ThomsonReuters

NOVEMBER 28, 2023

Jump to: Reflect on your current tax workflow Use automation to boost staff engagement and retention Unlock growth opportunities With staffing shortages of epic proportions, the accounting industry is facing a crossroads. In recent years, more tax professionals have exited the industry than entered it, which presents the potential for detrimental effects across the business and financial world.

Technology 112

Technology Account accountant accounted 112

TaxConnex

NOVEMBER 28, 2023

Selling outside the U.S. does not free you from the complexities of sales tax. In many countries, you will run into some kind of sales tax – familiar if you’re used to selling in the U.S., but different, too. Europe’s value-added tax VAT is applied at each stage of the supply chain and is recoverable by most businesses and, similar to American sales tax, rates are generally applied at a local (in Europe’s case, usually by country) level with exceptions on certain products.

Sales 210

Sales Tax Transportation Maine 210

Accounting Today

NOVEMBER 28, 2023

The lowering of the Form 1099-K threshold from $20,000 to $600 will not only produce millions more forms to be sent to taxpayers, but could also prompt many of them to abandon online marketplaces and gig economy jobs.

Tax 126

Tax 126

Going Concern

NOVEMBER 28, 2023

Let’s all take a moment to be thankful that things aren’t as dire here at home as they are across the pond. For the moment. Financial Times reported on the Friday after Thanksgiving — just another day to the Bri’ish, thank goodness — that the pay freeze at KPMG UK initially in effect only for its suffering deals business is now extending to 12,000 staff across service lines.

audit 113

audit Legal accounting firms Tax 113

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.

Account

Accounting Today

NOVEMBER 28, 2023

Public Company Accounting Oversight Board chair Erica Williams described the work the PCAOB has been doing to overhaul out-of-date auditing standards and increase its inspections and penalties during a conference.

audit 121

audit Account accountant accounted 121

CPA Practice

NOVEMBER 28, 2023

Despite 70% of higher education leaders expressing the belief that their industry’s economic model, programming, and other operations require fundamental change, about 80% of these same leaders are confident in their own institution’s financial stability over the next decade. This and other findings are part of FORVIS’ 2024 Annual Higher Education Outlook.

Education 109

Education public accounting accounting firms Tax 109

CPA Practice

NOVEMBER 28, 2023

It’s not quite a “ mega merger ,” but a top 100 CPA firm and a top 200 CPA firm will be merging on Jan. 1, 2024. Dean Dorton, based in Lexington, KY, and VonLehman CPA & Advisory Firm, based in Fort Wright, KY, announced their marriage on Tuesday. The firm will operate as Dean Dorton and provide accounting, business advisory, and professional services to clients from offices in North Carolina, Indiana, Ohio, and Kentucky.

North Carolina 105

North Carolina Kentucky Indiana Ohio 105

Withum

NOVEMBER 28, 2023

The annual Withum Week of Caring (WWoC) took place last week, and team members made the biggest impact in their communities yet. From assisting with food banks, park clean-ups, toy drives, senior centers, 5ks runs, and more, Withum team members utilized the annual give-back days to better the communities in which they live and work. WWoC’s Impact Withum team members with litter from Union Beach, NJ, Conaskonk Point Beach Clean-Up. 13 Years 21 Regions 83 Organizations 4,000 Hours Withum team memb

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104

CPA Practice

NOVEMBER 28, 2023

By Irina Anghel, Bloomberg News (TNS) KPMG has frozen pay for thousands of its U.K. staff and cut bonuses despite stubbornly high inflation. A spokesperson for the audit firm said that due to soft market demand, raises would be prioritized for staff who have been promoted. Workers eligible for a bonus will receive one that’s lower than in previous years.

audit 105

audit Account accountant accounted 105

Accounting Today

NOVEMBER 28, 2023

The National Association of State Boards of Accountancy has commenced its search for a new president and CEO to succeed longtime leader Ken Bishop.

Account 115

Account accountant accounted 115

Advertiser: Paycor

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CPA Practice

NOVEMBER 28, 2023

By Ari Altstedter and Esteban Duarte, Bloomberg News (TNS) Big Four firm PricewaterhouseCoopers has cut its workforce in Canada by 2% as sustained high interest rates push that nation’s economy toward a recession. A spokeswoman for PwC confirmed the reduction, reported earlier by the Globe and Mail newspaper, without giving further details of the layoffs.

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102

Insightful Accountant

NOVEMBER 28, 2023

A variety of QuickBooks payroll and human resource enhancements are improving and streamlining they way you can manage payroll whether you provide payroll services, you support clients using payroll, or you manage payroll in-house.

quickbooks 101

quickbooks payroll 101

CPA Practice

NOVEMBER 28, 2023

As part of its 13th annual Week of Caring in November, the staff and partners of Withum across 21 regions in the U.S. volunteered a combined 4,000 hours toward charities and public service, including assisting with food banks, park clean-ups, toy drives, senior centers, 5K runs and other activities. The contributions benefited more than 80 organizations.

Account 101

Account accountant accounted 101

Accounting Today

NOVEMBER 28, 2023

Sanctions list; getting out of the Market; why oh Y; and other highlights of recent tax cases.

Gaming 111

Gaming Tax 111

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.

CPA Practice

NOVEMBER 28, 2023

Houston-based accounting and advisory firm abip CPAs & Advisors and San Antonio-based accounting firm Brehm, Havel & Co. will merge effective Jan. 1, 2024. A regional firm with a national reach, abip has more than 100 professionals in offices based in Houston, San Antonio, New Braunfels, and the Woodlands. Brehm, Havel & Co. has been supporting clients in the San Antonio and greater Texas market since 1980.

Texas 97

Texas cpa firm CPA cpas 97

Accounting Today

NOVEMBER 28, 2023

Intuit TurboTax, in anticipation of the upcoming filing season, unveiled new support options that encompass both human professionals and artificial intelligence.

Technology 87

Technology Tax 87

Insightful Accountant

NOVEMBER 28, 2023

AvidXchange has released a report revealing the top five initiatives that finance professionals are considering for 2024.

Finance 93

Finance 93

CPA Practice

NOVEMBER 28, 2023

By Izzy Kharasch. Since starting my consulting business, Hospitality Works, in 1987, I’ve helped turn fortunes around for many restaurants all across the nation. And I have come to realize something: Most of what I’ve learned about the restaurant business can be applied to almost any business in almost any industry. As a financial professional, you probably have among your clients business owners, would-be business owners and investors in various enterprises (even including restaurants).

Hospitality 66

Hospitality Start-ups business accounting Account 66

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

Cherry Bekaert

NOVEMBER 28, 2023

There are several key tax considerations and tactical approaches for businesses to address while closing out 2023 and moving into 2024. From leveraging tax incentives to optimizing deductions, this guide offers insights into tax planning to help businesses make informed decisions and set a solid foundation for the upcoming year. Section 174 Research and Experimentation Cost Capitalization The tax landscape for specified research and experimentation (SRE) activities is evolving with Section 174 c

tax planning 64

tax planning Tax income tax tax return 64

CPA Practice

NOVEMBER 28, 2023

A new survey of marketplace sellers, gig workers, and decision makers at online marketplaces shows that previously proposed changes to IRS form 1099-K reporting requirements would be a threat to their business interests. The changes, which are presently on hold by the IRS, could include a drop in the reporting threshold from $20,000 to $600. This change would have impacted significantly more marketplace sellers and gig workers.

bookkeeping 59

bookkeeping Tax accounting firms tax accountant 59

Menzies

NOVEMBER 28, 2023

Menzies LLP - A leading chartered accountancy firm. Did you know businesses operating in the financial or insurance sector can, under some circumstances, recover some of the input VAT they incur on costs if they make overseas supplies? Businesses within the financial and insurance services sector are likely to be subject to the VAT exemption rules when making certain supplies for UK clients.

chartered accountant 59

chartered accountant accounting and finance Finance accounting firms 59

Going Concern

NOVEMBER 28, 2023

AICPA CEO of Public Accounting and Going Concern favorite Sue Coffey swung by the Accounting Today podcast recently to talk about what else, the pipeline problem. The interesting bit pops up right away in the episode. Here she is talking about how the AICPA is digging through the data to identify reasons for the accountant shortage beyond the ones we already know like declining birth rates ( down 22.9 percent since 2007 ) and fewer people going to university in general.

public accounting 57

public accounting accounting jobs accountant jobs accounts jobs 57

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.

Withum

NOVEMBER 28, 2023

With the year coming to an end, it’s essential to kickstart your 2023 tax preparations and start thinking about tax-saving techniques, potential opportunities, and the recent legal modifications that might impact your tax obligations. This on-demand webinar session Withum’s tax experts cover an in-depth review of the most important tax planning strategies you can take now to ensure it’s the happiest season of all!

tax preparation 52

tax preparation income tax New York tax planning 52

Patriot Software

NOVEMBER 28, 2023

A new rule, known as company beneficial ownership information reporting, takes effect on January 1, 2024, and small business owners are not exempt. Depending on your business structure, you must report beneficial ownership information (BOI)—aka who owns and controls your company—to the U.S. government.

Government 52

Government Account accountant accounted 52

Withum

NOVEMBER 28, 2023

Now that working from home has become more common, are you considering a move to another state? Perhaps to a low-tax or no-tax state? If so, you are not alone, and here are some of the things you should be considering for income tax purposes. Insurance Review: Year-end is a great time to review all your insurance. Changed circumstances and policy modifications can greatly impact your cost and coverage.

income tax 52

income tax tax planning Tax payroll 52

CPA Practice

NOVEMBER 28, 2023

Cetera Holdings , the holding company of Cetera Financial Group, has completed the acquisition of Avantax, which will operate as a unique community within the Cetera family, with 3,111 financial professionals, representing $82.3 billion in assets under administration and $42.0 billion in assets under management. Cetera retained Avantax’s legal entities, brand, core technology, product offerings and existing clearing and custody relationships.

Legal 52

Legal Tax Technology Account 52

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Finance

Cherry Bekaert

NOVEMBER 28, 2023

Cherry Bekaert is committed to delivering exceptional service to our clients. Recently, we developed a new solution using the power of Sage Intacct to better manage Microsoft Excel data for our clients. In this episode of Digital Journeys, Randy Kardas , a Senior Manager of our Sage Intacct practice who developed this Sage Intacct Excel Add-In application, dives into the benefits of this new tool and its future potential.

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general ledger financial statements 52

Inform Accounting

NOVEMBER 28, 2023

If you make a chargeable gain on the sale of a UK residential property, you will need to report the gain to HMRC within 60 days of the completion date and pay tax on the gain within the same time frame. A chargeable gain may arise if the property that you sell has not been your only or main residence throughout the period that you owned it, or if it is a let property, for example a buy-to-let or a holiday let, or a second home.

Maine 52

Maine Tax Sales 52

Accounting Today

NOVEMBER 28, 2023

Employee stock ownership plans allow accounting firms 'to be in control of their own destiny.

accounting firms 68

accounting firms Account accountant accounted 68

FraudFiles

NOVEMBER 28, 2023

In this video, Tracy Coenen explains the purpose and process behind doing a lifestyle analysis in a divorce case.

Maine 52

Maine 52

Advertisement

"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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