Accountants across America are facing the serious issue of capacity management, which has shown itself to be complicated to understand and has left practitioners struggling to find a viable solution. Many attempt to handle the increasing amount of work available by hiring more staff members, but Will Baker says there’s
The basic focus of the Section 183 hobby loss provisions is on Section 162 and its “ordinary and necessary” criteria for deducting business expenses and losses. It also mentions the Section 212 investment expense provisions. If your activity is considered not-for-profit rather than a business, the tax rules can find taxable
Sometimes history repeats itself. Years ago, when I was a financial advisor in Brooklyn, New York, a large number of people leaving Eastern Europe, where inflation was high, and settling in the United States. When it came to investing, some people assumed all stocks went up in price, and some
The accounting profession is undergoing a reexamination of its efforts to address the lack of diversity, not only in the U.S. but in other parts of the world. Last month, the Institute of Management Accountants, the California Society of CPAs and the International Federation of Accountants released a global survey
For some of your high-net-worth clients, the financial strategy of liquidating life insurance via a life settlement comes with tax implications. Life settlement taxation is governed by the Tax Cuts and Jobs Act of 2017 (TCJA), signed into law by former President Trump in early-2018. TCJA created a more favorable
As we emerge from a busy tax season, it’s clear that the dealmakers have been working hard behind the scenes to get a leg up on this year’s mergers and acquisitions (M&A) opportunities. This should come as no surprise—global M&A activity hit record highs in 2021, reaching almost $6 trillion in deals.
For the first time since 2019, Intuit’s QuickBooks Connect event is returning to the live stage but this time it is solely focused on accounting professionals. So, why is that so important? While more details are still to come, what we know is that QuickBooks Connect, which had historically been
Just joining us? Go to part one for the basics of Form 1040-X, Amended U.S. Individual Income Tax Return, formerly Form 1040X, and the guidance I would offer to a self-employed filer who needs advice on how to submit 1040-X. Subsequent columns will alert her and other filers to more aspects of
Generating a trusted forecast for demand and supply even while incorporating uncertainty and optimizing inventory can seem like a daunting task…or is it? For many supply chain planners, it looks that way at first glance because forecasting and managing sales/demand planning, supply, production and sales and operations planning (S&OP) is
In addition to the fantastic networking opportunities and engaging content agenda you’ll find at the AccountingWEB Live Summit this May in San Diego, we also have exhibit halls filled with vendors who offer the latest technology that will solve your problems and help you work more efficiently. Today, we’d like you to
