Going Concern

OCTOBER 19, 2023

“The number-one trend is that the candidate is in complete control…because the unemployment rate is lower in accounting and finance than it’s ever been.” That’s a quote from a Robert Half recruiter in the Talent Retention in the U.S. Accounting and Finance Profession study released a few days ago, a collab between IMA and Robert Half (and about two dozen research partners, mostly state societies).

Account 126

Account accountant accounted accounting and finance 126

Accounting Today

OCTOBER 17, 2023

The Internal Revenue Service plans to run a limited pilot test of its free online tax system in 13 states next tax season, but it will only support certain tax credits.

Tax 140

Tax 140

CPA Practice

OCTOBER 24, 2023

On your mark, get set, go! The 2024 preparer tax identification number (PTIN) renewal period for the nation’s nearly 800,000 active federal tax return preparers is now underway. All current PTINs expire on Dec. 31, 2023. Anyone paid to prepare or help prepare any federal return or claim for refund must have a valid PTIN from the IRS, which they must use as the identifying number on any returns prepared.

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tax return Tax 126

Insightful Accountant

OCTOBER 29, 2023

Breadnbeyond's Andre Oentoro's breaks down the internal communication tools that can help you and your accounting team stay on top of things without burning yourself out.

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Account accountant accounted 111

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.

Account

Accounting Today

OCTOBER 17, 2023

Young accounting and finance professionals have been seeing the highest turnover over the past two years and are most likely to leave their current jobs over the next year, according to a new report.

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Account accountant accounted accounting and finance 131

CPA Practice

OCTOBER 27, 2023

By Allison Arieff, MIT Technology Review (TNS) His official title is vice president of regulated reporting solutions. But really, Billy Scherba, CPA, is a carbon accountant. At Persefoni, a platform for climate management, Scherba works with companies to measure, manage, and disclose their contributions to climate change. Billy Scherba Carbon accountants help companies understand what data matters to their carbon footprint, how to collect that data in a consistent manner, and how to use it to ca

Account 124

Account accountant accounted Transportation 124

Going Concern

OCTOBER 20, 2023

Ed. note: A reader sent in this thought-provoking essay on their experience as a CPA. In it the author covers their introduction to accounting, the impact the pandemic had on their goals, and the all too familiar feeling of watching your peers make buckets of money in other careers while you grind away in public. If you take nothing else from it, read this quote: “I hope that individuals can work to widen the pipeline to the point that anyone who has ever even THOUGHT about pursuing the CP

public accounting 114

public accounting Account accountant accounted 114

Insightful Accountant

OCTOBER 26, 2023

Everything comes down to marketing. Balanced Awakenings' Dr. Hannah Yang provides some insights practice owners can use to help leverage their market strategies and build momentum.

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111

CPA Practice

OCTOBER 3, 2023

Starting salaries for roles in tax services are projected to increase an average of 3.6% in 2024, while audit and assurance services will see starting salaries likely go up an average of 3.8% next year, according to a CPA Practice Advisor analysis of public accounting pay data provided by specialized staffing firm Robert Half. Robert Half’s salary guide for 2024 was released on Monday, featuring starting salary projections for a plethora of roles in accounting and finance.

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public accounting Account accountant accounted 121

Withum

OCTOBER 19, 2023

The IRS announced a processing moratorium on employee retention credit (ERC) claims on September 14, 2023. As part of that press release, the IRS announced that it was planning to issue two different settlement initiatives in the coming weeks/months. The first is a settlement program for taxpayers whose ERC claims have already been processed and paid, and the taxpayers deposited the check(s).

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tax return audit auditor income tax 126

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.

Cherry Bekaert

OCTOBER 10, 2023

On September 15, 2023, the Internal Revenue Service (IRS) released proposed changes to Form 6765, Credit for Increasing Research Activities, and requested feedback, which is due by October 31, 2023. The proposed updates to Form 6765 require information like that which is required when submitting amended returns. See the Chief Counsel Memorandum issued September 17, 2021.

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Tax Start-ups Sales 115

Accounting Today

OCTOBER 19, 2023

The Internal Revenue Service is giving employers a way to rescind inaccurate claims for the Employee Retention Credit if they've fallen victim to a scam at the hands of so-called "ERC mills.

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Tax 132

Going Concern

OCTOBER 4, 2023

The Wisconsin Institute of Certified Public Accountants (WICPA) has announced — and in typical Midwestern fashion was pleased to do so — that Governor Tony Evers and the state of Wisconsin have designated November 2023 as CPA Appreciation Month. Free pizza for everyone on the governor? Not quite. In November, dozens of Wisconsin CPAs are heading to high schools throughout the state to preach the joys of a career in accounting (that’s not as sarcastic as it sounds) and inform st

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Wisconsin cpas CPA public accounting 117

Insightful Accountant

OCTOBER 22, 2023

As part of security enhancements being implemented between mid-October and the end of November 2023, Chase Bank will require all QBO and QuickBooks Desktop users to reconnect their bank connections.

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quickbooks Account accountant accounted 116

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

OCTOBER 30, 2023

The IRS said on Monday that it will allow electronic signatures to be used on certain tax forms “indefinitely until more robust technical solutions are deployed.” In addition, the agency extended until Oct. 31, 2025, the ability to use encrypted email when working directly with IRS employees to clear up tax-related issues or concerns. During the COVID-19 pandemic the IRS provided temporary relief allowing taxpayers to use digital or e-signatures on specified paper forms and filings that would or

tax return 132

tax return income tax Real Estate Tax 132

Withum

OCTOBER 3, 2023

The IRS announced on September 14, 2023 a processing moratorium on new employee retention credit (ERC) claims. This means that it will not process any newly filed ERC claims until it works through its backlog of more than 600,000 claims, which it estimates will not occur until next year. The moratorium does not mean that the IRS is shutting down the ERC program because the IRS does not have the power to do that; only Congress and the President can do that.

income tax 122

income tax audit tax return Tax 122

Anders CPA

OCTOBER 24, 2023

Startups saw a surge in seed round funding in the aftermath of the COVID-19 pandemic throughout 2021 and 2022, but accessing Series A funding rounds has proven more difficult than ever. Investor priorities have shifted and placed a new focus on profitability rather than growth. Tax partner and leader of the firm’s startup practice Dave Finklang, CPA/CGMA, MBA , examined the phenomenon in his recent article for the St.

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CPA Tax 114

Accounting Today

OCTOBER 16, 2023

The National Association of Enrolled Agents is asking the Internal Revenue Service to resume sending reminder notices immediately to non-filers and those with balances due of more than $10,000.

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Tax 132

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

Technology

Cherry Bekaert

OCTOBER 5, 2023

Accounting , fondly known as the ‘language of business,’ tells the story of how a business is performing. It is one of the oldest-known professions dating as far back as 3500 BC, when the ancient Sumerians charged royal scribes with performing record-keeping duties. (1) Fast-forward to present day and the fundamental concepts performed by modern bookkeepers and accountants remain, but functionality and performance look vastly different in the age of all things digital.

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Real Estate Account accountant accounted 115

Going Concern

OCTOBER 2, 2023

Fun number of the day: 95%. That’s the percentage of hiring managers in finance and accounting having trouble finding skilled talent according to recent Robert Half research. The figures come from a survey of hiring managers and employees from small (20-249 employees), midsize (250-499 employees) and large (500-plus employees) private, publicly listed and public sector organizations.

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accounting and finance Finance auditor Account 115

CPA Practice

OCTOBER 25, 2023

As part of its crackdown on high-income, high-wealth individuals who have not paid what they owe, the IRS said on Oct. 20 that it has recovered $160 million in back taxes so far this year. The IRS said it has collected $122 million from 100 wealthy taxpayers, in addition to the $38 million the agency collected from more than 175 other high-income earners earlier this year.

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Tax tax return Gambling Construction 131

Withum

OCTOBER 13, 2023

Capital accounts track the net equity owned by each partner in a partnership and typically include such information as initial and subsequent capital contributions, each partner’s distributive share of the profits and losses, and all distributions. Capital Accounts Beginning in tax year 2020, the IRS required partnerships to report their capital accounts on Schedule K-1, Item L, partners’ capital account analysis using the tax basis.

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Tax Account accountant accounted 115

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Anders CPA

OCTOBER 23, 2023

Anders is proud to announce that Lesley Sanchez, CPA , Audit and Assurance partner, has been named a 2023 MOCPA Woman to Watch. The Missouri Society of Certified Public Accountants (MOCPA) and the American Institute of Certified Public Accountants (AICPA) have partnered to recognize and honor outstanding women in the accounting profession through the Women to Watch Awards since 2006.

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Missouri audit public accounting CPA 111

Accounting Today

OCTOBER 10, 2023

A majority of chief audit executives and information technology audit leaders consider cybersecurity to be a top risk over the next year, but they're less concerned about artificial intelligence.

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auditor audit Technology 130

Cherry Bekaert

OCTOBER 3, 2023

In the latest episode of our Risk & Accounting Advisory podcast, Neal Beggan , Risk Advisory Leader, and key leaders from Cherry Bekaert’s Risk Advisory SOX practice, Gareth Montague-Smith and Peyton Black , discuss the concept of SOX “Lite,” a controls diagnostic service for smaller or private companies that can help prepare companies to go public, help remediate material weaknesses or significant deficiencies, provide efficiencies for companies facing difficult audits and more.

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audit Account accountant accounted 115

Going Concern

OCTOBER 25, 2023

As you may already know the 2023 AICPA Trends report is out , here’s our earlier write-up on how many accounting degrees were completed for the 2021-22 period covered in the new report (saving you a click: it’s 65,035). Today we’re going to look at CPA exam candidate numbers. In a vacuum the 2022 numbers aren’t terrible — 30,251 new CPA candidates, 67,336 unique CPA candidates, and 18,847 CPA candidates who passed their 4th section that year.

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CPA accounting degree cpas Start-ups 111

Advertisement

"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.

cpa firm

CPA Practice

OCTOBER 9, 2023

By Joy Taylor, Kiplinger Consumer News Service (TNS) The Supreme Court’s new term started October 2. There are some interesting cases on its docket. Two could majorly change the tax landscape. First, is taxing unrealized income valid? This has come up in a case in which a couple who are minority owners of an Indian corporation were charged the repatriation tax.

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Tax Washington income tax tax return 131

Withum

OCTOBER 26, 2023

Once upon a time, property insurance renewals were an annual formality. They often consisted of a brief conversation, a review of a property listing, and a moderate 2%-4% increase in valuation to account for inflation. These valuations and renewals have instead become increasingly consequential today. A property insurance appraisal of building and equipment assets performed by an experienced, independent third party can be key in this preparation.

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Construction Hospitality Account accountant 111

Insightful Accountant

OCTOBER 17, 2023

By extending Analytics Warehouse, NetSuite hopes to help customers gain greater and faster value from their data. Companies are using the newly enhanced AI-powered features of NSAW to simplify data management and access greater insights.

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NetSuite 111

Accounting Today

OCTOBER 20, 2023

The Internal Revenue Service is making improvements to its online tax professional accounts and hiring more accountants as it ramps up enforcement.

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tax accountant business tax Tax audit 143

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

Finance