Tue.Mar 26, 2024

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Here’s the Projected Pay Range for Seven Accounting and Tax Roles in 2024

CPA Practice

Salaries for an accountant are expected to range, depending on experience, from $57,719 to $104,788 in 2024, as the balance of power tilts slightly back toward employers with the Great Resignation winding down , according to the 2024 Salary Guide from staffing agency Randstad USA. “Recent years have seen a talent market dominated by rising salaries, candidate scarcity, and the vast majority of power sitting with the candidates themselves, rather than employers.

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6 Steps to Getting Sales Tax Right in 2024

TaxConnex

We are at the end of Q1 of 2024 and continue to discuss how to ensure your business is set up to get sales tax right in 2024. If you’re like the over 49% of businesses who participated in our annual sales tax trends survey and are unsatisfied with the way you are managing sales tax, then you’re in the right place. The complexities surrounding managing your sales and use tax obligations continue to evolve and perplex businesses of all sizes.

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Tax season so far: Looking for answers

Accounting Today

Taxpayers are accessing the IRS website much more this year than last to find the answers they need, with more than 410 millions visits through March 15.

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How Miami Became a Hub of PPP Fraud After Pandemic

CPA Practice

By Jay Weaver, Miami Herald (via TNS). When the coronavirus threatened to turn the nation into a graveyard of failed businesses, Congress rushed through an emergency loan program: about $800 billion — roughly the size of the annual defense budget — was doled out in a matter of months to millions of companies. There were few strings attached: the U.S.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

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.

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Tax the rich is actually a popular bipartisan stance, poll shows

Accounting Today

Fully 69% of registered voters in seven swing states say they favor higher taxes on billionaires, and they support higher income taxes on people who make more than $400,000 a year by the same margin.

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IRS: Time is Running Out to Collect Over $1 Billion in Tax Refunds For 2020

CPA Practice

By Alvin Buyinza, masslive.com (TNS) Nearly 940,000 Americans have unclaimed tax returns from 2020 and face a May 17 deadline if they want to get it back, the IRS announced on Monday. Due to the hundreds of thousands of Americans who’ve yet to file their 2020 tax returns, the IRS estimates there are more than $1 billion in unclaimed tax refunds, the agency stated in a news release.

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IRS’s ERC Crackdown Has Stopped $1 Billion in Fraudulent Claims

CPA Practice

By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) In a recent announcement, the IRS revealed ongoing efforts to tackle erroneous Employee Retention Tax Credit (ERC) claims. The agency has protected over $1 billion in revenue in six months by increasing enforcement surrounding questionable ERC claims driven by aggressive and misleading marketing.

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Xero invoicing: how we’re building a smarter, more flexible future

Xero

We recently announced that we’ll be retiring the older version of our invoicing product — classic invoicing — on 2 September 2024. We know you have plenty of questions and concerns about this change, so we thought we’d share an update on what’s happening behind the scenes. The good news: our teams are busy building a new invoicing product that is going to give you far more flexibility and customisation in the future, with beautiful checkout experiences and unlimited payment methods.

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What the Antitrust Case Against Apple Means for Everyone with an iPhone

CPA Practice

By Wendy Lee, Los Angeles Times (via TNS). Cheaper app subscriptions. Additional payment options. Greater freedom for app developers on the App Store. More consumer choice. Those are some of the possibilities that consumer advocates hope will come to pass for users of Apple iPhones, iPads and other products if the U.S. Department of Justice wins its long-awaited antitrust lawsuit against the Cupertino, California, tech giant.

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Mayo-on-Fries Mazars Might Join KPMG and Deloitte in the Exam Cheating Hall of Shame

Going Concern

Last July, Dutch news revealed that least 500 staff at KPMG Netherlands were cheating of the same kind that earned our KPMG a $50 million fine from the SEC in 2019 that, to be fair, was lumped in with much worse attempts to cheat on PCAOB inspections. When the cheating at KPMG NL went public, it was suggested the PCAOB may get involved because they are the United States military of accountancy services in the world.

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How to Build the Ideal HR Team

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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Florida Man Gets Prison for Not Paying $900K in Employment Taxes

CPA Practice

A Florida man has been sentenced to 30 months in prison for failing to pay over taxes that he withheld from his employees’ paychecks. According to court documents and evidence presented in court, Timothy Meade, of Fort Myers, Florida, operated a prison phone call service under several business names. From 2011 through 2021, he withheld taxes from his employees’ paychecks but did not pay over to the IRS the full amount of the taxes he withheld.

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Practicing Efficiency: The Power of One-Piece Flow in Your Workflow

Insightful Accountant

Have you ever heard of one-piece flow? The concept of one-piece flow stands as a beacon of efficiency. Ben Coleman explains one-piece flow and how to apply it to our daily work routines.

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California and San Francisco Bay Area Saw Job Losses in February

CPA Practice

By George Avalos, The Mercury News (via TNS). The Bay Area and California both lost thousands of jobs during February, a disquieting report that raises questions about the strength of the economy in the state and this region. The job losses in the nine-county region and statewide suggest that the hiring boom that began in the final few months of 2023 and extended into January of this year has been interrupted, at least for now.

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MassCPAs finds DEI problems in accounting profession

Accounting Today

The Massachusetts Society of CPAs released a report that identified widespread racial and ethnic disparities in the profession.

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Planning Your Restaurant's Path to Profitability

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.

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Florida Bans Kids Under 14 from Using Social Media

CPA Practice

By Lawrence Mower , Tampa Bay Times (via TNS). Florida governor Ron DeSantis signed a bill on March 25 blocking most kids from social media websites, setting up an expected court battle that could prevent the legislation from ever taking effect. House Bill 3, passed by lawmakers with bipartisan support this month, forbids kids 13 and younger from creating social media accounts and requires the platforms to seek out and remove their profiles.

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Foundational skills for young accountants

Accounting Today

Experts highlight tech savviness and strong communication as key skills for early-career accountants.

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Southwest to Offer First Overnight Flights from Vegas to Hawaii

CPA Practice

By Laurie Baratti, TravelPulse (via TNS). For the first time in its 57-year history, Southwest Airlines is planning to operate overnight flights, the first being from Las Vegas and Hawaii. While no formal date has been set for the launch of the late-night departures, Southwest’s Chief Commercial Officer, Ryan Green, stated this week that the carrier is aiming to start them in about two years.

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IRS investigating Ohtani's former interpreter

Accounting Today

Ippei Mizuhara and an alleged bookmaker are under criminal investigation by the Internal Revenue Service, the agency confirmed.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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Benefits of Having a QuickBooks Online Certified ProAdvisor

KROST

One of the most used accounting software today is QuickBooks. Having a QuickBooks certified ProAdvisor can make a huge difference in achieving your financial goals. Here are a few benefits of having a trained professional on your side. Expertise: Certified ProAdvisors undergo thorough training to master the latest QuickBooks Online tools. You can trust they Read the full article.

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Three-year-old startup bets AI can help fix accountant shortage

Accounting Today

Fieldguide raised $30 million in funding led by Bessemer Venture Partners to further its goal of using AI to alleviate an acute shortage of accountants worldwide.

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Nonprofit Chart of Accounts: Samples and How to Get Started

GrowthForceBlog

7 min read Just four financial reports are required for nonprofit organizations: the statement of financial position (balance sheet), statement of activities (income statement), statement of cash flow, and statement of functional expenses. Notably absent is the nonprofit chart of accounts. While this financial report is not required, maintaining a chart of accounts is highly beneficial to your organization, its management, its operation, and its oversight by the board of directors.

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3 actions will make you a better people manager

Accounting Today

In the fast-paced ecosystem of accounting, managers often find themselves navigating a tightrope.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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IRS Launches Probe Into Fired Ohtani Interpreter’s Theft and Gambling Scandal

CPA Practice

The IRS is investigating the recently fired interpreter for Los Angeles Dodgers star Shohei Ohtani after he was implicated in a scandal involving illegal sports gambling and significant financial theft from his longtime friend. The Associated Press reported on March 21 that interpreter Ippei Mizuhara and his alleged bookmaker Mathew Bowyer are under criminal investigation through the IRS’s Los Angeles Field Office.

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Nigeria announces tax charges against Binance

Accounting Today

The revenue service accused Binance of nonpayment of VAT and company income tax, failure to file returns, and complicity in aiding customers to evade taxes.

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How New Retirees Can Navigate Debt Challenges

CPA Practice

By Elizabeth Crumbly – The Atlanta Journal-Constitution (via TNS). There’s a tipping point when older adults’ willingness to take on debt and their ability to manage it typically changes significantly: It’s called retirement. New cars, mortgage payments, and medical debt that once seemed run-of-the-mill can look daunting as this transition approaches, but financial planning experts offer strategies to offset the challenges.

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Increase Revenue and Quality of Care by Outsourcing Provider Data Management

Anders CPA

The importance of data management in health care environments can’t be overstated. Especially during complicated processes like credentialing, license renewal, and provider enrollment , provider data accuracy is essential to prevent costly credentialing delays, potential termination of delegated contracts or other penalties. Utilizing a data management service provider with experience in the health care industry can help keep certain credentialing and provider enrollment functions in-house while

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

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.

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Should You Rehire a Boomerang Employee?

CPA Practice

Millions of people left their jobs in the last few years, hoping to find greener grass on the other side. The “Great Resignation,” also called the Great Renegotiation or the Great Reshuffle, saw nearly 4.5 million people quit per month on average between November 2021 and April 2022. Some employees realize they left a good thing and may want to return to the job they left.

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Daniel Snyder’s Donation of His Mansion

Withum

I read that American businessman Daniel Snyder is donating his $35 million mansion to the American Cancer Society (ACS) which is an admirable thing to do. However, I also read how it was going to be done and that precipitated this blog. I hope he reads this beforehand since it does not seem like it is being done correctly from what I read. I do not know Dan Synder personally and only know what he is doing from the news.

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State CPA Societies in Action: Arizona Society of CPAs

CPA Practice

Celebrating its 100 th birthday in 2023, the Arizona Society of CPAs works to create opportunities for its members, while working to promote the interests of Arizona CPAs with governments and regulatory agencies and organizations. [ State CPA Societies in Action is a series of articles spotlighting the varied educational, advocacy, networking and professional activities of the state CPA societies across the U.S. ] The ASCPAs mission is to create professional opportunities for members and prospec

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March business news wrap!

Reckon

What’s been cracking in the world of business throughout March? We nailed down the most pressing news for Aussie small businesses (that might actually affect you). We have the ATO chasing tax debts, the Fair Work Commission making decisions on the national minimum wage, and more steadying of interest rates and inflation. Let’s dive in. The ATO backtracks and calls in previously ‘written off’ tax debts In a move that has raised eyebrows and stoked backlash from at least two federal Ombudsmen in a

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"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.