Wed.Jan 31, 2024

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Problems found in new IRS online 1099 portal

Accounting Today

The Internal Revenue Service has been working to resolve a problem that was preventing businesses and tax professionals from using a new online portal where they could file their 1099 forms for free.

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Five Tax Breaks Often Overlooked By Small Business Owners

CPA Practice

By David Faulkner, CFP, RICP, Kiplinger Consumer News Service (TNS) As a U.S. citizen and business owner, I really don’t have a problem with paying the taxes I owe. I understand the money the IRS collects (about $4.3 trillion, net , in federal taxes in 2022) goes toward everything from education, transportation and the country’s defense to Social Security, health care and veterans’ benefits.

Tax 126
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House passes bill expanding Child Tax Credit and business breaks

Accounting Today

The House passed tax extenders legislation reviving a number of tax breaks, including the enhanced Child Tax Credit, the ability to fully deduct research and development expenses in the first year, 100% bonus depreciation, disaster tax relief, and more.

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PwC Admits the Next PCAOB Inspection Report Won’t Be Great

Going Concern

In an audit quality report released last week [ PDF ], the once flawless PwC admits its next PCAOB inspection report will be twice as bad as the last one. That’s not so terrible though, PwC has proven in recent years they are superior to all other auditors when it comes to avoiding deficiencies from the PCAOB — in 2020, PwC had a record-low 1.9% deficiency rate with just one mistake found in 52 audits inspected.

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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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Reshaping the pyramid

Accounting Today

The accounting profession is in the midst of a vast experiment with a host of new ways to structure how firms are owned and managed.

Account 133
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HLB International Named Best Cross-Border Collaboration for Tax Solutions Global 2023 by Capital Financial International

Withum

Withum’s global advisory and accounting network, HLB International, has been named the Best Cross-Border Collaboration for Tax Solutions Global 2023 by Capital Financial International (CFI). Pictured: Dave Springsteen, Withum Partner Emeritus, HLB Global Tax, Surabhi Bansal, Shannon Smith, Kimberlee SP Murphy, Partner, Withum International Services Practice Leader, Christian Jahndorf, Nick Farmer.

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More Trending

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CPA Evolution Update: What You Need to Know About Scores and Credit Extensions

Going Concern

NASBA held a quick little webinar yesterday on CPA Evolution and although I had a million other things I’d rather do, I sat in on it to bring you any important information. Let’s get right into it and preface all of this by saying if you have any questions or concerns about anything you see here or are unsure it applies to you, always check with NASBA and/or your state board for the most accurate and up-to-date information.

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10 IRS Red Flags

Insightful Accountant

Audits are unpredictable, with some being random and others based on income, entity structure, or common errors. To minimize audit risk and save time, handle 10 red flags cautiously.

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Patriot Software Expands Its Affiliate Marketing Program

Patriot Software

Canton, Ohio Accounting and payroll industry stalwart, Patriot Software, is expanding its affiliate marketing with a national launch of its Affiliate Program on Impact.com. According to Paul Bailey, Patriot Software’s Chief Technology Consultant, “Businesses are blown away by our intuitive software and our markedly different approach to customer support.

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Meet 2023 Top 25 Up-N-Coming ProAdvisor Jennie Morris

Insightful Accountant

We sat down with Jennie to get her thoughts on being a Top 25 Up-N-Coming ProAdvisor, her journey, her path to success, and her hands-on approach to her clients.

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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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Patriot Software Expands Affiliate Marketing Program

CPA Practice

Accounting and payroll technology maker Patriot Software is expanding its affiliate marketing with a national launch of its Affiliate Program on Impact.com. According to Paul Bailey, Patriot Software’s Chief Technology Consultant, “Businesses are blown away by our intuitive software and our markedly different approach to customer support. Our tens of thousands of customers love us.

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Simplified and Automated Cloud-Based Tax Calculations with AvaTax

AccountingDepartment

AvaTax by Avalara is a groundbreaking solution that revolutionizes the way businesses handle tax calculations. This cutting-edge cloud-based software simplifies the complexity of tax calculations, ensuring accuracy and efficiency every step of the way.

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IRS to offer an Employee Retention Credit Webinar on Feb. 8

Insightful Accountant

As part of an ongoing process to educate and inform people about the Employee Retention Credit (ERC), the Internal Revenue Service will host a free ERC Voluntary Disclosure Program webinar on Thursday, Feb. 8 at 2 p.m. EST.

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Clean Vehicle Credit: IRS Energy Credits Portal Open for EV Dealers

Cherry Bekaert

The Internal Revenue Service (IRS) has recently opened the doors to its Energy Credits Online Portal Registration , marking a significant milestone for electric vehicle (EV) dealers across the country. This portal is a critical tool for those looking to capitalize on the Clean Vehicle Credit. Dealers should register as soon as possible to receive advance payments that will offset the amount of tax credits that are applied to customers’ purchase prices.

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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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ADP Adds Generative AI Option for HR, Payroll, Analytics

CPA Practice

ADP has launched ADP Assist , a cross-platform solution powered by generative AI (GenAI). ADP Assist enhances HR productivity, aids decision-making with data-driven insights, and streamlines day-to-day tasks for practitioners, managers, employees and executives with simple, human-like conversations. It harnesses the power of ADP’s unparalleled data and expertise along with GenAI to simplify the world of work.

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The flaw in the partner model: Partners

Accounting Today

The structure of most accounting firms hampers their ability to move quickly in a fast-paced environment and to foster accountability.

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IRS Tax Relief for Taxpayers Impacted by Severe Storms in Rhode Island

Withum

As a result of destruction and damage caused by severe storms, flooding, and tornadoes that impacted parts of Rhode Island beginning on September 10, 2023, the Internal Revenue Service (IRS) has announced through its releases IR-2024-01 (January 26, 2024) and IR-2024-27 (January 30, 2024) that affected taxpayers in designated disaster areas will be provided tax relief.

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What Is Intacct Marketplace?

GrowthForceBlog

7 min read When selecting an accounting software solution for your business, flexibility, scalability, and the software's ability to meet your business's ever-evolving needs is key. One of the leading commercial accounting software solutions, Sage Intacct®, offers users dynamic features and capabilities within the software and via a vast marketplace of fully integrated applications.

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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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Fujitsu promises better quality control after UK post office scandal

Accounting Today

The Tokyo-based technology company is the subject of an inquiry into a glitch in its Horizon accounting software that led to the wrongful accusations of theft, fraud or false accounting of sub-postmasters.

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Avalara Announces Partner Program Transformation

CPA Practice

Avalara, Inc. , a provider of cloud-based tax compliance automation for businesses, has launched its updated Avalara Partner Program to drive partner growth and alleviate the burden of tax compliance on businesses. The company says the launch is the beginning of a multiyear vision for partners to drive sustainable growth and opportunity, make it easier to do business with Avalara, and deliver peace of mind to their customers who are leveraging a leading tax compliance platform.

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IRS collection notices are coming back

Accounting Today

Tax pros and taxpayers should be aware that the IRS is restarting its 'collection notice stream.

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Free Webinar: Grow Your Law Firm and Improve Profitability with These 4 Financial Metrics

Anders CPA

Reserve Your Spot Now! Register Now Financial metrics are an important asset for growing your law firm. In this webinar, you will discover how much cash a law firm should have in the bank, what a forecast is and why you need one, how metrics can serve as levers to increase profitability, and how to measure your pipeline. You’ll also learn how to compare your metrics to other firms in the industry.

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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 'Call Your Mom' strategy for CPA firm communication

Accounting Today

Seek feedback from someone outside your professional circle who isn't mired in industry jargon.

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Dawn Brolin's Keys to a Successful Work-Life Balance

Canopy Accounting

Dawn Brolin, CEO of Powerful Accounting provides valuable insights into achieving success and work-life balance in the accounting profession. She encourages accountants to prioritize mindset, set boundaries, embrace technology, and cultivate relationships with clients for long-term success.

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Private sector added 107K jobs in January

Accounting Today

Private sector employers added 107,000 jobs in January as annual pay grew 5.2% on a year-over-year basis, payroll giant ADP reported.

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ADP® Assist with Generative AI Features Makes HCM Decisions Easy, Smart and Human

Insightful Accountant

Comprehensive AI solution transforms ADP's vast work data into actionable insights

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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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The firm structures of the future

Accounting Today

A glossary of all the new or newly popular ways accountants are organizing their practices.

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The 1 Business System That Maintains My Sanity

Ryan Lazanis

Learn my journey of implementing a system in my business that shifted me to a much more relaxed and stress-free mindset. The post The 1 Business System That Maintains My Sanity appeared first on Future Firm.

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Small businesses see wage growth start to stagnate

Accounting Today

Hourly earnings growth for employees is slowing, even as job growth continues, according to a new report from Paychex.

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Case Study: Achieving Financial Stability Through Healthcare Claims Administration Review

Withum

Download a PDF of this case study Executive Summary In response to escalating plan costs and a lack of transparency, a group dental practice, faced challenges in trust erosion with service providers, uncertainty in claims experience, concerns about plan funding, and financial vulnerability due to claims volatility. Withum’s strategic approach involved a comprehensive risk assessment, a thorough review of 100% of electronic claims data, in-depth analysis of stop loss administration, and strategic

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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.