GrowthForceBlog
DECEMBER 1, 2023
9 min read CEOs are supposed to be creative visionaries with specialized knowledge in their industries, and that's great for carving out a niche and unique value proposition for your business
MyIRSRelief
DECEMBER 1, 2023
C Corporations are a common choice for many businesses, offering a range of tax benefits that can lead to significant savings. This article will answer some of the most frequently asked questions about C Corporation tax savings. What is a C Corporation? A C Corporation is a legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity.
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CPA Practice
DECEMBER 1, 2023
The Department of the Treasury and the Internal Revenue Service have issued two items of guidance on the excluded entity restriction of the section 30D clean vehicle credit, as amended by the Inflation Reduction Act. Under the excluded entity restriction, vehicles are not eligible for the clean vehicle credit if the battery contains battery components manufactured or assembled or applicable critical minerals extracted, processed or recycled by a foreign entity of concern (FEOC).
Accounting Today
DECEMBER 1, 2023
The Institute of Management Accountants is rolling out a new Financial and Managerial Accounting Associate certification that requires no prerequisites like a college degree.
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
CPA Practice
DECEMBER 1, 2023
The Public Company Accounting Oversight Board (PCAOB) has doled out a record $20 million in total fines to audit firms and individual auditors so far in 2023, almost doubling the previous high mark of $11 million set last year. PCAOB Chair Erica Williams had warned audit firms that strengthening enforcement would be one of the regulator’s top priorities during her tenure, saying the PCAOB “will not hesitate to hold wrongdoers accountable for breaking the rules.
Accounting Today
DECEMBER 1, 2023
The Securities and Exchange Commission voted to approve a new standard for audit confirmations that updates a decades-old standard to recognize the use of technology.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Accounting Today
DECEMBER 1, 2023
The guidelines, which were required as part of a deal to extend the $7,500 tax credit through Biden's signature climate law, set a 25% ownership threshold for a company or group to be classified as a foreign entity of concern.
Going Concern
DECEMBER 1, 2023
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.
Accounting Today
DECEMBER 1, 2023
The hub will support use of the International Sustainability Standards Board frameworks for disclosing climate risks, in conjunction with the UN COP28 climate change conference.
CPA Practice
DECEMBER 1, 2023
Technologists Randy Johnston and Brian Tankersley, CPA, discuss TeamMate Document Linker for External Audit, a solution from Wolters Kluwer designed for CPAs, saving junior auditors time, strengthening audit quality, and improving auditor satisfaction. Use the podcast player below to listen. Transcript (Note: There may be typos due to automated transcription errors.
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.
Ronika Khanna CPA,CA
DECEMBER 1, 2023
Attending conferences and investing in ongoing training can be a great way for small business owners and the self employed to keep current on industry developments, ensure ongoing professional development and improve their skills. It also allows for networking opportunities and occasionally includes trips to exotic locations, which can be a welcome change in environment from working at your office.
Summit CPA
DECEMBER 1, 2023
Building a business that has longevity is a process that requires patience, diligence, and dedication. More specifically, establishing a company that is an enjoyable place to work, profitable, and sustainable will put you, as a business owner, in a position to achieve your long-term goals. Below are some actions you can take to ensure your business meets all three factors mentioned.
ThomsonReuters
DECEMBER 1, 2023
Jump to: What is Form 4562? Form 4562 instructions Is Form 4562 required every year? What is listed property for depreciation? What does a depreciation schedule look like? Section 179 and expensing property Running a company is expensive. Therefore, helping business clients save money and reduce their tax burden by expensing property they’ve purchased for their company and claiming deductions for depreciation or amortization of assets is critical.
Xero
DECEMBER 1, 2023
Following the Autumn Statement, you might be curious about the specific measures that impact Making Tax Digital (MTD). Especially since digital transformation is already underway, with Making Tax Digital for Income Tax on the horizon. Here’s a guide outlining what the announcement means for your practice and clients. Phased mandation is still going ahead Making Tax Digital for Income Tax (MTD for ITSA) is still coming into place.
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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.
Randal DeHart
DECEMBER 1, 2023
In today's digital age, online reviews hold immense power and influence over the success of small construction companies. With easy access to social media, Google reviews, and review websites, customers can easily voice their opinions and experiences with your business online. Most people searching for a local construction company - whether they need a plumber, painter, or general contractor, will check their online reviews before deciding.
CPA Practice
DECEMBER 1, 2023
By Michael Macagnone, CQ-Roll Call (TNS) The Supreme Court appeared ready Wednesday to disrupt the process that federal agencies use to police federal law violations, in a case that challenges enforcement actions at the Securities and Exchange Commission. Conservative justices expressed skepticism during oral arguments about the constitutionality of the current process at the SEC, where administrative law judges adjudicate violations and the defendants can’t get a trial by jury.
Accounting Today
DECEMBER 1, 2023
The Top 100 Firm adds a service line, CohnReznick announces a number of awards, and other news from across the profession.
AccountingDepartment
DECEMBER 1, 2023
We are thrilled to announce that Episode 7 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.
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.
Accounting Today
DECEMBER 1, 2023
Plus, Xero now automatically calculates sales tax; and other accounting technology news and updates.
CPA Practice
DECEMBER 1, 2023
The sessions and CPE fields of study for Ensuring Success 2023 have been announced. Ensuring Success will be held December 6-7, 2023. Professionals can earn up to 14 hours of free CPE during this 2-day annual, virtual conference. Additionally, EAs can receive up to 3 hours of CE credit. Register now and mark your calendar for Ensuring Success, to ensure you meet your year-end CPE requirements.
Withum
DECEMBER 1, 2023
The friends thou hast, and their adoption tried, grapple them to thy soul with hoops of steel. These are the words of Polonius in Hamlet Act I, Scene III, along with other pithy words of wisdom. I thought of this verse while I was reading an obituary of Charles T. Munger, who passed away November 28, 2023, at age 99, one month short of his 100th Birthday.
Going Concern
DECEMBER 1, 2023
…for charity. It was an honor to volunteer for a great cause at the Pie A Partner event in Washington, D.C. earlier this month! Whether we volunteer or donate, I encourage us all to give back to our communities this #GivingTuesday. pic.twitter.com/CnZ7ZLtWRU — Tim Ryan (@Timothy_F_Ryan) November 28, 2023 According to some pics we found, the event benefits “various charities” including Sunflower Bakery , DC Scores , and N Street Village.
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.
Accounting Today
DECEMBER 1, 2023
Navigating the accountant shortage by embracing technology
inDinero Accounting
DECEMBER 1, 2023
Ask any entrepreneur, and they’ll tell you strategy and planning are essential when it comes to running a business. One of the first things you need to plan for is your business start up costs. In this article, we’ll walk you through how to estimate costs in theory and practice with a real-world example. We’ll also identify what the IRS officially regards as startup costs, so you can strategically time your expenses to maximize tax efficiency.
Nancy McClelland, LLC
DECEMBER 1, 2023
Insightful Accountant is hosting their last Future Forward virtual conference of the year on December 5-6, and I’m delighted to be presenting an exciting topic that resonates with the theme of Niches, Trends, and Predictions for 2024. I love this particular webinar series, as it’s a fabulous opportunity to connect with peers, get the latest industry updates, and explore best practices, new tech, and other developments in accounting.
Anders CPA
DECEMBER 1, 2023
Are you curious about the ins and outs of the cannabis industry and how your firm can offer services? In this podcast episode from the Summit Virtual CFO by Anders Modern CPA Success Show , Tom Wadelton and Jody Grunden interview one of their own, Guillermo Rodriguez , Virtual CFO and Cannabis Industry leader for Summit Virtual CFO by Anders. Together, they take a deep dive into the world of cannabis.
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
Nancy McClelland, LLC
DECEMBER 1, 2023
Insightful Accountant is hosting their last Future Forward virtual conference of the year on December 5-6, and I’m delighted to be presenting an exciting topic that resonates with the theme of Niches, Trends, and Predictions for 2024. I love this particular webinar series, as it’s a fabulous opportunity to connect with peers, get the latest industry updates, and explore best practices, new tech, and other developments in accounting.
DMCL
DECEMBER 1, 2023
Congratulations to our newest class of (soon to be accredited) Chartered Professional Accountants: Amy Cao Brian Alenton Brittney Lyons Edmund Ting Ekjot Singh Jane Guo Jeff Hinds Joyce Luo Justin Semkuley Karen Mak Kaylie Foskett Kiran Ghangus Liam McAllister Matthew Gazley Meng Sun Nav Gill Noah Lubberding Omar Castro-Garcia Phoebe Huynh Sam Choi Sam Raeisi Satinder Singh Stephen Kamyszek Tommy Tang We’re proud of your hard work, grit and determination.
Withum
DECEMBER 1, 2023
For many, blockchain is a bit like the Internet in the early ’90s: advanced, exciting, but slightly confusing. Does blockchain technology have the power to potentially revolutionize real estate? Many believe that the use of this technology could transform both investing in real estate and the operational transactions associated with owning real estate.
FraudFiles
DECEMBER 1, 2023
The financial portion of a lawsuit is often high-stakes. This is especially true in cases of divorce, breach of contract, securities fraud, tax fraud, money laundering, and white collar criminal defense.
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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