Tue.Sep 17, 2024

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4 questions to ask yourself before choosing a sales tax calculation engine

TaxConnex

Getting the right sales tax on your invoice is a pivotal step in managing your sales and use tax obligation. Sales and use tax is a tax imposed on the use or consumption of a product or service and meant to be paid by the end consumer. In certain situations (when you have sales tax nexus), it is your obligation to collect and remit it. Unfortunately, this is easier said than done.

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Annual Financial Planning Resources for Startups

BurklandAssociates

Build a solid financial foundation for your startup’s future with these annual financial planning resources from Burkland’s blog. The post Annual Financial Planning Resources for Startups appeared first on Burkland.

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PCAOB shares best auditor independence practices

Accounting Today

Auditor independence is an area of common deficiencies year after year, according to PCAOB inspections.

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AI Forecast to Contribute Nearly $20 Trillion to Global Economy in Next 6 Years

CPA Practice

New research from IDC entitled, The Global Impact of Artificial Intelligence on the Economy and Jobs , predicts that business spending to adopt artificial intelligence (AI), to use AI in existing business operations, and to deliver better products/services to business and consumer customers will have a cumulative global economic impact of $19.9 trillion through 2030 and drive 3.5% of global GDP in 2030.

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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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Tax planning for the unknown

Accounting Today

Between the coming sunset of the Tax Cuts and Jobs Act, the presidential election and a host of other factors, this is shaping up to be a tough year for advising clients.

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While PwC Begs Clients Not to Leave, EY Hands Out Cake

Going Concern

PwC China is currently sitting on the sidelines after Chinese regulators handed down a six month ban and $62 million in fines for the firm’s work on collapsed developer Evergrande. At least five clients have left since the news of the punishment came out on Friday despite PwC’s assurance (no pun) they would continue to work to the extent they’re allowed through the ban period.

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Client Accounting Services to Help Drive Your Business

AccountingDepartment

When you have a small or mid-size business, one of the issues you can run into is not having all the departments a larger company would have. In other words, you might not have dedicated employees for HR, accounting, and other areas. Fortunately, there are ways to outsource a number of services, including client accounting services. This helps keep your company growing and succeeding, without the need to bring on more employees or overwork yourself to get everything done.

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[CPE] What to Expect in the Upcoming Tax Season

CPA Practice

Explore key topics for the upcoming tax season, including recent tax law changes, the impact of evolving technology, and adjustments to reporting requirements. Register now Program Level Basic Prerequisites None Field of Study Business Management and Organization Advance Preparation Needed None Delivery Method Group Internet-Based Recommended CPE Credit 1 Credit per 50-Minute Session Registration Instructions Register Online Cost Free Complaint Resolution editor@cpapracticeadvisor.com Presented

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The Federal Crackdown on Worker Misclassification: Understanding the Stakes and Taking Preventive Measures

Withum

Worker misclassification remains a significant issue in the U.S. labor market, with substantial implications for both workers and employers. Misclassification occurs when businesses improperly classify workers who should be employees as independent contractors. This can lead to severe penalties, legal challenges, and back taxes for businesses. Recent efforts by the IRS and the Department of Labor (DOL) highlight the growing scrutiny on this issue and the necessity for businesses to take proactiv

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A Tax-Friendly Way for Businesses to Help Teachers with Supplies

CPA Practice

By Gary C. Smith. There is a good chance that many teachers are paying for classroom supplies with their own money. In these days of shrinking school budgets, they have become an expert in doing more with less. Probably, no one has told them that many of these same classroom supplies are available at no cost to teachers through something called a gifts in kind organization.

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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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Who's filing for the CTC?

Accounting Today

Those earning between $30,000 and $40,000 filed 3,160,016 refundable CTC claims and received a total of $6,561,128,000 in returns.

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Intuit Launches AI-Enabled Intuit Enterprise Suite

CPA Practice

Intuit has launched Intuit Enterprise Suite , a configurable suite of integrated financial products designed to seamlessly scale and enhance productivity and profitability for businesses as they grow. Intuit is the financial technology platform that makes TurboTax , Credit Karma , QuickBooks , and Mailchimp , as well as solutions for accounting and tax professionals.

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IRS finalizes rules on consistent basis reporting for estates

Accounting Today

The Internal Revenue Service issued final regulations on consistent basis reporting between an estate and a person acquiring property from a decedent.

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Trullion Releases AI-Powered Audit Suite Platform

CPA Practice

Accounting automation platform Trullion announced its Audit Suite, a cloud-based solution designed for auditors to leverage artificial intelligence to enhance accuracy and reduce human error in audits. With Audit Suite, Trullion enables audit teams to work within an AI-driven ecosystem that improves collaboration, mitigates errors, and enhances overall audit quality, the company said in a media release on Tuesday.

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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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ATA scores private equity investment

Accounting Today

The Regional Leader firm based in Jackson, Tennessee, has received a strategic investment from Copley Equity Partners LLC.

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Many Retirees Plan to Return to Workforce in 2025

CPA Practice

Thousands of retired seniors may soon be returning to the workforce, driven by various financial and personal factors. That’s according to a new survey from ResumeBuilder.com , a resource for professional resume templates and career advice, that looks at the employment status and plans of U.S. residents aged 65 to 85. Results showed that 13 percent of retired seniors say they’re likely to re-enter the job market next year.

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IASB looks to improve statement of cash flows

Accounting Today

The International Accounting Standards Board has begun a research project to review the requirements for the statement of cash flows and related matters.

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KPMG Is Ditching 38,000 Square Feet in San Francisco

Going Concern

As reported by San Francisco Chronicle , KPMG is downsizing its San Francisco office space when its lease runs out at 55 2nd Street where the firm occupies 138,000 square feet. Image: Google Wrote SFC: The deal comes after KPMG in March moved to extend its lease at its current office at 55 Second St., which it has occupied since 2003, on a short-term basis of less than three years.

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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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Xero to buy reporting and analytics platform Syft

Accounting Today

Business solutions platform Xero announced it will acquire cloud-based reporting, insights analytics platform Syft.

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Impact of Transferable Energy Tax Credits on Private Equity Investments

Cherry Bekaert

Discover how the Inflation Reduction Act (IRA) has revolutionized renewable energy tax credits, allowing them to be transferred or sold to qualified buyers, including private equity fund managers. This tax credit development offers a streamlined approach for taxpayers to monetize energy tax credits and a significant tax planning opportunity for private equity funds and their portfolio companies.

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Riveron acquires Effectus

Accounting Today

The business advisory and consulting firm is adding a San Jose-based accounting advisory and financial operations firm.

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Prager Metis to Pay $1.95 Million to Settle SEC Charges Over FTX Audits

CPA Practice

Top 60 accounting firm Prager Metis agreed to pay $1.95 million to the Securities and Exchange Commission (SEC) on Tuesday to settle charges that it bungled audits of failed crypto asset trading platform FTX. Prager Metis also settled separate charges that it violated SEC auditor independence rules. In addition, the firm agreed to be censured. Gurbir Grewal “Effective investor protection requires a collaborative approach that includes both regulators and gatekeepers, such as auditors.

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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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In the blogs: Nonsense

Accounting Today

Projected brackets; the remote debate; relief and refunds; and other highlights from our favorite tax bloggers.

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Xero Acquiring Syft

Insightful Accountant

Xero has just announced that they are acquiring Syft Analytics to enhance their reporting and insights capabilities.

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SEC charges tech execs with $1.3M fraud, lying to auditors

Accounting Today

The SEC alleges Kubient's two former execs and former audit committee chair artificially inflated the company's revenue and lied to auditors.

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Future Forward Webinar and Qvinci® help you 'Build Advisory'

Insightful Accountant

With the right tools at hand you can have the 'Advisory' service offerings you want to sustain your practice. Murph explains how Qvinci's Turnkey Advisory offering makes it possible.

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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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Prager Metis to pay $1.95M to SEC for FTX audits and independence violations

Accounting Today

The firm agreed to settle charges with the SEC over negligence for its work for the now shuttered crypto exchange.

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Reckon named “Great Place to Work”

Reckon

Is your small business a great place to work? Reckon is! For 2024-2025, Great Place To Work has stamped its seal of approval and determined that Reckon is an industry leader in nurturing our employees and providing a safe workplace. So, who is Great Place To Work, and how did Reckon measure up? About Great Place to Work Great Place To Work is an industry body that consults on workplace management and provides certifications for businesses of all sizes on their capacity to offer a great working e

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The future of group audit technology

Accounting Today

Emerging technologies are revolutionizing the group audit process with solutions to navigate the complexities and enhance audit quality.

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What's In Intuit's New 'Intuit Enterprise Suite'?

Insightful Accountant

Murph provides a glimpse into some of what Intuit Enterprise Suite will incorporate and what it may mean for ProAdvisors and Accountants.

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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.