In Brief Of the many kinds of technologies that professionals have encountered in recent years, artificial intelligence (AI) ...

In Brief While still in the early stages of its development, generative artificial intelligence (GenAI) shows promise in ...

As early as 2006, the IRS has recognized that “foreign outsourcing is not prohibited by … final regulations, which permit ...

The accounting profession stands at an inflection point. We're facing both a generational pipeline crisis and an accelerating ...

In Brief While still in the early stages of its development, generative artificial intelligence (GenAI) shows promise in empowering professionals by helping them recognize patterns… ...

The Basics The core of IRC section 121 is fairly simple. Individual homeowners can exclude from gross income up to $250,000 of gain ($500,000 for certain married couples filing jointly) provided that ...

The accounting profession stands at an inflection point. We’re facing both a generational pipeline crisis and an accelerating wave of technological disruption. Emerging technologies—artificial ...

Income Tax Returns Income tax reporting for the year of the decedent’s death will most likely reflect a split year. A new taxpayer—the decedent’s estate—comes into being on the date of the decedent’s ...

The SEC’s new cybersecurity rules require public companies to promptly disclose cybersecurity incidents and detail their risk management strategies. These rules mandate reporting significant cyber ...

In May 2024, the PCAOB revised its quality control standard, A Firm’s System of Quality Control. PCAOB-registered CPA firms should follow this standard, which is outside the scope of this article, ...

Who Is a Bad Client? Why are these clients so bad for CPA firms? Because they provide undue stress and strain on the entire staff. Not only do CPAs and staff have to track down the client’s ...