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Client accounting services, or CAS, are one of the accounting profession’s fastest growing offerings – but they rely on a comfort and familiarity with technology that most other services don’t. This report will look at the tools the underpin a successful CAS practice, and how leading firms are building the necessary tech stacks. Register to […]
For many years, we used the description “entry-level accounting” to detail the vendor offerings in our comparison guide. These days, while we tend to use the description “basic” rather than “entry-level” accounting, it hardly adequately addresses just how far even inexpensive software has come. For the 2019 Comparison Guide, we surveyed six of the major […]
In the first significant action on tax legislation in the new Congress, the House Ways and Means Committee, on April 2, 2019, approved three bills, the Building on Reemployment Improvements to Deliver Good Employment for Workers (BRIDGE for Workers) Act (H.R. 1759), the Setting Every Community Up for Retirement Enhancement (SECURE) Act (J.R. 1994), and […]
The U.S. Securities and Exchange Commission and Public Company Accounting Oversight Board finalized 45 enforcement actions involving accountants in 2018, marking a significant decline from the 75 finalized actions involving accountants in 2017, according to a new Cornerstone Research report released Wednesday. According to the report, “Regulatory Actions Involving Accountants-2018,” the decrease in SEC actions […]
Democratic presidential candidate Pete Buttigieg and his husband earned $152,643 last year, according to income tax returns released Tuesday by the South Bend, Indiana, mayor. Buttigieg released 10 years of returns, which has become standard for many of the candidates for the Democratic nomination. He filed jointly with Chasten Glezman, whom he married in 2018, […]
The New Jersey Society of CPAs awarded more than $350,000 in scholarships to 75 local high school and college students at its 59th annual Scholarship Awards Ceremony, held at the Pines Manor in Edison on April 30, 2019. NJCPA CEO and executive director Ralph Albert Thomas More than 200 students in all applied for the […]
A Florida CPA ran aground on the hobby loss rules in a recent Tax Court case. Section 1.183-2(b) of the tax regulations provides a “non-exhaustive” list of factors used to determine whether an activity is engaged in for profit. The Tax Court applied this list to the yacht charter activity of Charles Steiner, a Florida […]
Wolters Kluwer Tax Accounting has released a “2019 Post-Filing Season Update,” available through its CCH AnswerConnect online research service. The report discusses some of the main developments this past season that are likely to affect taxpayers for the rest of the year. Among the items are tax extension filings, which appear to be on the […]
Football, baseball and taxes; audit challenges; trade shows and sales tax; and other highlights from our favorite tax bloggers. Matters of interpretation Federal Tax Crimes (http://federaltaxcrimes.blogspot.com/): A look at two cases that have sustained FBAR non-willful penalties on a per-account basis rather than per-FBAR basis. Tax, Society Culture (http://taxpol.blogspot.com/): A nice summary of a tax […]
The 2017 tax law had no discernible impact on consumer tax filing patterns or the market share of tax prep vendors, according to a new report from Moody’s Investors Service. Bloomberg News Moody’s found that approximately 56 percent of electronic filings were handled by paid providers, down just slightly from 57 percent in 2018, but […]
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