Mon.Jul 17, 2023

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Mastering Tax Planning: Proven Strategies to Minimize Your Tax Liabilities

MyIRSRelief

Tax planning is a vital aspect of financial management, both for individuals and businesses. It involves a proactive approach to legally reduce tax liabilities by optimizing financial decisions throughout the year. In this comprehensive guide, we will explore various tax planning techniques and strategies that can empower you to keep more of your hard-earned money while staying in full compliance with the tax laws.

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Taxpayers Warned About Frivolous Tax Claims

CPA Practice

Have you ever heard someone say something similar to the following? “I am an American citizen and I don’t have to pay any taxes. It is unconstitutional for the IRS to impose income taxes on individuals residing in this country. This was not the intent of our Founding Fathers who fought against taxes are there was no income tax in place when the Declaration of Independence was signed.

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Exciting Artificial Intelligence Applications To Consider for Your Business

Cherry Bekaert

Everyone is talking about artificial intelligence (AI) these days, but did you know that it has been around for years in back-office settings like IT and finance? However, with the boom created by ChatGPT and generative AI, we’re starting to see applications sprouting up for new front-office settings. In this episode of Cherry Bekaert’s Digital Journeys podcast, Hisham Nabi , Managing Director of Digital Advisory, and Rashaad Balbale , Senior Manager of Strategic Growth and Innovation, will di

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Dutch KPMG Cheaters Might Get a Call From the PCAOB

Going Concern

In today’s Monday Morning Accounting News Brief (published every Monday morning at…whenever I roll out of bed), I shared this story from DutchNews about a new round of cheating of the answer-sharing variety at another KPMG arm. Add the Netherlands to the ever-growing list of cheaty KPMG arms, I guess. From that article: At least 500 workers at KPMG in the Netherlands have cheated during the compulsory exams which accountants are required to take, the consultancy group has confirmed.

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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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Nonprofits benefit from remote accountants

Accounting Today

Despite the return to the office following the easing of the COVID pandemic, some accountants who work with nonprofit organizations are still working remotely as well.

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Monday Morning Accounting News Brief: Deloitte CEO Says He Doesn’t Deserve His Pay; The Accountant Shuffle | 7.17.23

Going Concern

Australian media is still all up in PwC’s colon, this time it’s news.com.au telling us that partner pay at PwC Australia is “honestly eye-watering.” Partner pay figures were provided to the Senate as part of an inquiry related to the firm’s sharing of confidential government tax information. It’s understood PwC’s ex-CEO Tom Seymour was the highest-paid partner at the firm in the 2021-2022 financial year, with a salary of between $4.45 million and $4.5 million.

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Nonprofit Spotlight: Advocating For Human Rights, Not Special Rights

GrowthForceBlog

Founded in Georgia, disABILITY LINK is a Center for Independent Living (CIL) organization that aims to help people with disabilities achieve their independent living goals.

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Art of Accounting: No pipeline myth

Accounting Today

Today's new partners will be tomorrow's leaders, just as yesterday's new partners are today's leaders.

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401(k) Plan Asset Report and Reconciliation

Anders CPA

Your 401(k) plan management team, including the plan administrator and trustee , are in charge of the establishment and maintenance of the plan’s internal controls. The plan management team is also responsible for the presentation of available net assets for benefits and other plan financial statements. Management is also accountable for the implementation of effective internal control to make sure that investment performance is monitored and reported accurately so that corrective action can be

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Inside the SBA's new rules

Accounting Today

Small Business Administration loan expert Shannon Hay talks about the changes to the SBA's new SOP around lending, and what they mean for accounting firms and their 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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Succession Planning for Solo Practitioners

Insightful Accountant

In our upcoming webinar, join Tax Titans' Alan Blakeborough as he discusses why succession planning matters for today's solo accountants and small firms. Join us, Wednesday, July 19, at noon (EST). You can register here.

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State and Local Taxes Changing At Rapid Pace

CPA Practice

The number of changes in jurisdiction rates across the U.S. have increased by more than 40% through June 30 compared to the same period last year. Proving once again that agility will be crucial for businesses to meet their compliance obligations. This is according to the latest Mid-Year Sales Tax Rates and Rules report from Vertex Inc. , a global provider of tax technology solutions.

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QB Talks is Wednesday, July 19, 2023, at 2 p.m. (EST)astern

Insightful Accountant

Learn how to protect yourself and ensure compliance with the mandates of the FTC and IRS when it comes to safeguarding personal information you obtain as part of financial transactions in the course of business.

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California Charities–What to Report to the California Registry of Charitable Trusts

LSLCPAs

Don’t Forget to Register Your Raffle with Form CT-NRP-1. The California Attorney General monitors charities to ensure that their assets are used for charitable purposes only. This article discusses some of the details to note when filing California Registry of Charitable Trusts Annual Registration Renewal Form RRF-1, which all California charities must file in addition.

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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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Enhancing Workplace Success: The Power of Employee Benefit Schemes

Menzies

Menzies LLP - A leading chartered accountancy firm. In today’s competitive job market, attracting and retaining talented employees has become a significant challenge for organisations. One powerful tool that can make a difference is a well-designed employee benefit package. Employee benefit schemes go beyond just salaries, offering a range of perks and advantages that enhance the overall work experience and create a supportive environment for employees.

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Using Bank Statements to Evaluate Income in Divorce

FraudFiles

Bank statements can be invaluable in evaluating an individual’s income for divorce and child support cases. They can help evaluate the person’s income, but an analysis of the expenditures is important too. Tracy Coenen talks about some of the specific ways the data can be analyzed.

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IRIS Software Group and cloudapps partner to supercharge business forecasting and decision-making

Accounting Insight

IRIS Software Group (IRIS), is today announcing a partnership with cloudapps empowering business leaders through AI-powered revenue intelligence tools to provide precise, efficient, and fast delivery of insightful predictions. With the Credit Protection Association reporting around 50,000 UK businesses fail every year due to a lack of cash flow, the need for accurate, real-time data to provide mission-critical insights on performance and financial forecasts is essential in today’s environm

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UBS picks EY as main auditor for Credit Suisse combo

Accounting Today

The audit fee for the combined group is expected to be less than the sum of the standalone audits, but would still be one of the highest in global banking.

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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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Transforming Our Organizational Culture: A Comprehensive Approach to Retaining Talent

IgniteSpot

Learn how Ignite Spot uses culture to retain its talented accounting workforce. We have wonderful people that love working here because of these ideas.

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Wipfli merges in Clayton & McKervey

Accounting Today

The Top 20 Firm is expanding its presence in Michigan.

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Key Highlights from 50th GST Council Meeting

VJM Global

GST Council meetings have completed its half century with 50th GST Council meeting held on 11th July 2023 at New Delhi under chairmanship of Hon’ble Union Finance & Corporate Affairs Minister. 50th GST Council meeting concluded providing suggestions on: Changes in GST rates of various goods and services; Relaxation in filing of GSTR-9 and GSTR-9C for FY 2022-23; Clarification on issues raised by industries such as distribution of ITC , supplies to government departments etc.

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Tax Issues When Selling a House After a Divorce

CPA Practice

What are the tax consequences regarding a home sale if you and your spouse split up or divorce? The home sale exclusion remains one of the biggest and best tax breaks on the books. If a married couple filing jointly qualifies, they can exclude from tax up to a half million dollars of their profit when they sell their principal residence. However, you must meet certain requirements spelled out in the tax law.

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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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Trust in the Federal Government is in a Tailspin. Here’s How Agencies Can Rebuild It.

Cherry Bekaert

Initially published by GovernmentExecutive – Click for the article Agencies must prove they are competent and support values such as transparency. On May 25, 1961, President John F. Kennedy made a bold statement. “I believe that this nation should commit itself to achieving the goal, before this decade is out, of landing a man on the moon and returning him safely to the earth,” he said in a joint address to Congress.

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Intuit Launches App for Tracking Worker Hours, Schedules, and PTO

CPA Practice

Employees of small and larger businesses often need to use disconnected tools to track their work hours, schedules, and paid time off, leaving them frustrated and uncertain about finances on payday and between paychecks. Today, Intuit Inc. alleviates these pain points on a global scale with the launch of the new QuickBooks Workforce mobile app. Intuit is the global financial technology platform that makes Intuit TurboTax , Credit Karma , QuickBooks , and Mailchimp.

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New QuickBooks Workforce App Goes International

Insightful Accountant

In addition to the US, the new QuickBooks Workforce app is available to users in Canada, the UK and Australian. Users now can manage their work, pay and benefits within a single app.