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  • Updated Exemption Certificates

    July 17, 2019

    Due to recent legislative changes, the Department of Revenue (DOR) has updated the Resale Certificate (Form 51A105) to include the services that are now exempt for resale, effective July 1, 2019.  

  • 9 attributes of successful corporate CPAs

    May 22, 2019

    Corporate CPAs play a pivotal role in their companies’ success, helping to drive business forward and contribute to its profitability. This is especially true when the CPA is in the position of chief financial officer (CFO). How does a corporate CPA/CFO enhance their skills in the C suite and/or on the board of directors? How do they develop long-term career-building relationships? Whether the employer is a for-profit or nonprofit organization, there are several attributes and qualifications that define (and can elevate) that professional’s value to an organization.

  • The hidden cost of the new revenue recognition standard   

    May 22, 2019

    The Financial Accounting Standards Board (FASB)’s Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606), applies to all contracts with customers unless the contract is within the scope of another standard (e.g., leases, insurance, finan­cial instruments). The standard became effective for public companies for the first interim period beginning after Dec. 15, 2017, and nonpublic companies in the years beginning after Dec. 15, 2018. Businesses can apply this ASU retrospectively, or they can elect to recognize the cumula­tive effect of applying the new standard to existing contracts in the opening balance of retained earnings on the effective date (with proper disclosures).

  • IRS: New requirement applies to any business seeking a tax ID number

    May 15, 2019

    The Internal Revenue Service wants small business taxpayers and the self-employed to know that, starting May 13, 2019 an important change will affect the way it issues employer identification numbers, or EINs.

  • The first estimated tax payment for corporations and limited liability pass-through entities is now APRIL 15

    April 1, 2019

    HB 354 changed the due date for the first estimated tax payment for corporations and limited liability pass-through entities. Under the old rule, the first payment wasn’t due until June 15.  That due date is now April 15.  The subsequent due dates are June 15, September 15 and December 15.

  • Why it's vital to get a CPA license

    March 26, 2019

    Why is it important to get a CPA license? What are the benefits of working toward this designation?

  • Working remotely is the future of accounting  

    March 26, 2019

    Once upon a time you had to be in the office to be a productive member of the team — but no longer! Tax technology has come a long way over the years, eliminating handwritten tax forms, paper filing of tax returns and the need to be in the office to effectively manage your clients.

  • Balancing work and life   

    March 25, 2019

    We live in a world where work and home are increasingly intertwined. Work flexibility is no longer a perk for employees but a core part of companies’ and employees’ work strategies. Employees consider work-life balance as one of the top factors when choosing a job. Alternatively, many employers expect their workers to be available at all times via email, phone or direct message.

  • How to work with someone you dislike

    March 25, 2019

    It’s impossible for us to get along with everyone. Here are 9 steps to make the best of tense work relationships.

  • How are your yellow book engagements?

    March 20, 2019

    The 2018 Revision to Government Auditing Standards (GAGAS) was released in July 2018 and is effective for periods ending on or after June 30, 2020, and for performance audits beginning on or after July 1, 2019. Because the Revision addresses requirements for the entire period under audit, we will want to understand what these changes are before July 1, 2019.