TaxConnex
MAY 7, 2024
There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Leveling the field. A bill that would raise the online sales tax in Alabama is progressing with state lawmakers. The current Alabama sales tax is 8% for online purchases, the same as for purchases at the state’s brick-and-mortar stores.
BurklandAssociates
MAY 7, 2024
Mitigate financial risks at your startup and help ensure a smooth path towards sustainable growth and long-term success with these tips. The post Protect Your Startup’s Finances: 12 Proactive Risk Management Tips appeared first on Burkland.
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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.
Accounting Today
MAY 6, 2024
Accounting firms that have embraced artificial intelligence are primarily using it to analyze documents, automate tasks and bolster client communication.
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.
Withum
MAY 2, 2024
In a landmark move, the Drug Enforcement Administration (DEA) announced on April 30, 2024, that it will initiate the process of rescheduling cannabis from Schedule I to Schedule III under the Controlled Substances Act (CSA), effectively recognizing its medical value and opening the door for more research and legal access. The decision comes after years of pressure from advocates, lawmakers, and scientists who have argued that the current classification of cannabis as a highly dangerous, addictiv
Insightful Accountant
MAY 5, 2024
While Intuit has sunset the Trainer/Writer network and gone back to the drawing board on how to provide training and education for the QuickBooks Community, Insightful Accountant wants to thank all Trainer/Writer Network members.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Patriot Software
MAY 2, 2024
Canton, OH Patriot Software is proud to announce that its founder & CEO, Mike Kappel, has been selected by Ernst & Young LLP (EY US) as a finalist for the EY Entrepreneur Of The Year® 2024. Kappel is among 29 entrepreneurs selected by an independent panel of judges.
Accounting Today
MAY 3, 2024
Sen. Ron Wyden, in a letter, demanded that TurboTax refund customers who, due to a software glitch, were inappropriately encouraged to take non-optimal choices, resulting in higher taxes.
Ronika Khanna CPA,CA
MAY 5, 2024
Accounting software has come a long way in the past few years. Although a good bookkeeper can be invaluable, It has become fairly easy for business owners and their support staff to take on the responsibility of entering day to day transactions while they employ accountants for the more complex aspects of their accounting and tax. When using accounting software such as Quickbooks Online , the majority of transactions relate to invoicing customers, supplier bills and categorizing expenses that ha
Insightful Accountant
MAY 3, 2024
May is Military Appreciation month in the US and we at Insightful Accountant want to say "Thank You" to those who are serving or have served, and to their families for their service.
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CPA Practice
MAY 1, 2024
The Board of Trustees of the Financial Accounting Foundation ( FAF ) is seeking nominations for new members to join the Financial Accounting Standards Advisory Council ( FASAC ) for an initial one-year term beginning January 1, 2025. The FASAC is the primary advisory body to the Financial Accounting Standards Board ( FASB ). The FASAC consists of approximately 35 members who represent a broad cross section of the FASB’s constituency.
Patriot Software
MAY 2, 2024
Are all of your employees eligible to receive overtime pay? Some employees are exempt from overtime pay and minimum wage laws. Exempt employee qualifications are determined by the Fair Labor Standards Act (FLSA). To run payroll correctly, you need to be familiar with exempt employees. What is an exempt employee?
Accounting Today
MAY 2, 2024
A set of polls has found that leaders expect that generative AI will lead organizations to actually increase, not decrease, their headcount, at least in the short term.
CTP
MAY 6, 2024
When the Tax Cuts and Jobs Act of 2018 introduced a new $10,000 cap on state and local tax (SALT) deductions, taxpayers living in areas with high state-level taxes felt the hit. Highly-impacted states like California, Connecticut, Illinois, New Jersey, New York, or Pennsylvania quickly began searching for ways to provide relief to their taxpayers. Only individual taxpayers filing itemized deductions Schedule A are affected by this limitation.
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.
Ronika Khanna CPA,CA
MAY 3, 2024
Despite your (and/or your accountants’)best efforts , occasional errors or omissions relating to your personal tax return are unavoidable. It is possible that you forgot to include a tax slip, overstated your expenses or was unaware of a specific tax credit. Luckily there is fairly simple mechanism that allows you to change your tax return, which can either be done online or by filling out a form and mailing it in.
CPA Practice
MAY 1, 2024
The big takeaway from the new guidance issued by the Treasury Department and the IRS on Tuesday regarding the Sustainable Aviation Fuel (SAF) credit is the role farmers will play in the production of clean jet fuels and reducing emissions from the aviation sector. “[This] is an important steppingstone as it acknowledges the important role farmers can play in lowering greenhouse gas emissions and begins to reward them through that contribution in the production of new fuels,” U.S.
Patriot Software
MAY 6, 2024
As a small business owner, you need to conduct regular audits to ensure your records are accurate. Although many business owners dislike the idea of auditing, audits can be beneficial to your company. Learn more about the different types of audit below.
Accounting Today
MAY 3, 2024
The Securities and Exchange Commission charged the fast-rising auditing firm with deliberate, systemic failures to comply with PCAOB standards for audits and reviews.
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
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.
Going Concern
MAY 7, 2024
In its desperate quest to appear as though it does something of value to capital markets, the PCAOB is considering putting company names to inspection report deficiencies according to a recent story by Wall Street Journal. Currently, the PCAOB refers to clients as Issuer A, B, C etc. and includes only the client’s industry. Here’s an example from KPMG’s sketchy 2022 PCAOB inspection report : A Part IA deficiency like the one in the screenshot above is of such significance that
CPA Practice
MAY 6, 2024
The IRS on May 3 issued frequently asked questions in Fact Sheet 2024-19 about a provision in SECURE 2.0 that provides special rules relating to distributions from retirement plans and IRAs and for retirement plan loans for taxpayers impacted by federally declared major disasters. Prior to the changes made by SECURE 2.0, which was enacted in December 2022, there was no disaster relief allowing these distributions and loans that applied generally for all major disasters.
Patriot Software
MAY 6, 2024
Do you ever pay for business goods and services before you use them? If so, these types of prepaid expenses require special attention in your books. You need to create a prepaid expenses journal entry. So, do you know how to record a journal entry for prepaid expenses? Don’t panic if you don’t.
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Accounting Today
MAY 3, 2024
Internal audit hiring manager are looking for recent college grads who have learned about accounting and auditing, but also technology like data analytics.
GrowthForceBlog
MAY 1, 2024
8 min read April 30th, 2024 As a business leader, your job is not only to make decisions on behalf of your company. Your job also entails leading the people in your company. Key Takeaways What Is the Adaptive Leadership Style: In adaptive leadership, problems or challenges are separated into two different categories, technical problems and adaptive problems.
Going Concern
MAY 6, 2024
Remember the Deloitte survey a while back that found Gen Zers were more than twice as likely as boomers to have their social media account hacked * (17% vs. 8%) and three times more likely than boomers to fall for an online scam (16% vs. 5%)? A refresher: Deloitte Survey Finds Zoomers Are 3x More Likely to Fall For Scams Than Boomers So Why Don’t More of Them Work at Deloitte Today EY released the results of its 2024 Human Risk in Cybersecurity Survey and Gen Z workers who use work-issued
CPA Practice
MAY 2, 2024
Hosts Randy Johnston and Brian Tankersley, CPA, look at Datamatics , a digital technologies, operations, and experiences company that enables hundreds of global enterprises to go “Deep in Digital” to enhance their productivity and customer experience to create a sustainable competitive advantage. Use the video player below to watch, or the podcast player below to listen to the podcast.- – Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcripti
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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.
Patriot Software
MAY 6, 2024
To grow your business, you need to track financial information and measure performance. One metric you should be keeping an eye on is your business’s profit margin. Read on to learn how to calculate profit margin for your company and ways to improve your margins. What is profit margin?
Accounting Today
MAY 2, 2024
The pace of small business job growth slackened in April, but hourly earnings ticked up to 3.34% for the month, ending a nearly two-year slowdown, according to payroll processor Paychex.
Insightful Accountant
MAY 7, 2024
Insightful Accountant is proud to announce our Top 50 International ProAdvisors for 2024. Congratulations to this year's International award recipients.
SkagitCountyTaxServices
MAY 2, 2024
Did you know the Financial Crimes Enforcement Network (FinCEN) has a YouTube page ? Guess everyone’s got one these days, huh? I bring this up because, on Tuesday, April 30th, they are hosting a little information-giving session on their channel about Beneficial Ownership Income reporting. I’ve mentioned BOI reporting previously as it’s something all corps and LLCs will need to make sure they are complying with by the end of the year.
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