By Nick Spoltore Early on November 2nd, a press release from the U.S. House of Representatives Committee on Ways & Means provided policy highlights of the Tax Cuts & Jobs Act. The following are the hot-off-the presses details you and your clients need to know. The tax rates will be 12%, 25%, 35%, and 39.6% – retaining the current […]
Displaying: Recent Posts
QuickBooks Online vs QuickBooks Desktop: Which is Better for You?
By Ilene Eisen, CPA.CITP I have been working with QuickBooks clients for over 20 years and I have seen many changes in both the online and the desktop versions. I am a fan of both versions but when it comes to choosing which is best, it’s important to consider your company’s needs and the way […]
Nom de Persona: An Ultimate Plan for Usernames and Passwords
By Mary Trapani Usernames. I can’t sign up for that new, cool service because I cannot come up with even one more username. Passwords. The bane of many an existence. Change it every 30 days and you can’t use the same one as you ever did in the last 40 years. It’s a hassle. As […]
Recharacterizing Conversions with Market Losses (Deadline Approaching!)
By: Denise Appleby, CISP, CRC, CRPS, CRSP, APA As the deadline for recharacterizing a 2016 Roth IRA conversion approaches, practitioners will likely be consulted about whether individuals should recharacterize their 2016 Roth conversions. In cases where the Roth conversion amount has lost market value, a recharacterization might make good tax sense. In this article, we […]
Where Are We On the Trump Tax Reform Plan?
By Nick Spoltore On September 27, 2017, the Trump Tax Reform Plan (the framework of the “Big Six” group of Congressional and White House tax-reform precepts) was released. In the document, titled “Unified Framework For Fixing Our Broken Tax Code,” President Trump lays out four principles for tax reform at the core of this unified framework: 1. […]
Anticipating the Finalized Yellow Book Revision: What We Know Now
In April 2017, the GAO released an exposure draft for a revised Yellow Book (a.k.a., Government Auditing Standards). The document carried a comment deadline of July 6, 2017 and it is available at www.gao.gov. Although the exposure draft was issued at a busy time of the year for many, the GAO still received an impressive […]
The Equifax Breach: Take it Seriously and Take Action
by Mary Trapani Make no mistake – the Equifax breach is huge and will have a massive impact. It is very likely that you, a client, or someone you care about will be Equi-fected. I say this not to scare you but to call you to action! Some feel Equifax is a victim since they […]
The 4-Step Solution to Bringing Quickbooks to Your CPA Practice
Are you considering bringing Quickbooks to your CPA Practice? Here's a 4-step solution from Quickbooks expert Ilene Eisen, CPA.
(Video) Don’t Overlook These 3 Details in Topic 606, FASB’s New Revenue Recognition Model
When it comes to your implementation plan for Topic 606, the FASB's new revenue recognition model, here are 3 details not to overlook.