MyIRSRelief

APRIL 3, 2023

That’s where an accountant (EA or CPA) can help. A Los Angeles, CA accountant can provide essential financial expertise and support to small business owners, helping them make informed decisions and manage their finances efficiently. Contact us today for all you tax and accounting needs.

Account 130

Account accounted accountant accounting and finance 130

Going Concern

JUNE 24, 2022

Kristy Illuzzi, CPA, CGMA of International Federation of Accountants (IFAC) on why the Great Resignation is affecting the profession so acutely : I think the Great Resignation is interesting in that it has impacted almost every sector of our economy and every profession in some way, and it’s no different in the accounting industry.

Account 115

Account accounted accountant CPA 115

RogerRossmeisl

FEBRUARY 16, 2021

If you have a traditional IRA or tax-deferred retirement plan account, you probably know that taking required minimum distributions (RMDs) is mandatory when you reach a certain age — or you’ll be penalized. In general, RMDs are calculated using life expectancy tables published by the IRS.

CPA 235

CPA Tax Account accountant 235

Going Concern

NOVEMBER 14, 2023

Last month we took a look at the 2024 Robert Half Salary Guide to get an idea what public accounting salaries should be in the range of next year, today it’s a similar report from Addison Group and their 2024 Workforce Planning Guide. The guide covers several industries, we are of course only here for accounting. Say what now?

accountant salary 110

accountant salary Account accounted accountant 110

Going Concern

OCTOBER 17, 2023

The 2023 AICPA Trends in the Supply of Accounting Graduates and the Demand for Public Accounting Recruits report (short: Trends report) was released last week and spoiler alert, it’s dark. Says the AICPA, bachelor’s degree completions in accounting dropped 7.8% 65,035 total accounting degrees completed for 2021-22.

accounting degree 124

accounting degree accountant accounted Account 124

ThomsonReuters

JUNE 16, 2023

Many of today’s accounting professionals have a new perspective on when and how they want to work. The onset of the COVID-19 pandemic forced countless businesses, including accounting firms, to go remote essentially overnight due to mandated shutdowns and stay-at-home orders. Are there still remote accounting jobs?

accounting firms 111

accounting firms Account accountant accounted 111

CPA Practice

OCTOBER 11, 2023

Public accounting firms in the United States reported strong top-line and bottom-line growth in their latest fiscal year results, driven by high demand for their services, according to a survey by the American Institute of CPAs and the Chartered Institute of Management Accountants. That rate eclipses the 4.2%

accounting firms 110

accounting firms accounted Account accountant 110

Going Concern

NOVEMBER 2, 2022

Although the accounting talent shortage seems like something that just popped out of nowhere and couldn’t possibly have been predicted, oh, a decade ago, I feel compelled to remind everyone that we here at Going Concern saw this coming. From Is There Really a Shortage of Entry Level Accountants? OK ready for the prophetic bit?

accountant 126

accountant accounted Account accounting degree 126

CPA Practice

SEPTEMBER 5, 2023

Accountants are part of an evolving industry where 82% of accountants agree that client expectations have widened. Clients may still need your services, but they want an accountant to go the extra mile for them. Sage found that 67% of accountants prefer cloud-based accounting. Joseph Graziano, CFP®.

accountant 119

accountant accounted Account accounting and finance 119

RogerRossmeisl

JULY 27, 2021

Here’s a brief rundown of four tax and financial issues you may deal with when you retire: Taking required minimum distributions This is the minimum amount you must withdraw from your retirement accounts. Roth IRAs don’t require withdrawals until after the death of the owner. You can withdraw more than the minimum required amount.

Tax 246

Tax CPA Account accountant 246

CPA Practice

JUNE 12, 2023

There is perhaps no industry in which this dynamic is more apparent than accounting; 75% of accounting processes are largely manual, according to a recent Deloitte survey of accounting professionals. This demonstrates the potential impact that automation can have — and is already having — on the day-to-day lives of accountants.

Account 108

Account accountant accounted accounting and finance 108

Withum

MAY 7, 2024

The Internal Revenue Service (IRS) again postponed Required Minimum Distribution (RMD) rules for certain taxpayers owning inherited retirement accounts. Prior to 2020, beneficiaries of inherited retirement accounts were generally able to withdraw the balance of these accounts over their lifetime.

accounted 98

accounted Account accountant income tax 98

CPA Practice

AUGUST 19, 2024

In addition to ongoing security and compliance needs, accounting firms face unique challenges when recruiting and retaining employees, offshoring, and increasing operational efficiencies. A veteran of accounting journalism, she also speaks at many accounting events, trade shows, and webinars.

accounting firms 107

accounting firms Indiana cpa firm accounted 107

Going Concern

SEPTEMBER 25, 2023

It’s been a while since we’ve done an Accountants Behaving Badly megapost ( 381 days ago , actually), here’s some bad behavior you may have missed. Twice-Convicted Accountant Is Charged With Embezzling More Than $1.1 Palos Hills Accountant Indicted In $7.8M This stock photo is incredible.

tax preparation 105

tax preparation Gambling Account accountant 105

RogerRossmeisl

AUGUST 3, 2021

According to the Federal Trade Commission, veterans lost approximately $60 million to fraud in 2020. In fact, in 2020, military consumers lost more than the general public to fraud — a median $600 compared to $311 for nonmilitary consumers.

CPA 230

CPA Government Account accountant 230

TaxConnex

SEPTEMBER 17, 2020

Texas , even as a pandemic rages and wanes, is also enjoying a bump in sales tax revenue for fiscal 2020: $34.10 Total sales tax revenue for the three months ending in August 2020 was down 2.7 Sales tax is the largest source of funding for the Texas budget, accounting for 59 percent of all tax collections. billion, up 0.2.

Oklahoma 244

Oklahoma Texas Kansas Tennessee 244

Going Concern

FEBRUARY 14, 2023

Of the 216 accounting firms that participated in the 2022 ATAWW Survey, 97% allowed their talent to choose where they work, while 94% offer flexibility in when people are working. It’s remarkable to note that this result was up from 38% in 2020. We’re gonna need their names and HR contacts, thanks.

accounting firms 115

accounting firms accounted accountant Account 115

Airbase

FEBRUARY 3, 2023

But when businesses were forced to pivot quickly in the spring of 2020 in response to the onset of the COVID-19 pandemic, some unexpected developments occurred. In a McKinsey study, executives reported that prior to 2020, they would have predicted that implementing new business operations technology would take about 672 days.

Spend Management 130

Spend Management accounted Account accountant 130

Going Concern

AUGUST 1, 2022

There’s an accountant shortage! This issue has been building since accounting graduate numbers peaked in 2015-16, seven years later we’re starting to see the effects of a shrinking pool of accountants. Across the pond, Accountancy Age says firms are looking to mergers to solve their talent problems.

accounting firms 119

accounting firms accounted accountant Account 119

Withum

OCTOBER 13, 2023

Capital accounts track the net equity owned by each partner in a partnership and typically include such information as initial and subsequent capital contributions, each partner’s distributive share of the profits and losses, and all distributions.

Tax 115

Tax accounted Account accountant 115

RogerRossmeisl

OCTOBER 6, 2021

The Association of Certified Fraud Examiners’ (ACFE’s) Report to the Nations: 2020 Global Study on Occupational Fraud and Abuse provides ample evidence that some fraud detection methods are better than others. Those found through account reconciliation ran for a median. These methods can significantly lower fraud durations and losses.

audit 222

audit CPA Account accountant 222

Going Concern

DECEMBER 8, 2022

2010) has penned an article for Yale Daily News that argues — quite well — why Yale needs an accounting program. There’s nothing wrong with the trades, in fact if you do the math many plumbers make more per hour than early-career public accountants (ouch again). Accounting is a trade.” Juniors and seniors only.

accountant 119

accountant accounted Account cpas 119

Accounting Seed

JULY 17, 2024

million people experienced homelessness in 2020 alone—with California accounting for 28% of the homeless population in 2023. Previously, their accounting systems were completely outsourced, taking 60 days (sometimes more) to see a financial statement. With Accounting Seed, we don’t have month-end.

Technology 105

Technology accounted Account accountant 105

Going Concern

DECEMBER 20, 2022

I made my entrée into accounting way back in 2007, at the time my job involved a three-hour roundtrip journey across four Bay Area counties and back and I was looking for something a bit closer to home. They say accounting is recession-proof, I had an inside view during the worst recession of our lifetime and must agree. WSJ graphic.

accounted 119

accounted Account accountant accounting and finance 119

Going Concern

DECEMBER 2, 2022

” Remember all the layoffs and pay cuts at accounting firms we were meticulously tracking in early 2020? Transparency group OpenTheBooks.com crunched the numbers using Small Business Administration data and found $635 million in forgiven PPP loans by 237 accounting firms, some of which also appear on the layoff list.

accounting firms 105

accounting firms accounted Account accountant 105

RogerRossmeisl

DECEMBER 28, 2020

Because of tax-deferred compounding (tax-free in the case of Roth accounts), boosting contributions can have a major impact on the size of your nest egg at retirement. The contribution limit for 2020 is $19,500. Employees age 50 or older.

CPA 242

CPA Tax Account accountant 242

AdviceForTaxpreparers

SEPTEMBER 8, 2020

My name is Bill Meador and I am writing a book to help tax staff succeed in a public accounting firm tax department. Now I understand the first reaction of many accountants to the concept of selling anything. For example, you might decide to go on your Facebook, Linkedin or Reddit account and make the following statement.

tax preparation 246

tax preparation Tax cpa firm tax return 246

Going Concern

AUGUST 9, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default. So here, take this tweet instead. Also how much they pay offshore staff.

accounting firms 104

accounting firms accounted Account accountant 104

SkagitCountyTaxServices

FEBRUARY 1, 2024

It’ll be a 2020-rematch, and the Chiefs will be on the hunt to win back-to-back Super Bowls (something only 8 teams in NFL history have accomplished). As part of last year’s Inflation Reduction Act (IRA), the IRS has rolled out new online business accounts for business owners. And should you get one?

business accounting 87

business accounting Account accountant accounted 87

RogerRossmeisl

MARCH 25, 2021

If so, be aware that a law was recently enacted that makes significant changes to retirement accounts. You can keep making traditional IRA contributions if you’re still working Before 2020, traditional IRA contributions weren’t allowed once you reached age 70½.

CPA 233

CPA Account accountant accounted 233

Going Concern

FEBRUARY 22, 2023

TL;DR Two guys and their accounting firm are accused of filing false tax returns and a touch of COVID relief fraud. 1 charging two Utah County men and an accounting firm with claiming an excess of $11 million in tax credits through a COVID-related fraud scheme. I had a call scheduled with an accountant and he never called.

Utah 105

Utah accounting firms tax return accounted 105

Going Concern

FEBRUARY 8, 2023

Been a while since we’ve ranked anything, thankfully Portland Business Journal came in clutch today and gave the world a good old fashioned ranking of Portland accounting firms. The post The Largest Accounting Firms in Portland, Ranked by Number of CPAs Working There appeared first on Going Concern. Today we learned.

cpas 109

cpas accounting firms Oregon accounted 109

Going Concern

OCTOBER 2, 2023

Global accounting and advisory firm Deloitte is well and truly pulling away from its Big Four rivals. The AICPA created the practice aid to help accounting professionals establish a QM system for their firm’s accounting and auditing practice in line with the Statement on Quality Management Standards (SQMS) No.

North Dakota 119

North Dakota accountant accounted Account 119

Airbase

AUGUST 11, 2023

In other words, moving to a continuous close is a cultural change and a shift in accounting procedures However, the monthly close has long been a cornerstone of accounting practice. It’s possible to simplify and shorten a monthly close by drawing on the concepts of continuous accounting. And why now?

Technology 244

Technology accounting and finance NetSuite Finance 244

CPA Practice

APRIL 28, 2023

While tax time is irksome for business owners, it can be teeth-grindingly stressful for the accountants who assist their clients. In a typical season, accountants can work anywhere from 50-to-80 hours a week, not only providing strategic tax advice but helping set up each client for success throughout the year.

accounting meaning 99

accounting meaning accounted accountant Account 99

CPA Practice

OCTOBER 10, 2023

The demand for skilled tax practitioners in the accounting profession has never been more critical. This surge in demand for CPA services comes at a time when experienced public accountants are exploring alternative career options, and fewer graduates are entering the profession. By Richard Lavina and Ralph Carnicer.

Technology 99

Technology accounting firms accounted Account 99

Going Concern

AUGUST 22, 2023

Why is it every time mainstream media writes about accountants they just have to drag the stereotypes into it? Everyone, meet the world’s fastest accountant. I’ve had a lot of support from all the different accountant bodies,” he said. They’re like ‘yo, you’re putting accountants on the map’. Well, we know of some.

accounted 98

accounted accountant Account Sports 98