Russell Bedford - USA
Modern vs. Legacy Accounting Software: Is It Time for an Upgrade?
April 2025
Technology is advancing at an exponential rate. To put this into perspective, it took 2.4 million years for our ancestors to discover and control fire for basic needs, yet only 66 years passed between the first airplane flight and having humans landing on the moon. Knowing this, if your accounting software looks and feels like it was designed in the early 2000s, it’s probably time for an upgrade. Here’s why:
What is the Returning Citizens Credit?
April 2025
Is your business fully leveraging available tax credits? The Returning Citizens Credit is a valuable incentive that could reduce your tax liability while supporting workforce reintegration for formerly incarcerated individuals.
Tax Season Cleanup: Which Records Can You Toss?
April 2025
If you’ve filed your 2024 tax return, you may be eager to do some spring cleaning, starting with tax-related paper and digital clutter. The documentation needed to support a tax return may include receipts, bank and investment account statements, K-1s, W-2s, and 1099s. How long must you save these records? Three years is the general rule. But don’t be hasty: Failure to keep a paper trail for the information reported on a tax return could lead to problems if the IRS audits it.
Business World March 2025
March 2025
Russell Bedford International has released the March 2025 edition of its biannual magazine, BUSINESS WORLD.
Unveiling the Hidden Costs: How Non-Compliance in Foreign Asset Reporting Could Lead to Substantial Penalties
March 2025
In an increasingly globalized world, many U.S. taxpayers find themselves with financial interests or assets located outside the United States. Whether through inheritance, investment, or business ventures, these foreign assets come with specific reporting requirements mandated by the Internal Revenue Service (IRS) and the Financial Crimes Enforcement Network (FinCEN). Understanding these requirements is crucial to avoid severe penalties. This article explores the various forms and thresholds involved in foreign asset reporting, including the FBAR (FinCEN Form 114), Form 8938, and others, while also highlighting common scenarios where individuals might unknowingly hold foreign accounts.
Russell Bedford delighted to share global results relative to peers
March 2025
Russell Bedford is proud to be a network of independent member firms with an externally approved Annual Quality Control process. This year, Russell Bedford has reverted to first principles in calculating its ranking. As such, we are delighted to announce that we are the 16th largest network in the world based on being a recognised network by the Forum of Firms, with revenues generated by our network members.
Firm Focus: WBL CPAs + Advisors
March 2025
Founded in 1982, WBL CPAs + Advisors offers audit, accounting, advisory, transaction, family office and tax services for domestic and international middle-market companies, nonprofit organizations and high net-worth individuals.
Zero-Based Budgeting: The Bold Way to Stop Wasting Money and Start Growing
March 2025
Picture this: You’re hunched over last year’s budget, crossing out line items you think you can live without. And then what happens? The same stuff makes it back on the list anyway. Why? Because “that’s what we spent last year,” right?
Russell Bedford International releases 2024 Global Performance Report
February 2025
Russell Bedford International is proud to present the network's 2024 Global Performance Report, showcasing another year of remarkable progress and expansion.
Russell Bedford International North America Conference 2025
February 2025
The Russell Bedford International North America Conference 2025 in New Orleans, USA, brought together members from across the region for insightful discussions, valuable networking, and strategic planning for the future.
Selling a Business? Get Peace of Mind with an Experienced CPA Firm
February 2025
Selling a business is a significant financial endeavor that involves a multitude of complexities and considerations. Whether you’re a seasoned entrepreneur or a first-time business owner looking to move on to new ventures, the process can be both exciting and overwhelming. One key element that can greatly contribute to a successful business sale is partnering with an experienced Certified Public Accountant (CPA) firm. A CPA firm brings a wealth of financial expertise and strategic insight to the table, ensuring that every sale aspect is meticulously planned and executed.
Navigating Audit Preparedness: Your Friendly Guide to a Smooth Financial Statement Audit
January 2025
In the bustling world of business, audits are a vital part of validating the accuracy and integrity of financial statements. But let's face it, the audit process can sometimes be a bit of a marathon and a source of stress. As Director of Assurance at WBL CPAs + Advisors, I have had the privilege of witnessing how a well-prepared organization can make their audit process a breeze. So, here is a handy guide to help you gear up for your next financial statement audit.
Choosing a Business Structure for a Startup: What’s the Best Legal Entity for My Business?
December 2024
Starting a business is an exciting journey that requires careful consideration, planning, and decision-making, especially when it comes to selecting the right business structure for startup. As an entrepreneur, you know that your business’s legal entity has significant implications for liability, taxation, management, and more, so it’s critical to choose wisely.
SEC Adopts Rule to Provide Greater Transparency of Short Sale-Related Data by Institutional Investment Managers
October 2024
On October 13, 2023, the Securities and Exchange Commission adopted new Rule 13f-2 (Release No. 34-98738) and related Form SHO and an amendment to the national market system plan governing the consolidated audit trail to provide greater transparency to investors and other market participants by increasing the public availability of short sale-related data.