CPA Practice
AUGUST 22, 2023
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.
TaxConnex
AUGUST 24, 2023
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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BurklandAssociates
AUGUST 24, 2023
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.
CPA Practice
AUGUST 23, 2023
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.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.
Accounting Today
AUGUST 21, 2023
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.
Going Concern
AUGUST 23, 2023
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.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
ThomsonReuters
AUGUST 22, 2023
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.
Accounting Today
AUGUST 24, 2023
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.
AccountingDepartment
AUGUST 22, 2023
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.
TaxConnex
AUGUST 22, 2023
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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CPA Practice
AUGUST 25, 2023
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.
Withum
AUGUST 25, 2023
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.
Going Concern
AUGUST 25, 2023
The ranking enthusiasts at INSIDE Public Accounting have dropped their much-anticipated 2023 Best of the Best list and because there’s nothing we at Going Concern love more than a dick revenue-measuring contest, we are thrilled to share the results with you. First, let’s get the “what even is this list” explanation out of the way.
Accounting Today
AUGUST 24, 2023
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.
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.
CPA Practice
AUGUST 25, 2023
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.
ThomsonReuters
AUGUST 25, 2023
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
Going Concern
AUGUST 24, 2023
By Sharon Lassar, PhD, CPA (Florida) John J. Gilbert Professor and Director of the School of Accountancy, University of Denver A friend asked why I believe the 150-hour requirement is more of a barrier of entry to the accounting profession than a 120-hour requirement with added experience. That is a great question. Although, it does not matter what I think.
Accounting Today
AUGUST 25, 2023
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.
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
CPA Practice
AUGUST 25, 2023
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.
Withum
AUGUST 23, 2023
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.
Going Concern
AUGUST 23, 2023
Last year, 950 PwC UK equity partners were treated to record-breaking £1 million pound ($1.2 million) payouts, effortlessly beating the 2020 high of £868,000 and quite a leap from £765,000 in 2019. Sadly for them they won’t be cruising right past a million this year. Reports The Guardian : More than 1,000 partners at the UK division of the “big four” accounting firm PwC will be paid £906,000 this year, a slight fall on last year’s record payout as profits fell despite rising revenues.
Accounting Today
AUGUST 22, 2023
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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CPA Practice
AUGUST 25, 2023
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.
Ryan Lazanis
AUGUST 23, 2023
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.
Going Concern
AUGUST 22, 2023
Why is it every time mainstream media writes about accountants they just have to drag the stereotypes into it? Across the pond publication Evening Standard didn’t even try to hide it when writing up World Athletics Championships 100m badass Eugene Amo-Dadzie, ‘boring’ appears in the lede. It’s still a charming story. Everyone, meet the world’s fastest accountant.
Accounting Today
AUGUST 21, 2023
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.
Advertiser: Paycor
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CPA Practice
AUGUST 23, 2023
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.
ThomsonReuters
AUGUST 25, 2023
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.
Going Concern
AUGUST 24, 2023
In a little law and order news courtesy the Department of Justice, a law firm controller has pleaded guilty this week to inflating her payroll amount by $1.48 million over the course of three years. Her annual salary, her real annual salary, was approximately $140,000. Way to take the fight against low wages into your own hands, lady. The press release courtesy the U.S.
Accounting Today
AUGUST 24, 2023
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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"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.
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