Accounting Today
JULY 5, 2023
CPA firms have been recruiting more people without accounting degrees and backgrounds as a way to fill their open jobs while expanding diversity in their workforce.
CPA Practice
JULY 5, 2023
By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) There’s a new IRS scam to watch out for. Some people are receiving cardboard envelopes in the mail containing the IRS masthead and the wording: “in relation to your unclaimed refund.” Monday, the agency warned that the mailings are a scam to trick taxpayers into providing sensitive information to thieves.
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TaxConnex
JULY 25, 2023
If you’re a telecommunications services company, you face greater trials than other businesses when complying with federal, state and local jurisdictions. In addition to state and local taxes, your business may also be subject to various federal and state regulatory obligations. Federal regulatory obligations are administered through Universal Services Administrative Company (USAC) and state regulatory requirements are administered through the Public Service Commissions (PSC) or Public Utility C
RogerRossmeisl
JULY 16, 2023
You may think you don’t need to make any estate planning moves because of the generous federal estate tax exemption of $12.92 million for 2023 (effectively $25.84 million if you’re married). However, if you have significant assets, you should consider establishing a living trust to avoid probate. Probate is a court-supervised legal process intended to make sure a deceased person’s assets are properly distributed.
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Companies are increasingly choosing to automate their month-end close process, hoping to get rid of manual activities, save time, and get control of the close. By allowing technology to take the wheel, finance leaders can streamline and optimize the close, leading to greater accuracy, reduced risk, and improved efficiency. This being said, it can still be difficult to find the best month-end close solution for your team.
Going Concern
JULY 11, 2023
The Wall Street Journal wrote today about recent disclosures made by Advance Auto Parts, Joby Aviation, and Germany’s Evotec that specifically point to a lack of accounting staff as a contributor to or sole factor causing certain material weaknesses. It seems we are entering the “find out” phase of FAFO, the FA being shitty pay (and to a lesser extent, decades of ineffective recruiting strategies).
Insightful Accountant
JULY 2, 2023
Effective Aug. 1, 2023, the noted thought leader will take the reins of the North American independent membership association of leading mid-market technology professionals, consultants and product/service providers.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
JULY 5, 2023
By Mia Gindis, Bloomberg News (TNS) A recent study of students attending four-year colleges and universities in 2022 found that two-thirds of the graduating male respondents received paid internships compared to less than half of women, despite women representing 70% of the 2,140 seniors surveyed. The research, conducted by the National Association of Colleges and Employers, is in line with other findings from previous years, suggesting that undergraduate work experiences might set the stage for
Withum
JULY 31, 2023
As businesses across the United States celebrated National Intern Day, Withum interns took to their communities to engage with local organizations and volunteer at nonprofits nationwide. Over 120 interns from 18 offices volunteered 225 hours over the week of July 24. Four of the offices chose to volunteer with their local Boys and Girls Club chapters, spending time with the children at the club, organizing activities and speaking about the transition from high school to college and starting a ca
RogerRossmeisl
JULY 16, 2023
If you and your employees are traveling for business this summer, there are a number of considerations to keep in mind. Under tax law, in order to claim deductions, you must meet certain requirements for out-of-town business travel within the United States. The rules apply if the business conducted reasonably requires an overnight stay. Note: Under the Tax Cuts and Jobs Act, employees can’t deduct their unreimbursed travel expenses on their own tax returns through 2025.
Going Concern
JULY 3, 2023
We had to go way back in the archive for this image. In a LinkedIn post on Friday , Becker superinstructor and the man single-handedly propping up the coffee shop industry Peter Olinto announced that he is leaving Becker. “I am NOT RETIRING!!” he said in a follow-up comment. He writes: Hello LinkedIn connections and current/former students.
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"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.
Insightful Accountant
JULY 5, 2023
In this second part of Murph's mini-series on "clues to Top 100 from 2023 Aware Recipients', he provides valuable insight into how maximized 'App engagement' is the key to scoring in many different award categories.
Accounting Today
JULY 25, 2023
The International Organization of Securities Commissions officially approved sustainability and climate disclosure standards from the International Sustainability Standards Board.
CPA Practice
JULY 6, 2023
Private sector employment increased by 497,000 jobs in June and annual pay was up 6.4 percent year-over-year, according to the June ADP National Employment Report produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab. The jobs report and pay insights use ADP’s fine-grained anonymized and aggregated payroll data of over 25 million U.S. employees to provide a representative picture of the labor market.
Anders CPA
JULY 31, 2023
Wednesday, August 30 at 10:00am CT Has your financial institution updated its flood insurance procedures to reflect the revised and expanded interagency Q&As? A year after the updated Q&As were released, we’re taking a deep dive into which revisions clarified gray areas and which have introduced new policy complications that must be properly understood in order to comply with the regulation.
Advertiser: Paycor
These calendars provide pay period dates and paydays for biweekly, semi-monthly, and monthly payroll in 2024. Use them as a reminder or share with employees so they can celebrate payday.
RogerRossmeisl
JULY 16, 2023
If you’re considering buying a company, fraud may be the last thing on your mind. Unfortunately, you can’t afford to ignore the possibility that your acquisition target is hiding something — possibly something that will have negative financial and legal implications after the deal is complete. To ensure the transaction is what it appears to be, acquaint yourself with the issues and include a forensic accounting expert on your deal team.
Going Concern
JULY 5, 2023
*not the actual office. Apologies if this photo is triggering to anyone. Let’s throw a theoretical out here. Imagine you are a highly qualified Canadian CPA with exemplary communication and data analytics skills and you have received two identical offers from leading firms. Would a clean, streamlined aesthetic and open plan sightlines, accentuated by generous glazing and abundant natural and contemporary LED lighting compel you to choose the firm whose office checks all those boxes?
Insightful Accountant
JULY 4, 2023
If your QBO Company-file is less than 60 days old, you can simply purge all the data from it and start over. Otherwise, you must cancel your subscription and start a new one.
Accounting Today
JULY 11, 2023
Leaders of the Senate Finance Committee are sending an open letter seeking input from experts, stakeholders and interested parties about how to adjust the rules for digital assets.
Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence
In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.
CPA Practice
JULY 6, 2023
By Jenna Anderson, Inc. (TNS). Despite concerns about inflation and interest rates, small business owners were more optimistic about the national economic outlook in the second quarter of 2023, according to a recent survey. The latest Small Business Index , a survey of small businesses from MetLife and the U.S. Chamber of Commerce, shows an increase in overall confidence from 60 to 63.1 since the first quarter of the year.
Withum
JULY 31, 2023
BALTIMORE, MD. (August 1, 2023) – WithumSmith+Brown, PC (“Withum”), one of the top 25 public accounting and advisory firms in the country, announced today that the firm is expanding its national footprint through the acquisition of two practices based in Baltimore, MD. The first practice includes the specialized healthcare assurance and risk consulting practice of Baltimore-based TMDG, LLC.
Ronika Khanna CPA,CA
JULY 28, 2023
Imagine having an office without clutter, free from sad looking boxes and filing cabinets filled to the brim, where you don’t have to rifle through unlabeled containers to find a receipt for a scanner that you bought three years ago. An office that would make Marie Kondo (queen of decluttering) proud by getting rid of (almost) anything that does not bring you joy and surrounding it instead with items that inspire (or at least improve productivity).
Cherry Bekaert
JULY 27, 2023
The July issue of the Regulatory Compliance Digest features a summary of the latest updates from the Consumer Financial Protection Bureau (CFPB) on Section 1071, the clarification of guidance on multiple re-presentment fees, interagency guidance on the risk management of third-party relationships and a reminder to file Office of Foreign Assets Control’s (OFAC) annual report on blocked property by September 30.
Speaker: Erika R. Bales, Esq.
When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.
Insightful Accountant
JULY 27, 2023
The US Citizenship & Immigration Service has announced a new Form I-9 available on August 1, 2023, and also a new alternative I-9 documentation procedure available only to qualified E-verify employers.
Accounting Today
JULY 21, 2023
The Internal Revenue Service is seeing a surge of tax scams this summer hitting taxpayers via email and text messages touting tax refunds and quick fixes to their tax problems.
CPA Practice
JULY 9, 2023
AuditFile, Inc., the developer of the award-winning cloud-based audit automation platform, has announced aquired Advantage Audit from John Wiley & Sons, Inc. Advantage Audit is an audit planning aid and audit program series designed to help auditors comply with risk-based professional standards in a straightforward and efficient manner. AuditFile also announced it has relaunched the Advantage Audit product as “AuditFile Advantage Audit AI.
Withum
JULY 26, 2023
In what seems to be an unprecedented turn of events on July 21, 2023, the IRS released Notice 2023-55 , providing temporary relief for taxpayers in determining which foreign taxes are “creditable” taxes for U.S. purposes. In early 2022, the IRS issued final regulations providing guidance on determining if a foreign tax is creditable for U.S. tax purposes.
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The status quo for AP in small and mid-market companies is broken. It consists of messy tech stacks of siloed solutions that give rise to manual work, a lack of control, wasted spend, and unnecessary risks. The benefits of shifting to spend management are tangible, measurable, and are felt across the whole organization. Spend management is a different way of thinking and an innovation whose time has come.
ThomsonReuters
JULY 25, 2023
Overpayments and repayments are two of the most common anomalies that could complicate year-end and W-2 processing. Now is a great time to sort out any potential difficulties. Jump to: What is an overpayment on taxes? Overpayments and repayments in the current year Overpayments and repayments in subsequent years Preventing tax overpayments What is an overpayment on taxes?
Going Concern
JULY 27, 2023
Last August the body of a 27-year-old woman was found at EY’s Sydney office early one Saturday morning , turns out the woman was an auditor at the firm and had returned to the office late Friday night to get some work done after drinking with colleagues earlier that evening. EY staff would later say they felt left in the dark on the situation and criticized leadership for a lack of transparency. “They brushed over the incident at the start of the call and then went on to talk about the EY
Cherry Bekaert
JULY 24, 2023
Evolution of the CFO The role of the Chief Financial Officer (CFO) continues to evolve and expand due to a changing business landscape. While the primary role of a CFO centers around financial management, there are several emerging trends that will shape the future role of CFOs. We are living in an increasingly volatile, uncertain, complex and ambiguous (VUCA) multilateral world, especially with the rapid pace of change in business.
Accounting Today
JULY 26, 2023
Lawyers and federal prosecutors came to an agreement during the hearing to limit the plea deal to apply to only tax crimes, drug offenses and a firearm violation between the years 2014 to 2019.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
How do you know if your accounting team is ready to automate the month-end close? Join us in this informative webinar, where we share the top 8 signs that indicate that a team has outgrown all existing tools and may be ready to embark upon month-end close automation. We will examine the process clues that help determine whether your team would be a good candidate for automation.
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