Mon.Mar 25, 2024

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Art of Accounting: Taking your practice to next level

Accounting Today

Growing a firm is difficult, but not growing it could be more difficult.

Account 122
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How Law Firms Can Get Started with Cash Flow Management

Anders CPA

Cash flow management is a lot like a road trip: If you want to know the answer to, ‘Are we there yet?’ you need to start with a destination in mind. In cash flow management , we call that a target, and it generally needs to be somewhere between 10-30% of annual revenue, depending on the size and type of your law practice and the length of your cash cycle.

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IRS encounters Form 1065 processing glitches

Accounting Today

The Internal Revenue Service has posted new information about how to handle possible processing errors when electronically filing Form 1065, "Return of Partnership Income," and ways to avoid them.

Tax 126
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Only One More Week to Vote for 2024 Domestic ProAdvisor Awards

Insightful Accountant

While voting remains open for the 2024 Domestic (US & its Territories) ProAdvisor Awards, you only have one more week to cast your votes, the ballot box will close April 2, 2024.

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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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$1B in 2020 tax refunds remains unclaimed

Accounting Today

Time is running out for nearly 940,000 individuals to claim refunds from 2020, with a May 17 deadline approaching for filing the necessary tax returns.

Tax 117
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Calculating Your ROI Per Employee

Insightful Accountant

The changing landscape in the tax industry means firms are facing changes at a faster pace than ever. In addition to rapid technology changes, staffing challenges are prevalent and clients are demanding more value-added services than ever.

Tax 103

More Trending

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Navigating the American Rescue Plan Act: Understanding the Obligation Interim Final Rule

Cherry Bekaert

The American Rescue Plan Act (ARPA) was enabled on March 11, 2021. Shortly after the act was signed into law, the State and Local Fiscal Recovery Fund (SLFRF) program was created to provide state and local governments with the rules and regulations related to the funding. In November 2023, the U.S. Treasury released the Obligation Interim Final Rule (IFR) to aid state and local governments in compliance with the ARPA obligations requirements.

Legal 94
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Monday Morning Accounting News Brief: Consulting Really Sucks Right Now; Inside a PwC Leadership Race | 3.25.24

Going Concern

Hey. Hope everyone is well and ready to tackle another week. I’m in gardening mode so I’ll be unusually happy for at least the short-term until my petunias start dying off or something. Now’s the time to ask me for favors. I might even answer some of the millions of idiotic press releases I get in my inbox. ICYMI: Last weekend’s discussion item: Does leadership even know what gen AI is?

Account 77
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How to Onboard Clients the Right Way

CPA Practice

By John Graziano, CPA, PFS, CFP®. Landing a new client is exciting for any firm, but before solidifying your working relationship, it’s important to go through the onboarding process. Onboarding is a simple and effective way to ensure everyone understands how the relationship will work and what will be expected of each party. Taking the time to plan and optimize your onboarding will improve efficiency and client satisfaction.

CPA 66
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The changing of the guard

Accounting Today

Bob Lewis and Doug Lewis of the Visionary Group dive into how best to navigate the generational shifts in approach to a host of issues in accounting.

Account 70
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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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New EU Digital Law Puts Apple, Google and Meta to the Test

CPA Practice

By Samuel Stolton. Bloomberg News (via TNS). Apple Inc., Alphabet Inc.’s Google and Meta Platforms Inc. face the risk of potentially hefty fines as the European Union opened a full-blown investigation into the firms’ compliance with strict new laws reining in the power of Big Tech. The European Commission said Monday that Apple and Google’s app store rules will be targeted in the first probes under the bloc’s Digital Markets Act, how Google search results might unfairly preference its own servic

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The California Enterprise Zone Tax Credit Will Disappear in 2024

LSLCPAs

The California Enterprise Zone Tax Credit program ended in 2013 with the dissolution of Enterprise Zones. Two things happened as a result of the dissolution: Any employees hired and equipment purchased after December 31, 2013, would not qualify for the tax credit. The carryover period for tax credits that had been for an unlimited number. The post The California Enterprise Zone Tax Credit Will Disappear in 2024 appeared first on LSL CPAs.

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Corporate Finance Leaders Still Concerned About Bank Failure, Survey Shows

CPA Practice

Depositors expect their needs for safety and values to align when choosing a banking partner in the wake of 2023’s bank failures and a resurgent focus on corporate responsibility. That’s according to the first annual Depositor Priorities Survey report, commissioned by Ampersand Inc. , a financial services firm revolutionizing deposit management. The full survey results, based on responses from leading executives and senior managers across industries involved in deposit administration, can be fou

Finance 64
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Top 5 Reasons to Attend a Salesforce World Tour

Accounting Seed

Salesforce World Tour events bring Salesforce users, partners, customers, and the surrounding community together for a day filled with innovation, transformative learning, and inspiring conversations around today’s business challenges. Whether you’re currently using Salesforce for CRM or exploring the possibility of moving onto the platform, the Salesforce World Tour New York is the event.

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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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HMRC Powers if you deliberately evade tax

Menzies

Menzies LLP - A leading chartered accountancy firm. If you don’t declare or don’t pay the tax you owe to HMRC, it’s likely you will receive significant penalties and in some cases be criminally prosecuted. But did you know that HMRC can publish your details, or enter you into a programme to monitor your affairs more closely if HMRC consider you to be a serious tax defaulter?

Tax 59
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State CPA Societies in Action: Arizona Society of CPAs

CPA Practice

Celebrating its 100 th birthday in 2023, the Arizona Society of CPAs works to create opportunities for its members, while working to promote the interests of Arizona CPAs with governments and regulatory agencies and organizations. [ State CPA Societies in Action is a series of articles spotlighting the varied educational, advocacy, networking and professional activities of the state CPA societies across the U.S. ] The ASCPAs mission is to create professional opportunities for members and prospec

Arizona 52
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Changes to the EMI share option notification deadline

Menzies

Menzies LLP - A leading chartered accountancy firm. HMRC has recently changed the time limit on the reporting for new EMI notifications granted from 6 April 2024. Under the new legislation, the deadline to report the grant of new EMI share options is now 6 July following the end of the tax year in which they were granted. Therefore, any EMI share options granted between 6 April 2024 and 5 April 2025 must electronically notify to HMRC by 6 July 2025.

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On-Demand Webinar: A Look Into Post-Pandemic Supply Chain Resiliency

Withum

When you’re responsible for a global business with both suppliers and customers thousands of miles away, you may stay up some nights thinking about major unpredictable disasters and disruptions that could put your supply chain at risk. If you don’t have contingency plans in place for even seemingly mundane events, the business consequences could be enormous.

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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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Data Shows Finance and Insurance Sector Has Had 70 Percent Increase in R&D

CPA Practice

Companies in the US finance and insurance sector have increased their R&D investment by 70.4% compared to the previous year, according to the latest annual data. The second highest increase of all sectors in the US. In the latest year, companies in the sector invested a total of $20.9 billion on R&D, up from $12.3 billion the previous year. The level of increased investment is nearly seven times higher than the US average.

Finance 52
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Divorce Case Expert Witnesses

FraudFiles

What kind of work can a forensic accountant do in divorce cases? Tracy Coenen talks about the work of a CPA, including calculating income, evaluating financial disclosures, valuing assets, and completing a lifestyle analysis.

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Corvee Adds Home Office Deduction Tax Position to Instead

CPA Practice

Corvee, a software and solutions company serving small and medium-size businesses as well as tax and accounting firms, has added home office deduction filing guidelines to Instead and Instead Pro. A home office deduction allows for the deduction of expenses related to a portion of a home that is used exclusively and regularly for business operations or activities.

Tax 52
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IRS revises whistleblower form

Accounting Today

The Internal Revenue Service has updated its whistleblower award form for tipping off the IRS about tax violations and applying for a monetary reward for the information.

Tax 54
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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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2024 International ProAdvisor Application Period Closes March 31

Insightful Accountant

This is your last opportunity to 'self-nominate/apply' for the 2024 International ProAdvisors Awards. The application period will close on March 31, 2024.

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The Non-Dom status is changing! What you need to know & tax plan for

Wellers Accounting

Find out how the Non-Dom status and tax regime is going to change, it's impact, and top tax planning tips for the new rules.

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3 insights for navigating Section 174 legislation

ThomsonReuters

Section 174 Capitalization of the Tax Cuts and Jobs Act (TCJA) has created confusion for many corporate tax specialists to work through in the coming months. Pending legislation is complicating matters even further. Panelists from the Thomson Reuters webinar, Section 174: What We Now Know , discussed these challenges, and provided key insights to help tax professionals navigate this murky landscape. __ Here are three important takeaways from their conversation: #1 – Big changes to resear

Tax 45
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Chicago voters reject mansion tax

Accounting Today

The measure would have allowed the city council to increase transfer levies on upmarket residential and commercial property sales.

Tax 52
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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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Supply to goods for Job Work, have you filed your ITC-04

VJM Global

Job work is an indispensable part of the business and most of the manufacturing entities are required to get their work done from the job worker on a regular basis. However, whether it is Central Excise, Service tax or Goods and Service Tax, special provisions are always provided under the law for goods sent on job work basis. Under CGST Law, a person sending goods for job work is required to file Form GST ITC-04 on GST portal to furnish information about goods sent for job work or goods receive

Tax 40
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Short Term Business Visitors: Overview

Menzies

Menzies LLP - A leading chartered accountancy firm. As a general rule, any individual undertaking employment duties in the UK is immediately liable to UK PAYE taxes, even if they are only in the UK for a matter of days. However, HMRC advises employers that it may be possible to relax strict PAYE requirements for employees on short-term business visits to the UK.

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Demand order in Form GST DRC-07 is not sustainable when order is issued in Form GST ASMT-12

VJM Global

Held by Hon’ble High Court of Madras In the matter of Radiant Cash Management Services Ltd., Vs. The Assistant Commissioner (ST) (W.P.No.2981 of 2024 and W.M.P.Nos.3246 & 3247 of 2024) Since commencement of Assessments under GST, there are many practical issues which are being faced by the Assessee. One of the common issues is issuance of GST ASMT-10 and DRC-01 for the same matter.

Account 40
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Employer’s Year End Reporting Deadlines

Menzies

Menzies LLP - A leading chartered accountancy firm. As another UK tax year draws to a close, here is a summary of the employer’s reporting deadlines that are approaching. If you have any questions about any of the reporting obligations, please just let us know. Approaching deadlines: 4 April 2024 – Gender Pay Gap Reporting If you employ 250 or more people on a specific date each year (the “snapshot” date), you must submit a Gender Pay Gap Report within a year of the snapshot date. 5 April

payroll 40
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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.