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Every year there are thousands of investigations launched by the IRS in their fraud prevention campaign. IRS criminal investigations during the 2023 tax filing year identified potentially $37.1 billion in tax fraud and the conviction rate was 88.4%. While these statistics might make business owners like you sweat a bit, the IRS knows that not everyone is out to commit fraud and that mistakes can happen to anyone.
In a post published on October 7th by Montclair State University titled “ Top 5 Reasons to Transition to an Accounting Career ” that can be best described as a thinly veiled advertisement for their Master’s program, the university explains “why making the leap into accounting might be the best move you ever make.” This should be good.
In today’s rapidly evolving digital landscape, organizations are constantly seeking innovative solutions to streamline operations, enhance productivity and drive growth. As a consultant for Withum, a Microsoft Partner, I have witnessed firsthand the transformative power of Microsoft Copilot for business and Copilot Studio chatbots in achieving these goals.
Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Sign up now to view the complete candidate list and connect with potential hires.
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
[Updated on Oct. 10; originally posted on Oct. 7.] CPA Practice Advisor wants to highlight those in the accounting and tax communities who have begun or are in the process of mobilizing efforts to help those impacted by Hurricane Helene. Whether it’s providing important news and resources on your website or volunteering to help residents or businesses in your community, we want to share what you or your organization is doing.
While the potential rewards are attractive, for many of the small to midsized players, there are a host of operational and tax-related implications that need to be addressed.
While the potential rewards are attractive, for many of the small to midsized players, there are a host of operational and tax-related implications that need to be addressed.
As you may have heard, BDO’s last PCAOB inspection was ass with an impressively bad 86% deficiency rate. That’s so ass that even Grant Thornton did better than they did (54%). Apparently some Dem senators are outraged at the PCAOB for this, insinuating that the PCAOB could be doing a better job bullying firms into not being so ass at auditing.
A group of lawmakers has urged the IRS to loosen the identity verification requirements to access the new Direct File system by dropping the mandate to follow stringent ID.me standards.
Contributor: Tiffany Rodi, Sales & Use Tax Senior Manager In today’s complex tax landscape, businesses must navigate a myriad of regulations that vary by state and region. Product Tax Codes (PTCs) play a crucial role in this process by determining the applicable taxability for goods and services, which are often taxed and treated differently depending on the state or jurisdiction.
The M&A market can be affected by a multitude of factors including political, economic, and social elements. Election cycles have historically impacted M&A activity and the current presidential election is no different. Prior to an election, there is always uncertainty as to the outcome and the potential effects of new policies. The M&A market is not insulated to this uncertainty.
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 Dallas Gagnon masslive.com (TNS) The Social Security Administration has announced the cost of living adjustments (COLA) for 2025 and it’s the lowest increase recipients have received in years. Social Security benefits and Supplemental Security Income payments will increase for more than 72.5 million Americans by 2.5% in 2025, the SSA announced in a release.
By Kristin Alexander. Convenience store operators cater to customers with many needs, including travelers filling up their gas tanks, hopeful lottery winners, and neighborhood residents with midnight munchies. Ensuring everyone gets what they came for is more complicated than stocking shelves with a bit of everything. Selling a variety of products, especially heavily regulated ones like alcohol and tobacco, makes business license management complex.
The Governmental Accounting Standards Board is considering changes in the financial reporting rules for infrastructure assets and is looking for 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.
The Internal Revenue Service (IRS) has unveiled draft Form 7217, "Partner's Report of Property Distributed by a Partnership," set for implementation in the 2024 tax year.
If the Massachusetts legislature fails to sign off on a proposal to temporarily raise commercial rates before the end of next month, Mayor Michelle Wu said the city would need a tax increase.
Businesses must commit to strategic decision-making to survive today’s fast-paced business environment. The financial reporting feeding into those decisions demands timeliness and requires absolute accuracy. At the same time, companies need to ensure that their financial statements meet all regulatory requirements. Automation with software like Workiva allows companies to use dependable internal financial reports while.
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.
Is the software you rely on running on Oracle Cloud Infrastructure (OCI) and you don't even know it? It very well could be, and you might just find out by listening to 'Business Radio.
By Gail Cole. As of January 1, 2024, beverage alcohol producers must have a license to ship alcohol directly to consumers in Alaska. While direct-to-consumer (DTC) licenses have long been required in most other states that permit DTC shipping, this is a new requirement in Alaska: Beverage alcohol manufacturers could ship to Alaska consumers without a permit prior to 2024.
Qualified plans remain one of the last, legitimate mechanisms for closely-held business owners to generate deductions. Some plans allow closely-held business owners to deduct more than a 401k or traditional pension plan may allow. What Are the Potential Benefits? Guaranteed retirement income All earnings tax deferred during accumulation Deductions in excess of $300,000 depending on demographics A valuable employee benefit Typically exempt from creditors Who Are the Ideal Candidates?
In the dynamic landscape of finance and tax, discussions surrounding AI and automation have become increasingly prevalent. ChatGPT stands out as one of the most widely recognized.
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.
Avantax Inc., a community within Cetera Holdings and a leader in tax-focused financial planning and wealth management, has welcomed several new independent financial advisors who have affiliated with Avantax to help strengthen their ability to offer clients comprehensive tax-intelligent financial services. Financial professionals transferring to Avantax receive the tax-intelligent tools, technology, resources and home office support needed to help clients pursue their financial goals.
In this ebook, Sean M. Duncan, CPA, helps us learn why ownership training goes beyond technical skills. He dives into essential topics like accountability, leadership, financial realities, and delegation.
Managing a successful public accounting firm is an ongoing process, with leaders constantly needing to adapt workflows and technologies that can help them achieve greater operational freedom and financial growth. On October 22-23, 2024, the free, virtual WorkflowCon conference for accounting firm leaders, hosted by Financial Cents , will focus on a wide range of topics, with the theme, “FREEDOM TO SCALE: Unlock Your Firm’s Potential for Operational Freedom and Profitable Growth.
Following the recent natural disaster, we paused our scheduled programming to provide our viewers with key information on Federal Emergency Management Agency (FEMA) assistance for recovery. This podcast provides essential details on deadlines, the application process for the FEMA Public Assistance Program and what to expect after applying. Kat Kizior, Grant Management Manager, and new co-host Paula Heller, Grants Management Senior Associate, join forces to address FEMA grant funding possibilitie
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.
This year, the NYU School of Professional Studies (NYU SPS) Division of Programs in Business Finance and Taxation programs will bring its 83 rd Institute on Federal Taxation (IFT) to the Westin New York at Times Square, October 20 —25, and the Hotel Del Coronado in San Diego, November 17 —22. Designed for professionals who handle federal tax matters, the IFT provides high-level updates, insights, analyses, and practical advice from America’s top tax authorities on the latest federal tax trends a
Dent Moses is committed to keeping you informed of the latest tax-saving strategies. We are sharing our AG-YE_YR Tax Planning Guide-2024_DM. The guide highlights some key considerations, but keep in mind that this resource is intended to provide broad suggestions only. There is no substitute for the guidance of an advisor who understands your specific needs.
In this episode, Gary DeHart interviewed Blake Grewal, founder of Bold Growth, to discuss how accounting firms can leverage data-driven decisions and customer journey mapping to improve client experiences and firm efficiency.
Menzies LLP - A leading chartered accountancy firm. At Menzies, we are no strangers to discussing estate planning with our clients and listening to their concerns surrounding the passing of wealth to the next generation. When passing assets down to the next generation, no matter how big or small the amount you are passing onto beneficiaries, you are losing control over the eventual location of the asset.
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.
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