Accounting Today
JANUARY 22, 2024
Managing employees can be a major roadblock for growing businesses, but PEOs can help, and ADP's Kristen Appleman explains how they work and when they might be a good fit.
ThomsonReuters
JANUARY 22, 2024
Jump to: Enhanced Child Tax Credit Business tax relief Support for small business Employee Retention Tax Credit (ERTC) Adjustments to 1099-MISC and 1099-NEC filing thresholds Support for affordable housing Empowering American families and businesses: The Tax Relief for a stronger future On January 19, 2024, the Ways and Means Committee made a significant bipartisan move by approving the Tax Relief for American Families and Workers Act of 2024.
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Accounting Today
JANUARY 22, 2024
The Internal Revenue Service has revised the question it has asked in recent years about income from digital assets such as cryptocurrency on the Form 1040 for individual taxpayers this tax season and added it for the first time to tax forms for estates, trusts, partnerships and C and S corporations.
inDinero Accounting
JANUARY 22, 2024
Terms like “deferred revenue” can confuse non-accountants, but the concept is easy enough. Deferred revenue refers to when customers pay upfront for products or services they will receive later while your accountant recognizes that income over time rather than all at once. In this article, we’ll explain the GAAP-compliant method of reporting deferred revenue, provide bookkeeping examples, and explain how the practice will impact your taxes.
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.
CPA Practice
JANUARY 22, 2024
The American Institute of CPAs (AICPA) submitted a letter to the U.S. Department of the Treasury and Internal Revenue Service (IRS) this week in response to initial guidance issued related to changes made to catch-up contributions enacted in the SECURE 2.0 Act of 2022. SECURE 2.0 requires certain catch-up contributions to be made as Roth IRA deferrals.
Patriot Software
JANUARY 22, 2024
Patriot Software, a national accounting and payroll software company, has released its Small Business Payroll Index, which will be published monthly. This index represents the monthly percentage change in the number of workers who were added to or removed from Patriot’s payroll software.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Canopy Accounting
JANUARY 22, 2024
Learn everything there is to know about tax resolution in this ultimate guide and if it's something you should offer to your clients. See details!
KROST
JANUARY 22, 2024
LOS ANGELES, CA [January 23, 2024] – KROST CPAs and Consultants has been named one of the Top 150 Firms for 2023-2024 by CalCPA. This award recognizes the firm as 33rd on the list. The recognition reflects KROST’s dedication to professional development and the CalCPA organization, with 100% membership. KROST is committed to providing clients Read the full article.
Insightful Accountant
JANUARY 22, 2024
We told you that on or shortly after January 20, we would ask you to reopen your 2024 ProAdvisor Awards application to take advantage of additional training and certification opportunities. now is the time for you to do that.
Accounting Today
JANUARY 22, 2024
The Institute of Management Accountants is aiming to help businesses find more accounting talent in 2024, as demand for young people to succeed retiring accountants continues to grow, and organizations look for ways to incorporate artificial intelligence and sustainability into their operations.
Advertiser: Paycor
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CPA Practice
JANUARY 22, 2024
Networking is essential for every accountant, and in the digital age, it’s easier than ever to make valuable connections in the field. While in-person events and meetings are still effective ways to network, many professionals are taking advantage of online networking opportunities. In fact, 40% of professionals say they network more online than in person.
Accounting Today
JANUARY 22, 2024
The IRS and Labor Department issued guidance on the new savings vehicles, but financial advisors and other wealth management professionals have questions.
Withum
JANUARY 22, 2024
In the life sciences sector, the journey from research to a marketable product often spans several years. During this phase, entities typically accrue substantial Net Operating Losses (NOLs), earmarked to counterbalance future taxable income. A pivotal change emerged on January 1, 2022. Research and Experimentation (R&E) expenditures, once directly deductible, now must be capitalized for tax purposes.
Accounting Today
JANUARY 22, 2024
MahoneySabol merged in Giamalis; and Wagner, Duys & Wood combined with Kaplan Company to form Wagner, Kaplan, Duys & Wood, LLP.
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.
CPA Practice
JANUARY 22, 2024
A top midtier accounting firm ended 2023 by having the most new initial public offering (IPO) audit clients in the fourth quarter, as the number of companies going public dropped compared to the previous quarter, according to an analysis by Ideagen Audit Analytics. The final quarter of 2023 saw 40 new IPOs, raising a total of $4.2 billion—down in total IPOs from Q3 (45) and total proceeds ($9.2 billion).
Going Concern
JANUARY 22, 2024
In the working paper “Beyond AI Exposure: Which Tasks are Cost-Effective to Automate with Computer Vision?” [ PDF ] MIT researchers with funding from MIT-IBM Watson AI Lab looked into the potential for serious labor disruption due to deployment of AI in certain functions that have, up until now, required humans. In less intelligent words, they wanted to figure out if robots are taking your job.
Withum
JANUARY 22, 2024
The insurance industry, much like others, is grappling with the far-reaching effects of the current labor shortage and the phenomenon termed the “Great Resignation.” A substantial drop in employment levels, down by approximately 85,000 people or 15% in the past two years, has significantly impacted the workforce. Despite this reduction, the workload has not diminished, particularly considering the surge in claims, regulatory shifts, and the broader impacts of the ongoing pandemic.
CPA Practice
JANUARY 22, 2024
Global compliance technology solutions and services provider Sovos has acquired North Dakota-based Aatrix Software, a provider of payroll tax forms, extending its offerings in compliance with enhanced capabilities across e-filing for 1099 and ACA 1095 reporting and W2/payroll reporting – increasing its local, state and federal coverage. This acquisition brings together two companies with significant experience and expertise in helping small and medium-sized businesses navigate the complexity of
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
Going Concern
JANUARY 22, 2024
Here we are again, Monday. Saw a few things floating around this weekend, perhaps we’ll get lucky and there’s lots more going on. Let’s start with this lively discussion you may have missed on Twitter (do we really have to call it X?). I don’t know about you but I love when old-timers swing by to school us on how things used to be.
Accounting Today
JANUARY 22, 2024
Archer-Daniels-Midland suspended its chief financial officer and cut its earnings outlook pending an investigation into its accounting practices.
Insightful Accountant
JANUARY 22, 2024
The U.S. Government still doesn’t have a permit budget and spending bill in place for the fiscal year that started October 1st and we are now operating under yet another temporary bill to stave off a shut down.
Reckon
JANUARY 22, 2024
Today, let’s dive into the financial lifeblood of your small business – cash flow! Poor cash flow is often cited as the biggest threat to a businesses’ stability and ability to trade, so understanding it is crucial to success. Sure, it might sound like accounting jargon, but trust me, understanding cash flow is like having a financial compass for your business.
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.
CPA Practice
JANUARY 22, 2024
By Gerson Freitas Jr. and Simon Casey, Bloomberg News (TNS) Archer-Daniels-Midland Co. plunged after the U.S. agricultural trading giant suspended its chief financial officer and cut its earnings outlook pending an investigation into its accounting practices. The shares dropped the most on record. The Chicago-based company said Sunday afternoon that Vikram Luthar, who had been its CFO since 2022, was put on administrative leave and Ismael Roig will step in on an interim basis.
Withum
JANUARY 22, 2024
Learn how Withum helped a limousine company with its corporate income tax return to claim over $150,000 in electric vehicle tax credits. Download a PDF of this case study Executive Summary A Withum client, an established limousine company experiencing significant growth, was unsure of the recent effects of new tax policies and credits that applied to them.
CPA Practice
JANUARY 22, 2024
SmartVault, a leading provider of an integrated, cloud-based document management and client portal platform, has launched its Accounting Unlimited Plan that includes unlimited usage of eSignatures, knowledge-based authentications (KBAs), storage, PDF form fills, quotes, and more. While these digital tools are traditionally priced per use, SmartVault’s Accounting Unlimited Plan offers unlimited usage at a fixed price, letting firms implement efficient digital workflows without worrying about cost
Withum
JANUARY 22, 2024
Withum’s Tech Summit Series features four sessions held throughout the year, each delving into hot topics within the tech ecosystem and providing a comprehensive exploration of the latest trends and innovations in the industry. Already Registered? Click Here View On-Demand Webinar Withum’s Technology and Emerging Growth Services Practice released its Tech Summit Series that examines trending topics in the technology industry.
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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.
CPA Practice
JANUARY 22, 2024
By Stefan Greenberg, CFP, CFS, CLTC, Kiplinger Consumer News Service (TNS) For many Americans, 401(k) and other tax-deferred retirement plans represent the lion’s share of their investable assets. After all, why wouldn’t you want to contribute as much as possible to a plan that enables you to: Make contributions on a pre-tax basis Achieve tax-deferred growth for as long as your assets remain in the plan Withdraw assets at retirement when you may find yourself in a lower tax backet Now for the pr
CTP
JANUARY 22, 2024
Behaving ethically should be a personal goal for every tax professional—but it is also required by law. To help guide you, the Office of Professional Responsibility (OPR) publishes a document called Circular 230 that covers “Regulations Governing Practice before the Internal Revenue Service.” Certain professionals, such as enrolled agents (EAs) and Annual Filing Season Program (AFSP) record holders, consent to be governed by Circular 230 as part of their status or program.
CPA Practice
JANUARY 22, 2024
A new survey from Grant Thornton LLP, one of America’s largest providers of audit and assurance, tax and advisory services, revealed how chief financial officers (CFOs) at technology companies plan to achieve growth amidst fierce competition and a slew of other challenges. The firm’s Tech CFO survey , which polled 150 senior finance executives in the technology industry, also gauged sentiment on major topics like artificial intelligence (AI), cybersecurity and the technology workforce.
CTP
JANUARY 22, 2024
What does it look like to operate ethically in the world of tax planning? Fortunately, the Office of Professional Responsibility (OPR) provides guidance on key ethical questions. Their primary resource, known as Circular 230 , covers “Regulations Governing Practice before the Internal Revenue Service.” Depending on your status and credentials, adhering to Circular 230 may even be a requirement.
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"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.
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