Firm Management

Whatever you may think of Millennials, they are natural born savers. A new report from the Transamerica Center for Retirement Studies shows that since many of these workers entered the workforce at about the same time as the Great Recession, they've been more proactive in saving for perilous employment times.

If you have household employment (a.k.a. “nanny tax”) clients, you know how much extra work goes into making sure their taxes are in order. For those unfamiliar with this part of the tax code, household employers have a “Casual Babysitting Exemption” when they pay an individual less than $1,900 in a calendar year. However, once they cross that threshold, they have employer tax withholding and reporting obligations at the state and federal levels (IRS Publication 926).

The accounting and tax advisory firm WeiserMazars LLP, has acquired pmpm Consulting Group Inc., a national health care consulting firm specializing in providing managed care services including network development, contracting, credentialing, regulatory monitoring, oversight and compliance audits to payers and providers.

Many accounting practices enter that time of year where new solutions to old challenges are sought. Top on their lists are the new challenges of cloud computing and mobile technology to mention a few.

Everyone is pressed for time, and accountants are especially so, particularly at certain times of the year. But every time you contact or meet someone, you have an opportunity to cultivate new business, whether it’s with the person with whom you’re speaking or with someone they know.

The acquisition reinforces Confirmation.com’s position as the global provider of secure online audit confirmation services and brings in ProConfirm’s local expertise of the UK and European markets.

Sometimes people don’t recognize that they are working with an accounting system that has gradually declined over time. They are not always aware that they could save a lot of time and money with an upgrade. As an external accountant or consultant, you don’t have to be a computer specialist to help your client. All you need to do is be aware of some simple signs.

CPAs working in the forensic and valuation areas have identified big data as the most pressing issue they’ll face in the near future.