July 7, 2016
172,000 Jobs Added in June, Says ADP
Private sector employment increased by 172,000 jobs from May to June according to the June ADP National Employment Report.
July 6, 2016
2016 Fringe Benefits Tax Series #8: Cash In on Employee Discounts
Does your business offer discounts to its employees and family members? This can be a valuable fringe benefit to your workers and shows that you believe in your own brand. But does a discount qualify for a tax exclusion? It depends.
July 6, 2016
CEOs Say Next 3 Years Are More Critical than the Last 50
A stronger client focus was identified as the CEOs’ top strategic priority. Eighty-six percent are concerned about how to keep up with the differing wants and needs of millennials.
July 6, 2016
Financial Execs Struggle To Measure and Mitigate Risks
The survey also reveals that many organizations face a large challenge in moving toward a higher maturity of GRC activities – 43 percent of respondents say they are operating their compliance efforts at an ad hoc or fragmented/siloed level.
July 5, 2016
2016 Fringe Benefits Tax Series: #5: Dine At Work On The IRS
Does your business provide meals to its employees in your own cafeteria or by other means? Generally, the cost of this fringe benefit is deductible by the business and tax-free to the employees, but only as long as certain tax law requirements are met.
July 4, 2016
5 Tips for Successful CPA Firm Partner Retreats
Retreats are not intended to be a walk on the beach. Effective retreats address tough issues. A healthy amount of conflict and disagreement serves as evidence that the group is addressing important, sensitive issues. Firms that adhere to these ...
June 28, 2016
Illinois CPA Society Awards 34 Accounting Scholarships
Each year, The Society and The CPA Endowment Fund provide about $185,000 in financial support and outreach assistance to qualifying students who are working towards becoming CPAs. ICPAS scholarship programs are funded by contributions to the CPA ...
June 28, 2016
2016 Tax Series: 16 Sweet Fringe Benefits
What’s better than a salary increase? For many employees, the addition of an equivalent fringe benefit may be preferable, due to the tax consequences. For example, if an employee is in the 25% federal tax bracket and receives a $10,000 raise, he or ...
June 28, 2016
Financial Execs More Optimistic on Long-Term Growth
This quarter, the top five external risks cited were: 1) oil/commodity prices, 2) U.S. economy pullback, 3) new/burdensome regulation, 4) the upcoming election/political uncertainty in the U.S., and 5) global growth/recession/volatility and capital ...
June 24, 2016
Keys to Profitability That CPA Firms Overlook
Partner income percentage is impacted much more by staff-partner ratio than by innate profitability. Many partners have a rule of thumb that 33% is an acceptable partner income percentage, and that to be truly profitable, 40% or more should be the ...
June 23, 2016
AICPA IMTA Section Honors Young CPA With Scholarship
Miller, 34, is an information assurance associate with Macpage LLC, which has offices in Maine and Massachusetts. She is a summa cum laude graduate of the University of Massachusetts-Lowell in Lowell, Mass., and was licensed as a CPA in the state of ...
June 23, 2016
The New Face of Women in Accounting: Changing the Conversation
Technology has opened the door to change the conversation about what’s expected from an accountant and client relationship. Accounts are becoming more of a connected advisor and can do their work from anywhere, anytime.