SMBAccountant

MARCH 6, 2024

Accounting operates within its own language, a system of terms and conventions that serve as the backbone of financial communication and analysis. Understanding this unique language is essential for interpreting financial data, making informed decisions, and effectively navigating the intricate world of business finance. Cash vs. Accrual Accounting Cash accounting records transactions only when cash changes hands, providing a real-time view of cash flow.

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TaxConnex

MARCH 5, 2024

The non-fungible token (NFT) remains a sizzling commodity. These digitized assets denote ownership of such collectibles as sports cards and artwork, even designer digital footwear. Two signs of the size of the sizzle: The online NFT platform OpenSea claims to be worth more than $13 billion. Some NFTs alone on OpenSea have sold for millions and in recent years the average sales price of an NFT (an admittedly volatile commodity) jumped from about $150 to $4,000.

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Sales Tax Wisconsin Minnesota 147

CPA Practice

MARCH 4, 2024

By Jo Constantz, Bloomberg News (TNS) Mistakes continued to pile up this earnings season in the wake of Lyft Inc.’s market-roiling typo : Planet Fitness Inc., Mister Car Wash Inc. and Rivian Automotive Inc. all had to correct their quarterly earnings statements. These types of errors shake investor confidence and in extreme cases can result in heavy fines from the U.S.

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Account accountant accounted cpas 78

RogerRossmeisl

MARCH 5, 2024

The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to certain eligible small businesses. Claiming the credit involves complex calculations, which we’ll take care of for you. But in addition to the credit itself, be aware that there are two additional features that are especially favorable to small businesses: Eligible small businesses ($50 million or less in gross receipts for the three prior tax ye

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payroll tax payroll Tax CPA 129

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

Insightful Accountant

MARCH 5, 2024

Ashleigh Sutter explores the challenges of transitioning from bookkeeping to tax, offering insights on starting, gaining alignment, executing, and maintaining employee engagement during change.

bookkeeping 105

bookkeeping Tax 105

Accounting Today

MARCH 4, 2024

When someone leaves, they need to be replaced and with that comes orientation, training, introduction to your systems and procedures and to your culture.

Account 125

Account accountant accounted 125

LSLCPAs

MARCH 5, 2024

Our 2016 post on Accounts Receivable Fraud might seem “outdated” in the tech-heavy 2024 AI-assisted receivables world, but the principles are the same deep down: fraud happens. The bigger problem today is that all this technology makes the money disappear quicker and sometimes, harder to track and hidden more thoroughly. In response, you and your. The post Accounts Receivable Fraud: How to Stay One Step Ahead in 2024 appeared first on LSL CPAs.

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Account accountant accounted cpas 59

CPA Practice

MARCH 4, 2024

Breaking news: Accountants aren’t robots—they’re human beings and sometimes they make mistakes at work. But a new survey from research and consulting firm Gartner finds that capacity constraints are the leading factor to more errors being made than usual in accounting and finance departments. The survey of 497 professionals working in the controllership function, conducted last July, revealed that 18% of accountants said they make financial errors at least daily, with a third making at least a f

Account 64

Account accountant accounted accounting and finance 64

Insightful Accountant

MARCH 6, 2024

Last week our calendars all marked a unique day that only comes about once every four years. Leap Day, February 29th, this day intends to sync the calendar with the solar year. It still has its affects tax planning, so discuss with clients.

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audit tax planning Tax 104

BurklandAssociates

MARCH 5, 2024

From what to look for when hiring a Fractional CFO to when to make the hire, this article answers eight top questions we hear from startup founders. The post Hiring a Fractional CFO for Your Startup – Answers to Common Questions appeared first on Burkland.

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RogerRossmeisl

MARCH 5, 2024

With the high cost of college, many parents begin saving with 529 plans when their children are babies. Contributions to these plans aren’t tax deductible, but they grow tax deferred. Earnings used to pay qualified education expenses can be withdrawn tax-free. However, earnings used for other purposes may be subject to income tax plus a 10% penalty.

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Withum

MARCH 2, 2024

In a surprise decision Friday night, a federal district court ruled that the Corporate Transparency Act (“CTA”) is unconstitutional, effectively placing the Beneficial Ownership Information (BOI) reporting on hold. By way of background, the CTA was enacted on January 1, 2021 as part of the 2021 National Defense Authorization Act as an attempt to prevent money laundering and tax evasion by requiring new reporting for certain companies doing business in the US.

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Accounting Today

MARCH 5, 2024

An Alabama federal district court held that the Corporate Transparency Act is unconstitutional, stating it "exceeds the Constitution's limits on Congress' power.

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CPA Practice

MARCH 7, 2024

By Leada Gore, al.com (TNS) The IRS has a warning that expenditures for general health and wellness aren’t considered medical expenses, regardless of some advertising claims to the contrary. In a bulletin issued “amid concerns about people being misled,” the IRS said personal expenses—things like food and general wellness purchases—are not deductible or reimbursable under health flexible spending or reimbursement arrangements, health savings accounts, or medical savings accounts.

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Tax Account accountant accounted 124

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.

RogerRossmeisl

MARCH 5, 2024

Business valuators sometimes consider major events that happen after the valuation date. For example, what if a business is subsequently sold, files for bankruptcy, discovers new technological advances, or experiences a major fraud loss, data breach or natural catastrophe? Such events could potentially affect a business’s fair market value, but whether a valuator will consider a particular event depends on the facts and circumstances of the valuation assignment.

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CPA Tax Technology 165

Withum

MARCH 5, 2024

In this episode of Cryptonomix, Mark Eckerle sits down with Seth Priebatsch, President at Groma, a full-service real estate development and management firm with a blockchain twist.

Real Estate 126

Real Estate 126

Accounting Today

MARCH 6, 2024

A divided Securities and Exchange Commission voted to approve a new rule that would require companies to provide climate-related disclosures to investors, but scaled back the original proposal to exclude disclosure of so-called Scope 3 emissions from their supply chains, and exempt many smaller companies.

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Account accountant accounted 127

CPA Practice

MARCH 5, 2024

Technical skills and a meticulous eye for detail have always been the bedrock of the accounting profession. Yet, amid the focus on balance sheets and financial analytics, there’s a vital element that’s often overlooked—Emotional Intelligence (EI). As we venture through the evolving landscape of modern business, the ability to adeptly navigate our own emotions and those of others has become indispensable for accountants looking to elevate their service beyond the numbers.

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Account accountant accounted Education 124

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

RogerRossmeisl

MARCH 5, 2024

If you want to withdraw cash from your closely held corporation at a low tax cost, the easiest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax efficient since it’s taxable to you to the extent of your corporation’s “earnings and profits,” but it’s not deductible by the corporation. 5 different approaches Thankfully, there are some alternative methods that may allow you to withdraw cash from a corporation while avoiding dividend treatment.

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Tax CPA business tax 160

Withum

MARCH 7, 2024

There is a lot going on with the employee retention credit (ERC) these days and it can be hard to keep up with the latest developments. From Congressional proposals to changes in IRS procedures, change is afoot and more is expected in the near future. Below is a summary of the latest thoughts on various issues that are of interest to those who have already claimed the ERC or are about to claim the ERC.

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Tax income tax tax return audit 126

Accounting Today

MARCH 5, 2024

The 25 accounting practices with the highest revenue growth in percentage terms in 2023 from Accounting Today's Top 100 and Regional Leaders list.

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Account accountant accounted 137

CPA Practice

MARCH 7, 2024

On Thursday night, President Joe Biden gave his 2024 State of the Union Address to a joint session of Congress. Mark Friedlich , ESQ., CPA, Vice President of Government Affairs at Wolters Kluwer Tax & Accounting, offered his take on the speech: “President Biden in his State of the Union, highlighted plans to make the tax code fairer and reduce the growing federal deficit by reducing tax breaks for the wealthiest Americans, raising corporate tax rates, creating a minimum tax on billionaires a

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Tax corporation tax Washington Government 122

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RogerRossmeisl

MARCH 5, 2024

If you operate your business in multiple locations (as with retail or restaurant chains), you face some extraordinary fraud-prevention challenges. After all, you can’t be everywhere at once. And the more locations you operate, the harder they are to monitor. Without the appropriate checks and balances in place, fraud losses in one store could threaten the health of your entire company.

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CPA Retail 140

Insightful Accountant

MARCH 4, 2024

We are excited to announce the members of Insightful Accountant’s inaugural Advisor Panel. The primary purpose of the panel is to help us stay “in touch” with the audience we serve and to continue to provide the content you, our audience, want.

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Account accountant accounted 111

Accounting Today

MARCH 4, 2024

Investors have filed a lawsuit against an accounting firm alleging it helped a client maintain a Ponzi scheme involving cash advances that led to the loss of millions of dollars.

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accounting firms Account accountant accounted 123

CPA Practice

MARCH 4, 2024

By Justin Sink, Bloomberg News (TNS) President Joe Biden will advocate plans to increase taxes on the wealthy and corporations as well as to lower prescription drug prices in his State of the Union address this week, in what aides describe as an effort to lay out second term proposals for protecting and implementing his economic agenda. Biden, who will speak before both houses of Congress on Thursday night, is seeking to convince voters that his administration’s achievements merit another four y

Tax 119

Tax Alabama corporation tax Government 119

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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.

RogerRossmeisl

MARCH 5, 2024

Business bankruptcies increased 40.4%, from 13,481 to 18,926, from 2022 to 2023, according to statistics released by the Administrative Office of the U.S. Courts. Solvency opinions may help creditors determine whether a liquidating debtor can meet repayment obligations. They also may come into play in fraudulent conveyance, bankruptcy alter ego and due diligence actions.

CPA 138

CPA 138

Anders CPA

MARCH 5, 2024

The Corporate Transparency Act (CTA) has been declared unconstitutional, putting the newly finalized law in jeopardy. Beneficial Ownership Information (BOI) reporting requirements directing closely held businesses to submit personal details about the beneficial owners to the Financial Crimes Enforcement Network (FinCEN) are now in limbo as the government prepares its response to the ruling.

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Accounting Today

MARCH 4, 2024

KPMG and its partner Adrian Wilcox failed to audit the advertising agency with sufficient professional skepticism, according to the Financial Reporting Council.

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audit Account accountant accounted 129

CPA Practice

MARCH 4, 2024

By Venus Wu and Crystal Li. In October 2023, California became the first state to pass regulations for reporting greenhouse gas emissions (GHGs). The regulations are outlined in two bills, the Climate Corporate Data Accountability Act (SB-253) and the Climate-Related Financial Risk Act (SB-261). These laws apply for both private and public U.S. companies that do business in California (not just those with a physical presence in California).

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California accounting and finance Government Finance 119

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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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