GrowthForceBlog
FEBRUARY 9, 2024
8 min read Businesses hold two types of assets: tangible and intangible. Most business owners are familiar with their tangible assets, the things of value that they can hold and see like their office building, vehicles, supplies, materials, furniture, equipment, and cash. Intangible assets, however, are just as relevant and even more important for some businesses than tangible assets.
MyIRSRelief
FEBRUARY 9, 2024
When the Internal Revenue Service (IRS) imposes a wage or bank levy , it can create a significant financial strain on individuals and businesses alike. A levy is a legal seizure of property to satisfy a tax debt, and when it comes to wages or bank accounts, the impact is direct and immediate. However, there are avenues for obtaining relief from these levies, and understanding these options is crucial for those affected.
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Accounting Today
FEBRUARY 9, 2024
The 150-hour requirement for obtaining a CPA license has led to a decline in Black and Latino CPAs of up to 26%, according to a research study.
CPA Practice
FEBRUARY 9, 2024
By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) The Kansas City Chiefs, making their second consecutive appearance, are set to play in Super Bowl LVIII against the San Francisco 49ers. As usual, fans are anticipating the commercials and Usher’s halftime show. And there’s also lots of talk about Taylor Swift and Travis Kelce. However, if you are among the 68 million people expected to place bets on the big game, you need to know that taxes are part of the equation.
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 9, 2024
A provision paying for breaks for parents and business owners has earned widespread praise, but an expert says financial advisors should be on alert.
CPA Practice
FEBRUARY 9, 2024
While job openings remain elevated and talent shortages persist, there is less attrition in the labor force with fewer workers planning to change jobs this year. According to new research from talent solutions and business consulting firm Robert Half, only 36% of workers plan to look for a new job in the next six months, down from 49% in July 2023. Professionals Most Likely to Make a Move (By Generation and Specialization) Generation February 2024 July 2023 Gen Z 55 % 74 % Millenni
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
FEBRUARY 9, 2024
By Erin Adler, Star Tribune (TNS) CliftonLarsonAllen (CLA) has signed a 16-year lease for a space to train employees at the Viking Lakes campus in Eagan, with plans to invest $10 million in its new “connection center.” CLA will be located near the e-sports space and the Longship at Viking Lakes co-working area and the Viking Lakes Innovation Center.
Nancy McClelland, LLC
FEBRUARY 9, 2024
(c) NATP If you’re a regular reader, you already know that I’m a huge fan of the National Association of Tax Professionals (NATP), for a bunch of reasons: Fabulous and affordable education with top-notch instructors Straightforward “how-to” resources Practical monthly newsletter with case-studies On-demand “pay as you go” research service And a very fun group of folks at the annual conference!
Accounting Today
FEBRUARY 9, 2024
Schneider Downs launches SD Digital; Bowers CPAs & Advisors relocates in Rochester; and more news from across the profession.
Ronika Khanna CPA,CA
FEBRUARY 9, 2024
The first important year end deadline for corporations , with employees, is the end of February. Salary declarations including T4 and RL1 (in Quebec) slips and summaries have to be filed with CRA and RQ. While there are numerous payroll software that handle the filing of the T4 and RL1 slips , the RL1 summary is usually left to the employer (and/or their accountants) to file.
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.
Cherry Bekaert
FEBRUARY 9, 2024
Grant recipients, and hopeful recipients, are often overwhelmed by the management aspect of their funds. On this episode, Cherry Bekaert experts provide insight on key considerations for a comprehensive grant budget. Kimberly Konczack, an Advisory Manager at Cherry Bekaert, hosted Shuo Zhang, Manager, and Kat Kizior, Senior Associate, to discuss their experience with grants management at state and local organizations, grant budgets and the importance of planning.
Randal DeHart
FEBRUARY 9, 2024
As a construction business owner, improving productivity is essential to your company's success. But you may often find yourself pulled in different directions by competing responsibilities. At some point, we all experience that. Classifying tasks and tackling the most time-consuming ones can feel daunting. But why is it so hard for us to start – or even finish – seemingly insignificant tasks?
Accounting Today
FEBRUARY 9, 2024
Plus, Schneider Downs launches SD Digital group; and other updates from the accounting technology world.
Going Concern
FEBRUARY 9, 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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Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.
Accounting Today
FEBRUARY 9, 2024
The Internal Revenue Service revised its frequently asked questions page on the Premium Tax Credit used for buying health insurance through the ACA marketplaces.
Withum
FEBRUARY 9, 2024
The transfer pricing landscape constantly evolves with rapidly changing IRS policies and procedures and greater efforts directed towards effective enforcement and identifying noncompliance among taxpayers. Last October, the IRS announced that we could expect new enforcement initiatives using the Inflation Reduction Act (IRA) funding, including a “large foreign-owned corporations transfer pricing initiative.
GrowthForceBlog
FEBRUARY 9, 2024
7 min read With the automation afforded by modern accounting software and accompanying tools, mistakes and errors are few and far between.
AccountingDepartment
FEBRUARY 9, 2024
We are thrilled to announce that Episode 12 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.
Advertiser: Paycor
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Accounting Insight
FEBRUARY 9, 2024
Quadient AR and Quadient AP now integrate with Sage Intacct to provide predictive analytics and intelligent insights for North American and European finance teams Quadient (Euronext Paris: QDT), a leader in helping businesses create meaningful customer connections through digital and physical channels, today announced that its financial automation cloud offerings for accounts receivable (AR) and accounts payable (AP) are endorsed as “Recommended Solutions” by Sage, the leader in accounting, fina
Accounting Today
FEBRUARY 9, 2024
The American Institute of CPAs sent letters to the Treasury and the IRS asking for filing relief for taxpayers affected by major disasters and for more guidance on information returns for grantor trusts.
Going Concern
FEBRUARY 9, 2024
A recent piece in Hartford Business talks about accounting firm mergers and the aging partners driving all this M&A activity. The TLDR is tons of firms are looking to sell, not many are eager to buy. Here are a few bullet points for you to chew on: Drew Andrews, managing partner and CEO of Hartford-based accounting and consulting firm Whittlesey, said the main factor driving mergers is the significant number of smaller firms with aging partners who are looking toward retirement, but don’t ha
Accounting Today
FEBRUARY 9, 2024
Many downstream accounting tech solutions are simply not ready for full automation and AI-powered transactions.
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 9, 2024
Hosts Randy Johnston and Brian Tankersley, CPA, discuss the Acumatica Summit, which they attended in Las Vegas in late January. Acumatica offers an intuitive cloud ERP for businesses. Use the podcast player below to listen to the podcast. Transcript (Note: There may be typos due to automated transcription errors.) SPEAKERS Brian F. Tankersley, CPA.CITP, CGMA, Randy Johnston Randy Johnston 00:03 Well, good day, and welcome to the counting Technology Lab.
Withum
FEBRUARY 9, 2024
Recently, the Internal Revenue Service (“IRS”) and the U.S. Treasury Department (Treasury) released proposed regulations for donor advised funds (DAFs) under section 4966 (REG-142338-07) which includes updated proposed interpretive guidance surrounding excise tax on taxable distributions from a DAF. The regulations propose changes to: The definition of a DAF The exceptions to the definition of a DAF The types of distributions that may be subject to excise taxes What Is a DAF?
Accounting Today
FEBRUARY 9, 2024
The short report by Muddy Waters accuses Fairfax of manipulating asset values to the point that a "conservative adjustment" would reduce its book value by roughly $4.5 billion, or 18% lower than reported.
Withum
FEBRUARY 9, 2024
As conversations continue over due diligence for technology companies, it is prudent we build off of Key Areas of Due Diligence for Technology Companies from 2023 and work our way into the forecast ahead in 2024. Podcast Spotlight: Due Diligence for Technology Companies Listen in to this episode of The Capital Table as Steve Brady , Market Leader of Transaction Advisory at Withum, and John Schrumpf , Transaction Advisory Manager, discuss key areas of due diligence for technology companies.
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
SchoolofBookkeeping
FEBRUARY 9, 2024
As tax season kicks into high gear, Intuit QuickBooks is reinforcing its commitment to supporting accounting professionals and their small business clients. In a recent press release, Intuit announced a series of updates aimed at simplifying tax filing processes, reducing stress for accountants, and enhancing overall platform reporting capabilities.
Withum
FEBRUARY 9, 2024
Most of us don’t have hundreds of thousands, millions or even billions of dollars at our disposal to purchase our favorite sports team. However, it is a dream for many sports fans to fantasize about owning a sports team. This dream is becoming reality for some wealthy fans. Some investors are willing to spend significant amounts of money to acquire a small ownership in their favorite sports team.
CPA Practice
FEBRUARY 9, 2024
Collecting, validating, storing, and renewing exemption certificates is a challenge for many tax and finance departments. Yet some tax teams have reduced if not eliminated the burden of exempt transactions. What’s their secret? What’s the most effective way for tax and finance departments to handle tax-exempt sales? Avalara and Hanover Research teamed up to find out.
ThomsonReuters
FEBRUARY 9, 2024
As we look to the future, the path of ambient AI goes beyond the workplace, affecting our daily interactions and experiences. AI-enabled self-driving transportation, real-world trials, and deployments are coming soon, shaping logistics, delivery vehicles, and Uber-like services. AI will become a vital part of our lives, subtly influencing how we operate without being obvious.
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.
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