Tue.Mar 26, 2024

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Here’s the Projected Pay Range for Seven Accounting and Tax Roles in 2024

CPA Practice

Salaries for an accountant are expected to range, depending on experience, from $57,719 to $104,788 in 2024, as the balance of power tilts slightly back toward employers with the Great Resignation winding down , according to the 2024 Salary Guide from staffing agency Randstad USA. “Recent years have seen a talent market dominated by rising salaries, candidate scarcity, and the vast majority of power sitting with the candidates themselves, rather than employers.

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6 Steps to Getting Sales Tax Right in 2024

TaxConnex

We are at the end of Q1 of 2024 and continue to discuss how to ensure your business is set up to get sales tax right in 2024. If you’re like the over 49% of businesses who participated in our annual sales tax trends survey and are unsatisfied with the way you are managing sales tax, then you’re in the right place. The complexities surrounding managing your sales and use tax obligations continue to evolve and perplex businesses of all sizes.

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Tax season so far: Looking for answers

Accounting Today

Taxpayers are accessing the IRS website much more this year than last to find the answers they need, with more than 410 millions visits through March 15.

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How Miami Became a Hub of PPP Fraud After Pandemic

CPA Practice

By Jay Weaver, Miami Herald (via TNS). When the coronavirus threatened to turn the nation into a graveyard of failed businesses, Congress rushed through an emergency loan program: about $800 billion — roughly the size of the annual defense budget — was doled out in a matter of months to millions of companies. There were few strings attached: the U.S.

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Building a Business Case for Finance Automation

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

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Foundational skills for young accountants

Accounting Today

Experts highlight tech savviness and strong communication as key skills for early-career accountants.

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IRS: Time is Running Out to Collect Over $1 Billion in Tax Refunds For 2020

CPA Practice

By Alvin Buyinza, masslive.com (TNS) Nearly 940,000 Americans have unclaimed tax returns from 2020 and face a May 17 deadline if they want to get it back, the IRS announced on Monday. Due to the hundreds of thousands of Americans who’ve yet to file their 2020 tax returns, the IRS estimates there are more than $1 billion in unclaimed tax refunds, the agency stated in a news release.

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What the Antitrust Case Against Apple Means for Everyone with an iPhone

CPA Practice

By Wendy Lee, Los Angeles Times (via TNS). Cheaper app subscriptions. Additional payment options. Greater freedom for app developers on the App Store. More consumer choice. Those are some of the possibilities that consumer advocates hope will come to pass for users of Apple iPhones, iPads and other products if the U.S. Department of Justice wins its long-awaited antitrust lawsuit against the Cupertino, California, tech giant.

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IRS investigating Ohtani's former interpreter

Accounting Today

Ippei Mizuhara and an alleged bookmaker are under criminal investigation by the Internal Revenue Service, the agency confirmed.

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Florida Man Gets Prison for Not Paying $900K in Employment Taxes

CPA Practice

A Florida man has been sentenced to 30 months in prison for failing to pay over taxes that he withheld from his employees’ paychecks. According to court documents and evidence presented in court, Timothy Meade, of Fort Myers, Florida, operated a prison phone call service under several business names. From 2011 through 2021, he withheld taxes from his employees’ paychecks but did not pay over to the IRS the full amount of the taxes he withheld.

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Tax the rich is actually a popular bipartisan stance, poll shows

Accounting Today

Fully 69% of registered voters in seven swing states say they favor higher taxes on billionaires, and they support higher income taxes on people who make more than $400,000 a year by the same margin.

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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Xero invoicing: how we’re building a smarter, more flexible future

Xero

We recently announced that we’ll be retiring the older version of our invoicing product — classic invoicing — on 2 September 2024. We know you have plenty of questions and concerns about this change, so we thought we’d share an update on what’s happening behind the scenes. The good news: our teams are busy building a new invoicing product that is going to give you far more flexibility and customisation in the future, with beautiful checkout experiences and unlimited payment methods.

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Existing Home Sales Jumped 9.5 Percent in February

CPA Practice

Existing-home sales climbed in February, according to the National Association of Realtors. Among the four major U.S. regions, sales jumped in the West, South and Midwest, and were unchanged in the Northeast. Year-over-year, sales declined in all regions. Total existing-home sales – completed transactions that include single-family homes, townhomes, condominiums and co-ops – bounced 9.5% from January to a seasonally adjusted annual rate of 4.38 million in February.

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Work Smarter with Microsoft Copilot and Office 365

Cherry Bekaert

Organizations across the globe are struggling to keep up with the pressure of demands and the pace of work. According to a Microsoft 2023 Work Trend Index Annual Report survey , 68% of people say they don’t have enough uninterrupted focus time at work; 62% of people are spending too much time searching for information; and 57% of an employee’s time is spent on communication through meetings, email and chat.

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California and San Francisco Bay Area Saw Job Losses in February

CPA Practice

By George Avalos, The Mercury News (via TNS). The Bay Area and California both lost thousands of jobs during February, a disquieting report that raises questions about the strength of the economy in the state and this region. The job losses in the nine-county region and statewide suggest that the hiring boom that began in the final few months of 2023 and extended into January of this year has been interrupted, at least for now.

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

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3 actions will make you a better people manager

Accounting Today

In the fast-paced ecosystem of accounting, managers often find themselves navigating a tightrope.

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Florida Bans Kids Under 14 from Using Social Media

CPA Practice

By Lawrence Mower , Tampa Bay Times (via TNS). Florida governor Ron DeSantis signed a bill on March 25 blocking most kids from social media websites, setting up an expected court battle that could prevent the legislation from ever taking effect. House Bill 3, passed by lawmakers with bipartisan support this month, forbids kids 13 and younger from creating social media accounts and requires the platforms to seek out and remove their profiles.

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Practicing Efficiency: The Power of One-Piece Flow in Your Workflow

Insightful Accountant

Have you ever heard of one-piece flow? The concept of one-piece flow stands as a beacon of efficiency. Ben Coleman explains one-piece flow and how to apply it to our daily work routines.

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Three-year-old startup bets AI can help fix accountant shortage

Accounting Today

Fieldguide raised $30 million in funding led by Bessemer Venture Partners to further its goal of using AI to alleviate an acute shortage of accountants worldwide.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

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Benefits of Having a QuickBooks Online Certified ProAdvisor

KROST

One of the most used accounting software today is QuickBooks. Having a QuickBooks certified ProAdvisor can make a huge difference in achieving your financial goals. Here are a few benefits of having a trained professional on your side. Expertise: Certified ProAdvisors undergo thorough training to master the latest QuickBooks Online tools. You can trust they Read the full article.

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Nigeria announces tax charges against Binance

Accounting Today

The revenue service accused Binance of nonpayment of VAT and company income tax, failure to file returns, and complicity in aiding customers to evade taxes.

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Nonprofit Chart of Accounts: Samples and How to Get Started

GrowthForceBlog

7 min read Just four financial reports are required for nonprofit organizations: the statement of financial position (balance sheet), statement of activities (income statement), statement of cash flow, and statement of functional expenses. Notably absent is the nonprofit chart of accounts. While this financial report is not required, maintaining a chart of accounts is highly beneficial to your organization, its management, its operation, and its oversight by the board of directors.

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Alaska weather victims get tax relief

Accounting Today

The IRS is pushing back filing and payment deadlines for victims of severe storms last November.

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Cash Flow Secrets Every Upskilled CPA Should Know

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

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IRS Launches Probe Into Fired Ohtani Interpreter’s Theft and Gambling Scandal

CPA Practice

The IRS is investigating the recently fired interpreter for Los Angeles Dodgers star Shohei Ohtani after he was implicated in a scandal involving illegal sports gambling and significant financial theft from his longtime friend. The Associated Press reported on March 21 that interpreter Ippei Mizuhara and his alleged bookmaker Mathew Bowyer are under criminal investigation through the IRS’s Los Angeles Field Office.

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Increase Revenue and Quality of Care by Outsourcing Provider Data Management

Anders CPA

The importance of data management in health care environments can’t be overstated. Especially during complicated processes like credentialing, license renewal, and provider enrollment , provider data accuracy is essential to prevent costly credentialing delays, potential termination of delegated contracts or other penalties. Utilizing a data management service provider with experience in the health care industry can help keep certain credentialing and provider enrollment functions in-house while

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How New Retirees Can Navigate Debt Challenges

CPA Practice

By Elizabeth Crumbly – The Atlanta Journal-Constitution (via TNS). There’s a tipping point when older adults’ willingness to take on debt and their ability to manage it typically changes significantly: It’s called retirement. New cars, mortgage payments, and medical debt that once seemed run-of-the-mill can look daunting as this transition approaches, but financial planning experts offer strategies to offset the challenges.

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In the blogs: Whine of the times 

Accounting Today

More than prep; homebuyer credit needs work; tax shots across the Hudson; and other highlights from our favorite tax bloggers.

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Profit in the Details: Rethinking Spend for Monumental Impact

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

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Should You Rehire a Boomerang Employee?

CPA Practice

Millions of people left their jobs in the last few years, hoping to find greener grass on the other side. The “Great Resignation,” also called the Great Renegotiation or the Great Reshuffle, saw nearly 4.5 million people quit per month on average between November 2021 and April 2022. Some employees realize they left a good thing and may want to return to the job they left.

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Daniel Snyder’s Donation of His Mansion

Withum

I read that American businessman Daniel Snyder is donating his $35 million mansion to the American Cancer Society (ACS) which is an admirable thing to do. However, I also read how it was going to be done and that precipitated this blog. I hope he reads this beforehand since it does not seem like it is being done correctly from what I read. I do not know Dan Synder personally and only know what he is doing from the news.

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State CPA Societies in Action: Arizona Society of CPAs

CPA Practice

Celebrating its 100 th birthday in 2023, the Arizona Society of CPAs works to create opportunities for its members, while working to promote the interests of Arizona CPAs with governments and regulatory agencies and organizations. [ State CPA Societies in Action is a series of articles spotlighting the varied educational, advocacy, networking and professional activities of the state CPA societies across the U.S. ] The ASCPAs mission is to create professional opportunities for members and prospec

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Forvis releases free tax tool for clean energy

Accounting Today

Forvis announced the release of a complementary web-based tax tool for clean energy projects and investments.

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.