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Latest….
FASB Votes to Move Ahead with Proposed Crypto Asset Accounting Standard
U.S. Job Openings Pass 11 Million
Consumers Plan to Increase Valentine’s Day Spending to Nearly $26 Billion
Top 50 Firms Berdon and Citrin Cooperman Say They Are Uniting
Webinars….
CPE Webinar January 11, 2023: Challenges for the Small Firm
CPE Webinar December 9, 2022: Wrangling and Taming Property Tax Compliance Returns and Filing
Events….
Accounting & Audit
Illinois CPA Society Summit 2023
Aug. 22-23, 2023. Rosemont, IL.
Accounting & Audit
2023 NJCPA Convention & Expo
Borgata Hotel & Casino, Atlantic City, June 13-16, 2023.
Thought Leaders….
Randy Johnston
Randy Johnston has been an entrepreneur, technologist, and teacher for most of his career. He has helped start and run many businesses, and founded Network Management Group, Inc. and owns half of K2 Enterprises. He has written for accounting and technology publications for four decades, and for CPA Practice Advisor since 2000.
Jim Boomer
Jim Boomer is the CEO of Boomer Consulting, Inc. He is the director of the Boomer Technology Circles ™ and an expert on managing technology within an accounting firm. He also serves as a strategic planning and technology consultant and firm adviser in the areas of performance and risk management. In addition, Jim is leading a new program, The Producer Circle, in collaboration with CPA2BIZ and the AICPA. Jim was selected for the 2011 AICPA Leadership Program and the inaugural class of the KSCPA’s “20 Under 40” Leadership Program. He has been named to The CPA Technology Advisor’s “Forty Under Forty” and “Top 25 Thought Leaders” lists multiple times.
Roman Kepczyk
Roman H. Kepczyk, CPA.CITP, CGMA is Director of Firm Technology Strategy for Right Networks and works exclusively with accounting firms to optimize their internal production processes within their tax, audit, client services and administrative areas. Roman has been named a most recommended Consultant 16 years, AT Top 100 16 years and CPAPA Top Thought Leader from 2011 to 2021.
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Jeannie Ruesch
Jeannie Ruesch works as the director of marketing at Bill.com and has been in the accounting industry for more than seven years. She previously worked at Xero and The Sleeter Group. She has more than 20 years’ experience in brand creation and strategy, design, social media development, demand gen, and customer marketing. She’s a tech geek at heart, an author, an award-winning graphic designer, and loves finding ways to help customers solve problems.
How Organic Social Media Can Help Your Firm
While many firms have used paid social media at some point, fewer have invested in their organic social media marketing.
The Technology Lab Podcast – Review of FileThis – Jan. 2023
Technologists Randy Johnston and Brian Tankersley, CPA, CITP, CGMA review FileThis, a cloud tool that digitally gathers personal or business financial documents, across all of the financial, sales and ecommerce sites you use.
Companies With Job Openings Are Cutting Degree Mandates
64% of hiring managers say the bachelor’s degree requirement was eliminated to increase applicants.
FASB Votes to Move Ahead with Proposed Crypto Asset Accounting Standard
Companies would be required to measure crypto assets, like Bitcoin and Ethereum, using fair value accounting.
U.S. Job Openings Pass 11 Million
Vacancies at U.S. employers unexpectedly increased at the end of 2022, illustrating a solid appetite for labor that the Federal Reserve sees as one of the last hurdles to bring down inflation.
Consumers Plan to Increase Valentine’s Day Spending to Nearly $26 Billion
Consumers are expected to spend $25.9 billion on Valentine’s Day this year, up from $23.9 billion in 2022 and one of the highest spending years on record.
Top 50 Firms Berdon and Citrin Cooperman Say They Are Uniting
Citrin acquired the nonattest business of Berdon; Berdon will continue to provide attestation services to clients.
Special Report: Focus on Remote Work
In this special report we address the concerns, intricacies, solutions, and benefits related to remote work, including out-of-state, workers.
6 Time Management Tips for Accountants
Mastering time management is crucial for every accountant. Learning how to prioritize tasks, leverage technology, plan for complex projects and streamline meetings can go a long way in …
From RMDs to Student Debt, SECURE 2.0 Offers a Lot
While the law contains nearly one-hundred new retirement provisions, following is a summary of some of the most notable changes …
SobelCo Team Members Join CLA, Establishing New Jersey Offices
The New Jersey accounting firm SobelCo has joined CLA (CliftonLarsonAllen LLP), the eighth largest accounting firm in the United States, effective February 1, 2023.
64% of Americans Live ‘Paycheck-to-Paycheck’
The share of Americans who say they live paycheck-to-paycheck climbed last year, and most of the new arrivals in that category were among the country’s higher earners, a new study shows.
U.S. Housing Market Down 2.5% Since June 2022
Last year’s run-up in mortgage rates cast a chill on the housing market, leading to the worst annual slide in sales of previously owned homes in more than a decade.
Avalara AvaTax, Returns, and Exemption Certificate Management Achieve SOC 2 Type 2 Compliance
The audit provides customers with assurance that Avalara is accountable, responsible, and transparent when it comes to the handling and security of their …
Survey: 40% of U.S. Companies Reported a Data Leak in the Past Year
A big cause of data leaks is improper implementation of zero trust and full trust approaches, SysKit says.
Changes to Tax Credits and Deductions Could Mean Smaller Refunds or Higher Taxes in 2023
Certain tax credits for children and dependents have been reduced, and the charitable deduction some taxpayers took advantage of during the pandemic years is no longer so easy to claim.
Professionals on the Move – January 2023
Professionals on the Move is a round-up of recent hiring and leadership announcements in and around the accounting profession.
Georgia CPAs Advocate for Profession at State Capitol
CPA Day attendees enjoyed a networking breakfast followed by a legislative update.
New Law Boosts Catch-Up Retirement Contributions
New legislation dubbed “SECURE Act 2.0,” a follow-up to the 2019 SECURE Act, provides several enhancements, on top of inflation indexing already in place for certain plans.
FICPA Members “Hike the Hill” in Tallahassee to Advocate for CPA Profession
he event – which was the Institute’s second full-member, fly-in advocacy day – brought FICPA members together with lawmakers to advocate on behalf of the CPA profession in Florida.
U.S. Consumer Confidence Declined in January
The Expectations Index is below 80 which often signals a recession within the next year. Both present situation and expectations indexes were revised up slightly in December.
58% of U.S. Businesses Plan to Add New Jobs in 2023
While many companies are eager to hire, 9 in 10 managers said it’s challenging to find skilled professionals, on par with results from the prior State of U.S. Hiring Survey.
How Organic Social Media Can Help Your Firm
While many firms have used paid social media at some point, fewer have invested in their organic social media marketing.
When Will U.S. Workers Get Paid Leave? Maybe 2035
Most wealthy countries provide workers with paid time off when they become parents. The U.S. does not.
PayPal and Venmo Now Available as Trusted Payment Methods within QuickBooks Online
PayPal and Venmo, two of the most popular ways for consumers to pay, are now integrated with QuickBooks Online. For your clients, that means online checkout includes options to…
Armanino’s 2023 New Partner Class is Largest in Firm’s History
Half of the new partner class are women, with many completing the firm’s Executive Access Program.
Trump Used FOIA Requests to Get Look Behind the Scenes of Talks Over His Taxes
Trump filed several public records requests while trying to block his tax returns from becoming public.
FAF Widens Access Online to FASB and GASB Standards
FAF hasn’t set a firm date for this change to online access to accounting standards, but it’s expected this spring.
Think Physics is Hard? Try Self-Employed Tax Liability
Tax pros aren’t likely to be confused with Einstein, yet areas of tax are moving from the intuitive to the concrete.
Ex-IRS Employee Found Guilty of Fraud and Identity Theft
As a preparer, Deena Vang Lee put false information on clients’ returns without their consent.
The Technology Lab Podcast – Review of FileThis – Jan. 2023
Technologists Randy Johnston and Brian Tankersley, CPA, CITP, CGMA review FileThis, a cloud tool that digitally gathers personal or business financial documents, across all of the financial, sales and ecommerce sites you use.
Americans Aren’t Getting Enough Exercise
Less than a third of U.S. adults meet suggested benchmarks for aerobic and muscle-building activities set out by health officials, according to a new study released Thursday.
6 SECURE Act 2.0 Changes to Plan for in 2023
With the act containing upward of 100 new retirement provisions, here are six of the most notable changes taking effect this year.
Highlights of SECURE Act 2.0 for Individuals
SECURE Act 2.0 includes numerous significant provisions affecting individual retirement savers. Following is a brief roundup of several key changes.
CohnReznick Adds 19 to Partnership
“They will play a critical role in helping to advance our clients’ goals and our own,” said CEO David Kessler.
Moss Adams Admits 36 New Partners
“I’m proud to have this group join our partnership,” said Moss Adams CEO and Chairman Eric Miles.
W2 Statements Due to Employees and SSA by Jan. 31, 2023
Employers must also provide copies B, C and 2 of Form W-2 to their employees by January 31, 2023.
U.S. Economy Expands at 2.9% Rate in Q4
The U.S. economy expanded at a healthy pace in the fourth quarter, though signs of slowing underlying demand mounted as the steepest interest-rate hikes in decades threaten growth this year.
Inflation Rate Drops for 6th Month; Housing Market Still High
There’s good news on the inflation front: December 2022 marked the sixth straight month that the U.S. rate of inflation has decreased.
IRS Opens Free Online Portal for Businesses to File 1099 Forms
The Information Returns Intake System is expected to reduce the amount of paper Forms 1099 filed in 2023.
How to take advantage of ’10-Year Averaging’ in New Retirement Tax Rules
A taxpayer may qualify for “ten-year averaging” when they receive a lump-sum distribution (LSD) from a qualified plan.
Highlights of the SECURE Act 2.0 for Businesses
The new SECURE Act 2.0, enacted late last year as part of a spending measure, features several notable provisions affecting individuals saving for retirement.
Manchin Floats Bill to End EV Tax Credits for Unqualified Cars
Treasury missed a Dec. 31 statutory deadline to release proposed rules for the new credits.
Deloitte Picks Jason Girzadas to Succeed Joe Ucuzoglu as CEO
In addition, Lara Abrash will succeed Janet Foutty as chair of the Deloitte US Board of Directors.
New AuditClub Passes Help CPA Firms and Companies Find Talent
AuditClub, the Audit Service Center and creator of the innovative auditors-as-a-service model, has announced new and enhanced weekly passes that allow members to subscribe to AuditClub professionals with …
PKF O’Connor Davies Welcomes Massachusetts-based Archambault & Associates
The firm’s offerings include estate taxation and administration, trust funding and administration, tax preparation, tax planning, IRS representation, tax cost accounting, fiduciary accounting, and asset consolidation and simplification.
The Technology Lab Podcast – Review of FileThis – Jan. 2023
Technologists Randy Johnston and Brian Tankersley, CPA, CITP, CGMA review FileThis, a cloud tool that digitally gathers personal or business financial documents, across all of the financial, sales and ecommerce sites you use.
Maine Man Gets 33 Months in Prison for Misusing PPP Funds
He admitting using more than $300,000 from two loan programs authorized by Congress during the COVID-19 pandemic for bail on a theft charge in Florida.