Mon.Jun 03, 2024

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Are you managing payroll and remaining compliant?

Accounting Insight

Accountants are often juggling multiple responsibilities when working with clients. For those working in-house, in finance teams or departments, it might well be that payroll has simply fallen within their remit, and so accountants who are less familiar with the nuances of payroll find themselves tasked with completing this very important task. While there’s no doubt that accountants are experts in finance, payroll can pose new challenges.

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Accounting Today news quiz: June 3

Accounting Today

Test your accounting knowledge on Gen Z employees, big four AI partnerships, and more. No. 2 pencil not required!

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Tax Audit Representation: A Step-by-Step Guide

MyIRSRelief

Tax Audit Representation Learn how to navigate tax audits with confidence. Our step-by-step guide highlights the benefits of working with an Enrolled Agent for expert representation. Facing a tax audit can be a daunting experience, but with the right representation, you can navigate the process with confidence. In this comprehensive guide, we’ll walk you through the essential steps of tax audit representation, highlighting the benefits of working with an Enrolled Agent (EA).

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The 20 most charitable states in America

Accounting Today

Where are residents the most giving? Check out this ranking, which tracks the states with the most charitable donations, as well as volunteering and service.

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

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2024 Accounting Thought Leader Think Tank Focused on Challenges Facing Profession

CPA Practice

Accounting, financial and tax professionals continue to face challenges related to talent, data security, regulations, and rapid changes in technology and firm culture. As the annual AICPA ENGAGE conference was set to convene in Las Vegas, dozens of firm leaders, educators, consultants and advisors to the profession met on Sunday, June 2, 2024, for a day-long pre-conference Thought Leader Think Tank to discuss these and other issues.

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2 methods to avoid capital gains in a home sale

Accounting Today

The Section 121 exclusion and the step-up in basis are well known to financial advisors and tax professionals, but their clients will need to plan carefully to net the biggest potential savings.

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More Trending

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GASB finds pension standards met objectives

Accounting Today

The Governmental Accounting Standards Board released a post-implementation review report on its pension standards and found they mostly accomplished their goals.

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Ledgible Rolls Out SpecID Feature for Digital Asset Tax Reporting

CPA Practice

Ledgible has made available new functionality for specific identification tax calculations, the crypto tax and accounting platform said on May 29. Ledgible’s specific identification support enables users to identify and mark digital assets of noted sales to calculate tax based on the designated tax lots. Using specific identification, Ledgible users can optimize tax calculations tailored to their specific needs, the company said.

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Practice Profile: Rehmann assembles a team to take on the future

Accounting Today

Stacie Kwaiser is setting the direction of the Top 100 Firm based on her own vision — and the collective ideas of the firm

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Canopy Roadmap Webinar Q&A

Canopy Accounting

We were thrilled to see your excitement and participation. Despite several people responding to your questions in real-time, so many still came in. Thank you for your curiosity and requests. Our shared roadmap is incomplete but focused on our most prominent features that have been fully committed to and prioritized.

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Live Demo - Supercharge your Month End Close

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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New chief taxpayer experience officer named at IRS

Accounting Today

Agency veteran Fumino Tamaki and her staff will work with other IRS units to apply customer service best practices.

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How to Pay Your Bill Online

Anders CPA

Anders partners with Aiwyn for invoicing and payments. Anders clients can securely pay invoices via credit or ACH transfer through Aiwyn by logging in through the button below. Need help paying online? Visit our Client Center for payment how to’s and an Aiwyn video tutorial. LOGIN TO PAY ONLINE The post How to Pay Your Bill Online appeared first on Anders CPA.

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Art of Accounting: Building wealth

Accounting Today

CPAs do very good jobs helping clients build wealth, but many do not do so good with themselves. Here are some tips to help you grow your wealth.

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ShareFile Introduces New Accounting Functionalities

Insightful Accountant

ShareFile recently introduced several new features tailored to the evolving needs of accounting professionals.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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Forvis and Mazars combine on global network

Accounting Today

The global accounting network will have a combined $5 billion in revenue, 40,000 employees and nearly 1,800 partners in 103 different countries.

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QuickBooks Recertification Training For June, 2024

Insightful Accountant

It's time for most QuickBooks Online ProAdvisors ('Core' or 'Advanced') to Recertify. June 30, 2024 is the deadline for Recertification Exam completion.

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Taking her firm forward

Accounting Today

Laura Sprouse, the new CEO of Top 100 Firm Brown Edwards, shares her path to leadership, and where she's taking her firm in the future.

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Importance of Impact Accounting With IFVI

Withum

In this episode of Civic Warriors, we speak with Rob Zochowski, President and CEO of International Foundation for Valuing Impacts (IFVI) on the importance of impact accounting.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. 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 (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). 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.

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Autodesk CFO replaced by board after accounting investigation

Accounting Today

The software maker's shares soared by the most in more than a year after the company reassigned its chief financial officer, resolving an internal accounting investigation that delayed filings for weeks.

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Integrating tax technology for success: Thomson Reuters ONESOURCE solutions certified as SAP Endorsed Apps

ThomsonReuters

Managing tax compliance is challenging enough with changing global regulations and tight staff limitations. Combine those challenges with manual data entry and disparate systems, and it becomes an inefficient quagmire of time-consuming, tedious tasks. The problem with ad hoc tax compliance workflows Companies are trying to address these challenges with technology, but too often, they’re not creating the desired efficiencies.

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Boomer's Blueprint: With AI, it's not the tool that determines your success

Accounting Today

Making the most of artificial intelligence requires leadership, project management and process management.

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Natural Disasters and Their Impacts on Resorts: Strategic and Insurance Accounting Considerations

Withum

In the vast and intricate tapestry of Earth’s dynamic ecosystems, natural disasters emerge as awe-inspiring yet devastating phenomena that have changed how we approach our day-to-day lives and manage our property. In recent years, there seems to have been an uptick in the frequency and devastation from the earth-shattering tremors of earthquakes, the emptiness left behind by fires and flooding, and the majestic fury of hurricanes and tornadoes, to name a few.

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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.

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M&A roundup: CLA, Marcum, Doeren Mayhew, Rea expand

Accounting Today

Former Baker Tilly member firms in Mexico joined CliftonLarsonAllen Global to create CLA Mexico; Marcum Technology acquired CLA's IT Enhanced Managed Services Division; Doeren Mayhew acquired Nearman, Maynard, Vallez CPAs; and Rea & Associates merged in Koontz & Parkin, CPAs.

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2024 Tax Deduction for Meals and Entertainment

Dent Moses

The meals and entertainment deduction has gone through several revisions in recent years. Before 2018, meals and entertainment were eligible for a 50% tax deduction. Beginning with the 2018 tax year, the Tax Cuts and Jobs Act eliminated the deduction for entertainment expenses altogether, while most meals remained 50% deductible. In 2021 and 2022, the Consolidated Appropriations Act temporarily gave taxpayers a 100% deduction for certain meals in an effort to support restaurants impacted by COV

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MicroStrategy and its co-founder Saylor will pay $40M to settle DC tax fraud lawsuit

Accounting Today

The Washington, D.C., attorney general's office sued Saylor in August 2022, alleging the crypto billionaire had failed to pay more than $25 million in income taxes.

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Hancock Askew Adds Nine New Partners

CPA Practice

Top 200 accounting firm Hancock Askew & Co. hit a milestone on May 31, as it admitted nine professionals to the partnership—the biggest new partner class in the Savannah, GA-based firm’s 114-year history. Hancock Askew has experienced significant growth, increasing from $20 million in revenue, four offices, and about 140 team members in 2020 to $60 million in revenue, seven offices, and 300 professionals in 2024.

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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.

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One Minute Primer on Ponzi Schemes

FraudFiles

In this one minute video, Tracy explains how Ponzi schemes work. They are also called pyramid schemes because the constant recruitment of new "investors" creates the shape of a pyramid, with many new investors required at the bottom of the pyramid to pay "returns" to the earlier investors. The hallmarks of a Ponzi scheme include: [.

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Rea & Associates Merges in Koontz & Parkin in Florida

CPA Practice

Top 100 accounting firm Rea & Associates has merged in Sarasota, FL-based CPA firm Koontz & Parkin, effective June 1. Financial terms of the deal weren’t disclosed. Koontz & Parkin and Rea & Associates will be one firm under the Rea name, continuing to operate out of the Koontz & Parkin office in Sarasota, in addition to Rea’s Ohio offices.

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3 Minutes with John Toon

Accounting Insight

John is Tech Advisory Lead at Beever & Struthers, Chartered Accountants and Business Advisors and also hosts the UK’s fastest-growing accounting tech podcast. How did you get into the profession? I kind of fell into accounting. I was expecting to pursue a career in sports science but gave up on going to university after working for PGL and other outdoor companies for 3 years.

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Vena Integrates Microsoft PowerPoint Into Platform

CPA Practice

Business planning software provider Vena recently introduced Vena for Microsoft PowerPoint, a native integration with Microsoft 365 that enables strategic finance and operations teams to provide insightful financial presentations. Vena for Microsoft PowerPoint combines Vena’s reporting and analytics capabilities with the advanced productivity and collaboration features of Microsoft 365 and Microsoft PowerPoint’s familiar interface to help finance teams build presentations that turn data into imp

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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.