In a session I presented at AccountingWEB Live Summit in San Diego earlier this month, I spoke about preparing your firm for acquisition or succession. One of the key points I elaborated on was automation and tech, which are everything when you’re in a service-based business. The more you automate,
At the AccountingWEB Live Summit in San Diego earlier this month, one of our main goals was to ensure the conversations professionals are having about accounting and finance in particular and “work” in general are forward thinking. It’s an overused statement at this point, but it bears repeating that the
The IRS and employers are often at loggerheads over whether workers should be treated as employees or independent contractors, private-duty nurses included. When push comes to shove, an employer may have an ace in the hole: Section 530 relief. However, as shown in a new case, Pediatric Impressions Home Health,
There are a variety of things the IRS can do if your clients fail to resolve back tax issues or choose not to respond to the myriad notices the service will send. The various ways the IRS uses to collect owed taxes if indeed there is no response or resolution
“Have you ever noticed accountants are doing a job that’s been done the same way for centuries, but the rest of the world doesn’t do that?” This was just one of the questions Penny Breslin posed to her audience listening to her talk on “Non-Tax Advisory Services to Offer to
Finance ministers and central bank governors from G7 countries are asking the recently established International Sustainability Standards Board to go beyond climate change disclosures to set standards in other areas related to nature and social issues. In a wide-ranging communique — issued during a Friday meeting in Germany of international
With apps being used more than ever in accounting, these professionals have a chance to take some control over where technology and vendor relations go. Accounting technology has been at an inflection point before, but not quite at the level it’s at now. Some in practice can think back to
IRS Collections is an enigma and a different kind of animal from the rest of the IRS. There are hard and fast deadlines that must be met or the taxpayer can lose their rights. What typically happens is that you acquire a collections client when these deadlines have passed. To
The International Sustainability Standards Board hopes to establish a comprehensive “global baseline” of sustainability disclosures and described some broad steps Wednesday to achieve it by the end of the year. Establishing a global baseline would reduce the fragmentation of sustainability disclosure requirements, according to the ISSB, and lessen the costs
There could be a number of reasons why your business clients may want to add new members to their LLC. Perhaps they need funds and have decided to bring on additional owners for their financial investment. Maybe they want to expand their LLC’s services and feel the best way to
