Latest Articles

risk

December 8, 2020 

Is Captive Insurance the Right Fit for Your Clients?

If the turmoil of 2020 has shown businesses anything, it’s that they should have been better protected and most businesses could have benefited from more insurance and more money. The pandemic and riots have forced thousands of businesses into ...

IRS_logo

December 8, 2020 

IRS Interest Rates to Stay Unchanged in Q1 2021

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.

Deductions

December 8, 2020 

A Hidden Trap in Charitable Deduction for Nonitemizers?

The IRS has just reminded nonitemizers that they may be able to claim a special deduction for charitable contributions in 2020 (IR-2020-264, 11/25/20). But it failed to mention that married couples filing jointly may be penalized.

 New Organizer Features Added to CCH ProSystem fx Engagement

December 8, 2020 

New Organizer Features Added to CCH ProSystem fx Engagement

Wolters Kluwer Tax & Accounting has announced the addition of new features to the Engagement Organizer in its award-winning CCH® ProSystem fx® Engagement integrated audit management solution. With new Engagement Organizer capabilities, clients can now ...

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December 8, 2020 

12 Elements of a Cyber Attack Response Plan

Every organization and department must take responsibility for its own security requirements, including planning for cyber incident response and recovery. From an accounting and finance perspective, outlining key considerations for acting upon ...

2020 Form W4 IRS

December 8, 2020 

45% of Taxpayers Don’t Remember When They Last Updated Their Withholding

Many American taxpayers haven’t caught up with the latest changes in the redesigned W-4, which the IRS released a year ago, putting them at risk for an unexpected tax bill next April. In fact, nearly two in five (37 percent) American taxpayers admit they aren’t even familiar with the W-4, including 11 percent who say...…

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December 8, 2020 

Tax Season Preparation Best Practices for 2020

The people in your firm will determine the success or failure of your business. They are your most important asset. Yet, a bad hire can drive away clients and poison morale. My team is important, and while I intentionally invest my time and money in ...