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Featured….
March Saw Increase in Job Growth and Retail Sales
Bidens Paid 23.7% Effective Federal Tax Rate in 2023
Retirees Are Facing Sizable Tax Bills Due to Fraud
Why Gen Zers Are the Least-Happiest Employees at Work
Contributors….
Becky Livingston
Garrett Wagner
Richard D. Alaniz
Randy Johnston
Webinars and CPE….
Webinar: Effortless Tax Prep and Workflow: Say Goodbye to Client Frustrations
CPE Webcast Apr. 2, 2024: The Future of Media & Entertainment: Leveraging Data and Finance
Events….
Accounting
Xerocon 2024 Nashville: Aug. 14-15, 2024
The event will be hosted at the Music City Center, allowing Xero’s community of accountants and bookkeepers from across the U.S., Canada and beyond the chance to connect, as well as options for earning CPE credit.
Accounting
RightNOW Conference 2024
Top influencer keynotes, transformative tech insights and AI innovators converge to elevate the accounting profession at RightNOW 2024. May 14-16, 2024 | Austin, TX.
IRS Touts Strong, More Efficient 2024 Tax Season
It’s Tax Day, so there’s no better time for the IRS to pat itself on the back for a job well done as filing season ends for most Americans.
Cast Your Vote for 2024 Readers’ Choice Awards!
The CPA Practice Advisor Readers’ Choice Awards give readers the opportunity to spotlight the technologies they most rely on and trust to manage their firms.
Taxes
IRS Says Work-Life Referral Services Are a De Minimis Fringe Benefit
The use of such referral and information services would be excluded from employees’ taxable gross income, according to the IRS.
Small Business
March Saw Increase in Job Growth and Retail Sales
The Census Bureau said overall retail sales in March were up 0.7% seasonally adjusted from February and up 4% unadjusted year over year. That compared with increases of 0.9% month over month and 2.1% year over year in February.
Taxes
Bidens Paid 23.7% Effective Federal Tax Rate in 2023
President Joe Biden and first lady Jill Biden paid $146,629 in federal income taxes on a combined $619,976 in AGI last year.
Taxes
Retirees Are Facing Sizable Tax Bills Due to Fraud
A new Senate committee report sheds light on how older adult scam victims end up with big tax bills and lost retirement savings.
Payroll
Why Gen Zers Are the Least-Happiest Employees at Work
Gen Zers have a strong purpose-driven mindset but don’t feel satisfied with their sense of purpose at work, a report found.
Firm Management
How Firms Can Create Success in the Real World of the Remote Work
To be successful as an organization navigating the advantages and challenges of this new way of working, it is essential to have the right team and technologies.
Avalara Appoints Ross Tennenbaum as President
Tennenbaum has been at Avalara for five years and has served as the company’s Chief Financial Officer since 2020.
Accounting
Deloitte’s Time as the Most Prestigious Accounting Firm in the U.S. Has Run Out
After Deloitte ended PwC’s 14-year streak as most prestigious firm in Vault’s 2024 ranking, PwC took that title back for 2025.
Taxes
Tax Refunds Dropped by 3.3 Percent in 2024
Fewer U.S. taxpayers have received a refund this year in the run-up to tax day compared to 2023, signaling some consumer spending may be disrupted.
Firm Management
Accounting Firms Continue to Prioritize Work-Life Balance
The accounting field is still in the midst of a talent shortage that’s causing some firms to turn down clients during busy times.
Taxes
Corvee Adds Depreciation and Amortization Functions to Instead
With Instead and Instead Pro, users can utilize depreciation to find and compare tax savings for assets categorized as residential, nonresidential, technology and …
Technology
Most Accounting Firms Are Shying Away From Using AI—For Now, Survey Finds
While 35% of firms surveyed by Rightworks have no plans to use AI, 38% not using AI technology now might consider it down the road.
Accounting Standards
Florida Creates New Status for Retired CPAs in the State
The legislation allows licensed CPAs who are at least 65 years of age to apply to the Florida Board of Accountancy (BOA) to place their license into retired status.
Accounting
PwC Locks Down Top Spot in Vault’s Best Accounting Firms Ranking for 2025
PwC has been ranked the No. 1 best accounting firm to work for by Vault for the last 12 years.
Taxes
Florida Lawyer Gets 8 Years in Prison for Fraudulent Charity Tax Claims
A Florida attorney was sentenced today to eight years in prison for conspiring to defraud the United States and tax evasion.
Taxes
7 Data-Driven Trends Impacting Tax Operations
Despite chronic and pandemic-specific challenges however, the IRS is making strides in returning to business as usual.
Small Business
CFO Optimism Hits 3-Year High
A new survey from Grant Thornton LLP shows that chief financial officers are more optimistic about the U.S. economy than they’ve been in nearly three years.
Taxes
IRS Touts Strong, More Efficient 2024 Tax Season
It’s Tax Day, so there’s no better time for the IRS to pat itself on the back for a job well done as filing season ends for most Americans.
Taxes
IRS Adds More Census Tracts For EV Charger Tax Credit
These additional census tracts were determined to meet the description of eligible census tracts in Notice 2024-20, the IRS said.
TaxDome Completes SOC 2 Type I Audit Examination
This achievement underscores their unwavering commitment to maintaining the highest levels of data security and safeguarding client information.
Artificial Intelligence
How Artificial Intelligence is Revolutionizing the CPA Practice
Embracing innovation, particularly the transformative power of AI, is key to ensuring long-term success in the accounting profession.
Payroll
Many Hiring Managers Ask Illegal Questions During Interviews, Survey Finds
Questions to candidates about citizenship, race, disability, and other characteristics often skirt what’s allowed by law.
Taxes
4 Key Crypto Tax Tips for Entrepreneurs and Digital Investors
By taking the right steps, it’s possible to avoid overpaying taxes and enjoy tax benefits.
Accounting
RightTool Wins 2024 Accountant Bracket Challenge
The QuickBooks automation tool defeated CPA Jason Staats, host of the Jason Daily podcast, in the final by a score of 355-110.
Taxes
Shohei Ohtani’s Ex-Interpreter Charged With Bank Fraud, Stole $16 Million From Baseball Star
Ippei Mizuhara’s involvement in illegal gambling turned up in a far-reaching investigation by federal agencies including the IRS.
Small Business
Retail Sales and Wages Grew in March
This is the sixth month that the Retail Monitor, which was launched in November, has provided data on monthly retail sales.
Technology
Tesla to Launch RoboTaxi on August 8
Tesla Inc. plans to unveil its long-promised robotaxi later this year as the electric carmaker struggles with weak sales and competition from cheap Chinese EVs.
Taxes
Trump Tax Cuts Were Neither Panacea Nor Rip-Off
While the cuts yielded benefits to Americans up and down the income scale, the benefits could best be described as modest.
Auditing
PCAOB Really Flexed Its Enforcement Muscles in 2023
Total enforcement activity reached its highest level since 2017 and monetary penalties doubled compared to the record set in 2022.
Security
The Accounting Technology Lab Podcast – Cybersecurity for High Net Worth Clients – Apr. 2024
Hosts Randy Johnston and Brian Tankersley, CPA, discuss cybersecurity issues and strategies for managing high net worth clients.
Firm Management
Crowe Adds Southern California Accounting Firm KMJ Corbin & Company
KMJ’s audit and tax capabilities and industry sector specialization will offer an unrivalled client experience and augment Crowe’s ability to serve the ever-expanding needs of its client base in California.
Firm Management
CohnReznick Launches Digital Advisory Practice, Aligns with Top Solutions Providers
The digital practice empowers businesses to unlock their full potential through innovative enterprise applications, advanced data analytics, and transformative AI strategies.