Tue.May 14, 2024

article thumbnail

How tax and accounting pros can navigate climate disclosures

Accounting Today

Reliable data is the foundation of effective climate-related disclosures, and audit and tax professionals' experience is essential in supporting this data's integrity.

Tax 83
article thumbnail

Sales tax and Marketplaces: Who owns the responsibility?

TaxConnex

Once upon a time, selling online meant little more than setting up a website and sending both marketing efforts and sales direct to your customers from you. No more. Online selling today often involves relying on such household-name marketplaces as Amazon, Etsy, eBay and now even TikTok. But selling in U.S. jurisdictions also involves dealing with sales tax.

Sales 203
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Taxes for Early-Stage Startups: What Do I Have to Pay?

BurklandAssociates

Staying on top of corporate taxes, payroll taxes, sales tax, and other tax obligations is a vital aspect of running a successful startup. The post Taxes for Early-Stage Startups: What Do I Have to Pay? appeared first on Burkland.

article thumbnail

IRS warns of new tax scams spread by social media

Accounting Today

The Internal Revenue Service cautioned consumers to beware of inaccurate advice which prompted thousands of taxpayers to file overblown claims and held up their refunds.

Tax 137
article thumbnail

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

article thumbnail

CPAs Provide Six Ways to Replenish the Talent Pipeline

CPA Practice

As the accounting profession continues to grapple with a shortage of new CPAs and fewer accounting graduates , an independent national advisory group has published six draft recommendations in a new report on what the profession can do to restock its pipeline with young talent. “The talent shortages of the past several years, coupled with strong demand for professional accountants, have created challenges throughout the profession.

cpas 119
article thumbnail

IRS cuts PTIN fees

Accounting Today

The Internal Revenue Service published final regulations officially lowering the fees for new Preparer Tax Identification Numbers and renewed PTINs.

Tax 132

More Trending

article thumbnail

2 Promotions to Associate at Wellers

Wellers Accounting

Simon Smith FCCA celebrates the promotion of Mike Webb and Doug Saunders to the position of Associate.

Tax 105
article thumbnail

Intuit Appoints Vasant Prabhu to Board of Directors

Insightful Accountant

Intuit, Inc. has appointed Vasant Prabhu, former Chief Financial Officer and Vice Chairman of Visa, to its board of directors.

104
104
article thumbnail

How to Explain Communications Tax to Clients

CPA Practice

By Dawn Moser. Has your business recently discovered it’s liable for communications tax? If so, you’re far from alone. Across sectors, countless telecommunications companies are learning that new technologies can subject them to additional regulatory fees and special taxes. Now, the question is: How will your company stay compliant if it’s taxed with higher complexity?

Tax 104
article thumbnail

Top 5 Best Accounting Softwares for Marketing Agencies

GrowthForceBlog

8 min read May 14th, 2024 For the modern, growing marketing agency, accounting software is necessary for running a financially healthy, compliant, and successful business. Key Takeaways Project-Based Accounting: Marketing agencies generate revenue based on projects and individual client relationships. As a result, project or client-based accounting capabilities are a must… Sage Intacct: Sage Intacct is one of the most customizable accounting software suites available on the market.

article thumbnail

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.

article thumbnail

How Bookkeepers & Accountants Can Overcome Imposter Syndrome

Nancy McClelland, LLC

Recently, I had the pleasure of joining Adam Lean of The CFO Project on his podcast, “ Escaping the Accountant’s Trap ,” to discuss imposter syndrome — what it really means, how to know if you have it (or are simply learning something new), and practical tips for overcoming those feelings of being a fraud. I also share my perspective on why imposter syndrome disproportionately affects women and minorities, the difference between self-doubt and truly being an imposter, and

article thumbnail

NYU to Host Federal Real Estate and Partnerships Tax Conference

CPA Practice

The NYU School of Professional Studies Division of Programs in Business will host the 2024 Federal Real Estate and Partnerships Tax Conference at the Mayflower Hotel in Washington, DC, from June 6 to 7. Attendees engage in two full days of advanced-level learning designed for accountants, attorneys, and tax and real estate professionals involved in the planning and transactional work related to partnership and real estate taxation.

article thumbnail

Regulatory, Tax and SOX Compliance for Biopharmaceutical Company Expanding U.S. Presence

Cherry Bekaert

When a United Kingdom-based company moved its headquarters stateside, leadership partnered with Cherry Bekaert to assist with compliance and regulatory requirements, and for guidance on future audit preparation. Company Background The company is a clinical-stage biopharmaceutical business developing a solution for chronic respiratory illness that aims to obtain approval as a maintenance drug in the United States.

article thumbnail

Defending IRS Cash-Based Audits – Guilty Until Proven Innocent: Computing Income

Withum

As discussed in our previous article, The Case for Using a Forensic Accountant , confronting the prospects of a cash-based audit is fraught with potential traps and exposure to civil and criminal penalties, including incarceration. Understanding the government’s process and having the information to respond quickly will make the process smoother. The goal should be to demonstrate that all income has been reported and, if that is not possible, keep the review in the civil realm.

audit 76
article thumbnail

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.

article thumbnail

PCAOB resets agendas as standards fall into place

Accounting Today

The Public Company Accounting Oversight Board updated its standard-setting, research and rulemaking agendas to reflect recent progress on modernizing the its older standards and rules.

Account 76
article thumbnail

New PCAOB Rules Would Push Auditors to Assemble Final Documentation More Quickly

CPA Practice

The Public Company Accounting Oversight Board (PCAOB) approved a sweeping new standard on the general responsibilities of an auditor on May 13, including a provision that significantly cuts the maximum time period for the auditor to assemble a complete and final set of audit documentation from 45 days to 14 days. Over the years, technology has enabled auditors to transition from paper-based audit documentation to electronic workpapers, which takes them less time to complete the final set of audi

auditor 69
article thumbnail

KKR taps private credit loan for Australian software firm MYOB

Accounting Today

KKR & Co. is in talks for a new loan with private credit lenders for MYOB, an Australian accounting software firm that the private equity giant acquired in 2019, people familiar with the matter said.

article thumbnail

PCAOB Replaces Old Quality Control Rules With a New Standard

CPA Practice

The Public Company Accounting Oversight Board (PCAOB) has overhauled its decades-old quality control requirements for audit firms by adopting a new standard on May 13 designed to put the onus squarely on auditors and executives. The new standard, which the board approved by a 4-1 vote on Monday, would require all PCAOB-registered accounting firms to identify their specific risks that would inhibit audit quality—like the use of technology-based auditing tools that could create new risks if they d

auditor 69
article thumbnail

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.

article thumbnail

AI makes zero-based budgeting a practical finance tool

Accounting Today

The convergence of machine learning, generative AI and autonomous sourcing gives organizations the ability to realize most of the ZBB ideal.

Finance 67
article thumbnail

Avalara Honored as 2023 BigCommerce Tech Partner Award Winner

CPA Practice

Avalara, Inc. , a leading provider of cloud-based tax compliance automation for businesses of all sizes, today announced that the company has been named BigCommerce 2023 Americas Tech Partner of the Year for seamlessly solving tax compliance challenges for ecommerce merchants. The BigCommerce Global Partner Awards recognize the top-performing partners among BigCommerce’s global network of thousands of agency and technology partners in its open ecosystem.

article thumbnail

How to Develop a Company-Wide AI Policy for ChatGPT and Other Generative AI Tools

Anders CPA

Generative AI technology, such as ChatGPT, Microsoft Copilot, DALL-E and more, has the potential to revolutionize industries and enhance business processes, but it also comes with risks and ethical considerations that must be carefully addressed. To ensure responsible and effective use of generative AI within your organization, it is crucial to establish a clear policy that outlines guidelines for its implementation.

article thumbnail

Leverage Voice of the Customer Analyses in Commercial Due Diligence to Amplify Post-Acquisition Growth

Cherry Bekaert

Applying voice of the customer (VoC) analyses at the beginning of the investment lifecycle can provide qualitative data on consumer behavior to inform investment decisions and post-transaction strategies. By integrating VoC methodologies within traditional due diligence processes, organizations can make better strategic decisions to validate the deal thesis and drive post-acquisition growth.

59
article thumbnail

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.

article thumbnail

In the blogs: Age before beauty

Accounting Today

Old IRS tech; lead, don't manage; an MP want-ad; and other highlights from our favorite tax bloggers.

Tax 56
article thumbnail

The 2024 Federal Budget recap for small businesses!

Reckon

Right! There we have it folks – the Federal Budget for 2024 has dropped with a host of measures that look good for business owners and individuals, as well as some omissions that people were looking for in our pre-budget poll. When we took a poll last week to gauge the temperature of small business owners ahead of the budget, we were able to home in on the most and least important budget inclusions.

article thumbnail

Today's QB Talks focuses on QuickBooks Live Expert Assist

Insightful Accountant

Alicia will host special guest Ted Callahan, Intuit’s Accountant Leader, Ted Callahan, to discuss how Intuit sees QuickBooks Live Expert Assist as a benefit to ProAdvisors.

article thumbnail

U.S. Retail Sales Saw Increase in April

CPA Practice

Retail sales grew modestly from the month before in April, but a shift in the timing of Easter appeared to be behind a slight year-over-year decline, according to the CNBC/NRF Retail Monitor , powered by Affinity Solutions and the National Retail Federation. “Consumer spending continues to drive economic growth and retail sales increases, though we see some moderation in spending as consumers continually search for value,” NRF President and CEO Matthew Shay said.

Retail 52
article thumbnail

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.

article thumbnail

Caseware Financials: Cloud-based Financial Reporting

Insightful Accountant

Caseware Financials delivers the power of cloud, data, automation and localized content in one dynamic app for statutory reporting.

52
article thumbnail

Three Creative Agency Pipeline Challenges – and How to Fix Them

Summit CPA

Across the creative agency industry, we’re hearing the same pain-point: pipelines are quieter, longer , and leaner. Now that pandemic relief money has been spent and the economy is in search of a new equilibrium, it looks like all eyes will be on pipeline for the near future. With a strong concentration in the creative agency space, we have our ear to the ground on pipeline issues.

52
article thumbnail

Empowering the next generation: How AI can support junior tax professionals

ThomsonReuters

Expectations of tax professionals today are higher than ever. Alongside having a head for figures, they need a problem-solving mindset, have commercial awareness, and be able to act as a strategic adviser to the business – all the while staying abreast of fast-changing regulatory developments and a shifting economic landscape. For junior tax professionals entering this complex and demanding world, the challenge can be exciting – but the learning curve can be steep.

Tax 52
article thumbnail

Survey Reveals 90% of UK Accountants Charge Between £126 to £400 for a Tax Return  

Accounting Insight

IRIS Software Group , a leading global software provider of accounting, edtech, payroll and HR solutions, today released the results of its anonymous poll of UK-based accountants, conducted during February and March 2024. Accountants responded to 13 multiple-choice questions pertaining to pricing, AML compliance, and cybersecurity confidence. How much do accountants charge across the UK?

article thumbnail

Protect What Matters: Rethinking Finance Ops In A Digital World

Speaker: Cheryl J. Muldrew-McMurtry

Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.