CPA Practice

JULY 22, 2024

New research by international telecommunications provider TollFreeForwarding.com reveals that accounting and tax is the second-happiest industry to work in. The Los Angeles-based company analyzed Glassdoor review data for 200 companies across 10 industries and ranked them based on the following six criteria: Culture and values Diversity and inclusion Work-life balance Compensation Career opportunities Senior management satisfaction Each industry was scored on a scale of 1 to 100 for each categor

Construction 124

Construction Account accountant accounted 124

Going Concern

JULY 23, 2024

Be aware, audit firms. The PCAOB is sniffing around about your use of generative AI according to a Spotlight they just released [ PDF ]. Exactly what they said was: The PCAOB’s standard-setting agenda includes a research project to assess whether there is a need for guidance, changes to PCAOB standards, or other regulatory actions in light of the increased use of technology-based tools in the preparation and subsequent audit of financial statements.

audit 118

audit financial statements accounting standards Legal 118

Accounting Insight

JULY 22, 2024

The annual accounting trends survey, conducted by Caseware over the last three years, has become a valuable source of data, helping us to gain insight into what’s on the road ahead for the profession. By tracking the same questions over the years, we are able to gain a valuable comparative study and a clearer understanding of the current trends and developments playing out.

Account 104

Account accountant accounted audit 104

Accounting Today

JULY 24, 2024

The CPA industry is undergoing profound change, reshaping the landscape of professional services.

cpa firm 138

cpa firm CPA 138

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Account

CPA Practice

JULY 22, 2024

Traditional accounting roles are evolving, now more than ever, as client needs change. Ask ten of your friends, and most will assume that an accountant is a number cruncher and focuses on compliance issues. And, to some degree, these people are correct. Certified public accountants know a lot about numbers, they analyze them, forecast them, and “crunch them,” but over 50% of firms now offer client advisory services and have become strategic partners with clients.

Account 130

Account accountant accounted Technology 130

AccountingDepartment

JULY 23, 2024

In today's competitive business landscape, staying ahead of the competition requires more than just a great product or service. Entrepreneurs, small business owners, and financial analysts must focus on tracking key financial metrics to ensure their company's growth and financial health.

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Summit CPA

JULY 23, 2024

Operations professionals face countless decisions, especially around personnel: When is it time to hire? What position should we prioritize? How many contracts do we have to sign to justify the hire?

CPA 52

CPA accounted Account accountant 52

CPA Practice

JULY 24, 2024

During a keynote speech on leadership at the Tri-Merit Bridging the Gap 2024 conference on July 24, Koltin Consulting Group CEO Allan Koltin asked those in attendance if they watch the show Ted Lasso. A majority of the people in the room at the Loews Chicago O’Hare Hotel in Rosemont, IL, raised their hands. “I’ve got to tell you, it’s one of the greatest television shows on leadership that I’ve ever seen,” Koltin said.

accounting firms 52

accounting firms Account accountant accounted 52

FraudFiles

JULY 25, 2024

One of the hot things in the area of divorce, especially for high net worth clients, is using a law firm that has forensic accountants on staff. Sometimes the divorce attorneys themselves have credentials in the area of forensic accounting, such as a CPA license, CFE (Certified Fraud Examiner) credential, or CFF (Certified in Financial [.

forensic accounting 52

forensic accounting Account accountant accounted 52

Patriot Software

JULY 25, 2024

Tracking your employees’ time worked ensures you pay them accurately and comply with labor laws. Although you can use whatever method you want, you need a dependable and organized system, especially as your business grows. Learn how to track employee hours with time and attendance software and other alternatives. Why does tracking employee hours matter?

payroll 104

payroll 104

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TaxConnex

JULY 23, 2024

The nature of sales tax audits has changed over the last several years, post-Wayfair. Prior to Wayfair, a significant component of sales tax audits was focused on use tax. Specifically, tax due on purchases that were not charged since the vendor did not have nexus in the state of the sale. Today, more and more companies have an obligation to charge sales tax, and use tax is less of an issue.

audit 264

audit auditor Sales Tax 264

RogerRossmeisl

JULY 22, 2024

(As appearing in IR 2024-186) IRS reminds car dealers and sellers to be aware of phishing scams The Internal Revenue Service would like to remind car dealers and sellers to be aware of evolving phishing and smishing scams that could impact day-to-day operations of the business. In light of the recent ransomware attack against CDK, the IRS is warning individuals and businesses to remain vigilant against these attacks.

CPA 264

CPA cpa firm business tax Tax 264

BurklandAssociates

JULY 23, 2024

It’s not just hackers taking notice. Customers, partners, investors, regulators, and insurers are all keeping a close eye on your cybersecurity controls. The post Why Cybersecurity is an Essential Investment in Your Startup’s Future appeared first on Burkland.

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CPA Practice

JULY 26, 2024

The IRS on July 26 provided five additional red flags of incorrect Employee Retention Credit (ERC) claims by businesses, as the agency continues to scrutinize requests for the pandemic-era tax credit. The new warning signs come from common issues that IRS compliance teams have seen while analyzing and processing ERC claims. These five red flags are in addition to seven problem areas the IRS highlighted last March.

payroll 131

payroll Government Tax 131

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

Accounting Today

JULY 25, 2024

The Internal Revenue Service reported further progress on offering more online tools and expanded taxpayer service.

online accounting 131

online accounting Account accountant accounted 131

RogerRossmeisl

JULY 21, 2024

If you’re a philanthropic individual who is also obligated to take required minimum distributions (RMDs) from a traditional IRA, you may want to consider a tax-saving strategy. It involves making a qualified charitable distribution (QCD). How it works To reap the possible tax advantages of a QCD, you make a cash donation to an IRS-approved charity out of your IRA.

CPA 248

CPA Tax 248

Withum

JULY 24, 2024

Becoming a partner in a law firm is a significant milestone, but it also comes with important financial considerations. Let’s explore some key points related to new law firm partners and their tax situation: Tax Implications for New Law Firm Partners Switch from W-2 to K-1 Taxation: Upon elevation to partner, there could be a switch from being a W-2 employee to receiving a K-1 to report income to you.

tax planning 126

tax planning Tax tax return CPA 126

CPA Practice

JULY 23, 2024

Investors, accounting firms, and other stakeholders have until Oct. 21 to provide comments on a new proposed Accounting Standards Update (ASU) issued by the Financial Accounting Standards Board (FASB) on Tuesday that aims to clarify rules on derivative accounting. Because of the broad interpretation of the definition of a derivative in Topic 815, Derivatives and Hedging , many types of contracts are being evaluated and potentially accounted for as derivatives, the FASB said.

Account 122

Account accountant accounted accounting principles 122

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

Accounting Today

JULY 22, 2024

Test your accounting knowledge on chief AI officers, Operation Hidden Treasure, and more. No. 2 pencil not required!

Account 130

Account accountant accounted 130

RogerRossmeisl

JULY 21, 2024

If you’re selling property used in your trade or business, you should understand the tax implications. There are many complex rules that can potentially apply. To simplify this discussion, let’s assume that the property you want to sell is land or depreciable property used in your business, and has been held by you for more than a year. Note: There are different rules for property held primarily for sale to customers in the ordinary course of business, intellectual property, low-income housing,

Tax 248

Tax CPA Sales business tax 248

Going Concern

JULY 22, 2024

I dug through my screenshot folder earlier today when I saw this article on Journal of Accountancy because I could have sworn I had dozens of well-written Reddit comments from years ago suggesting this is where the profession was headed (including responses calling them paranoid) but alas, I came up empty handed. Anyway, this became effective on July 1: The AICPA and the National Association of State Boards of Accountancy (NASBA) announced an expansion of international testing availability of th

CPA 122

CPA cpas Education Account 122

CPA Practice

JULY 26, 2024

By Anthony G. Attrino, nj.com (TNS) A woman who worked as an accountant for a New Jersey company was sentenced Monday to more than three years in prison and ordered to pay $3.8 million in fines for charging millions in personal expenses on her employer’s credit card. Jennifer Vandever, 51, of Atco, was also sentenced in federal court in Camden County to three years of supervised release, according to a spokesman for the Internal Revenue Service’s criminal investigations unit.

New Jersey 119

New Jersey income tax Account accountant 119

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

JULY 26, 2024

The Internal Revenue Service isn't in full compliance with the federal government's guidance for removal of TikTok from devices, according to a new report, but mainly because it hasn't been inserting the requirement in all its contract actions.

Maine 129

Maine Government Tax 129

RogerRossmeisl

JULY 21, 2024

Summer is a great time for business owners to review their estate plans. Maybe your kids are home for summer break, so they’re top of mind. Or perhaps you’re vacationing with relatives or getting together for a backyard BBQ. Whatever the reason you’re spending time with your family, consider having an open discussion with them about your estate planning goals — and how your business fits in your overall plan.

CPA 239

CPA Tax 239

Withum

JULY 24, 2024

Rev up for the Summer 2024 issue of Dealer Vision! This newsletter is fueled with insights to drive your dealership in the right direction. Learn more about the latest on warranty reimbursement laws, work-in-process reconciliation, and tips for managing your dealership’s assets, especially cash. Inside This Issue Warranty Reimbursement Laws – It’s Time for an Update The Mystery of Work-In-Process Cash Is Still King Download PDF View Interactive Newsletter CDK Insights Recap Do

Sales 119

Sales Account accountant accounted 119

CPA Practice

JULY 25, 2024

Thanks to the funding it received from the Inflation Reduction Act, the IRS said it has continued to make significant enhancements to online taxpayer services, including adding six new features to the Individual Online Account, a Spanish version of the Business Tax Account tool, and more amended business forms that can be filed electronically, the agency said on July 25.

online accounting 119

online accounting tax accountant Tax audit 119

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Accounting Today

JULY 23, 2024

Individuals and businesses in the affected counties now have until next Feb. 3 to file various federal individual and business tax returns and make tax payments.

Texas 128

Texas Tax tax return business tax 128

RogerRossmeisl

JULY 21, 2024

The current estate tax exemption amount ($13.61 million in 2024) has led many people to feel they no longer need to be concerned about federal estate tax. Before 2011, a much smaller exemption resulted in many people with more modest estates attempting to avoid it. But since many estates won’t currently be subject to estate tax, it’s a good time to devote more planning to income tax saving for your heirs.

income tax 236

income tax Tax CPA 236

Withum

JULY 24, 2024

Explore Other Episodes #CivicWarriors #WithumImpact The post Fundraising Home Runs With Dana-Farber Cancer Institute and the Jimmy Fund appeared first on Withum.

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CPA Practice

JULY 22, 2024

By Sarah Lynch, Inc. (TNS) Health insurance matters greatly to employees. And now, in smaller companies, millions more workers have coverage than they did a decade ago. According to the Center on Budget and Policy Priorities, a research organization and policy institute, the Affordable Care Act has been the difference maker. In 2013, about a quarter of employees at small businesses—those with fewer than 100 employees—were uninsured.

Maine 119

Maine Tax 119

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.

Finance