Just joining us? We invite you to go back to part one. It focused on the tax rules for profits from sales of personal residences. Part two discussed President Biden’s proposal for long-term capital gains. He hopes Congress will replace the present top rate of 20 percent for profits from
Mergers and acquisitions can be a great way to quickly grow your accounting firm, but the strategy comes with challenges. Combining two accounting practices can easily result in many new issues that did not exist before. Operating in multiple markets, a larger and more diverse customer base, a more complex
OnPoint Audit from CPA.com and CaseWare was built to provide an efficient workflow that reduces manual data entry and redundancies and permits transparent collaboration between colleagues and their clients. Hosted on CaseWare Cloud, OnPoint Audit is the newest solution added to the OnPoint suite of audit and assurance products, offering firms
Contrary to popular thinking, “fear” isn’t the only reason accountants and bookkeepers sometimes undercharge for services. Sometimes we choose to undercharge as part of a business strategy. Sometimes we undercharge because we don’t understand our own value. And sometimes we undercharge because the sure “yes” at a lower fee is
Take a deep dive into payroll, bookkeeping, and much more. Free Book Preview Money-Smart Solopreneur This book gives you the essential guide for easy-to-follow tips and strategies to create more financial success. July 19, 2021 2 min read Disclosure: Our goal is to feature products and services that we think
The traditional way of doing IT and SOC 2 audits is going away, and it’s happening really fast, but that doesn’t mean CPA firms can’t adapt and enhance their practices, deliverables and value. Below are some tips on what’s happening and how CPAs can indeed embrace it. What’s Going on Out
Most businesses choose QuickBooks as their primary accounting solution because of its helpful features and timely updates. It has made a name for itself in the industry owing to its unparalleled innovation and easy-to-use interface. Its installation and setup are pretty easy too. However, sometimes users face an unprecedented issue
The AICPA’s Professional Ethics Executive Committee (PEEC) and Auditing Standards Board (ASB) have two different goals in their proposals on noncompliance with laws and regulations (NOCLAR), and the implications will affect all CPAs, particularly those who are in public practice and provide attest services. PEEC Proposal Having worked on its
The articles that I’ve previously done for AccountingWEB all focus on various aspects of federal income taxes. This one doesn’t; it focuses on New York City income taxes. Why did I decide to replace federal levies with local levies? Because the New York Times for July 2, 2021, displayed this
The Biden administration’s proposals reflected in the “Green Book” include significant revisions in the self-employment tax rules. Here’s what you need to know about what could be coming if these changes take effect. Overview of Current Rules The self-employed pay a 12.4 percent tax on earnings of up to $142,800