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8 min read August 12th, 2024 Most business owners are familiar with two reasons why their businesses need a bookkeeping and accounting function, compliance and taxes. While these are important functions of a back office, your back office has the potential to offer so much more to your business like improving its overall operation, efficiency, productivity, and profits.
The IRS on Aug. 9 unveiled an updated draft version of Form 1099-DA , which cryptocurrency brokers will use to report certain sale and exchange transactions of digital assets that take place beginning in calendar year 2025. Generally, these forms will be sent separately to taxpayers and the IRS in early 2026, the agency said. The fresh draft version of Form 1099-DA , Digital Asset Proceeds From Broker Transactions , comes on the heels of the Treasury Department and the IRS issuing the highly ant
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
In a move set to change practice management for solo accounting and bookkeeping firms, Financial Cents, a leading provider of accounting workflow management software, has announced the launch of its new solo plan. Priced at an unbeatable $9 per month (when billed annually), this plan is designed specifically for solo practitioners who need streamlined, accounting-focused workflow tools without the complexity or cost associated with larger platforms.
Just as we’ve started seeing a handful of interns saying they haven’t received offers from the firm they interned at, this pops up on Xitter: Source: National Association of Colleges and Employers 2024 Internship & Co-op report These figures come from NACE’s 2024 Internship & Co-op report and include responses from 283 organizations, not strictly public accounting.
By David Plajstek, Principal, UHY. Forming an environmental, social, and governance (ESG) strategy can be a resource intensive task given all the areas that it could impact. Luckily, companies with internal audit resources already have in place a valuable contributor to ensuring ESG success. These professionals have many of the requisite technical skills to assist in the formalization of processes and internal controls.
By David Plajstek, Principal, UHY. Forming an environmental, social, and governance (ESG) strategy can be a resource intensive task given all the areas that it could impact. Luckily, companies with internal audit resources already have in place a valuable contributor to ensuring ESG success. These professionals have many of the requisite technical skills to assist in the formalization of processes and internal controls.
“We believe that Australian music is a vital part of life and we want to help musicians make a living from their craft,” shared Kathy Wilson, co-founder of Suitcase Records. The family-run business operates out of Brisbane, Australia, and aims to support local musicians by providing a more sustainable PVC compound to produce high-quality vinyl records.
Small business owners still waiting for their pandemic-era Employee Retention Credit (ERC) payments got good news and bad news from the IRS on Aug. 9. The good news is the IRS said it’s accelerating payments to businesses that had submitted legit claims for the tax credit and will now begin processing claims filed between Sept. 14, 2023, and Jan. 31, 2024.
Top 200 accounting firm Honkamp merged in Brems Group, a CPA firm with offices in Cedar Rapids and Coralville, Iowa, effective Aug. 1. Financial terms of the deal weren’t disclosed. After the merger, Brems Group leaders Jim Brems, Brian Coller, and John Warren, as well as their 20 or so employees, will continue to serve their current clients from those two offices, Honkamp said in a media release.
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
Top 200 accounting firm Yeo & Yeo CPAs & Advisors has expanded its presence in the Southeast Michigan region by combining with Bloomfield Hills-based firm Berger, Ghersi & LaDuke (BGL), effective July 1. As part of the deal, BGL partners Alan LaDuke, David Berger, and Jim McAuliffe have joined Yeo & Yeo’s principal group. In addition, BGL’s team of nine accounting and administrative professionals have joined the Saginaw, MI-based firm.
The SEC charged electric vehicle company Ideanomics and three of its executives with fraud for misleading the public about its financial performance from 2017 and 2019.
Contributors: Trevor Nelson | Strategic Financing Services Manager, Joe Hennessee | Strategic Financing Services Senior Manager The federal New Markets Tax Credit (NMTC) program provides funding to sponsors who make qualified investments in businesses or projects located in designated low-income communities. For manufacturers, this program offers a compelling value proposition – a savings of up to 20% of the total project cost.
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.
What’s up, newshounds? Everyone good? I hope so. Don’t want to hold you up so let’s get right to it. Computerworld interviewed Ken Englund, Technology Sector Growth Leader at EY Americas. Headline: EY exec: In three or four years, ‘we won’t even talk about AI’ Why do you think this has been one of the most unique hiring periods over the past decade or so, and how has AI affected that lately?
It has been 7 years since the introduction of Goods and Service Tax and limitations under Section 73 have commenced from September 2023 onwards for FY 2017-18. In the initial year, a Show Cause Notice in Form GST DRC-01 was issued on various grounds such as Difference in Tax liability declared in GSTR-1 and GSTR-3B, Difference in ITC Claimed , ITC liable for reversal concerning exempted supplies, and many others.
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.
It has been 7 years since the introduction of Goods and Service Tax and limitations under Section 73 have commenced from September 2023 onwards for FY 2017-18. In the initial year, a Show Cause Notice in Form GST DRC-01 was issued on various grounds such as Difference in Tax liability declared in GSTR-1 and GSTR-3B, Difference in ITC Claimed , ITC liable for reversal concerning exempted supplies, and many others.
Republican vice presidential candidate JD Vance floated more than doubling the Child Tax Credit, seeking to reframe a "pro-family" stance that has come under attack.
It has been 7 years since the introduction of Goods and Service Tax and limitations under Section 73 have commenced from September 2023 onwards for FY 2017-18. In the initial year, a Show Cause Notice in Form GST DRC-01 was issued on various grounds such as Difference in Tax liability declared in GSTR-1 and GSTR-3B, Difference in ITC Claimed , ITC liable for reversal concerning exempted supplies, and many others.
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.
If you believe you're a QuickBooks Social Media Rock Star or Social Media Mogul, then Murph wants to help ensure you maximize your Top 100 Award potential.
Enterprise Resource Planning (ERP) systems are the backbone of modern businesses. But with the rapid evolution of technology, the need to future-proof ERP systems has become paramount and necessary. The adage kicking the can down the road will only worsen the situation. Whether you are planning to implement an ERP software or seeking to optimize your current system, understanding how to leverage next-generation AI can significantly enhance your ERP evolution.
As we navigate the complexities of the modern tax landscape, one thing becomes increasingly clear: technology is no longer just an asset; it's a necessity. The tax industry is undergoing a digital revolution, and staying ahead is crucial.
On August 8 th , 2024, the Internal Revenue Service announced it is accelerating more payments and continuing compliance work on outstanding ERC claims. It’s estimated between that 10% and 20% of the unprocessed ERC claims show a low risk of noncompliance. For those with no eligibility warning signs that were received prior to last fall’s moratorium, the IRS will resume processing.
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.
There's always an exception to the rule. And there's always an exception to the exception! It’s one thing to master routine bookkeeping techniques, but it’s completely something else to use QuickBooks for rare business transactions.
From a single grow light in his Bay Area garage to running a vertically integrated cannabis business in the highly competitive Michigan market, Willie McKenzie has been on a bumpy ride. Going on his eleventh consecutive season as an outdoor grower, the CEO of Left Coast Holdings initially faced daunting challenges when trying to move from the legacy to the regulated market: “In California, I had four medical farms, I couldn’t license them,” he recounts.
Divorce and child support cases often are highlighted by disputes over money. One party may be accused of artificially depressing earnings, hiding assets or manipulating the finances to lower the financial obligation to another party. Understanding the complete picture of the finances is necessary before a fair settlement can be reached. Chicago divorce attorney Jeffrey [.
Top 20 accounting firm EisnerAmper announced its largest new partner class in the firm’s history on Aug. 1, with nine joining the partnership at EisnerAmper LLP and 14 added to the partnership at Eisner Advisory Group. EisnerAmper is comprised of EisnerAmper LLP, a licensed independent CPA firm that provides client attest services, and Eisner Advisory Group LLC, an alternative practice structure that provides business advisory and non-attest services to clients.
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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