TaxConnex

NOVEMBER 21, 2023

In the world of accounting and tax, CPAs, accounting firms, and advisory firms play a vital role in helping individuals and businesses manage their finances and stay within the rules. But one tricky area that often causes headaches is sales and use tax. Whether you’re managing sales and use tax for your clients or not, you've most likely come across situations where your clients want to sell their businesses, secure outside capital, or ensure they’re not at risk from previous exposure.

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cpas Sales Tax audit 147

CPA Practice

NOVEMBER 20, 2023

A new study on how accounting professionals feel about their profession, job satisfaction, and automation has found that, while they are overwhelmingly positive about the profession, there is a clear need for more automation. This is an opportunity for firms to provide better client and employee experiences and to gain a competitive advantage. These results were part of the study, “Automation: Putting Accountants on the Right Path,” which was commissioned by ShareFile , a business unit of Cloud

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Canopy Accounting

NOVEMBER 20, 2023

Identify and comprehend the latest updates and changes in tax laws for the upcoming 2024 tax year.

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Tax 111

CPA Practice

NOVEMBER 20, 2023

An estimated 182 million people are planning to shop in-store and online from Thanksgiving Day through Cyber Monday this year, according to the annual survey by the National Retail Federation and Prosper Insights & Analytics. This figure is 15.7 million more people than last year and is the highest estimate since NRF began tracking this data in 2017.

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Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i

Insightful Accountant

NOVEMBER 20, 2023

The digital transformation of the accounting world isn't just coming—it’s already here, and AI is leading the charge. In Part 2, we invite you, the tech-curious accountant, to roll up your sleeves and delve deeper into the AI toolkit.

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RogerRossmeisl

NOVEMBER 20, 2023

As reported via IR-2023-193 on 10/19/2023 Special initiative aimed at helping businesses concerned about an ineligible claim amid aggressive marketing, scams As part of a larger effort to protect small businesses and organizations from scams, the Internal Revenue Service announced the details of a special withdrawal process to help those who filed an Employee Retention Tax Credit (ERTC) claim and are concerned about its accuracy.

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Anders CPA

NOVEMBER 21, 2023

As we near year-end, it’s important to be aware of the latest tax tips and guidelines to maximize your financial potential for 2024. Make sure you’re taking advantage of donations, cash gifts and more deductible activities to minimize your tax burden. When in doubt, consult with a trusted tax professional to determine whether certain deductible activities apply to your circumstances.

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tax planning Tax payroll Education 52

Mark Lee

NOVEMBER 21, 2023

One of the strangest things I hear about from accountants are how many clients they have who R eject, A void and S hun H elp. Do you have any like that? They still pay your fees but you’re not sure that you are doing your best for them. Years ago I only seemed to hear about clients who were a pain to deal with, slow to respond, overly fee conscious and/or rude and unpleasant.

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Account accountant accounted Tax 94

Insightful Accountant

NOVEMBER 20, 2023

Susan Pruskin shares her wonderful experience at QB Connect. Join her as she revisits her first ever Human Tunnel welcome, and amazing Main Stage Speakers.

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quickbooks Maine 105

Acterys

NOVEMBER 24, 2023

HubSpot is an all-in-one marketing technology solution that provides software, tools and other resources to support vital business functions, including sales, marketing and customer service. As businesses using HubSpot scale up and add technology, they find themselves needing to consolidate data sources and extract more value from existing systems. One way to do this is by using Power BI with a HubSpot data warehouse.

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Technology Sales accounting and finance quickbooks 130

Advertiser: Paycor

There’s a new overtime salary threshold that will impact employers across the country. If you have an employee making less than $43,888 on July 1 or less than $58,656 on January 1, you’re going to have to start paying overtime. Download Paycor’s guide to learn: Which groups of employees are affected? How should you classify employees? Best ways to mitigate risk.

BurklandAssociates

NOVEMBER 21, 2023

As of 2023, all states have enacted economic nexus legislation. Every business must understand state requirements and evaluate the tax implications. The post State Sales Tax Liability Continues to Evolve for US Startups appeared first on Burkland.

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Sales Tax 130

RogerRossmeisl

NOVEMBER 20, 2023

As posted to the AutoLine Network YouTube Channel on 9/11/2023 (Run Time 10 min, 13 sec) AutoLine’s John McElroy interviews Caresoft’s Han Ly at the International Motor/Mobility Show in Munich. Caresoft, a company that specializes in vehicle teardowns and benchmarking, provides insights into how Tesla designs its cars for modular assembly, notably how it eliminates fasteners and complexity.

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CPA Practice

NOVEMBER 21, 2023

Online sellers who use a third-party payment app will get a reprieve this upcoming tax filing season as the IRS said on Tuesday it will once again delay the new $600 Form 1099-K reporting threshold. The agency said it is planning for a reporting threshold of $5,000 for tax year 2024 before phasing in the $600 reporting threshold that was enacted under the American Rescue Plan in 2021.

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Tax 128

Acterys

NOVEMBER 24, 2023

HubSpot is an all-in-one marketing technology solution that provides software, tools and other resources to support vital business functions, including sales, marketing and customer service. As businesses using HubSpot scale up and add technology, they find themselves needing to consolidate data sources and extract more value from existing systems. One way to do this is by using Power BI with a HubSpot data warehouse.

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Technology Sales accounting and finance quickbooks 130

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

Insightful Accountant

NOVEMBER 23, 2023

As Intuit incorporates more of the QuickBooks Commerce inventory related functionality into various QuickBooks Online SKUs, they are adding some "Style" to QBO Advanced Inventory.

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quickbooks 111

RogerRossmeisl

NOVEMBER 19, 2023

If you’re facing a serious cash shortfall, one possible solution is to take an early withdrawal from your traditional IRA. That means one before you’ve reached age 59½. For this purpose, traditional IRAs include simplified employee pension (SEP-IRA) and SIMPLE-IRA accounts. Here’s what you need to know about the tax implications, including when the 10% early withdrawal penalty tax might apply.

Tax 100

Tax CPA Account accountant 100

CPA Practice

NOVEMBER 20, 2023

By Melissa Angell, Inc. (TNS) The new business tax account from the IRS , unveiled in late October, is expected to expand next year with a slate of new features that should make tax time a little smoother for entrepreneurs. The new features will allow companies to check their tax payment history, make payments, view notices, and enjoy the benefits that an individual tax account offers.

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tax accountant business tax Tax Account 124

Going Concern

NOVEMBER 23, 2023

Happy Thanksgiving! To our non-American readers, we’re on a lazy schedule this week so our content standards are even lower than usual. To our American readers, traffic patterns over the years consistently show that many of you come to the site on Thanksgiving and Christmas (fun fact: Christmas week is also when the newsletter gets some of the highest open rates of the year, yikes) which we’ve extrapolated means that you’re so miserable with your families you’d rather rea

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audit CPA Start-ups Manufacturing 111

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

Technology

Insightful Accountant

NOVEMBER 21, 2023

Intuit has found a new way to incorporate more client data into the QuickBooks ecosystem even when the client doesn't subscribe to it. QuickBooks Ledger. It's a way to 'ledger' client data, validate it, and pass it on for tax preparation.

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quickbooks tax preparation Tax 111

RogerRossmeisl

NOVEMBER 19, 2023

Is your business depreciating over 30 years the entire cost of constructing the building that houses your enterprise? If so, you should consider a cost segregation study. It may allow you to accelerate depreciation deductions on certain items, thereby reducing taxes and boosting cash flow. Depreciation basics Business buildings generally have a 39-year depreciation period (27.5 years for residential rental properties).

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Tax Construction CPA business tax 100

CPA Practice

NOVEMBER 21, 2023

By John M. Goralka, Kiplinger Consumer News Service (TNS) Recent S corporation sales have increasingly used an F reorganization structure this year. This article focuses on: The definition of an F reorganization The effect of the reorganization on both the buyer and the seller Why F reorganizations are so popular What is an F reorganization? An F reorganization is defined in Internal Revenue Code Section 368(a)(1)(F) as a mere change of identity, form or place of organization of one corporation.

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Tax Washington Sales Legal 116

Going Concern

NOVEMBER 24, 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. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

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auditor audit tax return cpas 106

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Insightful Accountant

NOVEMBER 22, 2023

Previously a standalone app, QuickBooks Time has undergone significant enhancements, merging seamlessly into QuickBooks Workforce and integrating time data into QuickBooks Online as part of the payroll functionality.

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quickbooks payroll 110

RogerRossmeisl

NOVEMBER 19, 2023

If you’re planning to start a business or thinking about changing your business entity, you need to determine what will work best for you. Should you operate as a C corporation or a pass-through entity such as a sole-proprietorship, partnership, limited liability company (LLC) or S corporation? There are many issues to consider. Currently, the corporate federal income tax is imposed at a flat 21% rate, while individual federal income tax rates currently begin at 10% and go up to 37%.

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income tax CPA Tax Start-ups 100

CPA Practice

NOVEMBER 21, 2023

By Liz Weston, CFP, NerdWallet (TNS) Many companies try to help their workers to save for retirement. Employers often offer 401(k)s, company matches and automatic enrollment to encourage saving. Much of that effort goes to waste, though, when employees leave. A study published last year in Marketing Science , a peer-reviewed research journal, found more than 40% of departing workers cashed out at least part of their 401(k)s, and most of those drained every dime.

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ThomsonReuters

NOVEMBER 23, 2023

Global supply chains are getting more difficult to manage by the day, making it all the more important for businesses to use every advantage they can get. That’s why businesses would be wise to explore strategies that help them defer costs incurred from customs duties, taxes, and other expenses, and minimize encounters with bureaucratic regulations. “As global supply chains become increasingly more complex, companies must find ways to optimize costs while still maintaining efficiency

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Tax Government audit Retail 105

Advertiser: Paycor

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

Accounting Today

NOVEMBER 21, 2023

The service will postpone the lower threshold, but will phase in a threshold of $5,000 for tax year 2024.

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Tax 138

RogerRossmeisl

NOVEMBER 19, 2023

Restricted stock awards are a popular way for companies to offer equity-oriented executive compensation. Some businesses offer them instead of stock option awards. The reason: Options can lose most or all of their value if the price of the underlying stock takes a dive. But with restricted stock, if the stock price goes down, your company can issue you additional restricted shares to make up the difference.

CPA 100

CPA Tax 100

CPA Practice

NOVEMBER 21, 2023

Accountants play a huge role in estate planning—from knowing your client’s asset and property values inside out to helping them plan how to manage and distribute these assets in case of an unplanned death. More often than not, people with no estate plans leave behind a huge deal of mental stress on their loved ones on how to manage and distribute properties which often leads to disagreements, on top of the emotional distress caused by death.

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Insightful Accountant

NOVEMBER 20, 2023

QuickBooks is enhancing their inventory, sales and E-commerce capabilities by incorporate components from QuickBooks Commerce which they acquired from Trade Gecko.

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