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Tax preparers deal a lot in numbers. So, it seems, do some prospects. “I didn’t achieve the knowledge and experience I have to be the lowest cost provider in the business,” said Bruce Primeau, a CPA and president at Summit Wealth Advocates, in Prior Lake, Minnesota. “The cost of my services, in my opinion, is […]
As the profession looks ahead to a period of tremendous — and sometimes frightening — change, a little advice from accounting leaders can certainly come in handy.As part of this year’s Top 100 Most Influential People survey, Accounting Today asked, “What one thing would you recommend accountants do to prepare for the future?” Two pieces […]
CPAs and accountants are in a great position to benefit from a heightened need for certainty in the future, according to Barry Melancon, the president and CEO of the American Institute of CPAs. “When you think about our society, we’re a mess — we don’t trust politicians or businesses or the media or the Internet,” […]
Even as concerns mount that the long period of economic growth we’ve enjoyed in the U.S. is starting to slow, the real estate market — both residential and commercial — continues to expand on a nationwide basis. The upward trend in real estate volume and value, combined with the sense of lingering uncertainty about how […]
CPAs gone wrong; on the waterfront; trooper tricks; and other highlights of recent tax cases. Jacksonville, Florida: Preparer Joanna Arlean Tukes has pleaded guilty to aiding and assisting others with the filing of fraudulent tax returns. Since 2012, Tukes owned and operated a prep business where she reported false information on returns, including false claims […]
With a roast turkey signaling the way, it’s time to start thinking about the gift-giving Holidays. I’ve been testing products for a few months now, and I think I’ve come up with a few ideas on what you might give staff, clients, and if there’s anything left in your wallet, yourself. For those of you […]
Biden and the past; energy credits; ACA extension; and other highlights from our favorite tax bloggers. Office spaces Tax Vox (https://www.taxpolicycenter.org/taxvox): Ghosts of Elections Past Dept.: Democratic presidential hopeful Joe Biden proposes to raise taxes by $3.2 trillion over 10 years. Remember Walter Mondale? Bloomberg Tax (https://pro.bloombergtax.com/news-insights/): Nearly half the Senate Democratic Caucus has signed […]
The quality of corporate governance was graded at C+ at best by a group of chief audit executives, according to a new report from the Institute of Internal Auditors and the Neel Corporate Governance Center at the University of Tennessee in Knoxville. The IIA unveiled a new American Corporate Governance Index in the report Wednesday, […]
The Internal Revenue Service’s proposed regulations on the classification of cloud transactions and transactions involving digital content could mean some unexpected tax bills for some publishers, especially those based abroad who sell copyrighted articles to U.S. readers. The IRS released the proposed regulations in August and accepted comments on them until Nov. 12. However, publishers […]
The total amount of goodwill impairment recorded by U.S. public companies reached $78.9 billion in 2018, up a staggering 125 percent from the prior year, according to a new report. The 2019 U.S. Goodwill Impairment Study, released last week by Duff Phelps, examined the goodwill impairment trends of nearly 9,000 U.S. publicly traded companies from […]
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