TaxConnex

DECEMBER 14, 2023

In sales tax calculation, you deal with the “hard” and the “less-hard.” Figuring out sales tax obligations for goods (aka, tangible personal property, or TPP) is the less-hard part; you merely have to bear in mind that every state that taxes TPP does it a little differently. Services, on the other hand, are the hard calculation. Not every state taxes services not every state taxes the same ones, and those that do tax services do so in a galaxy of ways.

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West Virginia Virginia Kentucky Minnesota 208

CPA Practice

DECEMBER 14, 2023

There are slight changes in the IRS-issued optional standard mileage rates for 2024, which are used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car, van, pickup truck, or panel trucks will be: 67 cents per mile driven for business use, an increase of 1.5 cents from 2023. 21 cents per mile driven for medical or moving purposes for qualified active-duty mem

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Tax 129

Going Concern

DECEMBER 14, 2023

Actually RIP the entire four-part CPA exam. Tomorrow, December 15, 2023, is the last day anyone will ever sit for BEC before it shuffles off into examination heaven and takes written communication with it. That’s right, no more written communication on the CPA exam. Wyoming and Idaho were the states with the latest application deadline for BEC — November 15 — while most others cut off re-exam NTSs on November 12 and first-time NTSs on October 1.

Wyoming 120

Wyoming Idaho CPA 120

CPA Practice

DECEMBER 14, 2023

A new study by top 15 accounting firm Moss Adams revealed that 69% of accountants believe artificial intelligence will enhance rather than eliminate jobs and has a positive impact on the accounting profession as a whole, driving productivity and business growth. “AI is here, and accountants are actively embracing the technology,” Bill Armstrong, chief innovation officer at Moss Adams, said in a statement.

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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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Accounting Today

DECEMBER 14, 2023

The American Institute of CPAs provided information for U.S. accounting professionals on the potential impact on their out-of-state engagements if some of the pending legislation in some states on licensure requirements is enacted.

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CPA cpas Account accountant 116

Withum

DECEMBER 14, 2023

On December 13, 2023, the Financial Accounting Standards Board (FASB) finalized Accounting Standards Update (ASU) 2023-08 “Accounting for and Disclosure of Crypto Assets”. The amendments in the expedited ASU aim to improve the reporting of crypto assets by requiring entities to present crypto assets at fair value instead of the previously used cost-less-impairment model.

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accounting standards Account accountant accounted 116

Withum

DECEMBER 14, 2023

Withum is proud to share that Accounting Today has once again named Jim Bourke , Managing Director of Advisory Services and Ed Mendlowitz , Emeritus Partner, on their annual Top 100 Influential People in Accounting. The Top 100 are chosen for their outstanding contributions to the industry, including their leadership, mentorship, and how they use their voice to promote and advocate for the profession.

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Account accountant accounted 112

CPA Practice

DECEMBER 14, 2023

The Financial Accounting Standards Board ( FASB ) has issued an Accounting Standards Update (ASU) that addresses requests for improved income tax disclosures from investors, lenders, creditors, and other allocators of capital (collectively, “investors”) that use the financial statements to make capital allocation decisions. “The new standard responds to calls from investors for more transparent, decision-useful information about a company’s income taxes,” stated FASB Chair Richard R.

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income tax Tax accounting standards financial statements 110

Accounting Today

DECEMBER 14, 2023

The Financial Accounting Standards Board issued an accounting standards update Thursday aimed at improving income tax disclosures from companies.

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income tax Tax accounting standards financial accounting 120

CPA Practice

DECEMBER 14, 2023

Sean McDonnell cleveland.com (via TNS) Not long ago it looked like interest rates on mortgages would top 8%, but instead they’ve gone the other way. The average rate on a 30-year fixed mortgage was 6.95% Thursday, according to Freddie Mac, a government-sponsored home-loan agency. It had gotten as high as 7.79% in October, which was the highest rate seen since 2000.

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Government 98

Advertiser: Paycor

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Accounting Today

DECEMBER 14, 2023

The International Internal Audit Standards Board voted to approve a set of new standards that are expected to be released in January.

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audit Account accountant accounted 122

Insightful Accountant

DECEMBER 14, 2023

Tax training has been added to the QuickBooks Online Accountant, ProAdvisor Training tab. Training is available for both ProConnect Tax Online and Intuit Tax Advisor products.

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Tax quickbooks online accounting Account 96

AccountingDepartment

DECEMBER 14, 2023

We're happy to announce that AccountingDepartment.com is gearing up for its 10th Vistage ChairWorld event in January! As a proud National Sponsor for the past decade, this event holds a special place in our hearts, and we can't wait to reconnect with familiar faces and forge new connections in 2024.

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Insightful Accountant

DECEMBER 14, 2023

Insightful Accountant is extending the 2024 ProAdvisor Awards Period for Nominations by a Third-party until January 20, 2024.

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Account accountant accounted 108

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.

Withum

DECEMBER 14, 2023

The Internal Revenue Service (“IRS”), Department of Labor (“DOL”), and Pension Benefit Guaranty Corporation (“PBGC”) recently released the 2023 Form 5500s, rolling out significant reporting changes for the 2023 tax year. Form 5500 Reporting Changes Some of the more significant changes to note are as follows: New Participant Counting Method for Audits of Defined Contribution Plans The 2023 Form 5500 and Form 5500-SF Instructions have been modified to reflect the new participant counting method

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audit financial statements Legal Tax 76

Accounting Today

DECEMBER 14, 2023

The U.S. has spelled out new rules for tax credits manufacturers can receive for domestically producing parts necessary for the energy transition — and there's a clear divide for miners and processors.

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Tax Manufacturing 73

CPA Practice

DECEMBER 14, 2023

By Michael Grothaus, Fast Company (TNS) If there’s one word that sums up 2023 in most employees’ minds, it’s “anxiety,” according to the jobs and careers site Glassdoor. Based on an analysis of Glassdoor conversations, the company says mentions of “anxiety” by users were up 338% in 2023. But what’s even more interesting than the word of the year are the related terms used in Glassdoor discussions, which go a long way toward explaining just why professionals were feeling so anxious in 2023.

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Accounting Today

DECEMBER 14, 2023

The Institute of Management Accountants reported increased salaries and job opportunities for Certified Management Accountants as opposed to those without certifications.

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management accounting management accounts Account accountant 73

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

Technology

CPA Practice

DECEMBER 14, 2023

By Jamie Feldman, Kiplinger Consumer News Service (TNS) Household wealth in the U.S. increased during the pandemic but, much like the situation before COVID-19, there remains a large disparity of this wealth between the country’s poorest and richest people. According to a recent Pew Research Center study , which used data from the Census Bureau’s 2020, 2021, and 2022 Surveys of Income and Program Participation, households with more wealth saw an increase in wealth of about $57,800 from 2019 to

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New York Control Spend Washington 75

Accounting Today

DECEMBER 14, 2023

The International Sustainability Standards Board is providing information to companies to help them adopt its sustainability and climate disclosure standards before they take effect in January.

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accounting standards Account accountant accounted 70

MineralTree

DECEMBER 14, 2023

What is Digital Invoice Approval? Digital invoice approval involves reviewing, approving, and processing invoices electronically prior to payment. An electronic approval workflow takes out the paper-based component of this process to improve transparency, allowing teams to accurately track the status of their invoices. As a result, finance teams increase efficiency , while reducing manual tasks.

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accounts payable AP Processes AP Automation Approval Workflows 66

Accounting Today

DECEMBER 14, 2023

ERP systems need to be constantly reassessed as business needs shift and new priorities arise.

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accounting software Technology Account accountant 104

Advertiser: Paycor

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.

CPA Practice

DECEMBER 14, 2023

The American Institute of CPAs has released information for accounting professionals on the potential impact to their out-of-state engagements if pending state bills altering licensure requirements are enacted. The document includes background information and a compliance checklist for CPAs to determine the impact on them if a state unilaterally changes its requirements necessary for licensure.

South Carolina 59

South Carolina cpas Minnesota CPA 59

Accounting Today

DECEMBER 14, 2023

The deal saved hundreds of Chinese companies in the U.S. from being booted off American stock exchanges but has done little to revive the flow of initial public offerings.

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audit 68

CPA Practice

DECEMBER 14, 2023

Top 30 accounting firm Sikich said on Thursday it has agreed to acquire the federal government practice of top 10 accounting firm CliftonLarsonAllen (CLA), a move that will expand the Naperville, IL-based firm’s presence in the Washington, D.C. market. More than 70 employees, including four principals, from CLA’s federal government practice will join Sikich’s D.C office after the transaction closes on Dec. 31.

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Government Washington Transportation accounting firms 59

Accounting Today

DECEMBER 14, 2023

High-stakes Treasury guidance for claiming hydrogen production tax credits has drawn the ire of Senator Joe Manchin.

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Tax 90

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Finance

Cherry Bekaert

DECEMBER 14, 2023

The Inflation Reduction Act of 2022 (IRA) brought substantial improvements to Section 48 that addresses rules for identifying and claiming an investment tax credit (ITC) for renewable energy and energy storage facilities. The IRA extended the timeframe for claiming, increased the amount for the initial investment, and broadened the types of technologies eligible for energy tax credits.

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Tax accounting and finance Technology Finance 52

Accounting Today

DECEMBER 14, 2023

Amazon said the ruling confirms that it "followed all applicable laws and received no special treatment.

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Tax 70

Insightful Accountant

DECEMBER 14, 2023

Learn about starting your own bookkeeping business through the BooXkeeping franchise opportunity. Build a successful business that delivers a vital service in a high-demand industry.

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quickbooks bookkeeping 52

CPA Practice

DECEMBER 14, 2023

Professionals on the Move is a round-up of recent staffing, promotion and achievement announcements from around the profession. H&R Block Celebrates Top Performing Franchisees for Their Bold Commitment to Client Experience and Company Transformation H&R Block (NYSE: HRB) recently revealed its Featured Franchisees of the Year during the company’s Frontline Forum virtual general session.

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Iowa Texas Utah Ohio 52

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"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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