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Are you taking on too much?

Most of us have heard the phrase “jack of all trades,” and we usually use it as a term of endearment to compliment seemingly master multi-taskers. Most of us never hear the second half of that phrase, though, “master of none.” Trying to be successful at too many modalities can leave our clients and us feeling like we are not...

Topel Forman affiliates with Avantax for wealth management, financial planning services

Accounting firm Topel Forman L.L.C. has affiliated with Avantax Planning Partners℠, Avantax’s employee-based RIA (registered investment advisor) to provide comprehensive tax-focused financial planning and wealth management services to clients. Based in Chicago, Topel Forman is a full-service, 120-person public accounting firm whose services include tax, audit and advisory. Topel Forman chose to affiliate with Avantax because of its proven track...

Old school accounting firms are dead

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Talent shortages are impacting every industry across the nation. Forbes recently reported that talent shortages could create up to 85 million unfilled jobs over the next few years, resulting in trillions of lost dollars for businesses. To add to accounting firm challenges in this tough hiring market, the number one concern reported by CPA.com for accounting firms is staying...

AICPA lauds letter to Treasury and IRS urging penalty relief deadline extension

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The American Institute of CPAs (AICPA) applauded a bicameral letter, led by US Senate Finance Committee Ranking Member Mike Crapo (R-ID) and US House Ways and Means Committee Ranking Member Kevin Brady (R-TX), urging the Department of the Treasury and the Internal Revenue Service (IRS) to extend the deadline for COVID-19-related taxpayer penalty relief from Sept. 30, 2022 to mid- to...

Is your firm protected from cyberattacks?

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We all know that cybersecurity is a must for tax practices and CPA firms. With the inordinate amount of personal data we collect in tax preparation processes, tax practices are a major target for cybercrime. Many firms believe they are protected with basic firewalls and virus scanning software. Cybersecurity, however, is much more complex than it seems, and most firms...

5 things your clients should know about WOTC

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What if you could help your small business clients save money on their taxes and better compete for workers in a very tight labor market? The Work Opportunity Tax Credit can do just that.The Work Opportunity Tax Credit (WOTC) was first created as part of the Small Business Job Protection Act of 1996 and has been extended on a...

IRS extends relief to Puerto Rico following Hurricane Fiona

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Hurricane Fiona ripped through Puerto Rico this past week, leaving many without power and causing damage across the island. The last thing on most residents’ minds was the looming extension deadlines for September through October 15. The IRS has extended the deadline to file for Puerto Rico residents to February 15, 2023. Below is a list of return types that would...

Survey says: US tax executives lean into technology

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US tax executives’ top goal for their tax departments in 2022 is planning for domestic and global tax changes, according to BDO’s "2022 Tax Outlook Survey." With uncertainty around whether any of the tax provisions contained in last year’s now-defunct Build Back Better bill will move forward in smaller legislative packages, tax executives are finding it difficult to operate...

Security Summit: Beware evolving email, cloud-based schemes to steal taxpayer data

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As part of a special Security Summit series, the Internal Revenue Service, state tax agencies and the nation's tax industry warn tax professionals to beware of evolving scams designed to steal client data. The Security Summit partners continue to see instances where tax professionals have been vulnerable to identity theft phishing emails that pose as potential clients. The criminals then...

Multitask your commute without using your phone

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Even after working from home for nearly three years, there still seems to be commute time that shows up in the middle of my workday. Our morning routine includes getting the kids to school and getting mom and dad to a workout before we are both in our home office for the workday. With seemingly every day being too short...

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Are you taking on too much?

Most of us have heard the phrase “jack of all trades,” and we usually use it as a term of endearment to compliment seemingly...

Topel Forman affiliates with Avantax for wealth management, financial planning services

Accounting firm Topel Forman L.L.C. has affiliated with Avantax Planning Partners℠, Avantax’s employee-based RIA (registered investment advisor) to provide comprehensive tax-focused financial planning and...

Old school accounting firms are dead

0
Talent shortages are impacting every industry across the nation. Forbes recently reported that talent shortages could create up to 85 million unfilled jobs over...