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Wednesday, May 6, 2015

A decade's worth of tax returns provides an interesting insight into how people prefer to work

More and more Americans are moving away from traditional jobs, and choosing to be self-employed or do freelance work instead.
According to the Bureau of Labor Statistics, self-employed workers now make up 10% of the workforce overall. 
That's nearly 15 million workers in the US.
Those numbers have grown considerably over the past decade, as shown in the two charts below from Zen99, a startup offering tax help to freelancers.
The number of people claiming self-employment income on their tax returns rose steadily between 2002 and 2012, the latest data available.

To read full article, click here.
Source: Antonia Farzan (www.businessinsider.com)

Thursday, April 23, 2015

3 Tips For Reducing Turnover At Your Company

Is your company losing talent? Are your employees quitting and moving on to your competitors?
Here are some tips for reducing turnover at your company from Donna Levin, VP Care.com Workplace Solutions and Co-Founder of Care.com.

1. Understanding WHY employees leave in the first place.

If you’re having retention problems, you need to think about WHY your employees are running for the door.
“People don’t leave companies; they leave bad situations, dead-end jobs, and micromanagers,” says Levin. “They leave to find greener pastures, professional development and work-life balance.”
Understanding what’s triggering people to quit in favor of a new opportunity will help you improve deep-seeded problems within your culture. Fixing these problems will make recruiting and retaining talent much easier for you...

To read full article, click here.
Source: Ariella Coombs (www.careerealism.com)

Tuesday, April 21, 2015

Google Search Changes to Affect CPA Firms

Tax season is finally over. For many, now is a time for some relaxation before ramping back up for summer work.
For those that just don’t feel comfortable relaxing and are looking for something new to worry about now, you can start worrying about your website now. According to Google, on April 21, their mobile search platform will start favoring mobile-friendly websites.
What does this mean exactly? It means that websites that are not optimized for mobile and tablet devices will move down in the Google rankings and, by extension, those sites that are mobile optimized will move up...

To read full article, click here.
Source: Melissa Hennig (www.accountingtoday.com)

Friday, April 10, 2015

Scholarships for Finance, Accounting Students Can Add Up

Tax Day​ is just around the corner, which means a busy time is ahead for everyone involved in the process. For some, it’s a period filled with dread. For others, it can be a productive opportunity to put their math, business and law skills to good use.
If you’re in the latter category, you’re in luck. The Scholarship Coach has gathered up several scholarships for aspiring finance professionals. Whether you’ve already paid Uncle Sam or are just getting started with your taxes, taking additional time to research scholarships this tax season can help pave the way for your financial and educational success...
To read full article and see scholarships, click here.
Source: Carissa Chang Cress (www.usnews.com)

Tuesday, April 7, 2015

10 Things You Always Wanted to Know About Late Tax Season Filing

On April 1, the American Institute of CPAs (AICPA) issued a press release, “10 Important Things for Tax Procrastinators to Know,” that provides answers to 10 critical questions relating to the upcoming tax return deadline. You can pass along this timely information to habitually late clients and April walk-ins.
1. What’s the best way to send a tax return to the IRS? The IRS strongly encourages taxpayers to file online at www.irs.gov/Filing or through a professional tax return preparer, like a CPA. If the taxpayer prefers to submit a return through the mail, some post offices will stay open later on April 15. You can also use one of the IRS-designated private delivery services...

To read full article, click here.
Source: Ken Berry (www.accountingweb.com)

Thursday, April 2, 2015

Why Character Should Matter to Your Firm and to Your Employees

You probably expended considerable time and energy developing your firm’s reputation and cultivating a professional image. Well and good. Character represents a third key element and is vital even in the midst of tax season … especially in the midst of tax season.
Character, it has been said, is who you are when no one else is watching. As an accountant, what is your character like? How about that of your firm?
Kindness for Its Own Sake
A friend of mine returning to a conference in Nashville, Tennessee, did not have the appropriate change to give the taxi driver, and this particular cabbie did not accept credit cards. My friend was $3 short and flat out of options...

To read full article, click here.
Source: Jeff Davidson (www.accountingweb.com)

Tuesday, March 31, 2015

Big Changes on the Way for Nonprofit Accounting


The Financial Accounting Standards Board is getting ready to unveil a set of proposals that could have a major impact on the way nonprofit organizations present their financial statements.

The board voted earlier this month to issue a proposed accounting standards update that would include improvements to the current net asset classification scheme and the required information about an organization’s liquidity, financial performance and cash flows (see FASB Proposes Accounting Standards Change for Nonprofits). FASB plans to issue the proposals in mid-April and ask for public comments.
FASB’s announcement provided few details and instead directed interested parties to the project page on the FASB Web site. Lee Klumpp, National Assurance Technical Director in BDO’s Nonprofit & Education practice, has been closely involved with the project as both a FASB fellow and at BDO, and he filled in Accounting Today on what to expect. He was the project manager for the first year and a half of the project at FASB...

To read full article, click here.
Source: Michael Cohn (www.accountingtoday.com)