Ryan Lazanis
OCTOBER 18, 2023
Discover how an online community can be a factor in securing more deals, improving client experience, and a differentiator for your firm. The post 9 Strategies to Differentiate Your Accounting Firm appeared first on Future Firm.
Accounting Today
OCTOBER 17, 2023
Young accounting and finance professionals have been seeing the highest turnover over the past two years and are most likely to leave their current jobs over the next year, according to a new report.
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CPA Practice
OCTOBER 17, 2023
By Bhairavi Parikh, CPA. Social Security is a program designed to offer retirement benefits and disability income to eligible individuals, as well as their spouses, children, and survivors. In 2023, an average of almost 67 million Americans per month will receive a Social Security benefit totaling about $1.4 trillion in benefits paid. Out of 67 million, 52 million are retired, 8.7 million are disabled, and 5.8 million are survivors.
TaxConnex
OCTOBER 19, 2023
Often as things change in sales tax – and they change often – one constant keeps lurching along. Tax jurisdictions love to send notices, and usually it’s to say “Boo!” and not just “Hi.” True, notices can simply be a way for tax jurisdictions to get in touch with you and require no fast action on your part. The scary-looking official piece of paper (if it even arrives on paper – many notices are electronic now) might only be informing you of something as routine as use of a new form or a reminde
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Companies are increasingly choosing to automate their month-end close process, hoping to get rid of manual activities, save time, and get control of the close. By allowing technology to take the wheel, finance leaders can streamline and optimize the close, leading to greater accuracy, reduced risk, and improved efficiency. This being said, it can still be difficult to find the best month-end close solution for your team.
Going Concern
OCTOBER 19, 2023
“The number-one trend is that the candidate is in complete control…because the unemployment rate is lower in accounting and finance than it’s ever been.” That’s a quote from a Robert Half recruiter in the Talent Retention in the U.S. Accounting and Finance Profession study released a few days ago, a collab between IMA and Robert Half (and about two dozen research partners, mostly state societies).
CPA Practice
OCTOBER 16, 2023
By Nellie Akalp. Accountants are crucial for guiding clients through the various financial and administrative aspects of running a business. Tasks like meeting minutes might not be the most exciting part of running a business, but they are crucial for ensuring transparency, accountability, and legal compliance. As the year-end approaches, your business clients must ensure they have taken proper meeting minutes.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Accounting Today
OCTOBER 16, 2023
Many partners say the quality of the tax returns they were given to sign was not satisfactory, and they found many more errors than they considered acceptable.
Accounting Today
OCTOBER 17, 2023
The Internal Revenue Service plans to run a limited pilot test of its free online tax system in 13 states next tax season, but it will only support certain tax credits.
Summit CPA
OCTOBER 19, 2023
Virtual CPA Success Show Podcast Episode 102 If you’re thinking about finding a specific niche for your agency but not sold on the benefits, this episode is for you! Jamie sits down with Logan Hoffman, Senior Business Strategist at Madison Avenue Collective (MAC) to talk niching. They discuss the importance of building verticals and specializing in a specific area to make work more efficient and effective.
RogerRossmeisl
OCTOBER 19, 2023
When it comes to fraud, it may seem there’s nothing new under the sun. Unfortunately, fraud perpetrators are always finding novel ways to swindle businesses. Here are some recent scams — and how your business can protect against them. Influencer shakedowns Scam: So-called social media influencers ask restaurants and bars for complimentary meals and drinks in exchange for “free” publicity on platforms such as TikTok and Instagram.
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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.
MyIRSRelief
OCTOBER 16, 2023
When it comes to navigating the complex world of taxes, understanding deductions and credits is like having a secret treasure map to unlock potential savings. Tax deductions and credits are powerful tools that can help individuals and businesses reduce their tax liabilities, putting more money back in their pockets. In this comprehensive guide, we will explore a wide array of deductions and credits available to individual and business taxpayers, shedding light on the financial opportunities they
Accounting Today
OCTOBER 20, 2023
The Internal Revenue Service is making improvements to its online tax professional accounts and hiring more accountants as it ramps up enforcement.
Withum
OCTOBER 19, 2023
The IRS announced a processing moratorium on employee retention credit (ERC) claims on September 14, 2023. As part of that press release, the IRS announced that it was planning to issue two different settlement initiatives in the coming weeks/months. The first is a settlement program for taxpayers whose ERC claims have already been processed and paid, and the taxpayers deposited the check(s).
CPA Practice
OCTOBER 18, 2023
Technologists Randy Johnston and Brian Tankersley, CPA, discuss how a new generation of computing will impact accounting firms. Use the podcast player below to listen. Transcript (Note: There may be typos due to automated transcription errors. Also, due to the intro to the podcast, add apx. 10 seconds to the time stamps below.) SPEAKERS Randy Johnston, Brian F.
Advertiser: Paycor
These calendars provide pay period dates and paydays for biweekly, semi-monthly, and monthly payroll in 2024. Use them as a reminder or share with employees so they can celebrate payday.
Going Concern
OCTOBER 20, 2023
Ed. note: A reader sent in this thought-provoking essay on their experience as a CPA. In it the author covers their introduction to accounting, the impact the pandemic had on their goals, and the all too familiar feeling of watching your peers make buckets of money in other careers while you grind away in public. If you take nothing else from it, read this quote: “I hope that individuals can work to widen the pipeline to the point that anyone who has ever even THOUGHT about pursuing the CP
Accounting Today
OCTOBER 19, 2023
The Internal Revenue Service is giving employers a way to rescind inaccurate claims for the Employee Retention Credit if they've fallen victim to a scam at the hands of so-called "ERC mills.
Reckon
OCTOBER 18, 2023
This week we sat down to have a chat with Reckon’s partner of the year, Clayton Oates. Clayton is the founder of QA Business , a leading accounting professional and a prolific keynote speaker. Focused on educating other accounting professionals and adept at building partnerships, we wanted to hear Clayton’s thoughts on how to foster great professional networks and how he views the technological future of accounting.
CPA Practice
OCTOBER 19, 2023
More than a month after the IRS said it was temporarily shutting down the processing of employee retention credit (ERC) claims due to a surge of questionable submissions, the agency on Thursday offered steps small businesses can take to cancel their tax credit claim if they have doubts about its legitimacy. The new withdrawal option allows certain employers that filed an ERC claim but have not yet received a refund to rescind their submission and avoid future repayment, interest, and penalties.
Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence
In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.
Going Concern
OCTOBER 17, 2023
The 2023 AICPA Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits report (short: Trends report) was released last week and spoiler alert, it’s dark. There’s a ton to dig into, while we’re doing that here’s a taste. This is all anyone cares about anyway right? Says the AICPA, bachelor’s degree completions in accounting dropped 7.8% from 2021–2022 after steady decline of 1-3% per year since 2015–16.
Accounting Today
OCTOBER 16, 2023
The National Association of Enrolled Agents is asking the Internal Revenue Service to resume sending reminder notices immediately to non-filers and those with balances due of more than $10,000.
Insightful Accountant
OCTOBER 17, 2023
By extending Analytics Warehouse, NetSuite hopes to help customers gain greater and faster value from their data. Companies are using the newly enhanced AI-powered features of NSAW to simplify data management and access greater insights.
CPA Practice
OCTOBER 16, 2023
By Daniel F. Rahill, CPA/PFS, JD, LL.M., CGMA Since the beginning of the COVID-19 pandemic, median home prices in the United States have skyrocketed, increasing by 41.6% from March 2020 to July 2023 as inventories have declined, according to the National Association of Realtors. The pandemic-driven shift to remote work, increasing demand for suburban and rural homes, and formerly low interest rates combined to accelerate demand and home values.
Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem
How do you know if your accounting team is ready to automate the month-end close? Join us in this informative webinar, where we share the top 8 signs that indicate that a team has outgrown all existing tools and may be ready to embark upon month-end close automation. We will examine the process clues that help determine whether your team would be a good candidate for automation.
ThomsonReuters
OCTOBER 19, 2023
Jump to: Who does the Corporate Transparency Act affect? Who needs to file Beneficial owners Company applicants When do reports need to be filed for the Corporate Transparency Act? The Corporate Transparency Act’s impact on tax and accounting professionals Implementation and compliance challenges Embracing the Corporate Transparency Act The Corporate Transparency Act (CTA), enacted in 2021, was passed to enhance transparency in entity structures and ownership to combat money launde
Accounting Today
OCTOBER 19, 2023
DCG's Genesis unit is accused in the suit of failing to adequately audit the Three Arrows Capital hedge fund and lying to Gemini when it claimed to regularly review its borrowers' financial statements,
Going Concern
OCTOBER 19, 2023
An “event” is putting it lightly. As you all know by now the PwC Australia tax scandal continues to claim victims and slander the good name of consultants everywhere. In yet another senate inquiry last week, former CEO Luke Sayers got beat up a little by senators sick of hearing “I don’t recall” from former and current senior leadership: Something else came out of those hearings, too.
CPA Practice
OCTOBER 20, 2023
Accounting and finance professionals in the U.S. are leaving their jobs at a significant rate, with millennials and Generation Z leading the exodus, according to a new report from the Institute of Management Accountants (IMA) and staffing firm Robert Half. The report, Talent Retention in the U.S. Accounting and Finance Profession , based on a survey of 1,236 current and former accounting and finance professionals and academics in the U.S., reveals that professionals ages 18 to 36 experienced the
Speaker: Erika R. Bales, Esq.
When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.
Withum
OCTOBER 16, 2023
The number of cyber incidents within the healthcare industry has continued to increase, ranging from isolated incidents to targeted attacks that have grown in their material impacts. Hospitals and medical practices that fall victim to cyber-attacks can be left figuring out how to operate without their daily information systems. This has led to patientsreceiving incorrect medicine dosages, delayed operations, and diverted healthcare, such as ambulances being rerouted to other facilities, threaten
Accounting Today
OCTOBER 19, 2023
New cybersecurity rules from the Securities and Exchange Commission are already prompting companies to put more emphasis on the topic in their disclosures.
Insightful Accountant
OCTOBER 16, 2023
As the last piece in our QuickBooks Desktop 2024 series, Murph is giving us another of his favorite feature picks or, as he likes to call them, "his favorite newbies.
CPA Practice
OCTOBER 19, 2023
Payroll, HR, and benefits software provider ADP has launched a human capital management solution specifically for the unique needs of construction firms. ADP Workforce Now for Construction includes features for job costing, payroll, HR, worker development, managing government compliance and reporting, worker recruiting and retention, union management, and multi-job site management.
Advertiser: Paycor
On August 30, 2023, the DOL unveiled a proposed overtime rule that would raise the weekly salary threshold under the Federal Labor Standards Act. Paycor is closely monitoring the proposal and will provide updates as new information becomes available.
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