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Nobody likes to be placed on the defensive, but that’s the position in which CPAs in a malpractice suit find themselves. And it’s worse than most would imagine, according to Bill Thompson, president of CPA Mutual. “Most people don’t realize the time it takes to settle a large suit,” he said. “It typically takes four […]
Most firms and companies are focusing on how they can be more innovative and creative, especially in the areas of automation and value-added process improvement. The story and how you frame the innovation may be more important than the innovation. Remember that most innovation starts as a bad idea, especially to those it is going […]
Amid all the worries about staffing shortages and succession issues; amid the din of doomsayers prophesying disintermediation by blockchain, artificial intelligence or worse; amid the clamor of ever-more demanding staff and clients; amid the tightening competition from within the profession and without; amid the endless pressure to keep up with changes that keep coming faster […]
A client recently shared a story about a magical desert oasis where apricot trees flourished and merchants harvested the abundant, low-hanging fruit weighing down the low tree branches. One day a new merchant appeared. He was an ambitious young man who started climbing the trees, seeking and harvesting the higher apricots. The older merchants mocked […]
BX3, a business advisory firm focusing on the blockchain and cryptocurrency industry, has joined the Accounting Blockchain Coalition, a group dedicated to educating businesses and organizations on accounting matters relevant to digital assets and distributed ledger technology, including blockchain. Issues surrounding cryptocurrency have come to the forefront as more individual and business clients seek help […]
Deluxe Corporation creates e-check app for QBO Deluxe Corp., a check printing company that also provides small-business branding services like website building and logo design, has released a new free app for QuickBooks Online. The app allows users to write e-checks the same way they create paper checks, but online. These e-checks are not the […]
The Internal Revenue Service needs to improve its procedures to prevent the fraudulent use of third-party authorization forms, such as power of attorney filings, to obtain taxpayer information, according to a new report. The report, from the Treasury Inspector General for Tax Administration, evaluated the IRS’s controls when authenticating requests from individuals who try to […]
The Connecticut Department of Revenue Services released guidance this week on the recently enacted Pass-Through Entity Tax Credit, which state lawmakers approved this spring as a way to get around limits in the new federal tax law on state and local tax deductions. Connecticut Governor Dannel Malloy Connecticut Governor Dannel Malloy signed the law at […]
President Donald Trump said he’s considering a capital gains tax break by issuing a regulation that would index gains to inflation. “I’m thinking about it,” Trump said Thursday in an Oval Office interview with Bloomberg News. In the wide-ranging interview he also expressed support for Fed Chairman Jerome Powell and said embattled Attorney General Jeff […]
The staffing company Robert Half has released its annual salary guide for accounting and finance employees. The 2019 Robert Half Salary Guide for Accounting and Finance Professionals includes starting salary ranges for more than 190 positions and insight into emerging trends. In addition to accounting and finance employees, Robert Half also released separate salary guides […]
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