Certain life insurance policy owners—including businesses—can use a life settlement transaction to convert unneeded policies into cash. The amount they receive is usually much more than the cash surrender value.
Software
More than 3,000 AICPA Tax Section members responding to the Journal of Accountancy’s survey reported the products they used this year performed better than last year’s crop. For CPA tax preparers and technology consultants.
Sarbanes-Oxley
Using the documentation required by Sarbanes-Oxley, CPAs can create value by taking companies beyond simple compliance to improved decision making and more efficient processes company-wide. For CPAs in business and industry.
Practice Management / Small Business / Small Firms
The Sarbanes-Oxley Act has resulted in opportunities not only for large CPA firms but for small ones, too. Smaller firms can help implement the act’s ongoing requirements, take on engagements that companies’ auditors no longer perform or pick up assignments that larger firms forgo. For CPAs at small firms.
Tax
The 2004 Jobs Act rewrote the tax and reporting rules for U.S. citizens and foreign residents moving overseas. Here are planning suggestions for this new environment. For CPAs with clients who are contemplating emigration or living abroad.
Professional Issues
Leslie Murphy, managing partner of client service for Plante & Moran, will become the AICPA chair in October. As a member of the firm’s senior leadership team, she has been a manager in the areas of assurance, tax, management consulting, technology consulting and corporate restructuring, and cofounded the firm’s PTA Committee, which is responsible for work/life initiatives.. For all CPAs.
LLPs and LLCs / Practice Management
This article explores the exposure issues of operating an accounting practice as a limited liability partnership (LLP) or limited liability company (LLC) and offers practical steps to minimize your risk. For CPAs forming or revising partnerships.