Withum

OCTOBER 11, 2023

The Internal Revenue Service (“IRS”) released Notice 2023-63 , on September 8, 2023, providing guidance surrounding the requirement to capitalize Section 174 research and experimental (“R&E”) expenditures for the 2022 taxable year.While many tax accountants and business professionals welcome the additional guidance, the timing was not ideal.

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MyIRSRelief

MAY 15, 2024

Common 990 Compliance Issues: preparation & planning Misclassification of volunteers as employees, leading to potential payroll tax liabilities. Improper reporting of reimbursements under accountable plans, as outlined in IRC Section 62(c). and foreign tax laws.

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ThomsonReuters

OCTOBER 19, 2023

The law was largely ignored by accounting professionals at first. This presents a unique opportunity for accounting firms and tax accounting professionals to enhance their revenue streams by diversifying their service offerings. Who does the Corporate Transparency Act affect?

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CPA Practice

MAY 30, 2023

Additionally, and this is partly anecdotal, candidate numbers were likely higher than would have been usual from about 2007 to 2009-ish, as the economy circled the drain and accounting was one of the only professions in which one could find a job fairly easily.

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Simple Accounts

MARCH 30, 2022

Accounting is one of the most well-liked professions. The number of students choosing commerce as a major in college and accounting-related employment is on the rise. Companies, both big and small, are looking for the finest accountants. . Companies, both big and small, are looking for the finest accountants. .

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CPA Practice

SEPTEMBER 6, 2023

From the advent of first-to-market generative AI systems like ChatGPT, to highly specialized, accounting-focused systems, proponents of AI are fervent in their belief that the technologies will dramatically improve client services, firm management, small business accounting and many other areas of operations.

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inDinero Accounting

APRIL 9, 2021

Seeing the cash-in and cash-out every month is reassuring, but you’re making the change in accounting method because your company’s growth depends on it. You are familiar with the pros and cons of cash versus accrual accounting. At the end of the day, you want to know how an accounting methodology that sounds like more time (i.e.,

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ThomsonReuters

APRIL 18, 2023

When there are errors in financial reporting, U.S. accounting standards require prior statements to be corrected and the corrections to be disclosed. The best approach, of course, is to prevent financial reporting errors before they occur. What are financial statement errors?

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inDinero Tax Tips

DECEMBER 13, 2020

There’s a process for netting the different types (long-term, short-term, gains and losses) that seems a little tricky at first— talk to a tax accountant to help detangle the process for you. Capital gain rules, briefly sketched in this blog, also apply to personal taxes which include pass-through entities.

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Going Concern

AUGUST 25, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. The accounting industry is in a state of transition. The influx of private equity, labor shortages, and remote/hybrid work have all impacted accounting firms to varying degrees.

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