CPA Practice

SEPTEMBER 5, 2023

Joseph Graziano, CFP®. Accountants are part of an evolving industry where 82% of accountants agree that client expectations have widened. If you’re behind the trends, you risk becoming “obsolete.” Clients may still need your services, but they want an accountant to go the extra mile for them. Preparing for tomorrow can help you situate your firm to be: Streamlined Profitable today and in the future Sellable in the future (if that’s something you ever consider) You can begin prepping for the futu

Account 135

Account accountant accounted accounting and finance 135

Withum

SEPTEMBER 14, 2023

The IRS continues to pound the table with its most recent press release on employee retention credit (ERC) claims. On September 14, 2023, the IRS announced a moratorium on processing new ERC claims until at least 2024. It wants to “protect against fraud but also to protect the businesses from facing penalties or interest payments stemming from bad claims pushed by promoters.

audit 126

audit Tax 126

Going Concern

SEPTEMBER 22, 2023

Here we are again talking about the accountant shortage. Don’t blame me, blame WSJ. Mark Maurer at Wall Street Journal wrote today about a young man named Omer Khokhar who realized after six years in accounting that he was done. The article title: “Job Security Isn’t Enough to Keep Many Accountants From Quitting.” Ruh-oh. The New York resident found accounting work monotonous, with little room for creativity or growth, and maximum salaries weren’t as high as he would have liked

Account 113

Account accountant accounted CPA 113

CPA Practice

SEPTEMBER 7, 2023

A new report from Xero , the global small business platform, shows that 48% of U.S. small business owners have experienced an extreme or high impact from inflation on their cash flow over the past six months, and 44% expect inflation to continue to have a similar impact throughout the next six months. Xero’s report, titled “ Money Matters: The impact of economic conditions on the cash flow of US small businesses “, interviewed more than 500 small business owners across the United States on the

accounting software 124

accounting software Technology Account accountant 124

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

Withum

SEPTEMBER 11, 2023

It’s that time of year when extended pass-through business returns are being finalized, and owners are beginning to receive their K-1s. If you are one of those owners, have you ever looked at your K-1? Do you know what information is being provided to you? To move forward on explaining your K-1, we first must take a step back. Businesses that are structured as LLCs (that haven’t elected C status), partnerships or S corporations are all considered pass-through entities.

tax return 124

tax return income tax Healthcare Tax 124

Accounting Today

SEPTEMBER 11, 2023

The Big Four firm plans to stop offering some types of services to SEC-registered audit clients, and to cut the compensation of top leaders if the firm's audits fall short on quality.

audit 127

audit Account accountant accounted 127

Cherry Bekaert

SEPTEMBER 20, 2023

On September 14, 2023, the Internal Revenue Service (IRS) announced an immediate moratorium on the processing of new Employee Retention Credit (ERC) claims until at least 2024. This pause in processing claims should not deter any employer from determining if it qualifies as an employer eligible to claim the ERC, documenting its eligibility, calculating the credit or filing an amended Form 940X to claim the appropriate credit.

Government 124

Government audit 124

Going Concern

SEPTEMBER 11, 2023

Deloitte Australia’s 1,000 or so partners gathered in Adelaide at the end of August and according to Sydney Morning Herald reporting ahead of the totally-business-and-not-pleasure gathering, it was absolutely in no way whatsoever a party. Per Deloitte themselves. Consulting giant Deloitte is holding a big partner bash from Thursday, flying in more than 1000 partners and nearly booking out a couple of five-star hotels in town.

Government 128

Government Tax 128

CPA Practice

SEPTEMBER 12, 2023

Big 4 accounting firm Deloitte and Bitwave, an enterprise accounting platform for digital assets, have announced a strategic alliance that brings together Bitwave’s software platform with Deloitte’s accounting, tax and governance, risk and controls advisory services, to help deliver speed and process efficiencies, cost savings and compliance enhancements to businesses that utilize digital assets.

Account 131

Account accountant accounted accounting principles 131

Withum

SEPTEMBER 28, 2023

Tax Planning Checklist for New Law Firm Partners Understanding the intricacies of tax planning is essential for optimizing your financial position and ensuring compliance with relevant regulations. Utilize this Tax Planning Checklist to help navigate the complex landscape and maximize your tax benefits. Download The post From Associate to Partner: How Do Lawyers’ Taxes Change?

Tax 124

Tax tax planning 124

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

SEPTEMBER 29, 2023

The Internal Revenue Service is allowing tax practitioners to see their client's tax information, including balance due amounts, as well as withdraw from their active authorizations online in real time.

Tax 136

Tax Account accountant accounted 136

IgniteSpot

SEPTEMBER 20, 2023

In a world brimming with uncertainty, businesses are more vulnerable than ever to unforeseen financial risks. These risks can spell disaster if not effectively managed, leading to revenue losses, reputational damage, or even bankruptcy. But with the advent of virtual CFO services, businesses now have a formidable ally in their corner. These services act as a safety net, offering expertise and strategies to safeguard businesses from the volatile tides of financial risks.

120

120

Cherry Bekaert

SEPTEMBER 22, 2023

In the six years since its introduction, the Opportunity Zone (OZ) program continues to gain more attention and broader success. Despite recent macroeconomic volatility, this year has seen increased excitement and a wider range of achievements. The Tax Cuts and Jobs Act of 2017 (TCJA) gave way to the OZ program, which instantly became a hot topic across the real estate industry.

Real Estate 111

Real Estate Agriculture Construction Non-Profits 111

Going Concern

SEPTEMBER 29, 2023

Ed. note: enjoy some wisdom from a profession OG in this guest post from Blake Oliver. TLDR: Patience, intellectual curiosity, soft skills, and time management will take you far. Most importantly, advocate for yourself. Different generations in the workforce often struggle to understand each other. But experts say one thing that young professionals can do, including young accountants, is to be more patient.

accounting careers 127

accounting careers Account accountant accounted 127

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

SEPTEMBER 12, 2023

By Paul S. Hamann. As many of us in the accounting profession have learned over the years, and especially in the current environment of talent scarcity, structuring a high-performing team in your firm is no easy feat. Whether you have worked to build an engaging and effective culture or not, your practice has a culture. I know from my experience in building companies over the years, each part of the culture-building process needs to be intentional if you want your culture to positively contribut

forensic accounting 124

forensic accounting accounting and finance cpas Healthcare 124

Withum

SEPTEMBER 29, 2023

Did you know that 2023 marks the 20th year of Cybersecurity Awareness Month? Since 2003, we have seen the dramatic evolution of cyberattacks. Despite all the technological advances, the same cyber threats are still at play today. These include ransomware , phishing and business email compromise. Hackers are still trying to steal data, disrupt businesses and even harm physical safety.

Education 124

Education Technology 124

Accounting Today

SEPTEMBER 28, 2023

Close to a thousand taxpayers who earn over $1 million a year failed to file tax returns over multiple recent years, potentially owing $34 billion in taxes, according to IRS data.

tax return 127

tax return Tax income tax 127

Anders CPA

SEPTEMBER 15, 2023

The IRS issued a moratorium on processing new Employee Retention Tax Credit (ERTC) claims on September 14, 2023. The moratorium, which took place effective immediately and will last through December 31 at least, comes as the IRS seeks a way to protect honest small business owners from scams. Key Takeaways: The program is not cancelled, but as of September 14, 2023 and lasting through at least December 31, 2023, the IRS will no longer accept new ERTC claims Claims that have already been filed but

Tax 111

Tax CPA 111

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

SEPTEMBER 12, 2023

Extended Catch-up Contributions SECURE Act 2.0 was signed into law in December 2022, bringing with it major changes that encourage employers to offer retirement plan benefits and incentivize employees to save for their future retirement. The rules for catch-up contributions for 401(k), 403(b) and 457(b) governmental plans were affected. Internal Revenue Service (IRS) has issued guidance that extends the new requirement that any catch-up contributions made by plan participants earning more than $

Tax 111

Tax Government 111

Going Concern

SEPTEMBER 15, 2023

Chattanooga Times Free Press has written quite the story about legacy accounting firm Croft & Frost abruptly laying everyone off earlier this week after months of issues making payroll. Thanks to the tipsters who sent this over because holy s**t. CTFP: Several emails obtained by the Chattanooga Times Free Press show a period stretching between late May to the present in which the company was continually failing to pay employees on time, even as its CEO Jonathan Frost and other leaders assure

accounting firms 125

accounting firms payroll South Dakota North Dakota 125

CPA Practice

SEPTEMBER 29, 2023

By Chelsea Hylton, Los Angeles Times (TNS) It seems like news about Shakira just doesn’t stop. This time the Grammy-winning artist is being charged by Spanish prosecutors for tax evasion. Prosecutors claim she failed to pay $7.1 million in taxes in 2018, according to the Associated Press. She is also being accused of using an offshore company to avoid paying taxes.

Tax 123

Tax income tax 123

Withum

SEPTEMBER 20, 2023

Ed Mendlowitz , Emeritus Partner at Withum, is a local and industry legend, having lent his voice and his talents to the accounting world for over 60 years. He is a thought leader, mentor, teacher, professor, writer and philanthropist. Furthering his worldwide impact on the industry, Ed has now established the Mendlowitz Family Scholarship at Baruch College.

New Jersey 116

New Jersey CPA Education Account 116

Advertisement

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.

Finance

Accounting Today

SEPTEMBER 8, 2023

Following a top-to-bottom review of enforcement efforts, the agency is shifting more attention from working-class taxpayers to high-income earners, partnerships, large corporations and promoters of abusive tax shelters.

Tax 129

Tax tax accountant audit Account 129

Insightful Accountant

SEPTEMBER 4, 2023

Murph clues you in on why the Top 100 2024 process will still award points for QuickBooks Desktop Point-of-sale ProAdvisor Certification even if Intuit drops the certification after it stops supporting QBPOS on Oct. 3, 2023.

quickbooks 108

quickbooks Sales 108

Cherry Bekaert

SEPTEMBER 29, 2023

The Employee Retention Credit (ERC) was created to reward companies that continued paying employees when operations were negatively impacted by the COVID-19 pandemic. It is a proven program that helps companies recover from the negative impacts of the pandemic on their business, even when ERC refund claims are filed today. The Internal Revenue Service (IRS) released new guidance for how employers may or may not have been impacted by supply chain disruptions during the pandemic.

audit 110

audit Tax Government 110

Going Concern

SEPTEMBER 20, 2023

Ed. note: This post brought to you by the Big Government Auditing lobby. Just kidding, it’s a guest post from Parker Skaats, CPA, an experienced government worker who’s here to pitch the joys of government work to the unwashed overworked masses. Okay, let’s be real for a second. When you hear “government auditing,” do you picture dull offices with fluorescent lighting, stacks of paper taller than you, and people who still think fax machines are the pinnacle of technology

Government 123

Government audit CPA auditor 123

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

SEPTEMBER 27, 2023

For accounting firms, automation gathers scattered information and turns it into valuable insights. It increases productivity and empowers firms to better advise their clients by putting the right data into the right hands at the right time. So, it should come as no surprise that firms using technology and software to streamline certain practices and processes are reaping the growth and financial benefits of automation.

accounting firms 122

accounting firms Technology Gaming accounts payable 122

Withum

SEPTEMBER 20, 2023

The F word: Fraud. It is infamous in the accounting world and important that it is an “intentional” act. But why does it happen? How does it happen? The fraud triangle is a famous model in the fraud investigation world and states that fraud can occur when the following 3 elements are present: Pressure, opportunity, and rationalization. The Association of Certified Fraud Examiners releases a report annually entitled “A Report to the Nations”, which can be accessed on their website: ACFE Report.Th

general ledger 114

general ledger payroll financial statements audit 114

Accounting Today

SEPTEMBER 6, 2023

The ADP Research Institute released a report on how worker promotions can affect businesses and employee retention and debuted a new index for tracking employee motivation and commitment.

payroll 129

payroll 129

Canopy Accounting

SEPTEMBER 24, 2023

If you are looking to start offering tax resolution services, there’s a few things you’ll need to take care of first. One of those things is getting a CAF Number. We’ll walk you through that process here.

Tax 105

Tax 105

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