Month: August 2017

cognitive computing in the accounting world

What Is Cognitive Computing?

cognitive computing in the accounting world Experts are saying that the rise of cognitive computer will soon touch the accounting sector, but what is it and how will it aid in business operations?

“Managing change in an increasingly digital world is both a challenge and an opportunity for accounting firms. Today, we are entering the era of the “Smart Internet,” as machines can be taught to learn. As a profession, we must be thinking about how we will embrace these rapid changes in technology as they are headed straight toward us at an accelerating pace…” [ Read more here ]

Avoid IRS Troubles With Your Taxes

Tax time may not be everyone’s favorite time of the year, but at Sterling Accounting, there’s no lost sleep! Don’t run into troubles with the IRS over your taxes – be sure you are going to rank on their good side with the expert help of Sterling Accounting.

“More Americans who pay their income taxes each quarter are being penalized by the IRS for making mistakes or missing payments.

There’s been a nearly 33% jump — from almost 7.5 million to nearly 10 million — in the number of penalties levied between fiscal years 2007 and 2016, IRS data show…” [ Read more here ]

Taxes And Your Rental Properties

Sterling Accounting is your answer for all the operating needs of your rental property. Cut the worry and work, and let the money roll in with little effort on your part!

“Keep in mind that real estate can be a great investment as part of a complete investment portfolio, but you need to be mindful that there is a tax effect and should be one aspect of your concerns…” [ Read more here ]

IRS Plans Out Online Tax Appeals Conferences

Insurance Dedicated Funds (IDFs)Want to skip the court room with your IRS tax issues? It may be an option on the table soon, as the IRS is planning out an online tax appeals conference system to aid your battle…

“Resolving your tax issues with the Internal Revenue Service (IRS) just got a little bit easier – assuming you have an internet connection. The IRS has announced that the Office of Appeals will pilot a new “web-based virtual conference option” for taxpayers and their representatives…” [ Read more here ]

Tax Pro’s Uncertain They Will See Tax Changes This Year

Are we likely to see a tax shakeup with the proposed reform taking place this year? Tax professional’s aren’t all that certain… “Nearly two-thirds of the survey respondents (63.5 percent) said compromise in Congress is most needed to ensure passage of tax reform. For the survey, Deloitte polled more than 3,100 attendees during a webinar last month….” [ Read more here ]

Why Is Filing Taxes In America Such A Pain

America’s tax system can be a nightmare for many, with the endless paperwork, and tracking of all your finances. But tax time doesn’t need to incite fear! Get the professional help of Sterling Accounting, today!

“Americans will spend more than six billion hours this year gathering records and filling out forms, just to pay their taxes. They will pay some $10 billion to tax preparation firms to help get the job done and spend $2 billion on tax-preparation software…” [ Read more here ]

Diving Into The Future Of The Accounting Industry

Technological advances have supercharged the accounting industry, allowing individuals to begin using their time differently thanks to the implementation of automation, and it continues to shape the future of the industry…

“The accounting industry was one of the first to be impacted by an increase in advanced data technology, with the adoption of technologies such as tax software and tools that help accountants reduce the amount of errors made. However, based on recent Bureau of Labor Statistics data, and what we see at accounting staffing firms, the future of accounting shines brightly for those with established careers and those still trying to determine if it’s the right career path for them…” [ Read more here ]