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Many CPAs are still catching their breath after what may arguably be one of the more difficult tax seasons. It goes without saying that the Tax Cuts and Jobs Act (TCJA) which passed into law on December 22, 2017, (Pub. L. 115–97) was a “game changer” for the profession. Tax professionals have been tasked not … Read more

Like most CPAs, we have been watching the news unfold around the recent Wolters Kluwer (CCH) outage that began on Monday, May 6. According to their public statements, when the company discovered some “anomalies” in certain software platforms and applications, they proactively shut down their software platforms and applications and notified law enforcement. Although the … Read more

By Emily Franchi The #MeToo, Time’s Up, and It’s On Us movements are continuing with full momentum, keeping harassment prevention in the forefront. Zero tolerance is the new norm, meaning employers are having their feet held to the fire to ensure employees are interacting respectfully and professionally. Thus far, 32 states have adopted various state-specific … Read more

With data privacy protection initiatives spreading across the U.S., it is important for CPA firms to continue developing a set of best practices to ensure the privacy and security of the personal information they collect, use, or store. While some CPA firms are still trying to get their arms around the compliance requirements associated with … Read more

Many clients look to CPAs as the natural choice for the role of “trustee” to manage the assets and carry out their clients’ wishes. For CPAs good at managing and minimizing the unique risk attributes of a trustee role, trustee work can be satisfying and rewarding. On the other hand, if CPAs underestimate trusteeship risk, … Read more

Client screening is an important practice management tool and is the first step in an effective loss prevention program. It can also be used to identify less desirable clients that may be keeping your firm from developing the type of clients you want. Re-evaluate your relationships with clients on a regular basis—at least annually, or … Read more