Sat.Mar 16, 2024 - Fri.Mar 22, 2024

article thumbnail

Employee Retention Tax Credit Penalty Relief

RogerRossmeisl

We are finding that, all too often, taxpayers that make Employee Retention Tax Credit (ERTC) claims by engaging a so-called “ERTC Mill” are never told of their responsibility to amend their applicable prior year federal income tax return(s), and are shocked to learn that they owe additional taxes, penalties and interest. In order to offset their wage expense for the amount of the credit claimed, taxpayers who file an amended Form 941-X to claim an ERTC refund must simultaneously file an amended

tax 100
article thumbnail

Weekend Discussion: Private Equity is Good, Bad, or Ugly For the Accounting Profession?

Going Concern

The big story this week by a long shot was yesterday’s news that New Mountain Capital has taken a majority stake in Grant Thornton. When I say big I mean HUGE. Having written for this website for 15 years while observing the accounting profession from the sidelines and playfully making fun of Grant Thornton the entire time, I was not expecting that story to blow up the way it did.

account 105
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Making QBO more like QuickBooks Desktop

Insightful Accountant

As a part of the enhanced emphasis for QuickBooks users to migrate from Desktop to Online, Intuit is actually making changes in QBO to 'make it more like desktop.

article thumbnail

Why Poor Job Interviews Hurt Both Employers and Job Seekers

CPA Practice

By H. Dennis Beaver, Esq., Kiplinger Consumer News Service (TNS) “One of the things that can lead to an employment lawsuit,” observes Southern California-based labor law attorney Jay Rosenlieb, “is a failed interview that resulted in a job offer. “Often the ‘hiring manager’ is a long-term employee with no training in how to conduct a proper, focused interview, hired the applicant based on liking them and not on whether they could do the job, would be a good fit or had the necessary experience.

article thumbnail

How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

article thumbnail

Fallen tech star Lynch in fight to avoid prison for fraud

Accounting Today

It would cap a remarkable downfall for Mike Lynch if he's convicted of accounting fraud after he sold his startup Autonomy to Hewlett Packard for $11 billion.

account 60
article thumbnail

Lara Waldner Named Woman to Watch on Broadway by Broadway Women’s Fund

Withum

Withum is excited to share that Lara Waldner , CPA, Team Leader of the Theatre and Entertainment Services Team, has been named on the Broadway Women’s Fund list of Women to Watch on Broadway. Lara’s expertise is in providing auditing, accounting and consulting services to commercial theatrical productions and not-for-profit organizations in the theatre and entertainment space.

More Trending

article thumbnail

New Washington State Payroll Tax Targets Long-Term Care Expenses

CPA Practice

By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) There’s another new tax in the state of Washington. The state’s Supreme Court recently upheld a controversial capital gains tax , which has been re-challenged in court and could be on the state’s ballot in November for potential repeal. Now, a first-of-its-kind state payroll tax aims to assist eligible families with a significant challenge—long-term care costs—through a Washington Cares program.

article thumbnail

Building a more attractive profession 

Accounting Today

Seth Fineberg shares the three areas that accounting needs to address to make the profession more attractive to young talent.

account 67
article thumbnail

Mastering ERP Success: Two Essential ERP Implementation Best Practices

Withum

Enterprise Resource Planning (ERP) implementation is a complex process requiring significant investment in resources, time and money. An ERP system is designed to help organizations streamline their business processes, increase efficiency and achieve their strategic goals. However, an ERP implementation can also be challenging, and organizations may face issues such as cost overruns, delayed timelines, and unexpected problems.

article thumbnail

Justify Your Spending — Grant Expenditures

Cherry Bekaert

As a grant recipient, it’s important to ensure the money is being spent effectively and efficiently when it comes to the costs related to grant expenditures. However, justifying grant expenditures can be a complex and time-consuming process. Hosts Kimberly Konczack, an Advisory Manager at Cherry Bekaert, and Shuo Zhang, Manager, are joined by Kat Kizior, Senior Associate, and special guest Anthony Walsh, Senior Manager.

auditor 52
article thumbnail

No-Code Technology: The Key to Unlock the Future of Your Business

Global economies are reeling from recent upheavals—pandemic aftershocks, geopolitical conflicts, and a tech sector crunch. Mark Zuckerberg's 2023 "Year of Efficiency" ethos extends into 2024, with leaders seeking cost reductions without stunting growth. No-code technology emerges as a beacon of hope, fostering resilience and adaptability. Platforms like Make.com and Zapier empower even non-technical staff to automate and innovate, freeing IT for strategic tasks.

article thumbnail

Personalized Client Surveys Can Create Stronger Relationships

CPA Practice

With tax season nearly over, it’s a great opportunity to understand more about your client’s experience. A client satisfaction survey can help you do that. Personalized customer surveys are a powerful tool in garnering this essential information, enabling you to tailor your firm’s products, services, and communication effectively. Let’s delve into best practices for crafting these surveys, recommended software tools, suggested top questions to include, and a sample email to send to your clients

cpas 52
article thumbnail

Deloitte revamps structure to cut costs in tough market

Accounting Today

Deloitte is looking to overhaul its structure as the professional services firm looks to cut costs ahead of a market slowdown, according to the Financial Times.

article thumbnail

How Xero can support you with Basis Period Reform

Xero

In Xero we’ve improved how you adjust your financial year-end settings. To see the latest changes check out this article – setting up your organisation’s financial settings. The start date for Basis Period Reform is fast approaching. From April 2024, your sole trader and partnership clients will need to follow a tax year basis for Income Tax as part of HMRC’s Basis Period Reform.

article thumbnail

How to Improve Your Trucking Company’s Profit Margin

Anders CPA

Operating a business in the trucking industry has always been a challenge, but recent years have been exceptionally difficult. Fuel costs, labor costs, and equipment costs are all sky-high. This environment has created opportunities for some with significant consolidation among trucking companies. Yet household names in the industry that existed for nearly 100 years have completely gone out of business.

article thumbnail

Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

article thumbnail

Deloitte Revamps Structure to Slash Costs in Tough Market

CPA Practice

By Irina Anghel, Bloomberg News (TNS) Deloitte is looking to overhaul its structure as the professional services firm looks to cut costs ahead of a market slowdown, according to the Financial Times. The move will see the firm reorganize its main business units down to four arms from five, the paper said, citing a person familiar with the matter. They are audit and assurance; strategy, risk and transactions; technology and transformation; and tax and legal.

audit 52
article thumbnail

10 Best Practice Management Software — 2024

Canopy Accounting

With the technological transformation that's taking place in the business landscape, the importance of having the right practice management software has never been more critical for the accounting industry.

article thumbnail

An Introduction to SOC 2 Reports

Cherry Bekaert

In the latest episode of Cherry Bekaert’s Risk & Accounting Advisory podcast series, Neal Beggan , is joined by Steven Ursillo and Dan Sembler , both partners in our Information Assurance & Cybersecurity practice. During this episode they discuss the many benefits of Service Organization Control (SOC) 2 reports, such as security insights, gaining customer trust and risk management, and how those benefits bring value to a company.

account 52
article thumbnail

Court stays SEC climate rule

Accounting Today

A federal court has temporarily halted the Securities and Exchange Commission's climate-related disclosure rule in response to a lawsuit from a pair of fracking companies.

account 52
article thumbnail

Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

article thumbnail

Retail Industry is Largest Private Employer Segment in U.S.

CPA Practice

The retail industry supported 55 million full-time and part-time jobs in 2022, accounting for 26% of total U.S. employment, according to a new report released today by the National Retail Federation. The figures are up from 52 million jobs and 25% of total U.S. employment in 2018. Conducted by PwC, The Economic Contribution of the U.S. Retail Industry examines the direct, indirect and induced contribution of the retail industry to the U.S. economy.

Retail 52
article thumbnail

Summer Series reflections: making the most of XSBI in your practice

Xero

Recently, small businesses have had to navigate some pretty significant headwinds in the macroeconomic environment. Persistent inflation has led to rising interest rates, flowing through to slowing economic growth. The unemployment rate is still low, which is great news… except if you’re a small business looking for staff. Yes, these issues are all featured widely in the media.

article thumbnail

Quadient Partner Program Extends to CCM and Financial Automation Solutions for Wider Customer Engagement

CPA Practice

Quadient is expanding its Quadient Experience Partner Program to include the company’s financial automation solutions. Previously focused on Quadient’s CCM solutions, the new program brings more value to partners while expanding the reach of Quadient’s cloud solutions’ rich features and functions to more customers. Currently, more than 100 business and technology partners collaborate with Quadient on delivering and integrating with the company’s CCM and document automation solutions, Quadient In

article thumbnail

AICPA Accounting Scholars Leadership Workshop Aims to Help Expand Diverse Talent Pipeline

CPA Practice

AICPA & CIMA are accepting applications for their annual Accounting Scholars Leadership Workshop (ASLW), an event that provides instruction, advice and guidance to diverse college and university students interested in a career in accounting and finance. The program also demonstrates the value these students would add to the growth and development of the profession.

account 52
article thumbnail

Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

article thumbnail

JHM Merges in CPA Firm Harting, Bishop & Arrendale

CPA Practice

Top 500 accounting firm JHM Certified Public Accountants, based in Chattanooga, is expanding its presence in eastern Tennessee by combining with Harting, Bishop & Arrendale (HBA) in Cleveland, TN. The combined firm will operate under the name of JHM Certified Public Accountants. The merger brings JHM to approximately 70 team members. Dean Krech “We were very familiar with the importance HBA placed on deep personal relationships with their clientele and are sincerely humbled and honored to e

article thumbnail

Art of Accounting: Succession planning exit strategy

Accounting Today

There's an inherent conflict between wanting the best deal when you exit and wanting the best arrangement during the time you are working.

account 52
article thumbnail

Ascend expands in Southern California

Accounting Today

Private equity-backed platform Ascend has added a new member firm in San Diego, LevitZacks.

article thumbnail

Accounting Today seeking 2024's 'Best Firms for Technology'

Accounting Today

Accounting Today is accepting submissions for its report recognizing the Best Accounting Firms for Technology. This is the sixth year the publication will recognize firms in this category.

article thumbnail

How CPA Firms Can Profit From Payroll Services Without the Extra Work

"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.

article thumbnail

Why the profession needs to say no to NOCLAR

Accounting Today

PICPA believes the PCAOB's Non-Compliance with Laws and Regulations proposal is disconnected from the realities of the auditing profession and will impose undue strain on an already thinly stretched workforce of CPAs.

cpas 40
article thumbnail

Bloomberg officially launches Tax Workpapers solution

Accounting Today

Bloomberg Tax and Accounting released Bloomberg Tax Workpapers, which focuses on data, controls and calculations for tax preparation.

tax 46
article thumbnail

California weighs new taxes to bail out Bay Area's struggling transit budget

Accounting Today

Transit operators in San Francisco's Bay Area are facing massive budget shortfalls as ridership lingers well below its prepandemic levels.

article thumbnail

HOA fees are pricey and prevalent — but tax planning can help some clients

Accounting Today

Financial advisors and tax experts say HOA fees are usually not deductible, unless the home is used for a business or as a rental property.

article thumbnail

Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

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.