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Budgeting is crucial for any business that wants to succeed in the long term. As a business owner or CFO for a small to medium-sized business, you may have experienced the challenges of creating and implementing a budget.
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. A break from holidays? This year, states reportedly will forgo a combined $1.6 billion in tax revenue on sales tax holidays that offer breaks on such goods as back-to-school or disaster-preparedness items. Virginia, to name one state, just voted to reinstate their holiday.
Staffing authority Robert Half has released its much-anticipated 2024 Salary Guide and just like years past, the guide is packed with intel not only on finance and accounting but the greater job market that we really don’t care about. We’ll be deconstructing various aspects of the guide over the next few weeks, for now we’re taking a look at basic public accounting salaries and service lines.
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The IRS announced on September 14, 2023 a processing moratorium on new employee retention credit (ERC) claims. This means that it will not process any newly filed ERC claims until it works through its backlog of more than 600,000 claims, which it estimates will not occur until next year. The moratorium does not mean that the IRS is shutting down the ERC program because the IRS does not have the power to do that; only Congress and the President can do that.
The IRS announced on September 14, 2023 a processing moratorium on new employee retention credit (ERC) claims. This means that it will not process any newly filed ERC claims until it works through its backlog of more than 600,000 claims, which it estimates will not occur until next year. The moratorium does not mean that the IRS is shutting down the ERC program because the IRS does not have the power to do that; only Congress and the President can do that.
Starting salaries for roles in tax services are projected to increase an average of 3.6% in 2024, while audit and assurance services will see starting salaries likely go up an average of 3.8% next year, according to a CPA Practice Advisor analysis of public accounting pay data provided by specialized staffing firm Robert Half. Robert Half’s salary guide for 2024 was released on Monday, featuring starting salary projections for a plethora of roles in accounting and finance.
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In the latest episode of our Risk & Accounting Advisory podcast, Neal Beggan , Risk Advisory Leader, and key leaders from Cherry Bekaert’s Risk Advisory SOX practice, Gareth Montague-Smith and Peyton Black , discuss the concept of SOX “Lite,” a controls diagnostic service for smaller or private companies that can help prepare companies to go public, help remediate material weaknesses or significant deficiencies, provide efficiencies for companies facing difficult audits and more.
By Katelyn Washington, Kiplinger Consumer News Service (TNS) Since receiving funding from the Inflation Reduction Act, the IRS has ramped up tax enforcement for millionaires, but data show the agency has yet to crack down on a separate set of wealthy non-filers. Lawmakers, including Senate Finance Committee Chair Ron Wyden (D-Ore.), want the agency to increase compliance efforts for high-income earners who aren’t paying taxes.
From your local plumber and barber, to your favourite cafe, these small businesses sit at the heart of our communities. They are the ones driving jobs, economic growth and a place for people to come together. These smallest businesses — those employing up to nine people — make up 15% of the UK’s turnover, and provide over a quarter of jobs. But despite this, a “digital drag” is holding the smallest firms back from reaching their full potential.
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There are a myriad of challenges and changes in the tax codes affecting their business clients each tax season. With an economy still trying to gain more certain footing, businesses facing new market conditions, and a constantly evolving IRS, the business and tax advisors at KBKG have identified three of the most significant changes the IRS has implemented, each of which can have strong impacts on businesses.
Another successful sponsorship of Dreamforce is in the books for Cherry Bekaert. Dreamforce 2023, Salesforce’s premiere technology conference in San Francisco, was all about artificial intelligence and sustainability, and we had a front-row seat to all the action. Cherry Bekaert was also on center stage, presenting on c-suites solving the carbon neutral puzzle with Net Zero Cloud.
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7 min read Sage ® is a business management software company that is quickly gaining traction in the space with products designed to cater to businesses of all sizes, providing software designed to streamline not just accounting, financial management, and compliance but also human resources, customer-response management, and business management across industries.
Wednesday, November 8 at 10:30am CT Has your financial institution taken its eye off the ball when it comes to TRID disclosures to focus on other priorities? Lending institutions should periodically reexamine their TRID management processes and evaluate its effectiveness as examiners remain laser-focused on the issue. Violations related to the loan estimate and closing disclosure remain common during regulatory examinations and can lead to consumer reimbursement for unfortunate lenders.
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Before delving into the strategies that can help you win and maintain clients for your accountancy practice, I must manage your expectations. There’s no magic bullet or hidden secret that will replace everything you already know about client relationships. What follows therefore are fundamental principles that, if you keep them in mind, will assist you in attracting and retaining the type of clients that you want.
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