Jennifer Wilson of Convergence Coaching recently published an article in the Journal of Accountancy advocating that auditors should do more work remotely.
Her key points were:
- We have the technology.
- Its more time and cost efficient.
- Some client’s audit locations are less than ideal.
- Firms (CPA) can gain staffing flexibility.
- Many of your clients will be relieved.
… Read more >
If you are a small business owner or a higher wealth individual, I strongly recommend that you stay in touch with your tax advisor over the next few weeks to properly balance your 2017 and 2018 tax bills.
If you are someone who owns a home and is able to itemize, there are a few things you can do before year end to minimize your federal income tax bill in 2017.… Read more >
Federal law does not prohibit asking a job applicant about their salary history and it has been a common question on job applications. But that is changing with recent rules passed by New York City and other jurisdictions.
The ban on asking for salary history comes from the fact that women and minorities have historically been paid less.… Read more >
Each year the Social Security Administration (SSA) sets the maximum amount of wages subject to social security taxes (old age, survivor, and disability insurance). For 2018, the wage base is going up from $127,200 in 2017 to $128,700. Keep in mind that the employee and the employer each pay a 6.2% tax on the eligible wage base up to this maximum. … Read more >
The Financial Accounting Standards Board has issued new rules related to accounting for leases. The rules take effect for public companies beginning 12/15/18 but will require some consistency in reporting so firms are changing to account for their leases in the new manner in 2017. For non-public companies, the rules take effect 12/15/19.… Read more >