BurklandAssociates
MAY 21, 2024
Effective team and culture-building are keys to thriving in this new era of remote and hybrid work. The post From Isolation to Integration: Strengthening Team Culture at Your Remote Startup appeared first on Burkland.
Going Concern
MAY 22, 2024
Stephen Foley at Financial Times wrote something today that may be of interest to high school freshmen bound for the CPA track one day, an article that suggests the AICPA is giving up the fight to save 150 hours. The leaders of the US accounting profession have signaled they could cut the education requirements for becoming an accountant, amid growing alarm about a shortage of new recruits.
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RogerRossmeisl
MAY 16, 2024
There are several financial and legal implications when adding a new partner to a partnership. Here’s an example to illustrate: You and your partners are planning to admit a new partner. The new partner will acquire a one-third interest in the partnership by making a cash contribution to the business. Assume that your basis in your partnership interests is sufficient so that the decrease in your portions of the partnership’s liabilities because of the new partner’s entry won’t reduce your basis
SMBAccountant
MAY 17, 2024
Are you a small business owner seeking expert guidance on accounting practices? Navigating the complexities of financial management is crucial to the success of any business. Establishing a core understanding of key accounting principles not only instills confidence but also ensures compliance with accounting and government regulations. Our checklist will guide you through some key items to consider when setting up your business and best practices for those already in operation.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
Withum
MAY 21, 2024
Withum is excited to share that Brian Bender , Partner and Team Leader of Withum’s Trade Associations and Membership Organizations Team, was named a 40 Under 40 Honoree by the Alexandria Chamber of Commerce. Brian has over 20 years of experience serving trade associations, membership organizations, social clubs, foundations, charities, and numerous other nonprofit entities that include complex consolidations with for-profit subsidiary companies and political action committees.
RogerRossmeisl
MAY 16, 2024
Financial institutions, investment service companies, insurers and creditors generally are required to implement and follow know-your-customer (KYC) policies as part of a larger anti-money laundering (AML) effort. Although most other nonregulated businesses don’t have a KYC mandate, such procedures can help prevent fraud and significant financial losses from criminal activity, among other benefits.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Accounting Today
MAY 22, 2024
The program with third-party tax vendors will continue for another five years despite the IRS's recent Direct File pilot test.
Going Concern
MAY 17, 2024
Sad? Sad prediction: AI and offshoring are going to wreck the accounting profession in the next decade. Combine that with the pain every company has with this function and it’s a recipe for economic disaster. — Michael Girdley (@girdley) May 14, 2024 There are two types of people: those who don’t find this sad (only accountants fall into this category) and those outside of the profession who think bookkeepers and payroll clerks (RIP) are what make up “the accounting profession.
Insightful Accountant
MAY 21, 2024
QuickBooks Online Payroll has recently added a digitized I-9 process that works as part of QuickBooks Workforce. Murph takes you through the steps of using this new functionality.
RogerRossmeisl
MAY 17, 2024
Commencing in 2024, individuals who possess short-term rentals (such as rentals facilitated by platforms like Airbnb) will be required to fill out the newly introduced Form BOE-571-STR, known as the Short Term Rental Property Statement, in order to disclose their business personal property. Business personal property is typically subject to annual reappraisal, unlike real property.
Advertiser: Paycor
There’s a new overtime salary threshold that will impact employers across the country. If you have an employee making less than $43,888 on July 1 or less than $58,656 on January 1, you’re going to have to start paying overtime. Download Paycor’s guide to learn: Which groups of employees are affected? How should you classify employees? Best ways to mitigate risk.
CPA Practice
MAY 16, 2024
Unveiling the findings of its previously announced research into the decreasing supply of new certified public accountants (CPAs), the Illinois CPA Society (ICPAS)—one of the largest state CPA societies in the nation—is pleased to release its 2024 Insight Special Feature, “Re-Decoding the Decline: An Updated CPA Pipeline Report.” In October 2023, ICPAS, in partnership with the Center for Accounting Transformation, convened a coalition of 27 additional research partners—including the American Acc
Accounting Today
MAY 16, 2024
The American Institute of CPAs' Auditing Standards Board voted to approve a set of revisions to the rules for attestation engagements to align them with the AICPA's quality management standards.
Going Concern
MAY 20, 2024
Rise and shine, a new week is upon us. Here’s some stuff going on. PwC Australia is in court arguing that it isn’t responsible for sexual assault that happens off campus after hours and especially not so because the alleged assaulter completed two sexual harassment learning modules. Employers can be found vicariously liable for alleged sexual assault that occurred between employees outside working hours but only where it was connected with their employment, according to a leading emp
Insightful Accountant
MAY 19, 2024
Day 1 of Future Forward begins tomorrow, May 21, 2024 at 11:00 AM Eastern-daylight-savings Time. It a power packed day of education that can impact your clients and your practice.
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
MAY 16, 2024
Many people dream of turning a hobby into a regular business. Perhaps you enjoy boating and would like to open a charter fishing business. Or maybe you’d like to turn your sewing or photography skills into an income-producing business. You probably won’t have any tax headaches if your new business is profitable over a certain period of time. But what if the new enterprise consistently generates losses (your deductions exceed income) and you claim them on your tax return?
CPA Practice
MAY 16, 2024
In its first major deal since receiving a large private equity investment earlier this year, top 10 firm Baker Tilly is set to acquire Seiler, a top 100 accounting and advisory firm based in Redwood City, CA, effective July 1. Financial terms of the deal weren’t disclosed. The move expands Chicago-based Baker Tilly’s presence in the Bay Area and strengthens the services the firm offers to family offices and ultra-high-net-worth clients.
Accounting Today
MAY 17, 2024
The Illinois CPA Society's "Re-Decoding the Decline" report shows that time is the top barrier to CPA licensure, not the 150 credit-hour rule.
Going Concern
MAY 16, 2024
I tried to find a stock photo full of fabulous Gen Z mullets and sour faces, this is the best I can do. When was the last time we covered Deloitte’s yearly Gen Z and Millennial survey? This is its thirteenth year and we’ve been around for almost 15 so…you know what, who cares. It’s been a while. This year’s survey consisted of 22,841 respondents (14,468 Gen Zs and 8,373 millennials) across 44 countries.
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
Insightful Accountant
MAY 16, 2024
Insightful Accountant is hosting Future Forward 2024 next Tuesday and Wednesday. If you are a QuickBooks Pro or Premier user you will want to attend my two sessions on Migration from those products.
RogerRossmeisl
MAY 16, 2024
Let’s say you plan to use a C corporation to operate a newly acquired business or you have an existing C corporation that needs more capital. You should know that the federal tax code treats corporate debt more favorably than corporate equity. So for shareholders of closely held C corporations, it can be a tax-smart move to include in the corporation’s capital structure: Some third-party debt (owed to outside lenders), and/or Some owner debt.
CPA Practice
MAY 16, 2024
Lili , the financial platform designed for small business owners, today announced the launch of a new generative AI tool — Accountant AI — which harnesses businesses’ financial data and the latest industry information to provide business owners with personalized, instant recommendations about their businesses’ finances. Business owners, particularly those running smaller-sized operations, often manage their own finances with no outside help, such as an accountant or bookkeeper.
Accounting Today
MAY 16, 2024
Partly in response to the talent crunch, CFOs are reaching for digital platforms to automate, streamline and spare the highest-value talent for highest-value work.
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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
MAY 21, 2024
We knew this was coming. Two months after the news hit that Grant Thornton is selling a majority stake to private equity firm New Mountain Capital , GT is laying off about 350 people according to an article published by Wall Street Journal late yesterday. The Chicago-based firm is in the process of notifying the workers this week, people familiar with the matter said.
GrowthForceBlog
MAY 21, 2024
8 min read May 21st, 2024 Nonprofit leaders have an altruistic outlook, working toward the best outcomes and trying to see the best in everyone. Unfortunately, this optimistic perspective can leave nonprofit organizations vulnerable to fraud. A study from the Association of Certified Fraud Examiners (ACFE) that looked at more than 2,500 cases of fraud found: Nonprofit organizations accounted for 9% (191 cases) of all the fraud cases examined.
RogerRossmeisl
MAY 16, 2024
If you donate valuable items to charity and you want to deduct them on your tax return, you may be required to get an appraisal. The IRS requires donors and charitable organizations to supply certain information to prove their right to deduct charitable contributions. How can you protect your deduction? First, be aware that in order to deduct charitable donations, you must itemize deductions.
Randal DeHart
MAY 17, 2024
Most businesses understand that customer satisfaction is crucial to their success. Happy clients are likelier to remain loyal, refer others, and leave positive reviews. This trend has only been amplified by social media and online review sites, where negative feedback can spread quickly and damage a company's reputation. In an increasingly competitive marketplace, more than an effective customer service system is needed: you must provide customers with a positive and memorable end-to-end experie
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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
Accounting Today
MAY 17, 2024
Association for Accounting Marketing distributes slew of awards at annual AAM Summit; VSCPA announces officers and board of directors; and more news from across the profession.
AccountingDepartment
MAY 16, 2024
Outsourced client accounting services play a crucial role in helping businesses take control of their financials. These services involve outsourcing the accounting and bookkeeping tasks to a third-party service provider, allowing businesses to focus on their core operations. The role of outsourced client accounting services goes beyond basic bookkeeping; it includes managing accounts payable and receivable, payroll processing, financial reporting, and more.
CPA Practice
MAY 22, 2024
Barry Melancon, CPA, CGMA, has announced that he will to retire on December 31, 2024, from his role as president and CEO of the American Institute of CPAs and CEO of the Association of International Certified Professional Accountants. Combined, the two organizations comprise the world’s largest membership of public and management accountants. Melancon has served in this role for 30 years.
Patriot Software
MAY 21, 2024
Canton, Ohio Patriot Software, a leading accounting and payroll software provider for American businesses, proudly announces the launch of its newest feature for accounting customers: ACH payments on invoices for customers who integrate with Stripe. With Stripe, customers can access two-day timing for ACH settlement, compared to 4-5 business days for standard ACH settlement.
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.
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