Wed.Feb 14, 2024

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How accountants can make remote work work

Accounting Today

With almost 13% of full-time employees working remotely, and 28.2% in a hybrid arrangement, accounting firms are coming to see the importance of adapting to the new working environment.

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Voting Opens for 2024 Readers’ Choice Awards

CPA Practice

Voting in the 2024 Readers’ Choice Awards is now open. The CPA Practice Advisor Readers’ Choice Awards give our readers the opportunity to spotlight the technologies they most rely on and trust to manage their firms, provide client services, and help those clients run their businesses. From online tax and accounting systems, practice management, document automation and workflow tools, to apps for collaboration, mobile productivity and research.

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Jeff Bezos reaps Florida tax benefit with $4B Amazon share sale

Accounting Today

Leaving Washington state, which in 2022 introduced a 7% tax on capital gains, could have saved Bezos $288 million in taxes after he unloaded $4 billion of Amazon.com stock in the past week.

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80% of Employers Plan to Increase Investment in Workforce Development

CPA Practice

More than 80% of businesses are currently planning to increase overall investment in workforce development in 2024, according to a new survey from RGP, a global consulting firm. The survey explored the key market factors that are shaping workforce investment decisions for U.S. businesses in the year ahead. “There’s a lot of work out there, but the lingering labor market imbalance is causing employers to embrace new ways of finding the skills they need, and our latest research validates this shif

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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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How Do Outsourced Accounting Services Work?

GrowthForceBlog

8 min read Outsourcing is the practice of hiring a third-party provider to manage any aspect of a business. Of course, the most popular business functions to outsource are those that are not directly related to the core function of your business but that are still absolutely necessary for its operation.

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Sage Makes Commitment to Sustainability

CPA Practice

Sage, the leader in accounting, financial, HR and payroll technology for small and mid-sized businesses, is strengthening its commitment to help SMBs get to net-zero at Transform 2024, its annual gathering of Sage Intacct customers, partners and industry experts, taking place from February 26-29 in Las Vegas. Sage’s research, year over year, has confirmed that small- and medium-sized businesses (SMBs) recognize the business benefits of being more sustainable, but often lack the knowledge, fund

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More Trending

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Layoff Anxiety Has Some Workers Ready to Do More For Less, Survey Finds

CPA Practice

By Michael Grothaus, Fast Company (TNS) The past 18 months have been rough for American workers. Since late 2022, mass layoffs have hit several industries, most notably media and tech, as companies large and small seek ways to reduce costs in order to buoy profits. Now a new report out from small business lending firm Clarify Capital reveals just how anxious Americans are about layoffs—and the sacrifices they would be willing to make to avoid them.

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IDC MarketScape Names NetSuite a Worldwide Leader in SaaS and Cloud-Enabled Finance and Accounting Applications

Insightful Accountant

NetSuite has been named a Leader in the IDC MarketScape: Worldwide SaaS and Cloud-Enabled Mid-market Finance and Accounting Applications 2023–2024 Vendor Assessment.

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Cybersecurity for CPAs: Don't get complacent

Accounting Today

In this month's Cybersecurity for CPAs, a firm takes steps to make sure people still follow the safety rules they instituted during work for home.

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Sage Transform 2024 Headed Our Way

Insightful Accountant

Once again, Murph will be covering Sage Transform, the annual conference for the Sage Intacct community. This year, Sage Transform is being held in Las Vegas at the MGM Grand.

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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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Improvements to Income Tax Disclosures in ASU 2023-09

Withum

Before the 2023 calendar year ended, a new Accounting Standards Update (ASU) was issued by the Financial Standards Account Board (FASB) to update the requirements for income tax disclosures under US GAAP. ASU 2023-09 applies to all entities that are subject to income taxes, but some disclosures are only required for public entities. Public business entities must adopt these amendments for annual periods beginning after December 15, 2024, while other entities will have an additional year for adop

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GenAI in anti-fraud tech expected to triple

Accounting Today

Generative AI, which is already playing an outsized role in fraud, is also expected to play an at least equally large role in efforts to fight fraud.

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Skagit County Business Owners, A Big Gmail Update Is on the Way

SkagitCountyTaxServices

For a long time, the NFL was hands-off when it came to Las Vegas. They were unwilling to get anywhere close because of the long-time commissioner’s caution about the connections some big NFL names had with well-known mob connections. Commissioner Pete Rozelle and his successors were adamant about their anti-sports betting stance. Major changes in the NFL’s attitude toward Vegas came, slowly but steadily.

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Deloitte’s Second Service Doggo Is All Grown Up

Going Concern

*Article image is of some other dogs found on a stock image site, I needed an excuse to scroll more dog pics this morning. Happened to see this on the propaganda factory that is the Life at Deloitte Xitter account yesterday and figured it would be good to share, it isn’t often we get feels from Big 4 initiatives. It seems Deloitte’s second service dog is heading off to the next chapter in his journey: And just like that, a new chapter begins for our #PuppyWithAPurpose , Kevin!

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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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IESBA proposes ethics changes for sustainability

Accounting Today

The International Ethics Standards Board for Accountants has proposed new rules to help auditors steer companies away from greenwashing.

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E-Commerce Warehouse Location: The Most Advantageous States for Your Business

Withum

Selecting the optimal state to locate your e-commerce business’s warehouse is a critical decision that can significantly impact operational efficiency, cost-effectiveness, and customer satisfaction. It is important to review both the logistical considerations of getting goods in and out of a particular state and the plusses and minuses of the state tax and business regulatory environment.

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M&A roundup: PKF O'Connor Davies, Mowery & Schoenfeld, and Davies expand

Accounting Today

PKF O'Connor Davies added SuárezBaldomero; Mowery & Schoenfeld merged in Hochfelder & Weber; and Davies acquired Matson, Driscoll & Damico.

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What I Love About Accounting

Withum

There is no better time to share what I love about public accounting than on Valentine’s Day. Following is a list of 14 things I love about public accounting. 14 Reasons Why I Love Public Accounting I love tax season. What profession can you get to interact with every client you have, get updated on their goings on, share their dreams and goals (since most of these have a financial element) and also get paid for it?

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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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The Federal Data Transparency Act and Your Local Government Agency

LSLCPAs

What is the Federal Data Transparency Act? The Federal Data Transparency Act (FDTA or the Act) was passed by Congress on December 23, 2022, as part of the National Defense Authorization Act. It is another step in digitizing data coming on top of the Federal Funding Accountability and Transparency Act (FFATA) of 2006, the Data. The post The Federal Data Transparency Act and Your Local Government Agency appeared first on LSL CPAs.

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Hospitality & Leisure: Spring Budget 2024 Predictions & Wish list

Menzies

Menzies LLP - A leading chartered accountancy firm. As we approach the Spring Budget on 6 March 2024, the UK Hospitality and Leisure sector faces ongoing challenges. Despite some positive outcomes from the Autumn Statement, such as the freeze on the small business rates multiplier for 2024/25 and an extension of the business rates relief scheme, businesses in this sector continue to grapple with ongoing pressure.

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Terrell Turner on Building a Firm, Finding a Niche, and Creating Success

Canopy Accounting

Terrell Turner, co-founder of TLTurner Group and co-host of the Things Your Accountant Isn't Telling You Podcast, shares tips for building a firm from scratch, how to find your niche, and unique ways to create success. Three Main Ideas: Developing a niche : Terrell emphasizes the importance of identifying a specific target market within the accounting industry.

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Retail: Spring Budget 2024 Predictions & Wish List

Menzies

Menzies LLP - A leading chartered accountancy firm. Martin Hamilton highlights what we could expect from the Chancellor’s Spring Budget 2024 this year, and what could benefit the Manufacturing sector. Business rates Modify the scheduled business rates increase in April by transitioning from the Consumer Price Index (CPI) of September 2023 to the projected CPI of April 2024.

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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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Leave Your Ego at the Door

Ryan Lazanis

Ego can lead many firm owners away from their ultimate objectives. Check out how I was able to manage my ego and why you should too. The post Leave Your Ego at the Door appeared first on Future Firm.

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How to Find and Develop Your Niche

Summit CPA

Finding and developing your niche can help you grow your business. Marketing to potential clients operating in a specific industry can help you increase your profit margins as you gain more experience servicing clients in your chosen niche and ultimately charge more money for your expertise. Chances are you'll even streamline your operations as you become more accustomed to offering your services to your choice clientele.

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Mowery & Schoenfeld Merges in Chicago Firm Hochfelder & Weber

CPA Practice

Top 200 accounting firm Mowery & Schoenfeld has merged with Hochfelder & Weber, a CPA firm with a 91-year history in Chicago. Financial terms of the deal weren’t disclosed. The combined firm will continue as Mowery & Schoenfeld, with Robert Olson, managing partner of Hochfelder & Weber, becoming a partner at Lincolnshire, IL-based Mowery & Schoenfeld.

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2024 Tech Company Tax Tips

Shay CPA

Does thinking about filing your taxes put some tension on your shoulders? If so, it’s probably because you’ve had a less-than-ideal filing experience in the past. And in most cases, those unwelcome filing instances come from surprises. Or you might be feeling stressed because you don’t know what to expect. Either way, we can help. By giving you a heads-up in some key areas, we can make filing your tech company’s 2024 taxes a whole lot easier — and less stressful.

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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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IRS Seeks More Than $1 Billion From SVB for Taxes

CPA Practice

By Sabrina Willmer, Bloomberg News (TNS) The IRS is seeking to recover about $1.4 billion in taxes it claims are owed by Silicon Valley Bank, the regional lender that failed last year. The federal tax agency claims the California-based lender owes both corporate income and employment taxes spanning a four-year period ending in 2023, according to a lawsuit filed Tuesday in Washington federal court.

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Disappearing Income and Asset Values in Divorce

FraudFiles

We’ve all seen it before: A spouse owns and operates one or more businesses. Divorce is filed, and the “out” spouse is told that the businesses have little or no value. Further, there is no income available to pay support, thanks to the poor financial condition of the businesses. How can this be when the [.

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PKF O’Connor Davies Picks Up a Boutique Firm in New Jersey

CPA Practice

Top 30 accounting firm PKF O’Connor Davies acquired Little Falls, NJ-based SuárezBaldomero, a boutique CPA firm with a growing international clientele, on Jan. 1. Financial terms of the deal weren’t disclosed. Belarmino A. Suárez, shareholder at SuárezBaldomero, and all of the firm’s employees have joined PKF O’Connor Davies and remain in their current office in Little Falls.

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Cash Balance Plans: What You Need to Know about Tax Savings

Summit CPA

As tax time nears, there’s one question every small business owner is asking themselves (and their financial advisor ): “Why am I writing such a big check to the IRS ?

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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.