CPA Practice

SEPTEMBER 30, 2024

Over the past 20 years, accounting firm leaders have been challenged by a rapidly evolving technological landscape that promises greater productivity and efficiency – keys to modern successful firms – to those who are able to evaluate and implement the solutions that best optimize client service and firm management. In the wake of the pandemic, they’ve also had to reimagine the dynamics of their staffing and workflow, as many firms adopted remote or hybrid workforce models, often necessary to co

CPA

RogerRossmeisl

SEPTEMBER 29, 2024

When drafting partnership and LLC operating agreements, various tax issues must be addressed. This is also true of multi-member LLCs that are treated as partnerships for tax purposes. Here are some critical issues to include in your agreement so your business remains in compliance with federal tax law. Identify and describe guaranteed payments to partners For income tax purposes, a guaranteed payment is one made by a partnership that’s: 1) to the partner acting in the capacity of a partner, 2) i

Tax

Insightful Accountant

SEPTEMBER 30, 2024

In this episode of the Accounting Insiders Podcast, host Gary DeHart welcomes Janel Sykora from Cajabra to explore the critical role of marketing for accountants. Discover why shifting sm.

accounted

Canopy Accounting

OCTOBER 2, 2024

What makes you the obvious choice for clients when they’re deciding between you and a competitor? Is it the niche services you offer, the exceptional service you provide, or your strong online presence?

accounted

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The office of the CFO is rapidly evolving, with more and more demands being placed upon the finance and accounting team each year. Join us in this webinar, where we share 8 things to NOT do when it comes to helping the CFO office advance in supporting the business. Learning Objectives: This course objective is to understand how best to support an organization's finance leadership.

accounting and finance

Anders CPA

SEPTEMBER 30, 2024

In-kind contributions, or gifts-in-kind (GIK), play a critical role in supporting not-for-profit organizations’ program activities and mission goals. Accurately recognizing and valuing these nonfinancial contributions has long been a challenge. Changes to the reporting standards for in-kind contributions highlight the need for not-for-profits to be thorough, transparent and strategic in how they report these assets.

Legal

TaxConnex

OCTOBER 1, 2024

Information technology companies face a special challenge in sales tax and regulatory compliance, chiefly because of what you sell and how you sell it. What do you do exactly? Sell Software as a Service (SaaS)? Provide an information service? A telecom service? Your company probably fits into at least one of these categories – or more than one, which is where sales tax obligations and regulatory compliance can get complicated.

Technology

CPA Practice

SEPTEMBER 30, 2024

The IRS on Sept. 30 requested public comments on draft Form 7217 and instructions for draft Form 7217. Last month the IRS posted revised draft Form 7217, with the new title “Partner’s Report of Property Distributed by a Partnership.” This is a new form for tax year 2024 applicable to distributions to partners made during that tax year. The purpose of Form 7217 is to report all distribution of property that a partner receives from a partnership.

Tax

CPA Practice

OCTOBER 1, 2024

The IRS on Tuesday announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina, and South Carolina, as well as parts of Florida, Tennessee, and Virginia. Taxpayers in these areas now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments.

South Carolina

Accounting Insight

OCTOBER 1, 2024

The Millennials (Gen Y) and arrival of Generation Z in the workforce is transforming how businesses operate. Often stereotyped—Millennials as tech-savvy yet fickle, and Gen Z as pragmatic and bold—these generations are driving significant changes in workplace dynamics. Raised in an era of instant access and global interconnectedness, both generations bring fresh perspectives that challenge the status quo of traditional management.

Technology

RogerRossmeisl

SEPTEMBER 29, 2024

With the arrival of fall, it’s an ideal time to begin implementing strategies that could reduce your tax burden for both this year and next. One of the first planning steps is to ascertain whether you’ll take the standard deduction or itemize deductions for 2024. You may not itemize because of the high 2024 standard deduction amounts ($29,200 for joint filers, $14,600 for singles and married couples filing separately, and $21,900 for heads of household).

tax planning

Speaker: Dylan Secrest, Founder of Alamo Innovation and Construction Digital Transformation Consultant

Construction payment workflows are notoriously complex when you consider juggling multiple stakeholders, compliance requirements, and evolving project scopes. Delays in approvals or misaligned data between budgets, lien waivers, and pay applications can grind progress to a halt. The good news? It doesn't have to be this way! Join expert Dylan Secrest to discover how leading contractors are turning payment chaos into clarity using digital workflows, integrated systems, and automation strategies.

Technology

TaxConnex

OCTOBER 3, 2024

Navigating sales tax compliance in complex organizations can be a challenge, influenced by various factors. Industries like telecommunications, hospitality, healthcare, manufacturing, and technology face unique complexities when it comes to sales and use tax compliance. In this blog we discuss some of the reasons why these particular industries can be a bit more challenging than others.

Sales

BurklandAssociates

OCTOBER 1, 2024

For healthcare founders, the MSO/PC model simplifies scaling, ensuring compliance with CPOM while allowing you to focus on delivering quality care. The post The MSO/PC Advantage for Scaling a Healthcare Startup appeared first on Burkland.

Healthcare

Accounting Today

SEPTEMBER 30, 2024

We asked a panel of accounting technology thought leaders about their favorite applications, and here is what they said.

accounted

RogerRossmeisl

SEPTEMBER 29, 2024

Electric vehicles (EVs) have become increasingly popular. According to Kelly Blue Book estimates, the EV share of the vehicle market in the U.S. was 7.6% in 2023, up from 5.9% in 2022. To incentivize the purchase of EVs, there’s a federal tax credit of up to $7,500 for eligible vehicles. The tax break for EVs and fuel cell vehicles is called the Clean Vehicle Tax Credit.

Tax

Speaker: Gerald Ratigan

The accounts payable (AP) function is evolving and AI is leading the charge. As finance teams face rising invoice volumes and expectations for speed and accuracy, AI-powered automation has shifted from a futuristic concept to the most practical solution. But for finance leaders, success isn’t just about selecting the right tools, it’s about implementing the right strategy.

accountant

Withum

OCTOBER 3, 2024

The IRS issued a news release providing tax relief for taxpayers affected by Hurricane Helene. This includes the entire states of Alabama, Georgia, North Carolina, and South Carolina, 41 counties in Florida, eight counties in Tennessee, and six counties and one city in Virginia. Key Hurricane Helene Tax Relief Information Who qualifies for this relief?

South Carolina

MyIRSRelief

OCTOBER 4, 2024

Filing taxes can be a daunting task, whether you are an individual or a business owner. Despite your best efforts, errors can occur, leading to potential complications with the IRS. This article will guide you through the process of correcting errors on your tax return, provide instructions on filing amended returns , highlight common mistakes to avoid, and explain how our tax firm can professionally assist you.

tax return

Accounting Today

OCTOBER 4, 2024

After a half-century at his firm, David Politziner says accounting is still all about relationships.

accounted

RogerRossmeisl

SEPTEMBER 29, 2024

Protecting your small business from theft is far more complex than it used to be. Gone are the days when locking the doors was enough to minimize the likelihood of intruders. Today, companies face both physical and cyber risks, and it’s critical to understand how they’re intertwined. The problem with things Imagine that a thief breaks into one of your employee’s cars and steals a company laptop that contains your entire customer database.

CPA

Speaker: Sean Yoder

Nonprofits are under more pressure than ever to demonstrate financial accountability while continuing to expand their impact. Traditional budgeting models often fall short, reinforcing silos, limiting flexibility, and stalling growth. Enter collaborative budgeting: a dynamic, team-driven process that enables smarter resource allocation and builds financial resilience at scale.

accounting and finance

CPA Practice

OCTOBER 4, 2024

The Internal Revenue Service says its Direct File program has added 12 new states and will be available for the 2025 tax filing season. It now has double the number of states than last year’s pilot, and the agency says it will cover a wider range of tax situations, greatly expanding the number of taxpayers eligible to use the free e-filing service. State and eligibility expansion For the 2025 tax filing season, eligible taxpayers in 24 states will be able to use Direct File: 12 states that were

Alaska

Withum

SEPTEMBER 30, 2024

In an increasingly digital world, the line between personal and professional lives has blurred, making cybersecurity a shared responsibility that extends beyond the workplace. October marks Cybersecurity Awareness Month, a timely reminder for leaders across all industries to take actionable steps toward safeguarding both personal and business information.

Education

Accounting Today

OCTOBER 1, 2024

LHH's 2025 Annual Salary Guide reports 56% of accounting professionals feel their roles are at risk of disruption by digitalization, automation and AI.

accounted

RogerRossmeisl

SEPTEMBER 29, 2024

As reported via IR-2024-240 on 9/18/2024 The Department of Treasury and Internal Revenue Service issued proposed regulations to provide guidance for the Alternative Fuel Vehicle Refueling Property Credit (the tax credit related to the installation of EV chargers). The Inflation Reduction Act amended the credit for qualified alternative fuel vehicle refueling property.

CPA

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You wouldn’t keep using a 2009 flip phone - so why settle for outdated close processes? It’s time for an upgrade. SkyStem's Guide to Month-End Close Software walks you through what today’s best tools can do (and what your team shouldn’t have to deal with anymore). Get smart, fast, and a whole lot less stressed when it’s time to close the books.

CPA Practice

OCTOBER 3, 2024

Avalara, Inc. , a provider of tax compliance automation software for businesses of all sizes, has announced the launch of Automated Tariff Code Classification , a AI-based system that uses a pioneering combination of proprietary, advanced AI, machine learning, and natural language processing methods and technologies to classify large product catalogs quickly and efficiently to Harmonized System (HS) or Tariff Codes.

Technology

Going Concern

OCTOBER 1, 2024

We noticed this morning that an October 2022 article we wrote about Fat Joe suing BDO was suddenly getting a lot of views today, now it’s clear why. FT says in a fresh story that 54-year-old rapper Jay-Z — real name Shawn Carter aka Mr. Bey — severed his relationship with BDO “following accusations that a staff member had been stealing money from customer accounts.” That former staff member is Vanessa Rodriquez, assistant to Andre N.

Colorado

Accounting Today

OCTOBER 1, 2024

As more and more professional services organizations lean on AI-driven tools to enable new ways of working, there is some question as to how this will impact pricing models.

cpas

RogerRossmeisl

SEPTEMBER 29, 2024

Manufacturers are as varied as the products they make. They come in different sizes and specialties. So no universal formula applies when determining their value. Instead, a business valuator must fully understand the subject company’s operations to arrive at an accurate value conclusion. Here’s a closer look at seven factors that affect value in the manufacturing sector: 1.

Manufacturing

Speaker: Joe Wroblewski, Sales Engineer Manager

Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te

Tax

CPA Practice

OCTOBER 3, 2024

As the cost of healthcare in the U.S. rises to a record high since the COVID-19 pandemic, nearly half of employers expect healthcare costs will exceed budget projections this year. In response, employers are embracing different approaches to safeguard program affordability for their companies as well as for their employees. While focusing on more competitive, cost-effective plan designs to control costs, they are seeking to maintain employee wellbeing, according to a new survey by WTW, a global

Healthcare

Randal DeHart

OCTOBER 4, 2024

Does this sound like you? Maybe you started your company with a few friends and relatives as your earliest clients, and you thought your overhead expenses would be low since you worked out of your home. You made a decent living for yourself, hired a few sub-contractors per project, paid your suppliers, and earned a profit—at least that is what your tax preparer said.

Construction

Accounting Today

SEPTEMBER 30, 2024

The American Institute of CPAs and the National Association of State Boards of Accountancy proposed a set of changes in the model legislation used in many states to reflect an alternative pathway to CPA licensure based on competency.

CPA

RogerRossmeisl

SEPTEMBER 29, 2024

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. Note: Certain tax-filing and tax-payment deadlines may be postponed for taxpayers who reside in or have a business in a federally declared disaster area.

Tax

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