Wed.Oct 18, 2023

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Ensuring Success 2023 Sessions Announced: Earn 14 Hours of CPE in Two Days

CPA Practice

The sessions and CPE fields of study for Ensuring Success 2023 have been announced. Ensuring Success will be held December 6-7, 2023. Earn up to 14 hours of free CPE during this 2-day annual, virtual conference. Register now and mark your calendar for Ensuring Success, to ensure you meet your year-end CPE requirements. This is the original, completely virtual online CPE conference for accounting and tax pros, so you can attend and earn free CPE credits from the comfort of your office.

Education 119
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IRS questions security of planned ID verification system

Accounting Today

The service has faced challenges in transitioning the system it uses for authenticating the identities of taxpayers and tax professionals.

Tax 130
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Who Had ‘Do More Fraud’ on Their Things That Could Save the Accounting Profession Bingo Card?

Going Concern

When a tipster sent this over yesterday it seemed obvious prior to clicking the link they were joking when they suggested that “people exposed to fraud have a modest increase in joining the accounting profession.” Surely that had to be a joke about professors always spouting how great it is to work at Big 4. But no, that’s actually what the research in “ Externalities of Financial Statement Fraud on the Incoming Accounting Labor Force ,” published in the Journal of

Account 113
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Retail Sales Grew in September, But Core Year-Over-Year Gains Are Slowing

CPA Practice

Retail sales continued to grow in September even as consumers faced continuing economic pressures, according to the National Retail Federation. “September retail sales show that consumers have retained the ability and willingness to spend despite accumulating economic headwinds from higher interest rates and slowing growth,” NRF President and CEO Matthew Shay said.

Sales 111
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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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Withum Wealth Management Named to Forbes’s Top RIA Firms List

Withum

Withum is proud to share that Withum Wealth Management (WWM) was honored by Forbes on its annual SHOOK Top RIA Firms List. Compiled by SHOOK Research, the world’s only advisor research firm in the world with a specialty in quality, the list is an annual ranking of registered investment advisory firms that provide reliable, trusted service for clients and have a talent for preserving wealth in the long term.

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5 Common Ways That Legacy Technology Puts Your Firm at Risk

CPA Practice

By Shane Westra. While every industry has outliers when it comes to technology adoption, i.e. adoption that is either faster or slower than the median for a particular group, historically, the accounting profession has trended toward inertia when it comes to making technology changes. It’s easy to understand why many accounting firms have not been focused on evolving the technology they use, especially when faced with the ongoing compliance, client, and workload demands.

More Trending

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Bloomberg Tax AI Lab Enables AI Functions for Bloomberg Tax Research

CPA Practice

Bloomberg Tax & Accounting has launched its new AI Lab to enhance the Bloomberg Tax Research experience. The new Bloomberg Tax AI Lab offers customers the option of testing new AI-driven tools, beginning with an enhanced search experience using AI functionality. The first enhancement included in Bloomberg Tax AI Lab is a question and answer service, combining Bloomberg Tax Research with a large language model (LLM) to produce an AI-generated summary response.

Tax 106
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ACCA warns of ethical dilemmas in sustainability

Accounting Today

The association is cautioning accountants about the risk of greenwashing when reporting on a company's environmental efforts.

Account 114
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It’s Time for Your Clients to Tackle Meeting Minutes

CPA Practice

By Nellie Akalp. Accountants are crucial for guiding clients through the various financial and administrative aspects of running a business. Tasks like meeting minutes might not be the most exciting part of running a business, but they are crucial for ensuring transparency, accountability, and legal compliance. As the year-end approaches, your business clients must ensure they have taken proper meeting minutes.

Legal 105
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PwC partners with ChatGPT creator OpenAI

Accounting Today

The accounting firm will use artificial intelligence to consult on complex matters in tax, legal and human resources.

Legal 117
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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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Special Report: Technology Innovation Awards 2023

CPA Practice

In just a year, the promise of artificial intelligence has grown from a topic of science fiction movies into practical business applications. From the advent of first-to-market generative AI systems like ChatGPT, to highly specialized, accounting-focused systems, proponents of AI are fervent in their belief that the technologies will dramatically improve client services, firm management, small business accounting, and many other areas of operations.

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Why Use a Value Added Reseller (VAR)? Benefits for Organizations

Cherry Bekaert

“A value-added reseller (VAR) is a business that specializes in offering supplier software and technologies which may be coupled with integrations and services to enhance a product offering to its customers.” Why Consider a Value-Added Reseller (VAR) The concept of using a VAR to purchase software and hardware can sometimes be confusing for organizations.

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5 Crucial Components Your ERP System Should Include

AccountingDepartment

Enterprise resource planning (ERP) systems are instrumental in helping businesses achieve optimal efficiency. By integrating various essential business functions into a unified platform, ERP systems provide a real-time overview of the business while supporting day-to-day operations and workflows.

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Top-earning men see wage growth longer than others

Accounting Today

The researcher sourced data from IRS tax forms to track wages for men between the ages of 25 to 55.

Tax 119
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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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Oracle NetSuite Introduces Enterprise Performance Management

Insightful Accountant

NetSuite's newly unveiled Enterprise Performance Management will help finance leaders increase productivity, efficiency and profitability.

NetSuite 101
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Generative AI use growing for both business and consumers

Accounting Today

The rising popularity and use of generative AI since it recently exploded on the scene has not abated. Indeed, recent polls show it is rising.

Finance 89
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Reduce Financial and Digital Clutter

Withum

We are sometimes overwhelmed with clutter. Sometimes paper and, more lately, digital. The difference is that you can see the piles of paper while the digital clutter lurks in your computer. No matter what we do, it seems to grow and grow and grow. This can not only cost time and money but can set traps for you that could become quite costly, rob you of funds and cause countless added time to straighten out.

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3 common cybersecurity mistakes accountants make

Accounting Today

Firms don't always make the best decisions when it comes to locking down the data that resides in their applications.

Account 97
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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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Upcoming Tax Issues Facing Dealerships That Need To Be Addressed Now

Withum

“Those who fail to plan, plan to fail.” These words apply to all sorts of things in life and, of course, when it comes to taxes. With some economic upheaval and various provisions of the Tax Cuts and Jobs Act (“TCJA”) nearing their end, here are a few things to be mindful of as we cruise into the 4th quarter of 2023. Interest Limitations Under Section 163(j) With record profits, reduced inventory, and favorable add-backs (depreciation and amortization until 12/31/2021), most dealerships have not

Tax 59
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The 10 Trickiest States for Sales Tax Filing

CPA Practice

By Gail Cole. Sometimes the most difficult tasks in life are the most rewarding, and sometimes they’re simply the most difficult. With sales tax compliance, it’s the latter. The fact is, not all states are equal when it comes to sales tax filing and remittance. For a variety of reasons, sales tax compliance in certain states takes more time and causes more headaches than sales tax compliance in others.

Sales 59
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A RECAP of the New Eligibility for Student Loan Forgiveness for Physicians Working in Non-Profit Hospitals

LSLCPAs

To save you time, we have recapped below some key provisions of the latest Public Service Loan Forgiveness program dated 9/18/23. We encourage you to read the online information sheet from the California Medical Association for details. We also urge you to continue to check the most up-to-date version at cmadocs.org/pslf, as the CMA will add material as.

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5 States with the Lowest Combined Business Taxes

CPA Practice

By Dawn Moser. Are you an entrepreneur looking to establish a new business? One crucial factor to consider when selecting your business location is the tax environment. Business taxes can significantly impact your bottom line and overall profitability. Therefore, it’s important to explore states with the lowest taxes for businesses in order to make an informed decision that aligns your total tax burden with your financial goals and objectives.

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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.

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9 Strategies to Differentiate Your Accounting Firm

Ryan Lazanis

Discover how an online community can be a factor in securing more deals, improving client experience, and a differentiator for your firm. The post 9 Strategies to Differentiate Your Accounting Firm appeared first on Future Firm.

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AICPA Honors Financial Reporting Leader with Gold Medal

CPA Practice

The American Institute of CPAs has awarded Robert H. Herz, CPA, CGMA, FCA, with its 2023 AICPA Gold Medal Award of Distinction. The award, presented since 1944, is the highest honor bestowed by the AICPA, recognizing CPAs “whose influence on the accounting profession has been especially notable.” The award was presented by Tracey Golden, Past Chair, AICPA and the Association of International Certified Professional Accountants, at the fall meeting of the AICPA governing council.

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Boost Your Startup with the Revamped R&D Tax Credit: What You Need to Know

Shay CPA

The landscape for small businesses and startups is constantly evolving, especially when it comes to taxes. One area ripe for taking advantage of is the Research and Development (R&D) Tax Credit. Recent changes in tax laws have made this opportunity even more enticing. Let’s dive in and examine what the Inflation Reduction Act of 2022 has in store for you.

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On-Demand Service Marketplace Compliance Can Be Challenging

CPA Practice

By Dawn Moser. Ah! On-demand service marketplaces: great for midnight ice-cream cravings or last-minute school project supplies; complicated for tax compliance. And with marketplace facilitator laws in effect, more and more on-demand service providers are responsible for managing taxes for the transactions on their platforms. Depending on how varied your offerings are and how many markets you operate in, complying with tax regulations can get timeconsuming and expensive.

Tax 52
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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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Avoid These Mistakes and Make Legal a Profit Center

Summit CPA

A conversation with Legal & Creative founder Sharon Toerek. A lot of digital agencies treat lawyers like firefighters that they only call when the building is in flames. It’s a reactive approach, and there are lots of reasons agencies take it, says Sharon Toerek, intellectual property lawyer and founder of Legal and Creative. Whether it’s because they think it will save them money to keep attorneys at arms’ length or because they only work with larger clients who provide their own service ag

Legal 52
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2024 Projected Public Accounting Starting Salaries in 15 of the Largest U.S. Cities

CPA Practice

Are you going to be starting a new job at a public accounting firm in Chicago, Philadelphia, Dallas, Phoenix, or Portland, OR? How about in Nashville, Houston, Las Vegas, Charlotte, or San Jose, CA? Starting salaries in public accounting next year are projected to range between 5% lower and 33% higher than the national averages in these 10 cities as well as five others that are among the largest in the U.S. by population.

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How intelligent automation is driving a digital accounting revolution

Accounting Today

As your IA practice advances, the scope of automation expands considerably.

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5 Ways Outsourced Accounting Can Help Property Developers and Managers

Insightful Accountant

The Bonadio Group's Cheryl Prout discusses why property developers and managers can benefit from outsourced accounting.

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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.