“What comes to mind when you hear the word ‘fintech’?” Michael Ly asked the packed room during his session at the AccountingWEB Live Summit. Several people shouted out answers. “Intuit Quickbooks!” “Xero!” “Automation!” “Innovating!” Although fintech – or financial technology that delivers financial services, such as online banking – has
How well do you know your clients? You might be surprised by the answer. In almost every piece of market research we do, we uncover situations where professional service providers misjudged or misread their clients. But even we were surprised at the impact of market research on a firm’s bottom
A group of finance leaders are coping with a steady stream of economic disruptions this year and they’re planning ahead for tax hikes and more. Potential U.S. and international tax legislation is having an impact on nearly every organization surveyed, with 87% of the 257 finance decision-makers polled in the
In a session I presented at AccountingWEB Live Summit in San Diego earlier this month, I spoke about preparing your firm for acquisition or succession. One of the key points I elaborated on was automation and tech, which are everything when you’re in a service-based business. The more you automate,
At the AccountingWEB Live Summit in San Diego earlier this month, one of our main goals was to ensure the conversations professionals are having about accounting and finance in particular and “work” in general are forward thinking. It’s an overused statement at this point, but it bears repeating that the
Agents with the Internal Revenue Service’s Criminal Investigation division raided the Houston headquarters of tax consulting firm alliantgroup, seizing computer servers Friday and prompting the firm to give employees the day off Monday until they were able to return Tuesday morning. The nature of the investigation is unknown, but is
The IRS and employers are often at loggerheads over whether workers should be treated as employees or independent contractors, private-duty nurses included. When push comes to shove, an employer may have an ace in the hole: Section 530 relief. However, as shown in a new case, Pediatric Impressions Home Health,
The Internal Revenue Service issued potentially improper Recovery Rebate Credit payments totaling $898 million, according to a new report. The report, from the Treasury Inspector General for Tax Administration, noted that $79.8 million in Recovery Rebate Credits actually should have been paid to eligible individuals, but $818.5 million was paid
There are a variety of things the IRS can do if your clients fail to resolve back tax issues or choose not to respond to the myriad notices the service will send. The various ways the IRS uses to collect owed taxes if indeed there is no response or resolution
“Have you ever noticed accountants are doing a job that’s been done the same way for centuries, but the rest of the world doesn’t do that?” This was just one of the questions Penny Breslin posed to her audience listening to her talk on “Non-Tax Advisory Services to Offer to
