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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
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.
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
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.
The office of the CFO is rapidly evolving, with more and more demands being placed upon the finance and accounting team each year. Join us in this webinar, where we share 8 things to NOT do when it comes to helping the CFO office advance in supporting the business. Learning Objectives: This course objective is to understand how best to support an organization's finance leadership.
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
7 min read No matter the size of your company, tax planning can be a major headache because the process can be complex and stressful. Plus, if tax planning isn't done properly, it can end up costing your business dearly with you either paying taxes that could have been avoided or incurring tax penalties as a result of noncompliant financial reporting.
7 min read No matter the size of your company, tax planning can be a major headache because the process can be complex and stressful. Plus, if tax planning isn't done properly, it can end up costing your business dearly with you either paying taxes that could have been avoided or incurring tax penalties as a result of noncompliant financial reporting.
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.
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.
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.
Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant
Construction payment workflows are notoriously complex when you consider juggling multiple stakeholders, compliance requirements, and evolving project scopes. Delays in approvals or misaligned data between budgets, lien waivers, and pay applications can grind progress to a halt. The good news? It doesn't have to be this way! Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies.
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.
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.
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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.
You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.
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.
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.
The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.
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
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.
Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.
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.
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
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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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.
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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