Health savings accounts are growing rapidly as employees tap into the vaunted “triple tax free” advantages, but those benefits come with some caution for financial advisors and their clients. Pretax contributions, untaxed investment earnings and penalty-free withdrawals for qualified medical expenses provide ample appeal for HSAs as a savings vehicle
The Public Company Accounting Oversight Board has levied a $400,000 fine against MaloneBailey and sanctioned the auditing firm for pervasive quality violations. According to a settled disciplinary order Tuesday, the PCAOB conducted three inspections of the Houston-based firm from 2018 to 2021 and during each inspection found significant deficiencies that
Katz, Sapper & Miller, a Top 50 Firm based in Indianapolis, is expanding into Ohio by adding Cassady Schiller, one of the biggest firms in Cincinnati, effective May 31. Cassady Schiller offers tax and accounting services to high-net-worth individuals and families, and businesses in the manufacturing and distribution, hospitality, and
Enjoy complimentary access to top ideas and insights — selected by our editors. Most people seem confident that they have a good handle on their financial affairs, but to make the most of them, you can never know too much. To find out where individuals have the best understanding of
The Internal Revenue Service is currently drafting proposed regulations on digital asset reporting requirements, but their final direction remains uncertain. The Tax Reporting Conference, held each year in May, shed some light on digital asset reporting on the new Form 1099-DA, as well as the proposed regulations. Jessalyn Dean, vice
Real estate investment trusts have become increasingly prevalent in the investment landscape, offering investors a vehicle to access diverse real estate assets and income streams. Financial statement auditors must handle distinct challenges that come with auditing these entities. Whether examining publicly traded or privately held REITs, these investment vehicles present
One man, in the eyes of Donald Trump, is a “money machine.” The other is a guy named “Scott.” Each of them, if November’s election breaks the ex-president’s way, could be America’s next Treasury secretary. The “money machine” is John Paulson, who famously made $15 billion betting against subprime mortgages.
Old IRS tech; lead, don’t manage; an MP want-ad; and other highlights from our favorite tax bloggers. Age before beauty Turbotax (https://blog.turbotax.intuit.com): In this commencement season (like few others, but not for reasons of personal finance), what to remind soon-to-be grads about their money and tax futures. Taxable Talk (http://www.taxabletalk.com/): The
Bennett Thrasher, a Top 100 Firm based in Atlanta, has been increasing its workforce and footprint despite talent shortages, growing 17% in the first quarter of the year. The firm ranked No. 64 on Accounting Today‘s 2024 list of the Top 100 Firms, with $102.79 million in annual revenue in
PricewaterhouseCoopers, the global accounting firm, eliminated 60 jobs in Canada as the company braces for the fallout from the nation’s economic slowdown, according to people familiar with the situation. The company employs about 7,700 people in Canada. It had already cut about 2% of its workforce in the country at