MyIRSRelief
DECEMBER 15, 2023
Top 10 Tax Planning Concepts for W-2 Earners As a W-2 earner, understanding tax planning concepts can help you maximize your tax savings and ensure you’re making the most of your income. Here are the top ten tax planning concepts you should know. 1. Understanding Your W-2 Form Your W-2 form is a crucial document that outlines your income and the taxes withheld from your paycheck.
CPA Practice
DECEMBER 15, 2023
Ask dozens of accounting professionals and most will agree that using accounting software is an important part of managing a business. Accounting software also simplifies tax preparation by identifying taxable income and deductions with ease. Not all small businesses are on board yet. While Codat’s Global Accounting Guide estimates that 64% of small businesses in the U.S. currently use accounting software in their business, leaving 35% of small businesses still using a manual accounting system
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Withum
DECEMBER 15, 2023
It is no secret that the pandemic forced dealerships to pivot. Conventional operating procedures, strategies, inventory management, staffing, and numerous other standard practices had to change to combat reduced inventory, staffing shortages, and increased online competition. It is only recently that we are seeing a shift back to our former standards.
Going Concern
DECEMBER 15, 2023
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. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.
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
DECEMBER 15, 2023
The IRS rolling out chatbots to help individuals with basic tax matters and key presentations on AI innovation at accounting events are among the recent developments.
Going Concern
DECEMBER 15, 2023
In case you missed this year’s Microsoft Excel World Championships, the sporting event of the year for spreadsheet wizards everywhere, the king of Excel has been crowned. For the third year in a row, Andrew Ngai wiped the floor with the competition to take the top spot as GOAT in the rows and columns. View this post on Instagram A post shared by Microsoft 365 (@microsoft365) INCREDIBLE. the Microsoft Excel championships is peak human performance pic.twitter.com/gJxDcq8irR — gaut (@0x
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
DECEMBER 15, 2023
It’s almost January, which means the 2024 income tax filing season is coming soon. Although last minute tax law changes can have an impact, the IRS usually starts accepting e-filed income tax returns in the last week of January each year. The deadline to file returns in 2024 is April 15 (this sometimes varies based on weekends or state holidays). If you’re wondering how long it may take to get your refund once you do file, you’re not the only one looking for the answer.
Accounting Today
DECEMBER 15, 2023
The Treasury is providing additional guidance on the corporate alternative minimum tax for billion-dollar companies.
Randal DeHart
DECEMBER 15, 2023
Wellness is an important aspect of life for everyone, especially construction contractors like you. Given the physically demanding nature of the work, contractors must prioritize their physical and mental health. Proper nutrition, exercise, and adequate rest are all necessary for maintaining a healthy body and mind. Additionally, taking breaks and managing stress can help prevent burnout and promote well-being.
Accounting Today
DECEMBER 15, 2023
Beginning Jan. 1, 2024, tens of millions of small businesses must comply with the Corporate Transparency Act by filing beneficial ownership information reports.
Advertiser: Paycor
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Insightful Accountant
DECEMBER 15, 2023
The IRS has released the 2024 standard mileage rates for business, medical, and charitable purposes. Taxpayers can choose to use these rates or calculate actual costs.
Accounting Today
DECEMBER 15, 2023
The new deduction rates apply to electric and hybrid vehicles, as well.
AccountingDepartment
DECEMBER 15, 2023
We are thrilled to announce that Episode 8 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.
Accounting Today
DECEMBER 15, 2023
After Cetera's parent closed the acquisition of the tax-focused wealth management firm last month, departing executives received significant bonuses.
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
DECEMBER 15, 2023
By Jessica Hill, Las Vegas Review-Journal (TNS) Sen. Catherine Cortez Masto, D-Nev., reintroduced a bill Thursday aiming to build a domestic supply chain for rare earth magnets. The Rare Earth Magnet Production Tax Credit Act, introduced alongside Sen. Markwayne Mullin, R-Okla., would provide a $20 per kilogram production tax credit for rare earth magnets made in the United States.
Accounting Today
DECEMBER 15, 2023
Plus, StanfordTax adds AI to client organizers; Bill Spend & Expense adds features; and other news and information from the accounting technology world.
Menzies
DECEMBER 15, 2023
Menzies LLP - A leading chartered accountancy firm. Comments from Freddy Khalastchi, Business Recovery Partner at Menzies LLP Sluggish consumer spending and mounting cost pressures are placing immense pressure on retailers, causing cashflow difficulties and an alarming surge in insolvency cases. Taking a proactive approach to financial management will be crucial to survival through this period and into the new year.
Accounting Today
DECEMBER 15, 2023
NATP appoints 2024 board of directors; MaloneBailey launches corporate valuation consulting practice; and more news from across the profession.
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
Menzies
DECEMBER 15, 2023
Menzies LLP - A leading chartered accountancy firm. ESG at a glance ESG – a term heard almost everywhere nowadays, but what is it? ESG stands for Environmental, Social and Governance. Environmental being a businesses impact on nature and the planet. Social being a businesses impact on people within and outside the business and the final piece is Ethics and Corporate Governance.
Accounting Today
DECEMBER 15, 2023
Haslam contends Pilot Travel executives installed by Warren Buffett have changed quarterly-earning accounting methods in a way that will cut the value of his holdings by $1.2 billion if the Tennessee-based billionaire elects to sell Buffett his remaining stake.
Going Concern
DECEMBER 15, 2023
The PCAOB recently approved a $384.7 million budget for 2024 , an 11 percent increase over 2023, and just needed to get approval from the SEC. It was assumed this wouldn’t be a problem, though it was equally assumed that resident contrarian Hester Peirce would have some s**t to say about it. And she did. SEC Chair Gary Gensler said in his Wednesday statement he supports this $385 million budget and its accompanying “modest two percent increase in headcount” because of “th
Accounting Today
DECEMBER 15, 2023
Young people with accounting doctoral degrees are encountering discrimination during job searches and discussions on online forums, according to a new study.
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.
Menzies
DECEMBER 15, 2023
Menzies LLP - A leading chartered accountancy firm. Chris Maloney – Advisory Partner A business must have customers to succeed, right? Well yes, of course, but business owners should be asking whether these are the right type of customer. This is a question that should certainly go beyond the obvious “do they pay on time?” and the focus should be on further criteria in order to define ‘what makes an ideal customer’ in order to ultimately drive business value.
Accounting Today
DECEMBER 15, 2023
GE legal and accounting teams were investigating how accurately the turbine sales were reflected on the company's books.
CPA Practice
DECEMBER 15, 2023
Discover how Clockwork helped Reconciled, a full-service virtual bookkeeping firm, expand its advisory services and boost efficiency without hiring more staff. Learn about Reconciled’s journey from a traditional bookkeeping firm to a forward-thinking leader in advisory services. Explore the challenges Reconciled faced in expanding its advisory services and how they overcame them.
Cherry Bekaert
DECEMBER 15, 2023
During this session, we will bring you up-to-date on the latest developments affecting nonprofit organizations from a tax perspective. In particular, we’ll highlight guidance received in connection with provisions enacted as part of recent legislation. Topics will also include: other guidance issued by the IRS and updates to the IRS’ strategic plans.
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Withum
DECEMBER 15, 2023
On November 29, Withum hosted team members, clients and business partners from the San Francisco community to unveil its redesigned office space. The San Francisco office is located at 601 California Street, just outside of Union Square. Situated in the heart of the Bay Area financial district, the office features stunning views of Coit Tower and the Bay.
Canopy Accounting
DECEMBER 15, 2023
The world of accounting has come a long way from the days of dusty ledgers and manual calculations. Evolving technologies and new digital tools — including artificial intelligence, data analytics, and forecasting tools — have changed the way accountants work. And to meet today’s client expectations, it’s essential for companies to keep up with the times.
Cherry Bekaert
DECEMBER 15, 2023
Gain insights on the new standards for 2023 reporting. During this webinar we will discuss the newly effective accounting standards for the December 31, 2023, reporting period as well as the accounting standards that were issued in 2023. After attending this webinar, you will be able to identify and describe the impact the new standards will have on your organization and prepare for adoption.
Accounting Today
DECEMBER 15, 2023
Under Development; lack of security; CI at work; and other highlights of recent tax cases.
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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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