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Whether a teacher, a family member, a boss or a friend, we all can name at least one person who has had a significant impact on our lives. These individuals inspire and guide us.

There are common, routine, non-technical tasks that artificial intelligence (AI) can help with in CPA practices, but with complex tax matters, such as research and development (R&D) and the Employee Retention Credit (ERC), AI tends to lack the necessary human judgment.

Accountants and CPAs must advocate for internal controls not only as a best practice but as a critical component of financial systems. Internal controls are not just technical tools — they are essential safeguards that protect organizations from financial risks

Every CPA who handles real estate clients is familiar with the $150,000 passive activity loss (PAL) limitation. Part of our role is to warn clients just how quickly a teacher-and-firefighter household, or two average professionals, can lose these crucial tax benefits.

Like elite sports teams and military units, high-performing accounting firms hold their composure during times of duress. Firms with a strong culture and governance model are particularly well equipped to handle “battlefield” conditions.