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Accounting and finance employment is projected to grow 4% from 2022 to 2032, with about 126,500 openings for accountants and auditors each year on average. 1 But attracting and retaining talent is proving difficult for several accounting recruiters and accounting talent acquisition specialists. Many of these openings are expected to result from the need to replace talented employees who have either switched occupations or exited the labor force (e.g., retirement).
The landscape of Corporate Transparency Act beneficial ownership information reporting continues to evolve, and accountants and others who advise their small business clients need to stay ahead of the curve.
By Gail Cole. Sales tax holidays are all the rage right now. There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024. If you’re in retail, hang on to your hats and read our sales tax holiday FAQ to learn: What is a sales tax holiday? Do all states have a tax holiday? What products are included in tax-free weekends?
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
By Gail Cole. Hawaii has some of the highest median home prices and rents in the country — and a persistent housing crisis. Could tax incentives geared toward turning Hawaii short-term rentals (STRs) into long-term housing increase housing stock and decrease rents for Hawaiians? Governor Josh Green thinks so. Governor Green has vowed to sign into law any bill that would transform STRs and vacant investment properties owned by nonresidents into housing for locals.
The Securities and Exchange Commission charged the fast-rising auditing firm with deliberate, systemic failures to comply with PCAOB standards for audits and reviews.
May is Military Appreciation month in the US and we at Insightful Accountant want to say "Thank You" to those who are serving or have served, and to their families for their service.
May is Military Appreciation month in the US and we at Insightful Accountant want to say "Thank You" to those who are serving or have served, and to their families for their service.
Internal audit hiring manager are looking for recent college grads who have learned about accounting and auditing, but also technology like data analytics.
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.
Sen. Ron Wyden, in a letter, demanded that TurboTax refund customers who, due to a software glitch, were inappropriately encouraged to take non-optimal choices, resulting in higher taxes.
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.
Expanding business operations globally allows companies access to new markets, more efficient manufacturing options, new technologies, a larger workforce and new sources of inventory. At the same time, global expansion increases the level and complexity of taxation. Therefore, a well-thought-out global tax management strategy will be imperative to the success of your global business activities.
Wolters Kluwer Tax & Accounting (TAA), a global leader in professional information, software solutions, and services, today announced plans to deliver new AI-enabled capabilities to tax and accounting professionals, as part of its innovation strategy centered on firm intelligence. TAA’s leveraging of advanced, proprietary technologies that incorporate AI and GenAI will equip tax and accounting professionals with the efficiency, information, and insights needed to drive value for their clien
Despite your (and/or your accountants’)best efforts , occasional errors or omissions relating to your personal tax return are unavoidable. It is possible that you forgot to include a tax slip, overstated your expenses or was unaware of a specific tax credit. Luckily there is fairly simple mechanism that allows you to change your tax return, which can either be done online or by filling out a form and mailing it in.
When a small company holds a life insurance policy, estate planning gets complicated — which is why assigning it to an individual or a family may be the better choice.
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.
Investment platform Lightyear today releases new analysis – alongside a vox pop video – that shows that the majority of Brits will miss out on £2,000 of interest in the next five years by keeping their savings in low-interest accounts. Lightyear’s analysis of savings data published by the Bank of England on 30.04.24 shows that the average interest rate on an easy-access savings account is 2.12%, much lower than the current base rate of 5.25%.
As accounting businesses and firms prepare for the future, many of them are realizing that empowering women is of great importance for helping their firm forge the way of doing.
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.
The majority of businesses require the use of cars and other types of vehicles to meet with clients, and suppliers, purchase goods, make service calls and of course check in with their accountants. The usage of a car for tax purposes is not necessarily straightforward as many employees and business owners use their vehicles for both business and personal reasons.
Ryan, a Dallas-based international tax firm and software provider, has filed suit against the Federal Trade Commission over the rule issued last week outlawing non-compete employment agreements.
Small construction businesses have several characteristics that distinguish them from larger firms. These characteristics include having a limited workforce, smaller revenue streams, and a more localized focus. They are often run by the owners themselves or a small team of employees. They tend to have a more personal approach to their work, as they are usually more involved in every aspect of the project.
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.
The IRS said it’s gearing up to increase audit rates by more than 50% on wealthy taxpayers with more than $10 million in total positive income and nearly triple audit rates on corporations with assets over $250 million by 2026, Commissioner Danny Werfel said on Thursday, as the agency released an update to its strategic operating plan. However, the IRS chief once again emphasized to reporters yesterday that audit rates won’t increase for small businesses and taxpayers making under $400,000, sayi
By Keith Laing, Bloomberg News (TNS) The Biden administration gave carmakers a partial reprieve in finalizing electric vehicle tax credit rules intended to loosen China’s grip on battery materials crucial to the car industry’s future. Starting in 2025, plug-in cars containing critical minerals from businesses controlled by U.S. geopolitical foes, including China, will be ineligible for up to $7,500 tax credits, the Treasury Department said Friday.
Accountants are at a unique juncture where the convergence of a massive redistribution of wealth and rapid technological advancements can redefine their roles and impact.
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.
“Borgers and his sham audit mill have been shut down.” Fresh off the SEC press release press , the Securities and Exchange Commission today charged audit firm BF Borgers CPA PC and its owner, Benjamin F. Borgers with deliberate and systemic failures to comply with Public Company Accounting Oversight Board (PCAOB) standards in its audits and reviews incorporated in more than 1,500 SEC filings from January 2021 through June 2023.
The Biden administration gave carmakers a partial reprieve in finalizing electric-vehicle tax credit rules intended to loosen China's grip on battery materials crucial to the car industry's future.
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