Mon.Nov 20, 2023

article thumbnail

Navigating the AI Wave in Accounting | Part 2: The Cutting-Edge of AI in Accounting

Insightful Accountant

The digital transformation of the accounting world isn't just coming—it’s already here, and AI is leading the charge. In Part 2, we invite you, the tech-curious accountant, to roll up your sleeves and delve deeper into the AI toolkit.

Account 52
article thumbnail

IRS Outlines Withdrawal Process for Employee Retention Tax Credit (ERTC) Claims

RogerRossmeisl

As reported via IR-2023-193 on 10/19/2023 Special initiative aimed at helping businesses concerned about an ineligible claim amid aggressive marketing, scams As part of a larger effort to protect small businesses and organizations from scams, the Internal Revenue Service announced the details of a special withdrawal process to help those who filed an Employee Retention Tax Credit (ERTC) claim and are concerned about its accuracy.

Tax 262
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

96% of Accountants Think Automation is Essential for Profession

CPA Practice

A new study on how accounting professionals feel about their profession, job satisfaction, and automation has found that, while they are overwhelmingly positive about the profession, there is a clear need for more automation. This is an opportunity for firms to provide better client and employee experiences and to gain a competitive advantage. These results were part of the study, “Automation: Putting Accountants on the Right Path,” which was commissioned by ShareFile , a business unit of Cloud

article thumbnail

Master Class in Automotive Modular Assembly

RogerRossmeisl

As posted to the AutoLine Network YouTube Channel on 9/11/2023 (Run Time 10 min, 13 sec) AutoLine’s John McElroy interviews Caresoft’s Han Ly at the International Motor/Mobility Show in Munich. Caresoft, a company that specializes in vehicle teardowns and benchmarking, provides insights into how Tesla designs its cars for modular assembly, notably how it eliminates fasteners and complexity.

CPA 130
article thumbnail

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.

article thumbnail

Why Small Business Owners Should Sign Up for the New IRS Business Tax Account 

CPA Practice

By Melissa Angell, Inc. (TNS) The new business tax account from the IRS , unveiled in late October, is expected to expand next year with a slate of new features that should make tax time a little smoother for entrepreneurs. The new features will allow companies to check their tax payment history, make payments, view notices, and enjoy the benefits that an individual tax account offers.

article thumbnail

New rules proposed on credits for renewable energy property

Accounting Today

The Treasury and the IRS issued laid out possible regs to update the investment tax credit rules to encompass various forms of renewable energy.

Tax 117

More Trending

article thumbnail

Top Remote Accounting Freelancers of the Week: November 20, 2023

Going Concern

Looking to staff up for a season or hire a freelancer for a project? Accountingfly is ready to partner with you! Gain full access to a pool of highly skilled and experienced remote freelance accountants ready to join your team with with no up-front cost. We are sharing a sneak peek of a few top freelance accounting candidates available this week with Accountingfly.

Account 103
article thumbnail

Retail Sales Up 2.5% Year-Over-Year

CPA Practice

Retail sales kept up a long streak of year-over-year gains in October even though the rate of growth continued to slow, according to a statement from National Retail Federation Chief Economist Jack Kleinhenz. His remarks were in response to the U.S. Census Bureau’s most recent release of monthly retail sales data. “Fourth-quarter consumer spending stepped off on a more moderate pace, as expected,” Kleinhenz said.

Retail 111
article thumbnail

Business Travel Expenses: What Companies Need to Know 

inDinero Tax Tips

Figuring out business travel expenses can be confusing. The IRS has many rules outlining deductibility, and without a well-thought-out system for tracking business expenses , maximizing deductions while remaining protected from an audit can be a challenge. This article is a part of our ultimate guide on business expenses and tax deductions. We’ll cover everything from the general rules and efficient record-keeping to incorporating tax-deductible personal days into your trip.

article thumbnail

Survey: Most Holiday Shoppers Are Ready to Splurge

CPA Practice

By Seychelle Thomas, Kiplinger Consumer News Service (TNS) Inflation woes threaten to put a damper on holiday shopping but the latest Merry Money Survey by TD Bank found that it probably won’t stop most shoppers from loading up their sleighs. Rather than avoiding gift shopping altogether, 70% are budgeting for their purchases and another 80% are planning to seek out discounts and special offers to save money.

article thumbnail

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.

article thumbnail

Bonadio Group finds ways to attract more people to accounting firms

Accounting Today

The Top 50 Firm is improving its compensation and benefits to bring in more experienced professionals and young recruits.

article thumbnail

QuickBooks Inventory, Sales and E-commerce Enhancements

Insightful Accountant

QuickBooks is enhancing their inventory, sales and E-commerce capabilities by incorporate components from QuickBooks Commerce which they acquired from Trade Gecko.

article thumbnail

The Guide to 2024 Tax Season-Individual Updates

Canopy Accounting

Identify and comprehend the latest updates and changes in tax laws for the upcoming 2024 tax year.

Tax 111
article thumbnail

AvidXchange Releases Top Priorities and Trends for Finance Leaders in 2024

Insightful Accountant

AvidXchange report reveals top five initiatives finance professionals are considering when planning for the year ahead.

Finance 103
article thumbnail

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.

article thumbnail

Ted on Tech: Upgrading your office

Accounting Today

With the holidays coming fast upon us, it's time to start thinking about presents. Ted Needleman scoured the review pile to see what might be appropriate to update your office, or to gift to staff.

article thumbnail

Maximizing Client Success: A Memorable Journey at the QuickBooks Connect

Insightful Accountant

Susan Pruskin shares her wonderful experience at QB Connect. Join her as she revisits her first ever Human Tunnel welcome, and amazing Main Stage Speakers.

article thumbnail

Art of Accounting: 10th anniversary column, looking forward to next 10 years

Accounting Today

Public accounting is rapidly moving into the future, and anyone who doesn't realize this will fail to remain competitive or viable.

Account 77
article thumbnail

New Jersey Society of CPAs Announces CPA Exam Lottery Winners

CPA Practice

The New Jersey Society of Certified Public Accountants has awarded 10 of its members $750 each towards their CPA Exam fee costs. The CPA Exam Fee Lottery winners, which are Affiliate or Student members of the NJCPA, were selected at random out of more than 50 entries. The annual lottery, which launched in 2019, was created to partially offset the cost of preparing for and taking the CPA Exam, which can exceed more than $2,500 considering enrollment fees, review courses, study guides and other pr

article thumbnail

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

article thumbnail

Millennials Will Be Spending Like It’s 2019 This Holiday Season Per the Deloitte Black Friday Report

Going Concern

Someone who’s good at both math and Googling should tally up how many reports Deloitte consultants crank out in a year, it’s got to be at least 1,000. Today it’s a timely one: Deloitte’s 2023 Black Friday-Cyber Monday Survey. Key takeaways from the survey of 4,318 consumers : Consumers plan to spend an average of $567 during the Black Friday-Cyber Monday (BFCM) shopping events (Thursday, Nov. 23 – Monday, Nov. 27), up 13% from last year.

Retail 62
article thumbnail

CBIC Notifies Amnesty Scheme for filing of Appeal under GST till 31.01.2024 

VJM Global

Amnesty Scheme is a one time window that the government opens to complete compliance of earlier periods. Government keeps on announcing Amnesty scheme for various compliances so that those who have failed to carry such compliance by the specified due date may complete the same within new notified dates with less or no penalties. Similar to Amnesty Scheme of Filing of Annual returns , Filing application for revocation of cancelled GSTIN , CBIC has now announced an amnesty scheme for filing of App

Tax 59
article thumbnail

Weaver to merge in Buchbinder Tunick

Accounting Today

The Top 40 Firm based in Houston expanding its East Coast presence in New York, the Washington, D.C. area and New Jersey.

article thumbnail

Business Travel Expenses: What Companies Need to Know 

inDinero Tax Tips

Figuring out business travel expenses can be confusing. The IRS has many rules outlining deductibility, and without a well-thought-out system for tracking business expenses , maximizing deductions while remaining protected from an audit can be a challenge. This article is a part of our ultimate guide on business expenses and tax deductions. We’ll cover everything from the general rules and efficient record-keeping to incorporating tax-deductible personal days into your trip.

article thumbnail

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.

article thumbnail

Is CRM worth it?

Accounting Today

Customer and client relationship management systems have come a long way, says Sarah Dobek of Inovautus Consulting.

68
article thumbnail

When Will 2024 Tax Refunds Come? 2024 Tax Season Questions.

CPA Practice

It’s almost December, which means the 2024 tax filing season is coming soon. The IRS usually starts accepting e-filed income tax returns in the last week of January each year, with the deadline to file returns being April 15 (which can vary based on weekends or state holidays). If you’re wondering how long it may take to get your refund when you do file, you’re not the only one looking for the answer.

Tax 52
article thumbnail

Yes, Carbon Neutrality Can Drive Profitability

Cherry Bekaert

Saving the Planet and Increasing Corporate Profits Simultaneously “We’re Proudly Committing to Net Zero Carbon Emissions by 2035”, reads the headline. Such long-term, carbon-neutral goals have become fashionable announcements for companies and ownership groups. They increasingly seem to be downright mandatory for consumer brands, otherwise risking enouncement by a “climate cancel-culture.

article thumbnail

A Closer Look: Engagements & Proposals

Canopy Accounting

Come get a closer look into Canopy's Engagements & Proposals, the first ever natively built Engagements functionality in a practice management software, and how it can help your firm decrease admin manual labor, deliver 5-star client experiences, and collect payment faster.

52
article thumbnail

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.

article thumbnail

Weaver to Add New York CPA Firm Buchbinder Tunick

CPA Practice

Top 35 accounting firm Weaver will be merging in New York-based CPA firm Buchbinder Tunick & Co. on Jan. 1, 2024. This deal expands Weaver’s East Coast presence to five offices, including two in New York City, one on Long Island, one in New Jersey, and one in Washington, D.C. It also adds 125 audit, tax, and advisory professionals, including 16 partners, to the Houston-based firm.

article thumbnail

QuickBooks Connect 2023 Recap

SchoolofBookkeeping

Gather 'round, accounting aficionados! Intuit, the grand maestro behind QuickBooks, TurboTax, Credit Karma, and Mailchimp, has descended from the financial heavens to grace us with their 10th QuickBooks Connect extravaganza. It's a sold-out spectacle in Las Vegas, where over 2,500 bean counters and financial wizards are about to witness innovations that will undoubtedly change the way we pretend to enjoy crunching numbers for small businesses.

article thumbnail

Shakira Reaches Deal to Settle Spanish Tax Fraud Case Before Trial Begins

CPA Practice

By Ellise Shafer, Variety Entertainment News Service (TNS) Shakira has reached a deal with Spanish authorities to settle her tax fraud case, on the day the trial was set to begin. The Colombian pop star was due to appear in court on Monday to face tax evasion charges. Spanish authorities had claimed Shakira owed over €14.5 million in taxes between 2012 and 2014, alleging that she had listed the Bahamas as her primary residence for those years but had in fact spent the majority of her time in Spa

Tax 52
article thumbnail

Wise - Money without borders

Inform Accounting

We're proud to be partnered with one of the market-leading foreign currency accounts! Wise Business is the only business account you need to go global. It has everything you need to grow and operate internationally - without the high fees, hefty admin, and headache of a local bank.

article thumbnail

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.