Mark Lee
MAY 7, 2024
Not all accountants believe all of these fallacies. And some have been part of our psyche for so long we think they must be true. Others are repeated by salespeople and consultants who want you to believe stuff so that you’ll buy what they’re selling. But a salesperson’s assertions are not proof. Here are the 10 fallacies I recommend you do not accept at face value or repeat without first clarifying ther true position.
TaxConnex
MAY 7, 2024
There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Leveling the field. A bill that would raise the online sales tax in Alabama is progressing with state lawmakers. The current Alabama sales tax is 8% for online purchases, the same as for purchases at the state’s brick-and-mortar stores.
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BurklandAssociates
MAY 7, 2024
Mitigate financial risks at your startup and help ensure a smooth path towards sustainable growth and long-term success with these tips. The post Protect Your Startup’s Finances: 12 Proactive Risk Management Tips appeared first on Burkland.
Accounting Today
MAY 7, 2024
They say artificial intelligence will change the world, and in many ways, it already has. But AI's rapid advancements have been a source of stress for professionals like accountants. Will you be automated out of a job?
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
CPA Practice
MAY 7, 2024
During testimony before a House Appropriations subcommittee on May 7, IRS Commissioner Danny Werfel said almost $400 million in unpaid employee retention credit (ERC) claims have been withdrawn by taxpayers since the agency put a moratorium on processing new claims last September. In addition, Werfel told lawmakers on the panel that the IRS has received $777 million from businesses that voluntarily returned the tax credit after being found ineligible.
Accounting Today
MAY 7, 2024
Accounting Today's annual selection highlights some of the most cutting-edge practices in the country.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Accounting Today
MAY 7, 2024
For CPAs who aspire to practice in Tax Court, the ability to review a case that has been litigated by a fellow CPA is a useful educational tool.
Cherry Bekaert
MAY 7, 2024
In the most recent episode of Cherry Bekaert’s Tax Services podcast, we focus on the Virginia pass-through entity tax (PTET) election. Join Cathie Shaw , partner at Cherry Bekaert, and Tony Konkol , State and Local Tax Manager, as they navigate the intricacies of this important topic. The Virginia PTET election is a crucial consideration for businesses operating in the state.
Accounting Today
MAY 7, 2024
The Public Company Accounting Oversight Board sanctioned three auditors from Florida accounting firm Liggett & Webb for violations involving audit evidence, professional skepticism, and other matters.
Insightful Accountant
MAY 7, 2024
Insightful Accountant is proud to announce our Top 50 International ProAdvisors for 2024. Congratulations to this year's International award recipients.
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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
Accounting Today
MAY 7, 2024
At the BDO Alliance's Evolve conference, leaders in the profession lay out the highs and the lows of the current moment.
Going Concern
MAY 7, 2024
In its desperate quest to appear as though it does something of value to capital markets, the PCAOB is considering putting company names to inspection report deficiencies according to a recent story by Wall Street Journal. Currently, the PCAOB refers to clients as Issuer A, B, C etc. and includes only the client’s industry. Here’s an example from KPMG’s sketchy 2022 PCAOB inspection report : A Part IA deficiency like the one in the screenshot above is of such significance that
Accounting Today
MAY 7, 2024
It's crucial to understand the significant impact businesses have on the environment — and accounting for carbon emissions is a fundamental step in this process.
CPA Practice
MAY 7, 2024
While the April 15 tax deadline for most Americans to file their individual annual tax returns has passed, there are several deadlines each year, some for individuals, businesses, nonprofits and even organizations that are tax-exempt. The next major deadline on the calendar is May 15, 2024, is for tax-exempt organizations that follow a calendar year (Jan-Dec) reporting period.
Advertiser: Paycor
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Insightful Accountant
MAY 7, 2024
During the upcoming Insightful Accountant Future Forward Event Murph will be presenting two sessions on Migrating from QuickBooks Desktop. One focuses on apps suitable for QBD Pro users, and the other QBD Premier users.
Withum
MAY 7, 2024
Empower your manufacturing business with efficiency, quality and innovation. We’ve put together a guide, designed to serve as your roadmap to getting started with AI and successfully leveraging its full potential. After all, AI is more than just Copilot or ChatGPT. In the guide, we explore real-world applications of AI and Machine Learning (ML) and offer actionable insights into leveraging AI to optimize business processes, contain costs and maximize human capital.
CPA Practice
MAY 7, 2024
The Great Resignation saw workers quit their jobs in droves—but many are now regretting it. A new survey of U.S. workers reveals those who changed jobs since the pandemic are significantly less satisfied with their jobs than their colleagues who stayed. What’s causing job hoppers to regret their decision? The Conference Board survey found that leadership and culture saw the greatest gaps in satisfaction between the job switchers and job stayers.
Going Concern
MAY 7, 2024
h/t Consulting.com.au Deloitte Digital, in partnership with the International Olympic Committee (IOC), has produced a video to get everyone excited about the 2024 Summer Olympics in Paris and remind us why Deloitte was chosen to be Flavor Flav to the IOC’s Public Enemy. GET HYPED. Highlighted in the video are Sarah Attar, Saudi Arabia’s first female Olympic athlete; Natalie Du Toit of South Africa, the first amputee to compete in Olympic swimming; Abdellatif Baka, a visually impaired
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.
Cherry Bekaert
MAY 7, 2024
The Build America, Buy America Act (BABA) provides federal financial assistance to award recipients domestic manufacturing and infrastructure. Understanding who qualifies and how to apply may be confusing, but Cherry Bekaert’s Risk & Accounting Advisory professionals are here to help. Please read our FAQs below to learn more about the BABA Act and how it might affect your organization.
Withum
MAY 7, 2024
The Internal Revenue Service (IRS) again postponed Required Minimum Distribution (RMD) rules for certain taxpayers owning inherited retirement accounts. The announcement delays mandatory distributions for these taxpayers that were previously expected to begin in 2024 and continue until 2025. Prior to 2020, beneficiaries of inherited retirement accounts were generally able to withdraw the balance of these accounts over their lifetime.
Cherry Bekaert
MAY 7, 2024
Background A mid-sized construction firm (the Company) with a diverse project portfolio, faced challenges managing its financial processes using manual, paper and Excel-based methods, and QuickBooks. As the Company expanded, these legacy systems struggled to keep pace with the increasing complexities of its financial operations. In response, the Company opted to implement Sage Intacct , a cloud-based financial management solution.
Withum
MAY 7, 2024
Physician compensation is a complex topic that must consider fair market value (to comply with regulatory standards for the Anti-Kickback Statute and Stark Law), budgetary and financial constraints, and the overall contentment of the physician receiving the compensation package. According to the 2024 Medscape Physician Compensation Report, physician compensation rose by 3%, on average, in 2023.
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.
Accounting Today
MAY 7, 2024
Wolters Kluwer's tax, accounting and audit research solution now has generative AI capacities.
Withum
MAY 7, 2024
When equity investments are valued at fair value, fair value needs to be measured based upon the requirements in Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurement. The Financial Accounting Standards Board (“FASB”) noticed diversity in practice related to applying a discount to the price of an equity security that is subject to a contractual sale restriction.
Accounting Today
MAY 7, 2024
Rescheduling cannabis; the outsourcing question; medical deductions in retirement communities; and other highlights from our favorite tax bloggers.
CPA Practice
MAY 7, 2024
More U.S. microbusinesses are using generative artificial intelligence (GenAI) to grow and compete, with 50% of owners and operators recently surveyed indicating they have tried Gen AI tools in the past few months. The findings come from GoDaddy’s international research initiative, Venture Forward, which quantifies the economic impact of small businesses and explores their owners’ experiences, challenges and ambitions.
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.
Ace Cloud Hosting
MAY 7, 2024
Tax season can be daunting for many, especially freelancers and independent contractors who navigate various tax forms. Among these forms, the 1099-MISC (Miscellaneous) and 1099-NEC (Nonemployee Compensation) are commonly used.
CPA Practice
MAY 7, 2024
Savannah, GA-based Hancock Askew & Co. said on May 6 that fellow Georgians, Willeford Group, a Roswell-based CPA practice that specializes in providing accounting and tax services to clients in the dental industry, has merged with the top 200 accounting firm. Financial terms of the deal weren’t disclosed. As part of the transaction, Willeford Group owner Kate Willeford will join as partner, while the entire Willeford Group staff will become team members at Hancock Askew and work in the firm’
LSLCPAs
MAY 7, 2024
As more Americans are facing their retirement years, lots of people are a-buzz over Roth accounts. The beauty of all retirement accounts is that your earnings grow tax free until you withdraw the funds in retirement. The uniqueness of the Roth option is that those earnings will not be taxed upon withdrawal. However, to get. The post Planning for Your and Your Family’s Future?
CPA Practice
MAY 7, 2024
April witnessed a steep decline in U.S. farmer sentiment, as indicated by the Purdue University/CME Group Ag Economy Barometer , which fell 15 points from March to a reading of 99. Both subindexes of the barometer also saw declines: The Current Condition Index dropped by 18 points to 83, while the Future Expectations Index fell by 14 points to 106. April marked the lowest farmer sentiment reading since June 2022 and the weakest current condition rating since May 2020.
Advertiser: Paycor
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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