Ryan Lazanis

MAY 18, 2023

In this episode, I want to share 9 ways you can leverage ChatGPT in your accounting firm to save time, reduce stress, and boost productivity. Listen below. 0:26 – ChatGPT is a powerful tool that can boost productivity and efficiency for several processes. 1:07 – ChatGPT can help businesses save time and generate high-quality blog content by quickly creating informative and engaging posts based on provided topics and details. 1:39 – Second, ChatGPT helps you draft professional e

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TaxConnex

MAY 18, 2023

Sales tax can be complicated, with rules that frequently change and disparate application across the nation’s thousands and thousands of tax jurisdictions. Economic and physical nexus. Tangible and intangible property. Taxable and exempt items. Rules that vary jurisdiction to jurisdiction even before those jurisdictions change them (which they do frequently).

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CPA Practice

MAY 18, 2023

The American Institute of CPAs has announced the 50 winners of the 2022 Elijah Watt Sells Award. This award is granted to CPA candidates who obtain a cumulative average score above 95.50 across all four sections of the Uniform CPA Examination, pass all four sections on their first attempt and have completed testing in 2022. Of the nearly 67,000 individuals that sat for the CPA Exam in 2022, the following 50 candidates met the criteria to receive the Elijah Watt Sells Award.

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Going Concern

MAY 18, 2023

Not satisfied with former CEO Tom Seymour as a sacrifice , the PwC tax leak scandal continues to claim victims and chip away at the good name of PricewaterhouseCoopers. Financial Times has reported that overlords from the global office “will seize” oversight of the Australian business because the Aussies screwed up, big time. The issue has produced countless unflattering headlines and even government inquiries questioning the ethics of this prestigious professional services organizat

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Advertiser: Paycor

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CPA Practice

MAY 18, 2023

By Chris Zangrilli In today’s stagnating economy , businesses want to learn how to do more with what they already have. Technology will play a key role in driving value for businesses in the face of new and current challenges. Expect to see a bigger push for digital automation. This is not a new phenomenon — but rather one that will be recognized for the true advantage it brings.

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Going Concern

MAY 18, 2023

At its core, accounting is a challenging career that requires growth and learning and can usually pay pretty well. There’s lots to do, and it requires developing expertise and finding ways to solve puzzles. Organizations need folks who can understand broad frameworks and rules and interpret that to produce all sorts of things they need. So far, so good.

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ThomsonReuters

MAY 18, 2023

Rev. Proc. 2023-23 (May 16, 2023) Available at [link] The IRS has released the 2024 cost-of-living adjusted limits for health savings accounts (HSAs), high-deductible health plans (HDHPs), and excepted benefit health reimbursement arrangements (EBHRAs). Here are the details: HSA Contribution Limits. The 2024 annual HSA contribution limit is $4,150 for individuals with self-only HDHP coverage (up from $3,850 in 2023), and $8,300 for individuals with family HDHP coverage (up from $7,750 in 2023

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CPA Practice

MAY 18, 2023

One of the biggest questions currently being asked by many throughout the accounting profession is, “How can we make accounting more appealing to students?” There’s plenty of accounting jobs out there that need to be filled— more than 300,000 accountants and auditors have left the profession in the past few years. But modest starting salaries , horrible work/life balance (especially in public accounting), and time-consuming and strict requirements to obtain CPA licensure have resulted in declini

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ThomsonReuters

MAY 18, 2023

QUESTION: We are considering offering a telehealth benefit to our employees that would be separate from our major medical plan. Will this arrangement be an ERISA plan? ANSWER: Telehealth benefits (also referred to as telemedicine benefits) are often offered under an employer’s group health plan, which is governed by ERISA if sponsored by a private sector employer.

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CPA Practice

MAY 18, 2023

The U.S. government defaulting on its debt, which could become a reality as soon as June 1 without intervention, could send the typical cost of a mortgage soaring by 22%. Mortgage rates rising above 8% would likely overwhelm a small price dip to make affording a home an even steeper hill to climb and send home sales tumbling, according to a new Zillow analysis.

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Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

ThomsonReuters

MAY 18, 2023

Davis v. World Ins. Assocs., LLC, 2023 WL 2665727 (D.N.J. 2023) Available at [link] As part of a larger employment discrimination lawsuit, a former employee alleged that her employer failed to notify her of her COBRA rights or timely process her request for continued health coverage. The employer asked the court to dismiss the COBRA claim, arguing that the employee’s severance agreement notified her of her COBRA eligibility.

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CPA Practice

MAY 18, 2023

From the Thomson Reuters Tax & Accounting Blog. Working in the tax and accounting industry can be a stressful job. With long hours, tight deadlines, and pressure to deliver results, it can be hard to achieve a work-life balance. That’s why it’s important for both tax and accounting professionals and their firms to take steps to protect their mental health.

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Insightful Accountant

MAY 18, 2023

Intuit will discontinue support, including add-on services for QuickBooks Desktop 2020, as of May 31, 2023.

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CPA Practice

MAY 18, 2023

By Katherine Rodriguez, nj.com (TNS) Social Security recipients will likely see a smaller cost-of-living adjustment, or COLA, that comes with their benefits for 2024, according to a new study. A study by advocacy group The Senior Citizens League’s estimated the COLA for next year and found it was far lower than this year’s 8.7%. In October 2022, the COLA for 2023 was a record increase and the highest ever in four decades.

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Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

Technology

AccountingDepartment

MAY 18, 2023

Last week, AccountingDepartment.com Business Development Representatives, Shawn Marcum, and Luke Backus attended the 2023 Women President's Organization Entrepreneurial Excellence Forum in Las Vegas, NV.

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KROST

MAY 18, 2023

This article is written by our featured author, Chad Wiggins, who is a partner and co-founder of PulseOne. Chad discusses the benefits of outsourcing managed IT services, the cost of downtime, gaining access to the latest technology innovations, and more. Read Chad’s article below to learn more about IT Managed Service Providers. Gartner defines an Read the full article.

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Insightful Accountant

MAY 18, 2023

Massachusetts Society Of CPAs awards scholarships to 51 students across the state.

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Going Concern

MAY 18, 2023

Good news, everyone! The AICPA released an expanded pipeline plan today. If you assumed the plan would revolve around an aggressive effort to bully firms into paying people what they’re worth, you’d be wrong. “The detailed plan features input from a significant set of stakeholders and calls for those stakeholders to work together to increase the number of accounting graduates and the number of graduates who obtain CPA licensure,” reads the Journal of Accountancy article t

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Technology

SkagitCountyTaxServices

MAY 18, 2023

Now, I know that I recently started talking about the new FinCEN reporting requirement and promised a part two… which I’ll absolutely get to in an upcoming blog. But this time I wanted to take the opportunity to speak about the banking “crisis” that has a lot of Skagit County business owners frantically deciding how (and if) they need to respond. You and I can see that the US economy seems to be built on quicksand right now.

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Insightful Accountant

MAY 18, 2023

Intuit has pushed out the R17_23 update to QuickBooks 2020 Desktop Products, including Enterprise 20.0. This update is a companion to the service discontinuation notification regarding the 2020 products.

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quickbooks 52

CPA Practice

MAY 18, 2023

FORVIS, a leading accounting and advisory firm, continues to grow its international presence with an expansion into Canada. The FORVIS Global Advisory Canada ULC office has opened in Toronto and is focused on providing advisory services to clients in the financial services industry. As a wholly owned subsidiary of FORVIS, LLP, FORVIS Global Advisory Canada is positioned to serve the needs of several core financial services clients in Canada, including some of the country’s largest banks.

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audit Technology Account accountant 52

Basis 365

MAY 18, 2023

Outsourcing accounting can be a great way to save time, reduce costs, and improve the accuracy of your financial records. However, before you decide to outsource your accounting, it is essential to understand what to expect from the process. Therefore, let's discuss what outsourcing accounting entails and what you should expect when outsourcing your accounting.

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Advertiser: Paycor

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

CPA Practice

MAY 18, 2023

By Augusta Saraiva – Bloomberg News (via TNS). Applications for U.S. unemployment benefits fell by the most since 2021 after fraudulent claims in at least one state boosted the numbers in previous weeks. Initial unemployment claims fell by 22,000 to 242,000 in the week ended May 13, Labor Department data showed Thursday. On an unadjusted basis, claims decreased by the most in two months, to 215,810, largely due to a drop in Massachusetts.

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Anders CPA

MAY 18, 2023

Each year, with few exceptions, any business that sponsors an employee retirement savings plan, or a 401(k) plan or its equivalent, must file a Form 5500 for each year that the plan holds assets. Understanding what the form is, what it requires and other key facts is essential for plan sponsors and administrators to file it correctly and on time, thereby avoiding costly fees and penalties that can accrue.

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CPA Practice

MAY 18, 2023

The partners and colleagues of Chicago-based accounting and advisory firm Morrison & Morrison are joining EisnerAmper in a transaction expected to close in the summer of 2023. Eisner Amper is one of the largest business consulting firms in the world, with approximately 320 partners and 3,300-plus employees. Founded more than 75 years ago, Morrison & Morrison today has six partners and 40-plus professionals providing tax, accounting and business consulting services to clients in the healt

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FraudFiles

MAY 18, 2023

Lately I’ve been thinking about professional certifications. A financial expert on the opposite side of a case came to the table with 10 certifications listed on his curriculum vitae (CV). And I had to wonder what was the purpose of that? There was lots of overlap.

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forensic accounting Account accountant accounted 52

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Finance

CPA Practice

MAY 18, 2023

A Generation Z (born 1997-2012) participation in the small business workforce has surpassed Baby Boomers (born 1946-1964) and is the only segment in the labor market showing growth. That’s according to a new report from Paychex, Inc. “ The Rise of Generation Z: A Paychex Special Report ” is designed to help business leaders understand the growing importance of this segment to the economy, which makes up nearly 20 percent of the workforce.

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Withum

MAY 18, 2023

Explore Other Episodes #CivicWarriors #WithumImpact The post Patient Advocacy and Support With The Leukemia & Lymphoma Society appeared first on Withum.

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MineralTree

MAY 18, 2023

According to a 2022 report by the Association for Financial Professionals (AFP), 71% of organizations surveyed experienced attempted or actual payments fraud in 2021. Vendor fraud is one common type of fraud used by scammers to steal from businesses of all sizes. It often involves faking vendor information to redirect payments from the accounts payable (AP) team to a fraudster’s account.

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CPA Practice

MAY 18, 2023

By Kristin Alexander. When it comes to managing excise tax compliance, many energy and fuel businesses are burning the midnight oil to keep up. The industry faces continual pressure from mounting environmental and health standards. Complex tax laws that vary across products and jurisdictions add fuel to the fire. Factor in that 63% of energy businesses and 48% of fuel companies included in a recent Aberdeen Strategy & Research study were hit with penalties or interest from audits in the

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"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.

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