When the service professionals in different accounting firm departments are allowed to seek out and implement their own solutions, technology winds up being siloed in different service lines, which can have a seriously negative effect on the firm. Too many solutions and apps. The firm winds up with too many
Advisory services are a hot topic for accounting firms. Don’t overthink whether to offer this service – the unscheduled calls and emails you receive from clients asking for your input is proof that you already advise them. So why not build it into your service offering? According to Intuit, 74
When Form 1040 time rolls around, I receive queries from filers who made mistakes on their 1040s. They want to know how to fix their tax errors, and I tell them not to worry: Usually, they can still set things right after the fact. This series will respond to a
What if Jeff Bezos chose the accounting profession instead of starting that little online bookstore so many years ago? Although he may not have a net worth of $181 billion as he does today, the accounting industry would probably never be the same. This is due to two themes in
The challenges of running a small business are many, and among them is payroll, which can feel like a full-time job. Here, Bianca Mueller, CPB, community manager at Wagepoint, discusses the payroll challenges small businesses will face in 2022 and offers her tips on how to overcome them. Invest in
In a new case, Mihalik, C Memo 2022-36.4/13/22, a retired pilot took advantage of a special program of his former employer that provided free airline tickets on a stand-by basis. Although the value of such benefits may qualify for a tax-free statutory fringe benefit, the Tax Court refused to give
In addition to the fantastic networking opportunities and engaging content agenda you’ll find at the AccountingWEB Live Summit this May in San Diego, we also have exhibit halls filled with vendors who offer the latest technology that will solve your problems and help you work more efficiently. This week, we spoke with Swizznet
Businesses are running leaner than ever before. With smaller staff, they search for trusted financial partners who can provide solutions for their unique needs. Many accounting firms today are expanding into business valuation practices. Some companies are seeing significant growth in their operations. Others are finding it hard to attract new
A forensic audit of German real estate company Adler Group SA uncovered accounting irregularities and an opaque system of consulting fees but stopped short of alleging fraud, allowing both management and its detractors to say they were vindicated by the findings. The report by KPMG — commissioned in response to
Even before COVID-19, clients were interested in gaining more from their accountants than just tax support, and during the pandemic, they came to realize what valuable partners their accountants could be. From helping to acquire PPP loans, navigating new compliance laws and renegotiating leases to managing cash flow, accounting firms