Mon.Sep 11, 2023

article thumbnail

Low-Risk Investment Instruments for Venture-Backed Startups

BurklandAssociates

Startups should invest their excess capital with the objective of earning market-based returns on near risk-free instruments. The post Low-Risk Investment Instruments for Venture-Backed Startups appeared first on Burkland.

147
147
article thumbnail

IRS use of AI in tax audits could be a game changer, but with pitfalls

Accounting Today

The Internal Revenue Service will need to tread carefully with how it uses AI amid growing questions about the reliability of the technology.

Gaming 138
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

Small Business Purchasing Best Practices

SMBAccountant

Purchasing is an important function for any size business, whether large or small, because it has a direct impact on costcontrol, efficient operations, quality, and vendor relationships. Failure to follow best practices when purchasing goods and services can expose a small business to compliance violations, cash flow problems and missed savings opportunities.

article thumbnail

PwC to take big steps on audit quality, independence, accountability

Accounting Today

The Big Four firm plans to stop offering some types of services to SEC-registered audit clients, and to cut the compensation of top leaders if the firm's audits fall short on quality.

audit 132
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

According to Deloitte, Partners Crowdsurfing in Mosh Pits is Not a Party

Going Concern

Deloitte Australia’s 1,000 or so partners gathered in Adelaide at the end of August and according to Sydney Morning Herald reporting ahead of the totally-business-and-not-pleasure gathering, it was absolutely in no way whatsoever a party. Per Deloitte themselves. Consulting giant Deloitte is holding a big partner bash from Thursday, flying in more than 1000 partners and nearly booking out a couple of five-star hotels in town.

article thumbnail

The perils of promotions

Accounting Today

Promoting a top performer doesn't always guarantee they'll stay — ADP's Nela Richardson shares how to navigate these transitions better.

126
126

More Trending

article thumbnail

Cetera acquires Avantax for $1.2B

Accounting Today

The tax-focused financial planning and wealth management company that partners with accounting firms is going private and joining a larger financial firm.

article thumbnail

It’s Not You, It’s Me: Tips for Effective Team Communication

CPA Practice

Imagine this scenario: You’re explaining a complex multi-state tax return project to a co-worker. A mere thirty seconds in, you notice their concentration waning they seem to be elsewhere mentally, opting to sketch on their notepad rather than engage. You walk away thinking you have explained the situation perfectly but can’t shake the feeling that they didn’t understand you.

article thumbnail

Don't offshore. Automate instead

Accounting Today

Leveraging GenAI to automate tasks versus offshoring them is a key competitive advantage.

article thumbnail

4 Ways to Deduct Commuting Costs from Taxes

CPA Practice

Do you incur expenses commuting to and from work? Generally, you can’t deduct these transportation costs. The IRS views commuting as a purely personal expense even though you’re going to work for business reasons. And it doesn’t matter if you’re driving your own vehicle or if you travel by bus, rail, taxi or a ride service like Uber or Lyft. To qualify for transportation deductions, you must be traveling away from your tax home to a business location.

Tax 119
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

Cohen leads in new SEC clients again

Accounting Today

A March acquisition continued to yield dividends for the Cleveland-based Top 50 Firm; Deloitte and CohnReznick also saw big gains.

audit 119
article thumbnail

Top 100 2024 Clues: More Training Opportunities

Insightful Accountant

Murph is prone to repeating himself these days. That's especially so when it comes to important clues, like "don't miss training opportunities" for Top 100 2024.

119
119
article thumbnail

Don’t Overlook Tax on Cryptocurrency Staking Rewards

CPA Practice

By Joy Taylor, Kiplinger Consumer News Service (TNS) A man asking a court to rule on the taxation of staking rewards got bad news. A federal appeals court tosses his case. He filed a refund claim alleging that token rewards he got from staking cryptocurrency are created property that is not taxed on receipt but on disposition. The IRS first disallowed his refund claim.

Tax 116
article thumbnail

Xero Beautiful Business Fund: Ways for accountants and bookkeepers to get involved

Xero

Last month on stage at Xerocon Sydney, we announced that applications officially opened for the Xero Beautiful Business Fund. We’re giving away more than NZ$750,000 to eligible Xero small business customers across Australia, Canada (excluding Quebec), New Zealand, Singapore, South Africa, the UK and the US. While this initiative is targeted at small businesses, our accounting and bookkeeping partners play a key role in driving small business success and we’d love for you to help get your client

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

IRS Appeals 2022 Ruling in $11.5 Million Tax Dispute with Mayo Clinic

CPA Practice

By Jeff Kiger, Post-Bulletin, Rochester, Minn. (TNS) A precedent-setting $11.5 million tax legal battle is going into its seventh year, because the IRS is appealing the 2022 ruling that Mayo Clinic “operated exclusively for educational purposes.” On Sept. 1, 2023, the IRS submitted an appeal of U.S. District Judge Eric Tostrud’s bench ruling in favor of Mayo Clinic.

article thumbnail

Navigating ESG in the E-Commerce Industry: Sustainability, Responsibility, and Success

Withum

In today’s world, digital commerce is constantly expanding. Due to their convenience and accessibility, new e-commerce storefronts are regularly formed as businesses move away from the traditional brick-and-mortar business model. With their growing influence, it is important to understand how environmental and social governance issues impact the e-commerce business model.

article thumbnail

State CPA Society News & Updates – September 2023

CPA Practice

State CPA Society News & Updates is a round-up of recent announcements and initiatives by CPA associations in the United States and its territories. The Wisconsin Institute of Certified Public Accountants or WICPA has announced a series of upcoming conferences including the following: Business & Industry Fall Conference – September 18, 2023 at the Brookfield Conference Center in Brookfield, Wisconsin, which will be livestreamed for those not able to attend the conference in person.

CPA 111
article thumbnail

How Much Should My Architecture Firm Pay for Controller Services?

GrowthForceBlog

6 min read A business's back office has many moving parts, and each piece must operate within a sound framework to function properly.

104
104
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

Five Simple AI Strategies to Unlock More Freedom and Productivity in Your Practice

CPA Practice

By Shane Westra. Artificial Intelligence, or AI as it is regularly referred to, is undoubtedly the business buzzword of the year. This is for good reason because this technology continues to make many common business functions far more efficient than ever before, including new solutions that can help accounting firms advance their productivity and unlock more freedom for firm owners and employees.

article thumbnail

The Great Resignation turns into Great Stagnation for Big Four

Accounting Today

Britain's accountants, auditors and advisers are clinging to their jobs, nervous that their negotiating power has sharply dropped.

auditor 80
article thumbnail

Students Sought for Accounting Internship Preparation Program

CPA Practice

The Illinois CPA Society (ICPAS) is encouraging aspiring certified public accountants (CPAs) to apply for its 12th annual Mary T. Washington Wylie Internship Preparation Program to be held virtually Jan. 3-5, 2024. The award-winning, three-day program aimed at increasing diversity in the CPA profession is now accepting applications until Nov. 6, 2023, at www.icpas.org/mtww.

article thumbnail

Art of Accounting: 15 stress and burnout relievers

Accounting Today

Stress reduction can be accomplished by how realistically we view our roles, control what we do, commit to deadlines, and understand our own capabilities and time allocation.

Account 61
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

Most Young Americans Want to Lower the Retirement Age

CPA Practice

Among millennials and Gen Zers surveyed, more than half believe the retirement age should be lowered. Of this group, the majority (59%) say the retirement age should be changed to age 60 or lower. Fifty-five percent believe this change should take place for everyone, while the minority favor a slower rollout of the changes over time that would affect younger generations.

Start-ups 105
article thumbnail

Future Forward 2023: K2's Artificial Intelligence For Accounting And Financial Professionals

Insightful Accountant

In the second track from 'Future Forward September 2023,' K2 Enterprises' Randy Johnston demystifies AI and unveil its practical applications, transforming it from theory into a hands-on tool. Sign up here.

Account 59
article thumbnail

CPA Business Funding Portal Supports New SBA Program Rules

CPA Practice

Biz2Credit and CPA.com have updated the CPA Business Funding Portal , a cloud-based platform that helps accounting firms secure financing on behalf of their clients, to reflect the Small Business Administration (SBA)’s new lending regulations announced on Aug. 10, 2023. With this update, accounting firms will be even better positioned to deliver financing advisory services and help their clients access much needed capital more quickly and easily during a time when small businesses are experienci

CPA 105
article thumbnail

Clarification on Difference in ITC availed in GSTR-3B and GSTR-2A, TCS in case of multiple e-commerce operators and ITC reversal on warranty replacements

VJM Global

1. Clarification on the availing of Input Tax Credit (ITC) in GSTR-3B and GSTR-2A for the period 01.04.2019 to 31.12.2021 | Circular No. 193/05/2023-GST Background: CBIC has clarified the manner of dealing with differences in ITC available in GSTR-3B and ITC available as per GSTR-2A vide C ircular No. 183/15/2022-GST dated 27th December, 2022 for FY 2017 -18 and 2018-19 in various situations.

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

TaxBit Announces AI Enabled Rules Engine for Crypto Accounting

CPA Practice

TaxBit, the premier end-to-end modern tax and accounting solution for the digital economy, announced its AI-enabled rules engine to empower businesses dealing with cryptocurrencies to streamline their accounting processes. As the global cryptocurrency market surpasses a market capitalization of over $1 trillion, businesses face mounting challenges in accurately managing crypto transactions.

article thumbnail

2023 Changes for First Year Expensing of Business Property

Dent Moses

As we get closer to year-end, it’s a good idea to consider first-year expensing for eligible property and equipment already purchased and any anticipated purchases before year-end. In 2023, there are two options for businesses to take accelerated first-year depreciation deductions: (1) Section 179 and (2) bonus depreciation. Section 179 Deduction IRC Section 179 allows a first-year depreciation deduction equal to 100% of the cost of qualifying property placed in service in the year.

article thumbnail

30 Percent of Gen Zers and Millennials Say Retirement Age Should Be 60 or Younger

CPA Practice

According to a new survey of attitudes toward careers and retirement, 51 percent of millennials and Gen Zers surveyed say they want to lower the retirement age. Of that group, 59 percent say the retirement age should be adjusted to age 60 or younger. This equates to 30 percent of all survey respondents. The survey was commissioned by ResumeBuilder.com , a resource for professional resume templates and career advice.

Maine 64
article thumbnail

Take Project Management in Business Central to the Next Level With?Advanced Projects

Withum

The Microsoft Dynamics 365 Business Central Progressus Advanced Projects functionality enhances Microsoft’s out-of-box functionality for project accounting and project management in Business Central. Advanced Projects makes project budgeting, resource planning, time entry and project billing more complete. This is valuable for businesses across all industries, especially Professional Services and Technology companies.

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.