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"The real value of Canopy is how it comes together — I think Canopy understands what's going on in a firm." Profile BookSmarts Tax & Accounting Services is a year-round small business accounting firm with more than 20 years of experience. Their small team enables small businesses to concentrate on running their business by leveraging state-of-the-art technology and competitive pricing in their services.
The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in parts of Florida. These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA).
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The IRS has provided guidance on the federal tax status of refunds of state or local taxes and certain other payments made by state or local governments to individuals. The IRS previously provided guidance on state payments made in 2022: IRS issues guidance on state tax payments to help taxpayers. The guidance is being issued as part of the IRS’s efforts to provide additional certainty to states and their residents regarding the federal income tax consequences of state payments made to taxpayers
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By Jane Willis. There is no time like the present for accounting firms that want to start providing client advisory services (CAS) offerings to clients: data from Association of International Certified Professional Accountants (AICPA) and CPA.com’s 2022 CAS Benchmarking Survey shows that interest in CAS remains high, with a continued double-digit growth trend since the survey began in 2018.
By Adam Powell, CPA. As accounting continues to evolve from the traditional services to a model that favors value-added contributions, the number of companies offering targeted services for specific niche markets should continue to proliferate. Identified as one of the key industry trends of late, firms that offer specialized accounting services (SAS), combining analytics, business intelligence, and technology-based solutions, are primed for success.
Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. P.S. We’re off for Labor Day, hope you are too. The Monday Morning News Brief will be published Tuesday.
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.
The institute's Auditing Standards Board issued an exposure draft for some proposed changes in the attestation standards for quality management and is asking for comments.
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On August 30, 2023, the IRS announced relief from certain tax filing and payment deadlines for individuals and businesses in parts of Florida that were affected by Hurricane Idalia. The relief, provided in IR-2023-159 and FL-2023-06 , extends to any county designated as a major disaster area by FEMA, and to counties added in the future. 46 of Florida’s 67 counties were mentioned in the News Release, but others have been added since then.
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Plus, Expensify adds enhanced insights and custom reporting functionality; IMA launches new cybersecurity certificate program; and other accounting tech news.
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