Finance & Accounting

Quite an education; food for thought; Motion denied; and other highlights of recent tax cases. Tampa, Florida: A federal court has permanently barred Steven Doletzky, formerly doing business as Liberty Tax Service, from operating a prep business and preparing federal returns for others. The court also ordered Doletzky to disgorge $175,000 that the U.S. alleges
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With offices closed, and staff and clients scattered, maintaining relationships (and sanity) can be hard. Below are eight tactics to manage a disrupted work environment for the duration, and help maintain productivity and healthy relationships. The first four are specifically for firm leaders and managing partners, and the last four are for everyone trying to
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The tax season can be a stressful period for businesses. This period is marked with pressures to file for returns by a deadline and it inadvertently provides good opportunities for scammers to strike.  Scammers pounce on opportunities to steal your sensitive data, identity theft or trick you out of money by employing elaborate ruses using
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Worried. Concerned. Fearful. These are the feelings your clients may have right now. Notice how they are not accounting problems? They are emotions. One unique aspect of the trusted advisor relationship is that while they must believe you are competent, they must also believe you care. And now is the time you show you care.
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The National Society of Accountants sent a letter Friday to Internal Revenue Service Commissioner Charles Rettig, asking for the IRS to extend tax-filing season because of the threat from the coronavirus, while the National Conference of CPA Practitioners asked the IRS and the Treasury to waive penalties and interest charges for taxpayers. The American Institute
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The Tax Cuts and Jobs Act drastically cut the corporate tax rate. But it also introduced the qualified business income (QBI) deduction. The QBI offers a way to lower the effective tax rate on the profits of owners of pass-through entities. These include sole proprietorships (including independent contractors), partnerships, limited liability companies, and S corporations.
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The Setting Every Community Up for Retirement Enhancement Act (SECURE) is part of the government’s spending bill that includes numerous provisions intended to strengthen retirement security across the country. It is designed to open up opportunities to segments of the workforce that was previously not covered in retirement plans. In addition, the bill attempts to
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Papers trail; House of cards; trickle down; and other highlights of recent tax cases. New York: Richard Gaffey, a.k.a. “Dick Gaffey,” 75, a U.S. citizen and resident of Medfield, Massachusetts, has pleaded guilty to wire fraud, tax fraud, money laundering, aggravated identity theft, and other charges. Gaffey was charged along with Harald Joachim von der
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Have you ever dreamed of becoming a millionaire? It is very possible to become one! Today there are over 10 million millionaires in the U.S., according to research by the Spectrem Group. Just imagine what you could do as a millionaire. You’d have financial freedom. You could enjoy life, stop worrying about money, and gain
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As part of its Tax in 2020 initiative, Deloitte has introduced Immersive Mobility, a virtual reality-driven service that helps orient transitioning employees to new locations. The new offering is designed to reduce the financial and environmental costs of relocation. Immersive Mobility offers 360-degree city tours, virtual home tours, onboarding, and mixed-reality training combining virtual reality,
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My company sells five different customer relationship management applications, and we currently serve about 600 clients using these applications. I’ve gotten pretty good at being able to identify prospective clients that have a good chance of success. So can you guess my reaction when a CPA firm approaches me about a potential CRM solution? It’s
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Leaders of the Securities and Exchange Commission and the Public Company Accounting Oversight Board issued a joint statement Wednesday about the impact of the coronavirus on audit firms trying to operate in China and the impact on audit quality, while offering them the possibility of relief as auditors struggle to visit clients during the outbreak.
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