Accounting Today

SEPTEMBER 20, 2024

Rev. Proc. 2019-48 lays out the new rates for taxpayers who don't want to substantiate their actual expenses.

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Tax 133

MyIRSRelief

SEPTEMBER 20, 2024

Navigating the IRS appeals process can be daunting, but understanding the steps involved and knowing how to effectively present your case can significantly improve your chances of a favorable outcome. This comprehensive guide will walk you through the IRS appeals process, detailing each step and explaining how our representation tax firm can assist you.

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Tax audit cpas Maine 130

Accounting Today

SEPTEMBER 20, 2024

The cuts include roughly 240 employees in RSM's consulting businesses, and come as demand for the profession's consulting services wanes.

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Going Concern

SEPTEMBER 20, 2024

A tipster let us know about some layoffs going down at RSM this morning: There are a large amount of layoffs going on at RSM, specifically in the D365 practices, Risk Cyber Security, and MC (management consulting practices). Meetings were scheduled yesterday via Webex, not MS Teams, which is interesting as the firm uses MS Teams for all communications.

Management Consulting 111

Management Consulting Maine audit 111

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

Accounting Today

SEPTEMBER 20, 2024

The unexpected demise of an audit firm proved a boon for many small auditors.

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audit auditor 126

Randal DeHart

SEPTEMBER 20, 2024

Your to-do list is often long and constantly growing longer when you're an entrepreneur. There are a lot of things you need to do, and it can feel like they're all urgent. In such cases, it's easy to push essential tasks to the side and focus on less vital activities, but that often means you miss deadlines, make mistakes, or always feel like you're trying to catch up.

Construction 110

Construction Account accounted accountant 110

CTP

SEPTEMBER 20, 2024

Client Advisory Services (CAS) have emerged as a crucial offering for accounting firms, evolving the traditional client-accountant relationship into a more strategic partnership. Defined by the AICPA as services where practitioners provide findings, conclusions, and recommendations to aid in client decision-making, CAS encompasses far more than mere compliance.

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tax planning Tax CPA accounting firms 98

Dent Moses

SEPTEMBER 20, 2024

Earlier this year, we wrote about beneficial ownership information (“BOI”) reporting requirements of the Corporate Transparency Act (“CTA”) signed in to law in January 2021. Click this link to see the original post. In Q4 of 2023 and Q1 of 2024, congressional leaders and professional associations made efforts to extend the deadline to make the initial and annual filings.

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cpa firm Legal CPA Tax 98

Accounting Today

SEPTEMBER 20, 2024

The International Accounting Standards Board has begun a public consultation on proposed amendments to IFRS to account for investments in associates and joint ventures.

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international accounting standards accounting standards accountant Account 81

Going Concern

SEPTEMBER 20, 2024

Today’s quote of the day comes from a post on r/KPMG: Things feel worse than ever OP says: I’ve been working here a year in an office in New York and we had a call yesterday that went terribly. I believe the call was supposed to just be a tech training but it devolved into discussion over why this year was the way it was. The biggest offender was a partner who explained the new PTO change as “now we don’t have to pay people out when they leave which is just good business let’s be real” lik

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public accounting New York accountant Account 75

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Accounting Today

SEPTEMBER 20, 2024

The Treasury Department's Financial Crimes Enforcement Network has created an online toolkit to help small business owners comply with the new beneficial ownership reporting requirements.

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Account accounted accountant 75

Withum

SEPTEMBER 20, 2024

I have a treasure trove and didn’t realize it! Earlier this week, I wanted to see a copy of the NY Times for the day I was born as I was looking for content for a speech I will be presenting. I contacted my local public library to see if they had access to past issues. I was told they do not, but the Rutgers Library has access, and the copy can be viewed digitally with a Rutgers ID.

New York 59

New York Tax 59

Accounting Today

SEPTEMBER 20, 2024

Trullion offers AI-powered cloud audit suite; april tax solution now covers all 50 states; Workday announces new initiatives, investments and a wellness solution; and other accounting technology news.

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audit Technology Tax accountant 75

Ace Cloud Hosting

SEPTEMBER 20, 2024

Cybersecurity experts believe misconfiguration is the biggest threat to cloud security. Exfiltrating sensitive data and insecure interfaces/APIs are also major concerns, while unauthorized access is another significant risk. Encryption and.

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Accounting Today

SEPTEMBER 20, 2024

NASBA selects executive vice president; KPMG releases 2024 CEO Outlook Survey; and more news from across the profession.

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Withum

SEPTEMBER 20, 2024

Download a PDF of this case study. Executive Summary A telecommunications company client was grappling with a unique set of challenges. These included consolidating reporting, limited data visibility, non-standardized practices and manual and undocumented processes. These issues were causing delays in decision-making, time-consuming month-end processes, data entry errors and increased costs.

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quickbooks Technology NetSuite Healthcare 52

Accounting Today

SEPTEMBER 20, 2024

Prosecutors alleged Robert Brockman controlled Point, a Bermuda-based entity, and used it to engage in the largest tax-evasion scheme by an individual in U.S. history.

Tax 69

Tax 69

LSLCPAs

SEPTEMBER 20, 2024

What to Expect from October 1, 2024 and Beyond Updates to Notices of Funding Opportunities (NOFOs) Key Definition Updates Clarification on Fixed Amount Awards and Contracts Section 200.201 New Section 200.217: Whistleblower Protections Internal Controls and Cybersecurity Section 200.303 Clarification on Program Income Section 200.307 Equipment Threshold Increased Section 200.313 Supplies Threshold Increased Section 200.314.

cpas 52

cpas Government 52

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.

Account

ThomsonReuters

SEPTEMBER 20, 2024

Jump to ↓ The challenges of an outdated indirect tax workflow What are the benefits of implementing indirect tax software? Steps to making a compelling business case for tax software adoption How tax software aligns with digital transformation strategies Embracing technology for long-term success One of these solutions is indirect tax software , which can significantly elevate workflows by improving efficiency, reducing errors, and ensuring better compliance.

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Technology Tax Gaming audit 52

Randal DeHart

SEPTEMBER 20, 2024

Your to-do list is often long and constantly growing longer when you're an entrepreneur. There are a lot of things you need to do, and it can feel like they're all urgent. In such cases, it's easy to push essential tasks to the side and focus on less vital activities, but that often means you miss deadlines, make mistakes, or always feel like you're trying to catch up.

Construction 52

Construction Account accounted accountant 52

CPA Practice

SEPTEMBER 20, 2024

CPA firms constantly seek ways to boost efficiency, enhance client satisfaction, and drive growth. While technology and strategies play crucial roles, one often overlooked element can be the key to unlocking your firm’s full potential: document management. Because it can be difficult to know if or when you need a new document management solution, IRIS wants to provide you with a checklist of ten red flags you can look for in your firm.

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Rhode Island West Virginia South Dakota North Dakota 52

Canopy Accounting

SEPTEMBER 20, 2024

Task Templates are a Blueprint for Success Accounting efficiency and consistency are the keystones of client satisfaction and team productivity. Workflow automation, specifically through task templates, offers a robust solution to streamline processes across your team. Templates standardize repeatable processes and ensure that tasks are evenly distributed and managed, regardless of the team members involved.

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accountant Account accounted 52

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.

Finance

Withum

SEPTEMBER 20, 2024

Dependent eligibility stands as a pivotal subcomponent within the broader eligibility process of any health plan. Given that dependents are typically not employees of the plan sponsor, meticulous gathering of key demographic and relevant information is paramount during the enrollment process. To strengthen the integrity of dependent eligibility, it is advisable for the plan administrator to procure supporting documentation before adding a dependent to the plan.

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audit 59

Menzies

SEPTEMBER 20, 2024

Menzies LLP - A leading chartered accountancy firm. This Autumn Budget will be announced against a backdrop of plateaued economic growth, diminishing living standards and above target inflation. With a recent change in Government promising to fill the tax gap, the Prime Minister has warned the budget will be “painful”. So, what might the new Labour Government announce as part of the “painful” budget, and will it strike the right balance between remaining optimistic while attempting to resolve th

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tax services Tax income tax Agriculture 59

Going Concern

SEPTEMBER 20, 2024

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.

accounting and finance 105

accounting and finance auditor Technology Construction 105

ThomsonReuters

SEPTEMBER 20, 2024

Jump to ↓ The need for stronger penalties Key provisions of the Taxpayer Data Protection Act Protecting taxpayers’ privacy Ensuring stronger protections for taxpayer data The Taxpayer Data Protection Act , recently passed by the House of Representatives, represents a significant legislative effort to fortify the penalties associated with the unauthorized disclosure of such information.

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New York Tax Legal Account 52

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.

Finance

Accounting Today

SEPTEMBER 20, 2024

In his meeting, Vance touted Trump's pledges to lower taxes and argued for the Republican nominee's tariff policies.

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