Thu.Aug 24, 2023

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Sales Tax Compliance - There Is No EASY Button

TaxConnex

Sales tax automation has come a long way since the Quill vs. North Dakota case in 1992. Now, even the smallest multi-state businesses and startups have access to sales tax automation options that lower costs and ease the burden of compliance. AI is even making it’s way into the sales tax world, but how much do you trust an automated bot or machine with your sales tax obligations?

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Managing AI & ChatGPT in the Workplace

BurklandAssociates

We are at a pivotal point in our lives technology-wise. Artificial Intelligence is taking the markets by storm and has become a tool that almost anyone can use with just Read More The post Managing AI & ChatGPT in the Workplace appeared first on Burkland.

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Recruiting and retention in accounting: 'We've got a lot of work to do'

Accounting Today

At the Illinois CPA Society's annual summit, a deep dive into how the profession needs to revamp and revitalize its appeal to potential accountants.

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150 Hours is a Barrier – Really!

Going Concern

By Sharon Lassar, PhD, CPA (Florida) John J. Gilbert Professor and Director of the School of Accountancy, University of Denver A friend asked why I believe the 150-hour requirement is more of a barrier of entry to the accounting profession than a 120-hour requirement with added experience. That is a great question. Although, it does not matter what I think.

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Your Accounting Expertise Will Only Get You So Far: The New Way To Lead

Speaker: Victor C. Barnes, CPA, MBA

In the climb from contributor to leader, the rules quietly change. But 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. 🗻 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. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.

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Taxpayers sue Google, Meta over privacy leaks

Accounting Today

Google and Meta are facing class action suits after revelations they had been collecting sensitive taxpayer information via online filing sites.

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Accounting and the World of AI

Insightful Accountant

Kognitos' Drayton Wade on why it is imperative for accounting firms to adopt Generative AI in a rapidly evolving world.

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Unsatisfied With Her $140k Salary, Law Firm Controller Gave Herself a Raise

Going Concern

In a little law and order news courtesy the Department of Justice, a law firm controller has pleaded guilty this week to inflating her payroll amount by $1.48 million over the course of three years. Her annual salary, her real annual salary, was approximately $140,000. Way to take the fight against low wages into your own hands, lady. The press release courtesy the U.S.

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AICPA asks IRS for better trust forms, guidance on tax credits

Accounting Today

The institute sent comment letters requesting changes in two forms used to report on foreign trusts, and guidance on energy credits and advanced manufacturing investment credits.

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A New Way to Automate with Tipalti Expenses

AccountingDepartment

Tipalti Expenses offers a comprehensive and purpose-built solution to streamline and manage employee-initiated spending and reimbursements, all within a single, efficient system.

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Tax Fraud Blotter: Health care crisis

Accounting Today

Stonewalled; cashing out; trailer trash; and other highlights of recent tax cases.

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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.

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Feature Focus Fridays: New QBO-QuickBooks Time Integration

Insightful Accountant

In this 'Feature Focus Friday,' Murph examines how Intuit is integrating more QuickBooks Time tasks into QuickBooks Online.

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Demystifying the taxation of NFTs

Accounting Today

Tax authorities worldwide are deciding how to tax non-fungible tokens. Now is the time to get clarity on this quickly evolving phenomenon.

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Biggest Accounting Challenges (And Solutions) For Architecture Firms

GrowthForceBlog

7 min read Although it is not your core function, your architecture firm's bookkeeping and accounting department is like its engine. Without healthy finances, your firm cannot operate, and your back office helps to ensure ongoing financial health.

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Was the last meeting you had worth $2,000?

Accounting Today

How many inefficient meetings do we have in which 10 people, each billing out at $100 to $400 an hour, sit around talking about things without having a clear-cut objective or next steps from the meeting?

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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.

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Press Release: Celebrating Growth & Expertise – Matthew Weber Promoted to Principal at KROST

KROST

LOS ANGELES, CA [August 28, 2023] — KROST, a leading CPA and consulting firm, is thrilled to announce the promotion of Matthew Weber to the esteemed position of Principal. Matthew’s dedication, experience, and exceptional contributions have led to this well-deserved advancement within the organization. Matthew Weber, who joined KROST’s tax practice in July 2015, brings Read the full article.

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Tax depreciation 101

ThomsonReuters

Jump to: What is tax depreciation? What is bonus depreciation? How to calculate tax depreciation What are the tax depreciation methods? What is MACRS? Tax depreciation and state-level complexities Managing depreciation of fixed assets Tax depreciation, which enables business clients to reduce the amount of their reported taxable income, may seem straightforward at first glance.

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How To Get QuickBooks Remote Access [Ultimate Guide]

Ace Cloud Hosting

Reliance on traditional on-premises QuickBooks Desktop is often detrimental to businesses. Instances occur when you need to access the accounting application remotely using your preferred devices and assist clients during.

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The Accounts Payable Workflow in QuickBooks: How to Improve the Process

MineralTree

Are you relying on the current accounts payable (AP) workflow in QuickBooks Desktop or Online to manage your financial operations? If so, you’re not alone. The QuickBooks AP workflow includes tasks like invoice receipt, data entry, approval, and payment required to manage AP within the software. However, while these AP workflow tasks in QuickBooks provide basic functionality, it falls short when it comes to advanced features tailored to modern AP.

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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.

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Urge Congress To Delay FinCEN “BOI” Reporting Burden for Small Businesses

Nancy McClelland, LLC

The past few months, we’ve been keeping an eye on a new reporting requirement that will create a massive burden on small business owners. Starting in 2024, millions of small businesses will be required — as part of an anti-money-laundering initiative — to file a “beneficial ownership information” (BOI) report with the Financial Crimes Enforcement Network (FinCEN, a branch of the U.S.

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Expand your Financial Modeling Services

Analytix Finance & Accounting

Financial modeling is an essential part of the forecasting process, as it allows you to estimate the potential of a product, project, or entire business. A financial model will take into account many relevant operational and financial variables, as well as growth and risk assumptions, to interpret their impact on the bottom line. This allows business leaders to better understand numerous factors that are critical to the underlying business endeavor’s success over time.

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Future Forward Fall 2023 is Heading Your Way

Insightful Accountant

Murph provides a peek into some of the training content headed your way in the upcoming 'Future Forward.

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On-Demand Webinar: Top State and Local Tax Challenges for the Healthcare Industry

Withum

Please join James Bartek , Jason Rosenberg and Bonnie Susmano from Withum’s State and Local Tax services team, as they provide an update on key state and local tax issues affecting the healthcare industry. Topics include a discussion of sales/use tax exemptions, sales by Healthcare entities, unclaimed property, SALT workarounds for pass through entities, telecommuting issues, sales sourcing considerations for telehealth businesses, and other state and local trending issues.

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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.

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QuickBooks Pushing Out Updates to Desktop to Resolve Issues

Insightful Accountant

Intuit has been pushing out updates to QuickBooks Desktop in an attempt to resolve issues regarding security certificate rejection impacting Web-connector and SDK 3rd-party applications.

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Strategic Analysis of Client Footprint and Supply Chain to Delivery

Cherry Bekaert

In the dynamic business landscape of today, a strategic analysis of client footprint and supply chain to delivery is crucial for organizations to enhance their competitiveness and drive sustainable growth. We will explore the methodologies and best practices for conducting a comprehensive analysis and how this can lead to informed decision-making and improved operational efficiency.

Tax 52
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Urge Congress To Delay FinCEN “BOI” Reporting Burden for Small Businesses

Nancy McClelland, LLC

The past few months, we’ve been keeping an eye on a new reporting requirement that will create a massive burden on small business owners. Starting in 2024, millions of small businesses will be required — as part of an anti-money-laundering initiative — to file a “beneficial ownership information” (BOI) report with the Financial Crimes Enforcement Network (FinCEN, a branch of the U.S.

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Think Tank Appeals Washington Capital Gains Tax to U.S. Supreme Court

CPA Practice

By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) Washington state enacted a new and controversial capital gains tax two years ago. Critics of the 7% tax on the sale or exchange of certain long-term capital assets argued that it violated the state’s constitution. But after a court battle, Washington’s state Supreme Court upheld the measure as a valid excise tax on the sale of assets.

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How to Set Better OKRs and Drive Results

Before you can achieve success, you have to define it. Objectives and Key Results (OKRs) give you the framework to do just that. Paycor’s free guide includes a step-by-step process leaders can use to work toward – and achieve – their loftiest business goals.

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Understanding the Clean Energy Investment Tax Credit

Withum

Learn about the advantages of the Clean Energy Investment Credit and understand how this credit could impact you and your business. Energy property includes:  Energy Storage Technology (new)  Equipment that uses solar energy to generate electricity, to heat or cool a structure, or to provide solar process heat and equipment that uses solar energy to illuminate the inside of a structure using fiber-optic distributed sunlight  Combined heat and power system (increased credit amount)  Equipment tha

Tax 52
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How Broad is a U.S. Supreme Court Case on Tax Court Filing Deadlines?

CPA Practice

By Joy Taylor, Kiplinger Consumer News Service (TNS) In April 2022, the U.S. Supreme Court sided with a taxpayer who filed a U.S. Tax Court petition one day late to seek a collection due process hearing, ruling the statutory 30 days for filing a petition in a collection due-process case can be waived by a court for equitable reasons. After the company in the above case did not pay a penalty, the IRS sent a notice of determination sustaining a levy.

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State Income Tax Planning Considerations for a Liquidity Event

Withum

For founders who have tirelessly nurtured their companies from inception to success, the prospect of a liquidity event brings both excitement and complexity. As this pivotal moment approaches, residency planning emerges as a crucial consideration. The choice of where to establish one’s residency prior to a liquidity event can have far-reaching implications regarding income taxes and personal financial goals.

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Guidance Provided for Overtime Pay Exempt from Alabama Income Tax

Dent Moses

In June, we reported that the Alabama Legislature passed HB217, which eliminates the 5% withholding tax on overtime from January 2024 through June 2025. Employers are subject to reporting for 2023, 2024 and 2025. Now, the Alabama Department of Revenue has published reporting guidance and FAQs. Historical 2023 overtime data must be submitted by January 31, 2024.

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Automation, Evolved: Your New Playbook for Smarter Knowledge Work

Speaker: Frank Taliano

Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.