Latest Articles

odometer 1  58505b39a7ced

December 13, 2016 

IRS Issues 2017 Mileage Rates for Business, Moving and Medical

53.5 cents per mile for business miles driven, down from 54 cents for 2016. The business mileage rate decreased half a cent per mile and the medical and moving expense rates each dropped 2 cents per mile from 2016. The charitable rate is set by ...

 Boost Your Productivity With This Personal Hack

December 13, 2016 

Boost Your Productivity With This Personal Hack

We all struggle with demands on our time. Some of these are external and work-focused- requests from colleagues, phone call interruptions, and email. But others stem from our own internal weaknesses. In our conversations with session attendees, people ...

 New Lease Accounting Standards Have Finance Depts Working Overtime

December 13, 2016 

New Lease Accounting Standards Have Finance Depts Working Overtime

In some sectors, respondents expect to spend considerably more time and effort on lease accounting implementation. These sectors include: automotive (77.1 percent); health plans (65.9 percent); health care providers (62.8 percent); industrial products ...

taxplanningtax1_10327932

December 13, 2016 

Report Looks at Major Tax Changes of 2016

Thomson Reuters has released a special report, 2016 Practical Tax Law Changes, which highlights notable legislative and regulatory tax developments over the past year and the potential impact on individuals and businesses.

Technology 21 1  54bfe611dadbc

December 13, 2016 

Is Your Technology Meeting Client Expectations?

Too many firms are stuck in the paper age; continuing to do things the way they always have. Beyond the aversion to change is the deep-rooted belief that if they don’t send out a tangible stack of paper, the client will question the value they ...

Jim Boomer

The-Tax-Joys-of-Parenthood-3-Exemptions-Lrg1

December 13, 2016 

Dependent Exemptions for Domestic Partners? It’s Fuzzy

The IRS recently agreed to extend the tax benefits available to traditional spouses to spouses of same-sex marriages following the Supreme Court case upholding the validity of these unions. But some couples continue to live as domestic partners ...

where does the time go 1  582c6ed5954f9

December 13, 2016 

Where Does Time Go?

It’s hard to believe another year has come and gone. The old adage that time flies when you’re having fun has certainly applied to our family with the addition of three new grandchildren this year! While we often track time in our lives by birthdays ...

Randy Johnston

 2016 Review of Tax Document Automation Systems

December 13, 2016 

2016 Review of Tax Document Automation Systems

While tax document automation software can automatically populate relevant information on tax returns, the products also offer digital PDF workpapers, allowing users to easily create binders for each client following a specific order, so all binders ...

Mary Girsch-Bock

mileage photo 1  54f73d7137480

December 12, 2016 

5 Things Accountants Need to Know About Mileage Reimbursement

Understanding mileage reimbursement has the potential to save businesses and their finance teams millions of dollars in the long run. With that in mind, there are a few basic things you need to know in order to lay the foundation for fair and accurate ...

Tax Penalty 1  566aff909c331

December 12, 2016 

Paying Tax Penalties? Stop Voiding Your Insurance Policy!

As Tax Season looms closer, it’s worth having a quick discussion with the partner group on your firm’s policy for paying client’s tax penalties. Why should you have this discussion immediately? Failure to properly report and receive clearance from ...

money 1  54b428fa468c4

December 12, 2016 

Tax Drawbacks to Bank Sign-Up Bonuses

As the holidays draw near, you've probably heard plenty of TV and radio ads by banks and other financial institutions offering "rewards" for opening up accounts. As of December 1, certain high-profile entities - including Charles Schwab, Chase, TD ...