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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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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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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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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MassCPAs finds DEI problems in accounting profession

Accounting Today

The Massachusetts Society of CPAs released a report that identified widespread racial and ethnic disparities in the profession.

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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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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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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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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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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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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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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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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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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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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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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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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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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

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

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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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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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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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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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Harness the Potential of Your Enterprise Knowledge

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.

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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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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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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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Solve Your Firm's Automation Complexities Once and For All

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.

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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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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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ABC Tournament 2nd Round Voting Ends Soon

CPA Practice

Second-round voting for this year’s Accounting High Accountant Bracket Challenge ends at 10 a.m. EST tomorrow, March 27, as the four No. 1 seeds in the tournament are still alive and last year’s champion got bounced in the first round. Click here to vote for who’d you like to see advance to the next round. The eight brackets comprising 64 “teams”—plus a bonus tax bracket of eight challengers—were revealed by Accounting High on March 18.

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March business news wrap!

Reckon

What’s been cracking in the world of business throughout March? We nailed down the most pressing news for Aussie small businesses (that might actually affect you). We have the ATO chasing tax debts, the Fair Work Commission making decisions on the national minimum wage, and more steadying of interest rates and inflation. Let’s dive in. The ATO backtracks and calls in previously ‘written off’ tax debts In a move that has raised eyebrows and stoked backlash from at least two federal Ombudsmen in a

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It Takes Two to Tango

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.