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Finding quality talent that has the ability to perpetuate a small or midsized CPA firm is a big challenge, especially when firms admit new partners just because of needs as opposed to qualifications. These admissions, sometimes known as “slot shots,” are understandable, but taken to an extreme, this practice truly undermines the future of a […]
5G and the cloud; EITC refund timeframe; EideBailly; and other highlights from our favorite tax bloggers. Place your bets Taxable Talk (http://www.taxabletalk.com/): The matter of the New York State legislature and online gambling ignites a favorite opening of the week: “There’s a quick way of doing many things that, in the long-run, doesn’t work so […]
Blockchain has become a buzzword. Technology companies that have been developing blockchain applications for accountants have used the word to generate excitement (and investment), but who can blame them? That’s what tech companies have done, for time immemorial, to get their product funded and into the hands of the intended end user. In its annual […]
AICPA president and CEO Barry Melancon gave his annual update at the Accountants Club of America on Feb. 4. This was a can’t-miss program for me and likely for all of the other attendees at the sold-out breakfast. An excellent article by Michael Cohn appeared that day reporting on the presentation. However, my interest in […]
The new lease accounting standard caused lease liabilities for the average company to increase 1,475 percent, skyrocketing from $4.4 million before the transition to $68.9 million post transition, as operating leases were recorded on the balance sheet for the first time, according to a new study. The study, from the lease accounting software provider LeaseQuery, […]
Want to open Pandora’s Box? Talk to a tax professional about digital services taxes. In nearly every incarnation they have taken on, digital services taxes have proven controversial. Whether domestically, where at least half of the states in the U.S. have made waves by enacting digital provisions of some kind, to foreign governments like France […]
Taxpayers prevailed in only 23 out of 55 (41.8 percent) of the significant tax cases involving state and local taxes in the fourth quarter of 2019, and for the entire year only 83 out of 218 (38.1 percent) of the significant tax cases in 2019, according to a recent analysis. The global law firm Eversheds […]
ACCA calls for a middle ground on artificial intelligence, cryptocurrency tools for tax professionals, and more.
Mark Zuckerberg for the first time said he supports efforts to create a global digital tax that would ultimately raise the amount Facebook Inc. pays to foreign countries, in a move that may boost efforts to put a new levy in effect by year-end. The tech giant’s chief executive will tell world leaders gathered at […]
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