The CFA Institute has created a voluntary Diversity, Equity and Inclusion Code for the Investment Profession in the United States and Canada as financial firms wrestle with expanding a more diverse workforce. The DEI Code, launched Thursday by the group of Chartered Financial Analysts, aims to encourage greater commitment from
The Institute of Management Accountants released a guide to the steps that businesses can take to cut carbon and other greenhouse gas emissions in their operations under the leadership of accountants. The report discusses how management accountants can lend their expertise to decision-making and drive performance toward milestones in reducing
As the CEO and founder of 1st Step Accounting, I am motivated by technology. Ever since I can remember, I have been inspired by some sort of technology. Whether it was a videogame console like the Nintendo or my first Macintosh computer that plugged into the TV, this technology gave
Unless your new business clients come from an accounting or bookkeeping background, they’re not likely familiar with accounting software or terminology. Unfortunately, they often cannot afford to pay for even our most basic services. And, even though we want to help them, we have to keep our own workloads and
The IRS often challenges deductions claimed for business use of a vehicle. And as shown in a new Tax Court case, it pays for your clients to document this activity well. For starters, taxpayers may deduct their actual business-related vehicle expenses or use the standard mileage rate. For 2022, the
The Spousal Lifetime Access Trust (SLAT) is one estate planning tool that accountants and financial planners can use to address the issue for their high-net-worth clients. A SLAT is an irrevocable trust created during a married settlor’s lifetime. The SLAT allows a married settlor to remove assets from her estate,
Small business clients have particular needs, and Ignatius L. Jackson, CPA, is here to help. Jackson, a CPA based in Tempe, Arizona, specializes in small business accounting services, such as compilations, bookkeeping and tax preparation. Although Jackson has worked with companies of all sizes and across several industries, he enjoys
If you’re just joining us, the first two parts in this series explained how ownership of conventional single-family dwellings differs from ownership of condominiums or co-op apartments and how an owner of a co-op can build up the adjusted basis for her apartment. This article, part three, will explain why
Today’s tax practitioners are burned out like never before and their services continue to be seen as commodities by most of their clients. Tax season was bad enough before the pandemic. It has always been a siloed practice area within traditional CPA firms and required preparers to rely on workpaper
The request was sent by Senator Elizabeth Warren and Representative Pramila Jayapal after a New York Times report on the revolving door between the department and the biggest accounting firms.