The future of the trusted advisor: Challenges and opportunities
Accounting Today
DECEMBER 11, 2023
As the accounting profession enters a period of unprecedented change, the AICPA's Barry Melancon highlights the upsides and downsides.
Accounting Today
DECEMBER 11, 2023
As the accounting profession enters a period of unprecedented change, the AICPA's Barry Melancon highlights the upsides and downsides.
Canopy Accounting
DECEMBER 13, 2023
In this ebook, you'll learn 4 ways to create a top tier experience for clients while optimizing your firm's internal processes for long-term and more profitable relationships.
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CPA Practice
DECEMBER 14, 2023
A new study by top 15 accounting firm Moss Adams revealed that 69% of accountants believe artificial intelligence will enhance rather than eliminate jobs and has a positive impact on the accounting profession as a whole, driving productivity and business growth. “AI is here, and accountants are actively embracing the technology,” Bill Armstrong, chief innovation officer at Moss Adams, said in a statement.
AccountingDepartment
DECEMBER 13, 2023
With a new year just around the corner, it's time for organizations to start thinking about their budgets for 2024 - if they haven't already. Effective budgeting and planning are critical to the success of any business. It helps in making smart financial decisions, optimizing resource allocation, and achieving business objectives.
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.
TaxConnex
DECEMBER 14, 2023
In sales tax calculation, you deal with the “hard” and the “less-hard.” Figuring out sales tax obligations for goods (aka, tangible personal property, or TPP) is the less-hard part; you merely have to bear in mind that every state that taxes TPP does it a little differently. Services, on the other hand, are the hard calculation. Not every state taxes services not every state taxes the same ones, and those that do tax services do so in a galaxy of ways.
CPA Practice
DECEMBER 13, 2023
By Clement Feng. Like many other large legislative bills, the Inflation Reduction Act is filled with lots of taxpayer goodies that are hard to find unless you know where they are. Yet, in this case, identifying them is worth the time and effort since they can make a big difference in tax filings for eligible homeowners and business property owners. In fact, this particular legislation may help many more of your clients than CPAs realized when it was first passed in August 2022.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Mark Lee
DECEMBER 12, 2023
Historically most clients stay with their accountant for many years. They generally move only when they feel their accountant doesn’t care enough about them, puts their fees up significantly or messes up. Of course there are also those clients who only ever wanted to go to the cheapest accountant around and move on whenever they think they can do better.
Insightful Accountant
DECEMBER 12, 2023
Intuit will initiate major reporting enhancements for QuickBooks Online and QuickBooks Online Advanced users starting December 15, 2023.
Accounting Today
DECEMBER 14, 2023
The Institute of Management Accountants reported increased salaries and job opportunities for Certified Management Accountants as opposed to those without certifications.
TaxConnex
DECEMBER 12, 2023
Business truism has it that limited liability corporations and similar entities shield the personal property and assets of their owners and major shareholders from company bills and missteps. That’s true for many of the fiscal messes that can befall a company. But not for sales tax liability, where most states still maintain strong responsible party laws.
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.
BurklandAssociates
DECEMBER 11, 2023
The IRS recently provided new interim guidance around expense categories, contract research, and foreign R&D activities. The post R&D Tax Credit and Section 174 Update for Startups appeared first on Burkland.
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.
Going Concern
DECEMBER 12, 2023
Mere hours ago, Wall Street Journal reported that EY is laying off “dozens of partners across all U.S. business” and not only in lower-demand service lines. As with most of the cuts we’ve seen this year, consulting is most affected with their partner ranks being trimmed by ten percent, four percent in strategy and transactions. Says WSJ , there will be cuts in audit and tax as well though they didn’t share numbers.
Accounting Today
DECEMBER 11, 2023
The Treasury Department and the Internal Revenue Service expect to issue proposed regulations to address the application of the foreign tax credit and related rules and the dual consolidated loss rules to certain types of taxes described in the GloBE Model Rules.
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 14, 2023
There are slight changes in the IRS-issued optional standard mileage rates for 2024, which are used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car, van, pickup truck, or panel trucks will be: 67 cents per mile driven for business use, an increase of 1.5 cents from 2023. 21 cents per mile driven for medical or moving purposes for qualified active-duty mem
Withum
DECEMBER 14, 2023
On December 13, 2023, the Financial Accounting Standards Board (FASB) finalized Accounting Standards Update (ASU) 2023-08 “Accounting for and Disclosure of Crypto Assets”. The amendments in the expedited ASU aim to improve the reporting of crypto assets by requiring entities to present crypto assets at fair value instead of the previously used cost-less-impairment model.
Going Concern
DECEMBER 14, 2023
Actually RIP the entire four-part CPA exam. Tomorrow, December 15, 2023, is the last day anyone will ever sit for BEC before it shuffles off into examination heaven and takes written communication with it. That’s right, no more written communication on the CPA exam. Wyoming and Idaho were the states with the latest application deadline for BEC — November 15 — while most others cut off re-exam NTSs on November 12 and first-time NTSs on October 1.
Accounting Today
DECEMBER 13, 2023
The Financial Accounting Standards Board released its long-awaited accounting standards update to improve the accounting for and disclosure of certain cryptoassets.
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
CPA Practice
DECEMBER 11, 2023
A Top Technology Initiative Article – Dec. 2023. Artificial intelligence (AI) has rapidly transitioned from science fiction to everyday reality, transforming industries and disrupting long-held paradigms. AI’s influence is pervasive and ever-growing, from self-driving cars to personalized healthcare. As we enter 2024, it’s natural to wonder what the future holds for this transformative emerging technology, especially for accountants.
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 13, 2023
Well it’s about that time, time for us to start s g out “best of” lists to cover for the fact that we’ve been phoning it in since mid-November (…of 2014). The stories below aren’t necessarily our best in the traditional sense nor were they strictly the most popular, they’re just my favorites for the year. Before I look back on what I think were the best posts (ranked arbitrarily by me), allow me to resurrect this post from January 7: Let’s Start the Year
Accounting Today
DECEMBER 13, 2023
The International Federation of Accountants wants organizations to combine sustainability reporting with their existing internal control and governance frameworks.
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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.
CPA Practice
DECEMBER 13, 2023
By Mike D’Avolio, CPA, JD. The Inflation Reduction Act of 2022 was signed into law on Aug. 16, 2022, providing numerous tax deductions and tax credits for individuals, families and businesses. New tax incentives were added, and existing tax incentives got extended and enhanced. This article covers two home energy tax credits for your individual clients to take advantage of by saving money on their tax returns and conserving energy to help out the environment.
Withum
DECEMBER 14, 2023
Withum is proud to share that Accounting Today has once again named Jim Bourke , Managing Director of Advisory Services and Ed Mendlowitz , Emeritus Partner, on their annual Top 100 Influential People in Accounting. The Top 100 are chosen for their outstanding contributions to the industry, including their leadership, mentorship, and how they use their voice to promote and advocate for the profession.
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.
Accounting Today
DECEMBER 14, 2023
The American Institute of CPAs provided information for U.S. accounting professionals on the potential impact on their out-of-state engagements if some of the pending legislation in some states on licensure requirements is enacted.
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.
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
Withum
DECEMBER 11, 2023
Join Withum’s Law Firm Services team for an overview of the most important tax issues to address going into 2024. View On-Demand Webinar With ongoing changes to the tax landscape, tax proposals in the face of an impending election, changes to bonus depreciation and more, there is much for law firms and attorneys to keep in the forefront this year-end.
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
Accounting Today
DECEMBER 11, 2023
The International Federation of Accountants' planned revisions will include some new and revised learning outcomes to meet the demands for sustainability reporting and assurance.
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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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