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Top 100 Firm UHY Advisors took an unusual approach to bringing some relief to busy staff members this tax season, inviting MeditationWorks, a mobile meditation space, to help its professionals mentally focus and deal with stress. Describing itself as the “Food Truck for Your Brain,” MeditationWorks brings a small, private space to businesses to help […]
The American Institute of CPAs is asking the Internal Revenue Service to amend the information it is providing to taxpayers in its Frequently Asked Questions pages about overpayments of taxes by multinational corporations on their 2017 tax returns under the new tax law. Even though that section of the tax code, known as Section 965, […]
Eli Mandel provides bookkeeping services for nonprofits, but soon he’ll be heading up a new tech company. The accountant-turned-tech developer found during his accounting career that both individuals and small businesses had similar problems when it came to budgeting — namely, they were bad at it. Eventually, he got frustrated enough to build a solution […]
More than three-quarters of the top 100 U.S. companies with the biggest lease obligations expect to see a material impact on their balance sheet from the new lease accounting standard, according to a new report. The report, from the technology company LeaseAccelerator, analyzed a recent set of Securities and Exchange Commission filings related to the […]
Sage Intacct, which makes cloud financial management solutions, has released the the new Sage Intacct Nonprofit Financial Board Book Powered by GuideStar. The dashboard pulls information from Sage Intacct to provide nonprofit organizations with insight into their financial health. GuideStar is a nonprofit information database. The dashboard designed to automate the tracking and management of […]
Taxpayers who rushed to complete Form 1040 by Tuesday’s deadline can take some comfort from the fact that they’re exceedingly unlikely to get a follow-up visit from the Internal Revenue Service. Over the past 50 years, audit rates have fallen pretty steadily. Today, the average taxpayer has one chance in 200 of getting audited. The […]
The tax rules related to meals and entertainment have changed, and left some uncertainty in the gap between the old law and the new. Before the Tax Cuts and Jobs Act, the deduction allowed for entertainment expenses was limited to 50 percent of the amount otherwise deductible. Under the TCJA, the deduction for entertainment is […]
There has been a sharp drop in the percentage of fraud cases that get handed over to law enforcement, the Association of Certified Fraud Examiners reported Tuesday. In the ACFE’s semiannual Report to the Nations, the group noted that between January 2016 and October 2017, 58 percent of cases were referred to law enforcement, down […]
FreshBooks, which makes online accounting software, and Fidelity Investments’ tech incubator Fidelity Labs, have launched the “Reshape the World” challenge, a contest for solutions that help the self-employed be more productive. As more firms develop niche apps and tools for their clients to use, this is an opportunity for those solutions to gain a wider […]
KPMG South Africa, which has faced scrutiny for its audit work on failed VBS Mutual Bank and companies linked to the politically connected Gupta family, said all staff face background checks every two years to try improve public trust in the firm. “The vetting is to be done by an external, independent party,” Wiseman Nkuhlu, […]
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