Finance & Accounting

BDO USA LLP has united several of its technology consulting practices under a new BDO Digital business. The new digital advisory business is focusing on services such as data governance, cybersecurity, data privacy, data analytics, IT outsourcing, application development, cloud deployment, IT managed services and a variety of others, according to Stephanie Giammarco, a partner

Do you work from home? If so, others share your situation. The U.S. Small Business Administration says 60.1% of all firms without paid employees are home-based. The same ca be said for 23.3% of small employer firms, and 0.3% of large employer firms.  Work from home? Determine whether to claim a home office deduction, which

Details: EisnerAmper, a Top 20 Firm based in New York, has expanded in New Jersey by adding the leaders and staff members of Horvath & Giacin, P.C., effective Jan. 16. John Horvath, president and a founding member of Horvath & Giacin, is joining EisnerAmper as a partner. He founded the firm in 1989. The Pennington,

A reader wants to know how to get rich in a small business. “I want to start a small business and hope to become wealthy.  Do I need to start a certain type of business? Do I have to give up my personal life? What does it take to get rich?”  – Marcus from Coeur

This is what CPAs should be focused on. The client’s perceived value is not in compliance. It is in how they can use you to build the value of their business, help them make more money, give them time back to enjoy their life or free up time so they can implement their next vision.

The IRS has just released the standard mileage rates for 2020. The big change is the business mileage rate and some moving and medical expenses dropped.  IRS Mileage Rate For 2020 The IRS mileage rates for 2020 for business vehicle use are: 57.5 cents per mile of business use. That’s a drop of 0.5 cents

The IRS will return sequestered funds to businesses that were affected by a recent Office of Management and Budget determination regarding the Balanced Budget and Emergency Deficit Control Act of 1985. The OMB determined that the refundable corporate minimum tax credit claimed under Sections 53 and 168(k)(4) of Title 26 of the U.S. Code as

Career goals vary from person to person, but we all have the same end goal in mind: retirement. Helping your team work toward that goal means offering retirement benefits. But as a small business leader, you likely can’t afford to set up a defined-benefit plan like a pension. The alternative? A 401(k) plan. Although 401(k)

Users of Thomson Reuters Tax & Accounting’s Virtual Office CS and GoFileRoom solutions experienced an outage on Jan. 11, 2020, continuing till at least Jan. 13. Thomas Reuters confirmed that its software had experienced service disruption, but did not not specify why. According to the company, Thomson became aware of a “technical issue” with the

Due to changes in various tax rules made by the Tax Cuts and Jobs Act, the IRS has completely redesigned Form W-4 for 2020, which is used for income tax withholding purposes. The new form is intended to be more transparent and produce greater accuracy in withholding. Employers need to know when and how to

Thomson Reuters has introduced a new product, GoSystem Tax RS, which provides virtual currency organization for 1040 preparation. While legislation around cryptocurrencies have been slow, the IRS has introduced a new question on the 1040 form around whether an individual has invested in cryptocurrency. Now there is no way around it: Cryptocurrency investments must be

The National Society of Accountants Foundation announced on Wednesday that it is accepting applications for its 2020-21 student scholarships. Scholarships will provide financial assistance to American and Canadian accounting students. Applicants must be currently enrolled in an accounting degree program at an accredited two- or four-year college or university. Applicants will be judged on factors

Opinions expressed by Entrepreneur contributors are their own. Startup Costs: $2,000 – $10,000Home Based: Can be operated from home.Part Time: Can be operated part-time.Franchises Available? No Online Operation? No THE BRIEF  If you have an affinity for numbers and want to help other businesses big and small keep their financial records in order as they

Top 100 Firm Rea & Associates continued its 16-year “Help Can Hunger” food drive this year, a friendly competition that benefits local nonprofit organizations and food banks. The food drive, organized and managed by Rea staff members, collected 34,496 pounds of food, marking more than 370,000 pounds of food donated since the program’s inception. The

In 2016 more than half or 53% of small business owners said they supported then-candidate President Trump. Six months after he was elected 47% approved of the job he was doing, and the Q4 2019 CNBC/SurveyMonkey Small Business Survey has revealed it now stands at 60%; a 13% increase. A new study of the 50

The tight labor market prompted wage growth at small businesses to accelerate in December and reach an all-time high on the monthly Paychex | IHS Markit Small Business Employment Watch. The report, released Tuesday, indicated steady growth in both hourly earnings and hours worked by employees at small businesses, with hours worked in December posting

Having a great, well-thought-out succession plan for your business shows a lot of care and respect for the people that you love and care about. With a proper agreement, the beneficiaries will be your family, your staff, your clients and every supplier from your landlord to the office supply company that you use. It isn’t

The economy is strong and the unemployment rate is at a record low. Are all the economic indicators having a positive impact on your business? In this week’s poll, the question goes to the heart of what small business owners went through in 2019. With that in mind, How Did Your Business Perform in 2019?

Grant Thornton, Chicago, announced several leadership changes. The firm appointed David Hazels, who joined the firm in 2002, as national managing partner of advisory services, responsible for the strategic direction and operations for a range of service areas. He takes over the role from Jim Peko, who has been appointed COO, and has been with

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has teamed up with Deloitte Risk & Financial Advisory on publishing new guidance on managing cyber risks in a digital age. The guidance, aimed at board directors, particularly audit committee members, as well as executive management and cyber practitioners, discusses how companies can apply COSO’s

Putting your spouse on payroll can be a wonderful strategy, or a nightmare that could cost you thousands. December 21, 2019 7 min read Opinions expressed by Entrepreneur contributors are their own. Rather than your true love sending you a partridge in a pear tree, wouldn’t you appreciate some money-saving tax tips? For my year-ending

Out of all your responsibilities as a business owner, there’s nothing more important than invoicing. Without invoicing, you won’t be able to get cash to flow into your business. Without that cash, you won’t be able to grow your business — let alone keep the doors open for very long. Invoicing, however, is more than just getting

Atlanta-based Top 100 Firm Aprio LLP has combined with North Carolina CPA firm LBA Haynes Strand LLC. A full-service accounting firm, LBA Haynes Strand has nearly 70 employees in five offices across the state, in Charlotte, Greensboro, Mt. Airy, Winston-Salem and Asheboro. All the firm’s employees will join Aprio, including 13 partners, and CEO John

Ask your accountant what organizations qualify, how to give and what documentation is needed. December 19, 2019 3 min read Opinions expressed by Entrepreneur contributors are their own. As an entrepreneur, small-business owner or investor, it’s important to ask your CPA before year’s end about your options for donating to charity. By donating to charity,

It happens every year, but somehow small business owners are always surprised; it’s that thing called tax season. No one likes it but everyone must do it. How can your company best prepare for it now? On the Small Business Radio Show this week, Jaime Lizotte, the HR & Tax Compliance Solutions Manager at ComplyRight

Lukka, which makes blockchain products for the cryptocurrency ecosystem, has debuted a do-it-yourself tax preparation product for taxpayers reporting cryptocurrency assets on IRS Forms 1040 and 8949. LukkaTax will be available for the 2019 tax season. LukkaTax was developed in partnership with CPA.com, the technology arm of the American Institute of CPAs. The alliance, announced

As the profession looks ahead to a period of tremendous — and sometimes frightening — change, a little advice from accounting leaders can certainly come in handy.As part of this year’s Top 100 Most Influential People survey, Accounting Today asked, “What one thing would you recommend accountants do to prepare for the future?” Two pieces

States across the country made plenty of changes this year in the imposition of sales taxes on online purchases after the Supreme Court’s ruling last year in the case of South Dakota v. Wayfair, according to a new report. The 2020 Sales Tax Changes report, from tax technology provider Avalara, found economic nexus laws continuing

Keep your eye on this 2020 tax calendar. Otherwise you may miss any deadlines that could trigger penalties. Or cause the loss of time-saving opportunities. 2020 Tax CalendarayIncome Tax Returns Not all types of businesses have the same filing deadline for their income tax returns: If you are a calendar-year partnership or limited liability company

The Financial Accounting Standards Board opened a formal search for the next FASB technical director, who serves as the principal advisor to the FASB chairman and board. Reporting to the FASB chairman, the technical director is also the primary representative of FASB to stakeholders — which include regulators, accounting firms, companies and investors — in