Sat.Jan 20, 2024 - Fri.Jan 26, 2024

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Six Things Accountants Wish Their Small Business Clients Knew

Insightful Accountant

Surrounded by a passionate group of QuickBooks Accountants, Bookkeepers and ProAdvisors, Dave Talach asked the question, "What's one thing you wish your small business clients knew?" Here are some of his favorite answers.

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IRS adds crypto question to more tax forms

Accounting Today

The Internal Revenue Service has revised the question it has asked in recent years about income from digital assets such as cryptocurrency on the Form 1040 for individual taxpayers this tax season and added it for the first time to tax forms for estates, trusts, partnerships and C and S corporations.

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The Ultimate Guide to Tax Resolution For Tax Professionals

Canopy Accounting

Learn everything there is to know about tax resolution in this ultimate guide and if it's something you should offer to your clients. See details!

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Inventory Management Strategies To Maximize Efficiency

AccountingDepartment

From a manufacturing perspective, inventory is everything for business owners that can significantly impact their financial well-being. That is why effective inventory management is of utmost importance for manufacturers or other businesses that keep things on the shelves.

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The Growth Architect: How Financial Leaders are Unlocking Potential

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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How can accountants harness artificial intelligence?

Reckon

The accounting profession will not be immune to recent and future advances in AI. There’s a lot of hand wringing out there in the accounting community, among others, about how AI might impact their jobs or even make them obsolete. This is the wrong way to think about AI. As with the advent of cloud computing, AI can be a boon to the profession and simply make the job more accurate and less labour intensive, freeing up accounting professionals to do more of the ‘human work’.

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What are SMBs Looking for in their Accounting Firm?

Insightful Accountant

A recent report from BILL, the Accounting Firm Hireability Index, highlights what small and medium-sized businesses (SMBs) are looking for when choosing and retaining their accountants.

More Trending

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Everything accountants need to know about PEOs

Accounting Today

Managing employees can be a major roadblock for growing businesses, but PEOs can help, and ADP's Kristen Appleman explains how they work and when they might be a good fit.

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3 Effective Digital Networking Strategies for Accountants

CPA Practice

Networking is essential for every accountant, and in the digital age, it’s easier than ever to make valuable connections in the field. While in-person events and meetings are still effective ways to network, many professionals are taking advantage of online networking opportunities. In fact, 40% of professionals say they network more online than in person.

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3 additional considerations for SaaS on managing sales tax obligations

TaxConnex

Sales and use tax generally applies to the sale or use of tangible personal property and certain services. Since software, and especially Software-as-a-Service, may not be delivered in a tangible form, many technology and software companies have considered themselves exempt from sales and use tax. But this is not always the case. In fact, many states impose sales and use tax on services provided by the technology industry.

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Treasury and IRS Issue Guidance on the Qualified Alternative Fuel Vehicle Refueling Property Credit

RogerRossmeisl

As reported via IR-2024-16 on 1/19/2024 The Internal Revenue Service and the Department of the Treasury today issued Notice 2024-20 to provide guidance on eligible census tracts for the qualified alternative fuel vehicle refueling property credit (the tax credit applicable to the installation of EV chargers) and to announce the intent to propose regulations for the credit.

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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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Tax Deadlines for Startups in 2024

BurklandAssociates

Tax deadlines for startups in 2024, including federal filing dates and key dates for San Francisco, New York, and Seattle. The post Tax Deadlines for Startups in 2024 appeared first on Burkland.

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Tax extenders bill throws new uncertainty into tax season

Accounting Today

The House Ways and Means Committee reported the text of the Tax Relief for Workers and Families Act after voting last week to advance the bipartisan bill.

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Hot Topics: Taxability | TaxConnex

TaxConnex

Clients often ask us, “How often should we evaluate the taxability of our products?” An annual review should work. Most states change their sales tax rate laws on either Jan. 1 or July 1, by the calendar year or by the fiscal year. But there are more than 10,000 jurisdictions in the U.S., and a ton of local jurisdictions with the authority from their states to change their individual tax rates.

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How to Get the California Franchise Tax Board to Accept Your Offer in Compromise

MyIRSRelief

The Offer in Compromise (OIC) is a powerful tool for taxpayers who are unable to pay their full tax liability. It allows taxpayers to settle their tax debt for less than the full amount owed, potentially saving them significant amounts of money. However, getting an OIC accepted by the California Franchise Tax Board (FTB) can be a complex and challenging process.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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F in the Chat For All the Clients Losing Their CPAs to Higher Fees This Year

Going Concern

An incredible phenomenon is underway, one that many tax pros have been begging their compadres to get on board with for years: CPAs are increasing their fees. In some cases so high that clients are pushing back, going their own way (rather, threatening to…they’ll be back), or shopping around for someone new. Surely they won’t have any problem finding someone who will do it cheaper!

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IRS and tax pros gird for filing season amid congressional uncertainty

Accounting Today

The Internal Revenue Service and tax professionals are preparing for the start of tax season Monday, hoping for a smooth filing season like last year, although last-minute tax law changes are possible thanks to a deal working its way through Congress to revive tax breaks like a more generous Child Tax Credit.

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IRS Redesigning Taxpayer Notices to Make Them Easier to Understand

CPA Practice

The Internal Revenue Service says it is working on the Simple Notice Initiative, a sweeping effort to simplify and clarify about 170 million letters sent annually to taxpayers. Part of the larger transformation work taking place at the IRS with Inflation Reduction Act funding, the Simple Notice Initiative will build off redesigned notice efforts in place for the 2024 tax season and expand on a recent successful pilot involving identity theft letters.

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Research & Development Tax Credits for the Food & Beverage Industry

Withum

The R&D Tax Credit is a tax incentive that can be applied as a dollar-for-dollar offset against a company’s tax liability if they engage in activities related to the design and development of a product, process, formula, invention, software, or technique within the United States. Additionally, start-up businesses with less than $5 million in gross receipts in the current taxable year and no gross receipts prior to the fifth previous taxable year (e.g., for 2023, the company must not have gro

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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RSM Reports Double-Digit Growth and Record Global Revenue of $9.4 Billion

Going Concern

RSM has shared their global revenue numbers for 2023 and like all firms their size, it’s broken a record. $9.4 billion for the year ended December 31, 2023 puts them a mere $26,600,000 behind fourth-place Big 4 KPMG ( $36 billion ) and exactly $40 billion behind actual Big 4 EY ( $49.4 billion ). As with all accounting firm revenue reports, we encourage the reader to exercise any and all skepticism as these numbers are unaudited.

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IRS aims to simplify tax notices

Accounting Today

The Internal Revenue Service unveiled a Simple Notice initiative Tuesday to review, redesign and deploy hundreds of its notices, starting with the most common ones.

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IRS Says Digital Asset Question Added to More Tax Forms

CPA Practice

In a news release today reminding taxpayers that they once again must answer a digital asset question and report all digital asset-related income when they file their 2023 income tax return, the IRS noted that it has included a crypto question on four additional tax forms ahead of filing season. The tax agency said on Monday that it has reworded the question that had already appeared at the top of Form 1040 , Individual Income Tax Return ; Form 1040-SR , U.S.

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Anders Unveils 2024 Charity of Choice: Memory Care Home Solutions 

Anders CPA

Anders employees nominate the not-for-profit organizations they’re involved with and passionate about every year to be considered for the firm’s Charity of Choice. The votes have been tallied and we’re excited to announce the 2024 Anders Charity of Choice is Memory Care Home Solutions! The Charity of Choice program, now in its 19 th year, supports the nominated organization with a combination of volunteer efforts and fundraising events.

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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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Grab the Barf Bag, Leadership Is Talking About ‘Purpose’ Again

Going Concern

With all the AI buzz dominating headlines these days , we almost forgot how much firms enjoy talking about purpose. Allegedly this is something very important to millennials, or it was when we started entering the workforce 20+ years ago but now that we’re old and codgery it’s been pinned on Gen Z. Gen Z doesn’t work for money, they work for purpose.

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IRS offers relief on Maryland college savings rollovers

Accounting Today

The Internal Revenue Service and the Treasury Department issued a notice to provide relief to parents who got snagged by problems with Maryland's prepaid college savings program.

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3 Strategies to Help CPA Firms Retain In-Demand Talent

CPA Practice

If employee retention isn’t already a priority focus for your CPA firm, you may want to make it one — and soon. Research from Robert Half found that 27% of finance and accounting professionals in the United States are either looking for a job right now or planning to do so in the next six months. That may not sound like a significant percentage. But could you afford to lose more than one-quarter of the best players on your team, especially during tax season?

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ROI – NJ Power List 2024

Withum

Withum is proud to share that New Jersey business publication ROI-NJ has named Bill Hagaman, Ed O’Connell, and Pat Walsh to their 2024 Power Influencer List in Accounting. Bill Hagaman , Partner and Immediate past Managing Partner and CEO, has been a member of the Firm’s management for over 30 years and specializes in merger and acquisition services and international business.

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O'Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

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Happy 100th Birthday to Plante Moran

Going Concern

Looks like our invitation to the big party got lost in the mail. On Saturday, January 20, Plante Moran celebrated 100 years in business, a milestone few organizations reach. Since its founding in 1924, the firm has grown from a sole accounting practitioner in a Detroit office to a billion-dollar audit, tax, consulting and wealth management firm with more than 3,800 professionals serving clients around the globe.

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RSM sees global revenue grow 16% to $9.4B

Accounting Today

Global fee income for accounting and audit services increased 15% to $3.6 billion, while RSM's tax revenues jumped 17% to $2.6 billion.

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The Accounting Technology Lab Podcast: CES Jan. 2024 Innovation Awards

CPA Practice

Randy Johnston and Brian Tankersley, CPA, offer their take on the best technologies at CES 2024 in Las Vegas in January. Check out their video on the best professional technologies from this year’s CES at [link]. We now offer this podcast with video: Transcript (Note: There may be typos due to automated transcription errors.) SPEAKERS Randy Johnston, Brian F.

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One Top 100 ProAdvisor's Experience at the Hector and Carlos Garcia Conference

Insightful Accountant

Top 100 ProAdvisor Laurie O'Neil shares her experience participating in an event hosted by Hector and Carlos Garcia last October.

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Harness the Potential of Your Enterprise Knowledge

The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.