Sat.Sep 07, 2024 - Fri.Sep 13, 2024

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Accounting Co-Sourcing: What Does It Mean and When Is It the Right Solution for Your Business? – Recording

Cherry Bekaert

What exactly is accounting co-sourcing? How is it different from outsourcing? During this CPE webinar, we will explore the differences and dive into how co-sourcing can benefit accounting departments of various sizes and when a co-sourcing model is an appropriate solution over outsourcing. Learning Objectives: Understand the definition of accounting co-sourcing Identify specific areas or projects where co-sourcing is appropriate Determine the right accounting solution model to support your organ

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Why Your Accounting Firm Needs Managed IT Services

CPA Practice

By Dr. Sangeeta Chhabra Efficiency and speed matter more than ever in today’s business environment—and for the majority of accounting firms. Managed IT services are a sure way to bring those elements to your practice. These services scale IT infrastructure to help accountants speed up accounting services, manage the workforce, adhere to global compliances, and lower operational costs.

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Can AI Solve the Talent Shortage and Win Over Gen Z in Accounting?

Accounting Insight

Cameron Ford, UK general manager at Silverfin, thinks it will – provided firms include HR in their strategy. According to the ATT, the UK accounting industry will experience a shortage of 60,000 accountants by 2050, with areas like Manchester and Nottingham already feeling the pinch. From my experience including a stint at a big four firm, and providing accounting software to the sector, I can’t argue with the trajectory.

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How CPAs Can Help Clients with Real Estate and Residential Changes

CPA Practice

By Nikki Buckelew, Ph.D. Accounting professionals are often called upon by their clients with questions concerning residential changes. Those nearing retirement or on a fixed income often need to know what the financial and tax implications might be should they sell a longtime family residence, a second home or real estate included in their portfolio.

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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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Office Supply Fraud is Sneaky, But Preventable

RogerRossmeisl

Office supply scams are a tricky type of vendor fraud that generally use behavioral psychology and often depend on poor intraoffice communications for their “success.” Although they may not result in huge financial losses for defrauded companies, falsified invoices can add up to many thousands of dollars. Fortunately, you can help prevent them. How scams are perpetrated Office supply schemes typically begin as telemarketing fraud, with someone calling your business to obtain your street address

CPA 222
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Tax Relief in Disaster Situations

Patriot Software

When disaster strikes, you have a lot on your mind. Your first thoughts might be of repairing damages and getting your business back up and running. But then, it hits you … Oh no, my taxes are due soon. Thankfully, there’s tax relief in disaster situations.

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More Trending

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Audit teams missed risks of material misstatement by banks

Accounting Today

The Public Company Accounting Oversight Board staff released a report Monday on last year's banking crisis.

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Essential Tips for Personal Branding on LinkedIn

Summit CPA

Donna Serdula, Founder and President of Vision Board Media and LinkedIn expert, joins the show to dive into the nuances of personal branding on LinkedIn.

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You Couldn’t Pay Me Enough to Make Accounting Sound Cool

Going Concern

As seen on Australian Financial Review , a university is handing out a total of $10,000 ($6,659 in freedom bucks) in prize money to any students who can make a compelling case for accounting as a career in a TikTok or Instagram Reel. The pitch: View this post on Instagram A post shared by Paul Andon (@bized2052) The contest is open only to UNSW students over the age of 18 who reside in Australia so no one in our audience get any bright ideas.

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What You Can Do About Workers’ Comp Fraud

RogerRossmeisl

Workers’ compensation insurance can provide medical care and financial assistance to employees who are injured or incapacitated at work. However, this important benefit is also subject to fraud perpetrated by dishonest workers. The Coalition Against Insurance Fraud says that 16% of workers’ comp claims are fraudulent, adding up to $9 billion in annual losses.

CPA 247
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Navigating Corporate Travel Changes Post-Pandemic

Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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Celebrating 100 Episodes of Startup Success with Lessons from a $3.2 Billion Exit

BurklandAssociates

Peter Reinhardt and Jeff Burkland share the inside scoop on Segment’s growth journey. Plus, an exciting look at the future of carbon removal with Charm Industrial. The post Celebrating 100 Episodes of <i>Startup Success</i> with Lessons from a $3.2 Billion Exit appeared first on Burkland.

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AICPA, NASBA propose competency-based path to CPA

Accounting Today

Instead of completing 150 credit-hours, this pathway would allow candidates with a bachelor's degree to earn their CPA by demonstrating their professional and technical skills.

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Bloomberg Tax Predicts 2025 Standard Tax Rates, Standard Deductions, and AMT

CPA Practice

Bloomberg Tax & Accounting has released its 2025 Projected U.S. Tax Rates, which indicate inflation-adjusted amounts in the tax code will increase 2.8% from 2024. This is about half the increase in 2024, and a significant drop from the 7.1% increase in 2023. The full report is available at: [link]. Bloomberg Tax’s annual Projected U.S. Tax Rates Report provides early, accurate notice of the potential tax savings that could be realized due to increases in deduction limitations, upward adjustm

Tax 127
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Understanding Taxes on Real Estate Gains

RogerRossmeisl

Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect ownership of real estate via a pass-through entity such as an LLC, partnership or S corporation. You may expect to pay Uncle Sam the standard 15% or 20% federal income tax rate that usually applies to long-term capital gains from assets held for more than one year.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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PwC Isn’t Used to Being Called Desperate But Here We Are

Going Concern

The news broke last week that PwC UK would start requiring its people in the office or at a client site for at least three days a week. Shortly after that came the extra detail that to ensure compliance with the policy, PwC would be gathering location data, including it in billable hour stats the firm already provides to its employees and passing this data along to career coaches.

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New BOI guidance issued for short-lived entities and foreign cos.

Accounting Today

Understanding these updates is critical in guiding the tens of millions of LLCs, closely held businesses, and other small-business clients through the complexities of beneficial ownership compliance.

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Focus & Flow: The ADHD Accountant’s Survival Guide

CPA Practice

One of the best developments over the past few decades is the growing awareness and understanding of neurodiversity. Attention Deficit Hyperactivity Disorder (ADHD) is one such form of neurodiversity that affects many people in the world. While often associated with children (affects about 11.3% of children in the US from ages 5 – 17 years), ADHD persists into adulthood for many.

CPA 126
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Cash or Accrual Accounting: What’s Best for Tax Purposes?

RogerRossmeisl

Your businesses may have a choice between using the cash or accrual method of accounting for tax purposes. The cash method often provides significant tax benefits for those that qualify. However, some businesses may be better off using the accrual method. Therefore, you need to evaluate the tax accounting method for your business to ensure that it’s the most beneficial approach.

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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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Accounting Seed Sponsors Dreamforce 2024, Following Major Product Launches, and Inc. 5000 Recognition

Accounting Seed

COLUMBIA, Md. – September 12, 2024 – Accounting Seed , a leading cloud-based accounting platform built on Salesforce, proudly announces its sponsorship of Dreamforce 2024. This prestigious event sponsorship comes on the heels of several significant product advancements for the company, including the launch of AP Automation , AR Automation and Multi-book Accounting.

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Opportunity zones and other gain deferral strategies save on taxes

Accounting Today

The OZ program allows investors to defer their capital gains from sales of appreciated real estate, stocks, businesses, personal residences, collectibles and even crypto through 2026.

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A Tax-Friendly Way for Businesses to Help Teachers with Supplies

CPA Practice

By Gary C. Smith. There is a good chance that many teachers are paying for classroom supplies with their own money. In these days of shrinking school budgets, they have become an expert in doing more with less. Probably, no one has told them that many of these same classroom supplies are available at no cost to teachers through something called a gifts in kind organization.

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Supreme Court: COLI Proceeds are Included in Business Value

RogerRossmeisl

A recent U.S. Supreme Court ruling resolves a circuit split on a business valuation issue — and it could have a major impact on the value of many closely held companies going forward. In Connelly v. IRS (144 S. Ct. 1406, 2024), the Court held that corporate-owned life insurance (COLI) designed to fund the redemption of a deceased shareholder’s stock under a buy-sell agreement should be considered a corporate asset when calculating the value of the decedent’s shares for purposes of the federal es

CPA 215
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Best Practices to Streamline Compensation Management: A Foundation for Growth

Speaker: Joe Sharpe and James Carlson

Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.

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SPECIAL EDITION: On The Brink With Castle Island

Withum

In this special edition of Cryptonomix, Mark Eckerle joins the On The Brink Podcast with Matt Walsh to discuss his digital asset and blockchain background and Withum’s journey into the digital asset space.

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Tax inflation adjustments expected to shrink

Accounting Today

Bloomberg Tax & Accounting projects that inflation-adjusted amounts in the Tax Code will increase 2.8% in 2025 — roughly half the increase in 2024 and down from 7.1% in 2023.

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Survey Results Are In: Charting the Future of Accounting

CPA Practice

By Chris Howard Executive Summary The accounting profession stands at the precipice of transformative change driven by rapid advancements in technology and evolving client expectations. This Canopy and CPA Practice Advisor survey asked respondents to share where they currently were and where they thought their firms would be three to five years from now on topics like automation, AI integration, workforce dynamics, remote work models, client interaction, digital transformation, security and more

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One Spouse’s Tax Errors May Qualify the Other for Innocent Spouse Relief

RogerRossmeisl

Navigating the complexities of tax law can be difficult, especially when faced with an unexpected tax bill due to the errors of a spouse or ex-spouse. The reason for such a bill has to do with the concept of “joint and several” liability. When a married couple files a joint tax return, each spouse is liable for the full amount of tax on the couple’s combined income.

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A Quick Historical Bookkeeping Cleanup

Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

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Can Anyone Help This Eager Applicant Figure Out Why They Can’t Get an Interview at Deloitte?

Going Concern

It’s truly a mystery why this is happening. The post Can Anyone Help This Eager Applicant Figure Out Why They Can’t Get an Interview at Deloitte? appeared first on Going Concern.

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Illinois CPAs meet to discuss major issues in profession

Accounting Today

Illinois CPA Society president and CEO Geoffrey Brown and chair Deborah Rood discussed some of the hot topics in the accounting profession during a recent ICPAS Summit.

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Retail Sales Grew in August as Inflation Decreased

CPA Practice

Retail sales increased again in August as consumer demand and easing inflation overcame slower job growth, according to the CNBC/NRF Retail Monitor , powered by Affinity Solutions, presented by the National Retail Federation. “Retail sales data shows that consumers continued to spend on household priorities in August,” NRF President and CEO Matthew Shay said.

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Working Remotely May Be Convenient, But May Also Have Tax Consequences

RogerRossmeisl

Many employees began working remotely during the pandemic and continue doing so today. Remote work has many advantages for employers and employees, and as a result, it’s here to stay in many industries. But it may also lead to some tax surprises, especially if workers cross state lines. Double taxation may occur It’s not unusual for employees to work remotely for an employer in another state.

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.