The U.S. population is aging, and CPAs should consider this fact in determining which services they can offer and how they will adapt their practices…
SSDI and SSI—Government Programs to Help the Disabled
What CPAs Need to Know to Answer Pressing Questions
The U.S. federal government has a wide range of programs to help those in need, including health insurance for seniors (Medicare), discounted phone and Internet…
CPAs need to be aware of current tax developments in key states to properly advise clients that are doing business in multiple jurisdictions. As state…
Individual taxpayers have probably noticed that they have been required to answer questions on Form 1040 about virtual currency transactions in recent years. The U.S.…
The trend in today's modern CPA firm is to pursue business cloud accounting services (CAS) and only offer tax returns as an “add-on” service. Many…
B Corporations are for-profit entities that not only provide products or services with a goal of earning a profit for its owners, they also contribute…
The title of this article is more than a little misleading. The future is now—effective CFOs not only know this, they strive to bring the…
Operational Compliance in a Highly Regulated Environment
Avoiding Fiduciary Breaches, Regulatory Review, Corrective Contributions, and Monetary Sanctions
Plan administrators named in the plan document, or acting as administration fiduciaries by filing Form 5500, must administer their 401(k) plan in accordance with plan…
Key Personal Income Tax Decision
New York Appeals Court Holds Taxpayer’s Vacation Home Did Not Qualify as ‘Permanent Place of Abode’
In a significant development, a New York appeals court recently held that a taxpayer's vacation home did not, in fact, qualify as a “permanent place…
ICYMI | Department of Labor Position on Cryptocurrency Investment in 401(k) Plans
Practical and Legal Considerations
Many 401(k) plan sponsors mistakenly believe that they have no liability for investment fund options made available to participants in core investment menus and self-directed…
ICYMI | Recent California State and Local Tax Developments
New Provisions and Requirements May Impact Out-of-State Taxpayers
CPAs need to be aware of current tax developments in key states to properly advise entities doing business in multiple jurisdictions. Below is an overview…
Forté Capital’s Selected Statistics
Economic & Market Data
Forté Capital's Selected Statistics U.S. New Home Sales The recent rise in mortgage rates has cooled the sales of new homes. The rush to close…
Individual taxpayers have probably noticed that they have been required to answer questions on Form 1040 about virtual currency transactions in recent years. The U.S.…
Gift Tax Returns on Extension
What to Consider Before Filing
Gift tax returns that have been extended can provide a breather for tax preparers. That time should be used to plan the return, obtain relevant…
The Taxability of Third-Party Food Delivery Services
Understanding Complex Local Rules to Determine the Responsible Party
Two years into an unprecedented global pandemic, the impact of coronavirus (COVID-19) is still felt in many industries. The hospitality industry continues to be one…
Forté Capital’s Selected Statistics
Economic & Market Data
Forté Capital's Selected Statistics U.S. Treasury Yield Curve The yield curve has settled back into a normal shape, having been inverted from the 2-year to…
In September 2018, the International Ethics Standards Board for Accountants (IESBA) issued a new International Code of Ethics for Professional Accountants, which was recently revised…
Department of Labor Position on Cryptocurrency Investment in 401(k) Plans
Practical and Legal Considerations
Many 401(k) plan sponsors mistakenly believe that they have no liability for investment fund options made available to participants in core investment menus and self-directed…
Business risk is defined in generic terms as the exposure a company must consider that may lower its profits or lead it to fail. This…
Over the past 20 years, many public accounting practices transformed into accounting businesses, with some even becoming multifaceted professional services organizations. The shift was precipitated…
Recent California State and Local Tax Developments
New Provisions and Requirements May Impact Out-of-State Taxpayers
CPAs need to be aware of current tax developments in key states to properly advise entities doing business in multiple jurisdictions. Below is an overview…
The buzzword in CPA firms these days is advising: How do we get our firm to do more advising, how do our teams become advisors, and…
Forté Capital’s Selected Statistics
Economic & Market Data
Forté Capital's Selected Statistics U.S. Treasury Yield Curve One of the driving factors in both the economic picture and the capital markets is the expectation…
In my role as an executive in residence at Rowan University in southern New Jersey, I have had the opportunity to meet with many students…
The demands placed on CFOs and their related financial organizations are driven by the many hats that they wear in discharging their responsibilities. As summarized…
In addition to the human health, remote work environment, and technology challenges presented by the coronavirus (COVID-19) environment, tax practitioners have had to absorb and…
The increasing complexity of business, whether it be from technology or globalization, has placed more responsibilities on an entity's CFO and financial organization. In addition,…
The accounting profession has a long and respectable history, and has made important contributions to business, commerce, and economies for hundreds, if not thousands, of…
The buzzword in CPA firms these days is advising: How do we get our firm to do more advising, how do our teams become advisors, and…
Failing to report foreign bank accounts on a Report of Foreign Bank and Financial Accounts (FBAR) form can carry severe financial consequences. The civil penalty…