AARP will tell you that more than half of American workers plan to continue working in retirement. Their reasons vary, from the desire for added income to simply staying active. And then there’s the “sense of purpose” work provides. We commit much of our lives to our careers, so it’s
You’ve spent months or even years developing the product or service of your dreams. You’ve brought it to market, hired a team, and found your niche. Sales are strong and life is good. But have you really given the most important thing its due consideration? Shutterstock As a founder or
Time was, finding qualified staff or handling a data security breach were accountants’ biggest concerns. But difficulties in working with a resource-challenged IRS have become a more pressing concern for CPA firms over the past year. In some ways, this should be of little surprise to practitioners and the last
The American Institute of CPAs and the National Association of State Boards of Accountancy are laying the groundwork for a major overhaul of the CPA exam that will see material being rearranged and moving to new sections, while emphasizing more technology skills. The AICPA released an exposure draft earlier this
Just joining us? The first three parts discussed IRS administrative rulings and court cases on whether write-offs for business expenses comply with the “ordinary and necessary” requirements imposed by Code Section 162. More on those kinds of requirements in part four, as well as a fascinating Tax Court case. Tax
CPAs should use these strategies to build value creation, a vital element of success, into their daily routines. You may not think of it this way, but you spend a lot of time evaluating the value of items and services. Whether you shop at traditional brick-and-mortar retail stores or online,
Partnerships in the accounting profession are a hot topic these days, given the rise of new and improved applications, there are more opportunities for accountants to work with these companies to help them educate other professionals, too. A large number of these programs also offer a partner program. Affiliate partner programs,
Today’s CPAs must reach beyond technical training to protect their relevance and position themselves for long-term career success as client and company demands change. It’s no secret that effective technical training is the basis for a CPA’s success. Most public accounting firms and public and private companies, regardless of size,
One of the relatively recent deduction limitation rules we find of interest to tax planners is Section 163(j)’s rules now limiting business interest deductions. Our topic is not crediting foreign taxes, but one of the concepts there deals with whether the foreign tax is an income tax. (See T.D. 9959,
“Retirement planning” sounds like industry jargon. The term is used so often, clients tend to tune you out. Try repositioning the goal as financial independence. When clients think of retirement planning, it’s often in terms of something that happens at age 65 or 70. They go onto Medicare. They collect