Everyone is feeling the effects of higher inflation. Forbes reports even during the low-inflation environment pre-pandemic, the cost of a four-year college education was increasing at twice the rate of inflation. Put another way, between 1985/86 to 2017/18, tuition rose by 497 percent. If your client’s child attends college, it
Is the shuttering of expense management app maker ClearSpend a sign the space is ready for consolidation or just an unfortunate circumstance? In my career, I’ve covered the rise and fall of many industries, beginning with the dotcom bubble. One thing that period taught me is that technology markets tend
While the LGBTQIA+ community and supporters view many advancements as slam-dunk decisions, things often play out differently in the public sphere. To achieve progress requires continued support politically, legally, and economically. Tax planning for the LGBTQIA+ community is necessary, with the potential to amend prior year income tax returns to
If your firm is not thinking through revenue goals for each of your service lines before setting them, it can be challenging to hit them. More importantly, if you’re looking for a process your accounting firm can use to set smarter, more achievable revenue goals, this eight-step process is a
Is a settlement of a malpractice claim against physicians or a hospital considered to be taxable income? In short, it depends, but according to a recent Tax Court and Ninth Circuit Appeals Court case, it can be. Let’s dig in… Background: Generally, legal awards and settlements are subject to federal
Communication has gotten so much more complex as there are so many channels now, it’s difficult to manage smartly with clients. In all the conversations we have every day, they come from a variety of sources, not only people but from different channels. Having all these loose threads running around,
Throughout most parts of the country, homeowners who unloaded their dwellings have reason to celebrate. They have benefitted from surges in housing values, particularly since the onset of the pandemic in early 2020. Surges, though, provide only cold comfort for wannabe sellers who owe more on their mortgages than their
Russia’s Feb. 24 invasion of the sovereign nation of Ukraine generated an extraordinarily broad international response in opposition to its aggression. However, unlike past conflicts, this response, led by the United States and its allies, has focused on crippling the Russian economy through tough sanctions as opposed to direct military
As cybercriminals ramp up the volume of attacks in the financial services sector, accounting firms are not immune. Below are several key steps your firm can take today to help prevent and stay ahead of the most common cybersecurity threats. Maintain Your Reputation Trust is a core component of the
As a tax preparer, the primary issue to avoid down the road is whether you were “unreasonable” on a day you signed a return. Our emphasis is debatable return positions, but our preparer penalty topic has many aspects, such as failure to furnish a copy, failure to sign, failure