Going Concern
JUNE 25, 2024
VC firm Andreessen Horowitz just did an interesting piece called “ Death, Taxes, and AI: How Generative AI Will Change Accounting ” that’s worth a read if you’re at all interested in this topic but most interesting of all (to us anyway) was this chart of early stage AI startups in this space. We suspect it won’t be long before a chart like this will require a looooong scroll to view.
Mark Lee
JUNE 25, 2024
One of the most common issues accountants raise with me is how can they stop getting caught out doing extra little bits of work for free? This has become more of an issue for many of them since they started quoting fixed fees. The issue comes up less often for those traditional accountants who still claim to charge clients by reference to the time spent on their affairs.
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CPA Practice
JUNE 24, 2024
By Sandi Smith Leyva. I often hear myself saying, “I need a form for this” in my business. Forms, samples, and templates streamline just about any process you can think of. With generative AI tools, you can now streamline the forms creation process itself. What Forms Do I Need? I asked ChatGPT what forms it recommended for a CPA firm. Here is the answer I got (since ChatGPT is nondeterministic, you won’t get the exact same answer I got.): For a CPA (Certified Public Accountant) firm, creatin
Accounting Today
JUNE 26, 2024
Accountants are adding AI tools to their work, saving time and becoming more efficient.
Speaker: Victor C. Barnes, CPA, MBA
In the climb from contributor to leader, the rules quietly change. But 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. 🗻 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. The higher you go, the more your effectiveness depends on how you connect, adapt, and communicate.
CPA Practice
JUNE 26, 2024
A new survey underscores the role that accountants play in motivating, determining, and implementing new solutions that modernize their work. This also helps ensure their organizations are competitive and compliant in a complex and dynamic environment, and aid the CFO and others in understanding the transformation imperative. These are part of the results from FloQast’s survey, Embracing Financial Transformation: What It Is, Why Organizations Should Want It, and How to Achieve It.
Accounting Today
JUNE 24, 2024
The Internal Revenue Service switched over from focusing its audits on taxpayers earning $10 million or more to those earning $400,000 or more after passage of the Inflation Reduction Act.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Going Concern
JUNE 26, 2024
We’re not talking about the high number of people who are sticking around at their firms right now because the market is so screwy but rather this is about respondents to a Pennsylvania Institute of CPAs survey they’ve called “ CPA Talent Retention 2024: Keeping Your Best Performers.” Almost three-quarters of the hundreds of PA CPAs surveyed said they would like to stay put.
CPA Practice
JUNE 25, 2024
By Darren Root, CPA, CITP, CGMA. What it takes to be a modern firm means different things to different people. Does it require having connected, collaborative cloud technology in place? A structured, current security plan? Offering a rich client experience? A healthy culture that supports remote work and flex time? The short answer is yes to all of the above—and more.
LSLCPAs
JUNE 25, 2024
Cost segregation continues to be an essential tax planning tool in 2024. By accelerating the depreciation allowed on a building, taxpayers can significantly reduce their taxable income in the initial years of property ownership. This strategy offers a substantial reduction in taxes, thereby boosting cash flow during the crucial early years of owning a building.
Going Concern
JUNE 27, 2024
Although it’s been out for more than a month, we haven’t had a chance to take a deep dive into Thomson Reuters’ 2024 State of Tax Professionals Report. We really should, and will, because A) it’s a great report and B) the profession is in such a state of change at the moment that what’s important now might be chopped liver come next year.
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.
RogerRossmeisl
JUNE 26, 2024
Are you an older taxpayer who owns a house that has appreciated greatly? At the same time, you may need income. Thankfully, there could be a solution with a tax-saving bonus. It involves taking out a reverse mortgage. Reverse mortgage basics With a reverse mortgage, the borrower doesn’t make payments to the lender to pay down the mortgage principal over time.
TaxConnex
JUNE 27, 2024
There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. ‘Fun’ with refunds. Two Penn State University students are using artificial intelligence to automate sales tax refunds for businesses, news reports said. The students designed a process with AI to remove the need of manually searching to find overpayment discrepancies.
Accounting Today
JUNE 25, 2024
Middle-class residents in these states pay a smaller percentage of their paychecks to taxes.
MyIRSRelief
JUNE 28, 2024
Tax audits can be a daunting experience for any taxpayer. The California Franchise Tax Board (FTB) conducts audits to ensure compliance with state tax laws and to verify the accuracy of tax returns. Understanding the audit process and knowing your rights can significantly ease the stress associated with an audit. One of the most effective ways to navigate a tax audit is by enlisting the help of an enrolled agent (EA).
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.
RogerRossmeisl
JUNE 24, 2024
There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in the person’s life and allowing the person to receive quality care. In addition, you could also be eligible for tax breaks. Here’s a rundown of four of them: Medical expenses. If the individual qualifies as your “medical dependent” and you itemize deductions on your tax return, you can include any medical expenses you incur for the person along with your own when determining your
BurklandAssociates
JUNE 25, 2024
Laying a strong legal foundation from the beginning can save your startup time, money, and headaches down the road. The post Legal 101 for Startups – What I Learned from My Discussion with Silicon Legal Strategy appeared first on Burkland.
Accounting Today
JUNE 28, 2024
Due to extensive interest, Accounting Today is extending the deadline for submissions for its annual Managing Partner Elite list to the end of the day on Monday, July 8.
CPA Practice
JUNE 28, 2024
The Department of the Treasury and the Internal Revenue Service have issued final regulations that provide taxpayers and tax professionals with guidance on how to report and pay the 1 percent excise tax owed on corporate stock repurchases. The Inflation Reduction Act imposed a new excise tax on stock repurchases equal to 1 percent of the aggregate fair market value of stock repurchased by certain corporations during the taxable year, subject to adjustments.
Advertiser: Paycor
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.
RogerRossmeisl
JUNE 24, 2024
The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are adjusted each year, based on inflation, and the adjustments are announced earlier in the year than other inflation-adjusted amounts, which allows employers to get ready for the next year. Fundamentals of HSAs An HSA is a trust created or organized exclusively for the purpose of paying the qualified medical expenses of an account beneficiary.
Withum
JUNE 28, 2024
Withum is proud to announce its 2024 New Partner Class. It’s my privilege to introduce Withum’s 2024 New Partner Class. We are celebrating these individuals for reaching a career milestone they have worked tirelessly toward. Each person on this list has exhibited a strong entrepreneurial spirit, dedication to their profession, and long-lasting grit that I am sure will propel them and our firm through many years of success.
Accounting Today
JUNE 26, 2024
The Internal Revenue Service isn't doing enough to help victims of identity theft receive their tax refunds, according to a report from National Taxpayer Advocate Erin Collins, and its statistics on answering phone calls are misleading.
CPA Practice
JUNE 24, 2024
You never want to turn down good work, or the opportunity to grow your client base and your business. But a recent industry survey found that 42% of accounting firms are doing exactly that. The reason? They can’t put anything more on their plate due to staffing shortages. Separate research from Robert Half for the 2024 Demand for Skilled Talent report confirms that most hiring managers for accounting and finance organizations (87%) are facing challenges recruiting talent right now.
Speaker: Cheryl J. Muldrew-McMurtry
Distributed finance teams are rewriting how the back-office runs, and attackers are taking notes. Disconnected workflows, process blind spots, and rising cyber threats are more than just growing pains—they’re liabilities. The challenge isn’t just going remote. It’s building resilient systems that protect accuracy, control, and speed across every transaction and touchpoint.
RogerRossmeisl
JUNE 26, 2024
The next quarterly estimated tax payment deadline is September 16 for individuals and businesses, so it’s a good time to review the rules for computing corporate federal estimated payments. You want your business to pay the minimum amount of estimated tax without triggering the penalty for underpayment of estimated tax. Four possible options The required installment of estimated tax that a corporation must pay to avoid a penalty is the lowest amount determined under one of the following four met
Withum
JUNE 25, 2024
Join us for this episode of Civic Warriors, where we speak with Sherry Wheelock, President and CEO of Special Olympics Florida, and Maryann Gonzalez, a Coordinator of Sports and an athlete at the Special Olympics Florida.
Accounting Today
JUNE 24, 2024
Test your accounting knowledge on state by state tax burdens, M&A, and more. No. 2 pencil not required!
CPA Practice
JUNE 27, 2024
By Dr. Sangeeta Chhabra Accounting firms are focusing on the tech stack and missing out on the talent stack. Implementing new technologies is one thing; however, the talent stack needs to be upgraded in parallel. Accounting firms are facing a talent shortage as most accounting professionals are shifting to fields like investment banking, consulting, and information technology.
Speaker: Frank Taliano
Documents are the backbone of enterprise operations, but they are also a common source of inefficiency. From buried insights to manual handoffs, document-based workflows can quietly stall decision-making and drain resources. For large, complex organizations, legacy systems and siloed processes create friction that AI is uniquely positioned to resolve.
RogerRossmeisl
JUNE 24, 2024
One of the types of occupational fraud schemes that became more costly for employers since the beginning of the COVID-19 pandemic in 2020 is expense reimbursement fraud. According to the Association of Certified Fraud Examiners’ (ACFE’s) latest report, this type of employee scheme now ranks fourth after corruption, billing schemes and noncash fraud.
Withum
JUNE 24, 2024
Exciting things are happening at Withum! As of July 1, a new class of leaders will take their places across the Firm’s industry, regional, and internal teams. These individuals were chosen for their technical expertise, leadership acumen and their dedication to living the Withum Way. As long-term members of these teams, this new leadership class is equipped with all the tools needed to continue the successes of their predecessors and continue to innovate for the future, keeping Withum at the for
Accounting Today
JUNE 26, 2024
Logan Graf is documenting his accounting firm's journey to eliminating busy season on his YouTube channel.
CPA Practice
JUNE 25, 2024
Garden City, NY-based KKM CPA Associates and the BDO affiliate firm in the United Arab Emirates were fined $25,000 and $20,000, respectively, by the Public Company Accounting Oversight Board (PCAOB) on June 18 for not following U.S. auditing reporting requirements. “When registered firms fail to comply with reporting requirements, it deprives investors of important information about those firms,” PCAOB Chair Erica Williams said in a statement.
Speaker: Claire Grosjean, Global Finance & Operations Executive
Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.
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