This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
In the rapidly evolving landscape of the tax and accounting industry, specialization has emerged as a solid differentiator, providing firms with a distinct competitive edge. As clients’ needs become more diverse and complex, offering cookie-cutter services is no longer sufficient. Instead, firms are embracing specialization to tailor their expertise and solutions to match the unique requirements of their target clients. 1.
New Oracle NetSuite white paper not only provides a guide for CFOs about the topics of AI and Machine Learning, but also evaluates ChatGPT. Read our summary of how ChatGPT explained ASC 842 compliance.
In today's globalized business landscape, outsourcing has become a popular strategy for companies looking to streamline operations and reduce costs. One area that has seen significant outsourcing is accounting. Outsourced accounting models allow businesses to access specialized expertise, increase efficiency, and focus on core competencies. Regarding outsourced accounting, two prevalent models are offshore and onshore.
A new webinar by LeaseCrunch will help guide attendees through preparing for the next chapter of ASC 842 lease accounting implementation. See how to sign up today.
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.
For many mid-market companies, it’s a little early to staff a procurement department. At Airbase, I’m the controller of a 300-person tech company without a dedicated procurement professional, so the responsibility to ensure that the procurement function is being fulfilled (policy compliance and vendor management) falls to me. Even in the absence of full procurement teams and legacy solutions, there are still steps that can help us controllers adhere to procurement best practices.
The Internal Revenue Service hopes to process all of the tax correspondence, notice responses and non-tax forms it receives digitally in the next two years in an effort to reduce the amount of time-consuming paper it receives in the mail.
In today’s ever-evolving business landscape, success hinges not only on visionary leadership but also on robust execution. To bridge the gap between lofty ambitions and tangible achievements lies the art of operational planning. This integral process serves as the foundation upon which businesses can thrive and surpass their goals, navigating complexities with precision and purpose.
In today’s ever-evolving business landscape, success hinges not only on visionary leadership but also on robust execution. To bridge the gap between lofty ambitions and tangible achievements lies the art of operational planning. This integral process serves as the foundation upon which businesses can thrive and surpass their goals, navigating complexities with precision and purpose.
It seems like a simple part of selling online. You sell an item to a customer, they decide for whatever reason to return it, and you give them a refund. Simple. Except when sales tax becomes involved. One in every five … What are the odds your online company will have to deal with returns and make refunds? Pretty likely: At least one in every five products ordered online are returned, versus maybe one in 10 bought in a brick-and-mortar store.
Dear CPA Practice Advisor reader, We appreciate that you enjoy reading our free content, and we are committed to keeping it free. In order to do so, and to be able to expand content and add customization features, we will start requiring registration. Rest assured, the process and the content will still be free and unlimited. As you access content on cpapracticeadvisor.com , you may notice that you are being asked to either log in or sign up for an account.
According to a plea agreement, Biden was well aware of his tax liabilities from an accountant he hired. The accountant prepared Biden's returns and sent them to him for review and signature. Despite repeated encouragement by his accountant, Biden never signed or submitted his returns.
There are many types of professional practices. Examples include medical, architecture, engineering, accounting, advertising, design and law. From a business valuation perspective, it’s important to recognize the common denominators these businesses share. Reliance on intangible assets Professional practices provide services rather than sell products (at least primarily).
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.
Internal audits play a crucial role in the success and sustainability of a company. They are systematic and independent evaluations of a company’s internal controls, financial reporting, and operational processes. Conducting regular internal audits helps identify potential risks, improve operational efficiency, and ensure compliance with laws and regulations.
Build a file organization structure and be disciplined about saving your files to streamline future due diligence and seize the opportunity. The post Due Diligence Checklist for Startups appeared first on Burkland.
Trucking companies form the backbone of the transportation industry, ensuring that goods are delivered efficiently and promptly across the country. However, with the increasing complexity of tax regulations, many of these companies find themselves struggling to maintain tax compliance. Non-compliance can lead to severe penalties and financial setbacks, posing a significant threat to their operations.
Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several years. But should you? It’s not as simple as it may seem. Qualified improvement property For qualifying assets placed in service in tax years beginning in 2023, the maximum allowable first-year Section 179 depreciation deduction is $1.16 million.
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.
The IRS on Aug. 4 provided guidance to taxpayers on the requirements for home energy audits in order to claim the energy efficient home improvement tax credit. Created by last year’s Inflation Reduction Act, the nonrefundable energy efficient home improvement credit is available to taxpayers who purchase and install certain energy efficient improvements in their principal residences.
In what must surely be an oversight, mandatorily retired PwC Australia partner Peter van Dongen (again, great name) neglected to mention that he was forced out of the firm, saying he “agreed with PwC to bring forward my planned retirement by a few months.” AFR columnist Joe Aston writes : A month ago, embattled consultancy giant PwC announced it was booting eight partners, including Sydney-based Peter van Dongen, following an internal investigation into its tax leak scandal.
Expanding operations into foreign countries can help U.S. businesses reduce labor and operating costs. It can also provide them with access to new markets and potentially higher profits. You may be attracted to a country by a plentiful labor supply, significant tax benefits or government incentives. But, beware: Some foreign business environments present serious fraud risks.
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.
By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) There’s another Mega Millions drawing Aug. 4 (that’s tonight!) and the advertised jackpot has climbed to $1.25 billion. That’s an estimated cash payout of about $625.3 million, which is the fourth-largest prize in Mega Millions history. However, the Mega Millions winner will have to pay considerable federal taxes.
Xerocon is fast approaching: the best forum to hear about the latest innovations within Xero, get inspired and connect with other accountants and bookkeepers. Plus, with more than 70 app partners from the Xero ecosystem exhibiting at Xerocon Sydney on 23-24 August, it’s also the best opportunity you’ll have all year to connect with and learn about apps that can take your practice to the next level.
If you’re age 65 and older and have basic Medicare insurance, you may need to pay additional premiums to get the level of coverage you want. The premiums can be costly, especially for married couples with both spouses paying them. But there may be an advantage: You may qualify for a tax break for paying the premiums. Premiums count as medical expenses For purposes of claiming an itemized deduction for medical expenses on your tax return, you can combine premiums for Medicare health insurance wit
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.
Many of our clients are heavily invested in the stock market. While we count on the brokerage statements to help us report their income correctly, it’s imperative that we have a good working knowledge of the type of income these investments produce and how to correctly report them on the tax return.
For the last two years, the American Institute of CPAs (AICPA) has diligently and consistently advocated on behalf of taxpayers and CPAs to the Internal Revenue Service (IRS) and the Department of the Treasury regarding unscrupulous third-party vendors promoting improper Employee Retention Credit (ERC) claims. The ERC, established as part of a COVID-19 relief package to aid businesses during the pandemic, has been exploited by unethical credit mills and other bad actors to submit claims on behal
As posted to the Climate One YouTube page on 7/17/23 Run Time 58 minute, 47 seconds (when beginning at Time Stamp 21:33) Climate One clip description: Demand for lithium ion batteries is expected to grow 500% by 2030, and the race for raw materials is on. Lithium mines around the world are opening or expanding, while children as young as six in the Congo carry sacks of cobalt-laced rocks on their backs for less than $2 a day.
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.
The accounting industry is undergoing significant changes in today's fast-paced and technology-driven world. Integrating AI and technological advancements presents challenges and opportunities for accountants and accounting firms. Remaining competitive and thriving in this evolving landscape means embracing the new — new ideas, new practices, and new technology.
Audit Analytics has released “ A Twenty-Year Review of Audit Fees ,” an in-depth look at audit fee trends from 2002 to 2022 and there are some fun charts inside. Mainly we care about this one: In FY2003, average audit fees were $681,000; in FY2022, this number was $2,243,000. A few more factoids: The average audit fees paid by SEC registrants reached an all-time high in FY2022 at $2,242,980—representing an 11% increase from FY2021 Average total fees paid grew nearly 10% in FY2022 to
The IRS is not adhering to its own internal guidelines when sending large volumes of sensitive taxpayer information to and from its tax processing centers, according to a new report from the Treasury Inspector General for Tax Administration, the watchdog entity that oversees the nation’s tax agency. Specifically, the report found that required tracking documents, such as Forms 3210, Document Transmittal, are not included with these shipments and/or not prepared properly.
Speaker: Claire Grosjean, Global Finance & Operations Executive
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
We organize all of the trending information in your field so you don't have to. Join 237,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
98 
Let's personalize your content