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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. Midyear sales tax. The Tax Foundation released its “State and Local Sales Tax Rates, Midyear 2023” report of the 45 states (and the District of Columbia) that collect statewide sales taxes and the 38 states where local sales taxes are collected.
Taxpayers who are not under examination by the IRS now have “an easier, more efficient way” to submit electronic requests for relief when they have to submit international tax documents after a deadline, the tax agency said on Aug. 11. That electronic option is via a fax machine. “Across the IRS, our teams are working to make improvements to help people, and this electronic option removes a step in the paper process that can help save time and ease burden on international taxpayers as well as th
Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
Professionals on the Move is a round-up of recent promotions and staffing announcements around the profession. Intuit QuickBooks Welcomes Karla Uribe, Serving the Accountant Community as the New Director of Product Management, Partners Segment Intuit QuickBooks recently announced that Karla Uribeis the new Director of Product Management, Partners Segment.
When I moved back to Melbourne in 2017 after 15 years living overseas, I joined the Glen Eira football club as a volunteer because it’s a great way to meet people and it’s really rewarding. At the club we live by our motto which is “football for all”. We have wheelchair football, we have all abilities football, we have walking football, we have Go SoccerMums for women to have a kick around while their kids are at training to promote staying active.
The Public Company Accounting Oversight Board (PCAOB) has not been in a jovial mood lately. Shortly after criticizing audit firms for the number of errors they made on public company audits reviewed by PCAOB inspectors last year, the audit watchdog doled out sanctions to 12 accounting firms from July 28 to Aug. 11 for breaking various auditing rules.
The Public Company Accounting Oversight Board (PCAOB) has not been in a jovial mood lately. Shortly after criticizing audit firms for the number of errors they made on public company audits reviewed by PCAOB inspectors last year, the audit watchdog doled out sanctions to 12 accounting firms from July 28 to Aug. 11 for breaking various auditing rules.
Often, after much negotiation, debt may be reduced on various projects to realign debtor and equity holders’ interests in properties. Property owners restructuring debt should be wary of tax consequences that could occur. Debt cancellation, foreclosures and short sales can often increase tax liability for cancellation of debt income. On this episode of the Tax Beat Podcast, Brooks Nelson , Partner and Strategic Tax Leader, and Sarah McGregor , Tax Director, discuss the tax cost and poten
7 min read Budgeting and budget reporting are integral parts of running a successful business. At face value, budgeting might seem like a mundane, unimportant task, but it's absolutely vital to business operation and strategy.
The Institute of Internal Auditors, which promotes internal audit standards, certifications, education, research, and technical guidance worldwide, has commented on the U.S. Securities and Exchange Commission (SEC)’s issuance of their final rule on cybersecurity risk management, noting the positives associated with greater transparency and accountability, while pledging to continue to work with the SEC to address additional concerns.
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.
Puerto Rico’s largest bank filed a data breach notification with the Maine Attorney General on August 14 related to the MOVEit ransomware attack that has so far snagged Deloitte, EY, and PwC. For once KPMG is thrilled to be excluded from the Big 4. EY client Bank of America sent a similar notice to its customers last week , that notice did not go into detail as to the why an accounting firm would have had access to this customer information like Popular’s does. 82,217 Banco Popular c
By Reade Pickert – Bloomberg News. (Via TNS) U.S. retail sales rose in July by more than forecast, suggesting consumers still have the wherewithal to sustain the economic expansion. The value of retail purchases increased 0.7% in July after upward revisions in the prior two months, Commerce Department data showed Tuesday. The upbeat figure reflected increases in a variety of sales categories, including sporting goods stores, clothing outlets and restaurants and bars.
At AccountingDepartment.com, we strive to provide our clients with the top software solution options and work with some of the best technology partners out there. When it comes to implementing NetSuite, we turn to goVirtualOffice and offer their NetSuite implementation services to our clients.
In business formation, one thing is constant across all 50 states and the District of Columbia: business owners choosing to incorporate must select a registered agent (RA) to handle the acceptance of service of process for their companies. However, the specifics of which business structures require an RA and who can fulfill this role differ from state to state.
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.
Cherry Bekaert and PXiSE Energy Solutions, a Yokogawa Company and innovative software-based energy grids control company in San Diego, CA, have joined forces on product development work that will soon bring cloud-native software to market and drive the digital transformation of the grid. PXiSE enables utilities, campuses and communities to hit their clean energy goals by empowering grid operators to manage unlimited renewables and distributed energy resources (DER), while providing safe and reli
Registration is now open for an executive management course, jointly developed by Saïd Business School at the University of Oxford and AICPA & CIMA, that’s designed to give accounting and finance professionals the skills necessary to lead their organization’s response to sustainability issues. The course, ESG and Sustainable Financial Strategy, will give participants a detailed understanding of environmental, human capital and governance concepts, reporting frameworks and assurance considera
Starting January 1, 2024, business owners will face additional reporting requirements enforced by the Financial Crimes Enforcement Network (FinCEN), in compliance with the Corporate Transparency Act’s (CTA) Beneficial Ownership Information (BOI) Reporting Rule. On September 29, 2022, FinCEN issued a final rule requiring specific companies to report the BOI effective January 1, 2024.
By Katelyn Washington, Kiplinger Consumer News Service (TNS) Some states have laws that allow inflation to dictate higher property taxes. That’s because revenue from property taxes is used to fund police and fire departments, maintain roads, and other initiatives that benefit the public. And when inflation is high, like it is right now, these initiatives require more money to operate.
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.
Founded in 2014 by Anne Boden, Starling was the UK’s first mobile bank offering super-fast setup, beautifully simple money management and 24/7 support, all with no monthly fees.
In the ever-evolving world of finance, where data integrity and precision are non-negotiable, QuickBooks Enterprise (QBES) emerges as a top-notch accounting software for accountants and businesses that can stand the.
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.
Boomer Consulting, Inc., a provider of peer communities, thought leadership and unique consulting services for the accounting profession, has announced the next evolution of the Boomer Circle Summit. The Boomer Circle Summit will bring together members of all of Boomer Consulting’s peer communities. These leaders from across the accounting profession will have a unique opportunity to discuss top challenges and opportunities and help create alignment across all areas of an accounting firm: leader
In an increasingly cashless society, digital payments have become the norm for businesses across various industries. Resorts, with their focus on providing exceptional guest experiences, are no exception. Accepting digital payments can offer numerous benefits to resorts, including improved convenience, enhanced security, and increased customer satisfaction.
Businesses are failing to act on the increasing enterprise risks brought about by ESG and climate risk, revealed in its new global study of 200 senior leaders working across financial and industrial sectors. That’s according to research by Verdantix. The research reveals that 52% of firms say climate related threats such as climate risks to physical assets or energy transition risks represented very material risks to their firm over the last 12 months, while 37% say their physical operations wil
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.
EY continues to redefine the meaning of “better working world,” this time by way of salaries for audit staff in financial services. Better for whom we aren’t quite sure, not the people receiving these salaries. AFR wrote about EY Australia audit salaries this morning (their morning): The starting pay for most auditing staff in parts of EY’s financial services division will not increase this year, at the same time the firm has told clients that “significant wage inflation” had f
Two individuals took home “Bridging the Gap” awards after being honored on August 15 by Boomer Consulting, Inc. during the 2023 Boomer Technology Circles Summit in Kansas City, Missouri. These awards honor firms and individuals within the accounting profession that excel in aligning technology and firm management. Kamran Faruqi, Adams Brown [link] Kamran Faruqi, MBA, Chief Information Officer at Adams Brown, was presented with the 2023 Bridging the Outstanding Technology Leader award.
Despite a ruling that said the firm didn't follow due process in firing him, it is determined to take action against a partner and others involved in a leaking scandal.
Date: Tuesday, September 12, 2023 Time: 3 PM EDT / 2 PM CDT / 12 PM PDT / 7 PM GMT Sponsor: Drake Software Duration: 1 Hour Receive 1 hour of free CPE credit for participating in this live webinar. Already registered for this webinar? Click here to log in. Understand your legal and regulatory obligations, develop adequate policies to secure client data and protect your practice.
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.
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