Thu.Mar 28, 2024

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NetSuite expands Text Enhance feature

Accounting Today

NetSuite, during its SuiteConnect event in New York City today, announced that it is expanding its generative AI-driven Text Enhance feature with over 200 new places it can be applied.

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Streamlining Financial Processes: The Impact of Client Accounting Services on Efficiency

AccountingDepartment

Efficient financial processes are essential for the success and growth of any business. However, managing tasks like invoicing, payroll management, and financial reporting can be time-consuming and complex, diverting valuable resources from core operations. This is where client accounting services come into play. In this blog post, we will explore how client accounting services (CAS) streamline financial processes for businesses, highlighting the benefits of outsourcing accounting functions to i

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Trending Sources

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Surprise, There Was a Lot of COVID Relief Fraud

Going Concern

The IRS has announced via press release that Criminal Investigation (CI) has been busy investigating what could end up being almost $9 billion of fraud related to various COVID measures introduced four years ago. The announcement comes days after the IRS ended the Voluntary Disclosure Program that allowed ineligible businesses to repay claimed Employee Retention Credit (ERC) without penalty as long as the business reveals who pushed them to claim ERC in the first place.

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CEO comes back from brain injury to build accounting firm

Accounting Today

BookSmarts Accounting CEO Jenny Groberg managed to survive a traumatic brain injury and build a firm that empowers women accountants.

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Planning Your Restaurants Path to Profitability

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.

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U.S. Economy Sees Strong Growth

CPA Practice

By Augusta Saraiva, Bloomberg News (via TNS) The government’s two main measures of U.S. economic activity posted strong advances at the end of last year, pointing to an economy that’s still expanding at a healthy clip. Gross domestic product rose at an upwardly revised 3.4% annualized pace in the fourth quarter on the back of stronger household demand and business investment, according to the third estimate of the figures from the Bureau of Economic Analysis out Thursday.

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Time Sensitive Opportunities Regarding IRAs: 2023 IRA and HSA Contribution Deadlines

LSLCPAs

It’s that time of year when we remind you to make any final contributions to your prior year IRA, Roth, or HSA accounts. These contributions are due by the first due date of personal tax returns, so April 15th for most of the country. IRA and Roth Contributions The allowable 2023 contribution amount is $6500. The post Time Sensitive Opportunities Regarding IRAs: 2023 IRA and HSA Contribution Deadlines appeared first on LSL CPAs.

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EisnerAmper to Combine With Tidwell Group This Spring

CPA Practice

In a deal expected to close in May, top 20 accounting firm EisnerAmper is merging in top 200 firm Tidwell Group, based in Birmingham, AL. Founded in 1997, Tidwell is a tax, assurance and advisory, and real estate consulting firm with 40 partners and a staff of more than 200 professionals. The firm has six offices across Alabama, Georgia, Texas, and Ohio.

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IRS Begins Process To Designate CRAT Transaction as a Listed Transaction

Cherry Bekaert

The Internal Revenue Service (IRS) released a notice of proposed regulations, REG-108761-22 , to identify certain transactions involving charitable remainder annuity trusts (CRAT) and substantially similar transactions as listed transactions. The IRS highlighted these CRAT transactions on their 2023 Dirty Dozen list of potentially abusive arrangements.

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Sweet 16 Matches Begin in Accountant Bracket Challenge

CPA Practice

The field of 64 has shrunk to 16 in the quest to win the 2024 Accountant Bracket Challenge, presented by Accounting High, as voting for the third-round matchups starts on Thursday. You have through the Easter weekend to cast your votes on the third-round action to determine who advances to the Elite Eight, which begins on April 2. Only two of the four No. 1 seeds remain, as Relay was defeated in the second round by No. 8 seed Ignition in the Money Bracket and Bridging the Gap was bested by No. 8

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How Much Does a Virtual CFO Cost?

Summit CPA

Once your business exceeds around $2 million in revenue, a Chief Financial Officer, or CFO, becomes increasingly necessary. Multiple factors come into play that make the financial side of your business more complicated: banking, taxes, revenue recognition, forecasting, and budgeting, to name a few. The joy of generating more revenue often morphs into frustration when basic bookkeeping and traditional CPA services aren’t enough to level up your business.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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Business Execs Say They Are Adopting Generative AI, Despite Risks

CPA Practice

U.S. business executives worry about potential risks from the widening use of generative artificial intelligence programs such as ChatGPT and Microsoft Copilot, but more than a quarter of them say that hasn’t stopped their organizations from experimenting with the game-changing technology in many core business functions, a recent survey by AICPA & CIMA found.

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Final Direct Pay Regulations Issued for Energy Tax Credits

Cherry Bekaert

How Did the IRA Change Elective and Direct Pay? The Inflation Reduction Act of 2022 (IRA) created the ability for certain tax-exempt and other governmental entities to receive a payment for investments into property that would otherwise qualify for a credit against federal tax liability. These tax credits are specifically available for qualified clean energy investments as specified under the IRA, which includes properties like solar panels, battery storage systems, electric vehicles and electri

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Dividing a 401(k) in Divorce

CPA Practice

Suppose you’re in the midst of divorce proceedings and trying to divvy up assets in a reasonable manner. Some are easily divided, but others can cause more complications. For instance, how does one spouse gain access to the vested benefits in the other spouse’s 401(k) plan? In this case, a qualified domestic relations order, QDRO for short, may do the trick.

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EisnerAmper to merge in Tidwell

Accounting Today

The Top 25 Firm is adding a tax, assurance, advisory and real estate consulting firm in Birmingham, Alabama.

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No-Code Technology: The Key to Unlock the Future of Your Business

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.

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Sam Bankman-Fried Gets 25-Year Prison Sentence

CPA Practice

By Molly Crane-Newman, New York Daily News (via TNS) Fallen FTX founder Sam Bankman-Fried was sentenced to 25 years in prison on Thursday for stealing more than $10 billion from customers of his global cryptocurrency exchange. Manhattan federal court Judge Lewis Kaplan handed down the steep prison term in a packed courtroom just before noon after hearing from one of more than 200 victims who contacted him ahead of sentencing.

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The biggest decisions young accountants have to make

Accounting Today

Experts share what young accountants should look for in a firm and how to approach their careers.

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SEC cyber rules mean new steps for CFOs

Accounting Today

New SEC cybersecurity disclosure rules are now in effect. Here's what CFOs should be doing to comply with the new requirements.

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Under the radar no more: IRS increases scrutiny on corporate jets

Accounting Today

The campaign is part of a larger effort by the IRS to increase its scrutiny of high-income taxpayers and large businesses to help close the tax gap.

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

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.