Daily Archives: October 7, 2012

Tougher Competition, Tighter Margins Coming to Forensics

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U.S. hot spots for forensics accounting and auditing
U.S. hot spots for forensics accounting and auditing, by number of firms and share of nationwide billings (IBISWorld via CPA Trendlines)

Fast-growing niche attracting more firms and pushing up staffing costs.

by Rick Telberg

Fueled by demand from new deal-flow in a recovering economy, forensic accounting billings are on track to grow 7% a year through the next five years to $6 billion, according to new data provided to CPA Trendlines.

To be sure, the growth rate for the next five years represents a marked slowdown from the last five years, but it remains significantly faster than the 2% projected for CPA firms overall.

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Three Political Questions that Cloud the Tax Planning Outlook

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 We’re accountants, not fortune-tellers.

Special to CPA Trendlines

Rothstein Kass, the New York CPA firm, is advising clients that “looming ahead are many potential changes” with the possible demise of the Bush-era tax cuts.  In addition, several other bills are muddying the forecast.

“Even the world’s best soothsayer could not predict with accuracy what will happen between now and the end of the 2012 tax year with respect to the tax law,” Richard Bloom, National Leader of Trusts and Estates, and Neil Tendler are teling clients in a bulletin.

For example: READ MORE →

The End of the Circular 230 Disclaimer Boilerplate

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IRS revokes part of Circ. 230 and adds responsibilities to manager of tax function.

By E. Lynn Nichols, CPA
Special to CPA Trendlines

In a move some of us knew was coming, but really could not talk about until now, the IRS is revoking Section 10.35 of Circular 230 and has issued Proposed Regulations that strengthen Section 10.37. READ MORE →