Thu.Feb 01, 2024

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How to Price Your Accounting Services | Canopy

Canopy Accounting

The way you price your accounting services shouldn’t be arbitrary. The correct accounting pricing strategy can effectively mean the difference between scraping by and robust growth.

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The over-and-over process of sales tax compliance | TaxConnex

TaxConnex

Well, it’s Groundhog Day. again. – Phil Connors, Groundhog Day In 1993, a Bill Murray movie quietly appeared about a Pennsylvania TV weatherman who relives the same day (February 2) over and over in the town of Punxsutawney. He’s been sent there, much against his wishes, to cover Phil the famous groundhog whose shadow, year after year, forecasts the end of winter.

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Acterys xP&A Suite Enters the Gartner Magic Quadrant for Financial Planning Software

Acterys

Innovative Features and Seamless Integrations Help Acterys Secure Its First Magic Quadrant Appearance (Chicago, Il., January 26, 2024) – Acterys, a leading provider of financial planning software, is proud to announce its inclusion in the Gartner Magic Quadrant for Financial Planning Software. This recognition highlights Acterys’ commitment to delivering innovative solutions that streamline and automate financial planning processes for organizations worldwide.

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House Passes Tax Relief Act With a Decisive Bipartisan Vote

Withum

The House of Representatives passed Rep. Jason Smith’s sponsored bill H.R. 7024, Tax Relief for American Families and Workers Act of 2024 , by a wide bipartisan vote of 357 to 70 yesterday evening. While the decisive vote helps to focus the Senate discussion, the ability and timing for the Senate to vote on the bill remains unclear. The bill includes tax legislation to help small and private businesses, including the ability to immediately expense domestic research and experimental expenditures

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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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Melancon looks to build accounting pipeline amid tax changes

Accounting Today

American Institute of CPAs president and CEO Barry Melancon discussed the new tax extenders bill that's working its way through Congress, along with a variety of issues affecting the accounting profession, during a wide-ranging talk Thursday at the Accountants Club of America in New York.

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Kevin Baldus Joins Anders as Chief Information Officer

Anders CPA

Anders welcomes Kevin Baldus as the firm’s new Chief Information Officer. Kevin’s addition to the leadership team supports the firm’s strategic focus on leveraging technology to enhance client service, streamline internal processes and drive innovation. As CIO, Kevin will help the firm improve internal processes, mitigate cybersecurity risk, increase efficiencies and help transform the way business is done through technology in line with the firm’s strategic plan.

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Tax Court Says Group Overshot on the Augusta Rule

CPA Practice

Under the so-called “Augusta rule,” homeowners can avoid any tax consequences for certain short-term rentals. However, in a new case, Sinopoli, TC Memo 2023-105, 8/14/23, the shareholders of an S corporation got greedy when they claimed six-figure deductions for rent paid to hold business meetings at their homes. Let’s start with this basic tax premise.

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Five cash flow trends impacting small businesses

Xero

Over the last 12 months, we’ve surveyed over 4,500 small business owners across the globe to find out how they’re managing cash flow amidst macroeconomic conditions such as high inflation and interest rates. The survey findings became a series of Money Matters reports that were released in Australia , Canada , New Zealand , Singapore , the United Kingdom and the United States.

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2024 Tax Refund Date Estimator

CPA Practice

The IRS started accepting and processing income tax returns on January 29, 2024. The deadline to file returns in 2024 is April 15 (this sometimes varies based on weekends or state holidays). This article includes a handy reference chart taxpayers can use to estimate how soon they may get their income tax refund. “ When will I get my tax refund? ” is one of the most common questions for many taxpayers.

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KPMG UK Partners Brought Home More Money This Year

Going Concern

12,000 people at KPMG UK may have had their pay frozen and bonuses cut late last year but partners are doing OK according to this recent report from FT. First of all, LOL: The story : Payouts for UK partners at KPMG climbed 4 per cent to an average of £746,000 (approx. $949k USD) last year despite a surge in fines for audit failures and a slowdown in growth at the Big Four firm.

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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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A 2024 Overview of IRS Form 1041 Schedules

Canopy Accounting

For estate planning and taxation, IRS Form 1041, U.S. Income Tax Return for Estates and Trusts , documents the income an estate earns after the estate owner passes away. It’s also used to track income before any beneficiaries receive designated assets. In other words, Form 1041 is used to report the income, deductions, gains, and losses of an estate or trust.

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Attn Illinois University Students: Check Out These Scholarships

Going Concern

Want some help with school? You’re in the right place. Everyone here is a walking billboard for why you should stay in school really, let that be some motivation. Fresh press release for you straight from the source: Aiming to aid accounting students and increase the pipeline of future certified public accountants (CPAs), the Illinois CPA Society and its charitable partner, the CPA Endowment Fund of Illinois, are now accepting scholarship applications.

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Meet 2023 International ProAdvisor - Non-Americas Award Winner : Emma Fabbro

Insightful Accountant

We sat down with Emma to get her thoughts on being the 2023 International ProAdvisor: Non-Americas Award Winner, her journey, her path to success and helping her clients understand the numbers behind their business.

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20 Years of 1099s at AccountingDepartment.com

AccountingDepartment

It is that time of the year again, tax season. Many businesses dread this time of the year - it's tough. But thankfully, it's not as tough when you have the unrivaled support of AccountingDepartment.com.

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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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Meet 2023 International ProAdvisor - Non-Americas Award Winner : Emma Fabro

Insightful Accountant

We sat down with Jennie to get her thoughts on being the 2023 International ProAdvisor: Non-Americas Award Winner, her journey, her path to success and helping her clients understand the numbers behind their business.

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IRS Business Accounts & Your Skagit County Business

SkagitCountyTaxServices

The crescendo of the entire football season is coming up in two weeks, aka the Super Bowl (Sunday, February 11). It’s probably one of the most watched events in America. This year will be no exception… and not just because Taylor Swift will be there cheering on her man. It’ll be a 2020-rematch, and the Chiefs will be on the hunt to win back-to-back Super Bowls (something only 8 teams in NFL history have accomplished).

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Tax Fraud Blotter: We have a winner

Accounting Today

Mule the merrier; cashing out; going for the gold; and other highlights of recent tax cases.

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Intuit Announces Black History Month Survey Results

Insightful Accountant

Intuit QuickBooks has released the results from its Black History Month survey revealing the top challenge facing Black small business owners is 'inflation.

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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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Trends that will shift the accounting landscape in 2024

Accounting Today

From digitalization and consultancy to Bitcoin and cryptocurrency, 2024 is set to be a year of growth and possibility.

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5 Ways Firms Can Support Entrepreneurs in 2024

CPA Practice

CPAs and accountants are uniquely positioned to help their clients out with a variety of advisory services. That hasn’t changed. However, exactly “what” types of advisory a firm should offer has always been a question. The findings from the new Entrepreneurship in 2024 Report , conducted by Intuit QuickBooks in December 2023, solves for that, providing you a roadmap to help your clients.

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A Comprehensive Guide to Building an Optimal Accounting System

Basis 365

In the complex world of business, a robust accounting system supports the foundation of financial clarity and control. It's not just about crunching numbers – it's about crafting a strategic architecture that empowers informed decisions, optimizes operations, and navigates the complexities of compliance. Whether you're a small startup or a seasoned enterprise, building an optimal accounting system requires careful planning, strategic technology integration, and unwavering commitment to financial

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Serving Seniors Can Help Firm Real Estate Clients

CPA Practice

By Nikki Buckelew, Ph.D. A Chicago-area real estate agent, Betsy Phillips, has built up her practice by focusing on the needs of transitioning seniors, www.seniorrealestateexperts.com. She recounts an experience with a client who was not ready to move – but had no choice. “He was not a happy camper,” she recalls. “In fact, he was something of a grouch.

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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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Insolvencies reach 30-year high in 2023

Menzies

Menzies LLP - A leading chartered accountancy firm. Figures released this week by The Insolvency Service have indicated that 2023 had the highest annual number of corporate insolvencies since 1993. Although creditors’ voluntary liquidations were still the most frequently used process, all processes monitored by the Insolvency Service experienced an increase during the year. 2023 Insolvency Statistics in a nutshell The number of overall insolvencies recorded reached a 30-year high.

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AICPA and CIMA Receive Technology Award

CPA Practice

AICPA & CIMA has received the Brandon Hall Group Gold award for Excellence in Technology. The award was in the Best Advance of Learning Management for External Training category. The 2023 Brandon Hall Group Excellence in Awards are presented annually for work in the categories of Learning and Development, Talent Management, Talent Acquisition, Human Resources, Sales Enablement, Future of Work, and Education Technology.

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Case Study: Healthcare Provider Optimizes Critical Process Automation Workflows by Transitioning to Microsoft Power Automate

Withum

Learn how a regional healthcare provider overhauled their existing process automation system to Microsoft’s Power Automate to streamline and modernize critical workflow management. Download a PDF of this case study. Executive Summary Trusted community healthcare provider with desire to modernize their backend workflow/process automation management system.

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DataSnipper and Validis Partner for Audit Tech

CPA Practice

The automation platform DataSnipper has partnered with on-demand accounting data provider Validis to provide auditors with a seamless end-to-end audit testing process. DataSnipper also recently announced a Series B funding round valued at $1 billion. DataSnipper, when integrated with Validis, delivers one audit test workflow to drive significant audit quality and efficiency.

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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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Understanding GAAP rules

ThomsonReuters

Jump to: What are the GAAP accounting rules? What are the main principles of the GAAP framework? What are the key differences between GAAP and IFRS? What are the GAAP rules for capitalization of costs? What are the main consolidation models under GAAP? GAAP rules for outstanding checks Staying up to date with GAAP standards Accurately tracking and presenting financial information can be complex, even for smaller organizations.

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Magone & Co. and Wurdemann, Pinto & Co. to Combine on May 1.

CPA Practice

Roseland, NJ-based tax and advisory practice Magone & Co. has signed an agreement to merge with Hackensack, NJ-based CPA firm Wurdemann, Pinto & Co. on May 1. Financial terms of the deal weren’t disclosed. The combined firm will employ approximately 40 people. “What drew us to Wurdemann, Pinto was the firm’s similar company culture and business philosophy, as well as their complementary strengths in client accounting services and advisory services for C-suite executives.

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PEI Spotlight: How AI Is Transforming Finance and Accounting

Withum

The Alternative Route Video Series Experience captivating discussions, fresh insights, and a deeper understanding of the fascinating world of alternative investments. Learn More The post PEI Spotlight: How AI Is Transforming Finance and Accounting appeared first on Withum.

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Professionals on the Move: Feb. 2024

CPA Practice

Professionals on the Move is a round-up of recent promotions and staffing announcements from around the accounting and tax profession. Schneider Downs Boosts Tax Team Schneider Downs & Co., a Top 60 independent Certified Public Accounting (CPA) firm has expanded the leadership team in its Tax Advisory practice through the addition of several new hires.

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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.