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The House approved a repeal of the Affordable Care Act’s medical device tax, along with a bill that prohibits the IRS from rehiring any employee who was fired for misconduct. Implementation of the 2.3 percent excise tax has repeatedly been delayed by Congress ever since the passage of the ACA in 2010, in part thanks […]
One of the key changes introduced by the European Union’s General Data Protection Regulation relates to the issue of consent. To comply with GDPR rules, when dealing with data, a company must provide customers or clients with clear and easily understood requests for consent. These customers or clients must be able to easily give permission […]
Patrick T. Fallon/Bloomberg As firms across the accounting profession compete for talent, KPMG has upped the ante on the summer perks it offers its 30,000 U.S. employees. Among the rewards the Big Four firm is offering staff are $500 gift cards, a barbecue package from Omaha Steaks, summer office parties, and the opportunity to leave […]
In a case involving how expenses are allocated between corporate domestic and overseas operations, the Ninth Circuit Court of Appeals reversed on Tuesday the Tax Court’s decision, in a major win for the Internal Revenue Service against Intel’s subsidiary Altera. In the earlier decision, Altera Corp. v. Commissioner, 145 T.C. No. 3, the Tax Court […]
Liberty Tax Inc. shares climbed as much as 28 percent, the most in more than six years, after founder John Hewitt agreed to sever ties with the company and sell all of his shares following a sex scandal that had already cost him his job as chief executive officer. Hewitt will dispose of his stake […]
To improve your firm’s selling effectiveness, it often helps to look at the entire process from the eyes of the buyer. In other words, if you reverse engineer your approach by looking at things from the prospect’s point of view, you might change your approach and effectiveness. So, let’s take a look at things from […]
A group of prominent accounting firm advisors has banded together to create the CPA Firm Best Practices Network with the goal of helping firms reach a higher level of performance. The network is affiliated with the CPA Leadership Institute and Adamson Advisory. The panel of advisors includes Gary Adamson of Adamson Advisory, Joel Sinkin of […]
The Internal Revenue Service needs to strengthen its taxpayer authentication efforts to combat identity theft, according to a new report from the Government Accountability Office. The GAO noted that criminal were able to get at least $1.6 billion in 2016 by using false identities to claim tax refunds, although the IRS was able to keep […]
Ernst Young has acquired cryptocurrency technology and patents from Elevated Consciousness, a San Francisco-based startup that focuses on digital currency. EY is acquiring the technology for the Andy Crypto-Asset Accounting and Tax (CAAT) tool, which connects with multiple cryptocurrency exchanges and wallets to provide better visibility into cryptocurrency transactions and inventory. Financial terms of the […]
Growth: The difference between the disruptor and the disrupted I was once asked, “Why is growth important?” My short answer was it comes down to perspective. Do you want your firm to be relevant and be a disruptor, or do you want your firm to be irrelevant and be disrupted? Without growth, your firm will […]
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