Accounting Today

JULY 15, 2024

The Internal Revenue Service could be doing a better job of cracking down on tax noncompliance by users of virtual currency or digital assets, according to a new report.

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CPA Practice

JULY 16, 2024

By Jeffrey M. Verdon, Esq., Kiplinger Consumer News Service (TNS) Digital assets, like Bitcoin, have provided a new asset class for investors and traders, minting new millionaires in the process. Cryptocurrencies, DeFi and stablecoin staking, non-fungible tokens (NFTs) and other digital assets have given high-net-worth investors diversification, enhanced liquidity and the potential for significant appreciation (along with a hefty dose of risk).

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Withum

MARCH 2, 2024

In a surprise decision Friday night, a federal district court ruled that the Corporate Transparency Act (“CTA”) is unconstitutional, effectively placing the Beneficial Ownership Information (BOI) reporting on hold. By way of background, the CTA was enacted on January 1, 2021 as part of the 2021 National Defense Authorization Act as an attempt to prevent money laundering and tax evasion by requiring new reporting for certain companies doing business in the US.

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Going Concern

JULY 23, 2024

Be aware, audit firms. The PCAOB is sniffing around about your use of generative AI according to a Spotlight they just released [ PDF ]. Exactly what they said was: The PCAOB’s standard-setting agenda includes a research project to assess whether there is a need for guidance, changes to PCAOB standards, or other regulatory actions in light of the increased use of technology-based tools in the preparation and subsequent audit of financial statements.

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Insightful Accountant

APRIL 29, 2024

Insightful Accountant proudly announces this year's Top 100 ProAdvisors along with our Emeritus ProAdvisors of the Year. Congratulations to all being recognized for this year's awards.

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Patriot Software

JUNE 19, 2024

Canton, OH Patriot Software’s founder and former CEO, Mike Kappel has introduced that Kyle Dreger is the new CEO of Patriot Software, effective immediately.

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CPA Practice

JULY 2, 2024

By Sandi Smith Leyva. One of my favorite ways to use ChatGPT is for suggesting titles for articles, blogs, and email subject lines. Of course, it can also write articles, blog posts, email event notices, client correspondence, and social media posts, to name a few. In this article, I’ll focus on its ability to write good titles and subject lines as well as end with a somewhat creative approach to generating blog posts.

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CPA Practice

JUNE 4, 2024

The American Institute of Certified Public Accountants and CPA Practice Advisor have announced the recipients of the ‘Most Powerful Women in Accounting’ awards, now in their 13th year, which recognize leaders for their significant contributions to the profession. The 2024 awards were presented on the main stage at during the AICPA ENGAGE conference at the Aria Resort and Casino in Las Vegas on June 4, 2024.

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Accounting Today

MAY 15, 2024

As the cornerstone of the "Return on Relationship" methodology, a holistic financial plan unlocks a deep and meaningful understanding of a client's personal and business realities and goals.

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JULY 16, 2024

By Davis Bell. In business, as in life, change is the only true constant. From mitigating unprecedented business disruptors to adapting to new operational paradigms, professionals in all industries find themselves dealing with major changes — many of them driven by emerging technologies. [Go to Part II of this two-part series.] Accounting is no exception.

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Speaker: Hilary Akhaabi, PhD - Founder, Chief Financial & Operations Officer at Go Africa Global

In the fast-paced world of corporate finance, staying ahead of the curve is crucial for sustainable growth and profitability. This exclusive webinar with leading expert Hilary Akhaabi, PhD, will teach you practical ways to navigate complex financial landscapes and enhance your company's revenue management capabilities. Whether you're aiming to refine your financial strategies or seeking innovative solutions to drive performance, this new session is for you!

Expense Management

CPA Practice

JULY 3, 2024

By Brad Barkin Small accounting and financial services firms are facing escalating operation threats and vulnerabilities. Cybercrime is on the rise, with PwC reporting a 30% higher risk of cybersecurity attacks for financial firms. Additionally, accounting, tax preparation, and bookkeeping firms are navigating a growing staffing shortage. Technology can address both of these problems, from improved cybersecurity platforms to artificial intelligence-based tools to take over the routine processes

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CPA Practice

JULY 22, 2024

By Bruce Crumley, Inc. (TNS) The Supreme Court has issued a number of controversial decisions in its most recent term. But one that was barely noticed when it was delivered in June ends the strategy of closely held companies using life insurance-based methods to reallocate ownership stakes—tax-free—when a major shareholder dies. The generally overlooked high court decision in Connelly v.

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CPA Practice

JULY 1, 2024

By Dina Segal, Fast Company (TNS) We’re in the midst of a post-pandemic small business revival: Americans have started more new businesses last year than ever since data collection started. Female entrepreneurs are a major driver of that growth. New data from my company, Gusto, shows that women started half of all new businesses in 2023. This is compared to a mere 29% in 2019.

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CPA Practice

JULY 22, 2024

By Sarah Lynch, Inc. (TNS) Health insurance matters greatly to employees. And now, in smaller companies, millions more workers have coverage than they did a decade ago. According to the Center on Budget and Policy Priorities, a research organization and policy institute, the Affordable Care Act has been the difference maker. In 2013, about a quarter of employees at small businesses—those with fewer than 100 employees—were uninsured.

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Withum

JULY 10, 2024

Faced with California’s $45 billion budget deficit, Sacramento lawmakers continue to grapple with how to cure the shortfall. It comes as no surprise that in late June, the state’s Lt. Gov. Eleni Kounalakis, in her role as acting governor, and Gov. Gavin Newsom signed Senate Bills 167 and 175. The bills’ passage resulted in suspending the net operating loss deduction for businesses with greater than $1 million in income and limiting business tax credit utilization, along with other changes.

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Accounting Today

JULY 8, 2024

The Internal Revenue Service has stepped up efforts to combat dubious tax advice promoting schemes involving the Fuel Tax Credit, the Sick and Family Leave Credit, and household employment taxes.

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Accounting Today

MAY 29, 2024

Firms are using different recruiting practices to attract younger talent, thinking outside the standard talent pool and prioritizing company culture and personal growth opportunities.

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CPA Practice

JULY 16, 2024

The American Institute of CPAs and the National Association of State Boards of Accountancy have expanded international testing availability of the U.S. CPA Exam to the Republic of the Philippines. Passing the Uniform CPA Examination is a prerequisite to becoming a licensed Certified Public Accountant (CPA) in the United States. With the increasing globalization of business, many people who live abroad are interested in obtaining the U.S. professional designation.

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Speaker: Claire Grosjean

In today’s fast-paced business environment, finance professionals are under increasing pressure to optimize operations and drive strategic value. As a result, automation has become a core part of business strategy, offering unprecedented opportunities to streamline operations and drive efficiency. Join esteemed global finance and operations executive, Claire Grosjean, for a comprehensive guide on how to harness automation’s power through strategic collaboration with functional leaders.

Finance

CPA Practice

JUNE 17, 2024

By Arianna Campbell. With another busy season in the rearview mirror, many firms are looking ahead to next year. What went well this busy season? What could use some improvement? Now is the time to make changes to your technology and processes that will set you up for success in 2025 and beyond. To help you identify these opportunities, we’ve identified five trends for process improvement that leaders in the accounting profession should be aware of to ensure their firms remain at the forefront.

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Accounting Today

JULY 18, 2024

The RSM network made five strategic acquisitions in Europe, including specialist audit and consulting firms in Austria, Denmark and France, plus a prestigious law firm in Spain.

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CPA Practice

APRIL 23, 2024

From: Entrepreneurs’ Organization | Inc. [Via TNS.] By Kent Lewis, an Entrepreneurs’ Organization (EO) member in Portland, Oregon, is the founder of pdxMindShare , an online career community focused on Portland professionals: I recently shared a presentation on increasing employee engagement and retention by fostering a Culture of Caring with a group of Silicon Valley entrepreneurs.

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Accounting Today

JULY 15, 2024

The IRS warned about bad advice that's being peddled on social media promoting a bogus "Self Employment Tax Credit" and prompting unsuspecting taxpayers to file false claims for the credit.

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CPA

Accounting Today

JULY 16, 2024

Accounting firms and vendors alike have stressed the importance of having a "human in the loop" to oversee AI. Just who are these humans and what do they do?

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Accounting Today

FEBRUARY 16, 2024

The Internal Revenue Service would be able to implement changes to the Child Tax Credit within weeks, IRS Commissioner Danny Werfel told Congress, and send out tax refunds promptly.

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CPA Practice

APRIL 16, 2024

By Lizzy McLellan Ravitch. The Philadelphia Inquirer (via TNS) Molly Kowal decided to become an accountant in part because she knew it would be a stable career. After graduating from college in 2021, she saw friends in other fields struggling to find work but knew she would be able to find a job. But that doesn’t mean she’s willing to work into the wee hours during busy season.

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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.

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Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant or getting "ghosted" if they fail to meet the evolving needs of Gen Z consumers. In this new webinar, Brian Muse-McKenney of Episode Six and Matt Simester of Payments Consultancy Limited will reveal key considerations banks should factor into their efforts to develop target products for the next generation of bank customers.

Accounting Today

JANUARY 22, 2024

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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CPA Practice

MARCH 19, 2024

Freelance talent platform Upwork has conducted a study that reveals which types of skills are most important to accounting firms and corporate accounting departments when adding new employees to their rosters this year. “For the workforce, it is absolutely essential to understand what skills are most in demand in order to stay ahead and generate value, both for organizations and themselves,” Upwork said in the study.

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CPA Practice

JUNE 4, 2024

By Kit Eaton, Inc. (TNS) Gen Z workers aren’t just the youngest folks in the office. They’ve got a radically different approach to how they make a living than preceding generations. Consider fresh data from the freelancer networking company Upwork to see why. Its new survey shows many Gen Z workers are basically shunning traditional office work norms altogether.

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Accounting Today

MAY 3, 2024

The landscape of Corporate Transparency Act beneficial ownership information reporting continues to evolve, and accountants and others who advise their small business clients need to stay ahead of the curve.

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Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals. We’ll also address the critical issue of innovation fatigue, offering tips on maintaining enthusiasm and momentum for new initiatives.

Technology