Wed.Apr 03, 2024

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Accounting class-actions rose last year

Accounting Today

Accounting-related class-action lawsuit filings and settlements both increased in 2023, according to a new report, even though the cases took longer to be filed.

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Intuit Debuts Line of Credit for QuickBooks

CPA Practice

Intuit recently launched QuickBooks Line of Credit , giving small businesses a new way to access funding quickly—from $1,000 to $50,000—with loans issued by WebBank. With this new feature, small businesses can tap into funding when and how they need it, depending on their specific cash flow requirements, Intuit said in a news release. The line of credit is designed to provide small business owners with the ability to draw from their available credit limit to support business growth, pay expense

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Only half of filers trust AI with taxes

Accounting Today

Companies using artificial intelligence have a long way to go before people will fully trust them to help with their taxes, according to a recent poll.

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Deloitte Changes Its Mind on Downsizing Office Space in the UK

Going Concern

Remember a couple years back when people started talking about return-to-office and a year or so after that when Big 4 accountants everywhere asked how their firms could require them back in the office given so many of them had downsized office space during the pandemic? About that… FT : Deloitte has taken on extra office space in central London less than two years after making cutbacks, in an about-turn that indicates staff in professional services are returning to the workplace more regu

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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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Are You Still Looking for 2023 Income Tax Deductibles?

Withum

Qualified plans remain one of the last, legitimate mechanisms for closely-held business owners to generate deductions. Even then, some closely-held business owners would like to generate more than a 401k or traditional pension plan may allow. What Are the Potential Benefits? Guaranteed retirement income All earnings tax deferred during accumulation Deductions in excess of $300,000 depending on demographics A valuable employee benefit Typically exempt from creditors Can still be deducted in the 2

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There Are a Few Familiar Topics on the 2024 IRS Dirty Dozen List

Going Concern

With the 2024 filing season winding to a close, the IRS is rolling out its annual ‘Dirty Dozen’ list of the “worst of the worst” scams taxpayers, business owners, and tax practitioners should be aware of. The latter group is, of course, not paying attention right now but will no doubt find this information useful when they can finally pop their heads up to get some air (thoughts and prayers to you all).

More Trending

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Make the most out of your Xerocon London trip

Xero

It’s with great excitement and anticipation that we announce the winner of Xero Australia’s Xerocon London partner competition. One lucky partner and a guest of their choosing will be treated to flights and accommodation to London and tickets to attend this year’s Xerocon London on 12 – 13 June. So, the moment of truth. The winner is… A. Kirk (postcode 2340)!

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Simplifying the Monthly Close Process with These Simple Strategies

AccountingDepartment

The month-end is coming up and that means it is time to close. A monthly close can be a laborious process that is dreaded by some accounting and finance departments, but it doesn't have to be that hard!

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Keeping Your Tax Practice Compliant

Insightful Accountant

Tax practice owners must prioritize compliance for their own firm, not just for clients. Neglecting internal compliance can lead to costly mistakes and damage the firm's financial health and reputation.

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Botkeeper Rolls Out Its New Infinite Platform to Firms

CPA Practice

Accounting software company Botkeeper has released its Botkeeper Infinite solution, which helps to streamline automated bookkeeping and back-office accounting for firms of all sizes without the need for outsourcing. Botkeeper heralds Infinite as a “complete solution” for firms’ bookkeeping needs. It brings together the technology, people, and processes needed to maximize capacity and streamline practices for ultimate efficiency.

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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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Refresh Your Finances: Spring Clean Your Bookkeeping to Prep for Your Next Fundraiser

Shay CPA

‘Tis the season. As the days get longer and the weather gets warmer, it’s time to undertake the annual chore of spring cleaning. This doesn’t just apply to your abode. Employing a spring-cleaning mentality at your startup — especially when it comes to your books — can do a lot to help you thrive in the rest of 2024 and beyond. Giving your bookkeeping a spring clean could be the key that unlocks success in your next rounds of fundraising.

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Small Businesses Showed Slight Job Growth in March, According to Paychex

CPA Practice

Hiring by small businesses increased slightly in March, while hourly earnings growth for workers at companies with fewer than 50 employees continued a steady deceleration that began in mid-2022, according to Paychex’s latest jobs and wage report. According to the Paychex Small Business Employment Watch, the Small Business Jobs Index grew 0.18 percentage points in March to 100.85—the first increase year-to-date—but remained below pre-pandemic levels for the first three months of 2024.

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Small biz boosts jobs, pay in March

Accounting Today

It was the first hiring increase so far this year, according to Paychex, though it remained below pre-pandemic levels.

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Vena Releases Gen AI Assistant for FP&A Teams

CPA Practice

Business planning software provider Vena is bringing generative artificial intelligence capabilities to financial planning and analysis (FP&A) teams with its latest offering, Vena Copilot. Vena Copilot for FP&A combines Vena’s FP&A expertise with Microsoft Azure OpenAI Service large language models, including GPT-4, to help FP&A teams and their collaborators increase productivity, operational efficiency, and business agility so they can focus on driving strategic impact, the Alba

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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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Elevating Your Accounting Firm: Expert Insights with Upstream Academy's Jeremy Clopton

Insightful Accountant

In this episode of Accounting Insiders, Gary DeHart and Jeremy Clopton from Upstream Academy discuss consulting for accounting firms, emphasizing leadership and vision strategy.

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Withum Celebrates 50th Anniversary

Withum

Over the past 50 years, Withum has grown from a small, six-person New Jersey office to a top national firm with over 2500 team members across the United States and overseas. Withum teams have seen the rise and fall of disco, beepers, scrunchies, Y2K, Blackberry phones, moving to the cloud, the AI-craze and everything in between. The year-long celebration of this milestone kicked off this January at Withum’s annual State of the Firm event at NJPAC in Newark, NJ.

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Divorce Lifestyle Analysis Data Entry

FraudFiles

A question often comes up relative to the lifestyle analysis in divorce cases: Isn't is just data entry that anyone could do? Why do I need a forensic accounting expert? As I explain below, the lifestyle analysis is NOT just a data entry exercise. A level of quality control is necessary in order to ensure [.

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Top Considerations When Navigating Debt Forgiveness

Cherry Bekaert

Contributor: Lee Dodson , Tax Senior Manager Today’s business environment is difficult to navigate when considering the higher interest rates, whose effects trickle throughout the economy. Due to changing interest rates and lower occupancy rates, real estate owners may struggle to meet their debt service coverage needs. In this article, we will seek to understand the tax implications of debt forgiveness through a debt restructure or foreclosure and suggest some potential solutions to avoid incur

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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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The Power of AI for Accountants

Accounting Insight

Artificial Intelligence (AI) has certainly made its mark across a number of industries and the accountancy & finance sector is no stranger to the rapid advancements taking place. If used responsibly, AI serves as a powerful tool to aid Accountants, streamline their workload, improve accuracy and help them work smarter. Accountancy and finance recruitment specialists, Spencer Clarke Group , have witnessed firsthand how Artificial Intelligence is helping accountancy professionals refine their

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From Outbound to Inbound: A Tech Company’s Guide to Expanding Globally (Part One)

Cherry Bekaert

Many technology companies reap the benefits of hiring consultants or long-term employees outside the U.S., such as experiencing greater efficiency and expanding their global reach. However, if company leadership isn’t careful in planning, structuring and reporting, serious tax issues could arise. In our latest podcast for technology companies, we cover key missteps to avoid when it comes to hiring, contracting or using third parties abroad.

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Navigating Expense Reimbursement Challenges: A Tech-Savvy Approach

Dent Moses

Expense reimbursement remains a significant challenge for many businesses in the accounting landscape. Manual processes often lead to errors, delays, and employee dissatisfaction. To address these issues, businesses are increasingly turning to software solutions that streamline the reimbursement process and enhance accuracy and efficiency. Expense reimbursement problems are commonly rooted in paper-based systems, which result in lost receipts, data entry errors, and delayed approvals.

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If You Want to 'Work Less, Earn More,' Ask Yourself These Questions

Summit CPA

Agency owners often get to a point where they become stuck. Maybe they've been growing for a while and they've hit a plateau. Maybe they're still growing, but their day-to-day is out of control. Or as one of my clients said: “It's hard to think about what you'll cook for dinner when you've got a knife stuck in your leg.

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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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The CannaBiz Success Show: Cannabis Business Models for Success with Seth Yakatan

Anders CPA

In this episode, Guillermo is joined by Seth Yakatan of Katan Associates for a freewheeling conversation. They discuss Seth’s insights into the world of cannabis financing, different kinds of capital available to cannabis businesses, and the six distinct business models that have the potential to generate revenue in today’s market. Seth discusses what he considers the top players in the cannabis industry, analyzes the Trulieve tax refund bombshell, and offers predictions for the year

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AI in the Accounting Industry: Capabilities and Limitations

Canopy Accounting

Integrating Artificial Intelligence (AI) into the accounting sector has been a game-changer, offering unprecedented efficiency improvements and accuracy levels. However, while AI has significantly advanced, it’s essential to recognize its capabilities and limitations within this industry.

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5 Naive Mistakes I Made As A Firm Owner

Ryan Lazanis

When I was running Xen Accounting, I also had my fair share of mistakes. Check out these mistakes and what should I have done instead. The post 5 Naive Mistakes I Made As A Firm Owner appeared first on Future Firm.

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U.S. Companies Added 184,000 Jobs in March, ADP Says

CPA Practice

By Jarrell Dillard, Bloomberg News (TNS) U.S. companies boosted hiring last month by the most since July in a broad advance and some wage gains accelerated, pointing to solid demand for workers. Private payrolls increased 184,000 in March after an upwardly revised 155,000 gain a month earlier, according to figures published Wednesday by the ADP Research Institute in collaboration with Stanford Digital Economy Lab.

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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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Grow your niche through podcasting

Accounting Today

Starting a podcast is an investment, but it also has a very high potential upside for accountants.

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Sikich and Symphony Talent Partner to Expand SaaS Talent Acquisition Platform for Clients

CPA Practice

Top 30 accounting firm Sikich has entered into a partnership with Symphony Talent to assist with implementation and support services for the company’s software-as-a-service (SaaS) product, SFX. Symphony Talent is a full-funnel talent acquisition platform and brand services provider that helps talent acquisition teams automate tasks and empower innovative candidate interactions.

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M&A roundup: Crowe and PKF Smith Cooper expand

Accounting Today

Crowe plans to add Belt Harris Pechacek; and PKF Smith Cooper acquired BLB Advisory.

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Crowe Set to Acquire Texas Firm Belt Harris Pechacek

CPA Practice

Top 15 accounting firm Crowe has entered into an agreement to acquire Belt Harris Pechacek (BHP), a Texas-based firm that provides audit and support services to local Texas governments. The transaction, which is expected to close in the next 30 days, will further enhance and expand Chicago-based Crowe’s public-sector and Texas footprint. BHP has offices in Houston, Bellville, and Austin.

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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.