If you have Office 365 (recently renamed as Microsoft 365), you now have access to several amazing dynamic array functions that will enable you to perform many helpful tasks. In this article we will give you several examples that illustrate the power of the SORT and SORTBY dynamic array functions.

Internal Revenue Service (IRS) penalties and fees for late filing, late payment or other errors can add up quickly for taxpayers. According to a recent government report, in 2022 alone the IRS collected more than $98.4 billion in unpaid assessments and assessed nearly $23.8 billion in additional taxes for returns not filed on time1. The payment for a simple mistake can be steep, but tax penalty abatement may be a solution.

Microsoft Excel now has 14 new functions that make it easier to manipulate text within spreadsheets. Excel text functions can be used to display text and numbers in a more readable format – especially valuable when you’re presenting a spreadsheet to a client.

If you need to identify distinct items when working with a large dataset, the Excel UNIQUE function can save you time. We're looking at this dynamic array function and providing a step-by-step guide on how to use it. 

Auditing provides you with the opportunity to work in virtually any industry. Whether you want the variety of clients found with a Big 4 or mid-tier accounting firm or you prefer working with single organization, there is a growing need for auditors and a variety of career paths available. But to get there, you have to understand the difference of internal auditors vs external auditors and find which option is right for you. 

As an accountant or finance professional, Microsoft Excel can be your life saver or the bane of your existence. If you use the program’s shortcuts and tools, it should be making your job easier by automating tasks and organizing dumps of data.

When you need to analyze a large quantity of data, taking a random sample helps you to make accurate, unbiased conclusions. Taking a random sample with Microsoft Excel can assist you with market or product research and serve a wide variety of business purposes. To help you get started, we'll share how easy it is to use Excel to take a random sample using realistic examples.  

If you’re in the process of choosing a major, you know that a LOT goes into the decision. You want to be interested in whatever you study, set yourself up for a career you’ll love, and ultimately weigh the pros and cons to see if you’ll succeed. If you’re considering picking accounting, one of the fundamental questions you may ask in this process is: Is accounting hard? Understanding the level of difficulty, advantages of having an accounting degree, and your long-term career goals can help you answer this question and decide if accounting is the right path for you. 

Recent studies indicate that approximately 36% of US workers (57 million individuals) participate in the gig economy as their primary job or as a way to earn additional income. The gig economy refers to people who are engaged in freelance and side-hustle work, such as ride share operators (e.g., Uber or Lyft), delivery services (e.g., Uber Eats or Door Dash), cleaning services, tutoring, babysitting, and pet sitting, versus a traditional job with an employer. As technology and the economy continue to evolve, estimates show that around 50% of US workers will join the gig economy by 2027.

For tax professionals working with partnerships, you need to know how to navigate the complexities of Form 1065 and Schedule K-1. To help you, we’ve written a guide on how to accurately complete these forms, detailing the necessary financial information, types of liabilities, and how to properly classify activities.