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Latest Articles
Structuring partnership mergers
2+ hour, 45+ min ago (75+ words) Focusing on private-equity acquisitions, this article compares merger forms and highlights tax considerations, particularly where some partners cash out and others continue the business....
Determining when a debt instrument has zero basis
2+ hour, 45+ min ago (20+ words) Taxpayers issuing related-party loans should assess the consequences if those debt instruments are determined to have a zero basis....
Tech news: Luca IQ launches with e-file approved tax engine for CPA firms
9+ hour, 24+ min ago (133+ words) Luca IQ launches with e-file approved tax engine for CPA firms; Workday touts new Financial Audit Agent; Cherry Hill Advisory launches AI-enabled internal audit services; and other accounting tech news and updates. Plus, Kaufman Rossin launches a PE practice; Centri…...
Why cloud bookkeeping is more than a concept
8+ hour, 38+ min ago (453+ words) There was a time, not long ago, when bookkeeping firms were apprehensive of cloud solutions. Those days are fading. And with the expanding cyber threat landscape, growing client expectations and the evolution of AI, cloud bookkeeping is no longer just…...
How to get double-digit growth
1+ day, 1+ hour ago (310+ words) Even if it's just to keep up with inflation, every accounting firm wants to grow its revenues from year to year — and most want to do much more than keep up with inflation. That can be difficult, though, in an…...
Who gets blamed when AI goes wrong?
1+ day, 6+ hour ago (282+ words) Who is ultimately responsible for an organization's AI, and who is to blame when it goes wrong? Looking deeper into the role of the vendor, Avalara said that in 17% of cases, the contracts state that the vendor bears only minimal…...
Overconfidence in AI governance means safety takes a back seat to speed
2+ day, 1+ hour ago (322+ words) While almost everyone is talking the talk on AI governance and control, recent data suggests far fewer are walking the walk, much to the detriment of their organizations. Top 50 firm Schellman, in a report released today, found that 90% of AI…...
M&A deal terms must be about more than price and payout
2+ day, 6+ hour ago (873+ words) With all the capital that private equity and other sources are investing in the CPA firm world, it is easy to be romanced into joining the parade of sellers looking to take money off the table. Dealmaking is heavily weighted…...
Grant Thornton to acquire CBIZ for $5B
2+ day, 6+ hour ago (416+ words) Grant Thornton will acquire CBIZ in an all-cash $5 billion deal. Upon the transaction's expected closing in the fourth quarter of this year, Grant Thornton is expected to become the fifth-largest firm with more than $5 billion in domestic revenue and $7.5 billion…...
Senate committee drafts wide-ranging tax administration bill
3+ day, 1+ hour ago (506+ words) The Senate Finance Committee released a so-called "Chairman's Mark" of the Taxpayer Assistance and Service Act ahead of a markup hearing Thursday of a sprawling bipartisan bill that would add new requirements for the Internal Revenue Service as well as…...