Sat.Jul 06, 2024 - Fri.Jul 12, 2024

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Be Audit Ready: Essential Steps for Pension and OPEB Reporting

LSLCPAs

LSL Webinar “Back to Basics | Pension & OPEB for Beginners,” presented by Riley, CPA Greenlee & Krystal Cabrera , CPA lead you through the necessary steps on preparing for audits related to pension and Other Post-Employment Benefits (OPEB) reporting. In case you missed it – this article will guide you through the types of. The post Be Audit Ready: Essential Steps for Pension and OPEB Reporting appeared first on LSL CPAs.

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Tax Tools for Startups: Ensuring Compliance and Maximizing Benefits

BurklandAssociates

A guide to the tax tools in Burkland’s startup tax toolkit, grouped by the type of tax obligations they address. The post Tax Tools for Startups: Ensuring Compliance and Maximizing Benefits appeared first on Burkland.

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IRS fights misleading social media claims

Accounting Today

The Internal Revenue Service has stepped up efforts to combat dubious tax advice promoting schemes involving the Fuel Tax Credit, the Sick and Family Leave Credit, and household employment taxes.

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Debunking the Myths Can Help Firms Start Implementing AI

CPA Practice

By Shane Westra. Over the past several years, artificial Intelligence (AI) and machine learning technologies are becoming increasingly integrated into the daily operations of accounting firms. This change offers both challenges and opportunities, which is an important perspective to maintain as you navigate the adoption of AI in your practice with an eye on maintaining high levels of overall security.

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Why Tech-Forward Tax and Accounting Firms Have the Inside Track to the Future

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

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Most People Think Their Salaries Won’t Give Them Financial Security

CPA Practice

By Bruce Crumley, Inc. (TNS) Business owners facing employee requests for higher pay have plenty of reasons why they can’t increase salaries over current levels, and a new survey suggests another one. They may not be making enough money to feel financially secure themselves. A new poll shows that people across a wide range of revenue levels believe they need far higher incomes to feel financially secure—considerably more than businesses could possibly pay them.

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Art of Accounting: Growing by not learning

Accounting Today

When it comes to practice management, try to learn as much as you can from whatever source is available.

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Mastering Your Cash Flow Analysis for Financial Success

AccountingDepartment

Managing a business isn’t easy. Amongst juggling various roles and responsibilities, ensuring your financial health often becomes a daunting task. One powerful tool to help you stay on top is cash flow analysis.

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Automating Your AP Nightmare with Smart Data Extraction

Insightful Accountant

Many accounting professionals struggle with the time-consuming and error-prone task of managing accounts payable (AP). If you missed our recent App Academy , MakersHub presented how their innovative solution can revolutionize this critical process.

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The Fastest-Growing Firms: The secret sauce of growth

Accounting Today

Some of Accounting Today's fastest-growing firms share what turbo-charged their expansion over the past year.

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Half a dozen ways to mismanage sales tax | TaxConnex

TaxConnex

Sales tax compliance has many moving parts, not just in the filing but in everything that goes into making sure you stay on the legal side of the jurisdictions where you have sales tax nexus. Just remember, a lot can go wrong along the way. 1. Billing systems You charge the customers sales tax for online purchases, they pay and you remit the money to the tax jurisdictions.

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Live Demo - Supercharge your Month End Close

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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Understanding IRS Letter 725-B: Notice of Appointment to a Field Revenue Officer for Investigation

MyIRSRelief

Understanding IRS Letter 725-B: Notice of Appointment to a Field Revenue Officer for Investigation The IRS Letter 725-B, also known as the Notice of Appointment to a Field Revenue Officer (RO) for Investigation, is a formal communication from the Internal Revenue Service (IRS) indicating that a taxpayer’s case has been assigned to a revenue officer for further investigation.

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California Suspends NOLs and Limits Credit Utilization

Withum

Faced with California’s $45 billion budget deficit, Sacramento lawmakers continue to grapple with how to cure the shortfall. It comes as no surprise that in late June, the state’s Lt. Gov. Eleni Kounalakis, in her role as acting governor, and Gov. Gavin Newsom signed Senate Bills 167 and 175. The bills’ passage resulted in suspending the net operating loss deduction for businesses with greater than $1 million in income and limiting business tax credit utilization, along with other changes.

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IRS collects $1B from millionaires

Accounting Today

The agency is hoping to counter a widespread impression that people can get away without paying their taxes, according to Commissioner Werfel.

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AICPA News – July 2024

CPA Practice

AICPA News is a collection of recent announcements from the American Institute of CPAs and the Chartered Institute of Management Accountants. AICPA Recognizes Six Individuals with 2024 Outstanding Young CPA Award The AICPA & CIMA recently recognized six practicing CPAs under the age of 40 with the 2024 AICPA Outstanding Young CPA Award. Every year, these awards are given in memory of Maximo Mukelabai, a member of the inaugural class of the AICPA Leadership Academy whose life was tragicall

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Mid-Year Review: How to Ignite Employee Potential Through Meaningful Feedback

Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.

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It’s Official, Aprio Inked a Private Equity Deal

Going Concern

Announced 24 minutes ago via press release : Aprio (or the “Company”), a leading business advisory and accounting firm, today announced that it has received a strategic investment from Charlesbank Capital Partners (“Charlesbank”), a middle-market private investment firm with more than $18 billion of capital raised since inception, to accelerate innovation and growth of the business.

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Discover The Importance Of A Solid Business Plan For Your Contracting Company

Randal DeHart

Starting a construction business without a plan is like setting sail without a compass. While you might eventually reach your destination, the journey will likely be longer and more challenging. A well-constructed business plan is essential for guiding your business toward success. Here's why It Clarifies Your Vision A business plan helps you articulate the vision for your enterprise.

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Intuit plans to replace 1,800 employees

Accounting Today

The laid-off workers will be replaced by specialists in engineering, product, and customer-facing roles as part of Intuit's larger AI plans.

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AI Can Save Professionals 12 Hours Per Week, According to Thomson Reuters Report

CPA Practice

Professionals taking part in the Thomson Reuters 2024 Future of Professionals report predict that artificial intelligence (AI) has the potential to save them 12 hours per week in the next five years, or four hours per week over the upcoming year – equating to 200 hours annually. This timesaving potential is the equivalent productivity boost of adding an extra colleague for every 10 team members on staff.

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Your Accounting Expertise Will Only Get You So Far: What Really Matters

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.

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Mastering Financial Success for Your SMB

AccountingDepartment

Running a small to medium-sized business (SMB) comes with its own set of challenges and rewards. One of the most pivotal aspects of ensuring your business's success is strategic financial planning. While it might seem daunting, mastering this process can propel your business growth and profitability to new heights. This blog post will walk you through the critical steps in strategic financial planning tailored specifically for SMB owners.

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5 Reasons Your Business Needs a QuickBooks ProAdvisor

Ace Cloud Hosting

Navigating through QuickBooks and its extensive capabilities can be overwhelming, particularly for those without an accounting background. This is where a QuickBooks ProAdvisor comes in! A QuickBooks ProAdvisor is an.

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Tech news: CBIZ rolls out "D@ta NEXUS" suite

Accounting Today

Plus, Biller Genie launches QuickBooks Desktop integration, PayPal integration; and other accounting technology news.

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American Credit Card Debt Rises

CPA Practice

Vince Golle Bloomberg News (TNS) U.S. consumer borrowing increased in May by the most in three months, reflecting a jump in credit-card balances. Total credit outstanding rose $11.4 billion after a revised $6.5 billion gain in April, according to Federal Reserve data released Monday. The median forecast in a Bloomberg survey of economists called for an $8.9 billion increase for May.

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The Hidden Science Behind Why Finance Teams Resist Change—And How to Fix It

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.

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Are You Ready for July 31, 2024?

Insightful Accountant

Do you realize that July 31, 2024, is only 21 days away when Intuit will stop selling QuickBooks Pro and Premier to new subscribers? "What are you prepared to do?

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The Xero Beautiful Business Fund is back for 2024

Xero

We’re thrilled to announce the return of the Xero Beautiful Business Fund for 2024. With a prize pool of over NZ$750,000, the Xero Beautiful Business Fund is back to support small businesses and non-profits in seven countries with their growth plans and help drive future success. Small businesses are driven by dedicated and passionate individuals who work hard to contribute to their communities and their local economies.

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Founder Files: The reluctant entrepreneur

Accounting Today

Orumé Hays, founder of Hays CPA, wanted to make sure her future was never in someone else's hands.

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Retail Imports Continue to Rise, Despite Supply Chain Challenges

CPA Practice

Monthly inbound cargo volume at the nation’s major container ports is continuing to rise despite a variety of supply chain challenges, according to the Global Port Tracker report from the National Retail Federation and Hackett Associates. “Lulls between supply chain challenges seldom last long, and importers are currently looking at issues including high shipping rates, unresolved port labor negotiations and continuing capacity and congestion issues from the ongoing disruptions in the Red Sea,”

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Doing More With Less: The Modern Finance Miracle

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.

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App Aware: MyWorks

Insightful Accountant

MyWorks is an eCommerce integration app that can connect QuickBooks Online, QuickBooks Desktop, and Xero with WooCommerce and Shopify. Murph would like to make you 'App' aware of this highly functional tool if you're looking for an eCommerce app.

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David Hartley Appointed to the SIU Foundation Board of Directors

Anders CPA

David Hartley, CPA, CISA, advisory partner-in-charge at Anders CPAs + Advisors (Anders), has been appointed to the Southern Illinois University (SIU) Foundation Board of Directors effective July 1, 2024. With a distinguished career and a deep commitment to philanthropy, Hartley brings invaluable expertise to the Foundation’s mission of supporting SIU’s academic endeavors.

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Accounting Today news quiz: July 8

Accounting Today

Test your accounting knowledge on identity theft, sales tax reliance, and more. No. 2 pencil not required!

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Why Small Businesses Need This 2017 Tax Cut to Continue

CPA Practice

By Nathan Garden, The Charlotte Observer (TNS) It says a lot about our politics that very few of our leaders are talking about one of the most important issues. The small businesses that anchor our economy are about to face a devastating tax hike that will hurt workers and weaken communities. As the owner of one of those job creators—a third-generation family-owned manufacturing company in Cuba, Missouri—I’m calling on Washington, D.C., to wake up and protect the tax cut that small businesses de

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8 Pillars of Leadership Development

Great leadership development is the key to sustainable business growth. Are you ready to design an effective program? HR can use Paycor’s framework to: Set achievable goals. Align employee and company needs. Support different learning styles. Empower the next generation of leaders. Invest in your company’s future with a strong leadership development program.