Accounting, Audit & Advisory

If you can’t respond to my requests because you are on spring break in Hawaii with your 4 kids, and when you get back and finally get around to calling me and I tell you that you owe $50k, and you have the nerve to be mad at ME – you can fuck right off. #TaxTwitter Friendly reminder that your Tax...

The world’s largest accounting and professional services firms in terms of revenue and workforce, these prestigious firms are renowned for offering high salaries with a generous bonus structure. Deloitte is top of the list, and MBA salaries there are competitive. Deloitte Strategy & Analytics...

The auto world will know by Friday where the Biden administration stands on some of the toughest policy questions surrounding the U.S. transition to electric vehicles. Ever since Senator Joe Manchin shocked Washington by clinching a left-for-dead climate deal, lobbyists have tried to tweak rules...

The shortage of people entering the accounting profession and pursuing CPA licensure has reached the proportions of a crisis, and Sue Coffey, CEO for public accounting at the Association of International Certified Professional Accountants dives into why — and what accountants and firms can do...

Reminder: you have until April 17 to weigh in on a proposal to extend the CPA exam window Is it time for firms to transform their business model? [Journal of Accountancy] Pandemic pressures have worn the workforce thin, and the economy is in the thick of rapid, radical change. It’s time for firm...

The following message is for current and aspiring CPAs: it isn’t often that anyone asks your opinion unless it’s a client trying to get free work out of you but there is an issue in need of your immediate attention and feedback. NASBA is soliciting comments on a proposal to extend the CPA exam...

Every year brings changes in the patterns of which tax returns need to be filed, but those changes were exaggerated in the first years of the pandemic. From 2020 to 2021, seven different tax return types varied by more than 20% (up or, in one case, down) in terms of how many were filed year over...

was appointed director of the Division of Enforcement and Investigations at the , effective March 31, 2023. He succeeds Mark Adler, who has served as DEI's acting director since September 2022 and previously held several senior roles within the division from 2010 to 2020, including acting director...

What would you say if I told you the secret in every superior firm of any size or longevity was something you can't buy? Something that, when present, accelerates business and relationships, makes teams function at the highest level, causes the best clients to stick with you, retains your best...

Treasury Secretary Janet Yellen said regulators aren't looking to provide "blanket" deposit insurance to stabilize the U.S. banking system without working with lawmakers, and that the heads of recently failed American lenders should be held accountable. "I have not considered or discussed anything...

On March 20, New York Attorney General Letitia James filed a motion to compel (aka “gonna need the court to make someone do something thx”) Whitley Penn to hand over documents and communications relating to her civil fraud case against their client Donald Trump, three of his adult children, and...

Protecting our environment, supporting resilient communities, and solving real-world problems will be the focus of a new Space Tech hub created by Swinburne University of Technology and EY Australia. Supported by $3 million from EY, the hub will leverage Swinburne’s global leadership position in...

In an unusual move, California State Treasurer Fiona Ma, a CPA, has weighed in with an amicus letter filed March 14, 2023, in support of a lawsuit that's taking direct aim at a massive tax break enjoyed by online retailing giant Amazon. Stanley Grosz, a Fresno camera store owner with no financial...

Ed. note: the following is a guest post by Jack Castonguay, PhD, CPA, who has not yet been replaced by ChatGPT as far as we know. Or has he? Was ChatGPT sent to us from the future to rescue the industry from the pipeline crisis by filling open accounting jobs with cyborgs and sentient machines?...

Almost half of North America's biggest institutional and wholesale investors worry they'll face legal consequences if they consider environmental and social factors, as the political backlash against ESG broadens, according to a fresh global survey of firms overseeing $27 trillion. In Europe and...

The Organization for Economic Cooperation and Development is making plans for easing multinational companies and government tax authorities into its plans for a global minimum tax. Last Thursday, the OECD held a public consultation meeting on compliance and the tax certainty aspects of the global...

It’s no secret the pandemic screwed a lot of things up. Firms suddenly had to figure out how to manage an entirely remote work force, CPA exam candidates couldn’t test for months due to Prometric closures, and let’s not forget the poor interns and first years who had to wait for answers in Teams...

Three years after the pandemic threatened a cataclysmic hit to U.S. state and local governments, their finances look rosier than they have in decades. Balances in rainy-day funds hit all-time highs in 37 states by the end of the 2022 fiscal year. That's the biggest tally in over two decades and...

When does doing a little work on vacation turn into a stay that piques the interest of local tax authorities? And does a U.K. company, for example, face tax complications abroad if they have staff and key decision makers are dotted across Europe working remotely? National tax authorities and the...

Unfortunately, any tax planning for your 2022 personal tax return needed to be done by December 31st of 2022 and there is very little, if any, planning you can do in March and April of this year. Today, I will review a few deductions and tax credits people sometimes leave on the table. None of...

There’s a lot happening this week. Which YAY because hooooo boy can it get boring around here when there isn’t. First things first, check out what the AICPA is working on and when you’ve had a chance to review their idea, reach out with your feedback if you want. Comments are closed on Footnotes...