With apps being used more than ever in accounting, these professionals have a chance to take some control over where technology and vendor relations go. Accounting technology has been at an inflection point before, but not quite at the level it’s at now. Some in practice can think back to
IRS Collections is an enigma and a different kind of animal from the rest of the IRS. There are hard and fast deadlines that must be met or the taxpayer can lose their rights. What typically happens is that you acquire a collections client when these deadlines have passed. To
The International Sustainability Standards Board hopes to establish a comprehensive “global baseline” of sustainability disclosures and described some broad steps Wednesday to achieve it by the end of the year. Establishing a global baseline would reduce the fragmentation of sustainability disclosure requirements, according to the ISSB, and lessen the costs
There could be a number of reasons why your business clients may want to add new members to their LLC. Perhaps they need funds and have decided to bring on additional owners for their financial investment. Maybe they want to expand their LLC’s services and feel the best way to
If you’re just joining us, go back to the first three columns in this series. There, you’ll find an overview of the basics of Form 1040-X, Amended U.S. Individual Income Tax Return, formerly Form 1040X. I also offered advice on how to submit a 1040-X. The Internal Revenue Service sets deadlines for filing
Women in accounting and bookkeeping often don’t feel seen or heard due to bias in the workplace, but a new generation has emerged, and they’re eliminating antiquated views about the value of the work they do. The first step toward changing the perception of bookkeeping is shifting opinions outside of
The International Public Sector Accounting Standards Board issued a consultation paper on natural resources on Monday to consider various issues relating to recognition, measurement and presentation of natural resources by public sector entities. The move comes amid growing interest in the accounting profession in environmental, social and governance reporting. While
The word “inflation” has returned to people’s vocabulary. Your client probably feels the impact when they shop for groceries; everything seems to cost more. Meanwhile, the rate of return on their money market account or bank Certificates of Deposit doesn’t keep pace with the price increases they are seeing. Is
If you remember “The Spirit of Accounting,” perhaps you’re as surprised as I am to see it published again. If you don’t recall, this column appeared in almost every Accounting Today issue from 1996 to 2016, consistently challenging leaders and practitioners to improve our collective contributions to our society and
Maximizing investments is a goal for every investor and if you want to help your clients realize a better net after-tax, these tips can help. Realizing better net after-tax returns is possible with the right strategic approach. 1. Review and Update Asset Location and Allocation Clients want to save money