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Whether your company functions as a small operation, a single-state operator (SSO), multi-state operator (MSO) or provides ancillary services to the cannabis industry, Cherry Bekaert offers a diverse suite of accounting , tax and business advisory services to help you meet your growth objectives. From seed to sale, our trusted advisors, extensive resources and global reach uniquely position us to help your organization with initial structuring decisions; valuation, due diligence and growth capit
Hate to be the bearer of bad news but the glorious days of work anywhere and firms too scared to lose you to force you to return to the office may soon be behind us. Apparently KPMG is telling tax people they need to come in three days a week now and PwC announced a return to office not-mandate at the beginning of this month, and some smaller firms are leaning away from remote and toward hybrid environments that may as well be full blown RTO.
There’s now a little over two months to go before old reports in Xero are retired. Over the past year, we’ve been encouraging you to make the switch, with lots of education, support and advice from other small business owners and their advisors. If you’ve waited until now to start using new reports, you’ll have less time to make the switch. We urge you to start focusing on this, to avoid any disruption to your workflows.
The IRS on Tuesday released the 2024 inflation-adjusted amounts for health savings accounts, and the big takeaway is employees will be able put more money in their HSAs next year. Here is a quick breakdown of the new HSA and high-deductible health plan contribution limits for 2024, according to the IRS: Annual contribution limits: $4,150 for self-only coverage (up from $3,850 in 2023) and $8,300 for family coverage (up from $7,750 in 2023).
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.
Today we announced Xero’s full year financial and operating results to 31 March 2023 (FY23). Having started my journey as Xero’s CEO in February this year, I’m pleased to share our strong FY23 operating results, and I’m deeply excited about our opportunity to help power the global small business economy. Our results demonstrate Xero’s resilience in a complex macroeconomic environment, our valuable customer proposition, our increasing efficiency, and commitment to even more disciplined, customer
By Dawn Moser. American manufacturing has been a hot-button issue for decades. Many think of U.S.-based manufacturing as a relic of the mid-1900s. And while there had been some decline in the ’70s, ’80s, and ’90s, it was really during the first two decades of the millennium that saw a sharp decrease in the industry as a portion of U.S. jobs or a percentage of gross domestic product.
By Carl Hoemke. The property tax life cycle is a complex beast, and taming it can be both frustrating and time-consuming. Take business personal property renditions, also known as personal property returns. Did you know that businesses typically spend an average of 132 hours per week on various personal property tax compliance tasks ? What is a business personal property rendition?
7 min read Marketing strategies, tools, and trends change constantly, and none shift quite as quickly as trends in digital marketing. With technology continuously advancing, digital marketing is a swift-paced advertising channel. Key Takeaways User-Generated Content: The importance of user-generated content is on the rise, as well, with 90% of customers reporting relying on user-generated content for purchasing decisions… Phasing Out Third-Party Cookies: Websites use third-party cookies (bits of
In response to a study by Stanford University researchers that concluded Black Americans are up to five times more likely to have their federal tax returns audited than taxpayers of other races, new IRS Commissioner Daniel Werfel said initial results of an internal investigation confirmed the researchers’ findings, said he is “deeply concerned” by the apparent racial disparity in the selection of tax returns for audit, and pledged he will “stay laser-focused on this to ensure that we identify an
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.
Intuit QuickBooks and Mailchimp Celebrate Small Business Heroes Delivering Big Impact in Their Communities Three small businesses have each been awarded $20,000 as part of the second annual Intuit QuickBooks and Mailchimp Small Business Hero Day, a moment designed to celebrate the success of U.S. small businesses and recognize the incredible impact they have in our communities.
The U.S. Treasury released proposed regulations for Section 367(d) on May 2, 2023, providing guidance on the treatment of intangible property that was previously transferred to a foreign company and subsequently repatriated back to the United States – specifically, property that was subject to the rules of Section 367(d) upon expatriation. These proposed regulations would apply to subsequent transfers of previously outbound intangible property on the date when the regulations are finalized
By Joshua Tehee, The Fresno Bee (TNS) A former Fresno IRS employee who also worked as a private tax preparer was sentenced Thursday for 13 felonies related to identity theft and wire and tax fraud. Deena Vang Lee received four years and six months in prison and must pay a $191,597 fine, according to a release from the IRS. Lee was arrested in 2019 and convicted in January on three counts of wire fraud, two counts of aggravated identity theft, five counts of preparing and presenting false and
Recent inflation has created a strain on real estate construction projects, as commodity and building material prices have soared. An infusion of expenditures from the Infrastructure Investment and Jobs Act (“IIJA”) is designed to spur development of the infrastructure and transportation sectors, which may create demand-side competition between real estate construction and infrastructure and transportation sectors for commodities.
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.
When you think about things that make or break a startup, a lot probably comes to mind. From strategic thinking to runway, your burgeoning company needs a lot of things to go right in order to thrive. The good and bad news is that a lot of those factors interplay. If you miss one area, it can affect others, creating a cascade of problems. On the flip side, though, getting a holistic view of your company helps you see where it’s headed, supporting your ongoing success.
So, you have completed the First Steps to Streamline Your Processes and have documented and mapped out your current processes (your “current state”). Now you are ready to take the next steps: analyze your current state, design a future state and manage the change. 1. Analyze With your documentation in hand, analyze the existing processes and work through questions to identify all potential opportunities for improvement: Where is there duplicate work being done?
Yauhen Zaremba, Director of Demand Generation tell us, “Put simply, a higher ROI indicates you are productively managing your balance sheet and generating profit. A higher ROI also indicates that your business requires minimal investment for maximum profit. However, it’s important to keep in mind that it shouldn’t be the only metric you measure for profitability.
Clutter grows and doesn’t dissipate, no matter how hard we try. Financial clutter can cost money, waste opportunities and time, and lessen the feeling of monetary security. This Thursday, Ed Mendlowitz , CPA, will present a virtual program on Decluttering Your Financial Affairs. This is part of the continuing Take A Business Break series for the East Brunswick Public Library.
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.
Intuit has begun pushing out the May, 2023, R14 update to QuickBooks 2021 Desktop Products, including Enterprise 21.0. You may have already seen this update pending in QuickBooks 2021 software.
Introducing a new video series tailored to Real Estate professionals on trending topics in the Real Estate industry, tax subjects and more! Seeking relevant information in your Real Estate realm? Withum’s Michael Hurwitz answers and asks questions to other Withum experts throughout this series giving you the latest news and tips applicable to your business, with his 30 years’ experience in the Real Estate Tax arena.
By Augusta Saraiva – Bloomberg News (TNS). U.S. housing starts increased in April, adding to evidence that residential real estate is gradually recovering after a yearlong slump. Beginning home construction rose 2.2% to a 1.4 million annualized rate, according to government data released Wednesday. Single-family homebuilding increased 1.6% to the highest level this year, entirely due to a jump in the West.
As we complete our examination of the impacts of SAS 145 for tax and accounting professionals, we’ll build on our previous posts on risk assessment , documentation and analysis , and balancing scope and complexity in auditing. In this last post, we’ll look at risks that can arise from the use of IT in accounting and auditing. General IT controls Keeping in line with advancements in technology and the widespread use of automation tools and techniques, SAS 145 acknowledges the use o
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.
The IRS is planning to roll out its own free online tax-filing system in a move that could put the agency in direct competition with online tax preparation behemoths like Turbo Tax and H&R Block. In a report the agency submitted to Congress on Tuesday, as required by the Inflation Reduction Act, the IRS said it evaluated the feasibility of providing taxpayers with the option of a free, voluntary, IRS-run electronic filing system, which is being called “Direct File.
Benefits include increased productivity and improved recruiting. Here’s how to think through–and successfully implement–this new way to work. When running a business, sometimes you’ll hear a knee-jerk idea–you know, the kind that makes you say, “Impossible. No way we could ever do that.” That’s what a lot of people say when they hear about the movement to reduce the typical workweek from five eight-hour days to four, for a total of 32 working hours.
Professionals on the Move is a round-up of recent hiring and promotion announcements from around the profession. Schneider Downs Expands Strategic and Transaction Advisory Schneider Downs, one of the 60 largest certified public accounting and business advisory firms in the United States, recently added a team of five strategic and transaction advisory consultants to the firm’s Consulting and Business Advisory practice.
The majority of accountants (56%) spend too much time on manual tasks. That’s according to new data from cloud pre-accounting platform Dext , which surveyed 250 accountants and bookkeepers across the UK to determine the extent of technology adoption across the sector. The survey revealed that on average 26-50 percent of tasks are currently automated.
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.
FORVIS, a leading accounting and advisory firm, continues to grow its international presence with an expansion into Canada. The FORVIS Global Advisory Canada ULC office has opened in Toronto and is focused on providing advisory services to clients in the financial services industry. As a wholly owned subsidiary of FORVIS, LLP, FORVIS Global Advisory Canada is positioned to serve the needs of several core financial services clients in Canada, including some of the country’s largest banks.
High school students in the state of New York have the chance to participate in the Career Opportunities in the Accounting Profession program this summer, the deadline to apply is Friday, June 23, 2023 at 11:59pm which you can do at this link. Let’s skip the unnecessary commentary and get straight to the details. From New York State Society of CPAs: COAP helps you explore what you can do in the accounting field.
By Kristin Alexander. When it comes to managing excise tax compliance, many energy and fuel businesses are burning the midnight oil to keep up. The industry faces continual pressure from mounting environmental and health standards. Complex tax laws that vary across products and jurisdictions add fuel to the fire. Factor in that 63% of energy businesses and 48% of fuel companies included in a recent Aberdeen Strategy & Research study were hit with penalties or interest from audits in the
In late March, the Biden administration published a report in which the federal government acknowledged the interconnectivity between climate change and the economy, confronting the vast implications this relationship will have on both our planet and economic systems. Just like the private sector, the federal government is realizing that it is going to have to make some changes in the way it is structured to successfully adapt to climate change.
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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