Mon.Dec 11, 2023

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The Future Is Now: How to Modernize Your Firm Today

Canopy Accounting

Wanting to modernize your firm but unsure of where to start? Unsure of what "modernize" even means? In this webinar hear from Terrell Turner, CPA and co-founder of TLTurner Group, and Andrew Berg, CPA, managing partner of Berg Advisors, on the process they went through to build firms that take advantage of modern workforce practices, tech, and more.

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R&D Tax Credit and Section 174 Update for Startups

BurklandAssociates

The IRS recently provided new interim guidance around expense categories, contract research, and foreign R&D activities. The post R&D Tax Credit and Section 174 Update for Startups appeared first on Burkland.

Tax 159
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IRS plans foreign tax credit rules

Accounting Today

The Treasury Department and the Internal Revenue Service expect to issue proposed regulations to address the application of the foreign tax credit and related rules and the dual consolidated loss rules to certain types of taxes described in the GloBE Model Rules.

Tax 130
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Your Firm and Your AI Future

CPA Practice

A Top Technology Initiative Article – Dec. 2023. Artificial intelligence (AI) has rapidly transitioned from science fiction to everyday reality, transforming industries and disrupting long-held paradigms. AI’s influence is pervasive and ever-growing, from self-driving cars to personalized healthcare. As we enter 2024, it’s natural to wonder what the future holds for this transformative emerging technology, especially for accountants.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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IFAC to revise education standards for sustainability

Accounting Today

The International Federation of Accountants' planned revisions will include some new and revised learning outcomes to meet the demands for sustainability reporting and assurance.

Education 113
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IRS Updates FSA Amounts for 2024

CPA Practice

By Leada Gore, al.com (TNS) The maximum contribution amount for employees participating in a flexible spending account will increase in 2024, according to the IRS. Starting in 2024, employees can contribute up to $3,200 tax-free to an FSA through payroll deduction, an increase of $150 from this year. The account can be used to pay for medical expenses not covered by other health plans—including copays, deductibles and a variety of medical products, as well as eye and dental care—and contributio

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On Event of 250th Anniversary of Boston Tea Party, U.S. Tea Merchants and Small Businesses Find Taxes too Complex

CPA Practice

Tea merchants and small to medium businesses in the U.S. continue to struggle to navigate with tax complexity and tax rate changes on the eve of the 250th anniversary of the Boston Tea Party. In fact, eight in 10 tea merchants (82%) feel anxiety related to staying on top of their tax obligations. In the U.S., there are more than 900 sales tax rules on tea products.

Tax 115
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On-Demand Webinar: 2023 Year-End Tax Planning for Law Firms and Attorneys

Withum

Join Withum’s Law Firm Services team for an overview of the most important tax issues to address going into 2024. View On-Demand Webinar With ongoing changes to the tax landscape, tax proposals in the face of an impending election, changes to bonus depreciation and more, there is much for law firms and attorneys to keep in the forefront this year-end.

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Business Executives’ Mixed View on Economy Reflects Continued Uncertainty, AICPA & CIMA Survey Finds

CPA Practice

Business executives don’t have a strong sense of where the economy is headed, and their mixed-bag outlook reflects that, according to the fourth-quarter AICPA & CIMA Economic Outlook Survey. The survey polls chief executive officers, chief financial officers, controllers and other certified public accountants in U.S. companies who hold executive and senior management accounting roles.

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2024 ProAdvisor Awards Process is Underway

Insightful Accountant

Whether you're from Oklahoma or Ontario, from Alabama or Australia, from Nevada to Nigeria, from Colorado to Costa Rica, every ProAdvisor should nominate a qualified deserving ProAdvisor or nominate themselves for the 2024 Awards process.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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‘It’s BS’: IRS Will Tax Minnesotans’ ‘Walz Check’ Rebate

CPA Practice

By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) According to Minnesota Gov. Tim Walz, the IRS will tax state rebates sent to many Minnesota residents in 2023. These rebates, commonly known as “Walz checks,” were worth up to $1,300 in some cases and were a result of a $3 billion Minnesota tax relief bill passed earlier this year. (That bill also included a child tax credit for the state worth up to $1,750 per child dependent.

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20 big companies that are getting great tax advice

Accounting Today

The five S&P 100 companies with the lowest overall tax rates paid an average of -18.87% in 2022.

Tax 114
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IRS Wipes Out 20,000 Employee Retention Credit Claims

CPA Practice

Nearly three months after pressing pause on the employee retention credit program until the end of this year due to a wave of fraudulent claims, the IRS said on Dec. 6 it has rejected more than 20,000 suspicious submissions for the pandemic tax credit meant to help small businesses. The agency said it is sending this initial round of letters disallowing ERC claims to “entities that did not exist or did not have paid employees during the period of eligibility to prevent improper ERC payments from

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The Role of a Financial Controller in Mid-Market: Key Strategies for Success

GrowthForceBlog

6 min read As a business grows, transforming from a small business to a mid-market company, its bookkeeping, accounting, and financial management needs expand, too. What was once an easily manageable back office can quickly balloon into way more invoices, transactions, vendors, employees, expenses, reports, rules, and regulations than can't be effectively managed without the help, oversight, effective systems, and know-how of an experienced financial controller.

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Planning Your Restaurant's Path to Profitability

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.

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Poor pay and career opportunities, lack of respect prompt finance employees to quit

Accounting Today

What are the main factors driving finance employees to leave their jobs?

Finance 115
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Where Have All The Accountants Gone?

CPA Practice

Picture this: You’re at the end of another year, mulling over an all-too-familiar quandary that’s been haunting the accounting industry for two decades. Why is there a chronic shortage of accountants? Could it be that they’ve all but disappeared, swallowed by a metaphorical ‘Nothing’ akin to the Never Ending Story’s void? This exploration aims not just to highlight this trend but to delve deeper into its roots and propose a rejuvenated approach for the accounting profession.

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Art of Accounting: Problems after selling your practice

Accounting Today

Sellers cannot protect themselves from a buyer's bankruptcy or if the buyer just stops making payments.

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NJCPA Delivers More Than 2,300 pounds of Food and Supplies to Community FoodBank of New Jersey

CPA Practice

The New Jersey Society of Certified Public Accountants delivered 2,369 pounds of nonperishable items and canned goods for its fourteenth annual food drive in November to benefit the Community FoodBank of New Jersey. NJCPA volunteers also assisted with packing more than 2,300 bags of pasta at the FoodBank. The Community FoodBank of New Jersey has been delivering food and food supplies to needy families in 15 counties in the state for nearly 50 years.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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Ex-Monte Paschi CEO Viola cleared in false accounting trial

Accounting Today

Three years ago, Viola and Profumo were convicted of improperly booking the Santorini and Alexandria transactions as repurchase agreements instead of derivatives.

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As Businesses Turn Focus to Efficiency vs. Growth, Finance Teams Must Find Ways to Do More with Less

CPA Practice

By Brian Greehan. Amid ongoing economic uncertainty, businesses are still contending with fallout from the pandemic, impacting everything from supply chains and the labor force to the workplace itself. Add in the ongoing war in Ukraine, inflation, and rising interest rates and finance leaders find their departments squarely in the spotlight. In response, finance teams are keeping a close eye on their balance sheets, taking fewer risks, and focusing more on efficiency and value over growth.

Finance 59
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Menzies Corporate Finance Team named as finalists at the Insider South East Dealmakers Awards 2024

Menzies

Menzies LLP - A leading chartered accountancy firm. Our Corporate Finance team are delighted to be named as finalists at the Insider South East Dealmakers Awards 2024 for: Corporate Finance Advisory Team of the Year Commenting on the shortlisting, Mike Grayer , Head of Menzies Corporate Finance team, said: “We are absolutely delighted to be nominated for Corporate Finance Advisory Team of the year at these prestigious awards.

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AICPA & CIMA Registers First 100 Apprentices and Signs 17 Employers to Apprenticeship Program in First Year

CPA Practice

The AICPA & CIMA has registered over 100 apprentices in its Registered Apprenticeship for Finance Business Partners program within the inaugural year of the program. These apprentices represent 17 employers across 15 industries. Most recently, CareFirst and Stanley Black & Decker (NYSE: SWK) have signed and joined a roster of employers that include AON (NYSE: AON), HP (NYSE: HPQ), Liberty Bank, Hypertherm Associates, and Messer Americas.

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Recruit and Retain New Blue-Collar Talent

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.

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GST on reimbursement of Electricity Charges| Clarification and Issues around

VJM Global

Like the Pre- GST regime, Reimbursement of expenses has always been grossly excluded from the purview of GST law subject to fulfillment of conditions given. Reimbursement is not charged to GST if the supplier is acting as a pure agent, i.e., expenses are incurred by the supplier on behalf of the recipient and reimbursement is claimed by the supplier of the same amount.

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CPAmerica Unveils New Brand Strategy and Website

CPA Practice

CPAmerica unveiled a new brand identity, value proposition and website to their members and supporters at their Leading Partners Retreat in San Diego, Calif. CPAmerica has been providing resources, training and support to independent accounting and advisory firms for the last 45 years. CPAmerica’s new brand strategy is rooted in the advantages of sharing and is captured in the brand promise, “Where collaboration means business.

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On-Demand Webinar: Sage Intacct Release 4 Recap: Exploring the Latest Features and Enhancements

Withum

Join us for an exclusive and informative on-demand webinar as we delve into the exciting new updates and features of Sage Intacct’s final Release 4 for 2023! View On-Demand Webinar Learn about the latest innovations and hear about practical insights and real-world use cases to maximize the benefits of Intacct. We will share how these enhancements will help streamline your financial management processes, boost productivity, and empower your team with powerful tools for smarter decision-maki

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A&A Update for Technology & Life Sciences

Cherry Bekaert

Navigating Accounting & Auditing Trends and Future Standards: How Will New Standards Affect Your Business in 2024? Elevate your expertise by watching our webinar focused on accounting trends and upcoming audit standard updates for companies in the technology and life sciences industries. The second in a three-part series, this webinar provides an overview of the ASC 326 Financial Instruments – Credit Losses (CECL) accounting standard, including areas on which companies should focus du

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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On-Demand Webinar: Cost Segregation Studies – Discover the Key to Maximizing Your Tax Savings

Withum

Withum understands the importance of strategic financial planning and are constantly seeking ways to provide our clients with valuable insights and opportunities for financial growth. Why Watch? Cost segregation is a tax strategy that can help commercial property owners and real estate investors significantly reduce their tax liabilities. By reclassifying assets and accelerating depreciation, you can unlock hidden tax benefits and boost your cash flow.

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Investing in Warehouses of the Future – Important Considerations

Menzies

Menzies LLP - A leading chartered accountancy firm. The Logistics industry is experiencing a significant makeover with the advent of ‘Warehouses of the Future,’ incorporating cutting-edge technologies such as robotics, AI, and sustainability measures to enhance operational efficiency. However, transformation comes at a significant cost and feasibility will need to be investigated with consideration of both available tax reliefs and timing of investments.

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On-Demand Webinar: From Creation to Compliance: Mastering Contracts Management with AI and Microsoft 365

Withum

Leverage your investment in Microsoft 365, including SharePoint, to intelligently automate your contract management process. This on-demand webinar discusses the importance of managing contracts efficiently, which is vital for success in today’s fast-paced business landscape. Watch and learn from this on-demand webinar and explore how cutting-edge AI technology and Microsoft 365 can revolutionize your contract management processes.

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From the Top-Down: Reframing Leadership with Purpose and Connection

CPA Practice

For CPAs leading their firms and finance teams, the journey towards leadership excellence is often charted by tangible successes—budgets balanced, audits completed, and practices grown. Yet, while such milestones are crucial, they don’t fully capture the essence of leadership. There’s a deeper quest for a connection that inspires, motivates, and resonates personally with both the leader and their team.

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"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.