ThomsonReuters
FEBRUARY 24, 2023
The merger-and-acquisition (M&A) activity within the accounting profession slowed with the onset of the COVID-19 pandemic but is once again on the upswing as firms look to accelerate growth initiatives and resolve succession issues. For firms looking to sell, or ink deals with investment partners , how they leverage technology can have a major impact.
CPA Practice
FEBRUARY 24, 2023
By Erin Bendig, Kiplinger Consumer News Service (TNS) Maybe you had a child change their mind and not go to college or you saved more than necessary, and now you’re wondering what to do with the cash locked away in your 529 plan. Thanks to the SECURE 2.0 Act, you’ll soon be able to roll over funds from your 529 plan into a Roth IRA, as long as certain conditions are met.
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Going Concern
FEBRUARY 24, 2023
Talent The new math in recruiting at accounting firms [ Puget Sound Business Journal ] You have to scroll way too far down in this article to see a mention of salary. Shocking. When they’re not striving for the pinnacle of their sports, internationally famous mountaineer Jimmy Chin and teenage tennis phenom Coco Gauff are promoting accounting firm Baker Tilly as brand ambassadors.
CPA Practice
FEBRUARY 24, 2023
Technology has made significant contributions to the practice of accounting and is on the verge of another evolution with the advent of artificial intelligence tools coming into the mainstream. In the past four months there has been a frenzy around Open Ai’s ChatGPT, which is a natural language application where you can type in questions and get comprehensive answers in a format that is almost impossible to distinguish from that which you would expect from another educated human.
Going Concern
FEBRUARY 24, 2023
Some time last year PCAOB inspectors visited China and while details of their visit were kept somewhat quiet from both sides, we were told that the inspectors gained unprecedented access to Chinese audit work. This event did not come about because China suddenly warmed to the PCAOB, rather Congress urged their cooperation along with the Holding Foreign Companies Accountable Act of 2020, threatening delisting from American exchanges if they did not comply.
CPA Practice
FEBRUARY 24, 2023
By Kristin F. Dalton, Staten Island Advance, NY (TNS) The IRS has been processing refunds faster this tax season than last year, but the average refund Americans are receiving is slightly lower, the federal agency recently announced. As of Feb. 3, the IRS said it has processed more than 16.7 million tax returns—29% more than in 2022, nearly four million more.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
FEBRUARY 24, 2023
By Matt Bowen. Tax season is already in full swing and accounting firms across the country are working non-stop to meet the April filing deadline. However, many firms will struggle to keep their existing team busy when May rolls around and the last return has been filed. The industry’s extreme seasonality can significantly hinder growth. Firms often don’t have a sufficient year-round client base to support the staffing levels they need during tax season.
Going Concern
FEBRUARY 24, 2023
I’m dating myself here but do you remember the East Coast/West Coast rap beef of the 90s? That’s sort of what’s happening in the profession right now over proposed legislation in Minnesota that offers an alternative to the traditional 150 units of education required for licensure. Except in the case of 90s rapper beefs, Tupac and Biggie were equally popular stars whereas in this case the AICPA encompasses the entirety of the profession in the United States versus Minnesota CPAs
CPA Practice
FEBRUARY 24, 2023
A new survey from lease optimization software provider Visual Lease has found that, while 70% of senior real estate executives reported that their businesses are looking to add space as a part of their 2023 real estate strategy, 88% are planning for physical space needs just one year or less in advance. This is a significant increase from 2022, when only 35% of companies reported planning physical space needs with the same timeline in mind.
Randal DeHart
FEBRUARY 24, 2023
We're in a dynamic, multicultural country with many different races of people from diverse origins, just within the domestic market; it's vital that you know who might be interested in your goods or services and how they could perceive particular messages. Whichever specialty your construction business is in, cultural differences can directly impact your profitability.
Speaker: Victor C. Barnes, CPA, MBA
In the climb from contributor to leader, the rules quietly change. But 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. 🗻 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. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
CPA Practice
FEBRUARY 24, 2023
Technologists Randy Johnston and Brian Tankersley, CPA, CITP, CGMA evaluate Zapier, a tool that lets you automate your work across 5,000+ apps, including the critical business tools you use every day. Click here to go to the podcast page.
Cherry Bekaert
FEBRUARY 24, 2023
Stay Connected On January 29, 2023, new requirements for prevailing wage and apprenticeship, as outlined in the Inflation Reduction Act of 2022 (IRA) , went into effect. These requirements aim to create good paying jobs in the clean energy space by offering enhanced tax credits to participating taxpayers. The IRA is critical in providing good paying jobs through offering enhanced tax benefits for a range of clean energy and green energy projects to taxpayers.
CPA Practice
FEBRUARY 24, 2023
Updated: Feb. 24, 2023: 4:41 pm ET. It’s almost March, and the 2023 tax filing season is well under way. If you haven’t filed your tax return yet and are wondering how long it may take to get your refund when you do file, you’re not the only one looking for the answer. In fact, for more than 10 years, the top question we receive has been: “ When will I get my tax refund?
Withum
FEBRUARY 24, 2023
Borrowing from a bank during a time of rising interest rates may seem counter-intuitive and potentially come with risk. One of the most effective ways to manage that risk is to enter a tax hedge with a third party. In a traditional tax hedge, a taxpayer borrows money from a bank at a variable rate. Subsequently, it enters a “swap” with a third party.
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.
ThomsonReuters
FEBRUARY 24, 2023
Schedule K-1s, which are tax forms used to report a partner’s or shareholder’s income, losses, capital gain, dividends, etc., to the IRS, are sent to more than 40 million U.S. taxpayers each year. There are several different types of K-1 forms, which we will discuss later, but the K-1 is designed to make it easier to measure the contributions of a shareholder toward the overall performance of a business.
Withum
FEBRUARY 24, 2023
Since the beginning of the year, I posted 16 charts and an analysis of Barron’s 84 stock picks. Obviously, I find this interesting or would not write about it. I get one sense of the market from preparing the charts and another sense when I review them. Both get meshed together when I need to advise a client or make my own decisions. Last year was a bad year for the stock market and the economy, with inflation and interest rates spiking up and the threat of a recession.
Menzies
FEBRUARY 24, 2023
Menzies LLP - A leading chartered accountancy firm. A regulator for charities in Northern Ireland, The Charity Commission for Northern Ireland (“CCNI”), has been set up in a similar way to OSCR in Scotland. If your charity is are active on a national basis there may be an obligation to register with CCNI as there was with OSCR, depending on the nature and level of your activities in Northern Ireland.
Patriot Software
FEBRUARY 24, 2023
Whether it’s your first day in business or your 10-year anniversary, it may be time to get a business vehicle. A business car can make running your company easier than ever—from errands to deliveries. So, if you’re wondering, “Should I lease or buy car for business?” We’ve got you covered.
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.
Cherry Bekaert
FEBRUARY 24, 2023
GASB 96, Subscription-Based Information Technology Arrangements (SBITA) is effective for years beginning after June 15, 2022, just one year after GASB 87, Leases. While some governments expect that GASB 96 will be a breeze compared to leases, early indications are showing that the volume of SBITAs to be evaluated will far exceed the population of leases for many governments.
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