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Local firm management news from around the web: April 4 – 8, 2022

Written on Apr 6, 2022

What offering CAS can mean for your firm 
CAS is one of the fastest-growing revenue-generating segments for accounting firms, but what exactly is it? What are its benefits and impacts, and how do you incorporate them into your practice?  

Paying a nanny in Venmo? Pay attention to new tax-reporting rule 
Your clients with household help — such as nannies, housekeepers and senior caregivers — may be paying their workers through a mobile app like Venmo or PayPal. It’s quick and easy, but thanks to a new tax-reporting rule, it may no longer be a good idea. 

How to tell when related-party rules apply 
Clients who are considering selling investments to related parties should be aware of how and when the rules apply. Tax guru Julian Block explains some of the rules, such as when it pays to buy a relative's investment loss, and when it doesn't. 

Auto depreciation limits leap with inflation 
The IRS has issued sharply higher new depreciation limitations for passenger automobiles, reflecting inflation of vehicle prices in the past year. These limits are updated annually for inflation according to the automobile component of the chained consumer price index for urban consumers. 

Tech Corner – Why Apple’s logo has a bite taken out of it 
Not only does the bite mark imply that the shape represents a fruit you’d typically take a bite out of while eating, but it also gives the apple shape a sense of scale.