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Thomson Reuters put out a quick guide on recruiting accounting talent in current year based on responses gleaned from their 2023 State of the Tax Professionals Report and you know what it’s not bad. It’s a refreshing break from the articles that imply ESG is more important to young people than being able to pay rent. Nope, this one has it all — competitive salary, the first date size-up, flexible working arrangements, transparency in interviewing.
There are many types of professional practices. Examples include medical, architecture, engineering, accounting, advertising, design and law. From a business valuation perspective, it’s important to recognize the common denominators these businesses share. Reliance on intangible assets Professional practices provide services rather than sell products (at least primarily).
Internal audits play a crucial role in the success and sustainability of a company. They are systematic and independent evaluations of a company’s internal controls, financial reporting, and operational processes. Conducting regular internal audits helps identify potential risks, improve operational efficiency, and ensure compliance with laws and regulations.
Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several years. But should you? It’s not as simple as it may seem. Qualified improvement property For qualifying assets placed in service in tax years beginning in 2023, the maximum allowable first-year Section 179 depreciation deduction is $1.16 million.
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.
Expanding operations into foreign countries can help U.S. businesses reduce labor and operating costs. It can also provide them with access to new markets and potentially higher profits. You may be attracted to a country by a plentiful labor supply, significant tax benefits or government incentives. But, beware: Some foreign business environments present serious fraud risks.
If you’re age 65 and older and have basic Medicare insurance, you may need to pay additional premiums to get the level of coverage you want. The premiums can be costly, especially for married couples with both spouses paying them. But there may be an advantage: You may qualify for a tax break for paying the premiums. Premiums count as medical expenses For purposes of claiming an itemized deduction for medical expenses on your tax return, you can combine premiums for Medicare health insurance wit
The IRS on Aug. 4 provided guidance to taxpayers on the requirements for home energy audits in order to claim the energy efficient home improvement tax credit. Created by last year’s Inflation Reduction Act, the nonrefundable energy efficient home improvement credit is available to taxpayers who purchase and install certain energy efficient improvements in their principal residences.
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.
By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) There’s another Mega Millions drawing Aug. 4 (that’s tonight!) and the advertised jackpot has climbed to $1.25 billion. That’s an estimated cash payout of about $625.3 million, which is the fourth-largest prize in Mega Millions history. However, the Mega Millions winner will have to pay considerable federal taxes.
The accounting industry is undergoing significant changes in today's fast-paced and technology-driven world. Integrating AI and technological advancements presents challenges and opportunities for accountants and accounting firms. Remaining competitive and thriving in this evolving landscape means embracing the new — new ideas, new practices, and new technology.
The Internal Revenue Service and the Treasury Department said Friday they will be issuing rules for prescription drug makers and importers about a new tax imposed by a provision in last year's Inflation Reduction Act to allow Medicare to negotiate on the prices of many medications.
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.
After record-breaking speed and price growth in 2021 and 2022, the housing market has largely settled and avoided a crash in prices, but challenges remain. Home values are growing in line with pre-pandemic norms, a path that Zillow forecasts will continue. Rent is also back to “perfectly average” growth after its own wild ride. Buyers are finding a costly and competitive market, but one slightly calmer and easier to plan and budget for.
One of the most enduring mysteries in cryptocurrency was resolved when Ilya Lichtenstein acknowledged that he executed the 2016 attack on the Bitfinex exchange.
A majority, 61%, of U.S. companies surveyed expect ESG backlash to continue or increase over the next two years, according to a report issued by The Conference Board. The report recommends that corporate boards and management view backlash as an opportunity to clarify their ESG strategy and communications. The Conference Board also found that most companies are staying the course when it comes to their ESG commitments.
If you have clients with businesses in multiple states, product or service sales in different states, or employees in other states, they need to know a thing or two about nexus.
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.
6 min read Savvy business leadership requires business owners and CEOs not only to know their numbers but to have up-to-date, reliable data supporting the numbers they know and the decisions they make.
By Martha Sanchez, The Sun Herald (TNS) James Chilimigras leaned toward the computer screen, nervous. “This is the last and most difficult of the four, day-long exams,” he told his family, who had gathered, and his tutor, Bryan Kesler. Kesler crossed his fingers. Chilimigras raised his eyebrows. “Well,” he said, and grinned. “I passed.” Meet a world record holder: He is 15.
Marketing covers everything you do in your business that creates awareness, including advertising, brochures, competitions, trade shows, demonstrations, travel, direct mail, email campaigns, your website, and sponsorship. Let's narrow our focus to an integral part of Marketing - Advertising. Advertising is a massive industry with multiple mediums for your message to be heard or lost in translation.
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.
Software as a Service (SaaS) companies have revolutionized the way businesses and consumers access software applications. These companies offer services through subscription-based models, providing numerous advantages such as flexibility, scalability, and cost-effectiveness. However, with the rise of SaaS, new accounting challenges have emerged, requiring careful navigation to ensure accurate financial reporting and compliance with accounting standards.
Poets&Quants reported yesterday that Deloitte is pushing back start dates for MBA new hires, for some they’ve been pushed back all the way to spring of next year. The details: Many of the MBAs hired by Deloitte, one of the world’s biggest accounting and financial advisory firms, have been informed that their onboarding with the company will be delayed until January or February 2024, or in some cases later in the spring.
Software as a Service (SaaS) companies have revolutionized the way businesses and consumers access software applications. These companies offer services through subscription-based models, providing numerous advantages such as flexibility, scalability, and cost-effectiveness. However, with the rise of SaaS, new accounting challenges have emerged, requiring careful navigation to ensure accurate financial reporting and compliance with accounting standards.
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.
Time, quality and budget are three crucial factors that project managers must keep in sight to ensure the successful completion of a project. Deliveries must be made quickly, quality standards should be exceed (or meet) and financial resources must be allocated appropriately. Let’s cover the significance of considering all three factors throughout the project lifecycle, and explore hands-on effective management strategies. 3 Factors for Project Success 1.
Determining allowable executive compensation is one of the most critical aspects of calculating a Federal Acquisition Regulation (FAR)-compliant overhead rate. The main objective is to demonstrate that claimed compensation costs are reasonable and allowable in compliance with FAR 31.205-6. Government contractors, including engineering consultants and other businesses, can do this either independently, by using nationally-published compensation surveys, or by using the National Compensation Matri
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.
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