Are Non-fungible Tokens Collectibles?
Non-fungible tokens (NFTs) became incredibly popular during the recent cryptocurrency boom and remain actively traded as a new asset class. Non-fungible tokens are unique digital assets that can represent ownership of v... Zac McClure
Case Study: How Hackers Attacked Tax Preparers and Enrolled Agents and How to Protect Yourself
While cyber insurance is a financial safeguard against a wide range of cyber-related events, one of the most powerful protections is from getting sued by a client after you have been hacked. Attackers have set their targets on ta... Gallagher Affinity
Year-End Crypto Tips for Practitioners
The cryptoasset space continues to evolve and change rapidly, and there several major changes that tax practitioners need to be aware of as 2022 enters the home stretch. The question about whether clients will be coming to practitioners with que... Dr. Sean Stein Smith, CPA
Ethical Considerations with Cryptocurrency Tax Preparation
Cryptocurrency taxation is an area that is here to stay, even though many tax professionals may wish otherwise. A March 2022 NBC News survey shows that more than 20 percent of American adults have interacted with cryptocurrency.i Some professionals... Matt Metras, EA
Cyber Insurance — Do You Have Adequate Limits?
Many insurance companies now offer cyber insurance as a part of their business package policies with available limits ranging between $25,000 to $50,000. Typically considered add-on coverage, this protection appears t... Robert G. Moody and George J. Kolczun, Jr.
Using Technology to Build Relationships
No one gets into business wanting to do sales. However, as a firm owner, you quickly realize it is a part of the job. With no customers, there would be no revenue, so you search high and low to find tho... Nayo Carter-Gray, EA
Cyber Insurance: What Am I Getting for My Money?
Along with everything else, the cost of insurance continues to rise. Because of the surge in cyber hacking claims, insurance companies have no choice but to raise their premiums. CFC, the underwriting company for the National Association of E... Robert G. Moody and George J. Kolczun, Jr.
Tax Needs Digital-Age Toolsets for Digital-Age Problems
The tide turned during the pandemic. Flood gates are buckling as it becomes clear that the need for action around technology and digitalization is now urgent and imperative. We see it happening across our contacts and network, and the big service providers, speciali... Geoff Peck
What Is Tax Technology?
There is a sea change happening in the tax industry: Where the focus was once on compliance, it is now about value—ensuring fair taxes are being paid, managing tax risk, evaluating the tax consequences of business activities, and more. Underlying this shift to a more... Brandon Van Volkenburgh
Cyber Insurance for Enrolled Agents
Enrolled agents (EAs) must have custody of client personal and financial information in order to provide the services that their clients require. Allowing some of that information to fall into the wrong hands can result in both financial and reputational harm to the...
The Future Is Cloud-First
Seventy-three percent of businesses are running at least one application on the cloud. It is a far cry from the 1990s—when people were planning for complete technological annihilation at the hands of the year 2000 (Y2K). Today, there is a sense of trust with a... Kate Wilson
Finance Leaders and AP Managers Key to Digital Transformation Strategy
When it comes to getting your business ready for the wave of digital transformation, getting up to speed and retooling with the help of new software is only one part of the necessary prep work. Experts from the MIT Sloan School of Business and consultancy Deloitte put it q... Yooz U.S. Editorial Staff
The State of ePayables in 2020: Why a Crisis Is the Right Time for AP Automation to Shine
Physical disruption and “work from home” mandates, furloughs and layoffs, downsizing, and outright business closures. The uncertainty gripping global markets during the COVID-19 pandemic and the challenging business climate has a silver lining for accounts payable (AP) groups. It is an oppo... Nimia Amaya
Creating a Data Breach Incident Response Plan
How to Construct a Data Breach Incident Plan A breach in data for any business can be both costly and stressful for employees and customers alike. Whether the breach leaks sensitive information, personal records, or credit card information, you should do eve... Gallagher Affinity Member Benefits and Services
Data and Network Security Risks Relating to the Coronavirus Outbreak and Response
In their response to the coronavirus outbreak, employees and other stakeholders will begin remote work and there is increased pressure on an organization’s cybersecurity risk management. A likely derivative effect of the outbreak, lower in priority but still significant, is increased pressure ... John Doernberg
Adapting Accounting Ethics to New Technology
The International Ethics Standards Board for Accountants (IESBA) recently restructured and revised its Code of Ethics for Professional Accountants. While the IESBA Code is not specifically geared toward management accounting and finance professionals, it d... Daniel Butcher
In the Game of Fraud, How Accounting and Tax Leaders Take Charge
Concern for security in today’s public and private sector companies continues to be more and more critical in a world of ongoing digital transformation, and it involves preventing and fighting fraud. The Association of Certified Fraud Examiners reports that U.S. businesses will lose an... Laurent Charpentier
Five Simple Tips Enrolled Agents can use to Find Lucrative Tax Resolution Clients
It is no secret that millions of taxpayers owe the IRS billions in taxes, and that, in fact, the number is only expected to grow in the coming years. It is also no secret that most of these overwhelmed taxpayers are buried under an avalanche of confusing forms, letters, and... Doresa Ibrahim
How AP Automation Puts the Smart in Smart Data Extraction
When it comes to invoice and payment processing (AP) automation, there is a lot of reference to optical character recognition (OCR). It is a buzzword that accounting professionals have likely heard about. What is it exactly? Optical character reco... Laurent Charpentier
The Dollars and “Sense” of Accounts Payable Automation: How Cost Savings Translate Directly to the Bottom Line
There is no doubt that finance and accounting leaders are realizing the value of automating their invoice and payment (AP) processing workflows. In fact, an impressive 84 percent of accounts payable practitioners are optimistic about the progress their department will make ove... Laurent Charpentier
The Rise of the Tax Technologist
The demand for tax professionals who can handle technical and scientific details and can act as true partners and advisors to the business is stronger than ever in today’s complex enterprises. Audi. BMW. Daimler. We know what business these companies are in, right? But look... Kate Barton
NAEA’s Cyber-insurance Program
This article introduces the coverage within the cyber-liability policy offered to the NAEA membership. The policy is supported by Lloyds of London utilizing a London managing general underwriter (CFC), and a U.S. domestic surplus lines broker (Evolve) and offered through The Arrow Group locate... The Arrow Group
Tax Season Is Phishing Season
As the tax deadline approaches, work hours increase and more time is spent going through emails. This is the time when it is important to be extra vigilant when answering emails, and fulfilling client email requests. However, cybercriminals are a constant threat and once the new... Linda Hamilton, MFA