People & firms on the move: EisnerAmper opens new NYC headquarters
Bober Markey Fedorovich announces several hires and promotions; Friedman names co-MPS for South Jersey office; and more CPA news.
Month: December 2020
M&A can attract high-quality partner candidates
Small and midsized firms have traditionally faced stiff competition and a complex business environment. Consider the following challenges, especially over the past year: An anemic economy with very slow growth and little, if any, prospects for improvement in the near term; Political turmoil creating lots of uncertainty in the markets; Lots of predatory pressure on […]
Firms giving back: Illinois CPA Society holds 11th annual Day of Service
The Illinois CPA Society holds its 11th annual Day of Service; MSPC CPAs raises $18K for children’s hospital foundation; Santa Monica firm Gumbiner Savett collects shoe donations for a local elementary school; and the Texas Society of CPAs launches its annual Month of Service.
Bonadio debuts advisory practice to help businesses with COVID-19
The Bonadio Group has opened a strategic advisory practice to help its business clients manage through the COVID-19 pandemic. The Bonadio Strategic Advisory practice, launched last month, is helping clients deal with streamlining operations, reducing unnecessary expenditures and improving their profitability and cash flow. The Pittsford, New York-based Top 100 Firm is also helping clients […]
2020 year-end tax tips: What we do know and what we should know
For our own accounting and tax firms, as well as the client businesses we advise, we have had a year like no other. First, we had the tax-filing extension last April. Then government stimulus money was mailed out, PPP loans were made available, and the forgiveness process for those loans has begun. While having all […]
IASB mulls changes in group accounting
The International Accounting Standards Board is looking into the standards for consolidated financial statements, or group accounting. The IASB circulated a request for information Wednesday as part of a post-implementation review of three of its International Financial Reporting Standards for group accounting: IFRS 10, “Consolidated Financial Statements,” IFRS 11, “Joint Arrangements,” and IFRS 12, “Disclosure […]
IFAC endorses international sustainability standard-setting board
The International Federation of Accountants reiterated its call this week for an international sustainability standards board under the purview of the International Financial Reporting Standards Foundation. The IFRS Foundation oversees the International Accounting Standards Board and the proposed international sustainability standards board would operate alongside the IASB. In September, five sustainability standard-setters — the Carbon […]
IRS: Online tax prep software will offer multi-factor authentication in 2021
The IRS, together with its Security Summit partners, promises that online tax preparation products will offer multi-factor authentication in 2021, with the goal of improving security to protect both taxpayers and tax professionals. Multi-factor authentication is a security measure that requires more than one security check to access information — for instance, a password plus […]
Last chance: COVID-19 tax breaks lapse at year-end
The twin dynamics of expiring COVID-19 relief and a transition to a new presidential administration are making the end of this year a turbo-charged version of the usual rush by businesses and households alike to lock in tax reductions. With President-elect Joe Biden aiming to raise a number of levies, now is the time to […]
Tax Fraud Blotter: Modes of secrecy
Top boss no more; wrong slide of the law; the run’s over; and other highlights of recent tax cases. Houston: Hitesh Madhubhai Patel, a.k.a. Hitesh Hinglaj, 44, of Ahmedabad, India, has been sentenced to 20 years in prison for his role in operating and funding India-based call centers that defrauded U.S. victims out of millions. […]
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