Whether you are dealing with tax or Client Accounting Services engagements, your client experience should be considered in all areas of your firm. You need to have the best possible experience for your clients and your firm’s staff, while maximizing profit to the partners. Effective document exchange, gathering, management, and distribution
Grantor retained annuity trusts (GRATs) can have non-tax purposes, but they are basically tools to help wealthy clients avoid the estate tax. The person setting up the trust keeps an annuity for a term. The trust’s assets then usually pass to a family member. The tax measurements turn on the
Many articles tell you what you should do, but few tell you how to do it. This one shows how to build HR services into your practice with confidence. Building a Service Offering As an accountant, it is fairly easy to add in a payroll services line. If you do not
UWorld Roger CPA Review has released major content updates to prepare CPA candidates for success not only on the CPA exam, but also in their careers. The course content updates were designed to give students a head start in preparing for the newly released AICPA Blueprints that will go into effect
In a new Tax Court case, (Pankratz, TC Memo 2021-26 3/3/21), charitable deductions were denied because an appraiser didn’t meet the requisite standards. Background: Generally, a taxpayer may deduct the fair market value (FMV) of property owned longer than a year. For example, if you bought a sculpture for $2,000
QuickBooks requires good internet connectivity to function and bring out the best features for its users to manage their accounting tasks efficiently. Subsequently, it fails to fulfill the user commands if the internet connection is compromised. That’s the case with the QuickBooks error 12152. It is directly related to improper
There are several reasons business clients run into cash flow problems or just simply need more money in a hurry. It’s better to get in front of this problem sooner than later and as their accountant, you need to be able to ask the tough questions. Seven Questions Where Your Client Will Need
Do you know the magic word that unlocks the secret to greater growth and profitability for your accounting firm? It’s “research.” Our recent comprehensive professional services study on service buyers and sellers and confirmed that the single most important business tool shared by all high growth accounting firms is research.
Accountants have a unique and highly coveted skill set – not everyone is skilled at analyzing data and working with finances. However, it’s possible that the role you’ve been traditionally doing may no longer be challenging or exciting. If that’s the case, it’s important to keep in mind that it’s
Given the new landscape, CPAs and other tax professionals may ask what steps can you take to grow your career and land your next opportunity. Now that we’re more than a year into the pandemic, tax season has (finally) come to a close, the economy is on the upswing and many accounting professionals may be
