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To learn more about LiveFlow, visit [link] Tim Petrey shares his journey from starting as a receptionist to becoming a partner in his CPA firm and founder of a payroll service. He discusses how his firm, HD Davis CPAs, evolved from a tax business to a full-service advisory firm and how they acquired small practices to grow.
Accounting forums are digital communities usually populated by firm owners, CPAs, tax specialists, and other financial experts. All kinds of accounting topics, from taxes to software recommendations and business strategies can be discussed. This forum has been around since 2008 and still has decent web traffic.
TaxDome is a popular practice management solution for accounting firms, tax firms, and bookkeepers. Final word: Aero was one of the first accounting practice management solutions on the market when it launched in 2008. However, the platform has some notable limitations that leave firm owners wanting more.
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I've got follow up on Wirecard, the Ernst & Young audit that apparently did not detect $2 billion in money that was missing. David Leary: [00:04:18] I've got some Wirecard, as well. Blake Oliver: [00:04:19] IRS news, appropriate for Tax Day coming up. He's a CPA, PFS, and CGMA. Let's talk about Tax Day.
David Leary: [00:02:39] So, last week, all this tax change, and deadlines, and all these things kept coming out, and I was like, "Oh, I should get Kelly on again." She writes for Forbes, and she writes for Bloomberg Tax. This hasn't been finalized yet," from the tax situation. I regale them with tax stories.
The last time the IRS sent stimulus checks, in 2008 and 2009, it took more than two months to get the money in the mail. Oh, by the way, the three-week number, that's only for people who already have direct deposit setup through their tax filing. I guess it's through payroll tax credits. Mnuchin is saying three weeks.
The business advisor, to the CPA firm can help navigate that with the client. We learned this in the 2008 stimulus package. It's somebody who has a finance professional, or a CPA, who can mobilize them very quickly, but that is- Erik Asgeirsson: [00:34:44] That's right. Stay on the payroll." Erik Asgeirsson: [00:28:43] Yeah.
At some other level, I step back and think about tax policy in this country dictates social policy. There'll probably be some bill in that's a protest/riot-damage bill, or something in small businesses, which'll have tax implications.
David Leary: [00:13:00] Do you think if it wasn't for PPP and the loan situations - because tax season kinda got delayed - do you think it'd be less? Well, yeah, I think the tax season and PPP together create this really difficult situation. The last stimulus, in 2008, it was twice that. It's dead in the month of July, right?
The White House is still proposing this ridiculous plan that apparently nobody cares about other than them, which is the payroll tax cut. David Leary: [00:10:10] I think I saw an article here on PYMNTS.com that the GOP and the White House have agreed on a plan now. So, the White House is kinda. People are getting tired of it.
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