outlook & analysis

the economy’s biggest winners & losers from immigration

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cpa firms with clients in coastal and southern border states may be most vulnerable to loss of immigrant economic activity.

economic impact of immigration, ranked by state. source: wallethub

by 卡塔尔世界杯常规比赛时间 research

if there’s ever any massive curtailment of immigration into the united states, cpa firms in states along ocean coasts and in major metro markets may be the most vulnerable to losing prospective clients and future job candidates.

a new study of demographic trends nationwide finds that immigrants play an especially key role in economic growth on both coasts with california, new jersey, florida, new york and hawaii, ranking as the states with highest percentages of jobs created by immigrant-owned businesses.

the study, conducted by the personal finance advisory web site wallethub , further finds that california, new jersey, new york, delaware and massachusetts are where foreign-born people hold the greatest percentages of jobs in the fast growth technology science, technology and engineering fields.

meanwhile, new jersey, along with the district of columbia and its neighbors virginia and maryland, are where households headed by immigrants have the highest incomes.

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2017: old challenges, new opportunities

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the five issues that will determine success or failure for firms

business hand holding hot chart in crystal ballby bill carlino
transition advisors

the landscape for public accounting in 2017 and beyond can be distilled into two categories: challenges and opportunities.

and how cpa firms engage both will, for the large part, determine their viability and even existence in the ensuing years.

the truth is that you simply can’t operate a cpa firm in 2017 like you did in 1980 and hope to be successful. it’s still astonishing how many firms remain stubbornly entrenched in antiquated business models developed by the baby boomers and even generations before.

the good news for the profession is that the recession of 2008 appears to be safely in the rear view mirror in terms of impacting cpa firm growth. growth for the top 100 firms topped over 9 percent according to the most recent statistics available, while firms $2 million and under registered growth of more than 8 percent.

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ge outsources tax department to pwc

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big four firm finds new growth in acquiring clients’ tax and accounting departments.

by 卡塔尔世界杯常规比赛时间 research

ge is hiving off its tax group to pwc to become pwc’s new global enterprise tax solutions team. their first client: ge.

pwc calls the move “an innovative agreement with ge to provide integrated, enterprise managed tax services to ge on a global basis.” as part of the deal, pwc is hiring more than 600 of ge’s tax team members from around the world and acquiring ge’s tax technologies to bolster both pwc’s focus on the “tax function of the future” and to provide global enterprise tax solutions to clients. it may be a sign of things to come. read more →