Thu.Nov 30, 2023

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5 Benefits of Sales and Use Tax Overpayment Reviews | TaxConnex

TaxConnex

Blog authored by Scott Schwertner, National Director of Sales and Use Tax for Invoke Tax Partners. With extensive experience in both the industry and sales tax consulting side, Invoke Tax Partners National Director of Sales and Use Tax, Scott Schwertner, knows how difficult it can be for businesses to get sales tax right on every transaction. It is common for businesses across the United States to pay sales tax and accrue use tax on purchases that are not taxable, resulting in an unnecessary hit

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Accountants, IRS and DOJ hunt for fraud

Accounting Today

The Internal Revenue Service is warning taxpayers to be on the lookout for charity fraud as accountants look to advise clients on how to detect and avoid fraud.

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Preparing for the 1099 Filing Season: Are You Ready? 

Withum

1099 filing season is approaching, and now is the time to review your vendor information to ensure everything is in order come January. Let’s break down what you need to know ahead of time. First, you want to familiarize yourself with the standard 1099 forms that most companies must file. 1099 NEC (Non-employee Compensation) reports payments of at least $600 or more in the calendar year to non-employees for services rendered. 1099 MISC (Miscellaneous) reports miscellaneous payments such as ren

Start-ups 126
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Audit committee disclosures increased over past decade

Accounting Today

Corporate audit committees have been providing investors with a greater number of disclosures about their activities and responsibilities over the past 10 years, but there's still room for improvement.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

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EY’s Pushing Start Dates Back…Again

Going Concern

As reported by Financial Times and amplified by people with offers freaking out on Reddit, EY is pushing start dates back for new hires in advisory. Again. FT : The Big Four firm told recent graduates who had originally expected to start work this autumn that some of them would now not be required until July or August 2024, almost a year late. The decision was “based on emerging business conditions and our assessment of our business needs”, according to an email on Tuesday from EY’s campus recru

Start-ups 115
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Hong Kong firm adds the most SEC audit clients in Q3

Accounting Today

Ark Pro CPAs topped the league tables in the third quarter, with five new SEC clients, all in China.

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More Trending

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Accountants find businesses fall short on emission reduction plans

Accounting Today

A sizable proportion of businesses have yet to produce an emissions reduction plan and have no plans to do so, even as global temperatures have reached a record high this year, according to a new report.

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FinCEN Set to Begin Enforcement January 1, 2024

Insightful Accountant

The Financial Crimes Enforcement Network, part of the U.S. Department of Treasury is set to begin Small Entity Compliance implementation and enforcement of provisions related to Beneficial Owners Reporting as of January 1, 2024.

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Senate Democrats propose billionaire income tax

Accounting Today

A group of Senate Democrats and independents introduced legislation Thursday to curb tax breaks for billionaires.

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Case Study: Running the Favorite Tools in Your Practice

Insightful Accountant

Accounting now heavily relies on various applications and systems. Unfortunately, these are often different, either cloud-based, SaaS, or desktop. This poses security risks as firms lack IT support.

Account 111
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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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PCAOB sanctions three Chinese firms, including PwC affiliates

Accounting Today

The Public Company Accounting Oversight Board levied penalties against three firms in China, including member firms of PricewaterhouseCoopers that it found were improperly sharing answers to exams.

Account 123
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The Benefits of Continuous Planning for Your Business

AccountingDepartment

As a business owner or CEO, have you ever felt frustrated when the budget you made at the beginning of the year has become irrelevant halfway through? Have you ever wished for a more flexible and agile way to manage your finances? If so, you might want to consider continuous planning.

Finance 105
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10 Critical Accounts Payable Strategies for All Businesses

Basis 365

The importance of efficient cash flow management cannot be overstated for small or rapidly growing businesses. One critical aspect is the management of accounts payable (AP). Effective accounts payable strategies not only streamline the payment process but also contribute significantly to better cash flow management. In this blog, we will delve into essential financial tactics that small businesses can adopt to optimize their accounts payable processes, with a focus on the solutions offered by B

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IRS Warns Taxpayers About Crypto ‘Pig Butchering’ Scams

CPA Practice

IRS Criminal Investigation special agents have seen an uptick in a specific type of scheme that couples cryptocurrency with romance, and they have a message for taxpayers: Don’t get butchered. The scam is known as “pig butchering”—flirtatious strangers use social media to lure unsuspecting romantic partners, who serve as the “pigs,” to invest in crypto trading platforms.

Account 101
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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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Merriam-Webster’s word of the year and your client service strategy

ThomsonReuters

Jump to: What does “authentic” mean? How can embracing authenticity guide your firm’s client service initiatives? Making authenticity a priority in your client service strategy Earlier this week, Merriam-Webster announced its word of the year for 2023. The winner? Authentic. An NPR article on the announcement raises a number of interesting points on why “authentic” became popular this year.

Tax 98
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Tax Fraud Blotter: Don't touch

Accounting Today

A dim bulb; morally bankrupt; 1st to jail; and other highlights of recent tax cases.

Tax 94
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How to Improve Efficiency Across the Finance Department

MineralTree

Maintaining finance department efficiency is a constant challenge, especially for teams that rely on legacy technology and manual processes. The good news is that technological advancements have made it possible for finance departments to increase productivity and to do more with less. As the need to drive efficiency grows, many teams are looking to technology to digitize and automate their workflows.

Finance 91
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Windes launches wealth management firm with Integrated Partners

Accounting Today

Windes, a Top 100 Firm, is teaming up with Integrated Partners, a financial planning and RIA firm, in a new wealth management venture.

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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.

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The PCAOB Is Stoked Congress Gave Them Permission to Pick On China Now

Going Concern

Oh look, the PCAOB snagged more big fish: $7.9 million in total fines against three China-based firms and four individuals in “historic settlements.” Whoop-de-doo. Imposing $7.9 million in fines, the PCAOB has sanctioned three China-based firms and four individuals in historic settlements. [link] pic.twitter.com/g5oGPQU2mq — PCAOB_News (@PCAOB_News) November 30, 2023 So here’s what the PCAOB is celebrating today: Two disciplinary orders imposing a total of $7 million in p

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Mastering ESG reporting in accounting and finance departments

Accounting Today

The pressure to establish an ESG reporting framework is mounting as various regulatory bodies issue guidance.

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U.S. Economy Saw 5.2% Growth in Third Quarter

CPA Practice

By Reade Pickert, Bloomberg News (via TNS). The U.S. economy grew at an even faster pace in the third quarter than originally estimated, reflecting upward revisions to business investment and government spending. Gross domestic product rose at an upwardly revised 5.2% annualized pace in the third quarter, the fastest in nearly two years. Consumer spending advanced at a less-robust 3.6% rate, according to the government’s second estimate of the figures issued Wednesday.

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SCOTUS casts doubt on SEC's use of in-house judges

Accounting Today

The case involves a former hedge fund manager whom the SEC accused of misleading investors.

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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.

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Average U.S. Home Prices Hit Record High

CPA Practice

By Alicia Clanton, Bloomberg News (via TNS). Home prices in the U.S. extended their climb, reaching a fresh record high. A national gauge of prices rose 0.7% in September from August, according to seasonally adjusted data from S&P CoreLogic Case-Shiller. It was the eighth straight month of gains for the index, which doesn’t provide a specific dollar figure for homes.

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Advisory: Change your mindset

Accounting Today

Building an advisory practice at an accounting firms requires accountants to think differently.

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Eide Bailly Teams Up with High Plains Technology

CPA Practice

High Plains Technology, a technology solutions company based in Sioux Falls, SD, will become part of top 20 accounting firm Eide Bailly on Jan. 8, 2024. The merger will bring four partners and 14 staff into Eide Bailly’s Sioux Falls and Fargo, ND, offices. Financial terms of the deal were not disclosed. Jeremy Hauk “High Plains Technology has an impressive track record of delivering high-quality service to clients for over 30 years,” Jeremy Hauk, CEO and managing partner of Fargo-based Eide Bail

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How Sage Cloud Hosting Can Help Different Industries Thrive

Ace Cloud Hosting

In the modern business landscape, cloud hosting is an invaluable asset. It provides businesses with access to the latest technology and can streamline processes that would otherwise be time-consuming and.

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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.

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The Power of Microsoft Dynamics 365 Sales and Business Central Integration for SMB Growth 

Withum

In today’s continually evolving business world, staying ahead of the competition requires efficient, integrated and scalable solutions. Microsoft Dynamics 365 CRM integrates with Microsoft Dynamics 365 Business Central (BC) to create a powerhouse combination that offers many benefits to small and midsize businesses (SMBs). Let’s delve into the reasons why this tech stack is a game-changer for these enterprises.

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The Benefits of embedding an ESG strategy into your manufacturing business

Menzies

Menzies LLP - A leading chartered accountancy firm. If you are in the manufacturing sector, there is no escaping ESG (Environmental, Social and Governance). Producing products sustainably is no longer an optional benefit, but a necessity to remain competitive in the market and mitigate future risk. Manufacturing is responsible for 10-15% of the UK’s GHG emissions (Greenhouse gases), which necessitates significant environmental responsibility for the sector.

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Berkshire says billionaire Haslam promised illicit payments to juice Pilot's profit

Accounting Today

The filing is the latest twist in an intensifying legal back-and-forth between the billionaires, including allegations over the accounting.

Legal 56
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Fred 82: Overview and Implementation

Menzies

Menzies LLP - A leading chartered accountancy firm. What date does FRED 82 come into effect? The FRC published its exposure draft FRED 82 in December 2022, proposing several changes to UK GAAP. The consultation feedback on the exposure draft has since led to a delay in the expected implementation date, with the revised version expected to come into effect for periods commencing on or after 1 January 2026.

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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.