Are robots taking over the accounting world?

With the ever-growing advancements in technology, the workplace undergoes constant change. With technology being able to do things we once did manually, computers are able to do things automatically and in an efficient manner. Many people believe that with the introduction of robots in the accounting world, the profession could be forgotten. However, it will …

Keep Reading

Help! I need an Uber, the IRS is coming!

After going public last year, Uber reported in its first quarter report to the SEC that they were currently under audit by the IRS. The 2013 and 2014 returns are being examined but no other information is available at this time. I know what you all must be thinking; can they really go back that …

Keep Reading

New opportunities to use cash method of accounting

It’s time to start thinking about the most exciting time of year – tax time! As part of the modifications made by the Tax Cuts and Jobs Act of 2017 that generated so much news and discussion at the end of 2017, you may now be allowed to use the cash method of accounting for …

Keep Reading

Record retention for net operating losses (NOL)

Individuals are usually familiar with the general rule that they should keep their income tax returns and tax documents used to prepare those returns for 7 years (see our guide). This is the general rule because the IRS has the ability to audit and adjust tax returns for three years from the date you filed …

Keep Reading

Book challenge! Reviewing your accounting

I’ve seen it too many times, debits in the liability section and credits in the asset section of company books and no one really knows why. Accountants then have to dig down and dissect what happened (which is fine, just realize, time is money) and then put it back in the right place, some easier …

Keep Reading

Wanted: galactic accountant, tax in space

As they say, there is no escaping death and taxes. And that may apply even in space. All the talk that’s been going on for years regarding space tourism and colonization of the moon and Mars are getting closer to reality. Adam Chodorow, a law professor at Arizona State University, pointed out that “taxes matter, …

Keep Reading

The Accountant (the Movie) – True to Form?

I am an accountant. A CPA. So when we first started seeing the trailers for a movie starring Ben Affleck as an accountant, there was some buzz. Because Hollywood was not going to portray us in the same nerdy, stereotypical way. Excitement even! So as my family was winding down activities for Family Weekend at …

Keep Reading

Surviving Recruiting: Land the Job and Keep Your Sanity

Accounting is a unique industry when it comes to recruiting out of college. In very few other industries do you get so many companies that, in reality, maintain such a consistent line of work. Sure, every firm will have its quirks, and some offer lines of service not available in others, but almost every CPA …

Keep Reading

Looking for a Tax Career with a Public Accounting Firm?

Recently, I was honored to be part of a five person panel for the masters of accountancy and masters in taxation students at Arizona State University (ASU). Included on the panel were representatives from an international CPA firm, a national CPA firm, a regional CPA firm and a large corporate entity. And me, of course, …

Keep Reading

No Longer Tax Free – Nevada Enacts Commerce Tax

Nevada has been a favored place to transact business as an income tax-free state. That all ended on June 10, 2015, when Governor Sandoval signed a bill enacting a new “Commerce Tax” applicable to each “business entity” with Nevada gross revenue exceeding $4,000,000 in a taxable year. The Nevada Commerce Tax is a gross revenue …

Keep Reading