Tue.Oct 01, 2024

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Is Gen AI creating a pricing conundrum for CPAs?

Accounting Today

As more and more professional services organizations lean on AI-driven tools to enable new ways of working, there is some question as to how this will impact pricing models.

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Defining tech products and services for tax and regulatory compliance – part 1

TaxConnex

Information technology companies face a special challenge in sales tax and regulatory compliance, chiefly because of what you sell and how you sell it. What do you do exactly? Sell Software as a Service (SaaS)? Provide an information service? A telecom service? Your company probably fits into at least one of these categories – or more than one, which is where sales tax obligations and regulatory compliance can get complicated.

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The MSO/PC Advantage for Scaling a Healthcare Startup

BurklandAssociates

For healthcare founders, the MSO/PC model simplifies scaling, ensuring compliance with CPOM while allowing you to focus on delivering quality care. The post The MSO/PC Advantage for Scaling a Healthcare Startup appeared first on Burkland.

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Salary guide: Accountants expect disruption, will see average job growth

Accounting Today

LHH's 2025 Annual Salary Guide reports 56% of accounting professionals feel their roles are at risk of disruption by digitalization, automation and AI.

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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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IRS Extends Tax Deadlines Until May For Helene Victims

CPA Practice

The IRS on Tuesday announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina, and South Carolina, as well as parts of Florida, Tennessee, and Virginia. Taxpayers in these areas now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments.

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AICPA asks for tax relief in aftermath of Helene and IRS grants it

Accounting Today

The American Institute of CPAs has sent a letter to the IRS asking for immediate tax relief in the wake of the hurricane, which caused widespread destruction in six states.

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Tax planning as the election nears

Accounting Today

This election season could have a more significant effect on tax policy than most. How can CPAs guide their clients through this potential volatility in tax policy?

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P **g Match of the Day: Deloitte vs. PwC Partner Pay

Going Concern

Exact numbers on EY UK partner pay haven’t been revealed yet but we do know that it isn’t going to be great. While we wait for those numbers and our shipment of tiny violins to arrive, figures on two other firms across the pond are out: Deloitte and PwC. TLDR: Big D partners won this round by quite a bit. Woe Be Unto PwC UK Partners PwC UK partners pocketed £862,000 on average for the year ended June 30, 2024 — that works out to more than $1.14 million in freedom units.

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IRS Draft Form 7217 Ready For Public Comment

CPA Practice

The IRS on Sept. 30 requested public comments on draft Form 7217 and instructions for draft Form 7217. Last month the IRS posted revised draft Form 7217, with the new title “Partner’s Report of Property Distributed by a Partnership.” This is a new form for tax year 2024 applicable to distributions to partners made during that tax year. The purpose of Form 7217 is to report all distribution of property that a partner receives from a partnership.

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Dave Blatt Joins Anders Technology to Introduce Robust AI Offerings

Anders CPA

Anders Technology welcomes Dave Blatt as a Technology Consulting Principal. Dave will lead Anders Technology’s AI and Automation services, empowering clients to achieve operational efficiencies and explore the innovative capabilities of AI. Anders is investing in these powerful solutions to help mid-tier businesses increase productivity, efficiency, scalability and cost-effectiveness.

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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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Public Accounting Salary Projections For 2025, According to Staffing Firm LHH

CPA Practice

Average public accounting salaries in audit/assurance are expected to range from $80,000 for an associate to $140,550 for a manager in 2025, while the average salaries for roles in tax are projected to range from $79,800 for an associate to $172,200 for a senior manager next year, according to LHH Recruitment Solutions. The global talent solutions provider recently released its 2025 Salary Guide , which includes pay expectations for a variety of positions in accounting and finance.

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Guide to AP Automation

Accounting Seed

Learn how Accounting Seed can automate your Accounts Payable to simplify payments, improve spend management, and drive faster growth.

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Avantax Acquires SEP Financial Services

CPA Practice

Avantax Inc., a unique community within Cetera Holdings and a provider of tax-focused financial planning and wealth management, has acquired SEP Financial Services, founded by veteran independent financial advisor Stephen E. Plain, who’s been affiliated with Avantax for 25 years. Plain chose to evolve his relationship with Avantax as the core to his succession plan, which involves his practice and clients transitioning to Avantax Planning Partners (APP), the employee-based model of Avantax.

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Frontrunner in Washington's gov. race defends capital gains tax

Accounting Today

Without an income tax, Washington has one of the most regressive tax systems in the U.S.

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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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BDO USA Adds 56 New Principals

CPA Practice

Top six accounting firm BDO USA has promoted 56 individuals to principal, effective Oct. 1. This latest class of rainmakers is slightly smaller than the 60 principals the firm added last year at this time. I’m pleased to welcome these talented individuals to our principal ranks and congratulate them on this significant career achievement,” BDO USA CEO Wayne Berson said in a statement.

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How Mutual Muse took circular fashion from trend to timeless

Xero

When you think of ‘circular fashion’ you might think of donating your old clothes and items to local charity shops, or online marketplaces. But what about consignment stores that pay you for your most-loved items and offer credit notes that allow you to refresh your wardrobe at the same time? That’s exactly what Kirsta Hawkins, owner of sustainable consignment store Mutual Muse, wanted to bring Australian shoppers when she opened her first store in 2014.

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IRS Looks to Improve Communication With Large Corporations During the Appeals Process

CPA Practice

As part of its ongoing efforts to expand online tools and improve user experiences for both individual and business taxpayers, the IRS announced on Monday it has launched a new pilot program to enhance secure messaging for large corporations with multiple representatives during the appeals process. From Sept. 30, 2024, through March 31, 2025, the IRS Independent Office of Appeals’ Secure Messaging Program Office is piloting “corporate group mailboxes,” allowing eligible business taxpayers with a

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The worst mistake an accountant can make – and how to avoid it

Mark Lee

A journalist once surprised me with a question I wasn’t anticipating: “What is the worst mistake accountants can make when they are trying to ‘close’ a prospective client?” When I later reflected on my instinctive reply I was satisfied it contained good advice – especially as some accountants may be unaware they are making this mistake. I have expanded on it below and explained the downsides of making the mistake in question.

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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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Ascend adds Lucas Horsfall

Accounting Today

The private equity-backed platform is adding Pasadena, California-based Lucas Horsfall.

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Sage Acquires Supply Chain Software Platform Anvyl

CPA Practice

Accounting software provider Sage is enhancing its supply chain solution capabilities by acquiring Anvyl, a New York-based technology firm focused on the high-growth $20 billion supply chain software sector. Financial terms of the deal weren’t disclosed. Mark Hickman “Our acquisition of Anvyl reinforces Sage’s commitment to offering comprehensive back-office solutions for small and midsized businesses, particularly in supply chain management,” Mark Hickman, managing director, North America at S

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In the blogs: This might hurt a bit

Accounting Today

Saying 'yes' too much; M&A mania; partners' income spread; and other highlights from our favorite tax bloggers.

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Zone & Co Launches ZoneBilling AI Assistant, Transforming Customer Self-Service with Intelligent Automation

CPA Practice

Zone & Co , the leading provider of ERP-expanding software solutions for the CFO’s office, today announced its new ZoneBilling AI Assistant, a groundbreaking tool designed to enhance user experience by providing instant, contextual answers to user queries without leaving their workspace. This AI assistant represents a significant step forward in the company’s mission to streamline operations and reduce friction for finance teams.

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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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Aiwyn releases PracticeOS for accounting firms

Accounting Today

Aiwyn announced the release of PracticeOS, a vendor agnostic practice management platform specifically for accounting firms.

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Learning About Entrepreneurship From Tommy Boy

Withum

I have always liked Chris Farley and, in particular, his movie Tommy Boy. I have it recorded, but I seem to watch parts of it whenever I am channel surfing and catch it on. Recently, I decided to watch it from the beginning, and a scene caught my attention that provided the inspiration for this blog. The scene was Chris in the role of Tommy sitting dejectedly with a shot of the Callahan Auto Parts sign over some trucks in a loading bay.

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Prosperity Partners acquires Wiener and Garg

Accounting Today

The Chicago-based accounting business backed by private equity, has completed the acquisition of a tax preparation, planning, advisory and accounting firm based in Rockville, Maryland.

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Anders Technology Wins XCellence Award for Best Newcomer at 2024 Fall Midsize Enterprise Summit 

Anders CPA

Anders Technology, an advisory service line of Anders CPAs + Advisors, is thrilled to announce that it has been awarded the XCellence Award for Best Newcomer at The Channel Company’s 2024 Fall Midsize Enterprise Summit in Tampa, Florida. This achievement highlights Anders Technology’s technical expertise and dedication to serving the midmarket.

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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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Small business job growth dipped in September as wages grew

Accounting Today

Job growth at small businesses moderated slightly in September, but hourly earnings growth reached 3.01%, up from 2.95% in August, payroll provider Paychex reported.

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Redefining the Modern Workforce: Gen Y and Z at the Helm

Accounting Insight

The Millennials (Gen Y) and arrival of Generation Z in the workforce is transforming how businesses operate. Often stereotyped—Millennials as tech-savvy yet fickle, and Gen Z as pragmatic and bold—these generations are driving significant changes in workplace dynamics. Raised in an era of instant access and global interconnectedness, both generations bring fresh perspectives that challenge the status quo of traditional management.

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Netgain launches Fixed Asset Solution for ERPs

Insightful Accountant

Netgain has launched 'NetAsset', a fixed asset accounting solution to streamline processes in ERPs.

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Indicator launches market first AI assistant – GenIA-L – for tax advisors and accountants

Accounting Insight

Indicator, part of the Lefebvre Sarrut group, the European leader in legal and tax knowledge, launches its conversational AI assistant – GenIA-L – to the UK tax and accountancy market. Indicator are thrilled to announce the launch of GenIA-L, an unprecedented AI tool designed specifically for tax advisors and accountants across the UK. GenIA-L takes tax advisory into the digital age with machine learning capabilities, offering tailored advice through an intuitive chat interface, and

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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.