Becoming an Accounting Firm of the Future: The Benefits of Embracing New Technology
Insightful Accountant
DECEMBER 27, 2023
The Bonadio Group's Jennifer Wood takes a deep dive into the benefits of embracing new technology today.
Wed.Dec 27, 2023
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IRS updates guidance on EV tax credits
Accounting Today
DECEMBER 27, 2023
The Internal Revenue Service has updated its frequently asked questions to offer more guidance on what kinds of components can be used in electric vehicles to qualify for tax credits.
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Here’s How Many People Were Laid Off From the Big Accounting Firms This Year (That We Know Of)
Going Concern
DECEMBER 27, 2023
Today is December 27, assuming there is no accounting firm in the entire country shitty enough to lay people off just days before the end of the year (a generous assumption), we should be able to tally up how many people were shown the door in 2023. These are U.S. numbers for Big 4 and mid-tier firms only, if we missed some get in touch. Also, these layoff numbers include only layoffs that were A) confirmed and B) counted by the firm as layoffs, meaning this year’s aggressive PIP usage and
IRS publishes technical guides for tax-exempt groups and credit unions
Accounting Today
DECEMBER 27, 2023
The Internal Revenue Service's Exempt Organizations and Government Entities unit has published two new technical guides aimed at nonprofits.
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.
Five Ways Offering Advisory Services Can Help You Escape the Accountant’s Trap
CPA Practice
DECEMBER 27, 2023
By Adam Lean, Co-Founder & CEO, The CFO Project. In my role as CEO of The CFO Project , a community that helps accountants start and scale CFO/Advisory practices, I’ve noticed that many accounting and bookkeeping firm owners are stuck in what we call The Accountant’s Trap. What is the Accountant’s Trap you might ask? It’s where financial professionals are trapped working long hours for low fees, are forced to deal with high-demanding clients,while being burnt out on compliance and transactio
What do tech vendors have in store for 2024?
Accounting Today
DECEMBER 27, 2023
Technology developers who serve the accounting profession share the developments they have planned for 2024.
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QuickBooks Online Balance Sheet Budgets
Insightful Accountant
DECEMBER 27, 2023
One less excuse for Desktop Users when it comes to migrating to QBO. There is now Balance Sheet Budgeting available in QBO Plus and QBO Advanced.
Gift Tax Exclusion Increases for 2024: How to Get the Most Benefit
CPA Practice
DECEMBER 27, 2023
Do you want to transfer wealth to other family members without dire tax consequences? One of the easiest ways to do it, and one of the most effective, is to simply give lifetime gifts to other family members. If you stay within the tax law boundaries, these lifetime gifts will qualify for the annual gift tax exclusion. And even if you exceed the limits, the remainder is usually covered by the unified estate and gift tax exemption.
Food Bank for NYC calls for IRS VITA volunteers
Accounting Today
DECEMBER 27, 2023
The IRS-sponsored program relies on hundreds of dedicated accounting volunteers to ensure filers receive the crucial and necessary tax refunds they depend upon and ultimately help people fight poverty and food insecurity.
IRS Extends Tax Filing Deadlines in Some Areas of Tennessee
CPA Practice
DECEMBER 27, 2023
By Katelyn Washington, Kiplinger Consumer News Service (TNS) Following severe tornadoes and storms that began on Dec. 9, the IRS has announced a Tennessee tax deadline extension for affected taxpayers. Eligible individuals and businesses now have an extended tax deadline of June 17, 2024. The extended deadline applies to various tax filings and payments originally due between Dec. 9, 2023, and June 17, 2024.
How to Build the Ideal HR Team
Advertiser: Paycor
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.
IRS extends due dates for qualified intermediaries
Accounting Today
DECEMBER 27, 2023
The Internal Revenue Service has extended some of the deadlines for qualified intermediaries, withholding foreign partnerships and withholding foreign trusts.
Generative AI Now Being Used for Financial Advice
CPA Practice
DECEMBER 27, 2023
By Rachel Christian, Bankrate.com (via TNS). As the New Year approaches, many people are addressing financial resolutions. But a significant number of Americans feel like they’re behind on achieving their money goals. About 80% of Americans didn’t increase their emergency savings this year, according to a recent Bankrate survey. Nearly one-third of households (32%) have less emergency savings now than at the start of 2023.
Data finds accountants most productive on Tuesday
Accounting Today
DECEMBER 27, 2023
Recent data has found that accountants complete the most tasks on Tuesday, and the least on Friday.
Debtor’s Prison
Withum
DECEMBER 27, 2023
We no longer have debtor’s prisons, but people deep in debt are prisoners of a sort. Whatever is owed is an encumbrance of your future earnings, and the work you do to acquire funds to repay your debt takes away some of your freedom. In effect, you are placed in a “prison” in that you are working to reduce debt acquired somewhere along the way. One way to avoid this is to not borrow or not take on debt.
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.
AICPA Wants Changes to the Labor Department’s Retirement Security Rule
CPA Practice
DECEMBER 27, 2023
The American Institute of CPAs recently submitted a comment letter to the U.S. Department of Labor related to RIN 1210-AC02, Retirement Security Rule: Definition of an Investment Advice Fiduciary. The letter states support for the proposed rule, particularly for fiduciary relationships acting in the public’s best interest with respect to any advice to the public.
Why accountants shouldn't worry about AI
Accounting Today
DECEMBER 27, 2023
Here's how artificial will really impact accountants and what to do about it.
Reminder: Deadline for Retirement RMDs is Dec. 31
CPA Practice
DECEMBER 27, 2023
It’s that time of year again. The end of each year is the deadline to take required minimum distributions from funds held in individual retirement arrangements and other retirement plans. The IRS recently sent out a reminder, which applies to taxpayers aged 73 or older (born before 1951), and noted new requirements under the law beginning in 2023. Required minimum distributions , or RMDs, are amounts that many retirement plan and IRA account owners must withdraw each year.
Practice Profile: Speaking their language
Accounting Today
DECEMBER 27, 2023
CBIZ MHM's Latino-owned business service team has Southern California roots and national ambitions.
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
Stratafolio @ QuickBooks Connect 2023
Insightful Accountant
DECEMBER 27, 2023
Stratafolio is an online software solution designed specifically for people who own or manage commercial real estate, use QuickBooks, and want to streamline their operations to save time, increase profits, and reduce manual work.
Do This When Your Marketing Isn’t Working
Ryan Lazanis
DECEMBER 27, 2023
Using various marketing tactics and resources sometimes won't guarantee results. As such, you need to consider this strategy. The post Do This When Your Marketing Isn’t Working appeared first on Future Firm.
IRS Issues Guidance on Tax Credit for Clean Hydrogen Production
CPA Practice
DECEMBER 27, 2023
The Treasury Department and Internal Revenue Service issued proposed regulations just before Christmas for the tax credit for the production of clean hydrogen. The Inflation Reduction Act (IRA) of 2022 provides a production credit for each kilogram of qualified clean hydrogen produced by a taxpayer at a qualified clean hydrogen production facility. The credit amount is dependent on the emissions intensity of the hydrogen production process and the taxpayer’s compliance with prevailing wage and a
Shutting Down Your Tech Company? Here’s What You Need to Know
Shay CPA
DECEMBER 27, 2023
If you’ve run out of runway and you’re out of options, it might be time to hang up your hat. Don’t fling it onto that hat rack just yet, though. Before you can shut down a tech company (or any company, for that matter), you need to take certain steps. Failing to follow the proper procedures can lead to headaches down the road. We’ve even seen founders have issues crop up years after they shuttered a company.
Recruit and Retain New Blue-Collar Talent
Advertiser: Paycor
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.
Wrong Size? Retailers on Track to See $743 Billion in Merchandise Returns for 2023
CPA Practice
DECEMBER 27, 2023
Retailers have been focused on efforts to mitigate returns, as total returns for the industry amounted to $743 billion in merchandise in 2023, according to a report released today by the National Retail Federation and Appriss Retail. As a percentage of sales, the total return rate for 2023 was 14.5%. According to the report, for every $1 billion in sales, the average retailer incurs $145 million in merchandise returns.
Leverage digital tools to enhance sustainability reporting
Accounting Today
DECEMBER 27, 2023
In the quest for enhanced corporate sustainability, the integration of innovative technologies is ushering in a new era of reporting capability and transparency.
U.S. Boosts Wind Power, Sets Oil Production Record
CPA Practice
DECEMBER 27, 2023
By Kiplinger Consumer News Service , via TNS. Wind Power One beneficiary of the recent federal boost to domestic manufacturing: the wind power sector. The Inflation Reduction Act, passed last year, extends two key renewable energy tax credits through 2024, then replaces them with a slew of others, including the Advanced Manufacturing Production Credit.
In the blogs: End-of-year questions
Accounting Today
DECEMBER 27, 2023
Income equality; disclosing crypto; meetings are a waste of time; and other highlights from our favorite tax bloggers.
Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses
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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.
Home Prices Rise for 9th Straight Month
CPA Practice
DECEMBER 27, 2023
Christine Maurus Bloomberg News (TNS) Home prices in the U.S. rose for a ninth straight month, reaching a fresh record as buyers battled for a stubbornly tight supply of listings. A national gauge of prices rose 0.6% in October from September, according to seasonally adjusted data from S&P CoreLogic Case-Shiller. A seasonally adjusted measure of prices in 20 of the largest cities also rose 0.6%.
Adler 'significantly overstated' value of old debt, German watchdog finds
Accounting Today
DECEMBER 27, 2023
The residential landlord with thousands of properties across Germany has been under intense public scrutiny since October 2021.
Biden's strict hydrogen tax rules to 'loosen,' Plug Power CEO expects
Accounting Today
DECEMBER 27, 2023
Under the draft proposal from the Treasury Department, hydrogen projects would need to adhere to strict environmental requirements.
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