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In late October 2012, Superstorm Sandy devastated much of the U.S. Northeastern coastline, including my Long Island neighborhood. In addition to the immediate destruction caused by high winds and flooding, power was out in much of the area for days. The utility crew that finally arrived on my street was from Wisconsin, one of many […]
WithumSmith+Brown has combined practices with the IT consulting firm Portal Solutions, expanding Withum’s array of digital services, effective May 1. The deal will also add two partners and 31 other team members to Withum, along with Portal Solutions’ two offices, in Bethesda, Maryland, and Woburn, Massachusetts. Withum has 14 offices and 900 staff members. Financial […]
Marcum LLP has merged in Meyers, Harrison Pia LLC and Meyers, Harrison Pia Valuation and Litigation Support, LLC, adding 55 partners and staff in New Haven, Conn., and Portland, Maine, to the Top 100 firm. MHP dates back to 1954 and specializes in business valuation, forensic accounting and litigation support services. The firm’s partners frequently […]
With the continued growth of the sharing economy, millions of Americans are utilizing services offered by companies such as Uber and Airbnb, and states are struggling to apply their existing tax laws to transactions for these and other new technologies. This is evidenced in Bloomberg BNA’s 2017 Survey of State Tax Departments, which shows only […]
The Securities and Exchange Commission has charged two former executives at the government contractor L3 Technologies with accounting-related violations. The SEC’s Enforcement Division alleged that David Pruitt, a former vice president of finance at L3’s Army Sustainment Division, bypassed the company’s internal accounting controls, causing L3 to improperly recognize $17.9 million in revenue from a […]
“The secret of getting ahead is getting started,” Mark Twain sagely advised. But where to start, and how, when your goal is driving revenue? I tweak this Twain-ism by advising firms to start with an understanding of which clients are contributing the most revenue, then developing a program focused squarely on the needs of those […]
Getting partners to transition toward retirement as they approach the firm’s retirement age is a problem facing many CPA firms, and its implications are far-reaching. Most firms in the Top 100 have a mandatory retirement age between age 60 and 66. Accordingly, partners within a few years of this age should be expected to begin […]
The Internal Revenue Service is accepting nominations for its IRS Advisory Council. Applications will be accepted through June 16. The IRSAC provides an organized public forum for IRS officials and representatives of the public to discuss relevant federal tax administration issues. IRSAC members submit a report to the IRS commissioner annually at a public meeting. […]
Uber and Amazon may be the models for the tax preparation process of the future, according to Keith Alessi, the former Jackson Hewitt chairman and CEO who recently joined the board of upstart tax prep franchiser Happy Tax. Alessi has also invested in Happy Tax, which was founded two years ago by CEO Mario Costanz […]
A bipartisan group of lawmakers has reintroduced the Marketplace Fairness Act in another effort to bring more consistency to the imposition of state sales and use taxes on online purchases. The act would give states the right to require out-of-state businesses selling online or via catalogs to collect state sales taxes on purchases sold into […]
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