CPA Practice

AUGUST 29, 2023

By Shane Westra. Artificial Intelligence, or AI as it is regularly referred to…is undoubtedly the business buzzword of the year. This is for good reason because this technology continues to make many common business functions far more efficient than ever before, including new solutions that can help accounting firms advance their productivity and unlock more freedom for firm owners and employees.

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Accounting Today

AUGUST 29, 2023

Accounting firms are less important than the partner leading the team in terms of the impact on the business's effective tax rate and the probability it will face an audit.

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Going Concern

AUGUST 29, 2023

So a guy named Brian Kelleher who works for the hilariously named FML CPAs has written an opinion piece for the Hartford Courant entitled “Opinion: Accounting is a fantastic career — despite common misconceptions.” Let me preface everything that is about to be said here with this: Accounting is a fantastic career and I sincerely believe that or I wouldn’t have spent the last 15 years painstakingly and often obnoxiously pointing out things that are wrong with it.

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CPA Practice

AUGUST 29, 2023

By Ken Berry, J.D. If you’re planning to take a trip out of the country, make sure that your tax obligations have been paid up. Otherwise, as shown in a new case, Belton, TC Memo 2023-13, 1/24/23 , the IRS might try to revoke your passport. Background : Under a little-noticed spending measure enacted in 2015, the Fixing America’s Surface Transportation (FAST) Act, the IRS can deny, revoke or limit a passport if you have a seriously delinquent tax debt exceeding $50,000, barring a special excepti

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Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

AccountingDepartment

AUGUST 29, 2023

For any business to thrive, it is essential to have accurate and up-to-date information about its operations. Real-time data plays a crucial role in a business's success regardless of its industry or size. However, businesses that use outdated technology and traditional data management techniques, such as manually inputting data into spreadsheets or relying on quarterly reports, miss out on valuable insights regarding their business operations.

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TaxConnex

AUGUST 29, 2023

Online selling of products and services has always been in the vanguard of sales tax obligations. The situation has only gotten more complicated in the five years since the Supreme Court unleashed economic nexus with the Wayfair decision. Since, every state with a statewide sales tax (and countless localities, especially in places like California and Alaska ) has enacted economic nexus laws, meaning e-commerce vendors of products and, increasingly, services must collect and remit sales tax and f

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Going Concern

AUGUST 30, 2023

Another state has pushed to allow prospective CPAs to sit for the exam with just a bachelor’s degree worth of units and that’s good ol’ Texas. Effective September 1, future CPAs can sit for the exam with 120 units of education. Before anyone gets too excited, note candidates still need 150 units for licensure. Rules state the 120 units to sit must consist of no fewer than 24 semester hours of accounting, 21 of which must be upper-level accounting courses including two semester

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CPA Practice

AUGUST 28, 2023

By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) Recently, there’s been concern over planned changes to rules governing catch-up contributions for 401(k) plans. The changes, which initially weren’t going to be effective until 2024, will require catch-up contributions for higher-income earners to be made on a Roth basis. (Making catch-up contributions on an after-tax Roth basis means paying taxes on your retirement savings during the years when you usually earn more.

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Accounting Today

AUGUST 28, 2023

Dozens of firms have signed onto an initiative to stop underselling the worth of accountants and collect payments on time from clients.

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BurklandAssociates

AUGUST 29, 2023

Tracking your monthly burn rate helps ensure you don’t run out of cash runway while investing in your startup’s growth. The post How to Calculate Burn Rate at Your Startup appeared first on Burkland.

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Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.

TaxConnex

AUGUST 31, 2023

Online selling of products and services triggers sales tax obligations today like never before – and has ever since the Supreme Court’s 2018 Wayfair decision unleashed economic nexus on e-commerce merchants nationwide. Since, every state with a statewide sales tax (and countless localities, especially in places like California and Alaska ) has enacted economic nexus laws, meaning e-commerce vendors of products and, increasingly, services must collect and remit sales tax and file sales tax return

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Airbase

AUGUST 30, 2023

SuiteWorld has massive potential for new connections, growth, and learning. But, it’s also just HUGE. With some research, you don’t have to waste time trying to figure it all out once you arrive. A conference pass isn’t cheap, so you don’t want a lack of planning to keep you from getting the best experience possible. In a digital age, you can’t beat these opportunities to physically connect with relevant vendors and other professionals in your field.

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Accounting Today

AUGUST 30, 2023

The Internal Revenue Service is telling companies they will need to start electronically filing their forms reporting cash payments over $10,000, starting Jan. 1, 2024.

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Tax 141

Insightful Accountant

AUGUST 31, 2023

Murph wants to help you keep abreast of things happening around you—from news to vendor releases, conference tips and IRS updates. If he thinks you need to know, he's telling you.

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Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

Finance

MyIRSRelief

SEPTEMBER 1, 2023

Life has a way of throwing us unexpected challenges, and for many individuals and businesses, tax problems are among the most daunting. The mere mention of “Tax Audits,” “Unpaid Back Taxes,” “Unfiled Tax Returns,” “941 Payroll Problems,” “Tax Levies,” and “Tax Liens” can send shivers down your spine.

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CPA Practice

SEPTEMBER 1, 2023

The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in parts of Florida. These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA).

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Accounting Today

AUGUST 30, 2023

The Internal Revenue Service issued guidance Wednesday on how taxpayers should report the special tax payments, refunds and rebates they received from states in recent years as a form of relief during the pandemic.

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Tax income tax 129

Going Concern

AUGUST 31, 2023

Journal of Accountancy has written about the results of the Business and Industry Economic Outlook Survey from AICPA & CIMA , a quarterly effort that takes the temperature of CPA decision-makers — mostly CFOs, CEOs, and controllers — to find out what they think about business and economic challenges inside and out of their organization. The headline: Inflation no longer the top challenge for CPA decision-makers, survey shows Whew, finally. 45 percent of respondents are optimistic about their

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Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

accounting and finance

Anders CPA

AUGUST 31, 2023

Anders is ranked first in the medium-sized employer category for the 2023 Healthiest Employers of St. Louis by Healthiest Employers in partnership with Springbuck. Healthiest Employers is a trusted awards program that recognizes people-first organizations taking a more proactive approach to employee health. This is the first year Anders has been included on the list.

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CPA Practice

SEPTEMBER 1, 2023

By Jane Willis. There is no time like the present for accounting firms that want to start providing client advisory services (CAS) offerings to clients: data from Association of International Certified Professional Accountants (AICPA) and CPA.com’s 2022 CAS Benchmarking Survey shows that interest in CAS remains high, with a continued double-digit growth trend since the survey began in 2018.

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Accounting Today

AUGUST 30, 2023

The International Federation of Accountants issued a call to action to the G20 finance leaders urging them to focus more on sustainability as a way to achieve the United Nations' Sustainable Development Goals.

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Going Concern

AUGUST 31, 2023

Are you struggling to hire remote accountants, auditors, or tax professionals right for your firm or internal team? Accountingfly is ready to partner with you! Gain full access to a pool of highly skilled and experienced remote accountants ready to join your team with Always-On Recruiting. We are sharing a sneak peek of a few top candidates available this week with Accountingfly.

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Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

accounting and finance

Ryan Lazanis

SEPTEMBER 1, 2023

If you want to see the best cloud accounting software apps all in one place, then you’ll LOVE this ultimate list. In it, I’ll be sharing 147 of the best cloud accounting software apps on the market. Each item in the list will contain a brief description and will focus on how you can level up your accounting automation. While the list of accounting software is in no particular order, it has been grouped according to categories based on their accounting features so you can find the best accounting

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CPA Practice

SEPTEMBER 1, 2023

The IRS has provided guidance on the federal tax status of refunds of state or local taxes and certain other payments made by state or local governments to individuals. The IRS previously provided guidance on state payments made in 2022: IRS issues guidance on state tax payments to help taxpayers. The guidance is being issued as part of the IRS’s efforts to provide additional certainty to states and their residents regarding the federal income tax consequences of state payments made to taxpayers

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Accounting Today

AUGUST 30, 2023

Whitman Transition Advisors, an advisory organization for accounting firms, made a strategic investment of an undisclosed amount in Tax Titans, a veteran-owned company that operates an online marketplace connecting small businesses and qualified tax professionals.

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Going Concern

SEPTEMBER 1, 2023

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. P.S. We’re off for Labor Day, hope you are too. The Monday Morning News Brief will be published Tuesday.

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Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

Account

Withum

SEPTEMBER 1, 2023

On August 30, 2023, the IRS announced relief from certain tax filing and payment deadlines for individuals and businesses in parts of Florida that were affected by Hurricane Idalia. The relief, provided in IR-2023-159 and FL-2023-06 , extends to any county designated as a major disaster area by FEMA, and to counties added in the future. 46 of Florida’s 67 counties were mentioned in the News Release, but others have been added since then.

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CPA Practice

AUGUST 29, 2023

The Treasury Department and the IRS issued detailed—but more flexible—regulations on Tuesday regarding the new prevailing wage and registered apprenticeship requirements, which are linked to companies claiming clean energy tax credits under the Inflation Reduction Act. In addition, the IRS released frequently asked questions and Publication 5855 , which is an overview of the prevailing wage and apprenticeship requirements and the applicable credits.

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Accounting Today

AUGUST 30, 2023

The Financial Accounting Standards Board voted to require companies to tell the public more about the taxes they pay, starting as early as 2025.

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Cherry Bekaert

AUGUST 29, 2023

Technology products and software that are hyper-focused on creating efficiencies within an organization can save time and money, and even help scale a business. But as a technology leader, have you taken a step beyond that to explore what it can mean for the empowerment of your employees? Join Cherry Bekaert’s Client Accounting Services Leader, Dixie McCurley , as she discusses the importance of breaking down silos within an organization and creating a culture of true collaboration with our gue

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Speaker: Joe Sharpe and James Carlson

Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.

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