CPA Practice
SEPTEMBER 9, 2024
By Gary C. Smith. There is a good chance that many teachers are paying for classroom supplies with their own money. In these days of shrinking school budgets, they have become an expert in doing more with less. Probably, no one has told them that many of these same classroom supplies are available at no cost to teachers through something called a gifts in kind organization.
Accounting Today
AUGUST 8, 2024
The Internal Revenue Service is paying out more claims for the Employee Retention Credit program even as it gives the claims greater scrutiny, and is moving the moratorium on processing new claims from Sept. 14, 2023 to Jan. 31, 2024.
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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.
Going Concern
SEPTEMBER 5, 2024
…as expected, some people are b g about it. Rumors have been swirling for weeks like so many unflushable logs that KPMG was about to announce unlimited PTO, something their competitors at EY did four years ago. As seen on r/KPMG: You all were right. They just announced unlimited PTO by u/Active_Ease_2367 in KPMG EY’s switch to unlimited PTO was immediately shat upon, and rightfully so, after a leaked senior management email made the rounds.
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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
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.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
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CPA Practice
AUGUST 9, 2024
The 2023 version of Form 8308, Report of a Sale or Exchange of Certain Partnership Interests , requires information to be reported contingent upon the finalization of substantially all of a partnership’s tax return by January 31, months in advance of the due dates for Form 1065 and related Schedules K-1. These new filing requirements place an undue burden on taxpayers and tax practitioners by mandating the duplicate reporting of information already required to be reported on Schedules K-1.
CPA Practice
AUGUST 21, 2024
By Zach Mentz cleveland.com (TNS) The annual cost-of-living adjustment for Social Security benefits is expected to decrease in 2025, according to a new estimate. The Social Security cost-of-living adjustment (COLA) for 2025 is projected to be 2.57%, down from the 3.2% COLA implemented in 2024 , according to The Senior Citizens League. That figure also represents a decrease from 2.63% in July’s COLA estimate, but is equal to the 2.57% projected in TSCL’s June estimate.
CPA Practice
JULY 26, 2024
The IRS on July 26 provided five additional red flags of incorrect Employee Retention Credit (ERC) claims by businesses, as the agency continues to scrutinize requests for the pandemic-era tax credit. The new warning signs come from common issues that IRS compliance teams have seen while analyzing and processing ERC claims. These five red flags are in addition to seven problem areas the IRS highlighted last March.
Accounting Today
JULY 30, 2024
The Internal Revenue Service has introduced new measures for streamlining reporting of renewable energy credits, as well as final rules on corporate stock repurchases and cryptocurrency transactions.
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.
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.
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.
Withum
AUGUST 14, 2024
On August 9, 2024, the IRS announced relief from certain tax filing and payment deadlines for individuals and businesses in all of South Carolina, most of Florida and North Carolina, and part of Georgia that were affected by Hurricane Debby. The relief provided in IR-2024-205 postpones various tax filing and payment deadlines that occurred beginning on August 1, 2024, in Florida, August 4, 2024, in Georgia and South Carolina, and August 5, 2024, in North Carolina – the postponement period.
CPA Practice
AUGUST 28, 2024
CPA Practice Advisor has announced the 2024 Tax and Technology Innovation Award winners and finalists. Now in their 21st year, the awards highlight technologies that advance the profession. After voting by the awards committee panel each year, the top five products are presented as winners of the Tax and Accounting Technology Innovation Awards. Up to five additional products are also selected by the committee as award finalists.
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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.
CPA Practice
JULY 22, 2024
Traditional accounting roles are evolving, now more than ever, as client needs change. Ask ten of your friends, and most will assume that an accountant is a number cruncher and focuses on compliance issues. And, to some degree, these people are correct. Certified public accountants know a lot about numbers, they analyze them, forecast them, and “crunch them,” but over 50% of firms now offer client advisory services and have become strategic partners with clients.
Accounting Today
SEPTEMBER 5, 2024
Only about a quarter of CPA business executives expressed optimism about the prospects for the U.S. economy over the next 12 months, down from more than a third last quarter, according to a new survey.
Accounting Today
SEPTEMBER 6, 2024
The Bonadio Group, a Top 50 Firm based in Pitsford, New York, has executed 22 successful mergers over the last 27 years, many of which have been overseen by CEO and managing partner Bruce Zicari.
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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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.
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.
CPA Practice
AUGUST 19, 2024
By Mark Luscombe, CPA, JD, LLM. U.S. Olympians have won 40 gold medals, 44 silver medals, and 42 bronze medals at the 2024 Olympic Games in Paris, for a total of 126 medals. And that is only half of it. With many events involving teams, relays and other multiple participants, the number of medals presented to U.S. athletes is over twice that number, with around 125 gold medals, 98 silver medals, and 93 bronze medals distributed to individual winning participants.
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.
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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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.
CPA Practice
SEPTEMBER 9, 2024
By Nikki Buckelew, Ph.D. Accounting professionals are often called upon by their clients with questions concerning residential changes. Those nearing retirement or on a fixed income often need to know what the financial and tax implications might be should they sell a longtime family residence, a second home or real estate included in their portfolio.
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.
CPA Practice
SEPTEMBER 11, 2024
By Dr. Sangeeta Chhabra Efficiency and speed matter more than ever in today’s business environment—and for the majority of accounting firms. Managed IT services are a sure way to bring those elements to your practice. These services scale IT infrastructure to help accountants speed up accounting services, manage the workforce, adhere to global compliances, and lower operational costs.
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.
Speaker: Igli Laci, Strategic Finance Leader
In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a
Accounting Today
SEPTEMBER 10, 2024
Understanding these updates is critical in guiding the tens of millions of LLCs, closely held businesses, and other small-business clients through the complexities of beneficial ownership compliance.
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.
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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