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Due to the risk of liability, CPAs and accounting firms may carry professional liability insurance to provide some protection from legal claims and lawsuits, although some firms choose to self-insure. [4] Concerns about high damage awards and insurance costs have led to proposals to limit liability for public accounting firms. [5]
Part two in a series, these 4 questions can be a good start to understanding your financial health. Without regular check-ins, you might think you’re on solid financial footing.
Freeadvice is a free US legal information web service that was established in 1997. In 2000 it was included by Forbes in its "Best of the Web" list, [1] and in 2004 it was identified by PC World as one of the Best 125 free websites, [2] and was featured sites in PC Magazine’s Best 1000 websites. [3]
Accountants keep busy at tax time: Average staff billable hours for accounting firms during the 2022 tax season was 1,467 hours, according to the CPA Journal. What does a financial advisor do?
An independent financial advisers (IFA) is a professional who offers independent advice on financial matters to their clients and recommends suitable financial products from the whole of the market. The term was developed to reflect a United Kingdom (UK) regulatory position and has a specific UK meaning, although it has been adopted in other ...
Persichitte cites the joke that the most common tax advice is to write off a G-Wagon every year. ... I’m an Accountant: These 5 Red Flags Could Spark Interest From the IRS. Show comments.
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The FATP privilege applies only to tax advice. The advice must be treated as confidential by both the accountant and the client to be covered by the privilege. If the communication is divulged to third parties, then it is not confidential. The privilege does not cover general business consultations or personal financial planning advice. [11]
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