News

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Problem Solving Financing – What are my options? APS Holmes Group is here to help!

So, you have decided to purchase a practice. Whether for an acquisition to your existing firm or you are an individual looking to purchase an already established practice for yourself; The process of purchasing can seem daunting. APS is here to guide you through this process, and as a buyer, our expertise and experience is a free service at your disposal.

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Accounting-1

One Times Gross: Is that the Law?

Accounting practices are worth one times annual gross revenue.” This is a belief that has been around our profession for decades and, in fact, still drives the marketplace. No one can really explain why one times gross is such an accepted formula, but whatever the reason for the wide-spread thought, it is so persistent that many accountants do consider it some immutable law.

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What Is an HR Compliance Checklist and Why Is It Important For Your Clients?

Ensuring HR compliance is crucial for business success, but it can be complex. With an increase in employment laws and regulations, non-compliance poses a significant risk of penalties and fines.

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IRS Announces Moratorium on New Employee Retention Credit (ERC) Claims Amidst Concerns of Fraudulent Activity

In a move aimed at safeguarding honest small businesses from potential scams, the Internal Revenue Service (IRS) declared an immediate moratorium on the processing of new Employee Retention Credit (ERC) claims from September 14th through until at least the end of the year.

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Celebrate

The Michigan Association of CPAs Host 2023 Awards to Honor Accounting’s Best and Brightest

The MICPA recognizes award honorees and promotes student fundraising November 9.

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3 Keys to a Successful Accounting Firm: Performance, Profitability, and Payments

Building a successful accounting firm isn’t a math problem—there’s no one right solution, which is why the road can seem so difficult. Fortunately, there are a few general rules of thumb that can act as guideposts and make your path easier.

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IRS Guidance Changes SECURE Act 2.0 Effective Dates of Provisions for Workplace Retirement Plans

Recently published IRS guidance regarding SECURE 2.0 updated the effective dates for certain provisions related to workplace retirement plans. In a new white paper, Paychex breaks down the top SECURE 2.0 provisions and their updated effective dates.  

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Form 1099K: Policy & Preparation

Last year, tax season felt like a return to normal thanks in some part to the IRS for delaying implementation of the new $600 threshold for Form 1099-K reporting. After nearly a year, however, and with multiple proposals to raise the threshold still in their earliest of phases, tax professionals should be prepared to contend with the tax code in its current form.

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MICPA Celebrates 2023 Outgoing Board Members, Welcomes New Additions

Our organization is only as impactful as those who volunteer to ensure its many initiatives are realized, and our board members donate their time, insights, and expertise to ensure the association continues to be a meaningful source of support, knowledge and advocacy for current and future generations of CPAs. Join us as we recognize our outgoing board members for their hard work and dedication and get to know our incoming board members.

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MICPA Announces 2023 Women to Watch Award Honorees

The MICPA is proud to announce its 2023 Women to Watch Award honorees, Sheryl M. Madden, CPA, controller, deputy CFO, the Kresge Foundation, vice chair of the MICPA professional ethics committee, and Meg Warner, CPA, senior accountant, Yeo & Yeo CPAs & Advisors.

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