TaxConnex

NOVEMBER 5, 2024

Whether you’re a consultant working with companies or you run your own company. whether you’re just looking to clean up your own operation or you’re doing homework for an M&A. sales tax risks and exposure should be an important topic. And getting to the bottom of that topic means knowing what questions to ask. Our recent webinar “What to Ask Your Clients to Identify & Manage Their Sales & Use Tax Risk” addressed many of these questions – along with what to do once you find out the an

Sales 177

Sales Tax E-commerce audit 177

BurklandAssociates

NOVEMBER 4, 2024

Protect your startup from costly fraud with expert insights, tools, and resources designed to strengthen your defenses. The post Fraud Prevention Resources for Startups appeared first on Burkland.

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Account accountant accounted 130

MyIRSRelief

NOVEMBER 1, 2024

S Corporations: Tax Preparation, Tax Planning, and the Benefits of Professional Tax Help S Corporations , often referred to as S Corps, are a popular business structure in the United States, particularly among small to medium-sized businesses. They offer a unique blend of benefits, including pass-through taxation and limited liability protection. However, navigating the tax landscape for S Corps can be complex.

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tax preparation tax planning corporation tax Tax 130

Accounting Today

NOVEMBER 4, 2024

Stagnating wages and gaps in career path awareness have pushed young professionals away from accounting, leading to a dearth of candidates and leaving firms scrambling to find a solution.

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accounting firms Account accountant accounted 124

Speaker: David Warren and Kevin O’Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

Sales

CPA Practice

NOVEMBER 4, 2024

A new standard requiring public companies to disclose, in interim and annual reporting periods, additional information about certain expenses in the notes to financial statements was finalized by the Financial Accounting Standards Board (FASB) on Nov. 4. Richard Jones “This project was one of the highest-priority projects cited by investors in our extensive outreach with them as part of our 2021 agenda consultation initiative,” FASB Chair Richard Jones said in a statement.

financial statements 115

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Withum

NOVEMBER 4, 2024

The cannabis industry has waited with bated breath for the December 2nd hearing, where many anticipated that final testimony in favor of rescheduling would be heard by the Drug Enforcement Agency (DEA). The hope was that this would lead to an expedited rescheduling, and perhaps IRC §280E might not apply to the tax year ending 2024 (or at least all twelve months of 2025).

income tax 105

income tax Tax Legal CPA 105

Inform Accounting

NOVEMBER 1, 2024

We have been made aware of the start of criminal activity using both text messages and emails to try and steal bank details by playing on older people's concerns about the Winter Fuel Payment.

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105

Accounting Today

NOVEMBER 5, 2024

The International Auditing and Assurance Standards Board is preparing for the adoption of its International Standard on Sustainability Assurance 5000 early next year as companies look to get outside approval from auditing firms on their environmental efforts.

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audit 105

CPA Practice

NOVEMBER 4, 2024

Bloomberg Tax & Accounting has launched a strategic partner program with several tax software providers focused on automating common tax processes. This collaboration extends the value of Bloomberg Tax’s suite of solutions and provides customers with a more robust set of tools to address critical tax workflow challenges. The new strategic referral network includes: K1x : An AI-powered platform that streamlines alternative investment data — K-1s, K-3s, and 990s — for investors and advisors.

Tax 111

Tax Entertainment audit Account 111

Withum

NOVEMBER 4, 2024

Withum is excited to welcome Steven Menna as a Partner in our Financial Services Team. Menna, who brings extensive experience and innovative leadership, will spearhead the firm’s national alternative investments expansion, focusing on the Southeast and Southwest regions. “I’m thrilled to be joining Withum’s dynamic team and advancing the firm’s presence and success nationally with concentrations from the southeast to the Southwest.

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Texas cpa firm CPA Account 105

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The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.

Going Concern

NOVEMBER 4, 2024

You’ve likely heard of people in audit getting disappeared from KPMG in recent days, we certainly have. Anyone who tried to cope with a “they must have been low performers” might want to season their hat before they eat it. WSJ reports today that KPMG is laying off a few hundred people in audit “as it works to make up for lower levels of voluntary turnover.” Meaning attrition is still too low.

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audit accounting firms Account accountant 101

AccountingDepartment

OCTOBER 30, 2024

In the current competitive environment, small and medium-sized businesses (SMBs) must leverage every possible advantage to succeed and expand. Forecasting is a powerful tool that can greatly influence a company's financial success.

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bookkeeping services bookkeeping Account accountant 103

Accounting Today

NOVEMBER 5, 2024

Nearly three-quarters of U.S. masters of accounting programs reported application growth, according to a report by the Graduate Management Admission Council.

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Account accountant accounted Education 105

CPA Practice

NOVEMBER 4, 2024

By Lance Reynolds Boston Herald (TNS) Nov. 2—A trend is forming in the Boston sports scene: if a team struggles, state taxes are blamed for the poor performance. The Massachusetts Opportunity Alliance , a business coalition focused on improving economic competitiveness, has released an analysis pinpointing how the Bruins are losing out on top talent to teams in states without income taxes.

Massachusetts 111

Massachusetts income tax Tax Sports 111

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

Withum

OCTOBER 30, 2024

The healthcare industry continues to embrace new technologies, which has positively impacted the care of patients. Artificial intelligence , machine learning and big data analytics assist with solutions to enhance healthcare delivery for remote patient monitoring, personalized medicine and early disease detection, to name a few. While these advancements help provide better overall health outcomes, there is a side effect of increasing the attack surface for threat actors to gain access to patient

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Healthcare Hospitality Account accountant 122

Going Concern

NOVEMBER 4, 2024

Well the year is just chugging along, here we are at the first Monday news brief of November. I trust you had your fill of candy the past few days. Now gorge on some news! The Aussie feds are swarming PwC Australia HQ , staff have been advised to “please carry on as usual.” Australian federal police officers have commenced a search for documents at the headquarters of PwC Australia in response to the damaging tax leaks scandal.

Account 100

Account accountant accounted auditor 100

AccountingDepartment

OCTOBER 31, 2024

In the ever-evolving landscape of business, one size rarely fits all. This is particularly true when it comes to financial management. Whether you're a burgeoning startup or an established enterprise, having a firm grasp on your finances is crucial.

Finance 96

Finance 96

Accounting Today

NOVEMBER 1, 2024

The amount individuals can contribute to their 401(k) plans in 2025 has increased by $500 to $23,500, up from $23,000 for 2024, but the IRA limit remains $7,000.

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Tax 119

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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.

CPA Practice

NOVEMBER 1, 2024

The contribution limit for 401(k) retirement plans is going up in 2025 — but not for individual retirement accounts, the IRS announced on Nov. 1. The amount individuals can contribute to their 401(k) plan in 2025 will increase to $23,500, up from $23,000 in 2024 , according to the tax agency. The increase covers those who participate in 403(b) and most 457 plans, as well as the federal government’s Thrift Savings Plan.

Account 119

Account accountant accounted Tax 119

Dent Moses

OCTOBER 30, 2024

Just like your primary residence, a second home may have significant appreciation over the last several years. If it’s time to sell, it’s important to understand the tax consequences. Let’s look at a couple of examples: Sale of second home – 100% personal use Unlike your primary residence, no gain exclusion is available if you sell a vacation home.

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Tax Alabama income tax Maine 97

GrowthForceBlog

OCTOBER 30, 2024

7 min read October 30th, 2024 At the top of a CEO's list of worries, you'll find economic uncertainty (especially concern over a potential recession) and inflation, according to the 4Q 2023 Business and Industry Economic Outlook Survey from the AICPA and CIMA Key Takeaways What Is a Virtual CFO: A virtual CFO serves a business remotely on an as-needed basis.

accounting firms 82

accounting firms Account accountant accounted 82

Ronika Khanna CPA,CA

NOVEMBER 1, 2024

Having a dynamic, regularly updated sales forecast can be essential to the success of a small business. By forecasting your sales revenue you are helping to control for its unpredictability, an inherent risk in any business venture, and prepare for the decisions that are essential to your business profitability. Whether your sales are increasing, decreasing or static, it is always better when decisions are made proactively rather than reactively.

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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.

Accounting Today

NOVEMBER 4, 2024

In response to demand from investors, public companies will be required to disclose more information about certain expenses in the notes to financial statements.

financial statements 102

financial statements accounting standards Account accountant 102

CPA Practice

NOVEMBER 4, 2024

A new survey by travel and expense management service provider Emburse shows how mid-size to large companies are spending on major technology brands in the past year. Emburse processes over $90 billion in expense and invoice transactions each year and developed the index by analyzing $30 billion in completed expenses across 6,300 companies and 10.2 million employees.

Spend Management 106

Spend Management Technology Expense Management Finance 106

Going Concern

OCTOBER 30, 2024

TLDR ChatGPT summary: BDO USA filed a lawsuit accusing a former leader, Phuoc Vin Phan, of leaving to join Ankura Consulting and taking BDO team members and confidential information with him. BDO claims this was part of an Ankura plan to poach its Healthcare TAS practice. Phan denies the allegations, stating BDO’s workplace environment pushed him and others to leave, and counters that BDO fostered a culture of secrecy and intimidation.

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Healthcare Expense Reimbursements income tax Virginia 80

SkagitCountyTaxServices

OCTOBER 31, 2024

It seems like the government thinks they have an endless supply of dollar bills, the way they like to throw our tax dollars around. But believe it or not, the government has to use an annual budget , and they have agencies in place to make them stick to it (whose purpose is actually to try to save your tax dollars, not spend them). Here’s a recent example of the federal budget in action (which can impact you as you’re considering your annual business budget): Policymakers are soon expected to cu

Sales 70

Sales Tax Government tax planning 70

Speaker: Michael Mansard and Katherine Shealy

Generative AI is no longer just an exciting technological advancement––it’s a seismic shift in the SaaS landscape. Companies today are grappling with how to not only integrate AI into their products but how to do so in a way that makes financial sense. With the cost of developing AI capabilities growing, finding a flexible monetization strategy has become mission critical.

Gaming

Withum

NOVEMBER 5, 2024

A recent alert from Maryland-based cybersecurity firm Huntress highlights a concerning vulnerability for construction companies using on-premise accounting and project management software with default login credentials. According to their report last month, a brute-force attack targeted users of a major construction accounting software vendor, exposing sensitive data due to default usernames and passwords being left unchanged.

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accounting software Construction Account accountant 52

Accounting Today

NOVEMBER 1, 2024

Researchers found that auditors with greater honesty-humility are more likely to prioritize professional integrity and report financial infractions.

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audit auditor 111

CPA Practice

NOVEMBER 5, 2024

By Paul Schott The Middletown Press, Conn. (TNS) Nov. 4—Furniture retailer Lovesac has agreed to pay $1.5 million to settle a Securities and Exchange Commission lawsuit that alleges that two former executives committed accounting fraud at the Stamford-based company. The two former executives, then-chief financial officer Donna Dellomo and then-controller Yoon Um, attempted last year to conceal more than $2 million in shipping expenses, after the discovery that those expenditures had been belated

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general ledger auditor Connecticut accounting principles 98

Going Concern

NOVEMBER 5, 2024

In just the last 24 hours, we’ve gotten tips about layoffs at Moss Adams, Elliott Davis, and CohnReznick. This on top of audit layoffs at KPMG first reported by WSJ yesterday. What. Is. Happening. Here’s someone on r/accounting who says they were among the people let go at CohnReznick seemingly out of nowhere: Been at CR for six+ years, overall a good job and I liked it.

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Texas Maine audit Account 59

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