Canopy Accounting

DECEMBER 8, 2023

Last year, roughly 50.5 million Americans quit their jobs to take new positions and 73% of employers are having difficulty attracting staff. Clearly, the accounting industry has been affected by this rapid resignation of employees–despite having the third lowest turnover rate in the nation. Many accounting firms have struggled to attract and retain top talent and are revamping benefit offerings and increasing salaries to fill open positions.

accounting firms 52

accounting firms accounted Account accountant 52

Withum

DECEMBER 8, 2023

The Internal Revenue Service (IRS) is continuing its crack down on dubious claims for the employee retention credit (ERC), a refundable tax credit for certain businesses that paid employees during the COVID-19 pandemic. On December 6, 2023, the IRS issued a press release announcing that it would be sending more than 20,000 letters to taxpayers notifying them of disallowed ERC claims, either because their entities did not exist during the ERC eligibility period or because they did not have employ

tax preparation 126

tax preparation audit Tax 126

Accounting Today

DECEMBER 8, 2023

The Internal Revenue Service's Independent Office of Appeals hopes to improve taxpayer service next year and improve the experience of its workforce.

Tax 121

Tax 121

Randal DeHart

DECEMBER 8, 2023

As the year comes to a close, it's important to start thinking about your bookkeeping tasks to ensure a smooth transition into the new year. Deadlines are fast approaching, but it doesn't have to be stressful. Have you given your bookkeeper, wife, partner), accountant or tax accountant, what information is needed to complete your reports? Accountants need good information to create detailed reports and save money on your taxes.

bookkeeping 111

bookkeeping Construction tax accountant Tax 111

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Accounting Today

DECEMBER 8, 2023

President Joe Biden's son Hunter was indicted on nine federal tax charges in a development that will become a political headache for the White House and Democrats as the 2024 campaign ramps up.

Tax 120

Tax 120

ThomsonReuters

DECEMBER 8, 2023

As technology has evolved, so too has the accounting profession. From paper-based processes to cloud-based software, accountants are no strangers to change. No previous advancement, however, has had the potential to alter accounting (and many other industries) quite like generative artificial intelligence. But for those who embrace AI, there is a strategic opportunity to capitalize on its many benefits while protecting and even uplifting the irreplaceable human connection.

accounted 108

accounted Account accountant Technology 108

GrowthForceBlog

DECEMBER 8, 2023

10 min read No business is safe from a difficult economy.

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108

Accounting Today

DECEMBER 8, 2023

The IRS is sending 20,000 disallowance letters, with more action and a voluntary disclosure program coming.

Tax 104

Tax 104

ThomsonReuters

DECEMBER 8, 2023

Jump to: How AI is transforming audit AI-Assisted Decision Making in Thomson Reuters Cloud Audit Suite Ready to transform audit? How AI is transforming audit Traditionally, auditors have heavily relied on manual processes to uncover risk in financial statements and business operations. This approach, while effective to a certain extent, is time-consuming and vulnerable to human error.

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audit auditor financial statements Technology 98

Accounting Today

DECEMBER 8, 2023

With steep civil penalties of up to $500 per day for each day a BOI report is late, business owners will want to make sure they get theirs in on time.

accounted 95

accounted Account accountant 95

Speaker: Gerald Ratigan

The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.

Account

Going Concern

DECEMBER 8, 2023

SEC Chief Accountant Paul Munter was interviewed by WSJ ‘s Mark Maurer the other day and his comments about firm culture are worth paying attention to if you’ve been tempted to speedrun internal exams lately. Asked about his vocal stance on the importance of firm culture in maintaining professionalism — which includes independence — and if there are any particular cases that make firm culture a priority now, Munter referenced numerous “troubling things” on the

public accounting 58

public accounting audit accounted Account 58

Accounting Today

DECEMBER 8, 2023

Accounting Today has issued a call for submissions for its 2023 Top New Products report.

accounted 77

accounted Account accountant Technology 77

CPA Practice

DECEMBER 8, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, discuss a new regulatory change coming in 2024, and what firms need to know and do for their clients. Use the podcast player below to listen. Transcript (Note: There may be typos due to automated transcription errors.) SPEAKERS Randy Johnston, Brian F. Tankersley, CPA.CITP, CGMA. Welcome to the technology lab presented by CPA practice advisor with your hosts, Randy Johnston and Brian Tankersley.

Technology 52

Technology tax return CPA cpas 52

Accounting Today

DECEMBER 8, 2023

The unemployment rate declined two-tenths of a point to 3.7% in a sign of a strong economy despite high interest rates.

accounted 74

accounted accountant Account payroll 74

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

accounting and finance

Menzies

DECEMBER 8, 2023

Menzies LLP - A leading chartered accountancy firm. Explore the vital changes that are needed to fuel prosperity in the Food & Drink industry – with insights that go beyond November’s Autumn Statement. November’s Autumn Statement earmarked £4.5bn for key manufacturing sectors, and some beneficial changes to tax reliefs and full expensing.

Manufacturing 52

Manufacturing Government Agriculture chartered accountant 52

Accounting Today

DECEMBER 8, 2023

Business leaders who are also CPAs are unsure about the direction of the U.S. economy next year.

CPA 71

CPA cpas accounted Account 71

Menzies

DECEMBER 8, 2023

Menzies LLP - A leading chartered accountancy firm. What is it? The Carbon Border Adjustment Mechanism (CBAM) will impact all exporters of certain relevant products and EU importers, where the import of steel and aluminium, fertiliser, concrete, hydrogen and electricity, must be tracked. Why? The CBAM is part of the concept of carbon pricing and the EU’s aim of being the first ‘green continent’, by imposing regulation on EU businesses, to encourage decarbonisation.

chartered accountant 52

chartered accountant accounting firms Tax accounted 52

Accounting Today

DECEMBER 8, 2023

Ledgible improves transaction table; Wolters Kluwer's emissions reduction targets validated by SBTi; and other updates from the accounting technology world.

Technology 61

Technology accounted Account accountant 61

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

Tax

Menzies

DECEMBER 8, 2023

Menzies LLP - A leading chartered accountancy firm. The government ​​published the final version of its Border Target Operating Model (TOM) earlier this year, confirming that from 31‌‌‌ ‌‌January 2024, certain goods will be subject to full customs controls when moved directly from Irish ports to Great Britain (GB). Where goods are imported directly from Ireland into GB, ​​not moving from or through Northern Ireland (NI), import processes will need to be undertaken.

chartered accountant 52

chartered accountant accounting firms Government Transportation 52

Accounting Today

DECEMBER 8, 2023

Rosen, Sapperstein and Friedlander, a Regional Leader based in Towson, Maryland, is buying MBA, a firm based in Cockeysville.

Maryland 55

Maryland 55

CPA Practice

DECEMBER 8, 2023

Ensuring Success, the largest live-streamed CPE conference for accounting and tax professionals, was held December 6-7, providing these financial and tax advisors the opportunity to complete their credential requirements, and also offering strategies for developing firm growth opportunities and strategies to better serve their clients. More than 3,300 registered for this year’s event, which was the 10th anniversary of Ensuring Success.

E-commerce 49

E-commerce accounted Account accountant 49

Accounting Today

DECEMBER 8, 2023

Brown Schultz Sheridan & Fritz renames firm; Weaver moves into new Texas office; and more news from across the profession.

Texas 55

Texas 55

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Account

Going Concern

DECEMBER 8, 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.

cpas 117

cpas accounted Account accountant 117

Accounting Today

DECEMBER 8, 2023

A prominent NYU accounting professor who is being paid to testify in Donald Trump's defense in a civil fraud trial heaped praise on the former president's financial records for hours under oath.

accounted 55

accounted Account accountant 55