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
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
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
With the 2022 tax season behind us, now is the perfect time to start proactively planning for next year. Starting now allows firms maximum time to ensure their management practices are up to date and efficient. Firm managers must learn from their previous mistakes and implement adequate solutions. For accountants,
If you’re just joining us, parts one and two in this series explained why the filing deadline for 1040s for calendar year 2021 was April 18 for most filers. Those who submitted Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return, by that date will
When we first conceived of AccountingWEB Live Summit, we knew we had to put the topics of the sessions front and center. Moreover, we knew the Agenda and subsequent topics needed to not only reflect our everyday commitment to providing practical and useful content to accounting professionals, but we also
“Be a thermostat, not a thermometer.” It’s brilliant advice from Emmanuel Acho, former NFL linebacker, celebrated broadcaster, New York Times best-selling author and current change-champion of diversity, equity, belonging and inclusion (DEBI). The accounting profession needs more thermostats: Leaders who can assess and adjust the temperature of a room and