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avalara buys crowdreason for property tax compliance
deal follows the acquisition of track1099.
avalara, a provider of tax compliance automation software for businesses of all sizes, is acquiring crowdreason llc, a developer of saas-based property tax compliance applications, as well as a related property valuation and advisory services business to help solve property tax compliance challenges.
acquiring leaders in tax compliance verticals has been core to avalara’s mission and growth strategy since its founding. earlier this month, avalara acquired track1099, which automates the managing, filing, and delivery of irs forms, including 1099s, w-9s, and more. with the acquisition of crowdreason, avalara furthers its mission of being the leading global compliance automation provider.
a woman named wanda leaves an ira nightmare
why estate planners may now need to re-think an uncountable number of revocable trusts in at least 30 jurisdictions.
by seymour goldberg, cpa, mba (taxation), jd
the practitioner’s guide to the ira distribution rules under the secure act
a kansas court case may make it necessary to redo many ira trusts and change them from revocable trusts to irrevocable trusts, affecting an untold number of estate plans in at least 30 jurisdictions. the case revolves around a woman named wand and a $93,314.48 promissory note to a bank.
wanda was living in a retirement home and getting by on medicaid when she died in 2003, leaving an estate that owed more than it owned. wanda’s ira accounts were set up to be payable to her revocable trust. but the court ruled that, because the estate’s assets were inadequate, the bank could seize wanda’s ira accounts.
more: why you really need a protective trust | irs updates pub. 590b on ira distributions | irs pledges to fix secure act 10-year rmd rule
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so, from an asset protection point of view, it may be worthwhile to use an irrevocable standalone trust, instead of a revocable standalone trust, as the beneficiary of an ira account. this may be especially true in jurisdictions that have adopted versions of the uniform trust code.
the reason this case is so important is that during an ira owner’s lifetime, ira accounts are protected from creditors, except the irs, of course. but there has never been a case prior to the kansas case in which the deceased ira owner’s creditors – other than the irs – could collect from a beneficiary of a deceased ira owner’s ira account unless the beneficiary the ira account of the deceased ira owner was his or her estate.
since many attorneys in the u.s. use revocable trusts in estate planning and not irrevocable trusts, there may be many revocable trusts that have been selected as the ira owner’s beneficiary of his or her ira account. based on the kansas case, it may be necessary to review an uncountable number of trusts and change them from revocable to irrevocable trusts.
dom esposito, ex-grant thornton ceo, dead at age 74
a long and distinguished career at the pinnacles of the cpa profession.
by 卡塔尔世界杯常规比赛时间
domenick j. esposito, the former ceo of grant thornton, vice-chair of bdo, and national growth director at cohnreznick, died sept. 22 at the age of 74, at his home in westport, conn.
the family said he passed peacefully in his sleep. survivors include wife dorothy savino esposito, daughter karen, and a granddaughter. funeral arrangements, details and tributes can be found here.
from comments: “a good friend and colleague who will be missed by many..” “the kindest man i ever met…” “made me a better accountant…” “always a gentleman…” “great competitor and friend…” “truly one of the most brilliant in the profession…” “a great visionary and leader…”
“dom was a pillar of the cpa profession he so loved, and his work lives on in the thousands of lives he touched in a long and distinguished career,” said rick telberg, ceo of 卡塔尔世界杯常规比赛时间, which published his “8 steps to great: the eight essential strategies driving success at the world’s largest cpa firms. and how to apply the lessons at firms of all sizes.” see his articles for 卡塔尔世界杯常规比赛时间 here.
eisneramper gets private equity backing
charly weinstein on cnbc talking about the private equity deal.
towerbrook capital partners’ infusion “reimagines the traditional accounting firm model.”
by 卡塔尔世界杯常规比赛时间
eisneramper llp – one of the profession’s top 20 firms with more than $420 in annual billings, 200 partners, and 1,200 employees – has sold about half the firm to towerbrook capital partners, a private equity fund with big investments in the financial services sector.
more on private equity for cpa firms:
analysis by esposito and zecca: how outside capital can remake cpa firms
analysis by esposito and zecca: private equity the new source of growth capital for cpa firms?
as a result, eisner is splitting into two entities: the legacy eisneramper llp, a licensed cpa firm, to provide attest services, and the new pe-funded eisner advisory group llc, for business advisory and non-attest services. terms were not disclosed but towerbrook has a reputation for taking controlling interests in the companies it funds. audit and assurance account for about 49 percent of eisner’s pre-deal billings, with 42 percent from tax and 9 percent in consulting.
“it will be a positive disruptor in the profession,” according to charly weinstein, eisneramper ceo. “rather than conforming to traditional frameworks, adopting a new model of ownership facilitates the best structure for the firm to drive growth and innovative solutions to our clients. our colleagues will be able to chart a course for success in our purpose-built practice structure.”
bradley burnett: the “uncle billy” problem with the erc
irs notice 2021-29 “drops a bomb” on the employee retention credit.
with bradley burnett, jd llm
with 18 months of water under the bridge, we’re three-fourths of the way through the employee retention program, the irs changed their mind on an extremely important issue that changes many, many tax situations.
the question is: who’s eligible? and who’s not? read more →
rootworks acquires cpa practice advisor
with a goal to expand education-based ecosystem dedicated to accounting firm improvement.
by 卡塔尔世界杯常规比赛时间
via businesswire
rootworks, a part of right networks since mid-2020, has acquired cpa practice advisor from endeavor business media llc.
see right networks’s joel hughes and rootworks’ darren root discuss their merger last year at right networks acquires rootworks
the move allows rootworks to expand its educational ecosystem by leveraging cpa practice advisor’s content across a broad spectrum of digital channels. terms were not disclosed. read more →
cpas see best outlook in three years, with notable exceptions
cpa execs forecast economic boom.
by 卡塔尔世界杯常规比赛时间
via aicpa
the economy is poised to come roaring back in the year ahead, with forecasts for revenue and profit growth not seen since 2018, according to the second-quarter aicpa economic outlook survey of members in business and industry.
more surveys & research: women lag men in accounting jobs recovery | tax season ends with pros covering 54% of returns | tax pros retake market share from diyers | tax pros race to the finish line | making partner: what managers need to know | survey: tax season swings into the red | who’s heating up accounting tech? | another tax season from hell?
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there are concerns, however. “availability of skilled personnel” reemerged as the top-cited challenge for businesses as job recruitment turns up. and two-thirds of business executives now express concern about inflation, up from 44 percent last quarter.
tax alert: irs updates pub. 590b on ira distributions
but is it really the final fix for the secure act 10-year rmd rule?
by seymour goldberg
avalara launches new tax automated compliance apps for accountants at all levels of practice
offers accountants the tools to build an independent salt practice.
by 卡塔尔世界杯常规比赛时间
via avalara
avalara inc., a leading provider of cloud-based tax compliance automation for businesses of all sizes, today announced an array of new tax compliance automation products and services designed specifically for accountants. the announcement is timed for the opening of avalara’s annual user conference, crush.
avalara for accountants provides accounting professionals with the technology to simplify and streamline their tax compliance practice, including:
- sales tax returns preparation and filing automation options
- license research, preparation, and management
- sales tax expert advice
tax alert: irs pledges to fix secure act 10-year rmd rule
the irs teases new update on ira beneficiary distribution rules.
by seymour goldberg, cpa, mba (taxation), jd
special for 卡塔尔世界杯常规比赛时间
why your google ranking is about to tank
new algorithm could penalize older, slower sites.
by sandi leyva, cpa
i don’t know about you, but i would prefer to go through tax season without any interruptions, especially about marketing. but google doesn’t see it that way, and we have a significant search algorithm update hitting us in may 2021. if firms aren’t ready, they could see their search rankings, and correspondingly, prospects and future clients from website traffic, go way down.
more on small-firm growth strategies: seven tips to keep the clients you have | 12 ways to stress less this busy season | six ways to make your own history during women’s history month | ppp client fraud: how much risk is too much? | 3 ways to opt out of any downturn | how to lead in a crisis
exclusively for pro members. log in here or 2022世界杯足球排名 today.
while google updates its search ranking algorithm on a daily basis, it generally announces big changes ahead of time. google’s may 2021 update will focus on “page experience,” which includes three metrics called core vitals as well as four additional page experience signals.
no one knows the exact algorithm that google uses to rank web pages in search results. experts say there are over 200 ranking factors to consider. the latest update is all about providing a better mobile experience for the user.
here’s what all that means in detail. read more →
avalara crush 2021: the new rules for tax tech
ceo mcfarlane: “navigate the new rules that are defining global commerce as we know it.”
avalara, a leading provider of tax compliance automation for businesses of all sizes, today announced details of its keynotes and featured speakers for avalara crush virtual, its fifth annual tax conference, and industry gathering.
“this year, avalara crush is designed to help attendees navigate the new rules that are defining global commerce as we know it,” said scott mcfarlane, co-founder, and ceo of avalara. “we’ve assembled thought leaders and experts on the forefront of tax compliance to share their insights, views, and strategies for success. i’m confident that attendees will walk away with the knowledge and insights needed to tackle tax compliance and help ensure tax never stands in the way of opportunity.”