The answers to all of your questions in two and half minutes

Posted By: Bill Sheridan on January 22, 2015 in Business Strategy&Leadership / Management
What are the biggest challenges that CPAs face today? What issues are all CPAs trying to figure out these days? What key question must all CPAs ask themselves going forward? Tom Hood has the answers, and he tells all in this video interview with the folks at Sage North America. Check it out:

Tax season questions come early, thanks to tangible property regs

Posted By: Bill Sheridan on January 22, 2015 in Taxation
That didn’t take long. Tax season has only just begun, and the MACPA’s federal tax listserv is already lighting up with questions from tax pros. The issue at hand involves the IRS’s tangible property regulations. The final disposition rules for tangible property were issued in August and largely adopted the proposed regulations that were issued in 2013.  The IRS also recently issued procedural guidance, but if the listserv is any indication, a ton of questions still...

Duck and cover — tax season is here

Posted By: Bill Sheridan on January 20, 2015 in Taxation
It’s official: Doomsday has arrived. That’s what we’ve been told for the past few months, anyway. Tax extenders and Obamacare and IRS budget cuts are just a few of the monsters that are supposed to make this one of the worst tax seasons in recent memory. I’d tell you to take cover, CPAs, but it’s too late now. This year’s busy season officially opens today, and judging from the early activity on the MACPA’s state and federal tax listservs, it’s going...

XBRL exemptions are a roadblock to open data

Posted By: Bill Sheridan on January 19, 2015 in Uncategorized
Our elected officials’ logic is truly dizzying. In 2014, both houses of Congress unanimously — unanimously! — passed the Digital Accountability and Transparency Act, or DATA Act, which standardizes the ways in which federal spending information is reported and calls for the creation of a searchable online database that would let all Americans see how the government is spending their money. President Obama signed the measure into law in early May 2014. The debate, it seemed, was...

Game on! 2015 Maryland General Assembly under way

Posted By: Tom Hood on January 14, 2015 in Legislative / Regulatory
Ninety days, 2,500 bills, 188 legislators (47 senators and 141 delegates). Sixty-nine of those legislators − 37 percent − are new. We have a new governor, attorney general, and secretary of the DLLR. How many of those legislators know who CPAs are and what we care about? Not enough. How many of those bills will affect CPAs, CPA firms, and businesses? Plenty.