The Top Tax & Accounting News Stories of 2016

#10: Accounting & Tax Firms Rank as Most Profitable Profession

You’ve chosen a wise career path. Not only do surveys show that, among professional careers, tax and accounting firms are more profitable, their partners and staff often enjoy one of the highest qualities of professional life.

 

#9: Accounting Software Choices for Your Firm’s Clients

There is an over-abundance of technologies available that are focused on helping businesses be more productive and profitable, but which ones are the right fit for you and your clients? Accounting tech guru Randy Johnston helps narrow the field with specific guidance.

 

#8: The Top 5 Accounting Mistakes by Small Business Owners

There are great entrepreneurs in our country, but not all of them can master the basics, much less the intricacies, of proper bookkeeping and financial management. Fortunately, our readership of more than 100,000 CPAs, tax pros and accountants are ready to help these small business owners stay in shape fiscally.

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#7: What’s on President Trump’s Tax Reform List?

Our resident tax expert Ken Berry, J.D. was among the first to take a look at what Donald Trump’s election as #45 may mean for taxes for individuals, including rates, deductions, AMT, child care, corporate taxes, and estate taxes.

 

#6: Congrats to the CPA Practice Advisor 40 Under 40

Every year, we shine the spotlight on young and mid-career professionals and influencers who are shaping the public accounting profession. Check out this year’s honorees.

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#5: New Payroll Rates and Deadlines for W-2s in 2017

Keeping up with ever-changing deadlines in each state can be a challenge for payroll professionals. Fortunately, this chart makes it easier, and is often referenced on our website.

 

#4: New Overtime Rules Enacted, Then Blocked

In really big, big news that spanned several months of 2016, the Labor Department considered and then enacted new overtime and worker classification rules that would have dramatically increased (by millions) the number of U.S. workers eligible for overtime pay. After preparing for the changes for half of the year, businesses were relieved when a federal court blocked the rule only a week before it was to go into effect.

 

#3: Ranking the Best Accounting Firms to Work For

The personal and professional quality of life of accounting professionals is heavily impacted by how their firm is managed. Those with savvy leaders encourage diversity in staff and thought, foster professional growth and education, offer flexible work environments and highly competitive pay, and promote from within.

 

#2: 2017 Income Tax Rates, Credits and Deductions

Even before the election of a new President, Congress and Senate, there were several changes coming for 2017 that were already known. These include inflation-based adjustments to federal income tax brackets, exemptions and credits, as well as special treatments for AMT, foreign earned income, income phaseouts and the estate tax.

 

[See the latest reviews of tax, accounting and firm management technologies.]

 

#1: Tax Chart Shows When To Expect Income Tax Refunds

Although our mission is to provide information to tax, accounting and other financial professionals, many other Americans also search for topics that we cover. As a result, our annual chart of when taxpayers can expect their refunds is always a top article. The chart for 2017 is available too– so, be sure to check out when you or your clients may be getting some money back from the IRS.