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In the WaPo opinion pages yesterday one Duncan Mavin, who got his start in the 90s, says the best way to solve the audit industry’s many conflicts is to kill it altogether. He starts the piece summoning the ghost of Enron, as all writers do when discussing what happens when audit goes wrong. Bringing things back to this decade, he then talks about what’s going on at PwC Australia even though auditors weren’t the ones using confidential government data to bill clients for tax av
Tax problems can be a nightmare for individuals and businesses. It can cause stress, anxiety, and even serious seizure issues if not handled correctly. Tax audits, unpaid back taxes, and unfiled tax returns are just some of the most common tax-related issues that can arise. While dealing with these problems on your own can be overwhelming, hiring a professional tax firm can provide you with a peace of mind and efficient resolution.
Last time, we looked at trailing nexus and a few reasons you might want to cancel your sales tax registration with a state. You can want to do this for many reasons. A few of them: your company doesn’t have nexus in a state or jurisdiction anymore and you don’t expect to have it again soon; the state has enacted marketplace facilitator laws and now the marketplace is responsible for collecting and remitting the sales tax; your business is passing to new ownership.
A professional services model can provide the revenue you need to scale your product while delivering valuable market insights. The post Hatching a SaaS Startup? Consider Leading with Services appeared first on Burkland.
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.
The IRS and the Treasury Department on Wednesday provided additional information about the application process and technical guidance for the qualifying advanced energy project credit program under section 48C of the Internal Revenue Code, which was re-established last year by the Inflation Reduction Act. The qualifying advanced energy project credit program renews and expands a tax credit created in 2009 through the American Recovery and Reinvestment Act.
Undeterred by the embarrassment of Everest’s implosion, EY proudly announced today that 966 people have been promoted to partner across the globe. That’s down from the record 1,033 promoted to partner in 2022. The obligatory press release makes sure to mention that these promotions reflect continued growth and strong business performance by the organization.
AICPA News is a round-up of recent announcements from the American Institute of CPAs. AICPA & CIMA Now Offers New Learning Tools for Accounting Professionals The AICPA & CIMA recently announced the offering of anew online learning platform to help accounting and finance professionals improve and update their skills to take advantage of a digital accelerating business environment.
AICPA News is a round-up of recent announcements from the American Institute of CPAs. AICPA & CIMA Now Offers New Learning Tools for Accounting Professionals The AICPA & CIMA recently announced the offering of anew online learning platform to help accounting and finance professionals improve and update their skills to take advantage of a digital accelerating business environment.
The U.S. Senate voted 63-36 on Thursday evening to pass a debt limit bill that cleared the U.S. House of Representatives only one day before. The bill will now head to President Joe Biden, who is expected to sign the bill into law on Friday. The rapid approval followed months of contentious haggling between Republicans and Democrats over whether to allow the U.S. government to borrow more in order to pay the debts that Congress has already promised to spend.
Over a third (36%) of accountants are considering leaving the profession in the next five years, including 30% of under 25s, new data from cloud pre-accounting platform Dext has revealed. This is particularly concerning as the number of accountancy students has decreased in recent years. Dext surveyed 250 accountants and bookkeepers across the UK to determine accountant attitudes towards the profession and what they need to be happier in their roles.
By David Woodworth. Before early 2024, tax teams must learn how to balance the additional requirements of the Base Erosion and Profit Shifting (BEPS) 2.0 Pillar Two agreement, while prioritizing strategic, value-add activities. BEPS 2.0 Pillar Two will impose new data reporting requirements and additional global tax compliance challenges for multinational business with turnover greater than 750M EUR.
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.
Between a labor shortage and the Great Resignation, hiring and retaining experienced talent has been difficult – and employers are tired. But how can companies find the talent they need while staying true to their culture and values? In this episode of But Who’s Counting? , host David E. Hartley met with female founder and HireLevel. CEO Teresa Katubig to discuss the ways that leadership can hire, train and take accountability for employees, whether they’re in temporary or permanent positions.
The future is here: You can now easily send AI-drafted marketing emails for your firm. Intuit Mailchimp has launched Email Content Generator (beta), which provides GPT AI technology to allow customers to create marketing email campaigns based on industry, marketing intent, and brand voice. Currently, this is only available to Mailchimp customers in the United States in certain industries.
QUESTION: Is our group health plan permitted to outsource the roles of HIPAA privacy official and security official? ANSWER: Possibly, but it would be prudent to seek the advice of legal counsel given the absence of official guidance. Most covered entities must designate a privacy official who is responsible for the development and implementation of the entity’s HIPAA privacy policies and procedures.
The IRS and the Treasury Department issued proposed regulations on May 31 for applicants investing in certain solar- and wind-powered electricity generation facilities. The IRS on Feb. 13 provided guidance to establish a program—the Low-Income Communities Bonus Credit Program under Section 48(e) of the Internal Revenue Code—to allocate amounts of environmental justice solar and wind capacity limitation to qualified solar and wind facilities eligible for the investment tax credit.
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.
IRS Notice 2023-43 (May 25, 2023) Available at [link] The IRS has issued Notice 2023-43, providing interim guidance on the expanded self-correction program under the Employee Plans Compliance Resolution System (EPCRS). As background, the SECURE 2.0 Act made sweeping changes to self-correction under EPCRS (see our Checkpoint article ). While the changes technically took effect December 29, 2022, the extent to which the SECURE 2.0 Act changes plans’ current self-correction options is uncertain b
Last quarter’s modest lift in business executives’ view of the U.S. economy proved short-lived, with a majority now expressing pessimism about the next 12 months, according to the second-quarter AICPA & CIMA Economic Outlook Survey. The survey polls chief executive officers, chief financial officers, controllers and other certified public accountants in U.S. companies who hold executive and senior management accounting roles.
Marketing agencies often make accounting mistakes due to their primary focus on marketing activities rather than financial management. These mistakes can significantly affect their financial health and overall business operations. However, a practical solution to avoid these pitfalls is to consider outsourcing their accounting needs to professionals who specialize in accounting services for marketing agencies.
In today’s interconnected world, where organizations count on various software technologies to streamline operations, the implication of system integration is significant. Developing a robust IT infrastructure can be an intricate process that requires time and resources, while having a big-picture perspective. In this episode of Cherry Bekaert’s Digital Journeys podcast and the third part of our system integration series, Jim Holman , Director and Strategy & Operations Leader, recon
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.
7 min read The most important functions of your business are your core competencies or your company's main revenue sources (i.e. selling, producing, and improving the products or services you provide). Key Takeaways The Benefits of Outsourcing Your Back Office: 70% of business owners switched to outsourced accounting to reduce costs.
Last week, AccountingDepartment.com's Sr. Technology Integration Specialist, Joy, was able to attend Expensify's ExpensiCon event in Puglia, Italy! ExpensiCon is a 5-day event packed full of connecting, community building, and getting stuff done.
Memorial Day doesn’t always mean rest for the small business owner — depending on what kind of industry you’re in. There’s often a lot of hustle around national holidays (special promotions, big sales, holiday weekend shopping). And debt ceiling deals to make, apparently, since that’s what our government was working on over the weekend. Some notables: Decreased IRS budget (20 billion less than the projected 86 billion previously allotted by the American Rescue Plan) An end to unilateral extensio
Private sector employment increased by 278,000 jobs in May and annual pay was up 6.5 percent year-over-year, according to the May ADP National Employment Report produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab (“Stanford Lab”). The jobs report and pay insights use ADP’s fine-grained anonymized and aggregated payroll data of over 25 million U.S. employees to provide a representative picture of the labor market.
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.
Managing accounts payable can be a time-consuming and challenging task, especially for businesses with limited resources. Thankfully, the right accounts payable software can help businesses streamline their payment processes, reduce manual errors, and improve efficiency. QuickBooks is a popular accounting software for small and mid-sized businesses.
Attention, business owners! Are you tired of drowning in spreadsheets and losing valuable time to mind-numbing bookkeeping tasks? It’s time to reclaim your freedom and focus on what truly matters.
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.
Attention, business owners! Are you tired of drowning in spreadsheets and losing valuable time to mind-numbing bookkeeping tasks? It’s time to reclaim your freedom and focus on what truly matters.
Small businesses with one to nine employees in the US saw monthly employment decrease of 0.16% during May, 2023 according to the Intuit QuickBooks Small Business Index.
The Indiana CPA Society has joined the growing coalition committed to advancing diversity, equity and inclusion (DEI) within accounting through Accounting+, a nationwide campaign to attract a new generation of diverse students into the talent pipeline. Led by the Center for Audit Quality (CAQ), a nonpartisan public policy organization serving as the voice of U.S. public company auditors, Accounting+ is a first-of-its kind, profession-backed, campaign to actively engage high school and college st
For this podcast episode, I want to share three marketing strategies that your firm should steer clear of, along with the compelling reasons behind this advice. Listen below. 0:36 – It’s important to note that while these strategies have the potential to be effective, they often fall short due to their flawed setup and execution. 0:46 – The first marketing strategy to avoid is paid ads, as it tends to underperform due to various factors despite its initial simplicity. 1:30 R
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.
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