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Featured….
Eide Bailly to Merge in Edward White & Co. Next Month
KSM to Join Forces With Cincinnati Firm Cassady Schiller
Wolf & Company Adds Treehouse Technology Group
Many California Tax Refund Debit Cards Have Still Not Been Activated
Contributors….
Randy Johnston
Darren Root, CPA, CITP, CGMA
Becky Livingston
Garrett Wagner
Richard D. Alaniz, JD
Webinars and CPE….
Webcast May 9: Lease Accounting’s Role in Executing Financial Strategy
Webast: Valuation Considerations in Emerging Markets – July 11, 2024
Events….
Accounting
Xerocon 2024 Nashville: Aug. 14-15, 2024
The event will be hosted at the Music City Center, allowing Xero’s community of accountants and bookkeepers from across the U.S., Canada and beyond the chance to connect, as well as options for earning CPE credit.
Accounting
RightNOW Conference 2024
Top influencer keynotes, transformative tech insights and AI innovators converge to elevate the accounting profession at RightNOW 2024. May 14-16, 2024 | Austin, TX.
The Votes Are In: 2024 Readers Choice Awards
The Readers’ Choice Awards give readers the chance to spotlight the technologies they most respect and trust to provide client services, manage their firms, and help their clients run their businesses.
How to Use Microsoft Copilot for CPA Firm Marketing
If you need help with marketing, consider incorporating Copilot into your marketing arsenal for increased efficiency and creativity.
The Accounting Technology Lab Podcast – Review of Digilence Cloud – May 2024
Hosts Randy Johnston and Brian Tankersley, CPA, look at the Digilence Experience Cloud, a cloud-based digital intelligence solution for accounting firms.
Taxes
Cleared for Takeoff? Tax Credits Provide Runway for Cleaner Jet Fuel
Federal tax breaks aim to boost sustainable jet fuel production to curb emissions from commercial planes and meet climate targets.
Eide Bailly to Merge in Edward White & Co. Next Month
The top 20 accounting firm said it was merging with Woodland Hills, CA-based CPA firm Edward White & Co., effective June 1.
Firm Management
KSM to Join Forces With Cincinnati Firm Cassady Schiller
Katz, Sapper & Miller is expanding into Ohio as it is set to add Cassady Schiller, one of the largest CPA firms in Cincinnati, on May 31.
Firm Management
Wolf & Company Adds Treehouse Technology Group
As part of the transaction, Boston-based Treehouse Technology Group brings to Wolf its prized data analytics tool InsightOut.
Taxes
Many California Tax Refund Debit Cards Have Still Not Been Activated
Despite more than 9.5 million debit cards being sent to eligible Californians, millions of dollars in benefits remain unspent.
Technology
Cetrom Launches Complete Managed Security Services Offering for Accounting Firms
Cetrom’s security methodologies help protect client data, networks, systems, and applications from various cyber threats, such as ransomware, phishing, denial-of-service attacks, malware, and unauthorized access.
Accounting
Expensify Offers Unlimited Virtual Cards for Business Spend Management
Expensify members can now issue an unlimited number of virtual cards, providing unmatched flexibility in managing expenses across employees and merchants.
Accounting
A Grassroots Movement for The Regenerative Accountant
Are you prepared to be a part of a movement that’s reshaping our profession for the better by being the change that you want to see in the world?
Tesla Troubles Lead to Cuts of 600 Jobs in Bay Area
In the fifth straight week of layoff announcements, Tesla said it is now concentrating on reducing staff at its Bay Area facilities as part of a larger move to cut jobs globally.
North Texas Has 5 of the 15 Fastest-Growing Small U.S. Cities
As the population booms, more housing units have come with it. Four North Texas counties were in the top 15 for overall housing unit growth.
Payroll
Mortgage Rates Drop to 7.02%
Federal Reserve Chair Jerome Powell said this week that the central bank needs more evidence that higher rates have helped tame inflation pressures.
Technology
IRIS Acquires Utah-Based Swipeclock
Swipeclock is known for its cloud workforce management solutions, such as WorkforceHub and ApplicantStack, for SMBs.
Small Business
Sales Tax Exemption Certificate Management Remains a Risk Factor for Many Businesses
Automation technologies have evolved to meet these challenges, and adept professionals have honed their skills to guide clients through these complex tasks.
Accounting
The Accounting Technology Lab Podcast – Review of MakersHub.ai – May 2024
Brian and Randy look at MakersHub.ai, an automated AP system serving construction, construction services, industrial contractors, automation, and manufacturers, as well as bookkeepers and accounting professionals who serve these clients.
Accounting
New Tech for Accounting Firms Get Spotlight at 2024 Conferences
Solving client issues by leveraging your team member’s expertise is one of the best ways to have a rewarding career and life.
Firm Management
Canopy Secures $35 Million in Funding to Enhance AI-Powered Practice Management for Accounting Firms
The $35 million investment will be channeled towards doubling down on Canopy’s vision for leveraging AI to make firms exponentially more efficient.
Small Business
Lili Launches New Accountant AI for Small Business Financial Management
Lili also partnered with Amazon Bedrock to ensure Accountant AI has robust privacy and security measures to keep businesses’ data safe from potential leaks or misuse.
Accounting Standards
AICPA Auditing Standards Board Approves Revisions to Attestation Standards
The changes are intended to align them with the AICPA standards pertaining to quality management, and related financial statement audit and non-audit standards.
Accounting
Updated CPA Pipeline Report Show Top Reasons Some Decide Not to Pursue Credential
Among all respondents surveyed, “time” emerged as the top-ranked challenge—or deterrent—to becoming a CPA.
Taxes
Biden Seeks to Bolster Solar Manufacturers With Tax and Trade Moves
The measures include expanded tariffs, tax policy guidance, and promises of heightened vigilance for signs of unfair trade.
Taxes
Global Minimum Tax: 3 Key Priorities for U.S. Multinationals
U.S.-based multinational companies can emerge not just compliant but better positioned in a post-global minimum tax world.
Firm Management
TaxDome Rolls Out Client-Facing Status Feature, Elevating Project Transparency and Communication
This addition to the TaxDome platform is designed to enhance transparency, foster trust, and streamline communication between tax firms and their clients.
Firm Management
Baker Tilly to Acquire Top 100 Firm Seiler in California
The deal is the Chicago-based top 10 firm’s first since it announced receiving a large private equity investment in February.
Avantax Acquires GA Investment Management Adding 10-person, $400-Million Practice to Avantax’s Employee-based Model
Since closing the acquisition, $400 million in GA client assets have been onboarded to the Avantax platform, and 10 GA employees are now W-2 employees of Avantax.
Firm Management
Outgoing PwC Boss Already Has a New Gig Lined Up At Citigroup
Tim Ryan, who was to officially step down as PwC US senior partner on June 30, will reportedly leave the firm a month earlier to join Citi.
Payroll
U.S. Inflation Drops in April as Federal Reserve Considers Interest Rate Cut
A measure of underlying U.S. inflation cooled in April for the first time in six months, a small step in the right direction for Federal Reserve officials looking to start cutting interest rates this year.
Legislation
U.S. to Increase Some Tariffs on Chinese Electric Vehicles to 100%
The rate on Chinese EVs will increase from 25 percent to 100 percent this year, while the rate on lithium-ion EV batteries will increase from 7.5 percent to 25 percent.
Auditing
KPMG Leads in IPO Audit Clients for Q1 of 2024
The Big Four firm audited eight of the 46 IPOs, tops among the 20 different firms with at least one IPO audit client in the first quarter.
Payroll
Gen Z and Millennials Are Optimistic and Focused on Purpose in Job Satisfaction Survey
They have cautious optimism that circumstances may improve. Just under a third of Gen Zs and millennials believe the economic situation in their countries will improve over the next year.
Small Business
U.S. Wineries Hopeful about Sustained Sales Growth Over Next 5 Years
While headwinds still persist in the industry, the survey results show wineries are feeling cautiously optimistic about sales growth over the next five years after a challenging destocking phase.
Taxes
IRS Adds Security Protections for CAF Program, Transcript Requests
The risk a compromised CAF number presents to practitioners and taxpayers is prompting these additional security measures.
Technology
Rightworks Unveils Two New Security Offerings
The solutions help accounting firms and small businesses create a WISP to achieve regulatory compliance and resolve security gaps.