In Nine Easy Steps You have probably heard how helpful it can be to write blogs, either for yourself or your valuation and accounting firm. If you have never written one, the challenge can seem daunting. But you probably will find it easier than you think—especially if you follow these steps. The article outlines the steps; these are based on a How-To Guide from Hinge University, their online learning platform.
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The EU is making increasingly positive noises that a Brexit deal is within reach. But don’t breathe easy just yet—there are still battles to come when Prime Minister Theresa May brings her deal back to Parliament. To read the full article in Bloomberg, click: Brexit Bulletin: A Deal, and Then the Drama.
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LPL Financial has made three major recruitment moves—unveiled over a two-day span—to add at least 125 advisors with about $4.5 billion in client assets to the largest independent broker-dealer. To read the full article in FinancialPlanning, click: LPL Grabs More than 100 Advisors with $4.5B in Latest Haul from Rivals.
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Eight years after Congress passed the Foreign Account Tax Compliance Act (FATCA, which was enacted as part of the Hiring Incentives to Restore Employment Act, P.L. 111-147) to address the potential for tax evasion, lack of planning in response to evolving FATCA guidance may be putting some financial institutions at risk of noncompliance and potentially steep penalties. To read the full article in The Tax Advisor, click: Regulatory Fatigue? FATCA Inaction May Risk Noncompliance.
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and an Expert Witness While there are hundreds of Daubert decisions issued every week, only a few go a long way in shaping the way experts are screened by judges in the future. And even fewer times, a multimillion-dollar verdict is hinged solely on the expert witness testimony! In this article, the author discusses the district and appellate court decision in Alaska Rent-A-Car v. Avis Budget Group.
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December 2018—U.S. Tax Court on Qualified Appraisals and Gill v. Gill, Minnesota’s Supreme Court Rules on the Status of Earn-Outs in Dissolution Cases The U.S. Tax Court issued two valuation memorandums in September and October 2018. Each memorandum serves as a reminder of the importance of attaching a qualified appraisal. The issue in Presley v. Commissioner, T.C. Memo. 2018-171 (October 15, 2018) was whether petitioners were entitled to charitable deductions claimed in 2010 relating to land improvements paid before 2010 that benefitted a religious charity. We cite pertinent portions of this decision since it involves tax planning and the importance of…
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It is increasingly important for accountants to have soft skills such as problem-solving acumen, flexibility, and the ability to communicate well. Rian Powell, senior director of recruiting at Chicago-area staffing and recruiting firm LaSalle Network, explains the right questions to ask during job interviews to assess candidates’ soft skills. To read the full article in the Journal of Accountancy, click: How to Interview for Soft Skills.
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They say pursuing fitness goals contributes to work performance. Accountants are better known for their skill with numbers than their physical abilities, but many make exercise part of their routines. And some have achieved remarkable feats of athleticism. These five accountants have competed in extreme sports events, become professional athletes, or simply challenged themselves physically. They share their stories, as well as their best tips for staying in good physical and mental shape. To read the full article in the Journal of Accountancy, click: Not Desk Jockeys: These Accountants are Athletes.
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Help arrogant employees learn to listen. Self-confidence is a valuable trait in the workplace, but, in some employees, self-confidence manifests itself as arrogance. If employees act as if they know better than anyone else, shooting down others’ ideas, or stealing the spotlight at meetings, morale can suffer. To read the full article in the Journal of Accountancy, click: How to Coach a Problem Employee: The Know-it-All.
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of the Current Marijuana Business (Part II of II) In November of 2018 there are some 28 thousand marijuana/cannabis businesses in operation and employing about 150,000 people in the United States and they manage and control some nine billion dollars in essentially cash revenues. This industry continues to grow. In this second part, the author illustrates the importance of choice of entity, provides an overview of the taxation of a cannabis business, and provides readers a high-level breakdown of the patchwork of state laws.
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Un-Impeaching Opinions of Calculated Values Valuation or calculation? That is the question asked, answered, and argued by judges, experts, lawyers, and industry thought leaders apropos to whether a calculation of value can be used in litigation. The answer echoed throughout courtrooms across America thus far is a resounding “it depends.” This article offers a synopsis of the debate over calculation engagements being used in litigation. The full version appears in The Value Examiner, September/October 2018 issue.
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Many nonresidents who come to the United States as scholars, appeal to the Tax Court claiming benefits under a tax treaty. Three recent cases provide tips to decide if it is worth the time and effort to appeal to the Tax Court. Three different U.S. tax treaties are covered: those with Russia, Poland, and China. To read the full article in The Tax Adviser, click: Researchers and Scholars Claim Tax Treaty Benefits.
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CPAs around the United States are raising alarms about a recent wave of deregulatory legislative proposals that are endangering the profession. While these proposals have not affected the profession yet, CPA profession leaders warn that the danger is far from over. To read the full article in the Journal of Accountancy, click: States’ Deregulatory Push Threatens CPA Licensure.
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On Nov. 24, 2014, a woman named Diana received a menacing phone call in Hernando, Miss., a small city nestled in the northwest corner of the state. A caller purporting to be an IRS agent claimed she owed back taxes and told her that agents were waiting to arrest her unless she paid up immediately. The caller was insistent, threatening, and urging her to act quickly. To read the full article in the Journal of Accountancy, click: How TIGTA Stymied and IRS Impersonation Scam.
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of the Current Marijuana Business (Part I of II) In November of 2018, there are some 28,000 marijuana/cannabis businesses in operation, employing about 150,000 people in the U.S., and they manage and control some $9 billion in essentially cash revenues. This industry continues to grow. In this two-part article, the author provides a brief overview of the history of this industry and tax issues CPAs and consultants must know. In the second part of this series, the author illustrates the importance of choice of entity and provides an overview of the state laws governing possession, sales, and distribution of cannabis.
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to Your Differentiation Strategy Among executives in the accounting and finance firms, creating and implementing a relevant differentiation strategy continues to be a struggle—however, this does not have to be the case. At its simplest, creating and implementing a differentiation strategy is a five-step process. In this article, Dr. Frederiksen describes these steps.
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As a trusted adviser, a CPA is often the first resource clients turn to for many financial issues. While often these questions are in the context of a service the CPA may already be engaged to provide (tax compliance, estate planning, etc.), it is not uncommon to receive other requests that seem simple but can carry unique challenges. To read the full article in The Tax Adviser, click: Third-Party Verification Requests.
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Blockchain is forecast to transform many industries by providing fast, verifiable transfer and tracking. At its core, blockchain is a distributed ledger that records transactions between every user in the chain. Although it’s commonly regarded as a single technology, there are different types of blockchain: public and private. To read the full article in In The Black, click: What’s the Difference Between a Private and Public Blockchain?
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CPA candidates in Europe will no longer have to undertake intercontinental travel to sit for the CPA Exam. To read the full article in the Journal of Accountancy, click: Launch of CPA Exam in Europe Provides Convenience for Candidates.
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Alexa Voice AI Makes Conversational Valuation Possible What if your valuation reports could have a two-way conversation with your clients? How would that improve the usability of your work product? Could it increase the value of your firm’s intellectual capital? In this, the author discusses how Alexa Voice AI can deliver a calculation report to a client.