Wed.Jul 05, 2023

article thumbnail

IRS Warns of New Tax Refund Mail Scam

CPA Practice

By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) There’s a new IRS scam to watch out for. Some people are receiving cardboard envelopes in the mail containing the IRS masthead and the wording: “in relation to your unclaimed refund.” Monday, the agency warned that the mailings are a scam to trick taxpayers into providing sensitive information to thieves.

Tax 119
article thumbnail

Accounting firms pursue non-traditional applicants in bid to diversify

Accounting Today

CPA firms have been recruiting more people without accounting degrees and backgrounds as a way to fill their open jobs while expanding diversity in their workforce.

Insiders

Sign Up for our Newsletter

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

Trending Sources

article thumbnail

Study: Women Are Underrepresented Among Paid Interns

CPA Practice

By Mia Gindis, Bloomberg News (TNS) A recent study of students attending four-year colleges and universities in 2022 found that two-thirds of the graduating male respondents received paid internships compared to less than half of women, despite women representing 70% of the 2,140 seniors surveyed. The research, conducted by the National Association of Colleges and Employers, is in line with other findings from previous years, suggesting that undergraduate work experiences might set the stage for

article thumbnail

Three words can make all the difference for your clients

Accounting Today

Sometimes a straightforward "We appreciate you" is more powerful than a bouquet of flowers or a thank-you card.

111
111
article thumbnail

Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

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.

article thumbnail

State CPA Societies in Action: Minnesota Society of CPAs (MNCPAs)

CPA Practice

The Minnesota Society of CPAs or MSCPA celebrated its 119 th anniversary in 2023, from the beginning crafting regulation and education to maintain high professional standards for clients, employers, and the public. [ 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.

Minnesota 110
article thumbnail

Backing our small business customers on Xero Day

Xero

Today is Xero Day, which marks a special day here at Xero. It’s the anniversary of the day where it all started for us 17 years ago. Our customers, partners and people have played a vital role in our success and Xero Day is about reflecting on all of you and our purpose to make life better for small businesses, their advisors and communities around the world.

More Trending

article thumbnail

You Need a WISP - We've Made it Easy

Insightful Accountant

Liscio's Alison Ball explains how to fast-track your compliance with IRS Pub 4557 and the FTC Safeguards Rule

105
105
article thumbnail

Illinois CPA Society presents 2023 Lifetime Achievement Award

Accounting Today

The Illinois CPA Society presented wealth strategist Daniel Rahill III with its 2023 Lifetime Achievement Award.

Illinois 105
article thumbnail

Number of Small Business Jobs Increased in June

CPA Practice

Small businesses with one to nine employees created a net gain of 23,200 jobs in the month of June 2023, according to the Intuit QuickBooks Small Business Index. This is an increase of 0.18% over the last report in May. Nationally, small businesses employ an estimated 12,886,2250 people, according to data from the U.S. Bureau of Labor Statistics. “In May, the inflation rate exhibited a deceleration, with a Consumer Price Index of 4%, marking its lowest level in two years,” said Ufuk Akcigit , th

article thumbnail

More Top 100 Clues from Award Recipients

Insightful Accountant

In this second part of Murph's mini-series on "clues to Top 100 from 2023 Aware Recipients', he provides valuable insight into how maximized 'App engagement' is the key to scoring in many different award categories.

104
104
article thumbnail

The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

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.

article thumbnail

Four Withum Partners Named to NJBIZ 2023 Accounting Power 50

Withum

Withum is proud to share that four partners, including Managing Partner and CEO Pat Walsh, were named to the 2023 Edition of NJBIZ’s Accounting Power 50 List. In the Number 7 spot, Pat Walsh is praised for his experience and seamless transition to CEO earlier this year. The publication also noted his extensive philanthropic initiatives, noting his trustee position at the Boys and Girls Club of Newark and his leadership position on the council for his local Habitat for Humanity chapters.

article thumbnail

Massachusetts looks at taxing legacy admissions

Accounting Today

A bill in the state seeks to tax rich colleges that favor families of alumni and donors in admissions policies and give the money to poorer community colleges.

article thumbnail

How Personal Accountants Can Provide Personalized Client Experiences

CPA Practice

By Joe Greenspan. The financial services industry is a people-driven sector with professionals, like personal accountants, relying on healthy client relationships to fuel their bottom line. With the average accounting firm handling anywhere from 50 to over 200 clients, the deck is stacked against accountants looking to provide clients with a personalized experience.

article thumbnail

Budgeting vs. Forecasting for Your Business

GrowthForceBlog

7 min read Business budgeting and forecasting are highly useful practices in businesses of all sizes. While they're both important tools for business management and strategy, it's common for business owners to confuse budgeting and forecasting. Key Takeaways The Purpose of a Business Budget: The purpose of a business budget is primarily to provide your company with a short-term spending plan for the upcoming year (or another set financial period)… Know How to Create a Budget: First, you need to

article thumbnail

Doing More With Less: The Modern Finance Miracle

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.

article thumbnail

Despite Economic Concerns, Small Business Owners Remain Optimistic

CPA Practice

By Jenna Anderson, Inc. (TNS) Despite concerns about inflation and interest rates, small business owners were more optimistic about the national economic outlook in the second quarter of 2023, according to a recent survey. The latest Small Business Index , a survey of small businesses from MetLife and the U.S. Chamber of Commerce, shows an increase in overall confidence from 60 to 63.1 since the first quarter of the year.

98
article thumbnail

5 Steps for Making Better Business Decisions

Basis 365

As an entrepreneur, you consistently encounter pivotal choices that hold the power to greatly influence the growth and prosperity of your business. Whether it involves expanding your operations, adopting innovative technologies, or recruiting fresh talent, these decisions can be overwhelming and demand thoughtful analysis. Nonetheless, there are numerous strategies you can employ to ease the decision-making process and enhance the likelihood of making sound judgments.

article thumbnail

How to Develop a New Five-Year Plan for Your Company’s Tax Department

CPA Practice

Every corporate tax and finance function should have a five-year plan, even the ones that have undergone or are undergoing a transformation, say tax executives from Big Four firm EY. Fundamentally, businesses have the same choices they had in 2018: First, they can build modern tax and finance departments internally by investing in the right people, data capabilities, and technology.

Tax 96
article thumbnail

ESG Compliance: Understanding ESG Reporting Requirements

Cherry Bekaert

Authors: Gabriela Payne , Senior Manager, Risk & Accounting Advisory Services To date, sustainability reporting has been voluntary, and the lack of consistent and transparent methodology or standards has not met the information needs of investors. Depending on where you operate, where your securities trade or who you do business with, you are likely to be subjected to comply with one or more jurisdictions’ corporate responsibility mandates either directly or indirectly, depending on your su

article thumbnail

8 Pillars of Leadership Development

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.

article thumbnail

How to prepare your business for participating in a Foreign Trade Zone (FTZ) program

ThomsonReuters

Foreign Trade Zones (FTZs) can help businesses of all kinds reduce or manage inventory, and compete more effectively in the international marketplace. Still, many companies are reluctant to take advantage of FTZs, either because they don’t understand the benefits of a well-run program or don’t believe the effort necessary to create one is worth it. program or don’t believe the effort necessary to create one is worth it.

article thumbnail

Driving the Discipline of Strategic Growth

CPA Practice

By Jasen Stine and Gale Crosley. Our tax and accounting profession is continuing to be disrupted by marketplace dynamics from technology and economic conditions to competition and regulation. Business owners and firms need to be thinking about how to adapt to keep up with the “changing neighborhood” around them. Gale Crosley, CPA, CGMA, is a leading strategic organic revenue growth consultant to hundreds of large, and large-thinking CPA and accounting firms worldwide.

article thumbnail

Safeguarding Your Accounting Firm: The Importance of Cybersecurity

Canopy Accounting

With the kind of sensitive financial information that accounting firms have, they become prime targets for cyberattacks. Learn how to protect your firm in our latest guide.

article thumbnail

New York CPAs Elect Liren Wei as President of State Society

CPA Practice

Liren Wei, CPA, CGMA, managing partner of Wei, Wei & Co., LLP in Flushing, New York, began his one-year term as president of the New York State Society of CPAs ( NYSSCPA ) on June 1, making him the 104th president of the NYSSCPA. Wei began his accounting career 29 years ago as an entry-level staff accountant. Today, as a managing partner, he oversees the general management and administration of his firm, including directing the activities of managerial, professional and support staff, and o

article thumbnail

Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.

article thumbnail

IFAC offers quality management guidance for small audit firms

Accounting Today

The International Federation of Accountants released the second installment of its advice for implementing the IAASB's updated standards.

audit 52
article thumbnail

Special Report: Focus on Staffing and Retention

CPA Practice

More than half of large and midsize accounting firms have indicated they are worried about attracting and retaining talent. We’re guessing you might have similar concerns. Along with our sponsors, Taxfyle and Wolters Kluwer, we have prepared this Special Report to address issues relating to talent acquisition and retention and to provide solutions you might find useful.

article thumbnail

On-Demand Webinar: Safeguarding Your Law Firm Against Cyber Threats

Withum

View On-Demand Webinar Cybercriminals are increasingly targeting law firms, as their digital footprint is constantly expanding, threatening both the privacy of clients’ sensitive information and firms’ reputations. This leads to more entrances to a firm’s network infrastructure – a direct gateway to data. Law firms serve as stewards to valuable, sensitive financial and client information and must remain as trusted business partners.

52
article thumbnail

Feds Charge Health Care Execs with $1.9 Billion Fraud

CPA Practice

By Luke Nozicka – The Kansas City Star (via TNS). Two executives of an Overland Park-based company have been charged with conspiring to commit $1.9 billion in health care fraud, marking what officials called one of the largest such schemes prosecuted in Justice Department history. Brett Blackman, 39, and Gregory Schreck, 49, were indicted in the Southern District of Florida for allegedly conspiring to commit fraud, conspiring to pay and receive health care kickbacks, and conspiring to defraud th

Kansas 52
article thumbnail

How to Set Better OKRs and Drive Results

Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.

article thumbnail

Withum Wealth Management Named NJBIZ Empowering Women Honoree

Withum

Withum is proud to share that Withum Wealth Management , a business combination built between Withum and Pinnacle Associates, was named as an honoree by NJBIZ on their Empowering Women List for 2023. NJBIZ’s first Empowering Women recognition program celebrates local companies and organizations for their innovative and successful efforts to advance women in the workplace and in the community.

52
article thumbnail

Post-Holiday Accounting News Brief: Google Tied Up in PwC Tax Scandal; KPMG Canada Offers an AI Warning | 7.5.23

Going Concern

Sup! We usually do these on Monday but since many of you were off both Monday and Tuesday for Independence Day let’s do it now. Hope everyone had a safe and restful holiday. GO ‘MURICA. On Monday we asked Twitter who’s off, the majority of respondents were. I’d heavily judge that 15.4% who were off but working but I did some work on Monday too.

auditor 52
article thumbnail

An Overview of SEC Climate Risk Disclosure Requirements  

Withum

As global climate change continues to be a major concern, investors are now taking ESG (environmental, social, and governance) standards into account when making investment choices. The lack of comparability, transparent reporting practices, and varying frameworks for climate assessment management has resulted in investor uncertainty, leading to the SEC considering new regulations in response.

article thumbnail

Supply Chain Risks Likely to Continue

Dent Moses

S&P Global recently released a report titled “Look Forward: A World in Disruption.” The report details all the risks to the global economy and supply chain. The world is in more debt than ever before with the total estimated at $300 trillion or $37,500 for every person in the world compared to GDP per person of $12,000. The low-rate environment encouraged many companies to leverage instead of raising equity.

Retail 52
article thumbnail

Automation, Evolved: Your New Playbook for Smarter Knowledge Work

Speaker: Frank Taliano

Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.