Firms should have orderly processes for transitioning partners into retirement to maintain the confidence of clients and the trusted advisers who will continue to serve them.
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Practice Management & Professional Standards
Closing the gap between accounting education and the workplace
Accounting educators can better prepare students for the working world with courses that present increasingly complex real-world scenarios and develop the skill of asking questions and learning from prior mistakes.
Documentation and recordkeeping for tax practitioners
The AICPA provides extensive guidance to help practitioners structure a record-retention policy that complies with the Internal Revenue Code and the AICPA Code of Professional Conduct.
Working remotely: A tax practitioner’s checklist
Despite the trend toward working from home and other nonoffice locations, tax practitioners still must meet professional requirements.
Leading the new, flexible tax practice
Executives have an opportunity to transform their organizations. The key is to focus on culture and innovation.
Tax practitioner issues related to Sec. 1202 exclusion reporting
The lack of guidance and regulations and the unwillingness of some companies to provide information to shareholders places taxpayers and tax practitioners in a difficult situation.
Practice and policy insights from academic tax research
Federal, state, and international tax issues are often examined, as well as the impact of nontax developments on tax policy and behavior.
Proposed AICPA tax standards address new concerns
The AICPA is seeking comments by Dec. 31, 2022, on proposed changes to the Statements on Standards for Tax Services, which have been reorganized and amended to reflect the current state of the profession and the emerging needs of today’s members.
2022 tax software survey
CPAs assess how their return preparation products performed.
Show value, add value, and bring value: Part 3
A firm could provide more value for clients and increase its profit margins by combining value pricing with tax planning.
Proposed revisions to the AICPA tax standards
The AICPA released proposed revisions to the SSTSs for public comment on Monday. The proposal includes new standards on data protection, reliance on tools, and representation of clients before taxing authorities.
Guide released for tax pros’ information security plan
A downloadable booklet describes the Gramm-Leach-Bliley Act’s safeguards rule and includes a template for a firm’s required written information security plan.
2022 tax software survey: Shares of respondents and product and company information
Bonus: The percentages for all products, including a breakdown of their usage among firms ranked by ranges of numbers of preparers, in the 2022 tax software survey.
Protecting a taxpayer’s privileges
Protecting a client’s tax privileges is a fundamental duty of the CPA tax professional, and it is critical that the CPA understand the privileges that are available to a client-taxpayer.
Conflicts of interest: A practical approach for small firms
Even small firms should have a conflict-of-interest policy in place because Circular 230 holds tax leaders within a firm responsible for establishing procedures that ensure firm members comply with the rules.
Show value, add value, and bring value: Part 2
After guiding clients through two years of struggle and turmoil, now is the time for CPA firms to build on those relationships by further highlighting the value proposition they provide.
Show value, add value, and bring value to your team
Firms can obtain exponential returns by involving staff in the development of the firm’s strategic mission and showing a commitment to their future professional success.
Best practices for engagement letters, POAs, and tax return extensions
This article discuss how and why to use engagement letters, choosing whether to represent a client via POA or tax information authorization, and the benefits of tax return extensions.
Integrating technology into accounting curriculum as CPA Exam evolves
Accounting education programs must evolve to incorporate technology requirements in alignment with the revised CPA Exam and the New Model for Licensure.
Keeping on top of tax changes
Members of the AICPA Tax Practice Management Committee share strategies for how they continue to keep clients, and themselves, up to date with the many tax law changes of the last several years and the many possibly to come in the near future.
employee benefits & pensions
Profits interests: The most tax-efficient equity grant to employees
By granting them a profits interest, entities taxed as partnerships can reward employees with equity. Mistakes, however, could cause challenges from taxing authorities.
