The hunger for counsel among small business clients presents accountants with the opportunity to advise them in a variety of nontraditional areas such as HR. In fact, an ADPRI survey from March 2019 revealed that 62 perrcent of business owners want to receive HR & talent management insights from their accountant. Accountants and
While personal and corporate income tax tends to receive most of the media attention, it’s important to remember that gift and estate taxes can also have a profound impact on an individual’s long-range financial planning. Upon performing a valuation of shares of a closely held entity for gift and estate tax
A new Tax Court case, Berry, T.C. Memo. 2021-42, 4/7/21, flagged a six-figure deduction claimed by construction business owners for their race car expenses. In some cases, a business will go outside the scope of usual promotional and advertising expenses—like signage, media or online marketing, printed materials and the like—to engage
For accountants with clients that sell or distribute alcohol beverages, Avalara Inc., a provider of cloud-based sales tax compliance automation, has released Avalara Shipping Verification for Beverage Alcohol (Avalara Shipping Verification). Avalara Shipping Verification is a new enhancement to Avalara for Beverage Alcohol, which provides a complete solution for direct-to-consumer (DTC)
Today’s digital marketing campaigns run on quality content. The challenge is maintaining both quality and quantity. You need to be posting valuable pieces on a regular basis, but who has the time to be constantly generating topical, informative, articles and blog posts that will draw your target audiences? Let’s face
In case you just joined us, here’s a recap of the previous three columns. Part one explained that Form 1040’s Schedule A allows itemizers to deduct state and local income taxes or to deduct state and local general sales taxes. They can’t write off both in the same year (line
There’s a romance associated with startups. There is a person with the big idea. They get started in their garage. Venture capitalists buy into their idea. The business takes off. It goes public. Everyone gets rich. Now comes reality. Many startups fail. Accountants can help shift the odds in favor
CPAs have to handle pressures from a variety of sources, those that come from banks and other lenders wanting reasonable assurance of a client’s financial strength are unfortunately quite common. As tempting as it may be to comply with such requests, CPAs who provide the requested assurances could actually put
Botkeeper, a machine learning-powered bookkeeping business solution for accounting firms, has a new pricing model intended to break down cost barriers, increase scale and provide greater access for firms of all sizes. Botkeeper’s packaging has been reworked into a scaling model that provides a more consumable approach to the Botkeeper
After the tax season we’ve all endured, as tax professionals you can take a few critical steps to ensure you and your firm are set up to thrive this year, and beyond. Here are three critical measures that you can take and even expand on post-busy season. 1. Stay in