Mark Lee
JUNE 25, 2024
One of the most common issues accountants raise with me is how can they stop getting caught out doing extra little bits of work for free? This has become more of an issue for many of them since they started quoting fixed fees. The issue comes up less often for those traditional accountants who still claim to charge clients by reference to the time spent on their affairs.
RogerRossmeisl
JUNE 25, 2024
As reported in IR-2024-169 IRS enters next stage of Employee Retention Tax Credit work; review indicates vast majority show risk of being improper Highest-risk claims being denied, additional processing to begin on low-risk claims; heightened scrutiny and review continues as compliance work tops $2 billion; IRS will consult with Congress on potential legislative action before making decision on future of moratorium Following a detailed review to protect taxpayers and small businesses, the Intern
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Accounting Today
JUNE 25, 2024
Middle-class residents in these states pay a smaller percentage of their paychecks to taxes.
BurklandAssociates
JUNE 25, 2024
Laying a strong legal foundation from the beginning can save your startup time, money, and headaches down the road. The post Legal 101 for Startups – What I Learned from My Discussion with Silicon Legal Strategy appeared first on Burkland.
Speaker: Joe Wroblewski, Sales Engineer Manager
Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te
CPA Practice
JUNE 25, 2024
By Darren Root, CPA, CITP, CGMA. What it takes to be a modern firm means different things to different people. Does it require having connected, collaborative cloud technology in place? A structured, current security plan? Offering a rich client experience? A healthy culture that supports remote work and flex time? The short answer is yes to all of the above—and more.
Accounting Today
JUNE 25, 2024
A coalition of accounting educators and tech leaders released a generative AI governance framework as a starting point for organizations.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
JUNE 25, 2024
Garden City, NY-based KKM CPA Associates and the BDO affiliate firm in the United Arab Emirates were fined $25,000 and $20,000, respectively, by the Public Company Accounting Oversight Board (PCAOB) on June 18 for not following U.S. auditing reporting requirements. “When registered firms fail to comply with reporting requirements, it deprives investors of important information about those firms,” PCAOB Chair Erica Williams said in a statement.
Insightful Accountant
JUNE 25, 2024
Earlier this year, Intuit introduced a new version of QuickBooks Online for solopreneurs, it's designed for individuals who submit IRS Form 1040 - Schedule C tax filings.
CPA Practice
JUNE 25, 2024
Zoë Jackson Star Tribune (TNS) The growing numbers of Gen Z workers have mystified both employers and their older colleagues. Remote work, quiet quitting and other buzzwords have filled headlines as CEOs melt down over changing office cultures. But the youthful nuances show no signs of slowing down as the youngest generation continues to enter the workforce.
Accounting Today
JUNE 25, 2024
Collecting payments is essential for business operations, but it's often not a top priority for business owners who are juggling numerous other tasks and demands daily.
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Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
CPA Practice
JUNE 25, 2024
Existing-home sales slightly declined in May as the median sales price climbed to a record high, according to the National Association of Realtors. In the four major U.S. regions, sales slid month-over-month in the South but were unchanged in the Northeast, Midwest and West. Year-over-year, sales rose in the Midwest but receded in the Northeast, South and West.
Accounting Today
JUNE 25, 2024
Financial restatements decreased roughly 6% year over year, according to a report from Ideagen Audit Analytics.
KROST
JUNE 25, 2024
There are some important changes in the Inherited IRA distribution rules that may affect your tax planning. Before the SECURE Act of 2019, beneficiaries of inherited IRAs could “stretch” or spread out their withdrawals over their lifetime, which allowed them to lower their annual tax liability. However, under the new regulations of the SECURE Act, Read the full article.
CPA Practice
JUNE 25, 2024
A new Intuit QuickBooks survey shows that while the accounting industry has felt the shockwaves of changing economic conditions, accounting professionals believe that failure to keep pace with technological advancements is the greatest risk to the industry — ahead of higher interest rates, the rising cost of goods, and widespread hiring challenges. These findings and more are highlighted in the 2024 Intuit QuickBooks Accountant Technology Survey , commissioned by Intuit Inc., the maker of profes
Advertiser: Paycor
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Anders CPA
JUNE 25, 2024
Consumer protection agencies and advocates are taking a closer look at mortgage servicers’ practices from both a regulatory compliance perspective and an equity and fairness perspective. Already, financial institutions have increased vigilance on rules like TILA-RESPA Integrated Disclosures (TRID). Now, the Consumer Financial Protection Bureau (CFPB) has directed its examiners to evaluate whether servicing and collection practices raise Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) con
Accounting Today
JUNE 25, 2024
In a narrow holding, the Supreme Court upheld the provision, but emphasized that the ruling did not have broader implications.
CPA Practice
JUNE 25, 2024
A majority (88%) of U.S. workers are struggling to meet basic living costs, fueling a sharp decline in retirement confidence. This is according to a new survey by WTW, a global advisory, broking and solutions company. The survey of 10,000 U.S. employees also revealed a sharp disconnect between the financial well-being support employees want from their employer and what companies are delivering.
Accounting Today
JUNE 25, 2024
BDO USA released its 2023 Audit Quality Report Tuesday as it added a second independent member to its Audit Quality Advisory Council.
Speaker: Victor C. Barnes, CPA, MBA
In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.
Cherry Bekaert
JUNE 25, 2024
In this episode of Cherry Bekaert’s GovCon Podcast host Eric Poppe , a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Vivian Kohrs , Director, Strategic Tax, and Bryan Weems , Senior Manager, Tax Credits and Incentives. Together they give an overview of research and development (R&D) credits for government contractors.
Basis 365
JUNE 25, 2024
Managing accounting and finances efficiently and strategically is crucial for sustainable growth. One solution that has gained traction is outsourcing controller services. Most small business owners believe they need a bookkeeper, fractional CFO, or a combination of both when they actually need a controller. This blog walks through what a controller’s skill set brings to the table to help you make the right decision when building your scalable accounting team.
Accounting Insight
JUNE 25, 2024
More than a decade of capped tuition fees has caused universities to struggle financially – with some even supplementing the cost of education themselves. Funding grants and tuition fees no longer address the costs of providing high quality research and education. As a result, universities are under increased scrutiny from stakeholders. These include research councils, investors and private donors, who are all keen to know exactly how their investments are being used.
Accounting Today
JUNE 25, 2024
Disaster planning; the flipside of an Employee Retention Credit mess; the QoE; and other highlights from our favorite tax bloggers.
Speaker: Kim Beynon, CPA, CGMA, PMP
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Accounting Insight
JUNE 25, 2024
Today, Silverfin, specialists in cloud software for accountants, has launched its whitepaper ‘Tackling the capacity crunch in accountancy: a three-stage journey’ in a bid to help struggling firms manage the talent exodus from the accountancy sector. Written in collaboration with senior leaders at accounting firms flinder, Moore, and BKL, the whitepaper explains why software is the key to attracting and retaining accountancy talent and solving the capacity crunch too many firms are facing today.
Accounting Today
JUNE 25, 2024
The Internal Revenue Service agreed to settle a lawsuit brought by hedge fund manager Ken Griffin that accused the agency of failing to protect his confidential financial information from a contractor who stole his tax data and leaked it to ProPublica.
CPA Practice
JUNE 25, 2024
The Public Company Accounting Oversight Board (PCAOB) fined Vancouver-based accounting firm De Visser Gray $60,000 on June 18 for failing to comply with U.S. auditing rules and quality control standards from April 2019 through January 2024. According to the PCAOB, De Visser Gray’s system of quality control failed to provide reasonable assurance that the firm and its personnel would: Comply with applicable PCAOB professional standards and regulatory requirements; Perform sufficient procedures to
Accounting Today
JUNE 25, 2024
When you announce the new tax season to your clients, let them know it's a new benefit you're offering to your customers.
Speaker: Mark Gilham, FCCA, CPP
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
CPA Practice
JUNE 25, 2024
The number of nonequity partners at the top 100 accounting firms (excluding the Big Four) with revenues of more than $48.8 million has increased by more than 320% over the last 15 years versus just 85% for equity partners, according to a recent blog by INSIDE Public Accounting. “The accounting profession is adding far more nonequity partners to its ranks than equity partners, which means power is concentrated among fewer owners but stand-out pros are getting the opportunity for more responsibili
LSLCPAs
JUNE 25, 2024
Cost segregation continues to be an essential tax planning tool in 2024. By accelerating the depreciation allowed on a building, taxpayers can significantly reduce their taxable income in the initial years of property ownership. This strategy offers a substantial reduction in taxes, thereby boosting cash flow during the crucial early years of owning a building.
Cherry Bekaert
JUNE 25, 2024
Virginia recently passed House Bill 1518 (HB 1518) , which Governor Glenn Youngkin signed in April 2024. This law modified the state’s Research and Development Expenses Tax Credit (R&D Tax Credit) and the Major Research and Development Expenses Tax Credit (Major R&D Tax Credit). The new law aims to encourage innovation in Virginia by providing enhanced tax incentives to organizations that invest in qualified R&D activities.
Withum
JUNE 25, 2024
Did you know that over 90% of criminal prosecutions involve some form of digital evidence ? As a result, the majority of criminal cases will involve digital forensics in some form. If you are not receiving digital evidence in your cases, you should ask yourself why. Cellebrite’s 2024 Industry Trends Survey found that, of the over 2,000 criminal investigators, prosecutors, managers and digital forensic examiners worldwide surveyed, 60% believe “digital evidence is more important than DNA.
Advertiser: Paycor
Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.
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