Thu.Apr 18, 2024

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Forbes Top 200 CPAs in America

Withum

I am honored to be included in the first Forbes Top 200 CPAs in America list , and further honored to be alongside three of my Withum partners: Pat Walsh , Bill Hagaman and Jim Bourke. Withum is an extraordinary firm and the fact that 4 of us are included on that list indicates recognition of that. Pat is our managing partner and CEO and only the third person to occupy that role in our 50-year history.

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What Does the DOL’s Proposed Overtime Rule Mean For Your Small Business?

CPA Practice

By Suzanne Lucas, Inc. (TNS) The White House just approved a proposal from the Department of Labor to raise the minimum salary for exemption to $55,068 per year. It’s currently at $35,568 per year , so this is quite a jump. What does this mean for your business? Let’s break it down. Salary exemption Under the Fair Labor Standards Act, employees who work more than 40 hours a week are entitled to overtime.

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Accountants feel more upbeat about global economy

Accounting Today

Accounting and finance professionals are expressing greater confidence about the world economy this year, according to a new survey.

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The Accounting Technology Lab Podcast – Review of Aiwyn – April 2024

CPA Practice

Hosts Randy Johnston and Brian Tankersley, CPA, look at the practice management, billing and collections platform Aiwyn. Use the video player below to watch, or the podcast player below to listen to the podcast. Or use this podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.) Randy Johnston 00:00 Hey, welcome to Technology Lab.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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PwC Announces It’s ‘Aligning Its Organizational Structure’ and Using Fewer BS Words in Job Titles

Going Concern

I wish I’d written this news up hours ago when I got a PR email about it, AT scooped us. Oh well. Here’s the news as it was delivered to me: Today, PwC US’ next senior partner, Paul Griggs, introduced our new leadership team—the Operating Committee. You can learn more about all the leaders here [link to the Our US Leadership Team page on PwC’s website].

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IRS Raids Home of Rapper Tekashi 6ix9ine, Seizes Cars and Other Items

CPA Practice

By Evan Rosen, New York Daily News (TNS) Rapper Tekashi 6ix9ine had several of his cars and other personal items seized from his home in Lake Worth, FL, on Wednesday, as IRS agents and local police raided the residence. A video posted to social media shows several of the vehicles with papers taped to the windshield, identifying Tekashi by his legal name, Daniel Hernández, and claiming that his property was being seized for “nonpayment of internal revenue taxes.

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Employers Start Offering Emergency Savings Fund Benefit Option

CPA Practice

Sandra Block Kiplinger’s Personal Finance Kiplinger’s Money Power Millions of Americans have little or no emergency savings, which leaves them without a cushion if their car breaks down, they fall ill or someone in their household is laid off. Now, though, a growing number of companies are making it easier for workers to set aside funds that will help them weather a financial crisis.

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PwC shakes up US firm

Accounting Today

PricewaterhouseCoopers US is realigning its organizational structure across three lines of service — Assurance, Tax and Advisory — starting in July.

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Boston IRS Agent Charged With Tax Fraud

CPA Practice

By Flint McColgan, Boston Herald (TNS) A Boston IRS agent was indicted on charges that she committed personal tax fraud for years. Ndeye Amy Thioub, 67, of Swampscott, MA, has served as a Boston-based IRS agent out of the IRS’s Large Business and International Division since 2006 and has been a licensed certified public accountant in Massachusetts since 2010, according to an affidavit filed in support of her criminal charges by a fellow IRS agent.

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Tax Fraud Blotter: Severe and widespread

Accounting Today

Speedy decision; trouble in paradise; diplomatic imbecility; and other highlights of recent tax cases.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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What Small Business Owners Should Know About Payroll Analytics 

Patriot Software

Are your employees working too much overtime? Who needs a raise? Are you spending too much money on a department? To get answers to these types of questions, analyze your payroll data. Use payroll analytics to make decisions, avoid overspending on payroll, and verify the accuracy of your payroll.

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Poor cash flow can sink any business

Accounting Today

If an enterprise doesn't accurately measure and manage cash flow effectively, it won't be able to make sound financial decisions for the future.

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The Future of Nonprofit Fundraising: Trends and Predictions

GrowthForceBlog

9 min read A hallmark of any successful organization is adaptability. As a nonprofit leader, you already understand the importance of being aware of the shifting nonprofit landscape and being ready to evolve your strategies and adapt your organization for success.

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RSM Int'l names new CEO

Accounting Today

Ernest John Nedder, a partner and chief strategy officer at RSM US LLP, will be the next CEO of the RSM International network, succeeding longtime CEO Jean Stephens on June 1.

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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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The ADC Team Attends the 2024 EOS Conference

AccountingDepartment

Last week, the AccountingDepartment.com team attended the 2024 Entrepreneurial Operating System (EOS) Conference in San Diego, CA.

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Becoming a remote partner

Accounting Today

The process of becoming a remote partner isn't much different from the traditional path — but it may take a little extra effort.

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Three Quarters of Big 4 Firms Made the Top 20 on LinkedIn’s Top Companies 2024 List

Going Concern

Would ya look at that, another “best companies” list. This time it’s the LinkedIn Top Companies 2024 , released Tuesday. While all four firms have a spot on the list, only three of them can boast that they made the top 20 (of 50). You already know which three it is. Here’s LinkedIn’s pitch: Our 8th annual LinkedIn Top Companies list highlights the 50 best large workplaces to grow your career in the U.S. right now.

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CFPB Small Business Loan Requirements & Your Skagit County Biz

SkagitCountyTaxServices

The 2024 federal tax season has reached its end… well, unless you joined the other 19 million taxpayers and filed for an extension. That’s something we anticipate every year here at Padgett & Padgett, PLLC CPA. And we’ll be working away the next few months on the extensions we filed for our Skagit County clients… albeit after a little rest from our round-the-clock filing labors.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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IR35 – where are we now?

Menzies

Menzies LLP - A leading chartered accountancy firm. What is IR35? The off-payroll working rules, or IR35 as it’s commonly referred to, have been around for some time. The rules exist to ensure that in circumstances where a worker or contractor meets the definition of an employee, that worker pays broadly the same income tax and National Insurance contributions to that of a PAYE employee.

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Avalara's new president to emphasize customer experience

Accounting Today

Ross Tennenbaum said he intends to improve its customer experience, and hinted at an e-invoicing partnership with a blue chip company.

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Only 36% of Not-for-Profits Have Seen an Increase in Funding Following 2022-23 Financial Upheaval

CPA Practice

UHY Advisors has released its 2024 Not-for-Profit Trends Report, which polled over 230 executives within not-for-profit organizations across sectors including healthcare, education, social / community services, and others with annual revenues ranging from less than $250,000 to over $10,000,000. “The not-for-profit industry has been trying to find its feet as disruption continues and global economic conditions remain volatile,” said Brian Kearns, partner and a leader of UHY’s Not-for-Profit pract

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I'm remembering April 19th 1995 today.

Insightful Accountant

This is the day that I rise early and head to the cemetery to remember my friend, Ted L. Allen, who died in the bombing of the Alfred P. Murrah Federal Building in Oklahoma City.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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AICPA Endorses Bipartisan Legislation to Provide Additional Tax Relief to Victims of Natural Disasters

CPA Practice

The American Institute of CPAs has expressed its strong support of H.R. 8007 , the Disaster Tax Lookback Parity Act of 2024 , in a letter to Representatives George Murphy (R-NC) and Jimmy Panetta (D-CA), who are original sponsors of the bill. Taxpayers impacted by disasters typically do not have the benefit of the lookback period for claiming credits and refunds being aligned with a postponed return filing due date, which this legislation would provide for all federally declared disasters.

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3 steps to identify and fix bottlenecks in your firm’s workflow

ThomsonReuters

Jump to: Identify weaknesses in your firm’s workflow Evaluate technology and tools Create and document a new workflow process Evaluating future tax workflow bottlenecks What works today may not work tomorrow. A regulatory change, a workforce-related development, or even technology advancements can easily render your processes outdated or even unworkable.

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AuditBoard Expands Executive Team to Support Continued Rapid Growth

CPA Practice

AuditBoard , a cloud-based platform transforming audit, risk, compliance, and ESG management, has brought on public SaaS company veteran Jeff Harper as Chief Human Resources Officer (CHRO) to help scale the organization and infrastructure, continue to attract and retain exceptional talent, and steward AuditBoard’s award-winning company culture through continued rapid growth.

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Tax attorney: Navigating the nuances of taxation in hybrid work arrangements

ThomsonReuters

While the remote work arrangement has decreased since the end of the COVID-19 pandemic, employers are showing a preference for the hybrid arrangement. Rather than require a full return-to-office schedule, employers are offering employees a hybrid arrangement. The hybrid worker by the numbers A hybrid working arrangement permits employees to work remotely for part of the work schedule.

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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RSM Appoints Ernest Nedder, CPA, as CEO

CPA Practice

RSM, the leading global assurance, tax and consulting provider to the middle market, today announced that Ernest John Nedder will succeed Jean Stephens as the new chief executive officer for RSM International, effective June 1, 2024. Ernest “E.J.” Nedder is currently partner and chief strategy officer for RSM US LLP, where he leads the development, communication, execution and sustainability of the RSM US enterprise strategy, driving digital transformation and a culture of insights-led innovatio

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Nick Couzzi Named to Metro New Jersey Appraisal Institute Board of Directors

Withum

Withum is excited to share that Nick Couzzi , Associate within Withum’s Real Estate Valuation Practice , has been appointed to the Board of Directors of the Metro New Jersey Appraisal Institute. The institute sponsors appraisal education, including courses and seminars that help professionals earn continuing education credits. As a member of the board, Nick will assist in administering these programs.

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With Stock Sliding, Tesla Asks Investors to Pay Musk $56 Million

CPA Practice

By Dana Hull and Anders Melin. Bloomberg News (via TNS) Tesla Inc. will ask shareholders to vote again on the same $56 billion compensation package for Chief Executive Officer Elon Musk that was voided by a Delaware court early this year. In its proxy filing issued Wednesday, Tesla also said it will call a vote on moving the company’s state of incorporation to Texas from Delaware.

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Unlocking efficiency with CoCounsel

ThomsonReuters

Let CoCounsel be your trusted partner Gain unrivaled expertise with GenAI technology to become a pioneer in the tax and accounting industry with CoCounsel. Save time with internal processes Accelerate workflows by relying on generative AI as an efficient research tool. Vet tax positions, tackle questions, and empower junior staff to find answers. Increase productivity Conquer complex tax questions faster than ever.

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.