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Leaders of the Senate Finance Committee said they were “taken aback” to find out the Internal Revenue Service has recently signed a $7.25 million contract with Equifax for verifying taxpayer identities after the company admitted to a massive data breach exposing the personal information of approximately half of all Americans. Senate Finance Committee chairman Orrin […]
Taxpayers who have decided to convert a traditional IRA into a Roth IRA may be wondering if they should take the plunge now and pay tax on the conversion this year, or wait till next year when tax rates may be lower under the reform plan Congress will reportedly consider this fall. Fortunately, those sold […]
Illinois firm Scheffel Boyle recently held its annual “Scheffel Boyle Shares” project, in which their offices are asked to give back to the communities they serve. This year’s theme centered around a “Write-Off Hunger” food drive, which ultimately saw over 5,500 food items donated to local pantries and organizations. “As a local business, it’s our […]
Excerpted with permission from Tech Roadmap: Selecting the Ideal Solutions to Thrive in Business Advising. Most accounting and business advisory professionals know that industry-leading firms rely heavily on technology to grow their businesses. But where does a firm start in evaluating technology? Experts suggest that firms cannot select new technology effectively without first examining their […]
The Halloween tax; death during dishonor; define ‘gambler’; and other highlights from our favorite tax bloggers. Timely advice TurboTax (http://Blog.turbotax.intuit.com): Filing’s still more than half a year — and another heap of holidays — away, but here’s what to tell them about fall energy-efficient home improvements that can save money at tax time. John R. […]
The Financial Accounting Standards Board published a proposed accounting standards update Tuesday to clarify and get rid of some specific inconsistencies in key parts of GAAP. The proposals cover several areas of the FASB Accounting Standards Codification and apply to a variety of organizations, including public companies, private companies and nonprofits. Some of the main […]
In a litigious society, even the most trusted advisors in the public realm face a chance of being sued by their clients. “There’s always that misunderstanding between the CPA and the client as to the level of service being provided,” observed David McKay, audit partner and assurance practice leader at Edelstein Co. LLP, and formerly […]
Spring2 Technologies, a Utah-based technology consulting firm specializing in NetSuite, has joined CPA firm Eide Bailly LLP in a merger, the terms of which have not been disclosed. The partnership grows Eide Bailly’s NetSuite practice, and brings Spring2’s Microsoft Dynamics expertise to the table as well. Eide Bailly has three offices in Utah — Salt […]
In many firms the reality is that most partners below the “dictator” at the top are treated as employees—maybe a little more respectfully, but still as employees. This is especially so for the newer partners. Keep in mind there are exceptions, and I am expressing what I have seen as a general, and not universal, […]
Intuit QuickBooks has added an apps tab within QuickBooks Online Accountant. Users can add apps directly to clients’ QuickBooks Online and their own firm’s free version of QuickBooks. Accountants can also help clients find the right app stack for their specific needs through the solutions available via the tab. Once an app is selected, books […]
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