CPA Practice

SEPTEMBER 5, 2023

Joseph Graziano, CFP®. Accountants are part of an evolving industry where 82% of accountants agree that client expectations have widened. If you’re behind the trends, you risk becoming “obsolete.” Clients may still need your services, but they want an accountant to go the extra mile for them. Preparing for tomorrow can help you situate your firm to be: Streamlined Profitable today and in the future Sellable in the future (if that’s something you ever consider) You can begin prepping for the futu

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Accounting Today

SEPTEMBER 5, 2023

The service's LB&I Division has expertise in training agents on examining high-income taxpayers, but the IRS doesn't appear to be leveraging this expertise.

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audit Tax 125

Insightful Accountant

SEPTEMBER 4, 2023

Murph clues you in on why the Top 100 2024 process will still award points for QuickBooks Desktop Point-of-sale ProAdvisor Certification even if Intuit drops the certification after it stops supporting QBPOS on Oct. 3, 2023.

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RogerRossmeisl

SEPTEMBER 4, 2023

More than a million Americans live in nursing homes, according to various reports. If you have a parent entering one, you’re probably not thinking about taxes. But there may be tax consequences. Let’s take a look at five possible tax breaks. 1. Long-term medical care The costs of qualified long-term care, including nursing home care, are deductible as medical expenses to the extent they, along with other medical expenses, exceed 7.5% of adjusted gross income (AGI).

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Tax Healthcare CPA 245

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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

Finance

BurklandAssociates

SEPTEMBER 5, 2023

An active approach to treasury management can help startups reduce financial risk while putting excess cash to work. The post Dimensions of a Basic Treasury Policy for Venture-Backed Startups appeared first on Burkland.

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Accounting Today

SEPTEMBER 5, 2023

The IRS is starting to get more interested in who prepared a claim for the Employee Retention Credit.

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audit Tax 137

CPA Practice

SEPTEMBER 6, 2023

By Elissa Miolene – Bay Area News Group (via TNS). More than 4 million student loan borrowers are enrolled in the Biden Administration’s new income-driven repayment plan, including nearly 332,000 borrowers in California. “We’re not just lowering payments for today’s borrowers,” said Education Department Under Secretary James Kvaal. “We’re making paying for college more affordable for millions of future students.

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RogerRossmeisl

SEPTEMBER 4, 2023

As reported in IRS News Release IR-2023-157 The Internal Revenue Service announced that starting 1/1/2024, businesses are required to electronically file (e-file) Form 8300, Report of Cash Payments Over $10,000, instead of filing a paper return. This new requirement follows final regulations amending e-filing rules for information returns, including Forms 8300.

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CPA Practice

SEPTEMBER 4, 2023

Who says you can’t have “too much” money? The Internal Revenue Code imposes a little-known tax for accumulating too much in the way of earnings in a company’s coffers. However, you can avoid this so-called “accumulated earnings tax” if you keep a close watch on your cash flow during the year, The accumulated earnings tax must be paid in addition to the regular corporate income tax.

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Tax income tax Technology business tax 98

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.

accounting and finance

Accounting Today

SEPTEMBER 8, 2023

Following a top-to-bottom review of enforcement efforts, the agency is shifting more attention from working-class taxpayers to high-income earners, partnerships, large corporations and promoters of abusive tax shelters.

Tax 130

Tax tax accountant audit accountant 130

Going Concern

SEPTEMBER 8, 2023

We’ve received this tip a few times now from a few different people, time to throw it to dogs and see if anyone knows more. Here’s the original, slightly edited to protect anonymity: Plante Moran, CBIZ, Marcum, Armanino, and a couple of other large public firms will no longer be serving public clients. It does look like CBIZ has left or is leaving the space.

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RogerRossmeisl

SEPTEMBER 4, 2023

Have you ever wondered whether the photo or video you’re viewing, the audio you’re listening to or the article you’re reading is real? Artificial intelligence (AI) can make the line between authentic and inauthentic hard to determine. For fraud perpetrators, the ability to create deepfakes, voice clones or machine-generated communications can make their scams far more compelling — and effective.

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CPA Practice

SEPTEMBER 7, 2023

A new report from Xero , the global small business platform, shows that 48% of U.S. small business owners have experienced an extreme or high impact from inflation on their cash flow over the past six months, and 44% expect inflation to continue to have a similar impact throughout the next six months. Xero’s report, titled “ Money Matters: The impact of economic conditions on the cash flow of US small businesses “, interviewed more than 500 small business owners across the United States on the

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accounting software Technology accountant accounted 124

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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.

bookkeeping

Accounting Today

SEPTEMBER 6, 2023

The ADP Research Institute released a report on how worker promotions can affect businesses and employee retention and debuted a new index for tracking employee motivation and commitment.

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Insightful Accountant

SEPTEMBER 7, 2023

Intuit increased QuickBooks Payments rates for QuickBooks Desktop users this past June. Now, it is making increases for Payments Customers using QBO effective in October.

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quickbooks 119

RogerRossmeisl

SEPTEMBER 4, 2023

If you operate your small business as a sole proprietorship, you may have thought about forming a limited liability company (LLC) to protect your assets. Or maybe you’re launching a new business and want to know your options for setting it up. Here are the basics of operating as an LLC and why it might be a good choice for your business. An LLC is a bit of a hybrid entity because it can be structured to resemble a corporation for owner liability purposes and a partnership for federal tax purpose

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CPA Tax business tax 245

CPA Practice

SEPTEMBER 6, 2023

By Gail Cole. Not many people had heard of a non-fungible token (NFT) a decade ago, yet by 2021, NFT art was selling for millions. Everydays: The First 5000 Days sold for $69.3 million in March 2021, The Merge for a whopping $91.8 million nine months later. That kind of money could turn any tax official’s head. But is the sale of an NFT subject to tax?

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Washington Pennsylvania Technology Tax 121

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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.

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Accounting Today

SEPTEMBER 8, 2023

The Internal Revenue Service is leveraging artificial intelligence to detect tax evasion as it uses the extra funding from the Inflation Reduction Act to ramp up compliance efforts.

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audit Tax 129

Insightful Accountant

SEPTEMBER 6, 2023

Check out APD's Kristen Appleman take on the latest trend helping today's small business owners get an edge—Going Big. You can listen to the Workforce News Minute here.

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RogerRossmeisl

SEPTEMBER 4, 2023

Do-it-yourself business valuations and the use of unqualified financial experts can increase the odds of making an error, misstatement or erroneous deviation from customary valuation practice. These faux pas could trigger (or worsen) an IRS inquiry or perhaps lead to an embarrassing courtroom mishap. Here are three common valuation pitfalls that qualified valuation professionals are specifically trained to avoid.

CPA 251

CPA 251

CPA Practice

SEPTEMBER 8, 2023

In an initial decision announced on Sept 8, 2023 , the Federal Trade Commission’s chief administrative law judge, D. Michael Chappell, ruled that Intuit Inc., the maker of the popular TurboTax tax filing software, “… engaged in deceptive advertising in violation of Section 5 of the FTC Act” and deceived consumers when it ran ads for “free” tax products and services for which many consumers were ineligible.

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tax preparation Tax income tax 119

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Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.

Expense Management

Accounting Today

SEPTEMBER 6, 2023

Corporate tax departments are going through major transformation in response to the challenging legal and regulatory environment, according to a new survey from Deloitte.

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Tax corporation tax Legal 130

Canopy Accounting

SEPTEMBER 8, 2023

It’s October, the spookiest time of the year.especially for accountants, considering Oct. 15 is a pretty scary day. Now that the 15th is behind us (thank heavens) it’s time to focus on the more fun parts of the month: Halloween activities! We already gave you advice on some fun accounting-themed Halloween costumes , but now it’s time to share our wisdom about another important October activity.pumpkin carving!

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accountant accounted Account 105

RogerRossmeisl

SEPTEMBER 4, 2023

An estimated 190 million Americans have recently been under heat advisory alerts, according to the National Weather Service. That may have spurred you to think about making your home more energy efficient — and there’s a cool tax break that may apply. Thanks to the Inflation Reduction Act of 2022, you may be able to benefit from an enhanced residential energy tax credit to help defray the cost.

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Tax CPA 241

CPA Practice

SEPTEMBER 7, 2023

Technologists Randy Johnston and Brian Tankersley, CPA, discuss the most recent and urgent security and technology risks that accounting, tax, and other financial firms face. Use the podcast player below to listen.

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Technology CPA Tax accountant 119

Speaker: Duke Heninger

With the rise of fractional finance roles, many CFOs, FP&A professionals, controllers, and accountants are stepping into independent consulting. The expansion of fractional services presents new opportunities for finance professionals, but many face challenges in navigating this transition, finding it daunting. Whether you’re new to fractional work or refining your approach, this webinar will equip you with a repeatable system for success.

accounting and finance

Accounting Today

SEPTEMBER 6, 2023

The Financial Accounting Standards Board voted to adopt its eagerly awaited standard for cryptocurrency like Bitcoin held by companies.

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Xero

SEPTEMBER 6, 2023

For the fifth year in a row, Xero has taken out Canstar’s Most Satisfied Customer Award for small business accounting software. This is an incredible achievement, showcasing our value to small businesses across Aotearoa New Zealand. Canstar Blue is a customer satisfaction research and ratings business aimed at helping consumers make better purchasing decisions.

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Going Concern

SEPTEMBER 8, 2023

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. See ya. News KPMG halves pay for US partners on gardening leave amid poaching war [ Financial Times ] KPMG’s US partners have been told that they will be put on 50 per cent pay during six months of gardening leave if they quit t

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