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Insight Full Article
Preparing for an ERC Audit? 6 Questions the IRS Will Ask
It’s imperative for CPAs to exercise due diligence when preparing for an ERC audit. When the IRS comes knocking, make sure you know the answer to these six questions.
Inflation Reduction Act: Impacting Real Estate Tax Returns
The Inflation Reduction Act of 2022 brought substantial changes to Section 179D Energy-Efficient Commercial Building Tax Deduction, a flagship federal tax incentive. Here’s what to know for this tax season.
A CPA’s Basic Guide to SALT Requirements
State and local taxes affect every business in Illinois in one way or another. To ensure their clients remain tax compliant, it’s important for CPAs to know the fundamentals, red flags, and where to look for additional guidance.
Finding Your Balance Ahead of Another Busy Season
Each busy season, burnout looms heavy over accounting professionals. Here, four CPAs share strategies to beat burnout and achieve better work-life balance.
Breaking the Partner Model: Will Employee-Owned Firms Become the Norm?
As accounting firms struggle to find effective solutions to their talent acquisition and retention challenges, one creative restructuring practice has made its way into the profession—but will it last?
Treasuring Stability: Managing Corporate Cash in an Uncertain Economy
Preserving cash, capitalizing on opportunities, and remaining flexible are key moves for any finance team during uncertain times. Here, six finance experts share added advice for managing treasuries today.
GEN NEXT: Paying It Forward: Inspiring the Next Generation of CPAs
Here are three pieces of advice for the next generation of diverse, thought-provoking CPAs entering the profession.
IN PLAY: Allan Koltin, CPA, CGMA
As one of the nation’s top accounting consulting experts, longtime Illinois CPA Society member Allan Koltin, CPA, CGMA, shares his advice for firms exploring growth via private equity.
In Succession Planning, What Constitutes Success?
Here are three succession planning choices for firms to consider—each with its own definition of success.
The Ethics of Burnout
Both individuals and organizational leaders have an ethical role to play in preventing and addressing burnout—consider these tips.
It’s Complicated: A Closer Look at Cannabis Sales and 280E
Although sales of recreational and medical cannabis are legal in Illinois, they remain illegal at the federal level. Here’s how it complicates taxable income.
What’s Old Is New Again in Corporate Finance
To stay adaptable and responsive to today’s business challenges, corporate finance teams need to consider their lessons from the past.
The State of Philanthropy: How CPAs Can Help Donors
Has the pandemic had any effect on charitable giving? Yes—but the results may surprise you.
Assessing SAS 134-140: How Did It Go?
Before tackling SAS 143-145, let’s see how you did on the former suite of auditing standards. Consider these post-implementation reminders.
Deal or No Deal? My 2024 M&A Predictions
The merger and acquisition landscape continues to evolve at a rapid pace as firms seek to expand their offerings and accelerate growth.
2 Types of Goals You Need to Succeed in the New Year
Using a two-part goal-setting structure will get you closer to achieving your goals in 2024 and beyond.
Preparing for the IPO Comeback
Will initial public offerings (IPOs) return big in 2024? Many experts are saying yes— here’s what CPAs and CFOs need to know now to prepare.
What Drives Difficult Auditor-Client Interactions?
The relationship between an auditor and their clients is very complex and often met with conflict. Here, researchers explore these dynamics to identify areas for improvement.
What the Future of Accounting Really Needs
If the accounting profession is to remain relevant to future generations of workers, changes in work-life balance, diversity, and pay are needed now.
The Like-Kind Exchange Home Sale Strategy
As home values rise, tax structuring becomes more important in how your clients sell their homes.