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.
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Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.
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.
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Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving 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
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).
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.
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
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.
CPA Practice
JUNE 28, 2024
Hosts Randy Johnston and Brian Tankersley, CPA, discuss several changes coming to QuickBooks in 2024, including in pricing and strategic changes in the organization. Use the video player below to watch, or the podcast player below to listen to the podcast. Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.
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.
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.
RogerRossmeisl
JUNE 24, 2024
When valuing a business, experts often look beyond the company’s financial statements. Management interviews and document requests may provide additional objective insight into how much the owners believe the business is worth. This information shouldn’t be used as a substitute for a comprehensive valuation analysis, but it may identify discrepancies that need to be reconciled.
CPA Practice
JUNE 24, 2024
By Henry Chandonnet, Fast Company (TNS) Gen Z is growing up in the age of AI-powered large language models like ChatGPT and Gemini AI. Now this generation of young workers born between 1997 and 2012 is quickly preparing for a fast-changing job market. Still, one problem plagues this upcoming cohort of workers: the AI gender gap. According to a new study from the Slack Workforce Lab , men ages 18 to 29 are 25% more likely to have experimented with artificial intelligence technology than their f
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 26, 2024
The International Sustainability Standards Board will improve the sustainability disclosure landscape by streamlining and consolidating frameworks and standards.
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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
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.
CPA Practice
JUNE 24, 2024
By Rocio Fabbro, Quartz (TNS) Gen Z is making less than millennials made a decade ago at the same age. As of the fourth quarter of 2023, Gen Zs aged 22 to 24 were making an average of $45,493. At that same age 10 years ago, adjusted for inflation, millennials were making $51,825, according to a recent study by TransUnion. And the debt-to-income ratio is 4 percentage points higher for Gen Z than millennials, coming in at 16.05% compared with 11.76%, the credit bureau found.
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
Summit CPA
JUNE 27, 2024
When your days-to-close increase, it’s easy to point a finger at the prospect: Businesses have less cash in the bank, especially now that PPP money has all been spent. They come to sales calls with more stakeholders and take longer to align on solutions. With more cooks in the kitchen, things inevitably slow down.
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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.
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
CPA Practice
JUNE 24, 2024
By Sarah Lynch, Inc. (TNS) During the week of the Fourth of July, your workers might be in the holiday groove long before their palm tree “vacationing” emojis pop up on Slack. Almost half of American workers say they have previously “quiet vacationed” around the Fourth of July holiday, according to a new survey of over 1,200 U.S. workers from the Harris Poll.
Insightful Accountant
JUNE 27, 2024
The number of participants in the ProAdvisor Awards grows each year, with more and more highly qualified ProAdvisors entering the mix. We hope you are one of them, but preparation for participation goes a long way at achieving recognition.
Accounting Today
JUNE 26, 2024
Banco Santander decided to renew its contract with PricewaterhouseCoopers, potentially keeping one of Europe's biggest such relationships with the firm until 2035.
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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