TaxConnex

MAY 11, 2023

A state has not added a statewide sales tax since Richard Nixon was in the White House. Vermont was the last to due so in 1969. There are five remaining states with no state level sales tax: New Hampshire, Oregon, Montana, Alaska and Delaware – often referred to as the NOMAD states. Businesses based in these states still have the obligation to track their nexus footprint outside of their state and manage sales tax where they’ve determined they have an obligation.

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CPA Practice

MAY 11, 2023

By George Kelly, Silicon Valley, San Jose, CA (TNS) A 58-year-old Oakland man and five others have been charged with various crimes related to a multimillion-dollar COVID-loan fraud scheme, a U.S. Justice Department spokesman said Wednesday. At the center of the scheme, according to federal prosecutors, is former IRS agent Frank Mosley, who was also identified as a “current city of Oakland tax enforcement officer.

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payroll tax return payroll tax Tax 127

Withum

MAY 11, 2023

Vault has ranked Withum as #6 on its annual Best Internships for Compensation & Benefits list. Vault provides in-depth career intelligence for emerging professionals by industry and company. Famous for its meticulous research and annual rankings, it creates its rankings from surveyed professionals, then uses a weighted formula to calculate, analyze, and publish the results.

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CPA Practice

MAY 11, 2023

By James Paille, CPP. Accounting firms have faced a volatile profession in the past year as teams struggled with burnout while staff shortages increased, regulatory changes caught firms off guard – increasing compliance and security concerns – and tax laws became increasingly more confusing for clients and CPAs alike. Evolving client demands rank among the top drivers influencing recent shifts in accounting and firms must find new ways to deliver exceptional service.

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ThomsonReuters

MAY 11, 2023

QUESTION: Throughout the pandemic, our company’s group health plan has covered COVID-19 testing and vaccines at no cost to plan participants. Is this still required now that the public health emergency has ended? ANSWER: During the COVID-19 public health emergency (PHE), which ended May 11, 2023, group health plans were required to cover COVID-19 testing with no cost-sharing, prior authorization, or other medical management restrictions.

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CPA Practice

MAY 11, 2023

By Leada Gore, al.com (TNS) Some energy efficient updates could qualify homeowners for up to $3,200 in tax credits. The Inflation Reduction Act of 2022 includes credits for taxpayers who make qualifying energy improvements to their home, according to the IRS. Here’s what you need to know about the credits: What credits are available? Taxpayers can claim the Energy Efficient Home Improvement Credit and the Residential Clean Energy Credit.

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CPA Practice

MAY 11, 2023

By Erin Bendig, Kiplinger Consumer News Service (TNS) Thinking of pursuing a career in finance? Although it’s a lucrative career path, the field is highly competitive. In a recent study, Tipalti found which states were the best to pursue a career in finance or accounting by analyzing the number of jobs available, average salaries, and university rankings.

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Insightful Accountant

MAY 11, 2023

The organizations have released a new online learning platform that will help accounting and finance professionals improve and update their skills in today's digital landscape.

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accounting and finance Finance Account accountant 97

CPA Practice

MAY 11, 2023

A New Jersey Certified Public Accountant has pleaded guilty to conspiring to defraud the United States by promoting fraudulent tax shelters to high-income clients. According to court documents and statements made in court, James H. Benkoil of Avon-by-the-Sea, New Jersey, promoted fraudulent syndicated conservation easements in which several investors form a partnership or company to purchase or invest in land, then donate the property for a charitable deduction.

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Cherry Bekaert

MAY 11, 2023

It’s been well over a year since the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA or the Infrastructure Bill) was passed into law, with a five-year allocation of $550 billion in federal investments in America’s infrastructure to upgrade highways and major roads, bridges, airports, ports and water systems. As of May 2023, according to the White House (2023), over 20,000 projects have been awarded more than $200 billion from the IIJA.

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Manufacturing Government Transportation Technology 97

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.

CPA Practice

MAY 11, 2023

Kiplinger Consumer News Service On Mother’s Day each year, billions of dollars are spent on moms nationwide — the National Retail Foundation estimates that just over $274 is spent, per person, to show moms some love. And this year, estimates are that consumers plan to shell out $35.7 billion for Mother’s Day celebrations. But, at the same time, data from the Financial Health Network and a report from Century Foundation show that millions of mothers face retirement insecurity.

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income tax accounting and finance Tax Washington 98

Insightful Accountant

MAY 11, 2023

W-9 and Contractor Payment options are among the QuickBooks Online updates inspired by accountants.

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quickbooks Account accountant accounted 119

Going Concern

MAY 11, 2023

Article image is a still from Armanino’s 2019 recruiting video ‘The Perfect Taco’ Armanino is getting into the marketing business. In recent years, there’s been a push for CPA firms to serve as one-stop shops for more than just tax expertise and audits. And why not? Deloitte Digital has been doing it (and exceptionally well as evidenced by their many, many awards) for years.

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CPA Practice

MAY 11, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, CITP, CGMA discuss the practical application of ChatGPT for accounting professionals, as well as the possible benefits, limitations and risks. Use the podcast player below to listen.

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accounting firms Technology Account accountant 85

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

AccountingDepartment

MAY 11, 2023

For any business owner, one of the key areas of focus should be the company’s future. Financial planning is a vital part of that plan, helping business owners leverage growth and expand their operations. If a business owner hasn’t focused on this aspect, they need to understand what it is, what it does, and how it differs from regular accounting. What Is FP&A?

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financial statements Account accountant accounted 70

Withum

MAY 11, 2023

The global supply chain is an ever-evolving system that impacts businesses and industries worldwide, including the automotive sector. As parts and components must be regularly and reliably sourced, the supply chain has become increasingly important. From mass production and assembly lines to smaller body shops and car repair facilities, the supply chain has a significant role in how automobiles, trucks and other vehicles are manufactured, maintained and repaired.

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Manufacturing Transportation Technology 69

CPA Practice

MAY 11, 2023

Zillow has launched its Zillow ChatGPT plugin, which gives users a new way to discover real estate listings. Users who enable the plugin can use conversational language to ask about specific property listings or share the types of for-sale and rental homes they are interested in, including location, price range, and bedroom and bathroom count. The Zillow plugin then retrieves relevant information from Zillow’s extensive database of real estate listings.

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Going Concern

MAY 11, 2023

[Ed. note: scroll down for assy commentary and screenshots of BDO leadership’s visit to India just days after they laid off a bunch of people in advisory , I need to get this part out of the way first] Financial Times has written about BDO USA’s plan to double its offshore workforce and couched the move as a direct result of the accountant shortage here in the US. “Shortage of young accountants leads BDO USA to double offshore workforce,” reads their headline.

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audit accounting and finance Tax Start-ups 57

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Technology

Patriot Software

MAY 11, 2023

You’ve passed your CPA (certified public accountant) exam—hooray! But to keep your license active, you need to receive CPE credits according to your State Board of Accountancy’s requirements. So, what are CPE credits, and how can you earn them? What does CPE stand for in accounting?

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CPA Practice

MAY 11, 2023

The Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) on Thursday that would add illustrative guidance to help companies determine whether profits interest and similar awards should be accounted for as a share-based payment arrangement. In the proposed ASU, the FASB says: Certain entities provide employees or other service providers with profits interest awards to align compensation with an entity’s operating performance and provide those holders wit

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accounting standards financial accounting Account accountant 52

Withum

MAY 11, 2023

Recently, I led a webinar on a day in the life of a frontline worker , where we talked about the many capabilities and benefits contained within Microsoft 365 (M365) for these workers and their organizations. M365 addresses many challenges organizations face around communication, schedule management, training and onboarding, engagement, and manual processes.

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ThomsonReuters

MAY 11, 2023

Partial Report on the Independent Dispute Resolution (IDR) Process October 1 – December 31, 2022 (Apr. 2023); DOL: Federal Independent Dispute Resolution Process – Status Update (Apr. 27, 2023) Partial Report Status Update The DOL, HHS, and IRS have jointly issued a partial report with usage data on the surprise billing independent dispute resolution (IDR) process created when the Consolidated Appropriations Act, 2021 (CAA, 2021) expanded patient protections to shield individuals from surprise b

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Advertiser: Paycor

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Withum

MAY 11, 2023

With an industry as unique at the dealership industry, hiring managers often look within their organizations when trying to fill open positions in the back office. This is a double-edged sword that can either save you money or cost you a lot of money; the odds are 50/50, at best. The skillset necessary to be successful in the dealership accounting space is specific and takes time to acquire.

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accounts payable Start-ups Account accountant 52

Menzies

MAY 11, 2023

Menzies LLP - A leading chartered accountancy firm. One of the main aspects you need to think about when becoming a landlord is the tax position and ensuring that you meet the tax reporting requirements. When you start receiving rental income, you must notify HMRC by 5 October following the end of the tax year rental income commenced to register for Self Assessment.

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income tax tax return chartered accountant Legal 52

Canopy Accounting

MAY 11, 2023

What's new: Users can now apply retention rules on document folders to designate a specified amount of time to retain any files inside those folders. During this time period, these rules would prevent users from archiving or deleting files until the time period is reached or the file is moved into a different folder without retention rules (requires permission to do so).

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Menzies

MAY 11, 2023

Menzies LLP - A leading chartered accountancy firm. One of the main aspects you need to think about when becoming Self Employed is the tax position and ensuring that you meet the tax reporting requirements. When you become Self Employed you must notify HMRC by 5 October following the end of the tax year You will need to keep clear and detailed records of income and expenses and ensure this includes invoices raised, payments received, as well as invoices paid and receipts which demonstrate costs

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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.

Finance

Basis 365

MAY 11, 2023

Cost accounting is essential to running a business, as it helps companies identify and understand their costs, expenses, and profitability. By tracking costs, companies can make informed decisions about pricing, product development, and resource allocation. Let’s explore the importance of cost accounting and the key metrics businesses should track to optimize their operations.

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cost accounting Account accountant accounted 52

Anders CPA

MAY 11, 2023

Understanding the connections between your overall wellbeing and your level of success as an entrepreneur can unleash better business decisions. It’s generally assumed that success in business drives happiness, but what if the formula works better the other way around? But Who’s Counting? host David E. Hartley met with Erin Joy for a wide-ranging conversation about what it means to find success as an entrepreneur, and more importantly how it feels.

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Canopy Accounting

MAY 11, 2023

If you've spent any time near a screen lately, you’ve heard of ChatGPT — a language model trained by OpenAI. Every day, a new thread appears of someone who has figured out the next neat trick ChatGPT can do. With the evolution of AI and OpenAI-based architecture, almost every industry must decide how to incorporate AI into their work models, including ours.

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accounting firms Account accountant accounted 52

FraudFiles

MAY 11, 2023

I hear it over and over again: “A private investigator says he can find my husband’s secret bank accounts.” Not without breaking the law! I fight against this all the time. People are out there saying they can magically find the secret bank accounts.

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"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.

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