Tue.Oct 22, 2024

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When Venture Capital Flies High, Accounting Services Crash Hard

AccountingDepartment

In the fast-paced world of small and medium-sized businesses (SMBs) and startups, reliable accounting services are crucial. Recently, a new trend has emerged—accounting firms operated with the help of venture capital funding. On the surface, these services may appear attractive due to their low costs and initial benefits. However, SMB owners, entrepreneurs, and finance professionals need to tread carefully.

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Grant Thornton Expands Workday Practice Leadership Team

CPA Practice

Grant Thornton, a provider of end-to-end audit, assurance, tax and advisory services, has appointed Greg Davis to lead the firm’s Workday practice. Grant Thornton has also enhanced its Workday leadership team with the addition of Andrew (Drew) Houts, who joins the firm with nearly a decade of Workday ecosystem leadership experience. Since 2019, Grant Thornton has teamed up with Workday , a leader in enterprise cloud applications for finance and human resources.

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Understanding Nevada LLC Taxes

inDinero Tax Tips

You may have heard that Nevada LLC taxes are favorable to business owners. This is true if you plan to do business there, but keep in mind it’s rarely advantageous for out-of-state businesses to incorporate somewhere other than their home state; taxes accrue where you do business, not where you incorporate. In this article, we’ll cover everything you need to know about Nevada LLC taxes, from pass-through treatment to self-employment, sales, and payroll taxes.

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AICPA Asks Treasury for Guidance on Marijuana Law Changes

CPA Practice

In May of 2024, the Department of Justice (DOJ) issued proposed language that would reschedule marijuana from a Schedule I controlled substance to a Schedule III controlled substance, subject to section 280E of the Internal Revenue Code. The American Institute of CPAs submitted a letter to the Department of the Treasury and the Internal Revenue Service (IRS) requesting guidance for cannabis businesses in advance of the impending transition away from engaging in a trade or business that subjects

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

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

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Achieve Sustainable SaaS Growth with the Rule of 40

BurklandAssociates

The Rule of 40 helps you balance rapid growth with long-term profitability as you scale your SaaS startup. The post Achieve Sustainable SaaS Growth with the Rule of 40 appeared first on Burkland.

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Forvis Mazars Unveils Sales and Use Tax Estimation Platform

CPA Practice

Top 10 accounting firm Forvis Mazars has launched SALT Explorer, a sales and use tax estimation platform for its construction industry clients navigating their state and local tax (SALT) challenges. SALT Explorer provides sales and use tax estimates for incorporation into project bids, helping reduce the risk of sales and use tax exposure and enhancing financial performance, the firm says in a media release.

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Intuit Launches FP&A and Management Solution for Growing Businesses

CPA Practice

If you’ve worried that growing clients are ready for an enterprise resource planning (ERP) platform, but would be overpaying for an overpowered and overly complicated solution, the worry stops now. Intuit launched Intuit Enterprise Suite on Sept. 17 to provide right-sized solutions for growing, complex businesses that need advanced reporting, financial planning and analysis (FP&A), and business management tools, all with a single login.

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By the numbers: Industry niches, standard deductions and more

Accounting Today

The latest data on how accounting firms spend time serving CAS clients, current and projected standard deductions, and other key metrics.

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AICPA Offers Financial Tips to Recent Hurricane Victims

CPA Practice

As residents across the southeast continue to pull their lives back together following the devastating destruction of Hurricanes Helene and Milton, the personal financial planning experts at the American Institute of CPAs are offering tips to help with financial well-being and planning for the future. “Victims have a lot of things to sort through following a major disaster, including getting their financial house in order,” says Dan Snyder, director, Public Accounting (Personal Financial Plannin

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IRS adjusts tax amounts for inflation for 2025

Accounting Today

The Internal Revenue Service issued its annual inflation adjustments for tax year 2025, including changes in the standard deduction, marginal rates, tax credits and more.

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Live Demo - Supercharge your Month End Close

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

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Finish Strong: 9 Year-End Marketing Tips Every Accounting Firm Needs

CPA Practice

As the year ends, you have a unique opportunity to engage clients and showcase your expertise with year-end marketing initiatives. Here are some effective year-end marketing tips to help you to make the most of the season. Promote Year-End Tax Planning Services Offer a blog series, webinars, or video content focused on year-end tax planning strategies.

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After the election: What's next

Accounting Today

Regardless of the election results, we will see some tax legislation next year, says one expert.

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RSM Launches Suite of Integrated, Outsourced Solutions for Mid-Market Firms

CPA Practice

RSM US LLP, a provider of assurance, tax and consulting services for the middle market, that it has launched RSM Catamaran, a suite of integrated, outsourced solutions for middle market firms. RSM Catamaran offers an integrated, industry-focused, technologically advanced suite of outsourced solutions to help organizations manage and maintain back-office functions such as: Finance, accounting, and tax Managed IT and managed applications Security, governance and risk Human capital “I’m thrilled ab

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Thomson Reuters acquires AI specialist Materia

Accounting Today

Materia's platform can answer accounting queries in plain language and embed citations so users can verify the information.

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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Mastering U.S. Federal Payroll Compliance

CPA Practice

In this white paper, we break down the key federal payroll laws, explore important compliance insights, highlight the role of technology, and provide practical tips for maintaining compliance. Understanding and compliance with Federal Payroll Laws including ERISA, ACA, FLSA, and CCPA Insights into core compliance components such as EIN, FICA, tax withholding, and employee classifications How leveraging payroll technology can greatly assist in maintaining compliance Practical tips for payroll pro

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PCAOB sanctions, bans firm and bars partner

Accounting Today

The Public Company Accounting Oversight Board imposed a $50,000 fine, revoked the firm's registration and barred its partner.

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From Overlooked Liability to Optimized SaaS Sales Tax Compliance in Avalara

Cherry Bekaert

A B2B subscription-based billing and financial operations Software-as-a-Service (SaaS) company (the Company) engaged Cherry Bekaert tax professionals to file prior returns and close accounts. In reviewing the Company’s data, the Firm’s Sales & Use Tax team realized its tax compliance software was not properly set up according to current sales tax regulations for SaaS companies.

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Accountants more pessimistic about global economy

Accounting Today

Global confidence among accountants globally declined in the third quarter to its lowest level since 2023, although confidence increased in North America.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

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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EY’s Global Revenue Up Only 3.8% to $51.2 Billion in 2024

CPA Practice

A year after posting nearly double-digit revenue growth , EY said on Oct. 17 that its global revenue increased 3.8% in U.S. currency terms in 2024 to $51.2 billion for the year ending June 30. That represents 3.9% revenue growth in local currency terms, the Big Four accounting firm said. In 2023, EY hauled in revenue of $49.35 billion globally, an increase of 9.3% in U.S. currency terms and 14.2% in local currency terms from $45.4 billion in 2022.

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In the blogs: Profound effects

Accounting Today

Local measures galore; AI to the rescue; franchisees' checklist; and other highlights from our favorite tax bloggers.

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Not For Profits makes a positive impact on society

Accounting for Good

Not For Profit organisations continue to make a significant difference to a large percentage of Australians.

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Microsoft launches AI agents, deepening rivalry with Salesforce

Accounting Today

The Redmond, Washington-based software maker said it would roll out 10 "autonomous agents" to complete tasks on behalf of people in areas such as sales, customer support and accounting.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

Speaker: Kim Beynon, CPA, CGMA, PMP

The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.

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How to Acumatica - Match Bank Receipt Transactions

Insightful Accountant

Murph looks at how to match a bank receipt transaction to a debit adjustment in Acumatica when users are running 2024R2.

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The Best Strategies for Nurturing Client Relationships

Summit CPA

Jamie and Jody engage in a dynamic conversation with guest Adam Kurzawa, covering the best strategies to nurture client relationships.

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Murph's ERP Alternatives to QuickBooks is tomorrow, Thursday, October 24th

Insightful Accountant

Tomorrow, Murph is presenting a 'Be Insightful' program covering ERP Alternatives to QuickBooks. The program includes the 10/24/24 webinar, a Blue Paper, and a follow-up Question & Answer workshop.

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Thomson Reuters Acquires AI Firm Materia

CPA Practice

Thomson Reuters Corporation, a global content and technology company, has acquired Materia, a U.S.-based startup that specializes in the development of an agentic AI assistant for the tax, audit and accounting profession. This transaction, which is complementary to Thomson Reuters AI roadmap, accelerates Thomson Reuters vision for the provision of generative AI tools to the professions it serves.

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Doing More With Less: The Modern Finance Miracle

Speaker: Mark Gilham, FCCA, CPP

Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.

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Streamlining HR with AI: Insights for Accounting Firms with Michelle LeBlanc

Insightful Accountant

Join Gary DeHart and HR expert Michelle LeBlanc as they dive into streamlining HR with AI and insights for accounting firms.

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What will the Budget bring?

Inform Accounting

With the Budget coming on 30th October, speculation is increasing on what changes will be announced. The Chancellor and the Prime Minister have made comments to indicate that the Budget will bring “difficult decisions”.

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Be Insightful - Join Before October 29!

Insightful Accountant

Join Insightful Accountant's Be Insightful Premium Content and training program before October 29 and you will be entered into a drawing for a $5000 travel voucher.

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Celebrating the heart and soul of Greater Sydney

Accounting for Good

The Sydney Awards presented by the Committee For Sydney is a spectacular evening, and we are proud to play our part in the organisation.

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8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.