Trending Articles

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Protect Your Startup’s Finances: 12 Proactive Risk Management Tips

BurklandAssociates

Mitigate financial risks at your startup and help ensure a smooth path towards sustainable growth and long-term success with these tips. The post Protect Your Startup’s Finances: 12 Proactive Risk Management Tips appeared first on Burkland.

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Next Generation FP&A with Acterys: 5 takeaways from the Workshop

Acterys

Acterys’ esteemed Italian partner, Bi Factory , recently hosted the “Next Generation FP&A” workshop on April 11, 2024. This event was specifically arranged for Italian organizations aiming to refine their planning and analytics processes. Featuring profound insights from industry experts at Bi Factory, including Franco Perduca (CEO and CTO), Sara Bozzo (CEO and Team Lead), and Walter Gabetta (Head of Global Business Relationship), the workshop attracted numerous companies a

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Sales Tax Updates: What’s new in sales tax for April?

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Leveling the field. A bill that would raise the online sales tax in Alabama is progressing with state lawmakers. The current Alabama sales tax is 8% for online purchases, the same as for purchases at the state’s brick-and-mortar stores.

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Let’s Brainstorm Shopping Ideas For Underwear Strong Enough to Accommodate This PwC CEO’s Massive Balls

Going Concern

It’s been a little over a year since Australian Financial Review uncovered a scandal when it peered underneath the rug PwC Australia was trying to hide its dirty business under, a scandal that saw a trusted partner using his position on a government tax panel to monetize confidential information that clients could use to get ahead of an upcoming change in tax law.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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What You Need to Know About the DEA’s Plan to Reschedule Cannabis – A Focus on Taxation

Withum

In a landmark move, the Drug Enforcement Administration (DEA) announced on April 30, 2024, that it will initiate the process of rescheduling cannabis from Schedule I to Schedule III under the Controlled Substances Act (CSA), effectively recognizing its medical value and opening the door for more research and legal access. The decision comes after years of pressure from advocates, lawmakers, and scientists who have argued that the current classification of cannabis as a highly dangerous, addictiv

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Making the (use) case for AI

Accounting Today

Accounting firms that have embraced artificial intelligence are primarily using it to analyze documents, automate tasks and bolster client communication.

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May is Military Appreciation Month

Insightful Accountant

May is Military Appreciation month in the US and we at Insightful Accountant want to say "Thank You" to those who are serving or have served, and to their families for their service.

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Real Accounts: What to Know About These Permanent Accounts

Patriot Software

In accounting, you deal with a variety of accounts to balance and organize your books. One type of account you will likely run into is a real account. But, what are real accounts exactly? And, how does it differ from other accounts in accounting?

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4 Accounting Transactions that Use Journal Entries and How to Enter them in QBO

Ronika Khanna CPA,CA

Accounting software has come a long way in the past few years. Although a good bookkeeper can be invaluable, It has become fairly easy for business owners and their support staff to take on the responsibility of entering day to day transactions while they employ accountants for the more complex aspects of their accounting and tax. When using accounting software such as Quickbooks Online , the majority of transactions relate to invoicing customers, supplier bills and categorizing expenses that ha

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Oregon senator demands refunds for TurboTax customers

Accounting Today

Sen. Ron Wyden, in a letter, demanded that TurboTax refund customers who, due to a software glitch, were inappropriately encouraged to take non-optimal choices, resulting in higher taxes.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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95% of Small Biz Owners Happy with Company They Started

CPA Practice

Although many small business owners face continued economic uncertainty, their personal drive and long-term aspirations are buoying their optimism. That’s according to data from the third Amex Trendex: Small Business Edition, an annual survey commissioned by American Express. “Small business owners are concerned about issues like pricing and cash flow, but they are overwhelmingly happy that they chose their career path as an entrepreneur, and most intend to be small business owners for the long

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"Thank You" Intuit Trainer/Writer Network Members

Insightful Accountant

While Intuit has sunset the Trainer/Writer network and gone back to the drawing board on how to provide training and education for the QuickBooks Community, Insightful Accountant wants to thank all Trainer/Writer Network members.

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EY Selects Unconventional Entrepreneur as Finalist for Entrepreneur of the Year® 2024

Patriot Software

Canton, OH Patriot Software is proud to announce that its founder & CEO, Mike Kappel, has been selected by Ernst & Young LLP (EY US) as a finalist for the EY Entrepreneur Of The Year® 2024. Kappel is among 29 entrepreneurs selected by an independent panel of judges.

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How to Change Your Personal Tax Return After It Has Been Filed

Ronika Khanna CPA,CA

Despite your (and/or your accountants’)best efforts , occasional errors or omissions relating to your personal tax return are unavoidable. It is possible that you forgot to include a tax slip, overstated your expenses or was unaware of a specific tax credit. Luckily there is fairly simple mechanism that allows you to change your tax return, which can either be done online or by filling out a form and mailing it in.

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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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Generative AI expected to grow, not shrink, headcount

Accounting Today

A set of polls has found that leaders expect that generative AI will lead organizations to actually increase, not decrease, their headcount, at least in the short term.

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IRS Issues FAQs on Disaster Relief For Retirement Plans and IRAs

CPA Practice

The IRS on May 3 issued frequently asked questions in Fact Sheet 2024-19 about a provision in SECURE 2.0 that provides special rules relating to distributions from retirement plans and IRAs and for retirement plan loans for taxpayers impacted by federally declared major disasters. Prior to the changes made by SECURE 2.0, which was enacted in December 2022, there was no disaster relief allowing these distributions and loans that applied generally for all major disasters.

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Three Workarounds for the Cap on SALT Deductions

CTP

When the Tax Cuts and Jobs Act of 2018 introduced a new $10,000 cap on state and local tax (SALT) deductions, taxpayers living in areas with high state-level taxes felt the hit. Highly-impacted states like California, Connecticut, Illinois, New Jersey, New York, or Pennsylvania quickly began searching for ways to provide relief to their taxpayers. Only individual taxpayers filing itemized deductions Schedule A are affected by this limitation.

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Types of Audits: Breaking Down 9 Different Audits

Patriot Software

As a small business owner, you need to conduct regular audits to ensure your records are accurate. Although many business owners dislike the idea of auditing, audits can be beneficial to your company. Learn more about the different types of audit below.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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Canopy Raises $35M in New Funding Round

Canopy Accounting

South Jordan, UT – [May 8, 2024] – Canopy, the firm-wide operating system that helps accountants build the firm they’ve always wanted , is thrilled to announce the successful raising of $35 million in an oversubscribed round. The round was led by Ten Coves Capital and Ankona Capital, with participation from Pelion Venture Partners, Tenaya Capital, and NewView Capital.

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IRS updates modernization plans

Accounting Today

The Internal Revenue Service released an update of its Strategic Operating Plan, with improvements planned in services and technology for both taxpayers and tax professionals.

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The Accounting Technology Lab Podcast – Review Of Datamatics – May 2024

CPA Practice

Hosts Randy Johnston and Brian Tankersley, CPA, look at Datamatics , a digital technologies, operations, and experiences company that enables hundreds of global enterprises to go “Deep in Digital” to enhance their productivity and customer experience to create a sustainable competitive advantage. Use the video player below to watch, or the podcast player below to listen to the podcast.- – Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcripti

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Note to Partners: Make Sure Your Interns and Associates Know How to Avoid Sus Links and Phishing

Going Concern

Remember the Deloitte survey a while back that found Gen Zers were more than twice as likely as boomers to have their social media account hacked * (17% vs. 8%) and three times more likely than boomers to fall for an online scam (16% vs. 5%)? A refresher: Deloitte Survey Finds Zoomers Are 3x More Likely to Fall For Scams Than Boomers So Why Don’t More of Them Work at Deloitte Today EY released the results of its 2024 Human Risk in Cybersecurity Survey and Gen Z workers who use work-issued

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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What Is an Exempt Employee?

Patriot Software

Are all of your employees eligible to receive overtime pay? Some employees are exempt from overtime pay and minimum wage laws. Exempt employee qualifications are determined by the Fair Labor Standards Act (FLSA). To run payroll correctly, you need to be familiar with exempt employees. What is an exempt employee?

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Getting to Know QuickBooks Desktop Alternatives

Insightful Accountant

During the upcoming Insightful Accountant Future Forward Event Murph will be presenting two sessions on Migrating from QuickBooks Desktop. One focuses on apps suitable for QBD Pro users, and the other QBD Premier users.

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SEC shuts down auditor BF Borgers with $14M in fines for fraud on 1,500+ filings

Accounting Today

The Securities and Exchange Commission charged the fast-rising auditing firm with deliberate, systemic failures to comply with PCAOB standards for audits and reviews.

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Police Accountant Charged With Stealing From City of Wichita, KS

CPA Practice

By Michael Stavola, The Wichita Eagle (TNS) A former Wichita Police Department associate accountant had a first appearance in court this week on charges accusing her of stealing money from the city. Shauna Marie Dickman, who appeared in Sedgwick County District Court on Tuesday morning, has been charged with two counts of felony theft, an April 2 complaint filed by the Sedgwick County District Attorney’s Office shows.

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.

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Imagine the Chaos If the PCAOB Starts Naming and Shaming Audit Deficiency Clients

Going Concern

In its desperate quest to appear as though it does something of value to capital markets, the PCAOB is considering putting company names to inspection report deficiencies according to a recent story by Wall Street Journal. Currently, the PCAOB refers to clients as Issuer A, B, C etc. and includes only the client’s industry. Here’s an example from KPMG’s sketchy 2022 PCAOB inspection report : A Part IA deficiency like the one in the screenshot above is of such significance that

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How to Create a Prepaid Expenses Journal Entry

Patriot Software

Do you ever pay for business goods and services before you use them? If so, these types of prepaid expenses require special attention in your books. You need to create a prepaid expenses journal entry. So, do you know how to record a journal entry for prepaid expenses? Don’t panic if you don’t.

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Moving Your Skagit County Business Toward Positive Cash Flow

SkagitCountyTaxServices

Did you know the Financial Crimes Enforcement Network (FinCEN) has a YouTube page ? Guess everyone’s got one these days, huh? I bring this up because, on Tuesday, April 30th, they are hosting a little information-giving session on their channel about Beneficial Ownership Income reporting. I’ve mentioned BOI reporting previously as it’s something all corps and LLCs will need to make sure they are complying with by the end of the year.

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Small business hiring slowed in April, but pay grew

Accounting Today

The pace of small business job growth slackened in April, but hourly earnings ticked up to 3.34% for the month, ending a nearly two-year slowdown, according to payroll processor Paychex.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.