RogerRossmeisl
APRIL 30, 2024
According to the Treasury, the US government has provided auto dealers with >$580 million in advance payments for consumer electric vehicle (EV) tax credits since 1/1/2024. Before 2024, American car purchasers were only eligible for the new electric vehicle (EV) credit of up to $7,500 or the $4,000 credit for used EVs when they submitted their tax returns in the subsequent year.
TaxConnex
APRIL 30, 2024
More states are plowing ahead with adding a new kind of expense to delivering in the eCommerce age. In what states do you have to watch for retail delivery fees (RDFs)? Q: Is this a “tax” or a “fee”? A: Most states refer to it as a fee, a distinction that allows lawmakers to avoid the voting process. RDFs are a relatively new concept: Colorado was first to roll one out, in July 2022.
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BurklandAssociates
APRIL 30, 2024
Accountants and fractional CFOs play distinct but complementary roles in the financial management of venture-funded startups. The post Accountant vs. Fractional CFO: Choosing the Right Financial Expertise for Your Startup appeared first on Burkland.
MyIRSRelief
MAY 1, 2024
Running a small business is an exhilarating rollercoaster. You’re passionate about your product or service, constantly innovating, and striving for growth. Yet, amidst the excitement lurks a dark alley – the realm of taxes. Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls.
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.
Insightful Accountant
APRIL 29, 2024
Insightful Accountant proudly announces this year's Top 100 ProAdvisors along with our Emeritus ProAdvisors of the Year. Congratulations to all being recognized for this year's awards.
RogerRossmeisl
APRIL 30, 2024
Vacation homes in upscale areas may be worth way more than owners paid for them. That’s great, but what about taxes? Here are three scenarios to illustrate the federal income tax issues you face when selling an appreciated vacation home. Scenario 1: You’ve never used the home as your primary residence In this case, the home sale gain exclusion tax break (up to $250,000 or $500,000 for a married couple) is unavailable.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
APRIL 28, 2024
The Internal Revenue Service is offering tax-related information to entrepreneurs in anticipation of the upcoming kick-off of National Small Business Week. The U.S. Small Business Administration coordinates the annual event, helping entrepreneurs with resources, benefits and other important business startup information that small business owners can use to launch their enterprises.
MyIRSRelief
APRIL 29, 2024
Los Angeles, the City of Angels, beckons with its vibrant energy, diverse culture, and endless opportunities. It’s no surprise then, that thousands of ambitious entrepreneurs set up shop in the sprawling metropolis and its surrounding cities, forming the backbone of the Los Angeles-Long Beach-Anaheim, CA (LA Metro) economy. But for these go-getters, navigating the complexities of running a business, especially the ever-challenging world of taxes and accounting, can feel overwhelming.
Accounting Today
APRIL 29, 2024
A recent survey from EY found that 90% of respondents already use at least some AI in their work, and other recent developments around the technology.
RogerRossmeisl
APRIL 30, 2024
It’s not unusual for a partner to incur expenses related to the partnership’s business. This is especially likely to occur in service partnerships such as an architecture or law firm. For example, partners in service partnerships may incur entertainment expenses in developing new client relationships. They may also incur expenses for: transportation to get to and from client meetings, professional publications, continuing education and home office.
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Going Concern
APRIL 30, 2024
It’s been almost six years since the Canadian government legalized recreational cannabis and ever since, a microcosm of financial reporting and auditing has been growing (no pun) beside it. Leading the pack in cannabis clients was KPMG Canada. Here’s a snapshot from 2019 that shows how much cannabis companies were paying to which auditors: A look at 40 Canadian cannabis companies and what they paid to their auditors over their past fiscal year.
CPA Practice
APRIL 29, 2024
By Sarah Lynch, Inc. (TNS) Women are still struggling in the workplace—and not just when it comes to the pay gap. Half of women say their stress levels have increased from a year ago, according to a recent survey of 5,000 women across 10 countries from Deloitte. Meanwhile, nearly half said they were “concerned or very concerned” about their mental health—one of their top three concerns, along with financial security and their rights.
inDinero Accounting
MAY 1, 2024
You’ve put effort into managing your small business, but are you truly aware of your company’s financial pulse? Consistent financial reporting can be the difference between merely surviving and thriving in the competitive business landscape. These reports offer a window into your business’s financial health, guiding you to make well-informed decisions that could shape your company’s future.
Accounting Today
MAY 1, 2024
The U.S. Treasury Department will unveil the final version of new rules limiting a popular tax credit for electric car buyers as soon as Friday as the Biden administration races to complete regulations ahead of the November election.
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
APRIL 30, 2024
Working together can bring out the best — and worst — in families. Here are some issues business valuation experts consider when appraising these entities. Family members on the payroll Family-owned businesses aren’t usually run like large public companies. For starters, “family business” and “nepotism” often go hand in hand. Some business owners hire family members because they’re perceived as more trustworthy, while many hire them out of obligation or to satisfy a desire to pass the business o
Going Concern
APRIL 29, 2024
This past weekend’s weekend discussion: ‘Open to Work’ on LinkedIn, Yay or Nay? ‘Yay’ as in “yay I found a better job!” Also want to include this link from Footnotes in case you missed it, we’ll do a full story later: PIPCA Survey Sheds Light on What Existing CPAs Want and Why Some are Leaving [ INSIDE Public Accounting ] The report is found here: CPA Talent Retention 2024: Keeping Your Best Performers And now new news.
Insightful Accountant
APRIL 28, 2024
Microsoft says that the solution to the problem of having been unable to send emails from QuickBooks after updating Outlook Desktop to Version 2402 has now been resolved.
Xero
APRIL 30, 2024
We want to make sure the needs of small businesses and their advisors are met well into the future — and that means providing you with easier access to tools that help you run your business efficiently. That’s why we’re refreshing our subscription plans for small businesses and partners, which will be available from 1 July 2024. We’ve put a lot of consideration into creating streamlined plans with bundled tools and features, to help solve your most important accounting and people managemen
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
Accounting Today
APRIL 30, 2024
A staff report from the Public Company Accounting Oversight Board recommends digging into the factors underlying firm deficiencies.
RogerRossmeisl
APRIL 28, 2024
When employees commit fraud, they generally try to keep the schemes going as long as possible by concealing their activities from others. How successful thieves are at concealment depends largely on their identities, their roles within their organizations and the type of fraud they commit. To uncover potential fraud in your organization and prevent financial losses, it helps to familiarize yourself with common perpetrator characteristics and the methods occupational thieves use to conceal their
Going Concern
APRIL 25, 2024
As of April 11 of this year, if a foreigner wants a Skilled Worker visa to work in the UK they must earn a minimum of £38,700 (about $48k USD), up from the prior minimum of £26,200, unless the work falls under a small category of jobs on the shortage occupation list like health and care workers, graphic designers (take that, Canva), and veterinarians.
CPA Practice
APRIL 30, 2024
[ State CPA Societies in Action is a series of articles spotlighting the varied educational, advocacy, networking and professional activities of the state CPA societies across the U.S.] The Oklahoma Society of Certified Public Accountants represents professionals in the Sooner State on a timely, responsive, and creative basis, by promoting the public image and professionalism, protecting the interests and designation of CPAs, providing member services, including quality education and opportuniti
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Anders CPA
APRIL 29, 2024
Wednesday, June 5 at 10:00 am CT Join advisors from the Startup and Entrepreneurial Services team to discuss findings from the inaugural Anders Startup Funding and Outlook Survey Report The St. Louis startup community is growing, putting the region on track to become another powerful startup hub for the country. To continue that trajectory, it’s essential to check in on the startup ecosystem to help determine if pain points have developed into larger obstacles that impede the region’s growth.
Accounting Today
APRIL 29, 2024
Notice 2024-36 announces the second round of credit allocations for a program to allocate the remaining $6 billion in credits.
RogerRossmeisl
APRIL 28, 2024
Most people are genuinely appreciative of inheritances, and who wouldn’t enjoy some unexpected money? But in some cases, it may turn out to be too good to be true. While most inherited property is tax-free to the recipient, this isn’t always the case with property that’s considered income in respect of a decedent (IRD). If you have large balances in an IRA or other retirement account — or inherit such assets — IRD may be a significant estate planning issue.
Insightful Accountant
APRIL 25, 2024
Insightful Accountant is looking for a few Good ProAdvisors who want to contribute an analysis of apps we intend to compare. Do you like to review apps, more importantly, do you regularly work with a few great apps, you might be our Pros.
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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.
CPA Practice
APRIL 29, 2024
The IRS issued new guidance on Monday that provides additional information about the second allocation round under the Qualifying Advanced Energy Project Tax Credit program. The program, which was re-established by 2022’s Inflation Reduction Act, renews and expands a tax credit created in 2009 through the American Recovery and Reinvestment Act. It provides incentives for clean energy manufacturing and recycling, industrial decarbonization, and critical materials processing, refining, and recycli
IgniteSpot
APRIL 29, 2024
Mastering the art of accounting is akin to discovering a treasure map to real wealth in the entrepreneurial journey. Yet, for many business owners in their prime years of building and scaling, accounting remains the least favored aspect of their venture. This is not due to a lack of effort or ambition but often because of a broken accounting system that silently drains their business's potential.
Accounting Today
APRIL 30, 2024
The number of individual income tax returns received rose by 16.34% in the final week of tax season.
RogerRossmeisl
APRIL 28, 2024
If your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow for significant tax-deductible contributions. For example, if you’re self-employed and set up a SEP-IRA, you can contribute up to 20% of your self-employment earnings, with a maximum contribution of $69,000 for 2024 (up from $66,000 for 2023).
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