New SOC 2 Trust Service Principles Applicable for Periods Ending on or after December 15, 2016

The AICPA recently issued new Trust Services Principles (TSP Section 100) in April 2016 which supersedes the previous version issued in 2014. The most significant changes to the TSP include the following: Restructures and creates a new set of privacy criteria that is incorporated as part of the common criteria method of assessment and reporting…. Read more »

Upgrading QuickBooks – Do I Have To?

Do you have an older version of QuickBooks and wonder when the right time would be to upgrade to the newest version? A common question related to QuickBooks is whether or not you are required to upgrade your QuickBooks software and, if so, how often the upgrade should occur. The answer to this can depend… Read more »

Partners Who Work For Disregarded Entity Owned By Partnership Are Self-Employed, Regs Provide

The IRS has issued final, temporary and proposed regs that preserve a partner’s status as a partner, and not an employee, where the partner works for a disregarded entity owned by the partnership. The regs are consistent with Rev. Rul. 69-184, which concluded that members of a partnership are not employees of the partnership, even… Read more »

Do you Need A CPA?

These days, it’s hard to watch TV during tax season without seeing ads for CPAs. The question that has to be raised is this: in what circumstance do you need a CPA to help you file your taxes? Let’s take a look at a few of the situations in which you’ll likely appreciate the help… Read more »

Apple announces guidance to uninstall QuickTime for Windows users

Apple announced they will no longer be releasing QuickTime for Microsoft Windows security updates.   There are vulnerabilities affecting QuickTime for Windows.  It is recommended that you uninstall QuickTime to make sure your computer stays protected from security threats.   If you need help with uninstalling QuickTime or have questions regarding the security of your computer,… Read more »

Taxpayers can now pay IRS in cash at 7-Eleven

IRS’s “Pay with Cash at a Retail Partner.” IRS has announced a new payment option for individual taxpayers who need to pay their taxes with cash. Under the new arrangement that IRS provides in partnership with ACI Worldwide’s OfficialPayments.com and the PayNearMe Company, individuals can make a payment without the need of a bank account… Read more »

Choosing between SOC 2 Reports and ISO/IEC 27001 Certification

When it comes to choosing between a SOC 2 report and the ISO/IEC 27001 certification, there are advantages and disadvantages to each.  Each organization needs to come to a conclusion as to which fits best for the needs of their organization.  Some organizations find that it is helpful to have both. SOC 2 is a… Read more »

QuickBooks Tip: Reconciliation

Get better bookkeeping accuracy in QuickBooks with Reconciliation QuickBooks is a great tool for keeping track of your income and expenses, whether it is for your business or personal finances. But how accurate are your financial reports at any given time? One way to make sure you are keeping your books accurately is to use… Read more »

IRS Discovers New Twist to Phone Scams

The IRS has reported that telephone scammers are changing their scripts now that the filing season is more than halfway through. Scam artists are calling individuals and saying that the IRS has received their tax return but the Service needs more personal information, such as Social Security numbers and bank account numbers, to process the… Read more »

Having Your Business Taxes Professionally Prepared

These days TV and internet ads are filled with tax preparation software advertisements. Most of these claim that they make the process exceptionally simple. Tax laws continue to change year after year and these software companies try to keep pace with all the changes, to handle most basic tax preparation. Unfortunately, if your business is… Read more »