Mon.Sep 04, 2023

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Cash Payments Over $10,000 Must Be Reported Online Beginning 1/1/2024

RogerRossmeisl

As reported in IRS News Release IR-2023-157 The Internal Revenue Service announced that starting 1/1/2024, businesses are required to electronically file (e-file) Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return. This new requirement follows final regulations amending e-filing rules for information returns, including Forms 8300.

CPA 278
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Top 100 2024 Certification Clues: QuickBooks Point-of-Sale

Insightful Accountant

Murph clues you in on why the Top 100 2024 process will still award points for QuickBooks Desktop Point-of-sale ProAdvisor Certification even if Intuit drops the certification after it stops supporting QBPOS on Oct. 3, 2023.

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Identifying and Avoiding Business Valuation Pitfalls

RogerRossmeisl

Do-it-yourself business valuations and the use of unqualified financial experts can increase the odds of making an error, misstatement or erroneous deviation from customary valuation practice. These faux pas could trigger (or worsen) an IRS inquiry or perhaps lead to an embarrassing courtroom mishap. Here are three common valuation pitfalls that qualified valuation professionals are specifically trained to avoid.

CPA 261
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Beware the Accumulated Earnings Tax

CPA Practice

Who says you can’t have “too much” money? The Internal Revenue Code imposes a little-known tax for accumulating too much in the way of earnings in a company’s coffers. However, you can avoid this so-called “accumulated earnings tax” if you keep a close watch on your cash flow during the year, The accumulated earnings tax must be paid in addition to the regular corporate income tax.

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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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Protecting Your Business While Using AI

RogerRossmeisl

Have you ever wondered whether the photo or video you’re viewing, the audio you’re listening to or the article you’re reading is real? Artificial intelligence (AI) can make the line between authentic and inauthentic hard to determine. For fraud perpetrators, the ability to create deepfakes, voice clones or machine-generated communications can make their scams far more compelling — and effective.

CPA 246
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A Guide to Avoiding Common Pitfalls: Five Reasons Small Businesses Fail

inDinero Accounting

As a small business owner, the statistics around business longevity might seem daunting. According to the Small Business Administration, only about half of all businesses weather past the first five years. However, this should not deter you from pursuing your entrepreneurial dream. Understanding the common reasons behind business failures can equip you with the knowledge to steer clear of them.

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Art of Accounting: 5th to 100th largest firms growing more than Big Four

Accounting Today

The Other 96 are surpassing the growth of the Big Four in revenues per employee.

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Moving Mom or Dad into a Nursing Home? 5 Potential Tax Implications

RogerRossmeisl

More than a million Americans live in nursing homes, according to various reports. If you have a parent entering one, you’re probably not thinking about taxes. But there may be tax consequences. Let’s take a look at five possible tax breaks. 1. Long-term medical care The costs of qualified long-term care, including nursing home care, are deductible as medical expenses to the extent they, along with other medical expenses, exceed 7.5% of adjusted gross income (AGI).

Tax 246
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Paren Knadjian is Attending the 2023 PACK EXPO Las Vegas

KROST

Our Mergers and Acquisitions Principal, Paren Knadjian, will be attending the PACK EXPO Las Vegas, from September 11th to September 13th at the Las Vegas Convention Center. PACK EXPO Las Vegas brings together packaging and processing solutions suppliers and end users from over 40 industries. Exhibitors launch products, showcase their latest innovations and problem-solve with customers.

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Pocket a Tax Break for Making Energy-Efficient Home Improvements

RogerRossmeisl

An estimated 190 million Americans have recently been under heat advisory alerts, according to the National Weather Service. That may have spurred you to think about making your home more energy efficient — and there’s a cool tax break that may apply. Thanks to the Inflation Reduction Act of 2022, you may be able to benefit from an enhanced residential energy tax credit to help defray the cost.

Tax 245
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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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GST Implication on Employee Stock Option Plans (ESOPs)

VJM Global

Any services provided under Employer and employee arrangement are kept outside the GST ambit as they are neither considered as supply of goods nor supply of services. Employee Stock Option Plans ( ESOPs ) is also one of the most common methods of payment of employment considerations under which a company issues its shares to the employees at a discounted rate.

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Speaker Q&A Francesca Tricarico

Accounting Insight

Introducing Francesca Tricarico, Managing Director of Future Cloud Accounting Limited. Francesca decided 11 years ago that she wanted to create a better life for herself and her children so went back into education. She’d always had a passion for accountancy, so she worked hard and focused her efforts on joining a top practice. As well as studying, she did voluntary work in the industry to become fully immersed in the subject.

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Investigating Large Data Sets

FraudFiles

Complex financial investigations involve large sets of data, numerous accounts, multiple players, and lightning fast movements of money. Being able to accurately document these movements of money is the key to the financial portion of a case, whether it involves embezzlement, bribery, misconduct in office, money laundering, or divorce.

Account 52
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AI, cyber security, AML and more at Accountex Summit Manchester

Accounting Insight

With just a couple of weeks until Accountex Summit Manchester returns to Manchester Central on September 19 2023, here’s a run-down of all things new at the show… The Accountex Summit Manchester CPD accredited seminar programme will explore the pivotal topics to help accounting and finance professionals stay ahead in their career. Visitors can keep up-to-date with the current tech trends, including Artificial Intelligence and how it could be used by the profession going forward.

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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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Four Tips to Inject Strategy Into Your Company DNA

Cherry Bekaert

Differentiating offerings and growing ahead of the market is much more complex than it used to be. To combat overcrowded marketplaces, company strategy and execution must coincide with research initiatives and teamwork. This grows stronger over time and takes place at the molecular level of your firm. Injecting strategy into your DNA requires a disciplined approach that aligns motivated team members with the tools and systems needed to develop and execute a compelling strategy.

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3 Minutes with Nick Stobbs

Accounting Insight

Get to know Nick from Tax on Demand, ahead of joining his panel on the future of AI in tax, at Accountex Summit Manchester on the 19 of September. How did you get into your profession? Growing up I always wanted to be a lawyer. I read all the John Grisham books and watched all the legal movies, one of my favourites of all time being A Few Good Men.

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UWorld Redefines Accounting Education with 'UWorld Accounting'

Insightful Accountant

Following the acquisition of Wiley Efficient Learning, Roger CPA Review, and welcoming Peter Olinto, UWorld raises the bar ahead of its 2024 CPA Review product release.

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The Changing Digital Transformation Landscape of the SME Practice

Accounting Insight

The scale and scope of digital transformation projects vary widely among accounting practices, particularly smaller to medium-sized firms. More than ever before, SMEs are driving their own technology vision, and increasingly, this is due to two factors. First, SMEs are more in tune with the new practice growth opportunities that are becoming apparent today.

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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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QBO Monday Minute: It's QuickBooks Time

Insightful Accountant

Liz Scott checks in on some new exciting stuff coming for all of you QuickBooks Time users. Check out what you can expect—and more.

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Failure to automate payroll processes could lead to millions being paid late or incorrectly

Accounting Insight

In advance of National Payroll Week, IRIS Software Group (IRIS) is calling for payroll professionals to be given the modern tools they need to ensure every employee can be paid the right amount, on time, every time. With latest IRIS research revealing 35% of UK workers have been paid late or incorrectly, and one in five (20%) payroll professionals calling for better integration with payroll software, there’s a clear need for greater technological adoption across the industry.

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