Insightful Accountant
APRIL 15, 2024
The 2024 tax season is ending with fewer hiccups and changes compared to previous years. Pending legislation and court decisions may bring uncertainty for preparers in the future.
CPA Practice
APRIL 15, 2024
Few agencies are as perpetually tasked to “do more with less” than the Internal Revenue Service (IRS). Despite chronic and pandemic-specific challenges however, the IRS is making strides in returning to business as usual. According to the recently released National Taxpayer Advocate Annual Report to Congress , “…the magnitude of successes exceeded the areas of weakness in 2023, and most metrics showed significant improvement from the depths of the [COVID-19] pandemic.
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Patriot Software
APRIL 16, 2024
Despite your best efforts, accidents can happen in the workplace. When they do, you must fill out a workplace incident report. OSHA, the Occupational Safety and Health Administration, requires that all employers report qualifying workplace incidents. And, most employers must submit OSHA forms for other injuries and illnesses.
RogerRossmeisl
APRIL 17, 2024
Unemployment has been holding steady recently at 3.7%. But there are still some people losing their jobs — particularly in certain industries including technology and media. If you’re laid off or terminated from employment, taxes are likely the last thing on your mind. However, there are tax implications due to your altered employment circumstances.
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RogerRossmeisl
APRIL 17, 2024
Uncertainty about inflation, regulations and geopolitical risks abounds in today’s marketplace. A fairness opinion can protect against costly litigation if your company engages in a major transaction and the projected results subsequently fall short of expectations or insolvency becomes likely. Here’s how a fairness opinion from an independent business valuator can help protect against post-deal legal claims.
IgniteSpot
APRIL 17, 2024
As entrepreneurs, especially those of us who navigate the tumultuous seas of business development with a do-it-yourself ethos, making decisions that impact our financial health can seem daunting. Yet, the mastery of this aspect—particularly the financial and accounting decisions—is what separates thriving businesses from those that merely survive. The key is not in avoiding decisions but in making informed, strategic choices with a clear understanding of their long-term consequences.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Accounting Today
APRIL 16, 2024
A CPA's embezzlement turns out to be no excuse for trust fund recovery penalties.
Accounting Today
APRIL 17, 2024
The process of becoming a remote partner isn't much different from the traditional path — but it may take a little extra effort.
CPA Practice
APRIL 15, 2024
Dr. Sangeeta Chhabra CPAs and finance professionals today understand the importance of transparency and collaboration; however, lack of uniformity acts as an obstacle to seamless coherence in data management processes. While navigating these challenges, generative AI is emerging as a promising prospect. Generative AI, as a growing ecosystem of technologies, extends beyond GPT-4 and Gemini with added capabilities to process diverse data types, such as text, images, audio, video, 3D modeling, and
RogerRossmeisl
APRIL 17, 2024
Occupational fraud is a crime generally committed by employees against their employers. Ironically, employees also are most likely to notice or suspect occupational fraud schemes conducted by their coworkers or managers. Whether they report through an anonymous tipline or directly to management or HR, rank-and-file workers often are the first to raise the alarm.
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.
BurklandAssociates
APRIL 16, 2024
Burkland’s Fractional CFO team shares a list of cost-saving tips that venture-backed startups can employ to optimize their financial resources. The post Cost-Saving Tips for Startups: Maximize Your Cash Runway appeared first on Burkland.
Accounting Today
APRIL 17, 2024
The first class members of the AICPA and NASBA's pilot Experience, Learn & Earn program are completing their inaugural semester.
CPA Practice
APRIL 18, 2024
Hosts Randy Johnston and Brian Tankersley, CPA, look at the practice management, billing and collections platform Aiwyn. Use the video player below to watch, or the podcast player below to listen to the podcast. Or use this podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.) Randy Johnston 00:00 Hey, welcome to Technology Lab.
RogerRossmeisl
APRIL 17, 2024
Your business should generally maximize current year depreciation write-offs for newly acquired assets. Two federal tax breaks can be a big help in achieving this goal: first-year §179 depreciation deductions and first-year bonus depreciation deductions. These two deductions can potentially allow businesses to write off some or all of their qualifying asset expenses in Year 1.
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
APRIL 17, 2024
According to an article published Monday in the Pittsburgh Post-Gazette , BDO will be moving its Pittsburgh office from the current space in the Heinz 57 Center at 339 Sixth Ave to the new FNB Financial Center at 632 Washington Place. They’ll be taking the 18th floor when they move in next year. PPG says : In a statement, Deron Curliss, assurance practice leader in BDO’s Pittsburgh office, said the new space will provide “a flexible and collaborative work environment” for employees.
Accounting Today
APRIL 17, 2024
A phish, a mill and a stroll overseas are just three of the 12 major scams the Internal Revenue Service identified for this year's rogues gallery.
CPA Practice
APRIL 16, 2024
Retail sales continued to increase in March along with job growth and tax refunds, which put more money in shoppers’ pockets, according to data from the U.S. Census Bureau. “March’s Census Bureau numbers confirm that consumer spending remains steady, underscoring a resilient consumer despite inflationary pressure,” said National Retail Federation Chief Economist Jack Kleinhenz.
RogerRossmeisl
APRIL 17, 2024
Many businesses support their communities by donating to local charities. Although there are plenty of non-profits that deserve your support, some exist solely to facilitate fraud. How can you avoid the latter? Familiarize yourself with the deceptive tactics scammers use and carefully screen charities for legitimacy — before you write a check. Branding tricks Fraud perpetrators employ many tried-and-tested approaches to trick businesses into donating to fake charities.
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Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.
Going Concern
APRIL 17, 2024
Ever since the news broke in early 2023 that a PwC Australia partner brought confidential government tax changes back to the firm for the purposes of monetizing it for corporate tax avoidance, the firm has been struggling to crawl out from under the garbage heap of a scandal. Which is whatever, every Big 4 firm has taken reputational damage on the chin and kept truckin’ But for Big 4 firms in Australia, the fatuous actions of their competitors at PwC have brought unwanted scrutiny and a st
Accounting Today
APRIL 15, 2024
The Internal Revenue Service reported stronger performance on Monday, April 15, as it concluded this year's tax filing season, saying it had answered 1 million more phone calls from taxpayers and helped 170,000 people in person compared to last year.
CPA Practice
APRIL 16, 2024
By Lizzy McLellan Ravitch. The Philadelphia Inquirer (via TNS) Molly Kowal decided to become an accountant in part because she knew it would be a stable career. After graduating from college in 2021, she saw friends in other fields struggling to find work but knew she would be able to find a job. But that doesn’t mean she’s willing to work into the wee hours during busy season.
RogerRossmeisl
APRIL 17, 2024
If you have a tax-favored retirement account, including a traditional IRA, you’ll become exposed to the federal income tax required minimum distribution (RMD) rules after reaching a certain age. If you inherit a tax-favored retirement account, including a traditional or Roth IRA, you’ll also have to deal with these rules. Specifically, you’ll have to: 1) take annual withdrawals from the accounts and pay the resulting income tax and/or 2) reduce the balance in your inherited Roth IRA sooner than
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Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.
KROST
APRIL 17, 2024
KROST’s Assurance & Advisory Senior Manager, Rebecca Hickle, CPA, has been nominated for the CalCPA Women to Watch: Emerging Leader award! This year, there are 47 nominees and three award categories, including Emerging Leader, Experienced Leader, and Trailblazer of the Year. The annual recognitions honor outstanding women making an impact in the profession and industry.
Accounting Today
APRIL 16, 2024
President Joe Biden and First Lady Jill Biden paid $146,629 in federal income taxes on a combined $619,976 in adjusted gross income in 2023.
CPA Practice
APRIL 15, 2024
It’s Tax Day, so there’s no better time for the IRS to pat itself on the back for a job well done as filing season for most Americans comes to a close. Compared to last year, the IRS answered more than 1 million additional taxpayer phone calls during the 2024 tax season, helped over 170,000 more people in-person, and saw 75 million more visits to IRS.gov, mainly due to the agency’s new and expanded Where’s My Refund?
RogerRossmeisl
APRIL 17, 2024
Here are some of the key tax-related deadlines that apply to businesses and other employers during the second quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. April 15 If you’re a calendar-year corporation, file a 2023 income tax return (Form 1120) or file for an automatic six-month extension (Form 7004) and pay any
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Patriot Software
APRIL 18, 2024
Are your employees working too much overtime? Who needs a raise? Are you spending too much money on a department? To get answers to these types of questions, analyze your payroll data. Use payroll analytics to make decisions, avoid overspending on payroll, and verify the accuracy of your payroll.
Going Concern
APRIL 15, 2024
This morning, Vault released its mildly anticipated 2025 Best Accounting Firms to Work For list and it should be no surprise that PwC has swept the category of Best Accounting Firm for the gazillionth year in a row. This year they also wrestled the title of Most Prestigious back from last year’s #1 firm Deloitte. The methodology is as follows: The Vault Accounting 25 is compiled using a weighted formula that reflects the issues accounting professionals care most about, combining quality of
CPA Practice
APRIL 15, 2024
On April 15, Florida Governor Ron DeSantis signed CS/HB 813 – Certified Public Accountants by Rep. Mike Caruso (CS/CS/SB 954), a bill that creates a new retired license status in statute for certified public accountants in Florida. “We want to thank Gov. DeSantis for signing this great bill, CPA Lawmakers Rep. Caruso and Sen. Joe Gruters for sponsoring it, and the entire Legislature for supporting the profession.
RogerRossmeisl
APRIL 17, 2024
Are you dreaming of buying a vacation beach home, lakefront cottage or ski chalet? Or perhaps you’re fortunate enough to already own a vacation home. In either case, you may wonder about the tax implications of renting it out for part of the year. Count the days The tax treatment depends on how many days it’s rented and your level of personal use. Personal use includes vacation use by your relatives (even if you charge them market rate rent) and use by nonrelatives if a market rate rent isn’t ch
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