CPA Practice
MAY 10, 2023
By Jelani Gibson, nj.com – (via TNS). New Jersey Governor Phil Murphy has signed a bill into law that makes it possible for New Jersey cannabis businesses to deduct some expenses on state tax returns by decoupling them from federal rules. Since cannabis is federally prohibited, cannabis businesses were not allowed to deduct expenses like normal businesses would (Section 280E of the IRS Tax Code).
Insightful Accountant
MAY 10, 2023
Zamp's team includes former state auditors, sales tax experts, research specialists and first employees of Stripe-acquired TaxJar & Vista-acquired Avalara.
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CPA Practice
MAY 10, 2023
The head of the Public Company Accounting Oversight Board (PCAOB) said today that its inspectors found significant deficiencies in the audits of U.S.-listed Chinese companies conducted by KPMG’s affiliate in mainland China and PwC’s member firm in Hong Kong. These were the PCAOB’s very first inspections of Chinese-based audit firms— the audit regulator secured complete access to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong last year, en
Cherry Bekaert
MAY 10, 2023
Driving Digital Opportunities and Improved Performance for the Marine Industry In recent years, the marine industry has seen a rapid increase in the use of cutting-edge digital automation to positively impact operations, navigation and engine systems. Technological advancements offer the industry the potential to achieve safer, more efficient operations and performance.
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CPA Practice
MAY 10, 2023
By Reade Pickert, Bloomberg News – (via TNS). U.S. hiring and workers’ pay gains accelerated in April, showing signs of labor-market resilience and fresh inflationary pressures in the face of economic headwinds. Nonfarm payrolls increased 253,000 after a downwardly revised 165,000 advance in March, a Bureau of Labor Statistics report showed Friday. The unemployment rate fell back to a multi-decade low of 3.4%.
Going Concern
MAY 10, 2023
For those of you short on time and/or attention span, here’s Public Company Accounting Oversight Board Erica Y. Williams on Bloomberg today discussing the long-awaited inspection results for two firms inspected in 2022: KPMG Huazhen LLP in mainland China [ PDF ] and PricewaterhouseCoopers in Hong Kong [ PDF ]. PCAOB inspectors found Part I.A deficiencies in 100% (4/4) of the audit engagements reviewed at KPMG Huazhen and 75% (3/4) of the audit engagements reviewed for PwC Hong Kong.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
inDinero Accounting
MAY 10, 2023
SAFE notes sound like an easy win. You issue a SAFE note to an investor and get financial support right when you need it. There is minimal back-and-forth negotiation and no debt obligations or loss of equity in the present. Sure, there are some strings attached. In exchange for their financing, the investor will own a certain percentage of your company at an unspecified future date.
Cherry Bekaert
MAY 10, 2023
When the Inflation Reduction Act (IRA) was signed, it greatly increased the benefits of the Section 179D Energy Efficient Commercial Buildings Deduction (Section 179D) for A&E firms. A large part of the process when claiming the Section 179D deduction relies on keeping strict documentation. Form 7205 is a form in the claiming process that qualified businesses and individuals use to calculate the deduction, mark yourself as the designer or building owner, and provide information on the person
CTP
MAY 10, 2023
When it comes to vehicle tax deductions, tax planners face a number of challenges—from keeping up with recent changes to the tax rules to educating your clients on the widespread misinformation about who is actually eligible for which deductions. Saving on taxes by using a car for business sounds convenient and appealing, but claiming the maximum possible deduction requires advance planning.
CPA Practice
MAY 10, 2023
More Flexibility for Section 529 Plans A Section 529 plan is a popular way to save for a child’s higher education. Typically, these state-operated vehicles offer high contribution limits, a variety of investment options and, to top things off, generous tax breaks. Now new legislation, called the SECURE 2.0 Act, provides even more flexibility for account owners.
Speaker: James Kahler, COO of Full Course
Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.
Insightful Accountant
MAY 10, 2023
Now you can add, store and manage your employee documents and HR records right inside of QuickBooks Online Payroll. Murph explains.
KROST
MAY 10, 2023
Sage Intacct is a cloud-based financial management and accounting software that helps businesses automate and streamline their financial processes. Our Intacct client onboarding process is seamless and requires little to no processing time on our client’s end. We have a team of certified Intacct users, including our Accounting Principal, Stacey Korman, who serve a range Read the full article.
Insightful Accountant
MAY 10, 2023
Deal adds cloud native preconstruction and project management solutions to Construction and Real-Estate (CRE) Portfolio.
CPA Practice
MAY 10, 2023
By Max Abelson, Sridhar Natarajan – Bloomberg News (via TNS). Goldman Sachs Group Inc. has agreed to pay $215 million to put an end to a long-running class-action lawsuit that accused the Wall Street giant of systemically underpaying women. The New York-based bank struck the deal with lawyers representing about 2,800 female associates and vice-presidents, according to a joint statement from the bank and the plaintiffs’ lawyers.
Speaker: Jamie Eagan
As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of
Going Concern
MAY 10, 2023
ICYMI, PwC Australia’s (former) CEO Tom Seymour stepped down on Monday which normally would inspire a hearty “who cares” from our primarily US-based audience but the issue surrounding his departure is prompting an attack on the entire professional services industry. Well, for now the attack is mostly laser-focused on PwC but the firm’s well-publicized tax scandal is calling into question the reliability of consultants doing work for the government.
CPA Practice
MAY 10, 2023
Patriot Software, an accounting and payroll software company, is now an approved provider of continuing professional education (CPE) credits for accountants. Accountants can earn CPE credits for live attendance of Patriot Software webinars, which are free to attend. Patriot Software is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of CPE on the National Registry of CPE Sponsors.
Dent Moses
MAY 10, 2023
Our last “Where’s My ERC Refund” update was published almost a year ago in June 2022. Since then, many outstanding ERC refunds have been processed and paid by the IRS with interest, while businesses continue to file additional ERC refund claims. Many of our clients have received a refund for some quarters, but not others, even when they were all filed at the same time.
Patriot Software
MAY 10, 2023
Canton, OH Patriot Software, an accounting and payroll software company, is now an approved provider of continuing professional education (CPE) credits for accountants. Accountants can earn CPE credits for live attendance of Patriot Software webinars, which are free to attend.
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CPA Practice
MAY 10, 2023
The International Federation of Accountants (IFAC) is seeking a new CEO to succeed Kevin Dancey who announced in March that he would step down from the role at the end of this year. Kevin Dancey The new CEO would join IFAC in late 2023 to facilitate an orderly transition from Dancey who has served as IFAC’s chief executive since 2018. The global accounting organization has members and associates in more than 130 jurisdictions.
CTP
MAY 10, 2023
The Internet abounds with incorrect interpretations of the rules around vehicle tax deductions. Saving on taxes by using your car for business sounds convenient and appealing, but understanding the actual guidelines is key for this strategy to be effective. What steps do you need to take to gain tax savings for your business vehicle? The two main ways to claim a benefit are through Section 179 or bonus depreciation: Section 179: This part of the tax code allows business owners to immediately ded
ThomsonReuters
MAY 10, 2023
The AICPA’s Auditing Standards Board has issued SAS 145 to provide additional guidance on a number of audit-related topics. The first blog in this series focused on the new guidance around risk assessment under SAS 145 , and the second on improved documentation and skeptical analysis. In this third blog, we’ll examine balancing the scope of an audit with the complexity of an entity’s activities.
inDinero Tax Tips
MAY 10, 2023
Tracking expenses and claiming all of the small business tax deductions you’re eligible for can add up to substantial savings, especially for start-ups that reinvest aggressively as they scale. But many entrepreneurs simply don’t know what deductions are available. This guide covers the basics of tax deductions for small businesses and startups, the deductions available, eligibility requirements by the IRS, and filing requirements.
Advertiser: Paycor
Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.
Withum
MAY 10, 2023
Learn how to leverage the latest technology to support and empower your frontline workers. The new era of hybrid work has brought to light the critical role of frontline workers and the communications and tools required for their key roles. Microsoft 365 (M365), the employee experience platform and the Power Platform have emerged as valuable tools for empowering frontline workers with the ability to surface solutions tailored to their unique needs.
Summit CPA
MAY 10, 2023
The Virtual CPA Success Show: Episode 80 With more than 25 years of experience in the HR field, John Baldino, President of Humareso, is well versed in the people problems and workforce trends that business owners face. John sat down with Adam and Tom to discuss organizational and leadership development, coaching and training, industry trends, and how business owners can lead their teams during these unprecedented times.
FraudFiles
MAY 10, 2023
Fans of multi-level marketing (MLM) often say that it is just like corporate America! There are levels of employees and managers… Corporate America is a pyramid and MLm is no different. That’s a faulty analysis.
Insightful Accountant
MAY 10, 2023
Find out the details on how centralized functions in the cloud can reduce IT infrastructure costs. Sign up today.
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Mark Lee
MAY 10, 2023
This personal list simply reflects my experience and views. None of these qualities are about efficiency vs inefficiency, nor about old-style vs new-style and it’s certainly not about qualified vs unqualified. You may think some of the qualities listed below are obvious – but you may also be surprised how easy it is to fall into the related traps. Or you may disagree of course.
Insightful Accountant
MAY 10, 2023
The US Congress designated May as Military Appreciation In 1999 and the USO needs your support to say "Thanks".
Accounting for Good
MAY 10, 2023
The post How to have an easy audit season in 2023 first appeared on ACCOUNTING FOR GOOD.
Cherry Bekaert
MAY 10, 2023
Alabama and Mississippi are two of the latest states to create new state tax credits and extend existing state tax credits. These state tax credits were implemented to reward taxpayers who invest and contribute funds toward economic development initiatives in these states. Alabama Extends and Expands Incentives Programs, and Enacts Tax Credit Opportunities The Alabama Jobs Act (AJA) provides a 1.5% investment tax credit and a 3% wage rebate for up to 10 years for qualifying businesses expanding
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"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.
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