Mon.Nov 20, 2023

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Navigating the AI Wave in Accounting | Part 2: The Cutting-Edge of AI in Accounting

Insightful Accountant

The digital transformation of the accounting world isn't just coming—it’s already here, and AI is leading the charge. In Part 2, we invite you, the tech-curious accountant, to roll up your sleeves and delve deeper into the AI toolkit.

Account 52
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IRS Outlines Withdrawal Process for Employee Retention Tax Credit (ERTC) Claims

RogerRossmeisl

As reported via IR-2023-193 on 10/19/2023 Special initiative aimed at helping businesses concerned about an ineligible claim amid aggressive marketing, scams As part of a larger effort to protect small businesses and organizations from scams, the Internal Revenue Service announced the details of a special withdrawal process to help those who filed an Employee Retention Tax Credit (ERTC) claim and are concerned about its accuracy.

Tax 262
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Trending Sources

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96% of Accountants Think Automation is Essential for Profession

CPA Practice

A new study on how accounting professionals feel about their profession, job satisfaction, and automation has found that, while they are overwhelmingly positive about the profession, there is a clear need for more automation. This is an opportunity for firms to provide better client and employee experiences and to gain a competitive advantage. These results were part of the study, “Automation: Putting Accountants on the Right Path,” which was commissioned by ShareFile , a business unit of Cloud

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Master Class in Automotive Modular Assembly

RogerRossmeisl

As posted to the AutoLine Network YouTube Channel on 9/11/2023 (Run Time 10 min, 13 sec) AutoLine’s John McElroy interviews Caresoft’s Han Ly at the International Motor/Mobility Show in Munich. Caresoft, a company that specializes in vehicle teardowns and benchmarking, provides insights into how Tesla designs its cars for modular assembly, notably how it eliminates fasteners and complexity.

CPA 130
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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

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.

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Why Small Business Owners Should Sign Up for the New IRS Business Tax Account 

CPA Practice

By Melissa Angell, Inc. (TNS) The new business tax account from the IRS , unveiled in late October, is expected to expand next year with a slate of new features that should make tax time a little smoother for entrepreneurs. The new features will allow companies to check their tax payment history, make payments, view notices, and enjoy the benefits that an individual tax account offers.

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New rules proposed on credits for renewable energy property

Accounting Today

The Treasury and the IRS issued laid out possible regs to update the investment tax credit rules to encompass various forms of renewable energy.

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More Trending

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Bonadio Group finds ways to attract more people to accounting firms

Accounting Today

The Top 50 Firm is improving its compensation and benefits to bring in more experienced professionals and young recruits.

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AvidXchange Releases Top Priorities and Trends for Finance Leaders in 2024

Insightful Accountant

AvidXchange report reveals top five initiatives finance professionals are considering when planning for the year ahead.

Finance 111
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Analysts Expect Thanksgiving Weekend Shopping to Surge

CPA Practice

An estimated 182 million people are planning to shop in-store and online from Thanksgiving Day through Cyber Monday this year, according to the annual survey by the National Retail Federation and Prosper Insights & Analytics. This figure is 15.7 million more people than last year and is the highest estimate since NRF began tracking this data in 2017.

Start-ups 111
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QuickBooks Inventory, Sales and E-commerce Enhancements

Insightful Accountant

QuickBooks is enhancing their inventory, sales and E-commerce capabilities by incorporate components from QuickBooks Commerce which they acquired from Trade Gecko.

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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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Retail Sales Up 2.5% Year-Over-Year

CPA Practice

Retail sales kept up a long streak of year-over-year gains in October even though the rate of growth continued to slow, according to a statement from National Retail Federation Chief Economist Jack Kleinhenz. His remarks were in response to the U.S. Census Bureau’s most recent release of monthly retail sales data. “Fourth-quarter consumer spending stepped off on a more moderate pace, as expected,” Kleinhenz said.

Retail 111
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Maximizing Client Success: A Memorable Journey at the QuickBooks Connect

Insightful Accountant

Susan Pruskin shares her wonderful experience at QB Connect. Join her as she revisits her first ever Human Tunnel welcome, and amazing Main Stage Speakers.

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Top Remote Accounting Freelancers of the Week: November 20, 2023

Going Concern

Looking to staff up for a season or hire a freelancer for a project? Accountingfly is ready to partner with you! Gain full access to a pool of highly skilled and experienced remote freelance accountants ready to join your team with with no up-front cost. We are sharing a sneak peek of a few top freelance accounting candidates available this week with Accountingfly.

Account 104
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Business Travel Expenses: What Companies Need to Know 

inDinero Tax Tips

Figuring out business travel expenses can be confusing. The IRS has many rules outlining deductibility, and without a well-thought-out system for tracking business expenses , maximizing deductions while remaining protected from an audit can be a challenge. This article is a part of our ultimate guide on business expenses and tax deductions. We’ll cover everything from the general rules and efficient record-keeping to incorporating tax-deductible personal days into your trip.

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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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Monday Morning Accounting News Brief: PwC Cheating Costs Juniors $21k; Watch That Busy Season Stress | 11.20.23

Going Concern

Good morning and happy pre-Thanksgiving Monday. It’s a short week so let’s just get this over with. Here’s an article from AccountancyAge on mental health in the profession : In the precise and structured realm of accounting, the topic of mental health is often an overlooked narrative. Behind the precision of financial statements and the clarity of audits, accountants confront a set of unique challenges.

Account 100
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Art of Accounting: 10th anniversary column, looking forward to next 10 years

Accounting Today

Public accounting is rapidly moving into the future, and anyone who doesn't realize this will fail to remain competitive or viable.

Account 83
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Millennials Will Be Spending Like It’s 2019 This Holiday Season Per the Deloitte Black Friday Report

Going Concern

Someone who’s good at both math and Googling should tally up how many reports Deloitte consultants crank out in a year, it’s got to be at least 1,000. Today it’s a timely one: Deloitte’s 2023 Black Friday-Cyber Monday Survey. Key takeaways from the survey of 4,318 consumers : Consumers plan to spend an average of $567 during the Black Friday-Cyber Monday (BFCM) shopping events (Thursday, Nov. 23 – Monday, Nov. 27), up 13% from last year.

Retail 64
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Weaver to merge in Buchbinder Tunick

Accounting Today

The Top 40 Firm based in Houston expanding its East Coast presence in New York, the Washington, D.C. area and New Jersey.

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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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New Jersey Society of CPAs Announces CPA Exam Lottery Winners

CPA Practice

The New Jersey Society of Certified Public Accountants has awarded 10 of its members $750 each towards their CPA Exam fee costs. The CPA Exam Fee Lottery winners, which are Affiliate or Student members of the NJCPA, were selected at random out of more than 50 entries. The annual lottery, which launched in 2019, was created to partially offset the cost of preparing for and taking the CPA Exam, which can exceed more than $2,500 considering enrollment fees, review courses, study guides and other pr

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Ted on Tech: Upgrading your office

Accounting Today

With the holidays coming fast upon us, it's time to start thinking about presents. Ted Needleman scoured the review pile to see what might be appropriate to update your office, or to gift to staff.

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CBIC Notifies Amnesty Scheme for filing of Appeal under GST till 31.01.2024 

VJM Global

Amnesty Scheme is a one time window that the government opens to complete compliance of earlier periods. Government keeps on announcing Amnesty scheme for various compliances so that those who have failed to carry such compliance by the specified due date may complete the same within new notified dates with less or no penalties. Similar to Amnesty Scheme of Filing of Annual returns , Filing application for revocation of cancelled GSTIN , CBIC has now announced an amnesty scheme for filing of App

Tax 59
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Is CRM worth it?

Accounting Today

Customer and client relationship management systems have come a long way, says Sarah Dobek of Inovautus Consulting.

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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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Business Travel Expenses: What Companies Need to Know 

inDinero Tax Tips

Figuring out business travel expenses can be confusing. The IRS has many rules outlining deductibility, and without a well-thought-out system for tracking business expenses , maximizing deductions while remaining protected from an audit can be a challenge. This article is a part of our ultimate guide on business expenses and tax deductions. We’ll cover everything from the general rules and efficient record-keeping to incorporating tax-deductible personal days into your trip.

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Compensation and beyond: New ways to recruit and retain

Accounting Today

The AICPA & CIMA's 2023 MAP Survey points the way to winning strategies in the war for talent.

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When Will 2024 Tax Refunds Come? 2024 Tax Season Questions.

CPA Practice

It’s almost December, which means the 2024 tax filing season is coming soon. The IRS usually starts accepting e-filed income tax returns in the last week of January each year, with the deadline to file returns being April 15 (which can vary based on weekends or state holidays). If you’re wondering how long it may take to get your refund when you do file, you’re not the only one looking for the answer.

Tax 52
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Overcoming legacy systems with data-driven solutions

Accounting Today

Accountants need to move from outdated platforms and embrace digital transformation.

Account 60
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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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Yes, Carbon Neutrality Can Drive Profitability

Cherry Bekaert

Saving the Planet and Increasing Corporate Profits Simultaneously “We’re Proudly Committing to Net Zero Carbon Emissions by 2035”, reads the headline. Such long-term, carbon-neutral goals have become fashionable announcements for companies and ownership groups. They increasingly seem to be downright mandatory for consumer brands, otherwise risking enouncement by a “climate cancel-culture.

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A Closer Look: Engagements & Proposals

Canopy Accounting

Come get a closer look into Canopy's Engagements & Proposals, the first ever natively built Engagements functionality in a practice management software, and how it can help your firm decrease admin manual labor, deliver 5-star client experiences, and collect payment faster.

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Weaver to Add New York CPA Firm Buchbinder Tunick

CPA Practice

Top 35 accounting firm Weaver will be merging in New York-based CPA firm Buchbinder Tunick & Co. on Jan. 1, 2024. This deal expands Weaver’s East Coast presence to five offices, including two in New York City, one on Long Island, one in New Jersey, and one in Washington, D.C. It also adds 125 audit, tax, and advisory professionals, including 16 partners, to the Houston-based firm.

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QuickBooks Connect 2023 Recap

SchoolofBookkeeping

Gather 'round, accounting aficionados! Intuit, the grand maestro behind QuickBooks, TurboTax, Credit Karma, and Mailchimp, has descended from the financial heavens to grace us with their 10th QuickBooks Connect extravaganza. It's a sold-out spectacle in Las Vegas, where over 2,500 bean counters and financial wizards are about to witness innovations that will undoubtedly change the way we pretend to enjoy crunching numbers for small businesses.

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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.