliza) Zhang of the University of Washington, Tacoma, looks at performance pricing, under which banks reset interest rates based on the creditworthiness of a borrower, […]
From audits to firm structure, accountants need to start disrupting most aspects of their profession, or they risk being left behind, according to American Institute of CPAs president and CEO Barry Melancon. In a keynote address on the state of the accounting profession at last week’s Digital CPA conference in Washington, D.C., Melancon told attendees, […]
The Internal Revenue Service’s recent proposal to extend gift and estate tax exemptions beyond 2025 could spur some large transfers of wealth. Image: Bloomberg News Last month, the IRS and the Treasury Department issued proposed regulations saying individuals who take advantage of the increased gift and estate tax exclusion amounts in effect from 2018 to […]
There are several things I find curious about small and midsized CPA firms. Why do so few firms share information about average partner compensation, or the high/low range of partner compensation, with their staff members, or at a minimum, potential partner candidates? Why don’t more firms share with their staff what it takes to become […]
In most cases, the demolition of a structure to facilitate construction of a new building increases the land value. Not only does the cost of demolition increase the value of the land, but also the remaining basis of the building must be added to the land value at the time of demolition. There are limited […]
Private sector employers added 179,000 jobs in November, according to payroll giant ADP, as the pace of hiring slackened somewhat at large companies despite corporate tax cuts earlier this year. Small businesses added 46,000 jobs last month, including 13,000 in businesses with between one and 19 employees, and 33,000 in businesses with between 20 and […]
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