The Internal Revenue Service warned Monday about bad advice that’s being peddled on social media promoting a bogus “Self Employment Tax Credit” and prompting unsuspecting taxpayers to file false claims for the credit. The promoters claim the credit is available to self-employed people and gig workers and suggest they may
Anyone in the accounting profession with a whit of human intelligence knows by now that artificial intelligence will transform the industry over the next few years. This might be the most important way: It’s going to de-value commoditized “bean counting” functions and accelerate the need for firms to position themselves
Aprio, a Top 50 Firm based in Atlanta, has completed an investment round from Charlesbank Capital Partners, a private investment firm based in Boston, the latest accounting firm to get a private equity infusion. The amount of the investment was undisclosed. Aprio ranked No. 25 on Accounting Today’s 2024 list
Financial planner Barbara Bilello likens wealth management to a car, in which an estate plan is part of the body and investment or portfolio management is the engine, she said. “That engine is going to fuel the car. That body of the car is your financial plan, said Bilello, a
The Internal Revenue Service now has FAQs related to entities registering for the Clean Fuel Production Credit. The Inflation Reduction Act of 2022 added the new income tax credit for clean fuel production, which becomes available next Jan. 1. To claim the credit, the taxpayer must be registered as a
Nobody wants to come back from the dead poor. Luckily for the rich, making wealth immortal is more solvable than reversing death. Estate attorneys are creating trusts aimed at extending wealth until people who get cryonically preserved can be revived, even if it’s hundreds of years later. These revival trusts
A federal court issued a stay and a preliminary injunction against the Federal Trade Commission’s noncompete rule after a lawsuit by Ryan, a Dallas-based tax services firm, and the U.S. Chamber of Commerce. Ryan filed suit in April to block the FTC rule, and last week U.S. District Court Judge
The Indiana CPA Educational Foundation, Indianapolis, awarded its 2024-25 College & New CPA Exam Scholarships to: Joel Fowerbaugh, graduate student, Purdue University; Nathan Galles, senior, Purdue University; Jordan Hes, sophomore, Indiana University Indianapolis; Katherine Hoff, graduate student, Indiana University Bloomington; Alex Perry, junior, University of Southern Indiana; Ashley Schmid, graduate
Choosing a career in public accounting is a pivotal decision for young members of the profession, but it’s only the beginning of a series of important choices, and one of the most important of those — whether to start their career in tax or audit — is often initially overlooked
The Internal Revenue Service issued a warning Wednesday cautioning taxpayers to beware of a new scam involving the purchase of clean energy tax credits. The IRS said it’s seeing cases where unscrupulous tax preparers misrepresent the rules for claiming clean energy tax credits under the Inflation Reduction Act. The 2022