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
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
Avalara, Inc., a provider of automated tax compliance tools and services for businesses of all sizes, has released an array of new tax compliance products and services designed specifically for accountants. Know as Avalara for Accountants, the new offering was designed to provide accounting professionals with the technology to simplify and streamline
Question. Julian, hello from “Patrick.” That’s not really my Christian name, and I’d as soon skip my last name. How come? Because, like lots of other accomplished authors, I’m bombarded with snarky emails from people who want to spell out why they resent writers. Julian, what follows are disclosures that
Accountant-focused file-sharing and mobile client app maker Liscio is now integrated with practice management tools maker Karbon. With Liscio and Karbon working together, staff will no longer have to chase clients for documents or search across multiple platforms for documents that clients have sent to you. Additionally, since all client communications,
In the second article in this series, we looked at how we can help our “unreasonable and demanding” clients become less so by alleviating their fear and confusion. We do this by being a good host: Every time we engage with a new client or prospect – or whenever we
As part of our ongoing effort to address reader questions on issues that impact their professional lives, or that of their clients, we established our Ask AccountingWEB effort. Here, we accept queries from other accountants that wish to have our contributing topic matter experts answer in as much detail as
