As record numbers of boomers reach retirement age, more private companies than ever must wrestle with transition challenges. Seven out of 10 business owners aged 50-plus will transition out of their businesses within the next decade, according to data from the Exit Planning Institute. Meanwhile, the U.S. Small Business Administration
Tax and compliance solutions provider Sovos announced the release of its new Indirect Tax Suite, which is meant to handle all indirect tax obligations with governments, buyers, suppliers, and consumers. The new suite features, via Sovos’ Global Tax Determination engine, the ability to provide automated, accurate tax rates and rule
Enjoy complimentary access to top ideas and insights — selected by our editors. Many CPA firms rely on client referrals for growth. I consider referrals a validation of a satisfied client. Occasionally the lack of referrals is because a client likes you and wants to continue using you but does
Carbon accounting solutions provider Greenly announced the availability of its software on the Intuit QuickBooks App Store. Through Greenly, users have access to automated carbon footprint calculations, real-time emissions tracking and reporting, customizable sustainability metrics and goals and integration with leading financial and accounting platforms. … – Vertex, Inc, a
As the accounting landscape is ever evolving, the ability to adapt is key. Firms seeking business growth need to shift towards leveraging digital strategies to win. Search engine optimization stands out as a powerful tool for attracting clients. In this article, we’ll dive into a few ways accounting firms can
Bloomberg via Getty Images Tax practitioners can now register for the 2024 IRS Nationwide Tax Forums taking place this summer, with more than 40 sessions on tax law and ethics, beneficial ownership information, cybersecurity, tax scams and schemes, digital assets and clean energy credits. CPAs, Enrolled Agents, Annual Filing Season Program participants
Deloitte auditors have been turning their attention to climate risks affecting clients who need to deal with a growing array of regulations and laws around the world as the pace of climate change accelerates. With Monday, April 22, marking the 54th anniversary of Earth Day, the accounting profession is playing
The Internal Revenue Service’s criminal investigators have been on the lookout for tax evasion by so-called “ghost employers” who don’t pay employment taxes, and over 30 cases have been prosecuted in recent years, but the problem is far larger, according to a new report. The report, released Thursday by the
The Internal Revenue Service previewed a draft version of the Form 1099-DA on Friday for crypto brokers reporting on the proceeds of digital asset transactions to their customers. The form is the result of the bipartisan Infrastructure and Investment Jobs Act that President Biden signed into law in 2021, which
The Public Company Accounting Oversight Board says there are significant and consistent deficiencies in auditors’ evaluations of audit evidence. According to a new spotlight report released Thursday by the PCAOB, approximately 17% of comment forms in both the 2021 and 2022 inspection cycles contained deficiencies where the auditor did not