CPA Practice

JULY 26, 2023

By Gail Cole If you’re old enough to have secured lodging without the help of the internet, you understand how online travel agencies have revolutionized the hospitality industry. Online travel agencies give consumers greater choice and more control over bookings, and they help businesses connect with customers to fill vacancies. But for the online travel agencies themselves, this service comes at a cost: a virtual world of tax obligations.

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Airbase

JULY 26, 2023

In our recent Path to Becoming a CFO session, former Drift CFO, Jim Kelliher, repeatedly touched on the delicate art of negotiation. Perhaps the most striking example was when host Jeff Epstein, Partner at Bessemer Ventures, asked what it was like to take LogMeIn public shortly after the banking crisis of 2008. After a long delay due to the tumult in the financial world, the company was one of only four technology IPOs in 2009.

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Withum

JULY 26, 2023

In what seems to be an unprecedented turn of events on July 21, 2023, the IRS released Notice 2023-55 , providing temporary relief for taxpayers in determining which foreign taxes are “creditable” taxes for U.S. purposes. In early 2022, the IRS issued final regulations providing guidance on determining if a foreign tax is creditable for U.S. tax purposes.

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Accounting Today

JULY 26, 2023

Lawyers and federal prosecutors came to an agreement during the hearing to limit the plea deal to apply to only tax crimes, drug offenses and a firearm violation between the years 2014 to 2019.

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

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

CPA Practice

JULY 26, 2023

Imagine this scenario: It’s another busy Monday, you’re calmly savoring your first cup of coffee, when suddenly, the near deadline that once seemed comfortably distant is now a blaring alarm. One day and counting. Does this sound all too familiar? You’re not alone in this; it’s simply part of being an accountant, but one habit we must move past. In the accounting profession, deadlines are as much part of our daily routine as our morning coffee.

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Accounting Today

JULY 26, 2023

The Internal Revenue Service will be adding extra procedures to deter scammers who have been inundating the agency with bogus claims for the Employee Retention Credit.

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Accounting Today

JULY 26, 2023

Companies have been doing more reporting on their corporate social responsibility efforts, but that's especially the case when there's a new chief executive in place.

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Insightful Accountant

JULY 26, 2023

New pricing for QBO, QuickBooks Online Payroll and QuickBooks Payments will start rolling on Aug. 1 for some US customers depending on your product(s) and current discounts in place.

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Accounting Today

JULY 26, 2023

The service is offering a program to speed up processing of requests for letter rulings from its associate chief counsel, mostly on behalf of corporations.

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Going Concern

JULY 26, 2023

We’re not sure how many more times it needs to be said and it’s shocking Public Company Accounting Oversight Board Chair Erica Y. Williams does not have severe audit firm-induced trichotillomania (to our knowledge) because here she is again warning auditors that the PCAOB is tired of them being so terrible at auditing. To get her point across she had to write a whole-ass op-ed in the Wall Street Journal : High-quality audits are essential to the integrity of U.S. capital markets and

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Advertiser: Paycor

There’s a new overtime salary threshold that will impact employers across the country. If you have an employee making less than $43,888 on July 1 or less than $58,656 on January 1, you’re going to have to start paying overtime. Download Paycor’s guide to learn: Which groups of employees are affected? How should you classify employees? Best ways to mitigate risk.

Accounting Today

JULY 26, 2023

In this week's Vendor Spotlight, we talk to Irana Wasti, chief product officer at payment and bookkeeping solutions provider Bill.

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Xero

JULY 26, 2023

Last night I had the enormous privilege of hosting our very first in-person Xero Singapore Awards ceremony to celebrate the outstanding achievements of our accounting and bookkeeping partners and crown our 2023 winners. It was a brilliant night, bringing everyone together in person again. I loved seeing the camaraderie and festivity in the room as our partners reconnected with one another and cheered each other on.

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Accounting Today

JULY 26, 2023

The Securities and Exchange Commission approved new rules that would require entities to disclose material cybersecurity incidents.

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SkagitCountyTaxServices

JULY 26, 2023

Did you see the Barbie movie or Oppenheimer this weekend? Or jump in with the 200,000 other Barbenheimers and see both? In case you didn’t, your social media feed likely filled you in on what you missed (or didn’t, depending on your view of these things). What a weekend for the movie industry as a whole that hasn’t seen these kind of opening weekend numbers since 2019’s one-of-many in the Avengers series.

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Advertisement

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Accounting Today

JULY 26, 2023

The speed, scale and scope of finance transformation requires dedicated full-time management.

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CPA Practice

JULY 26, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, discuss the recent Verizon data breach and what firms need to know and do to protect their firm and client data. Use the podcast player below to listen.

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Reckon

JULY 26, 2023

As we march through July, it’s likely you’re now in the thick of tidying away your previous financial year and going through the process of ATO compliance. But have you put much thought into starting your business’s new financial year with a clean slate? Many small business owners wade through the EOFY and just keep trotting along – business as usual.

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Withum

JULY 26, 2023

As part of the Inflation Reduction Act (“IRA”) passed in August of 2022, $391 billion of governmental funding was allocated to energy and climate initiatives. The ability to transfer (i.e. sell) clean energy credits was part of the new legislation and covered under IRC Section 6418. The intent of IRC Section 6418, was to increase participation in clean energy initiatives by allowing taxpayers to sell credits without engaging in complicated tax structures.

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Advertiser: Paycor

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.

Going Concern

JULY 26, 2023

Which Tax Practitioners Board Code of Conduct violation are you? It seems that’s the question PwC Australia is trying to answer in its new conflict of interest training, born out of the absolute shitstorm that began years ago when former partner Peter Collins leaked confidential information he’d received about upcoming Australian tax legislation in consultation with the Australian Tax Office to several other partners at the firm so PwC could turn this information into billable hours.

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Withum

JULY 26, 2023

The House of Representatives introduced three bills that the House Ways and Means Committee plans to mark up. The Build It In America Act (HR 3938) addresses business taxpayer concerns regarding rising interest expense rates and deduction limitations on research and experimental expenditures, which could lead to drastically increased cash federal income tax payments.

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Menzies

JULY 26, 2023

Menzies LLP - A leading chartered accountancy firm. If you use Xero for your bookkeeping and accounts, you may have noticed at the top of the report pages a note stating that “It’s time to change to the new version of this report”. On 31 st July the old version of some of the standard reports in Xero are being retired, replaced with the newer format.

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Ryan Lazanis

JULY 26, 2023

When fully immersed and entrenched in your business, gaining clarity on the most crucial areas of focus and determining the next steps can become quite challenging. In this episode, I talked about how you can keep your eyes on the goal despite being distracted regularly by social media, websites, and other mediums. Listen Below. 1:10 – The internet is relentless, as countless vendors, suppliers, and apps promising revolutionary solutions, are getting pushed to us all the time. 1:37 –

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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.

Menzies

JULY 26, 2023

Menzies LLP - A leading chartered accountancy firm. April 2024 will see tax changes affecting cryptoasset reporting to HMRC come into effect. The changes will specifically focus on creating a dedicated section within HRMC’s self-assessment tax return form for cryptoasset capital gains tax (CGT). It’s advised that crypto investors are prepared for these changes well in advanced of avoid being caught out by the proposed reporting obligations.

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Accounting Today

JULY 26, 2023

Apart from a raid by India's financial crime-fighting agency, the tutoring startup failed to file its financial accounts on time, and U.S. investors accuse it of hiding half a billion dollars.

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CPA Practice

JULY 26, 2023

Avalara, Inc. , a leading provider of cloud-based tax compliance automation for businesses of all sizes, today announced that the state of Missouri has leveraged Avalara Tax Research to power the state’s publicly available online sales and use tax rate map. With Avalara, Missouri provides access to current sales and use tax rates as well as special item taxes like food, domestic utilities, and more in the state.

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LSLCPAs

JULY 26, 2023

A new GASB pronouncement is on the horizon. The Governmental Accounting Standards Board (GASB) issued new GASB Statement No. 101 – Compensated Absences to replace the previous GASB Statement No. 16 – Accounting for Compensated Absences. Under the new statement, the recognition and measurement for compensated absences better addresses new types of leave and unifies.

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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

Technology

Shay CPA

JULY 26, 2023

An Overview of START-UP NY, QETC, and Life Sciences R&D Tax Credit Program New York has long been a global hub for finance, fashion, and food. But the Big Apple is also a budding hotspot for biotech, offering a robust range of programs designed to foster growth and innovation in this sector. For biotech companies looking to establish or grow their operations in the state, there are a few key programs worth considering: START-UP NY, the Qualified Emerging Technology Company (QETC) Program, an

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Menzies

JULY 26, 2023

Menzies LLP - A leading chartered accountancy firm. The draft Border Target Operating Model (TOM) proposes a new approach to security for all imports and sanitary and phytosanitary controls for imports of live animals, animal products, plants and plant products at the border. TOM will simplify and digitise processes, to be delivered through the UK’s new Single Trade Window (STW).

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Summit CPA

JULY 26, 2023

The Virtual CPA Success Show: Episode 88 Today’s guest, Ernesto Tagwerker, is the founder of OmbuLabs , a software boutique that helps enterprises build and scale products designed for growth. Together with hosts Jody and Joey, they discuss the concept of productizing a service and what that can mean for an agency’s growth and scalability.

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Accounting Today

JULY 26, 2023

At too many accounting firms, no one knows what their technology teams are accomplishing.

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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.