Thu.Jan 04, 2024

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Managing stress for tax professionals

ThomsonReuters

Jump to: 1. Make a personal stress inventory 2. Automate what you can 3. Delegate or outsource where you can 4. Schedule downtime – and don’t skip it 5. Take advantage of wellness benefits The numbers are in, and they reinforce the mental health challenges facing accountants. Nearly 9 in 10 accountants want a better work-life balance, while just over 70 percent would like more help from their organizations to manage mental health, according to ACCA’s Global Trends Survey

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Will Businesses Decrease Remote Workers in 2024?

CPA Practice

By Don Lee, Los Angeles Times (via TNS). These days, it looks like the bloom is coming off the rose for remote work : Many employers are talking tougher. New research shows employees are actually less productive when they work from home full-time. And, with the tight job market starting to slacken, some predict 2024 will be the year employers finally clamp down.

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Victoria Iezzi Trailblazing Leader in Women’s Health and Femtech

Withum

Withum is proud to share that Victoria Iezzi has been named a Trailblazing Leader in Women’s Health and FemTech for 2023. Women of Wearables is an organization that brings together women in wearable technology. Their 200 Trailblazing Leaders in Women’s Health and FemTech celebrates leaders in the industry who have excelled and made significant contributions to innovative solutions for women’s health.

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To No One’s Surprise Except the AICPA’s, AICPA Membership Is Falling

Going Concern

FT ‘s Stephen Foley has written an opinion piece for, you guessed it, FT on the profession’s deadest of horses: the accountant shortage. Rather than rehashing bits of information that have been repeated ad nauseam for the last two years in the reputable accounting press and the last ten here at Going Concern, I’d like to call your attention to this bit of information: Membership of the American Institute of Certified Public Accountants, the US professional body, fell from 430,0

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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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Navigating ERC Tax Audits and Investigations

Withum

Withum and Kostelanetz LLP collaborate to break down ERC tax audits. The employee retention credit (ERC) has exploded in recent years and the IRS has started cracking down on improper and abusive ERC claims. The IRS audit process can be time consuming and expensive, and the complexity of the ERC makes these audits particularly vexing to taxpayers. In this article, Withum Partner Daniel Mayo collaborates with Kostelanetz LLP Partner Chris Ferguson to break down ERC audits and to discuss winning s

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Google Reaches Deal in Billion Dollar Lawsuit Over Data Collection During “Private Browsing”

CPA Practice

By Ethan Baron, The Mercury News (via TNS). Google has reached a deal in a class-action lawsuit accusing it of making an Orwellian grab of “potentially embarrassing” data from tens of millions of people using the company’s “Incognito mode” and other private browsing, according to a court filing. The three Californians and two others who sued the Mountain View digital-advertising giant on behalf of themselves and legions of other internet users in 2020 claimed the firm captured the data despite s

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A Financial Controller May Be Just What You Need, And More

AccountingDepartment

While planning for 2024, the question of whether or not it's time to hire a financial controller may come up for many business owners. To help make that decision easier, this article explains the duties of a financial controller and the benefits of partnering with an outsourced accounting provider, rather than trying to find a controller of your own.

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Newman’s Own Satisfies Hunger for Efficiency with NetSuite

Insightful Accountant

Don't know about you, but I'm a fan of Newman's Own Balsamic Vinaigrette. Newman's Own is leveraging NetSuite to reduce operational costs, improve productivity to donate more after-tax proceeds to charity.

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Private sector added 164K jobs in December as annual pay grew

Accounting Today

The service-providing sector added 155,000 jobs, including 1,000 in professional and business services.

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Accounting Trends That Business Owners Can't Ignore in 2024

AccountingDepartment

Accounting is a critical aspect of any organization, and keeping up with the latest trends and technologies in this field is essential to ensure that businesses remain competitive and successful. As we enter 2024, there are a few key trends that business owners simply cannot ignore. In this blog post, we will explore these trends in detail, discussing how they will impact the industry and what businesses can do to stay ahead of the game.

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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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IRS signs $32M deal for data delivery services

Accounting Today

The contract will provide development support to two mission-critical systems at the agency.

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Tax planning strategies to start the new year with

ThomsonReuters

Jump to: Utilize short-term staffing solutions Incorporate AI and automation into your workflow Become a strategic advisor As accounting firms usher in 2024, it’s important to take a fresh look at the business landscape — both its challenges and its opportunities — to best prepare for the year ahead. With so much change inside and outside the profession, now is the perfect time to reflect on your goals, how they’ve changed, and what you can do to incorporate new learnings to make this your

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Tax Fraud Blotter: Let the chips fall

Accounting Today

Fictions and ghosts; Indian connection; pulled over; and other highlights of recent tax cases.

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3 Downloadable Guides to Managing the Change to QuickBooks Online

Insightful Accountant

As an accounting practice grows, it must adapt to meet clients' needs. This includes assessing technology requirements for both the firm and clients.

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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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3 Tax-Smart Tactics for Clients With $1 Million or More in Tax-Deferred Investments

CPA Practice

By Joe F. Schmitz Jr., CFP, ChFC, Kiplinger Consumer News Service (TNS) I once had a guy reach out to me who said, “Joe, I’ve been reading your book, watching your videos and reading your articles. I’m ready to trust your team with the $1 million in my 401(k) that I’ve saved over the last 30 years.” This was a big moment for him, and he had done a great job up to this point.

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Can E-invoicing help small business David’s in their ongoing battle against industrial Goliaths?

Menzies

Menzies LLP - A leading chartered accountancy firm. The UK’s “David”s (representing our SMEs) fight a constant and punishing battle against the big-business Goliaths, who seemingly make up their own rules when it comes to payment terms and settling trading debts. This puts huge pressure on cash flow and the general working capital requirements of these SME businesses, who typically suffer higher borrowing costs to cover the funding gap, when compared to those big businesses, who cause these prob

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Grant Thornton Supports Global Climate Reporting Standard

CPA Practice

The global consulting and accountancy firm Grant Thornton has issued a statement in support of a standard for global climate reporting. “Grant Thornton is pleased to support the IFRS Foundation in their push for a common global standard for climate-related disclosures,” said Trent Gazzaway , global leader of service line capabilities and quality at GTIL, of our network’s commitment to advance the International Sustainability Standards Board’s climate-related reporting.

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Promotion Watch ’24: Moss Adams Adds 20 Partners to the Roll

Going Concern

My gosh that’s a firm handshake. Hey, it’s the first partner promotions of 2024! Moss Adams announced via press release on Monday that 20 of its people successfully made the long crawl up the ladder to make partner. The class of 2024 is 44% smaller than that of 2023 when 36 people at Moss Adams earned their stripes. “The new class of partners and directors comes after another year of growth as Moss Adams expanded and augmented its services,” said the firm.

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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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Wolters Kluwer offers beneficial ownership reporting solutions

Accounting Today

The company has introduced two options to help companies comply with the new requirements of the Corporate Transparency Act.

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Measuring the Impact of Holiday Sales on Small Businesses

CPA Practice

By Dave Charest. The holidays are big business. That’s not going to come as a shock to anybody — but, just how important are they to America’s economy? The latest figures from Adobe Analytics show that from November – December 2023, during which people celebrate Hanukah, Christmas, New Years, and other holidays, Americans spent more than $222 billion (yes, billion!

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On-Demand Webinar: Year-End Healthcare Tax and A&A Update

Withum

Already registered? Click Here Listen in as John Smith and James Trubenbach-Byrne discuss in this timely webinar how to ensure your healthcare organization is prepared for all the year-end tax accounting and auditing qualifications. From the tax side, John will provide a 2023 annual update on year-end employer payroll tax and 1099 reporting, including developments from both the Federal and state and local levels.

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U.S. Businesses Added 164,000 Jobs in December, Says ADP

CPA Practice

By Augusta Saraiva, Bloomberg News (via TNS). U.S. companies ramped up hiring in December, suggesting there’s still appetite for workers in a cooling labor market. Private payrolls increased 164,000 last month after a revised 101,000 gain in November, according to figures published Thursday by the ADP Research Institute in collaboration with Stanford Digital Economy Lab.

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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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Meet 25 2023 Up-N-Coming ProAdvisor: Travis Zornoza

Insightful Accountant

We sat down with Travis to get his thoughts on being a Top 25 Up-N-Coming ProAdvisor, his journey, path to success, and passion to empower businesses to navigate their way toward profitability through American Sign Language.

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Minimum Wage Increases in 22 States in 2024

CPA Practice

By Robert Higgs, cleveland.com (via TNS). Higher minimum wages that kicked into effect with the start of 2024 will boost minimum hourly pay in some states as high as $16.28, benefiting as many as 10 million workers. About 9.9 million workers will be paid nearly $7 billion more a year in annual wages, according to the Economic Policy Institute, a left-leaning research group.

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Unlocking the Tax Maze: Navigating Changes in UK Property Laws for Non-Residents

Menzies

Menzies LLP - A leading chartered accountancy firm. The historical ability for non-residents to avoid UK tax on property sales and potentially benefit from reduced stamp duty has undergone significant changes. Recent times have seen the erosion of many benefits for non-resident investors, with an expanded scope of taxation on their gains. This article, by Richard Turner explores the complexities of navigating Capital Gains, Stamp Duty Land Tax (SDLT), and Annual Tax on Enveloped Dwellings (ATED)

Tax 52
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DataSnipper and Validis Partner for Audit Efficiency

CPA Practice

The automation platform DataSnipper has partnered with on-demand accounting data provider Validis to offer auditors a seamless end-to-end audit testing process. DataSnipper, when integrated with Validis, delivers one audit test workflow to drive significant audit quality and efficiency. Validis provides instant access to financial data provided by the ERP systems from an audit client and structures the data into usable reports with the ability to extract the structured data as an Excel file.

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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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7 Reasons Why Shopify Should Be Your Go-To Commerce Companion

Inform Accounting

Starting a business from scratch or eyeing a new commerce partner? The options might be overwhelming, but let us introduce you to the Shopify magic. Here are seven stellar reasons why Shopify could be the perfect fit for your brand!

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2024, the year gen AI rockets to wide use for investment accounting teams

Accounting Today

Here are several trends that are set to shape the investment accounting space and the end-to-end investment process this year.

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Unleash Your Brand Everywhere, Sell Anytime, Anywhere with Shopify!

Inform Accounting

Ready to turn your brand vision into a vibrant commerce experience? Look no further than Shopify – your ultimate sidekick for selling to the right customers, whether it's in the digital realm, the physical world, or anywhere in between.

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Suspended Altice executive leaves Drahi's telecom empire

Accounting Today

The 49-year-old ran the group's Portuguese unit when the alleged acts of corruption, money laundering and tax fraud took place.

Tax 54
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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.