“We regret to inform you, but your financial data might have been stolen.” It’s a scene straight out of your worst nightmare. It’s something that giant auditing firm Deloitte and a small Connecticut-based accounting firm had to deal with when they were hacked. Data breaches affect firms of all sizes, reiterating that the need for stronger cybersecurity for accounting firms is more real — and pressing — than ever.
We have a few more weeks left before 2018 winds to a close. To some, this simply means parties and celebration. But to business owners and managers, this means a lot of tax planning–and that’s what this manager’s guide to year-end taxes is about.
Year-end planning for taxes can be intimidating and daunting. If 2018 felt like it just flew by, it will feel even faster once you realize how much work you still have to do to prepare for 2019. To that end, approaching this part of the business systematically will help ensure that you get everything done efficiently.
Blockchain technology for accounting firms: The explosion of cryptocurrency propelled blockchain technology into the mainstream, and tech-savvy accountants were quick to recognize how it seamlessly integrates with their profession. The auditing world’s Big Four and other early adopters have started experimenting with blockchain way ahead of everybody else. What are the benefits of blockchain technology for accounting firms that are getting industry leaders excited?
“Nothing is certain but death and taxes” — so the old proverb goes. However, for many accountants, the meticulous work that goes into preparing their clients’ tax returns can oftentimes feel like death. With Americans spending a whopping 6 billion hours preparing tax returns, it comes as no surprise that more taxpayers turn to the services of accountants and accounting firms. While this could mean more clients for your accounting firm, it also equates to a heavier workload for your accountants. To help you and your team, here are 3 productivity tips for CPAs this tax season to lighten and streamline your load and make you more efficient this tax season.