CPA Practice
MAY 9, 2024
Beginning in January, you’ll be able to contribute more to your health savings account (HSA), as the IRS released its annual inflation adjustments for HSA owners on May 9. For calendar year 2025, the annual contribution limit for an individual with self-only coverage under a high-deductible health plan (HDHP) will be $4,300. For an individual with family coverage, the amount will be $8,550.
Accounting Today
MAY 9, 2024
The Internal Revenue Service issued the annual inflation adjustments for health savings accounts in 2025 as prices continue to rise.
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Cherry Bekaert
MAY 9, 2024
For many architecture and engineering (A&E) firms, overhead rate audits are a critical aspect of financial management since they can be a great way for firms to recoup incurred costs necessary to run their business from the government. An overhead rate, also known as an indirect rate, is the percentage of indirect costs that are allocated to a contract or project.
Accounting Today
MAY 9, 2024
Overall, a better experience, but there were still some bumps on the road to April 18.
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CPA Practice
MAY 9, 2024
Hosts Randy Johnston and Brian Tankersley, CPA, look the Digilence Experience Cloud , a cloud-based digital intelligence solution for accounting firms. The Digilence Cloud accelerates the digitization of inefficient, repetitive processes across audit, tax, client accounting, and other back-office functions. Use the video player below to watch, or the podcast player below to listen to the podcast. – Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated t
Accounting Today
MAY 9, 2024
CliftonLarsonAllen, a Top 10 Firm, has acquired Engine B, a London-based company that helps accounting firms get more insights from their clients' data, effective May 1.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Accounting Today
MAY 9, 2024
The House passed a bill that would repeal the SEC's SAB 121, which requires custodians to list digital currency as a liability on their balance sheets. However the president said he'd veto the bill.
AccountingDepartment
MAY 9, 2024
The government contracting sector is highly regulated and requires strict compliance with Defense Contract Audit Agency (DCAA) regulations. With ever-evolving regulations and a complex accounting system to manage, the government contract (GovCon) industry has a steep learning curve for small and medium-sized contractors. However, technology has revolutionized business processes by simplifying accounting and ensuring DCAA compliance.
Accounting Today
MAY 9, 2024
Sikich LLC, a Top 50 Firm based in Chicago, has snagged a $250 million minority investment from private equity firm Bain Capital to fund further acquisitions and growth, becoming the latest in a series of firms to score PE money.
Going Concern
MAY 9, 2024
Good gosh that’s a firm handshake. Bain Capital’s PR people announced this morning that BC is putting $250 million into Top 30 firm Sikich (which we always want to type out as Sickish), an investment only slightly less than the Naperville, Illinois firm’s last reported revenue of $316,397,417 (per the IPA Top 500 ). That’s quite the growth bet.
Speaker: Gerald Ratigan
The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.
Accounting Today
MAY 9, 2024
An interpreter for the Los Angeles Dodgers star has agreed to plead guilty to criminal charges including filing a false tax return after secretly transferring about $17 million from the player's account to pay off gambling debt.
CPA Practice
MAY 9, 2024
Michael Sasso Bloomberg News (TNS) Score a victory for Mayberry. America’s small towns, like the iconic setting of television’s The Andy Griffith Show from the 1960s, saw more in-migration in 2023 than larger areas for the first time in decades. The remote work boom that prompted Americans to flee urban areas for mountain hamlets and seaside towns during the pandemic continued at least through last year, according to University of Virginia demographer Hamilton Lombard.
Accounting Today
MAY 9, 2024
The Internal Revenue Service and the Treasury Department plan to issue regulations on the interplay between foreign tax credits, dual consolidated losses and OECD rules.
Cherry Bekaert
MAY 9, 2024
The Governmental Accounting Standards Board (GASB) has issued Statement No. 102, Certain Risk Disclosures , to provide users of government financial statements with essential information about risks related to a government’s vulnerabilities due to certain concentrations or constraints. Although this new guidance centers around risk, GASB 102 does not define risk.
Speaker: Sean Yoder
Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.
Accounting Today
MAY 9, 2024
Bodies of evidence; the Ultimate crime; one expensive ghost; and other highlights of recent tax cases.
CPA Practice
MAY 9, 2024
The IRS said Thursday that interest rates will remain the same for the calendar quarter beginning on July 1. The interest rate for tax overpayments and underpayments for individuals will be 8% per year and 7% for corporations, compounded daily. Interest rates have stayed at their current levels since the fourth quarter of 2023 , when they increased from 7% for individuals and 6% for corporations.
Accounting Insight
MAY 9, 2024
IRIS Software Group (IRIS), a leading global software provider of accounting, edtech, HR and payroll solutions, today unveiled a series of product updates for its unified cloud accountancy platform, IRIS Elements , designed to automate workflows so accountancy practices can further digitise their operations without having to switch between multiple applications.
CPA Practice
MAY 9, 2024
You have a ton of content on your website. But are you marketing it as effectively as you can? Maybe you don’t have time or can’t be bothered. Maybe you aren’t sure how to do it. I’m here to let you in on Copilot’s tricks to help you be more effective with your marketing initiatives. What is Copilot? According to ChatGPT, “Microsoft Copilot is an AI-powered code completion tool developed by GitHub in collaboration with OpenAI.
Speaker: Joe Wroblewski, Sales Engineer Manager
Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te
Withum
MAY 9, 2024
In two weeks, I will be teaching a graduate course on audit concepts and methods to accounting students at Fairleigh Dickinson University. I’ve taught this previously and certainly know the material. However, my role is not just to teach the material but to excite them about accounting as a profession and auditing in particular and share my pride in the vital role auditors play in our ecosystem.
CPA Practice
MAY 9, 2024
More than three-fourths (77%) of tax professionals believe AI technology can be applied to their work, and more than half (56%) of in-house corporate tax teams think their external tax advisers’ firms should be using AI, shows a new report by Thomson Reuters. Thomson Reuters 2024 Generative AI in Professional Services report shows views towards AI among tax professionals have shifted significantly in the last twelve months.
Insightful Accountant
MAY 9, 2024
Tax pros post-tax season: vacation or dive into to-do list? Heavy workload can overwhelm, hindering productivity. Strategic techniques help navigate overwhelm efficiently and reduce stress.
CPA Practice
MAY 9, 2024
In what is the top 10 accounting firm’s first deal outside the U.S., CliftonLarsonAllen (CLA) said Thursday that it has acquired London-based Engine B, a technology company that specializes in delivering generative AI solutions for the professional services industry. “This strategic move—CLA’s first global acquisition—underscores the firm’s commitment to harnessing cutting-edge technology to enhance client service and enable CLA professionals to focus more on client engagement, pursuing new busi
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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
MAY 9, 2024
The first step in identifying invoice fraud and stopping it is knowing what you're looking for.
Insightful Accountant
MAY 9, 2024
A new 'Generative AI' report from Thomson Reuters shows 60% of corporate tax professionals now believe Gen AI should be applied to their work, up from 53% in 2023.
Reckon
MAY 9, 2024
Here at Reckon, our primary concern is the wellbeing and prosperity of Australian small and medium businesses. So, with the Federal Budget looming, we wanted to understand what they were really looking for. What measures are important to small businesses? We conducted a study to get to the bottom of what businesses want to see on 14 May 2024 when the Federal Budget drops.
CPA Practice
MAY 9, 2024
Sikich has locked up a $250 million minority investment from private equity firm Bain Capital to support the top 30 accounting firm’s aggressive growth strategy, focused on acquisitions and strategic partnerships. As part of the deal, Sikich maintains majority control of the company and its existing executive and leadership teams, led by CEO Christopher Geier.
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Summit CPA
MAY 9, 2024
Cash flow forecasting seems like a simple process, but it’s the most fundamental part of running a business. Forecasting helps you determine if you have enough money to keep the lights on, avoid overdrawing on your line of credit, send your employees home with paychecks, etc.
Cherry Bekaert
MAY 9, 2024
In the latest episode of the Talkin’ Talent, Sam McCarthy, Director at Cordia Resources by Cherry Bekaert, is joined by Tori Mitchell, SHRM-CP, Talent Acquisition Leader at Juno Search Partners. They discuss how the HR recruiting landscape has changed since the COVID-19 pandemic and what the next 12 months have in store. They also delve into why working with an HR recruiter can be beneficial in this complicated hiring market, common mistake leaders make when hiring for HR and what to do instead.
CPA Practice
MAY 9, 2024
Arvo Tech , which provides tax strategy solutions for small businesses, is launching a new version of its Work Opportunity Tax (WOTC) Credit program survey. The survey helps employers improve employee application rates and gather the data they need to take advantage of federal and state incentive programs aimed at helping them and increase WOTC certification rates.
ThomsonReuters
MAY 9, 2024
Jump to: Implications of the Corporate Transparency Act Congressional considerations and proposed solutions Evolving attitudes and potential changes to the Corporate Transparency Act To catch up with the Corporate Transparency Act, read our introductory blog below: Are you ready? The Corporate Transparency Act becomes effective Jan 1, 2024 In an effort to combat money laundering, tax fraud, and other illicit activities, the Corporate Transparency Act (CTA) was enacted in 2021 and became effe
Speaker: Victor C. Barnes, CPA, MBA
In the climb from contributor to leader, the rules quietly change. 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 (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). 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.
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