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The impact of AI and advanced software tools on accountants is undeniable, transforming their roles and responsibilities. Those who embrace lifelong learning and continuously update their skills will thrive.

ChatGPT can be useful for tax practitioners; however, it is important to remember that while it can offer valuable assistance, professional expertise and judgment still remain crucial in applying the information provided.

Private keys are extremely valuable; if they fall into the wrong hands, they can be used to steal or manipulate digital assets, as seen in the case of FTX. Find out what lessons can be learned from FTX.

Current and future AI tools, for the most part, will take over the “low-hanging fruit” — basic tasks and processes that do not require a human element. This will allow those accountants to focus on higher-level tasks.

Whether a business unit manager needs the latest information on time and attendance to streamline their scheduling process or a quick payroll audit by the HR manager to address a problem, analytics help make data accessible to business leaders.

A client’s engagement letter should be as detailed as possible in describing the nature and extent of the services that the firm is being retained to perform, as well as the services that the firm is not being retained to perform. Here are important considerations.

Depending on the size, structure, risk tolerance and other characteristics of an organization, CPAs may want to consider securing passwords by adding another level of protection.

The research and development (R&D) tax credit can be a valuable tool for companies that conduct R&D, including the invention of patented products and processes.

A work environment that attacts Gen Zs should be inclusive and flexible and have a culture that allows for professional development, entrepreneurial vision and the use of emerging technologies.

A court may attempt to pierce the corporate veil and hold an individual — a shareholder or director — liable for a company’s actions or debts by delving beyond the limits of limited liability to potentially hold the shareholders liable for any debts.

Empowerment means that each member is responsible for creating the organization’s culture, for delivering outcomes to its customers and especially for the quality of their own experience.

Regardless of the kind of alternative structure being considered, CPA firms need to be diligent and do their homework before embarking on ways to increase revenue growth.

The NJCPA wrapped up its 2023 NJCPA Convention & Expo. Nearly 600 attendees, more than 80 sponsors and exhibitors, and more than 40 speakers discussed solutions to breaking down career, industry and technological barriers.

Self-custody allows the individual or business to have full control over their digital assets and eliminates the need for trust in a third-party custodian. Here are some ways to self-custody your digital assets.

Although transaction history is cryptographically stored in a blockchain, deciphering and properly accounting for transactions can be complex and cumbersome. Here are some factors to keep in mind.

it’s important to understand that cryptocurrency is considered property for tax purposes. This means that any gains or losses from buying, selling or trading cryptocurrency are subject to capital gains tax.

The right exit strategy for a particular business depends largely on the individual needs of the business owner and the current state of the business. Here are 8 options to consider.