Canopy Accounting

FEBRUARY 23, 2024

Staying ahead, (or even keeping stride), with the tech curve is not just an ambition, it’s a necessity. Canopy's latest ebook, "Embracing Tomorrow: The Blueprint of a Future-Focused Accounting Firm", serves as an invaluable asset for accountants aiming to future-proof their practices. The overall message is clear — the future of accounting is technologically innovative, client-focused, employee-focused, sustainable, and driven by data.

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Account accountant accounted Technology 52

MyIRSRelief

FEBRUARY 23, 2024

Facing the IRS can be a daunting experience, especially when dealing with unpaid back taxes, unfiled returns, and the looming threat of bank levies. For many, the stress and confusion surrounding tax debt can feel overwhelming. However, it’s crucial to understand that there are avenues available to navigate this complex terrain. In this comprehensive guide, we’ll delve into the intricacies of IRS bank levies, the repercussions of unpaid back taxes and unfiled returns, and the invalua

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tax return Tax CPA accounting and finance 130

Accounting Today

FEBRUARY 23, 2024

It's not just the 150-hour rule for obtaining a CPA license that may be the culprit for the talent shortage, according to an academic study.

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accounting standards Account accountant accounted 134

CPA Practice

FEBRUARY 23, 2024

By Nate Varel. Amid technological advancements, the audit professional’s role, characterized by a deep attention to detail, compliance and risk management, is proving to be vital well outside the traditional confines of finance. Auditors are poised to become crucial facilitators in the accounting and finance function’s adoption of AI and large language models (LLMs).

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audit auditor accounting and finance Technology 114

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.

Account

Accounting Today

FEBRUARY 23, 2024

The changes underway in setting global taxes are leading to confusion for many countries that authorities are trying to alleviate.

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Tax corporation tax 119

CPA Practice

FEBRUARY 23, 2024

FORVIS, a leading accounting and consulting firm, today published its annual national nonprofit study, revealing that 71% of nonprofits had increased demands for their programs and services in 2023, resulting in waitlist increases and delays. Additionally, to mitigate operational expenses, more than two-thirds of organizations are planning to cut programs and services over the next two years.

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Management Consulting Education Tax Technology 105

CPA Practice

FEBRUARY 23, 2024

AICPA & CIMA, which together form the Association of International Certified Professional Accountants, today announced they have become members of the IFRS Foundation’s Partnership Framework and a contributor to the standard-setting organization’s Knowledge Hub. The two initiatives are designed to raise global awareness about the IFRS Sustainability Disclosure Standards and support implementation of them.

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Randal DeHart

FEBRUARY 23, 2024

Construction Company owners like you have probably experienced life-changing events in the past few years, as many of our clients did. Are you struggling to keep your construction business afloat? Do you find yourself facing the same issues over and over again? It's common for construction businesses to meet various challenges, but if you're not addressing them properly, they can quickly become pitfalls. 1.

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Construction 85

CPA Practice

FEBRUARY 23, 2024

By Nellie Akalp. In the hectic world of finance and business, staying ahead of the curve is crucial. As trusted advisors to your clients, you are central in guiding them through the maze of business structuring options. While the Limited Liability Company (LLC) has long been a popular choice, other alternatives may better suit your clients’ needs. Let’s explore two noteworthy possibilities: 1—S Corporations (S Corps) S Corps offer unique tax advantages and flexibility, making them an attractive

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payroll tax Non-Profits Legal payroll 78

Ronika Khanna CPA,CA

FEBRUARY 23, 2024

For all Canadian businesses that have employees on their payroll, the deadline to file your T4s is February 28th (unless it is a leap year and then it is February 29th), The good news is that it has become much easier to prepare and submit the T4s particularly if you are submitting them electronically. The Canada Revenue Agency (CRA) encourages businesses to file the T4s electronically and it should be noted that e-filing is mandatory for employers with more than 50 employees.

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quickbooks payroll accounting and finance Start-ups 76

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.

CPA Practice

FEBRUARY 23, 2024

By Stephanie Collins. Accounting firms and departments face continuous pressure to attract and retain talent due to a persistent shortage of qualified professionals to do the work. Scores of certified public accountants (CPAs) are leaving the profession or retiring, and fewer candidates are available to replace them, leaving many organizations short staffed and concerned for their futures.

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Cherry Bekaert

FEBRUARY 23, 2024

Contributor: Kathleen Kizior The American Rescue Plan Act (ARPA) is one of the largest economic stimulus packages in U.S. history, focused on addressing the immediate challenges posed by the COVID-19 pandemic and supporting the recovery of individuals and the economy. Under the Coronavirus State and Local Fiscal Recovery Funds rule (31 CFR 35) , state and local governments were provided provisions for the use of this funding, including dates and deadlines.

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Government accounting standards payroll audit 75

Going Concern

FEBRUARY 23, 2024

Yesterday the SEC charged the soon-to-be-ex-husband of a BP mergers and acquisitions manager with insider trading after hubby allegedly listened in on his wife’s work-related convos about a particular acquisition. Ironically, husband Tyler Loudon allegedly hoped that the trading — which ultimately netted him $1.76 million — would give the couple enough money for his wife to pull back from work.

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Ohio 70

AccountingDepartment

FEBRUARY 23, 2024

We are thrilled to announce that Episode 13 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.

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accounting careers Account accountant accounted 85

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

FEBRUARY 23, 2024

Baker Tilly, Mazars USA, and Withum were fined a combined total of $2.14 million earlier this week for breaking various Public Company Accounting Oversight Board auditing rules. Grant Thornton’s India arm and an Australian audit firm also received penalties from the PCAOB. The biggest fine was given to top 25 accounting firm Withum, which was docked $2 million on Feb. 21 for “pervasive” quality control violations found in its audits of special-purpose acquisition companies (SPACs) in 2020 and 20

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audit auditor Tax accounting firms 69

Accounting Today

FEBRUARY 23, 2024

Plus, Sovos debuts Compliance Cloud, for tax compliance and regulatory reporting; and other accounting tech news.

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Technology quickbooks Tax Account 93

Going Concern

FEBRUARY 23, 2024

They are also utilizing puns in press release titles which is somehow scarier. Announced Wednesday , the IRS has decided to put some of that Inflation Reduction Act funding toward scrutinizing the use of private jets, “a complex area where IRS work has been stretched thin” according to Commissioner Danny Werfel. Dozens of audits on business aircraft maybe being inappropriately used for personal purposes began this week.

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audit Tax 67

Accounting Today

FEBRUARY 23, 2024

The Internal Revenue Service issued a FAQ on a program that offers help to farmers, ranchers and forest landowners who experienced discrimination by the USDA in farm lending.

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Agriculture Tax 66

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 23, 2024

By Eyal Shinar. In the 2000s and 2010s, CPAs witnessed technology advancements that largely accrued to accounting-centric workflows. Vendors streamlined tasks like bookkeeping which unblocked time for higher-value opportunities, namely client accounting services (CAS). CAS created significant value for staff and clients of accounting departments, evidenced by reports of double-digit annual growth and clients’ willingness to pay up to 20% more for these services.

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Accounting Today

FEBRUARY 23, 2024

The SEC's new cybersecurity disclosure rules will affect plenty of businesses, but a survey finds many cyber professionals lack confidence they can comply in time.

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Technology 68

Randal DeHart

FEBRUARY 23, 2024

Construction Company owners like you have probably experienced life-changing events in the past few years, as many of our clients did. Are you struggling to keep your construction business afloat? Do you find yourself facing the same issues over and over again? It's common for construction businesses to meet various challenges, but if you're not addressing them properly, they can quickly become pitfalls. 1.

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Construction 52

Withum

FEBRUARY 23, 2024

Download a PDF of this case study. Executive Summary Withum has teamed up with an insurance coverage provider for the higher education sector (the Client), using the most recent technology developments to overcome the difficulties of offering precise and tailored customer service. The Client is changing the way customers get help with their questions about their coverage by using cutting-edge artificial intelligence (AI), including the newest Retrieval-Augmented Generation (RAG technology), to m

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Education Technology 52

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.

Accounting Today

FEBRUARY 23, 2024

Okorie Ramsey, the chair of the AICPA and vice president of SOX at Kaiser Permanente, dives into how accounting firms can make the most of this important recruiting and career development tool, and the benefits it offers for both mentee and mentor.

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accounting firms Account accountant accounted 54

CPA Practice

FEBRUARY 23, 2024

Hosts Randy Johnston and Brian Tankersley, CPA, offer a report on the 2024 Zoho Analyst Day conference. The event, held in McAllen, Texas, gave attendees an inside look at tech developments the vendor is making, as well as the opportunity to speak one-on-one with developers. Use the video player below to watch, or the podcast player below to listen to the podcast.

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Accounting Today

FEBRUARY 23, 2024

What if you viewed busy season as an opportunity to make continuous improvement?

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Tax 73

CPA Practice

FEBRUARY 23, 2024

Marketing for advisory services firms is a nuanced process that requires a blend of traditional strategies and innovative approaches to stand out in a competitive landscape. The goal is to not only attract clients but to also build long-term relationships by demonstrating expertise, trustworthiness, and value. Marketing Secrets Here are several marketing tips tailored for advisory services firms, complete with bulleted items and examples to guide your strategy.

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Account accountant accounted cpas 72

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Finance

Accounting Today

FEBRUARY 23, 2024

Grimbleby Coleman launches new wealth management division; HHM CPAs hires three senior managers; and more news from around the profession.

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cpas 54

ThomsonReuters

FEBRUARY 23, 2024

Jump to: Why is it important to be proactive toward sales tax audits? How can my company prepare for a potential sales tax audit? How can tax technology help when defending an audit? When and how should tax systems be upgraded? Sales tax audits are laborious, complex, data-intensive events that almost all companies must endure at some point. By the time an audit is triggered , however, it is too late to change the outcome in any meaningful way because the transactions and events under audit have

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audit Sales Tax auditor 52

Going Concern

FEBRUARY 23, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

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Cherry Bekaert

FEBRUARY 23, 2024

As artificial intelligence (AI) makes its way further into every corner of our lives and aspect of our workplaces, it continues to present a myriad of challenges and opportunities. Businesses that are strategic and intentional about AI will be the ones to benefit and outpace the competition. However, there is no “how to” guide—not yet, at least. To plan for the still-emerging potential of AI, business leaders must understand the landscape and stay ahead of the technology as it continues to devel

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Technology Government Transportation New York 52

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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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