Mon.May 13, 2024

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Your clients don't value what you do

Accounting Today

Joe Woodard makes the case that it's accountants who need to change their ideas around value, not clients.

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Avalara and Shopify Expand Partnership for Global Tax Compliance

CPA Practice

Avalara, Inc. , a provider of cloud-based tax compliance automation for businesses of all sizes, has expanded its partnership with Shopify Inc., a provider of essential internet infrastructure for commerce, by joining the Shopify Tax Platform. Through the expanded partnership, Shopify merchants of any size can easily manage and automate global tax compliance with Avalara.

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PCAOB OKs auditor responsibility and quality control standards

Accounting Today

The Public Company Accounting Oversight Board approved two new standards on a firm's system of quality control and the general responsibilities of the auditor in conducting an audit, albeit with pushback on the QC standard from one board member.

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Some Americans Plan a ‘Slow-Roll’ Into Retirement

CPA Practice

Tim Grant Pittsburgh Post-Gazette (TNS) Often when people aged 50 or older contact her, Pittsburgh financial coach Shay Port said the conversation starts with them declaring that they will never be able to retire. “They say things like, ‘I know I will have to work the rest of my life,'” Port said. “And that’s what I try to help them with — actually being able to retire at some point.

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Live Demo: How to Achieve Reconciliation Zen

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

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Navigating Potential Changes to Corporate Tax Rates

Insightful Accountant

Small business owners and tax practitioners are debating whether to elect S corporation status before the potential corporate tax rate increase in 2025 due to the expiration of TCJA provisions.

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Anders Voted to 2024 Best Accounting Firms List by St. Louis Small Business Monthly  

Anders CPA

Anders has been honored on St. Louis Small Business Monthly’s list of Best Accounting Firms for 2024. The Best Accounting Firms were nominated by St. Louis area businesses. As part of Small Business Monthly’s Best in Business Awards, the Best Accounting Firms were nominated by St. Louis area businesses and winners were selected by vote. A full list of Best Accounting Firms can be found in the May 2024 issue of St.

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Press Release: KROST Acts as the Exclusive Financial Advisor to United Filters International in its Sale to ENPRESS LLC.

KROST

Los Angeles, May 13, 2024 – United Filters International (UFI), a recognized leader in the design and manufacture of an expansive range of liquid filtration solutions, was recently sold to ENPRESS LLC, a leading manufacturer of composite pressure vessels and water filtration technologies. KROST was as the exclusive financial advisor and the terms of the Read the full article.

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Art of Accounting: Memoirs of a CPA

Accounting Today

The book tells the story of how Ed Mendowitz became a CPA, built his practice and shares many successes and some disappointments.

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Monday Morning Accounting News Brief: Details on Grant Thornton’s PE Deal; What Is ‘Presented Fairly’ Anyway? | 5.13.24

Going Concern

Hey, people. Monday! Woo. Let’s get this over with. Look out, Big 4. AT&T is coming for your recruits : AT&T Woos Accounting Students, Bypasses Big Four Training Ground AT&T Inc.’s top accountant is confronting a competitive job market by rethinking the company’s traditional reliance on large CPA firms as a training ground for new hires, taking her recruiting pitch on-campus instead.

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Inadequate penalties incentivize malpractice in auditing

Accounting Today

Two recent cases show how a lack of rigorous oversight and real consequences is impacting the profession.

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New DOL Final Overtime Rules: Quickstart Guide for Employers

There’s a new overtime salary threshold that will impact employers across the country. If you have an employee making less than $43,888 on July 1 or less than $58,656 on January 1, you’re going to have to start paying overtime. Download Paycor’s guide to learn: Which groups of employees are affected? How should you classify employees? Best ways to mitigate risk.

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U.S. Office of Management and Budget Revises Uniform Grants Guidance

Cherry Bekaert

What it Means for Federal Agencies and How to Comply Before Implementation Date For the first time in more than 10 years, the U.S. Office of Management and Budget (OMB) released a long-awaited update to its Uniform Guidance, Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. The intent of these updates, is to help grant recipients “focus more on the people they serve and to deliver results for their communities.

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The PCAOB Made Its Own Quality Control Standard and It Took Only 22 Years

Going Concern

The PCAOB announced today that after the more than 20 years since they were forged out of the ashes of the Enron debacle, they’ve finally developed their own quality control standards. Existing quality control standards were developed by the AICPA prior to 2002 and they just couldn’t have that. “Given the significant changes in the auditing environment since that time, QC has been a top modernization priority for the PCAOB,” reads the press release.

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Speaker Q&A: Dr Mhairi Aitken, The Alan Turing Institute

Accounting Insight

Accountex are excited to welcome Mhairi to the show for the very first time. Dr Mhairi Aitken is an Ethics Fellow at The Alan Turing Institute (the UK’s national institute for AI and data science), a Visiting Senior Lecturer at Queen Mary University of London and an Honorary Senior Fellow at the University of Wollongong, Australia. She is a Sociologist whose research examines social and ethical dimensions of digital innovation.

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App Aware: TrulySmall Accounting

Insightful Accountant

TrulySmall Accounting is a product of Kashoo, a software developer that also produces Kashoo Accounting. As the name suggests, TrulySmall is designed for truly small businesses.

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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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What Is Payroll Tax? A Breakdown for Business Owners

inDinero Tax Tips

What is payroll tax? It’s money collected from employee wages and used to fund Social Security, Medicare, unemployment insurance, and other government programs. Since businesses are responsible for calculating, withholding, and remitting the tax to the government, navigating this process can be an administrative challenge. In this article, we’ll explain the basics of the tax and how to do payroll yourself.

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The Inflation Storm: How It Affects Your Small Businesses and 5 Survival Tips

IgniteSpot

Inflation, the silent beast that lurks in the shadows of economic landscapes, can wield significant impacts, particularly on small businesses. As prices rise, budgets strain, and margins tighten, the challenges become more pronounced. Here, we uncover the top five ways inflation impacts small businesses and offer five survival tips to weather the storm.

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What to wear to the office in 2024?

Reckon

There’s no doubt that the fashion trends for office and professional workwear has shifted dramatically over the last 20 years. Many young office workers in junior roles used to don suits just to sit in a cubicle and wear out the seats of their overpriced pants. Generally speaking, this is no longer the case. So, in post-pandemic world where we’ve become accustomed to working from home in our jim-jams and have billionaire CEOs trotting around in hoodies, what should you be wearing to work now?

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What Is Payroll Tax? A Breakdown for Business Owners

inDinero Tax Tips

What is payroll tax? It’s money collected from employee wages and used to fund Social Security, Medicare, unemployment insurance, and other government programs. Since businesses are responsible for calculating, withholding, and remitting the tax to the government, navigating this process can be an administrative challenge. In this article, we’ll explain the basics of the tax and how to do payroll yourself.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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The demand order is set aside as issued post cancellation of GST registration and opportunity of being heard was not given

VJM Global

As held by Hon’ble High Court of Madras In the matter of M/s. Thirumurugan Traders (Defunct) Vs The Deputy State Tax Officer – I, (WPW.P.No.8378 of 2024) The petitioner was registered under GST and got his GST registration cancelled with effect from 27th Feb, 2019. The order was issued against the petitioner in Form GST DRC-07 for the period of July, 2017 to March, 2018.

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Apple Pay

Canopy Accounting

What's new: We are excited to announce that Apple Pay is now available as a payment option in the Canopy Client Portal App, in addition to ACH and credit card payments. With this update, clients using iPhones or iPads can enjoy the seamless convenience of Apple Pay for settling their invoices directly within the app. This feature is powered by Canopy Payments and is available for one-time payments.

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Menzies recognised as Sunday Times’ Best Places to Work 2024

Menzies

Menzies LLP - A leading chartered accountancy firm. Menzies LLP were listed as one of Sunday Times’ Best Places to Work 2024, in the ‘Big Organisation’ category. Over 70,000 businesses who entered Sunday Times’ Best Places to Work 2024 were reviewed, so Menzies are delighted to have been listed, and to have been named amongst the top 1% of companies who entered.

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Trump Pledges ‘Upper Class’ Tax Cut If He Returns to White House

CPA Practice

By Ranjeetha Pakiam, Laura Davison and Hadriana Lowenkron, Bloomberg News (TNS) Donald Trump pledged to double down on tax cuts if he wins a second term as president, drawing a distinction with President Joe Biden who has called for tax hikes on businesses and the richest Americans. “Instead of a Biden tax hike, I’ll give you a Trump middle class, upper class, lower class, business class big tax cut,” Trump said at a rally Saturday in Wildwood on the New Jersey shore.

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Planning Your Restaurant's Path to Profitability

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.

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Where’s Your GAAP: Transportation and Logistics Companies Need Clean Financials to Grow and Sell

Anders CPA

When I open a new client’s books to look at net income, I usually see a rollercoaster. Huge profits on some months, alternating with huge losses on others. “I thought it was a great month,” the CEO will tell me. “I don’t know how we lost that much.” It’s always a relief when I can explain to them: “You probably didn’t.” A net income sheet that has more ups and downs than an amusement park usually means one thing: The company’s bookkeeper is not using GAAP – generally accepted accounting principl

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ConvergenceCoaching launches 2024 'Anytime, Anywhere Work' survey

Accounting Today

The 2024 ATAWW survey is fielding responses from both firm team members and firm leadership about remote, hybrid and flexible work practices.

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Better off on Xero: Steps to process and finalise payroll

Xero

With just over six weeks remaining in FY24, now is a great time to think about your EOFY preparation. A good place to start? Preparing your payroll to make finalisation as easy as possible come July. Completing your EOFY is better off on Xero. To help you get you through from start to finish, we’ve included some handy steps to guide you through the process. 1.

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Trump pledges across-the-board tax cuts if he returns to office

Accounting Today

Whichever candidate wins the White House in November will have to contend with tax negotiations in 2025 with the personal income tax cuts in Trump's 2017 law set to expire unless Congress acts.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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