In our continuing effort to improve the AICPA Peer Review Program, we rarely take a step back to look at how far we have come and the positive impact the peer review process has on our profession, those it serves and its overall impact on audit quality. The AICPA, its
Our focus for this article is on the Section 199A deduction that arose with the 2017 Tax Cuts and Jobs Act and the potential impact new legislation may have. Maximizing this deduction is a significant tax planning consideration through 2025. The deduction is “above the line,” and so available to taxpayers even if they
If President Joe Biden’s revenue proposals (the “green book”) for fiscal year 2022 are passed by Congress, fund managers could be facing increased tax liability. One section in the green book identifies carried interest (or profits interest) as a primary source of income to the investment industry. If passed, carried
FreshBooks is a cloud-based accounting software that has made accounting solutions for small businesses relatively simple. With all its features and functionality FreshBooks has become an essential for every business. One such feature that you’ll see in this blog today is the FreshBooks Time Tracking Feature. You’ll discover the benefits
Often, you start your career as a generalist. But to grow, you have to find your niche—the unique corner of the world where you can become an expert. No matter the size of your firm, finding and embracing a niche industry is key to growth. But where do you start?
QuickBooks Accounting Application is a software used worldwide for its user-friendly features and seamless functionality. It works for small-scale businesses enabling them to create customer invoices, payroll features, and much more. However, as it is a software and just like others, a variety of bugs or technical problems arise in
The child tax credit is unlike other tax benefits and practitioners should educate their clients now to avoid any unpleasant April 15 surprises. The enhanced credit is built on the original child tax credit found in IRC Sec. 24. When paired, the result is a more robust combined credit available
If you are a QuickBooks Online (QBO) user, you know that a foundational feature of QBO is connecting your financial institutions to QBO using bank feeds – usually checking, savings and credit card accounts. The recommended workflow is to pre-enter your transactions into QBO, and when the transactions arrive in
Have your business clients recently discovered they’re liable for communications tax? If so, they’re far from alone. Now, the question is: How will you stay compliant? The answer may not be as simple as you’d initially think. Communications tax can be very different from sales and use tax. And depending
Economic nexus laws are leaping across borders, real money is pouring into the virtual world, and sales tax holidays are causing consternation. Read about all this and more below: To begin with, if sales tax holidays weren’t challenging enough, counties and municipalities aren’t required to participate in Alabama’s sales tax
