Insightful Accountant
DECEMBER 20, 2023
If your revenue is stagnant, your first thought might be to add more clients. Adding clients will undoubtedly add to your bottom line, but you can grow your firm without spending the time and resources to attract new clientele, how do you do this?
CPA Practice
DECEMBER 19, 2023
The IRS has hit the restart button on sending out automated collection notices, ending a two-year hiatus because of the COVID-19 pandemic, the agency said on Tuesday. Because automated collection notices were paused during that two-year span, the IRS also said today it will be providing about $1 billion in penalty relief to approximately 4.7 million individuals, businesses, and tax-exempt organizations that weren’t sent collection reminders about their overdue taxes during the pandemic.
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Accounting Today
DECEMBER 18, 2023
Key to discussion on what AI means for accountants is understanding what AI can and cannot do.
CPA Practice
DECEMBER 18, 2023
Time and again, retaining talent is ranked as a top challenge among leaders in the accounting and finance profession. To better understand what drives the profession’s perpetually high turnover, the Illinois CPA Society (ICPAS)—one of the largest state societies serving the certified public accountant (CPA) community—has gathered new survey data that sheds light on this trending topic.
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 18, 2023
Individual partners and individual shareholders of S corps can now get a business tax account.
Accounting Today
DECEMBER 20, 2023
The relief will go to roughly 4.7 million taxpayers who weren't sent collection reminder notices during the pandemic.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Insightful Accountant
DECEMBER 20, 2023
Preparing, filing, and correcting 1099s is now easier than ever in QuickBooks Online. New workflow, reporting, free e-file of corrections and E-file payment flexibility and will be available for the 2023 filing period.
AccountingDepartment
DECEMBER 19, 2023
Reports play a crucial role in managing a business effectively, and QuickBooks provides a wide range of reports that can help small and medium-sized businesses track their financial performance and make informed decisions. These reports provide valuable insights into various aspects of the business, such as income, expenses, sales, inventory, and payroll.
CPA Practice
DECEMBER 20, 2023
The National Association of State Boards of Accountancy and the American Institute of CPAs have approved revisions to the Statement on Standards for Continuing Professional Education Programs, as well as the NASBA Fields of Study document. The Standards changes, which include additional options for virtual learning, are effective Jan. 1, 2024. Published jointly by NASBA and the AICPA, the CPE Standards provide the framework for the development, presentation, measurement and reporting of CPE prog
BurklandAssociates
DECEMBER 19, 2023
2023 was another interesting and challenging year for startups and investors. Our readers found these blog articles to be especially helpful. The post Readers’ Favorites: Our Top Blog Posts of 2023 appeared first on Burkland.
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.
Going Concern
DECEMBER 20, 2023
You may have seen headlines over the past week about Deloitte “looking to AI to help avoid mass layoffs in the future” as first reported by Bloomberg and picked up by multiple outlets (including us putting a link to it in Monday morning’s news brief). It said: The giants of the consulting world face an unusual quandary this year: many of them are in the process of dismissing hundreds of staffers even after they hired thousands of college graduates to deal with new demand.
Withum
DECEMBER 22, 2023
On December 21, 2023, the IRS released details about its second settlement initiative relating to the employee retention credit (ERC). See IR-2023-247 , Announcement 2024-3 , general information , and FAQs. The IRS previously released a withdrawal option on October 19, 2023, for taxpayers who either did not receive their ERC checks or did not cash them.
CPA Practice
DECEMBER 19, 2023
By Gail Cole. Firearms and ammunition are already subject to New York sales tax. If New York State Senate Bill 7733 is enacted, it will place an additional excise tax on the sale of firearms and ammunition in the Empire State. The rate would be 11% to match the federal firearms and ammunition excise tax as well as the new California tax on guns and ammo dealers.
Basis 365
DECEMBER 18, 2023
In the bustling world of business, financial statement profits may grab the headlines, but it's cash flow that keeps the lights on. It's the lifeblood of a company, ensuring you have the resources to pay bills, invest in growth, and ultimately, stay afloat. Accrual accounting is important for many reasons when analyzing the performance of your business but your income statement profit is not the same as your cash flow.
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.
Going Concern
DECEMBER 19, 2023
Last week, CPA Ontario announced a settled disciplinary matter with PwC Canada , the matter being cheating and the settlement being $1.45 million CAD ($1.09 million USD) in fines for breaches of the CPA Ontario code of conduct. Here’s what happened. 445 professional staff — 93 percent auditors and seven percent tax and advisory — participated in answer sharing during mandatory, open-book internal training assessments between 2016 and 2020.
Withum
DECEMBER 18, 2023
As the end of the year approaches, Withum is excited to share a round-up of the Firm’s giving efforts for 2023. From large, organized projects to hyper-localized volunteerism and individual philanthropy, it is safe to say that Withum team members from all over the world live the Withum Way every day and give back to their communities and causes close to their hearts at every opportunity.
CPA Practice
DECEMBER 22, 2023
By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) Just in time for the holidays, the IRS has announced a move to help individuals, businesses, and tax-exempt organizations that owe back taxes. The agency will waive nearly $1 billion in penalties for taxes owed by more than 4.7 million people and entities that didn’t receive automated collection reminders during the COVID-19 pandemic.
ThomsonReuters
DECEMBER 19, 2023
Jump to: How do renewable energy tax credits work? What renewable energy tax incentives does the IRS offer for individuals vs. businesses? Overview of clean energy credits by energy type Helping clients with renewable energy credits In recent years, the U.S. and other countries around the world have placed a growing emphasis on sustainability and green energy.
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
Going Concern
DECEMBER 22, 2023
Programming note: we’ll be putting some things up next week (posts, not Christmas trees) so should you swing by you’ll have something new to read. Barring any huge incident like an accounting firm getting raided by the FBI on Christmas Day, there will not be any breaking news. Tips are still welcome , nay, encouraged , and we’ll be monitoring the tipline.
Accounting Today
DECEMBER 21, 2023
Those 73 and older need to make sure they're taking their required minimum distributions from IRA and other retirement accounts.
CPA Practice
DECEMBER 17, 2023
By Anik Jain. Continued economic uncertainty, geopolitical tensions, stubborn inflationary trends and high interest rates are impacting everything from supply chains and vendor relationships to the labor force and the workplace. As a result, finance leaders find their departments squarely in the spotlight—keeping a closer eye on their balance sheets, taking fewer risks, and focusing more on efficiency and value over growth.
Withum
DECEMBER 21, 2023
Withum is thrilled to share that Lena Combs, Partner and Practice Leader of Withum’s Hospitality Services Practice, has been inducted into the International Society of Hospitality Consultants (ISHC). ISHC is the leading source of global hospitality expertise. Membership in ISHC is by invitation only, and members are viewed as leaders in their respective areas of expertise.
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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.
Going Concern
DECEMBER 18, 2023
For at least a year now, we’ve heard from Big 4 leadership and their spokespeople that historically low attrition combined with slowing demand for consulting services are forcing firms to lay off staff. Attrition is baked into the business model so when people don’t leave as expected, firms have to start pushing them out like little squawking birds getting shoved out of the nest.
Accounting Today
DECEMBER 21, 2023
The IRS is rolling out a voluntary disclosure program to let businesses pay back Employee Retention Credits they claimed in error.
CPA Practice
DECEMBER 18, 2023
The Internal Revenue Service has launched the second phase of a new online self-service tool for businesses that expands business tax account capabilities and eligible entity types. As a result, individual partners of partnerships and individual shareholders of S corporation businesses are now eligible for a business tax account in addition to sole proprietors.
Insightful Accountant
DECEMBER 18, 2023
Intuit has announced a new global QuickBooks brand platform, “Business Differently,” focused on the growing population of solopreneur small business owners.
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.
Summit CPA
DECEMBER 20, 2023
On a basic level, a virtual CFO (aka virtual Chief Financial Officer , part-time CFO ) is a financial professional that provides outsourced CFO services. The way we often describe it at Summit Virtual CFO by Anders is this: a virtual CFO performs the same roles that a full-time, traditional CFO and their team would but at the fraction of the cost.
Accounting Today
DECEMBER 20, 2023
Accounting's influencers offer their advice for solving the profession's most critical issue.
CPA Practice
DECEMBER 19, 2023
In an era where AI, particularly generative AI, is reshaping industries, small accounting firms stand at a crossroads. As we approach 2024, the integration of AI into accounting practices is not just an opportunity for an advantage, but a necessity. This guide aims to demystify AI for small accounting firms, providing actionable insights into adopting this transformative technology to enhance efficiency, accuracy and value in your services.
Ryan Lazanis
DECEMBER 16, 2023
If you're striving for accounting work life balance, check out this article that lists 10 actionable tips & tricks to help get you there. The post Accounting Work Life Balance: 10 Tactics for Success appeared first on Future Firm.
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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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