When interviewing clients this tax season, despite the obvious emphasis on income tax, keep in mind the importance of estate planning as it can benefit both you and the client. For example, there may be advantages to lifetime transfers to take advantage of the current transfer tax exemption, but
Practice Ignition, a client engagement and commerce platform for professional services, has become Ignition, to reflect growth from its core proposal and payment automation solution to a broader client engagement platform, helping accounting, bookkeeping and professional services businesses. The brand change follows 18 months of product investment to build a
Modern startups are more decentralized than ever and they’re moving at lightning speed. As companies grow, finance and accounting teams need to choose the right tools with which to scale the company. Shutterstock But now that some employees are splitting time between home and the office, while others are working
The CFA Institute has created a voluntary Diversity, Equity and Inclusion Code for the Investment Profession in the United States and Canada as financial firms wrestle with expanding a more diverse workforce. The DEI Code, launched Thursday by the group of Chartered Financial Analysts, aims to encourage greater commitment from
As the CEO and founder of 1st Step Accounting, I am motivated by technology. Ever since I can remember, I have been inspired by some sort of technology. Whether it was a videogame console like the Nintendo or my first Macintosh computer that plugged into the TV, this technology gave
Unless your new business clients come from an accounting or bookkeeping background, they’re not likely familiar with accounting software or terminology. Unfortunately, they often cannot afford to pay for even our most basic services. And, even though we want to help them, we have to keep our own workloads and
The IRS often challenges deductions claimed for business use of a vehicle. And as shown in a new Tax Court case, it pays for your clients to document this activity well. For starters, taxpayers may deduct their actual business-related vehicle expenses or use the standard mileage rate. For 2022, the
Small business clients have particular needs, and Ignatius L. Jackson, CPA, is here to help. Jackson, a CPA based in Tempe, Arizona, specializes in small business accounting services, such as compilations, bookkeeping and tax preparation. Although Jackson has worked with companies of all sizes and across several industries, he enjoys
If you’re just joining us, the first two parts in this series explained how ownership of conventional single-family dwellings differs from ownership of condominiums or co-op apartments and how an owner of a co-op can build up the adjusted basis for her apartment. This article, part three, will explain why
Today’s tax practitioners are burned out like never before and their services continue to be seen as commodities by most of their clients. Tax season was bad enough before the pandemic. It has always been a siloed practice area within traditional CPA firms and required preparers to rely on workpaper
