Fri.Jun 14, 2024

article thumbnail

Forensic Accounting Software

FraudFiles

The financial part of a complex case can become overwhelming quickly. Particularly in cases involving white collar crime, securities fraud, Ponzi schemes, or other fraud recoveries, the trail of financial documentation is often very long. A forensic accountant needs to examine tens of thousands of transactions and piece together the evidence in a way that [.

article thumbnail

IRS Audits: What to Do When You Receive an Audit Notice and How an Enrolled Agent Can Help

MyIRSRelief

Receiving an audit notice from the Internal Revenue Service (IRS) can be a daunting experience for any taxpayer. However, understanding the audit process and knowing your rights and options can significantly ease the stress. This article will delve into the intricacies of IRS audits, outline the steps you should take upon receiving an audit notice, and explain how an Enrolled Agent (EA) can represent and assist you throughout the process.

audit 130
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

IRS Warns About Scams Targeting Seniors

CPA Practice

The Internal Revenue Service has issued a renewed warning about the rising threat of impersonation scams, which often target older adults by pretending to be government officials, in an attempt to steal sensitive personal information and money. By posing as representatives from agencies such as the IRS, or other government agencies, these fraudsters use fear and deceit to exploit their victims.

Tax 117
article thumbnail

A midyear multistate payroll compliance checklist

Accounting Today

If you have clients with employees in more than one state, they must pay attention to the payroll-related rules and tax responsibilities in the states where those staff live and work.

payroll 114
article thumbnail

5 Steps to Shield Your Business: The Ultimate Guide to Avoiding Payment Fraud

As scams grow more sophisticated, it's crucial to stay proactive in defending against these threats. This guide equips CFOs, accountants, and business leaders with five essential steps—from fundamental safeguards to advanced security measures to strengthen your financial defenses. From enhancing data security to implementing fraud detection tools and safeguarding financial transactions, this guide provides expert advice that could save your company millions.

article thumbnail

Friday Footnotes: PwC Leader Called Out for Twitter Tantrums; Why Quiet Layoffs Are a Bad Idea; Remote Work Advice for Firms | 6.14.24

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

auditor 104
article thumbnail

Trump tells CEOs he would cut corporate tax rate to 20%

Accounting Today

Donald Trump promised to lower the corporate tax rate to 20%, further reducing the income levy on the largest U.S. companies that he already slashed while president.

More Trending

article thumbnail

IMA tries to attract young accountants

Accounting Today

The Institute of Management Accountants held its annual conference this week in San Antonio, Texas, where it discussed ways to attract more people to join the profession.

Account 112
article thumbnail

Jobless Claims Rise to Highest Level in Nine Months

CPA Practice

By Charles Ayitey and Jarrell Dillard, Bloomberg News (TNS) Initial applications for U.S. unemployment benefits jumped to the highest level in nine months, led by a large increase in California, during a period where holidays and the end of school year can cause fluctuations in claims. Initial claims increased by 13,000 to 242,000 in the week ended June 8, according to Labor Department data released Thursday.

article thumbnail

Tech news: Big Four firms announce strategic alliances

Accounting Today

Plus, Bill360 solution offers AR automation; Certa announces gen AI capacities, new ESG module; and other accounting tech news.

article thumbnail

How Tipping Culture is Hurting the Restaurant Industry

Withum

Tips are a staple of the restaurant industry and are currently under scrutiny as there is a wave of frustration with customers that is resulting in less tipping or no tipping at all. This has a wide array of impact to restaurants, from the employees, in both the front and back of the house, all the way up to the owners and investors of the restaurant.

article thumbnail

How to Navigate Revenue and Expense Management: Competitive Insights for Financial Success

Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global

In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!

article thumbnail

On the move: HCVT COO announces retirement

Accounting Today

Plus, FICPA presents Women to Watch Awards; Baker Tilly expands enterprise risk management practice; and more news from across the profession.

112
112
article thumbnail

Trump Plan to End Taxes on Tips Garners Capitol Hill Interest

CPA Practice

By Caitlin Reilly and Aidan Quigley, CQ-Roll Call (TNS) In meetings with congressional Republicans on Thursday that were otherwise light on concrete policy details, former President Donald Trump again trotted out his desire to eliminate federal taxes on income from tips. Many Republicans said the idea had merit and should be part of the conversation as Congress weighs how to address the expiration of 2017 tax law provisions slated for the end of 2025.

Tax 95
article thumbnail

Improving Construction Communication And Workplace Productivity

Randal DeHart

The success of any business, large or small, depends largely on nurturing an efficient, productive workplace. While improving employee productivity should always be a priority when the ultimate goal is a sustainable and profitable business, the process is more straightforward said than done. In today's fast-paced construction industry, staying in touch and being productive is crucial for project success.

article thumbnail

SCOTUS asks for input on cert decision in SALT case

Accounting Today

The Supreme Court asked the solicitor general to weigh in on whether a Pennsylvania tax case has federal ramifications.

article thumbnail

3 Must-Have Reports to Help Financial and Accounting Firms Become More Profitable

Bizinta highlights three crucial reports for financial and accounting consultancies to enhance profitability: Utilization Reporting maximizes billable hours Profitability by Consultant identifies top performers Contribution by Client prioritizes high-value clients These reports provide accurate insights, replacing guesswork with data-driven decisions.

article thumbnail

Trump Tells CEOs He Would Cut Corporate Tax Rate to 20%

CPA Practice

By Nancy Cook and Justin Sink, Bloomberg News (TNS) Donald Trump promised to lower the corporate tax rate to 20%, further reducing the income levy on the largest U.S. companies that he already slashed while president, according to people familiar with the remarks. The presumptive Republican presidential nominee pitched his support for cutting the business tax rate during a private meeting in Washington Thursday with roughly 100 chief executive officers of some of the biggest American companies,

article thumbnail

What Is an Employee Assistance Program (EAP), and Is it Taxable?

Patriot Software

Benefits matter to 81% of employees, which means your benefits package is an important recruitment and retention tool. From traditional benefits, like health insurance, to newer benefits, like student loan repayment, you’re always looking for the next best thing. Have you heard of employee assistance program (EAP) benefits? What is EAP, exactly?

article thumbnail

IRS pushes recruitment with updated Careers site

Accounting Today

For tax pros, the IRS is also hosting recruiting events at its Nationwide Tax Forums.

Tax 116
article thumbnail

The Importance of Transparency in Business | Beyond the Books Podcast by AccountingDepartment.com

AccountingDepartment

Andrea Boccard teams up with Dennis Najjar, co-founder of AccountingDepartment.com, to explore the pivotal role of transparency in business success.

article thumbnail

How To Streamline Finance Operations Through Automation

Speaker: Claire Grosjean

In today’s fast-paced business environment, finance professionals are under increasing pressure to optimize operations and drive strategic value. As a result, automation has become a core part of business strategy, offering unprecedented opportunities to streamline operations and drive efficiency. Join esteemed global finance and operations executive, Claire Grosjean, for a comprehensive guide on how to harness automation’s power through strategic collaboration with functional leaders.

article thumbnail

Australia needs consulting contracts policing after PwC woes

Accounting Today

Intense scrutiny that began last year with revelations that the Australian arm of PricewaterhouseCoopers LLP shared confidential information from its work with the government on upcoming tax changes to generate new business at private firms.

article thumbnail

Saying Goodbye to Workplace by Facebook: Embracing Change with Microsoft 365

Withum

As the sun sets on Workplace by Facebook (now known as Workplace from Meta), many organizations are facing the challenge of migrating their content and workflows to a new platform. With Meta’s decision to focus on AI and metaverse technologies, Workplace will remain operational until August 31, 2025, and will become read-only until May 31, 2026, after which it will be completely decommissioned.

59
article thumbnail

CFOs concerned about economy ahead of election

Accounting Today

CFOs remain divided on the prospects for the economy and continue to see risks from inflation, cybersecurity, generative AI and talent shortages, according to a new survey from Deloitte.

article thumbnail

Optimizing Family Office Accounting: What to Look for in Your Next ERP System

Withum

Today, Family Office growth presents a unique set of challenges, especially regarding financial management systems. As Family Offices grow their portfolios and operations, QuickBooks — once a dependable option for smaller businesses — becomes less and less viable to manage Family Office accounting. To fuel growth and overcome these challenges, it’s a good idea to explore alternative solutions that offer enhanced functionality, scalability and efficiency.

article thumbnail

How to Elevate Your CPA Services and Grow Your Business

As a CPA, your expertise is invaluable to your clients. By partnering with Fincent, you can enhance your service offerings and streamline financial management for your clients. Our platform provides real-time financial reports, cash flow tracking, automated posting of banking transactions to reduce errors, and powerful search capabilities. With Fincent, you can focus on high-value services while we handle the day-to-day bookkeeping tasks.

article thumbnail

Another Project Everest Cheerleader Bites the Dust

Going Concern

Despite getting two exceptions to extend his term beyond the firm’s mandatory retirement age of 60, 61-year-old EY UK Chair Hywel Ball is now stepping down early and will “hand on the baton” to the next sucker lucky winner. This according to an email to partners Financial Times got their hands on. As head of the UK firm, the second largest in EY’s global network behind the US, Ball was an influential figure as the firm’s global bosses tried and failed to split its accounting an

Account 57
article thumbnail

Roth 401(k) vs. 401(k) – Which is Better?

Dent Moses

The retirement plan landscape has changed dramatically in the last few years. Most plans now have a Roth option. The Secure Act 2.0 passed in 2022 accelerated those changes by adjusting existing retirement plan rules. Among these is a feature that allows participants to treat employer-matching contributions as designated Roth contributions if the plan design allows.

article thumbnail

Michigan's Plante Moran opens first office in New York City

Accounting Today

The century-old accounting and management consulting firm based is expanding its presence beyond its Midwestern base.

article thumbnail

Bill360 Introduces Advanced AR Automation at Scaling New Heights

Insightful Accountant

Bill360, an end-to-end accounts receivable automation solution,

Account 52
article thumbnail

How to Avoid Getting Ghosted: Top 3 Secrets to Staying Relevant with Gen Z

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.