Tax Technology & Practice Management

Financial Accounting Standards Board Proposes Clarification on Consideration Payable to Customers Under Topic 606

The Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) aimed at resolving ambiguities surrounding the accounting treatment of payments made on behalf of customers or…

The American Institute of CPAs Honors Kimberly Ellison-Taylor and Gene Dodaro with Highest Accolades

The American Institute of CPAs (AICPA) has bestowed its most prestigious honors, the Gold Medal Award of Distinction and the Honorary Gold Medal, upon two distinguished leaders in accounting and…

How to Make More Tax-Savvy Investments

The core of effective financial planning, especially when navigating the complexities of taxation, lies in understanding the differential treatment of various investment types. Some assets are prone to generating unpredictable…

Trump Administration Eases Recordkeeping for Tax-Exempt Red Diesel to Combat High Fuel Costs

The Trump administration is implementing temporary relief from recordkeeping requirements for businesses purchasing tax-exempt red diesel, a strategic move aimed at alleviating high diesel prices and encouraging wider adoption of…

Navigating the Frontier: Ensuring AI’s Safe Integration into Accounting Practices

Artificial intelligence is rapidly transforming the landscape of accounting, ushering in an era of unprecedented efficiency and automation. From drafting routine client communications and summarizing complex IRS notices to generating…

Intuit Re-launches Credit Karma Tax, Offering Free Federal and Flat-Rate State Filing with AI-Powered Assistance

Global financial technology giant Intuit has announced the re-launch of Credit Karma Tax, a move that reintroduces a significant player into the competitive landscape of do-it-yourself tax preparation. The service…

The Federal Deduction Dilemma: Navigating State Tax Divergences for Heavy Asset Purchases

Every December, tax preparers grapple with a recurring challenge: a client’s purchase of a substantial SUV or significant piece of equipment before the year-end. While the federal deduction is often…

IRS Initiates Adoption Tax Credit Carryforward Refunds for Over 50,000 Taxpayers

The Internal Revenue Service (IRS) has commenced the distribution of refunds to more than 50,000 taxpayers who are eligible for the adoption tax credit carryforward. This initiative, expected to conclude…

The Top 10 Concerns for Public Accounting Firms in 2027

Phew, another tax season done! Yay! And for many of you, this was a tough one (I hear you, Marty)! Because of personal circumstances, I’ve had more time with my…

Squire Leaders Honored by Utah Association of CPAs for Distinguished Contributions

Squire, a prominent firm recognized among the INSIDE Public Accounting top 200, has announced that three of its distinguished leaders – CEO Jonyce Bullock, Southern Region Managing Partner Phillip Peine,…