TaxConnex

FEBRUARY 6, 2024

Sales tax is not something top of mind for most executives, but it is something that the majority of businesses will have to manage at some level. No matter the size of your business, if you are selling a taxable product or service and establish nexus in specific states or jurisdictions, then you have a sales tax obligation. While it is not meant to be a burden on the seller, many businesses have been left scrambling to understand how to manage the complex process of sales tax compliance.

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Sales Tax Technology auditor 212

Canopy Accounting

FEBRUARY 6, 2024

Busy season is upon us. Every year you may be saying the same things…"I start off sticking to a routine but it quickly falls off and I start feeling burned out and tired". Make this the year you are going to make small changes that make a big impact through incorporating mindfulness practices at work. During this session, we will experience practices we can put in place in our day to gain a better understanding of where we are off-balance internally so we can show up better for ourselves and tho

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Start-ups 124

CPA Practice

FEBRUARY 6, 2024

By Evan T. Beach, EA, CFP, AWMA, Kiplinger Consumer News Service (TNS) I’m an IRS enrolled agent, which sounds (sort of) cool and scary. What it actually means is that I am licensed by the IRS to prepare taxes and represent taxpayers, which is not cool or scary. The reality of the situation is that I have the same feelings of unhappiness and annoyance you do every time tax season rolls around.

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Tax income tax tax return tax preparation 111

Going Concern

FEBRUARY 6, 2024

Hey guess what, everyone? We have fresh research that shows the 150 hour CPA licensure rule decreases the number of Black and Hispanic entrants to the profession. In this case, a 26% drop. Add this to the existing body of evidence that demonstrates two things: the 150 hour rule does not improve the quality of licensed CPAs (“ Occupational Licensing and Accountant Quality: Evidence from the 15 -Hour Rule ” by John Barrios) and the 150 hour rule is actively preventing minorities from p

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cpas CPA accounting and finance audit 117

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4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

Finance

Accounting Today

FEBRUARY 6, 2024

The Internal Revenue Service revised its frequently asked questions on the Form 1099-K to alleviate confusion this filing season.

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Tax 129

Accounting Today

FEBRUARY 6, 2024

The local environment for debt and income, cost of living, housing, and taxes can make a big difference when it comes to putting away money.

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Tax 121

ThomsonReuters

FEBRUARY 6, 2024

Jump to: When to consider an automated tax software solution Benefits of sales tax automation software What if you don’t have a complex business model? Amidst a rapidly changing regulatory landscape, it can seem more challenging than ever to understand your sales tax obligations in every jurisdiction in which you do business. The tax complexities of interstate and international commerce are why most companies use some form of automated software to help track and calculate their organizatio

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Sales Tax audit accountant 98

Accounting Today

FEBRUARY 6, 2024

A new analysis forecasts a higher return on investment from the Inflation Reduction Act of 2022, but only if the funding isn't reduced.

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Tax 121

Patriot Software

FEBRUARY 6, 2024

As a small business owner, one of the first decisions you make is deciding between the different types of business structures. But, choosing between business structures can be intimidating and confusing. Before you decide what business structure type to use for your small business, understand your options.

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accountant accounted Account 96

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

accounting and finance

Accounting Today

FEBRUARY 6, 2024

This year's roster of great new tools for accountants is heavily inflected with AI.

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accountant accounted Account Technology 144

Going Concern

FEBRUARY 6, 2024

Announced yesterday in an excessively flowery press release, Baker Tilly announced a “strategic investment” from private equity firms Hellman & Friedman and Valeas Capital Partners. The investment is expected to close in early 2024. According to the press release, Baker Tilly has doubled its workforce in the past five years and the deal will help them continue to grow in all the ways a large accounting firm can.

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cpa firm accounting and finance public accounting Legal 104

KROST

FEBRUARY 6, 2024

The Internal Revenue Service has published the 2024 Estate and Gift Exemption Amounts. The Unified Exclusion Amount is $13,610,000 and the Annual Gift Exemption Amount is $18,000. In addition to the annual gift exemption, payments made directly to medical providers or educational institutions are considered non-reportable. Married couples, will be able to gift up to Read the full article.

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Education Tax 92

Insightful Accountant

FEBRUARY 6, 2024

Are you calculating 'Net Retention' to determine the health of the subscription-based businesses you advise? If not, you should be.

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Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

bookkeeping

Accounting Today

FEBRUARY 6, 2024

The International Auditing and Assurance Standards Board is proposing to toughen its rules for requiring auditors to look for signs of fraud in a client's financial statements.

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auditor audit financial statements 94

CPA Practice

FEBRUARY 6, 2024

The landscape of public accounting experienced an unprecedented shakeup in 2023, marked not by the usual suspects of annual updates or technological advancements, but by a surge of interest from an unexpected source: private equity (PE). With a series of high-profile investments in large accounting firms and a quieter but no less significant foray into the accounting software sector, PE firms have unmistakably cast their eyes towards an industry traditionally characterized by its cautious, measu

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public accounting Account accountant accounted 75

Accounting Today

FEBRUARY 6, 2024

And what to do if your client hasn't received their abatement from the IRS.

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Tax 121

Mark Lee

FEBRUARY 6, 2024

One thing that remains as challenging for accountants today as it was when I was in practice is that of converting prospects into valued clients. It’s not that you need flashy pitches or to make exaggerated claims; it’s about building a genuine connection and trust. Picture this: you’re face-to-face with a potential client, you’re tempted to showcase your expertise and talk about your services.

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Non-Profits accountant accounted Account 98

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By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

auditor

Accounting Today

FEBRUARY 6, 2024

Quarterly results at MicroStrategy Inc. will likely get more volatile under a recently approved accounting rule change that requires valuing the digital asset at market prices.

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Account accountant accounted accounting standards 66

CPA Practice

FEBRUARY 6, 2024

Investing in technology is a key priority for accounting firms as they move into 2024, while m itigating the ongoing talent shortage and keeping pace with new laws continue to cause challenges for many within the profession. This is according to findings from the 2024 State of Accounting Firms Trends Report released by Caseware International , a global leader in cloud-enabled audit, financial reporting and data analytics solutions.

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accounting firms Technology Account accountant 64

Anders CPA

FEBRUARY 6, 2024

Once your business reaches 80 to 120 employees, it must undergo an audit of its 401(k) plan , but securing a 401(k) audit firm’s services can be a challenge in certain locations. Engaging a local firm to handle the audit traditionally results in the auditor’s presence in your office, which can cause disruptions to daily operations. Remote 401(k) audit services offer businesses benefits such as enhanced security, access to experienced professionals and technology-driven convenience.

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audit auditor Education Legal 64

CPA Practice

FEBRUARY 6, 2024

State CPA Society News & Updates is a selection of recent announcements and initiatives by CPA associations in the United States and its territories. The Arkansas Society of Certified Public Accountants (ARCPA) announced the 2024 ARCPA Student Education Fund Golf Tournament, which will take place on Monday, May 20, 2024 at the Maumelle Country Club.

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CPA Illinois Arkansas Idaho 64

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Accounting firms must embrace digital transformation to stay competitive. From improving efficiency and client experience to ensuring data security, digital tools offer the edge needed in a digital-first world. Discover how Fincent can streamline your transition. The accounting industry faces a digital revolution. As technology reshapes business, firms must adapt or risk obsolescence.

Tax

Accounting Today

FEBRUARY 6, 2024

The Utah-based company that invests in and acquires small accounting firms has received an $85 million minority funding round to support its expansion.

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Utah Account accountant accounted 69

LSLCPAs

FEBRUARY 6, 2024

At this time of year, we like to let our clients, who own or are in the market to buy Electric Vehicles (EVs), know about the latest Clean Vehicle Tax Credit rulings. It’s good news. The U.S. Department of the Treasury’s October 6, 2023 press release gives access to the (27-page-long!) guidance that explains the. The post 2024 Clean Vehicle Tax Credits appeared first on LSL CPAs.

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Tax cpas 59

Accounting Today

FEBRUARY 6, 2024

The Senate may not get to the Tax Relief for American Families and Workers Act soon enough to impact returns.

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tax return Tax Finance 89

Accounting Seed

FEBRUARY 6, 2024

Columbia, Md. [February 6, 2024] — Accounting Seed , the #1 accounting solution built on the Salesforce Platform, unveiled its first product offering of the new year, AP (Accounts Payable) Automation. The launch of the new product highlights Accounting Seed’s commitment to helping small-to-mid sized companies drive efficiency and maximize growth by running their accounting and payable processes within a single platform.

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AP Automation Technology AP Processes Accounts Payable Automation 59

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Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.

Expense Management

Insightful Accountant

FEBRUARY 6, 2024

Discover the new IRS tool to monetize clean energy credits, allowing businesses, tax-exempt organizations, and government entities to apply these options to specific tax credits, even without taxable income.

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business tax Government Tax 52

Withum

FEBRUARY 6, 2024

When one thinks of environmental, social and governance (ESG) investing, one should think of transparency. In other words, they should think of additional sources of information that help identify unseen risks and justify shareholder value. This investing style is known as ESG integration. Private equity investors use ESG integration as a value-creation tool by analyzing material and non-financial factors during due diligence and ongoing monitoring.

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New Jersey public accounting Government accountant 52

ThomsonReuters

FEBRUARY 6, 2024

Jump to: What is direct tax? Examples of direct tax Understanding tax provision Understanding state apportionment Differences between direct and indirect taxes When a taxpayer must pay taxes directly to the government, meaning the taxes cannot be shifted to other entities or individuals, it is known as direct tax. This is the opposite of indirect tax.

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