Sat.Aug 19, 2023 - Fri.Aug 25, 2023

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Five Ways to Secure Millennial and Gen Z Accounting Talent

CPA Practice

By David Osborne. A global accounting industry survey of more than 6,000 accountants and auditors conducted earlier this year revealed the No. 1 challenge respondents currently face is attracting and retaining skilled talent. Like most sectors, the accounting industry is feeling the effects of the shift in the labor market as workers quit their jobs in search of better roles and greater job satisfaction.

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Sales Tax Compliance - There Is No EASY Button

TaxConnex

Sales tax automation has come a long way since the Quill vs. North Dakota case in 1992. Now, even the smallest multi-state businesses and startups have access to sales tax automation options that lower costs and ease the burden of compliance. AI is even making it’s way into the sales tax world, but how much do you trust an automated bot or machine with your sales tax obligations?

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Managing AI & ChatGPT in the Workplace

BurklandAssociates

We are at a pivotal point in our lives technology-wise. Artificial Intelligence is taking the markets by storm and has become a tool that almost anyone can use with just Read More The post Managing AI & ChatGPT in the Workplace appeared first on Burkland.

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Tax Partner Matters More Than Firm on Business Taxes

CPA Practice

When it comes to a corporation’s relationship with its accounting firm, the firm itself is less important than the partner who leads its engagement team in lowering its tax rate, according to a new study from Iowa’s Tippie College of Business. The study found that the partner has twice as great an impact on the firm’s cash effective tax rate than did their firm.

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How to Easily Navigate Crypto Accounting in the Web3 Era

Speaker: Aaron Jacob, VP of Accounting Solutions & Reagan Cook, GTM Lead

Are you struggling to navigate the complexities and challenges that come with crypto accounting? 🤔 This new webinar will cover everything businesses need to know to get started with crypto accounting after incorporating crypto into their business models! Industry experts Aaron Jacob and Reagan Cook of TaxBit will thoroughly explore the prevalent operational hurdles encountered by accounting teams when interacting with crypto on the books, and detail how software solutions can effectively

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Art of Accounting: What happens to your practice when you die

Accounting Today

If partners do not have a buy-sell agreement and one of them dies or is suddenly disabled, there will be problems between the survivors and the family of the affected partner.

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Work Is Destroying Tax and Accounting Professionals’ Mental Health Much Less Than You’d Think

Going Concern

Thomson Reuters recently spit out its Future of Professionals special report , a survey of more than 1,200 professionals working in the legal, tax & accounting, global trade, risk, and compliance fields who are employed at firms, corporate in-house departments, and government agencies based in North America, South America, and the United Kingdom.

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More Trending

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Director Discusses Several Considerations Involved When Taking A Business Global

ThomsonReuters

Audio streaming and media services provider Spotify was founded in Stockholm, Sweden in the spring of 2006 and launched in the United States in 2011 after already solidifying a presence in the United Kingdom, Germany, France, Italy, Spain, Finland, and Norway. The company’s expansion continued rapidly with a global reach to 65 countries by March 2018 and further expansion to more than 80 markets in 2021, including locations across Africa, Asia, and the Caribbean.

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AICPA asks IRS for better trust forms, guidance on tax credits

Accounting Today

The institute sent comment letters requesting changes in two forms used to report on foreign trusts, and guidance on energy credits and advanced manufacturing investment credits.

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How Outsourced Client Accounting Services Support Expansion Strategies

AccountingDepartment

In the pursuit of business growth and expansion, establishing a strong and effective financial management system becomes imperative. This encompasses precise record-keeping, timely reporting, and adherence to regulatory obligations. To effectively navigate growth and focus on core business activities, many organizations are turning to outsourced client accounting services.

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Construction contractors and sales tax

TaxConnex

Construction contractors have a tough job these days, given labor shortages, supply-chain headaches and mushrooming regulation. If you’re in this industry, the last thing you need added to your load is sales tax. Generally, a business in the construction industry is performing a service, and most services are excluded from sales and use tax. But sales tax has to be your concern if you engage in contracts in different states.

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Live Demo: How to Achieve Reconciliation Zen

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

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IRS Issues Table for Calculating Premium Tax Credit for 2024

CPA Practice

The IRS on Wednesday released an updated applicable percentage table used to determine a person’s premium tax credit for 2024. The Affordable Care Act’s premium tax credit was created to help lower- and middle-income Americans pay for health insurance purchased through the healthcare marketplace ( HealthCare.gov ). Health insurance can also be purchased through some state exchanges.

Tax 98
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John Sheehy to Lead Investigative and Corporate Intelligence Services Group

Withum

Withum is excited to share that John Sheehy, JD, and Principal within the Forensics and Valuation Services Team, will lead the Firm’s Investigative and Corporate Intelligence Services Group. Formerly a Special Agent, Crisis Negotiator and Supervisor at the Federal Bureau of Investigation, John has a complex and comprehensive understanding of white-collar crime and fraud.

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IRS may have skirted rules on directly contacting represented taxpayers

Accounting Today

Internal Revenue Service employees weren't always following the proper rules when it came to directly contacting taxpayers instead of their representatives like accountants and attorneys.

Account 98
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Understanding depreciation and its impact on corporate tax

ThomsonReuters

Jump to: How does depreciation affect corporation taxes? Accelerated depreciation for corporations How does depreciation work in an S corporation? What is the purpose of making a provision for depreciation? What is the depreciation guidance for corporate alternative minimum tax? Managing corporate tax depreciation Each tax season, business clients turn to their accountant for assistance in navigating corporation tax depreciation and leveraging every tax deduction they can take to min

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New DOL Final Overtime Rules: Quickstart Guide for Employers

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.

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Business Travel Rebounds, Sees 46% Jump Even Over Pre-Pandemic Times

CPA Practice

Despite rocky economic conditions and pressures within organizations to cut down on travel costs, business travel is making an unexpected and robust comeback. According to Capterra’s 2023 Travel Survey, 46% of business travelers report going on more trips than before the pandemic—on average, they travel six times a year, with trips lasting about three days.

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SEC Announces New Anti-Money Laundering Requirements for Broker-Dealers in Risk Alert

Withum

On July 31, 2023, the U.S. Securities and Exchange Commission published a Risk Alert to their broker-dealer members regarding Anti-Money Laundering (AML) compliance examinations and related issues. The Division of Examinations’ Risk Alert reiterated the need for registered broker-dealers to establish and maintain sound AML programs for each firm designed to mitigate risks in the financial system.

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Exploring AI and machine learning in modern bookkeeping

Accounting Today

In an era where technological advancements redefine our day-to-day activities, artificial intelligence and machine learning have emerged as transformative forces in various sectors.

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How small businesses are navigating AI

Xero

The hype around artificial intelligence (AI) is making small businesses feel that its development and adoption is moving at lightning speed. In fact, our new research shows that 80% of small business owners globally are concerned that the fast pace and nature of AI is leaving regulation in the dust. They told us they want governments to do more, given the potential big impact to industries and the workforce.

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Planning Your Restaurant's Path to Profitability

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.

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IRS Hiking Interest Rates on Oct. 1

CPA Practice

The IRS said Friday that interest rates will go up for the fourth quarter of 2023 , which begins on Oct. 1. The last time the agency increased interest rates was for the first quarter of this year when the rate for tax overpayments and underpayments was 7% per year, compounded daily, up from 6% for Q4 2022. Interest rates had stayed the same in Q2 and Q3 of this year.

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My 9 Favorite Ways to Prevent Scope Creep

Ryan Lazanis

As new ideas and features emerge, it’s all too easy for the initial project boundaries to expand far beyond their intended limits. In this episode, I discussed nine key strategies that I have tested in the field to effectively prevent scope creep. Listen Below. 0:43 Scope creep or out-of-scope work is defined as performing tasks not outlined in the client agreement.

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Recession and hiring concerns ease among execs

Accounting Today

Only 17% of executives now anticipate a recession, according to a survey released Tuesday by PricewaterhouseCoopers, and 74% believe they can attract and retain the talent they need.

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Software depreciation: Exploring tax implications and deductions

ThomsonReuters

Jump to: What is software depreciation? How is software depreciated for tax purposes? Can software be amortized? Internal use vs. external use software Solutions for managing software depreciation for taxes In today’s tech-driven environment, companies need software to efficiently run their business, whether it is software they purchase from an outside source or develop internally.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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Accounting Marketer Release Book: “The B2B Marketer’s Guide to AI: Strategies, Tactics & Tools for Success”

CPA Practice

Becky Livingston has unveiled her latest book, “The B2B Marketer’s Guide to AI: Strategies, Tactics & Tools for Success.” This insightful and timely work marks the author’s fourth published title and aims to bridge the knowledge gap in the intersection of B2B marketing and the ever-evolving world of artificial intelligence. With AI transforming industries at an unprecedented pace, business-to-business marketers can no longer afford to stay on the sidelines.

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ERC Success Story: Auto Dealerships Save Millions

Cherry Bekaert

Challenge Auto dealerships faced substantial challenges during the COVID-19 pandemic. With state government mandates and other countries closing manufacturing sites, international trade, production, and sales slowly came to a halt. As a result, many dealerships were faced with a tough decision: keep their employees on the payroll despite lower revenues, or risk permanently losing their investment in their staff with temporary layoffs.

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Tax trading scam made my life a 'shambles,' Duet Group founder Gabay says

Accounting Today

Henry Gabay, founder of a now defunct London-based asset manager, told a German court that he's innocent and that the "devastating" Cum-Ex charges against him are built on lies by his former business associates.

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Xero Beautiful Business Fund applications open for small business customers

Xero

Today marks day one of Xerocon Sydney and I’m so excited to share more details on a global initiative called the Xero Beautiful Business Fund. Last month on Xero Day, the anniversary of the day where it all started for us 17 years ago, we announced the Xero Beautiful Business Fund as a way to help our small business customers boost their growth plans and drive future success.

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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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Three Ways Outsourced Accounting Can Streamline Nonprofits

CPA Practice

By Jennifer Arbore. From perfecting the art of virtual fundraising and volunteering to implementing fresh social media strategies, creating innovative donor retention programs and driving their missions forward despite a myriad of ongoing global challenges, today’s nonprofits are dealing with a complicated and quickly evolving landscape. That’s why operations need to be as simple as possible.

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IRS Update on ERC Eligibility: 5 Scenarios That Do Not Qualify as Supply Chain Disruptions

Cherry Bekaert

New IRS General Legal Advice Memorandum The Internal Revenue Services (IRS) released a general legal advice memorandum (GLAM) that lists additional guidance on whether supply chain disruptions can create a partial suspension of operations on employers for purposes of the Employee Retention Credit (ERC). The IRS has been dealing with fraudulent and misguided applications surrounding a partial suspension of operations, including those caused by supply chain disruptions.

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Was the last meeting you had worth $2,000?

Accounting Today

How many inefficient meetings do we have in which 10 people, each billing out at $100 to $400 an hour, sit around talking about things without having a clear-cut objective or next steps from the meeting?

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Is AI Development and Adoption Outpacing Regulation?

Insightful Accountant

According to a new Xero survey, there are calls among small business owners for greater data protection and education, with 77% believing AI will have an impact on their business in the next five years.

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How to Build the Ideal HR Team

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.