The Center for Audit Quality released a report Thursday on the current requirements for public company auditors regarding climate-related disclosures and where they may be heading. The report, Audited Financial Statements and Climate-Related Risk Considerations, discusses the items that public companies are currently reporting and how that information is material
As if the tax landscape had not been rattled enough for tax year 2020, the Biden administration’s proposed changes for the 2021 tax year and beyond may change the traditional tax planning season as well. This could be yet another significant shift only a few years after the Tax Cuts
Just joining in? Go back to part one, which contains information about a tax hit for sellers of vacation homes, and enlighten yourself on why an irked Congress enacted Code Section 121 (b) (5). Its precise wording curtails the availability of a series of full exclusions of as much as
Did you follow a traditional career path? Or was your course altered along the way? For many accountants, their route to business ownership was not straightforward or intentional. Perhaps you started a side hustle while working for a firm, or your life circumstances changed, requiring more flexibility, and you decided to go for
Canfield, Ohio-based Top 100 Firm HBK CPAs & Consultants is merging in Pittsburgh-based managed service provider Vertical Solutions to combine operations with its subsidiary HBK IT. The merged companies will be renamed Vertiliocity and operate out of Pittsburgh, Clark, New Jersey, and the Denver area. Current Vertical Solutions president Bruce
A stock option is an agreement between a buyer and a seller to exchange stock for a pre-set price within a specific period. Employee stock options, for example, are agreements between the corporation and the employee to purchase common stock at a price set by the corporation. The stock must
Wildfire victims in California and storm and flood victims in Tennessee now have more time to file some returns and pay due taxes. California wildfire victims have until Nov. 15, 2021, to file various individual and business tax returns and make tax payments. Wildfire-affected individuals and households that reside or
Xero is an entirely cloud-based accounting software for small firms fulfilling bookkeeping purposes like invoicing and payroll. One of its striking features is the Tax Return that automatically registers groups of all tax returns (received electronically). The strategy calls out to Xero Tax on a scheduled daily basis to recover
Last week a young accountant called me asking if I could help him organize his time so he could get all his client work done while doing what is necessary to build a successful practice and allowing him to spend necessary and quality time with his growing family. We spoke
QuickBooks is the best-rated accounting software that provides top tier software solutions to handle your accounts and taxes. One of the prominent features of this application is the QuickBooks Fixed Asset Manager (FAM). FAM helps you account your fixed assets from the day of procurement to riddance. It is also
