Canopy Accounting
JANUARY 12, 2024
Some people say that comfort is the enemy of growth — and we tend to agree. As accounting plays a more central role in daily business operations, complacency and relying on old skills won’t serve accounting professionals well. Even the most seasoned accountants should still seek out opportunities to expand their knowledge and challenge assumptions.
MyIRSRelief
JANUARY 12, 2024
An Offer in Compromise (OIC) is a lifeline for taxpayers who are unable to pay their tax debt in full. It’s an agreement between a taxpayer and the Internal Revenue Service (IRS) that settles the taxpayer’s tax liabilities for less than the full amount owed. However, getting an OIC accepted by the IRS is not a walk in the park. The IRS accepts only a fraction of the OIC applications it receives each year.
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Accounting Today
JANUARY 12, 2024
The Internal Revenue Service reported progress Friday on its efforts to increase its audits of large corporations, complex partnerships and high-income individuals, collecting over half a billion dollars from millionaires who didn't pay their taxes.
CPA Practice
JANUARY 12, 2024
As millions of Americans prepare to start filing their taxes, and thousands of tax professionals prepare for one of their busiest seasons of the year, the U.S. Congress still lacks an annual appropriations bill to fund the government. If legislators fail to reach a funding agreement by Feb. 2, or at least agree on a short-term funding measure, the federal government could shut down.
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.
Accounting Today
JANUARY 12, 2024
Hunter Biden may face trial this summer in the middle of his father's election campaign after pleading not guilty to charges that he failed to pay taxes on millions of dollars in income from foreign businesses.
Going Concern
JANUARY 12, 2024
Obligatory /s Reuters , just moments ago: A U.S. federal government shutdown in coming weeks would likely disrupt the soon-to-start tax filing season for 2023 income, the head of the Internal Revenue Service said on Friday, even as the agency takes some steps to ensure that tax collections continue. “We have experienced shutdowns before. We have not experienced shutdowns in the middle of filing season.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Randal DeHart
JANUARY 12, 2024
Tax season can be a bit overwhelming for construction business owners, especially with many things to keep track of in our industry. But don't worry; we're here to help! We know that construction businesses have unique tax considerations that can be tricky to navigate, such as complex accounting and bookkeeping challenges and issues related to payroll and sales taxes.
GrowthForceBlog
JANUARY 12, 2024
5 min read Most business leaders are accustomed to outsourcing non-core aspects of their businesses to third-party providers. For example, hiring a marketing agency, law firm, or bookkeeper to assist with these non-central aspects of running a successful business is commonplace.
Accounting Today
JANUARY 12, 2024
In a change that may affect financial advisors and tax professionals' clients, the agency reversed course on a position it took seven years earlier.
Withum
JANUARY 12, 2024
What is a PPA? A Purchase Price Allocation (“PPA”) is a financial accounting process that takes place after a business acquisition or merger. It involves the allocation of the purchase price to the acquired company’s tangible and intangible assets. The purpose of a PPA is to determine the fair value of the acquired assets and liabilities, which is essential for accurate financial reporting.
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.
Accounting Today
JANUARY 12, 2024
Research shows mandatory overtime backfires.
AccountingDepartment
JANUARY 12, 2024
We are thrilled to announce that Episode 10 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.
Withum
JANUARY 12, 2024
DOL CAP Audit Series Having learned the possible reasons for your Union’s selection for a CAP audit , you are ready to proceed to the next section, which outlines the steps involved in the audit process. CAP audits generally begin with a phone call from the investigator to a union official to discuss arrangements for the audit. This is usually followed up by a letter outlining the following: The arrangements discussed for the onsite audit and interviews Information to be provided at the opening
Ronika Khanna CPA,CA
JANUARY 12, 2024
There comes a time for many small businesses or self employed workers when they decide that their current accounting system is no longer working for them. This can be stressful as learning any new software is often tedious and more importantly you have to ensure proper continuity and a smooth transition. Small businesses might decide to transition to a new accounting software for a variety of reasons: You are currently using spreadsheets which have become difficult to manage Your spreadsheets do
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.
Withum
JANUARY 12, 2024
It is Withum’s longstanding belief that the Firm’s greatest asset is its people. To ensure a prosperous and longstanding career with the Firm, Withum intentionally implements programs that foster a culture rooted with an Employer of Choice focus. It is the Firm’s mission to be a place where underrepresented talent and emerging professionals can show up to work every day as their authentic selves.
LSLCPAs
JANUARY 12, 2024
(This rule impacts your 2024 business filing. It is not part of your tax return.) Why is this happening? As of January 1, 2024, newly formed entities will have to report beneficial ownership to FinCEN (Financial Crimes Enforcement Network). FinCEN is a bureau of the U.S. Department of the Treasury. “… the rule will enhance the ability of FinCEN. The post Are You Forming a New Company in 2024?
CPA Practice
JANUARY 12, 2024
Grant Thornton LLP, one of America’s largest audit, tax and advisory firms, has released its fifth annual Environmental, Social and Governance (ESG) Report , which highlights the firm’s progress toward achieving key milestones in its sustainability goals and diversity, equity and inclusion (DE&I) aspirations. The report describes how Grant Thornton submitted its updated greenhouse gas (GHG) emissions reduction targets to the Science Based Targets initiative for validation and developed a ro
Withum
JANUARY 12, 2024
DOL CAP Audit Series Having learned the possible reasons for your Union’s selection for a CAP audit , you are ready to proceed to the next section, which outlines the steps involved in the audit process. CAP audits generally begin with a phone call from the investigator to a union official to discuss arrangements for the audit. This is usually followed up by a letter outlining the following: The arrangements discussed for the onsite audit and interviews Information to be provided at the opening
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
Cherry Bekaert
JANUARY 12, 2024
2024 Outlook at a Glance Increased demands for adaptability, innovation/technology, unique customer experiences and security. Where We’ve Been and Where We’re Headed 2023 began with an intense period of uncertainty, led by the collapse of Silicon Valley Bank and the revelation of questionable financial decisions hiding in plain sight in some bank’s portfolios.
FraudFiles
JANUARY 12, 2024
When the Internal Revenue Services suspects that a taxpayer has unreported income, the agents can use one of several methods to uncover that income. These methods can also be used to help calculate hidden income in a divorce or child support case. One such method used to determine unreported income is the bank deposits method, [.
Accounting Today
JANUARY 12, 2024
Gotham City Research criticized the Spanish blood-plasma company's accounting and corporate governance.
CPA Practice
JANUARY 12, 2024
Estate planning is vital for most people, but it is especially important for families with a disabled child. If you’re the parent, your primary objective is probably to ensure that the child’s needs will be met throughout their lifetime. However, you will also want to preserve a portion of your wealth for any other children you have. One technique that may be appropriate is to establish a “special needs trust” to supplement public assistance benefits.
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.
Accounting Today
JANUARY 12, 2024
Plus, Intuit adds TurboTax to Credit Karma and QuickBooks; FreshBooks introduces payroll capacities; and other accounting tech news.
Going Concern
JANUARY 12, 2024
Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. And take our 2024 Predictions for the Accounting Profession survey ! Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.
Accounting Today
JANUARY 12, 2024
Wilkin & Guttenplan appoints next managing shareholder; Hartman Wanzor rebrands; and more news from across the profession.
CPA Practice
JANUARY 12, 2024
Intuit Inc. , the technology company that makes Intuit TurboTax , Credit Karma , QuickBooks , and Mailchimp , has integrated TurboTax into Credit Karma and QuickBooks Online, allowing customers to prepare and file their 2023 taxes within those programs’ interfaces. Intuit says that TurboTax delivers a suite of full service , assisted , and DIY tax preparation offerings for individuals, families, and small businesses to serve customers however they want to file and where they are most comfortable
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Accounting Today
JANUARY 12, 2024
You may have plenty of work, but is it the right kind of work?
Menzies
JANUARY 12, 2024
Menzies LLP - A leading chartered accountancy firm. Since new rules came into force which concern the expansion of information provided to HMRC by online platforms, the question of whether someone is ‘trading’ or not has come into focus once again. Given income arising from a trade is taxable in the UK, and tax legislation inadequately defines what constitutes a trade, it is important for taxpayers to understand whether they might be considered as trading or not.
CPA Practice
JANUARY 12, 2024
Randy Johnston and Brian Tankersley, CPA, discuss technologies presented at the the 2023 Thomson Reuters Synergy user conference. Use the podcast player below to listen. Transcript (Note: There may be typos due to automated transcription errors.) SPEAKERS Randy Johnston, Brian F. Tankersley, CPA.CITP, CGMA. Intro: Welcome to the technology lab presented by CPA Practice Advisor with your hosts, Randy Johnston and Brian Tankersley.
Accounting Today
JANUARY 12, 2024
The judge must decide if Trump intentionally inflated his annual financial statements by billions of dollars a year.
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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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