TaxConnex

FEBRUARY 13, 2024

To help financial leaders better understand what their peers are doing when it comes to sales and use tax in 2024, TaxConnex® conducted its fourth annual sales tax survey in November of 2023. More than 100 financial leaders from different industries and from a wide range of sizes responded. Their responses are included in the following blog. For the vast majority of organizations, managing the minutia of sales tax obligations can be described as clunky, cumbersome, and risky, with each state hav

Sales 206

Sales Tax audit CPA 206

RogerRossmeisl

FEBRUARY 13, 2024

If you’re an employer with a business where tipping is routine when providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Credit fundamentals The FICA credit applies to tips that your staff members receive from customers when they buy food and beverages.

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Tax CPA business tax 191

CPA Practice

FEBRUARY 13, 2024

By Bruce Gil, Quartz (TNS) Jeff Bezos, the world’s second richest person at the moment, could end up saving nearly $600 million because of his recent move to Miami, Florida—a state with no capital gains tax. Last week, Bezos announced in a U.S. Securities and Exchange Commission (SEC) filing that he plans to sell about 50 million shares of Amazon stock estimated to be worth $8.4 billion.

Florida 116

Florida Tax Washington Sales 116

RogerRossmeisl

FEBRUARY 13, 2024

In today’s uncertain markets, the value of a business may change significantly over time. So it’s important to choose the valuation date carefully. Often, the date is prescribed by law or a judge. But sometimes attorneys or others, such as the executor in an estate valuation, are allowed to decide between different dates. A fundamental decision The valuation date serves as a cutoff for the information that can be used to estimate value.

CPA 186

CPA Sales 186

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

Accounting Today

FEBRUARY 13, 2024

The Washington National Tax Office of Grant Thornton points out the most important state and local tax developments to keep an eye out for.

Washington 125

Washington Tax 125

RogerRossmeisl

FEBRUARY 13, 2024

Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea. Tax-free treatment for eligible stock gains QSBCs are the same as garden-variety C corporations for tax and legal purposes — except QSBC shareholders are potentially eligible to exclude from federal income tax 100% of their stock sale gains. That translates into a 0% federal income tax rate on QSBC stock sale profits!

Tax 184

Tax income tax Legal CPA 184

RogerRossmeisl

FEBRUARY 13, 2024

The so-called “kiddie tax” can cause some of a child’s unearned income to be taxed at the parent’s higher marginal federal income tax rates instead of at the usually much lower rates that a child would otherwise pay. For purposes of this federal income tax provision, a “child” can be up to 23 years old. So, the kiddie tax can potentially affect young adults as well as kids.

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Tax income tax CPA 180

Insightful Accountant

FEBRUARY 13, 2024

Based on the latest Intuit QuickBooks Small Business Index, employment for small businesses with one to nine employees decreased by 14,800 jobs in January, 2024.

quickbooks 105

quickbooks 105

Cherry Bekaert

FEBRUARY 13, 2024

Governmental Accounting Standards Board (GASB) Statement No. 100, Accounting Changes and Error Corrections, an amendment of GASB Statement No. 62, is in effect for fiscal years beginning after June 15, 2023. This accounting pronouncement is intended to streamline the reporting of accounting changes and error corrections, as well as the related disclosures in governmental financial reporting.

Account 95

Account accountant accounted accounting principles 95

Withum

FEBRUARY 13, 2024

Explore Other Episodes #CivicWarriors #WithumImpact The post Let’s Learn More About Epilepsy appeared first on Withum.

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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

FEBRUARY 13, 2024

While passage in the Senate is uncertain, many of the changes could impact 2023 tax returns.

Tax 125

Tax tax return Finance 125

Going Concern

FEBRUARY 13, 2024

In “Employee well-being outcomes from individual-level mental health interventions: Cross-sectional evidence from the United Kingdom” published in Industrial Relations Journal , wellbeing enthusiast and researcher Dr. William Fleming has found that wellness programs in the workplace don’t actually improve employee wellbeing. Which confirms what we’ve all known for a while now, these programs are a mostly performative gesture to make leadership feel better about themselves

Healthcare 85

Healthcare Start-ups 85

Accounting Today

FEBRUARY 13, 2024

The IRS wants to help businesses know when they don't qualify for an Employee Retention Credit.

Tax 120

Tax 120

Withum

FEBRUARY 13, 2024

Government contracting can be a lucrative venture for businesses, but it comes with a host of regulatory and financial responsibilities. One of the critical elements in managing government contracts is the Incurred Cost Proposal (ICP) submissions. In this article, we will delve into what Incurred Cost Proposals are, why they matter, and how businesses can navigate this complex process effectively.

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Government audit accounting standards cost accounting 80

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Going Concern

FEBRUARY 13, 2024

Across the pond, a batch of recent graduates who were no doubt thrilled to get picked up by PwC in 2022 are now discovering an important life lesson: When it comes down to it, partners don’t care about you. A recent FT piece says almost 100 baby consultants will not be getting the promotion they expected in July and will instead have to wait until January 2025.

Start-ups 62

Start-ups Tax Sales 62

Withum

FEBRUARY 13, 2024

Explore Other Episodes #CivicWarriors #WithumImpact The post Let’s Debunk Some Myths About Epilepsy appeared first on Withum.

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CPA Practice

FEBRUARY 13, 2024

By Irina Anghel, Bloomberg News (TNS) Job vacancies at U.K. consultancies plummeted by more than 80% last year amid weak economic growth, a lack of deals in the City of London and the prospect of a general election. McKinsey and Co., Bain & Co., Boston Consulting Group and Accenture posted just 248 consulting jobs in 2023, down from 1,389 the prior year and 1,764 in 2021, according to data from labor market analytics firm Vacancysoft.

audit 59

audit Management Consulting accounting firms Government 59

Canopy Accounting

FEBRUARY 13, 2024

Canopy has secured a coveted spot in G2's "Top 100 Fastest Growing Softwares of 2024". As the only practice management software to achieve this recognition, we take immense pride in this accomplishment. This accolade highlights Canopy's remarkable growth and impact in the technology sector, solidifying our position as a leader in driving efficiency and productivity for the accounting industry.

Technology 59

Technology Account accountant accounted 59

Advertiser: Paycor

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CPA Practice

FEBRUARY 13, 2024

The American Institute of CPAs has submitted comments to the Department of the Treasury and Internal Revenue Service in response to Notice 2023-80, which provides guidance on the foreign tax credit and dual consolidated losses in relation to the Global Anti-Base Erosion Model Rules, or Pillar Two. The notice addresses the foreign tax credit rules and the dual consolidated loss rules, to certain types of taxes described in the Organisation for Economic Co-operation and Development GloBE Model Rul

Tax 59

Tax cpas 59

Accounting Insight

FEBRUARY 13, 2024

Today, investment platform Lightyear announces the full launch of its web application with new stock screeners, a highly requested feature by investors on the platform. The screeners – a directory of instruments with metrics and data – is completely available to the public. Lightyear customers can now access a fully functional web app from signing up, to investing and managing their portfolios – meaning new users no longer need to download the mobile app to get started.

Education 59

Education Start-ups Account accountant 59

Accounting Today

FEBRUARY 13, 2024

The IRS is warning practitioners about a tactic that recurs every tax season.

Tax 95

Tax tax preparation 95

Insightful Accountant

FEBRUARY 13, 2024

Early discussions on estate tax planning and planned giving are crucial for clients considering asset transitions later in life. They can lead to significant savings for clients and beneficiaries compared to delaying until after death.

Tax 52

Tax tax planning 52

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.

Accounting Today

FEBRUARY 13, 2024

The engagement partner and engagement quality review partner on the audit of Mexican steelmaker owe a combined $165,000.

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audit 68

Insightful Accountant

FEBRUARY 13, 2024

There is one thing 'about time', it changes over time. and so too with our QB Talks monthly webinars. Please join our new host, Alicia Katz Pollock next Wednesday, February 21, 2024 as she presents the new 'QuickBooks Time' interface.

quickbooks 52

quickbooks 52

CPA Practice

FEBRUARY 13, 2024

By Irina Anghel, Bloomberg News (TNS) KPMG’s U.K. partners made an average of £746,000 ($945,000) last year, but it wasn’t enough for them to avoid being the worst paid of the Big Four accounting firms. The firm delivered a 4% rise to its 833 U.K. partners, similar to last year’s levels, KPMG said, but it means they remain bottom of the pay table of Big Four firms, as the top audit firms are known.

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audit Legal Tax accounting firms 52

ThomsonReuters

FEBRUARY 13, 2024

Jump to: How to prepare a tax invoice for 1040 clients 3 ways to stay organized with invoices during busy season Review your tax return delivery and invoicing process 1040 client expectations have changed Save time with all-in-one tax preparation invoices Digital solutions for 1040 tax prep How to prepare a tax invoice for 1040 clients Creating a comprehensive tax preparation invoice is the first step toward timely and accurate payments.

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tax preparation Tax tax return cpa firm 52

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

CPA Practice

FEBRUARY 13, 2024

Mazars reached global revenue of €2.8 billion ($2.998 billion) for its 2023 financial year, up from €2.45 billion ($2.63 billion) in 2022. 2023 was the third consecutive year that Mazars’ global network of firms has achieved double-digit growth across all services (both audit and non-audit). Hervé Hélias “It’s been another successful year with 13% growth demonstrating the strength and relevance of our unique integrated partnership model.

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audit auditor accounting firms Account 52

Withum

FEBRUARY 13, 2024

Download a PDF of this case study. Executive Summary Our automotive accessories client was looking to evaluate their existing distribution center (DC) structure, assess its cost and performance and explore alternative structures for enhancing capabilities. The project with the Firm’s Manufacturing, Distribution and Logistics (MD&L) group encompassed both retail and wholesale operations – seeking answers to questions about viability, cost advantages and associated risks with migrating to an a

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Manufacturing Transportation Retail 52

CPA Practice

FEBRUARY 13, 2024

Global accounting and tax services firm Grant Thornton LLP has deployed a new tool to help its internal audit, compliance and other risk management professionals streamline their clients’ control design and assessment processes. The tool, which the firm calls Grant Thornton CompliAI, utilizes generative artificial intelligence (AI), and was developed using Microsoft technology, including Microsoft Azure OpenAI Service.

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audit tax services Technology Tax 52

ThomsonReuters

FEBRUARY 13, 2024

Artificial Intelligence (AI) is not a new concept, but since the emergence of ChatGPT last year, the advantages versus the risks it could present as it becomes smarter and more prevalent have been widely debated everywhere. When it comes to global trade, there are powerful arguments as to why AI should be embraced, and understandable concerns around the ethics, accuracy, and security of data.

Technology 52

Technology Legal Government Tax 52

Advertiser: Paycor

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