201701.05
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Federal Tax Planning Strategies for Individuals and Small Businesses

Federal Tax Planning Strategies for Individuals and Small Businesses By: Warren M. Bergstein, CPA, AEP Published Date:  Jan 1, 2017 Every year, to minimize their overall liability, taxpayers should start giving consideration to moves that may either lower their current year tax bill or equalize their tax liability over a two-year period. Some of the ideas presented below are traditional planning suggestions involving timing of income, deductions, and other payments qualifying for tax credits. But consider also the Alternative Minimum Tax and proposed changes that the new Trump Administration may enact. As a result of the Protecting American from Tax Hikes, Act (PATH)—hereafter referred to as “the Act”—the individual marginal…

201701.03
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Bitcoin Trounced the Dow This Year | Wall Street Journal

Bitcoin Trounced the Dow This Year If bitcoin’s momentum continues, one new digital coin could be worth as much as an ounce of gold by next year. By Telis Demos and Paul Vigna Updated Dec. 30, 2016 10:11 p.m. ET   Bitcoin has often been dismissed as a niche, a fad or worse. But in 2016, it has also been one of the best-performing assets in the world. Aided by election surprises, a spike in geopolitical uncertainty and falling price volatility, the virtual currency is drawing in traders, potentially sparking a rethink about its novelty status. Bitcoin’s dollar value rallied 123% in 2016 to $956 per bitcoin, according to the CoinDesk…

201612.22
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Expanding Your App-titude

A monthly look at apps and websites that can make the CPA’s job and life better. By Greg LaFollette, CPA/CITP, CGMA December 1, 2016 I seem to always be working with an out-of-date to-do list and am unable to control the tasks that somehow appear there—and those that don’t. There has to be a technological solution, right? Unfortunately, no, but apps at least provide the appearance of control and maybe, just maybe, with time, discipline, and luck, I’ll get my list under control. This column is my first foray into the giant pool of to-do list apps. Why are there hundreds of apps in this space? It’s because making and…

201612.20
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Blockchain in 2017: The Year of Smart Contracts

By Rob Marvin December 12, 2016 The first-ever Smart Contracts Symposium brought some of the world’s foremost blockchain experts together in one room to demystify the technology and discuss all of the ways smart contracts will change the way we work. If you think about a blockchain as a distributed operating system (OS) for data, then smart contracts are its killer app. At the inaugural Smart Contracts Symposium held at Microsoft’s New York City headquarters, blockchain experts and companies from the burgeoning space gathered to discuss the myriad of ways that smart contracts are poised to disrupt the status quo in 2017 and beyond. Nick Szabo, a computer scientist, legal…

201612.13
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Journal of Accountancy: How New CPAs Can Build a Book of Business

Building strong, genuine relationships is one of the best ways to drive business. By Courtney L. Vien December 1, 2016 Bryan Carpenter, CPA, CGMA, an audit manager for LevitZacks in San Diego, has developed a brand as the Craft Beer CPA to attract clients. (Photo by Zach Cordner/AP Images) Young CPAs at public accounting firms look forward to climbing the career ladder. But with career advancement often comes a daunting new responsibility: bringing in business. At many firms, business development is essential to promotion, especially for CPAs who want to become partners. But bringing in new clients can seem like a strange new world to many young CPAs. After all,…

201612.12
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Bitcoin Powerhouse Will Pull the Plug on Bitcoin | Wall Street Journal

Circle Internet Financial says it will focus on mobile payments business By Telis Demos Updated Dec. 7, 2016 5:03 a.m. ET Circle Internet Financial, one of the most heavily-funded digital currency startups, will no longer offer the ability to buy and sell bitcoins. Photo: Getty Images The move, disclosed by the company Wednesday, is the latest indication that the financial revolution that bitcoin’s early developers had hoped to spark isn’t playing out as planned. Bitcoin remains a closely watched virtual currency, and its value is rising rapidly. But it is still a niche product, often traded by speculators and investors who own it as a hedge against traditional government-backed currencies. Meanwhile, bitcoin’s underlying…

201612.07
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Get Ready for Blockchain’s Big Impact | Accounting Today

By Michael Cohn December 6, 2016 Accountants need to watch out for the wide-ranging impact of blockchain, a technology popularized by digital currencies such as bitcoin. Blockchain relies on “distributed ledger technology” to record transactions made with the virtual currency and uses encryption to safeguard security. The technology distributes the ledgers to different computers to preserve the audit trail and record ownership of the currency. Amanda Wilkie, chief information officer at WithumSmith+Brown, discussed the ins and outs of the technology at a meeting of the Accountants Club of America on Tuesday in New York. She noted that bitcoin is considered a “cryptocurrency.” However, it isn’t the only blockchain currency out…

201611.21
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CPA Trendlines – New York’s Accountants Club of America Names New Officers and Board Members

The Accountants Club of America announces their 2016-2017 Officers and new Board Members. Officers Robert S. Fligel, President Salvatore A. Collemi, First-Vice President William Epstein, Second Vice-President Elliot L. Hendler, Secretary Margery Gladston, Treasurer New Board Members Jacques E. Boubli Margery Gladston Edward Mendlowitz Sallie Mullins Thompson Mendlowitz is a contributor to CPA Trendlines. See the full list of the Board of Governors and the Advisory Board here. The Accountants Club of America has a very long and illustrious history commencing with the leaders and founders of the profession including Elijah Watts Sells. Read the full history. The Club is pleased to report a recent 15% increase in new members and…

201611.21
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Accounting Today: Accountants Club of America Announced its 2016-2017 Officers and New Board Members

NEW YORK The Accountants Club of America announced its 2016-2017 officers and new board members: Robert S. Fligel will serve as president; Salvatore A. Collemi as first-vice president; William Epstein as second vice-president; Elliot L. Hendler as secretary; and Margery Gladston as treasurer. New board members include Jacques Boubli, Margery Gladston, Edward Mendlowitz and Sallie Mullins Thompson.

201610.06
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Turning a Classic Networking Tactic Into A Job Lead

By Sabine Vollmer Journal of Accountancy – October 1, 2016 Young professionals looking for career development opportunities are reviving the informational interview, a classic networking tactic that fell out of favor with the rise of digital research tools. “Every time I made a career change, I would take as many people out to lunch as I could and pick their brains,” says Mark Astrinos, CPA/PFS. (Photo By Alison Yin/AP Images) More than a decade after the convenience of online fact gathering caused the informational interview to fade, a new generation of job seekers is rediscovering the networking tactic. Ethan Harkleroad, a recent accounting graduate of the University of San Diego,…