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Growing complexity in the world of tax, and corporate pressures to do more with less, are creating opportunities for accountants to bring some much-needed relief to business clients, according to leaders at Deloitte Tax LLP. “There’s been a 40 percent reduction in the corporate tax rate – but at the same time, our clients in […]
The U.S. labor market and wage growth are showing some signs of a slowdown, according to a new report by payroll giant ADP. The ADP Workforce Vitality Report for the third quarter of the year found that wages for U.S. workers grew 3.2 percent over the last year, increasing the average wage level by $0.90 […]
The U.S. House of Representatives passed a bill that would force anonymous shell companies to disclose their actual ownership. The Corporate Transparency Act would require companies to disclose their true, beneficial owners at the time the company is formed to prevent anonymous shell companies from evading law enforcement and hiding illicit activities. It passed on […]
Enterprise resource planning, treasury, finance and accounting systems for the back office haven’t changed significantly in years. While consumers are reaping the benefits of advanced technology in the form Amazon shopping recommendations, instant re-routing through traffic via Google or automated personal investment guidance — finance accounting (FA) staff are stuck with manual processes, Excel spreadsheets […]
Perception is real, so how you perceive the current situation determines your reaction and behavior (good or bad), and that reaction will greatly influence the results. Stephen Covey, the well-known author of “The 7 Habits of Highly Effective People,” calls this the See-Do-Get Paradigm. How you perceive a challenge or opportunity impacts your reaction and […]
The Financial Accounting Standards Board announced a series of workshops aimed at helping community banks and credit union with implementing the current expected credit losses standard. The workshops are 90- to 120-minute interactive sessions presented by the board’s staff in various locations around the country, often in conjunction with other professional events. They will focus […]
The problem with pyramids; costs of Medicare for All; advising on education costs; and other highlights from our favorite tax bloggers. Questionable matters Tax Girl (https://www.forbes.com/sites/kellyphillipserb/): The IRS has a new payment option in the private debt-collection program (preauthorized direct debit). But will it lead to abuse? Don’t Mess With Taxes (http://dontmesswithtaxes.typepad.com/): Using taxes to […]
Nearly 2 million taxpayer households will be impacted by expiring ITINs this year, according to the IRS. Any ITIN, a tax ID number used by taxpayers who don’t qualify to get a Social Security number, with middle digits 83, 84, 85, 86 or 87 will expire at the end of this year. In addition, any […]
Top 100 Firm Eide Bailly will be adding in Las Vegas-based CPA and business advisory firm Wallace Neumann Verville LLP, effective November 18. Financial terms of the deal were not disclosed, but WNV’s three partners and 13 staff will be moving into Eide Bailly’s existing Las Vegas office. “We’re excited for the opportunities this union […]
It’s tough to remember how much one has learned as a tax professional – until someone comes along who’s just starting out in the field. So we asked experience practitioners to share their best pearls, ranging from education to networking to business wherewithal. “Know your stuff and research what you don’t. Get a certification. Invest […]
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