Mon.Sep 23, 2024

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IRS Posts New Per Diem Tax Deduction Rates For Business Travel

CPA Practice

Come Oct. 1, the per diem rates used to calculate tax deductions for business travel expenses will be $319 for travel to high-cost locations and $225 for travel to low-cost areas, the IRS said on Friday. Each year the IRS announces special per diem rates taxpayers can use to substantiate the amount of expenses for lodging, meals, and incidental expenses when traveling away from home.

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ADP releases all-in-one generative AI platform

Accounting Today

ADP announced the release of its new generative AI-based platform Lyric, touted as an all-in-one platform for payroll, service and other human capital management needs.

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First Glimpse of 2025 Projected Salary Ranges For Public Accounting

CPA Practice

’Tis the season for staffing firms to release their salary prognostications for various accounting and finance roles for the upcoming year, and one of the first for 2025 comes from Atrium. The staffing and recruiting firm recently put out its 2025 Salary Guide , which includes a section for finance and accounting. Atrium said its team gathers salary and compensation data from the company’s own historical data and reputable third-party sources, conducts a comprehensive analysis of the employment

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Art of Accounting: Accountants' growing services

Accounting Today

Impress upon your clients the importance of engaging you to perform an array of services for them.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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CEOs Surveyed By KPMG Feel a Full Return to Office is Imminent

Going Concern

KPMG has released their CEO Outlook report for 2024 [ PDF ] and we’ll be completely honest, we couldn’t care less about half of this crap. Economic outlook? Pfft. Generative AI? *jerking motion* Call us when companies are actually using it in earnest and not just telling survey takers they plan to invest in it. This bit though: 83 percent of the 1,345 CEOs surveyed expect a full return to office over the next three years, up from 64 percent in 2023.

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The Golden AGE of feedback

Accounting Today

Terrell Turner explains his firm's unique process for upgrading employee reviews.

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Indian audit regulators spar on proposed change for companies

Accounting Today

A proposal aimed at enhancing auditor responsibility for preparing consolidated financial statements of companies, including subsidiaries, has led to a clash between two of India's accounting regulators.

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Monday Morning Accounting News Brief: What Could Go Wrong with PE; PwC Abandons a Big Project | 9.23.24

Going Concern

Happy Monday! I’m here with some news to start your week, just like I do every Monday “morning” (this really gets published closer to noon). ICYMI: the weekend discussion was about firms acting like a s and making it that much more difficult to seduce the next generation of accountants to the profession. Shocking. The words “circling the drain” come to mind.

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Be a Better Boss: Leading with Logic and Love to Build a Staff That Sticks

CPA Practice

By Dr. Kristy Short With an ever-leaking staffing pipeline, it’s high time accounting firms started looking inward for solutions, including alternatives to help retain qualified staff and reduce the need to recruit from a shrinking pool of candidates. For firm leaders and stakeholders, this calls for a little self-reflection. After all, you set the workplace tone.

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The clock is ticking on voluntary ERC disclosures

Accounting Today

The IRS is reminding tax pros and employers that the window for voluntarily disclosing incorrect ERC claims is Nov. 22.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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A new Xero dashboard to elevate your advisory services

Xero

As a busy accountant or bookkeeper, we know you don’t always have time to go through each client’s books to proactively identify issues or opportunities. That’s why we’re thrilled to share that we’ve been testing a new client insights dashboard for advisors, which gives you a snapshot of the financial health of all Xero business edition clients, in one place.

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Melio Launches New Features for SMBs and Accountants

CPA Practice

Accounts payable and receivable platform Melio has rolled out several new features for small and medium-sized businesses and accountants to automate processes, boost control of payments, and improve cash flow management. These features enable accountants and bookkeepers to improve clients’ cash flow with faster domestic and international payments, provide greater control through custom approval workflows on both desktop and mobile, and save time with automatic sync to accounting software and AI

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Four tips to protect your business from cybercriminals

Xero

In this increasingly digital age, small businesses are becoming more and more vulnerable to the threat of cybercrime. In particular, there has been an increase in supply chain attacks targeting small businesses. Cybercriminals are constantly adapting their tactics and using AI to fuel their attacks. As technology advances, so does the risk to your sensitive data.

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Intuit Launches FP&A and Management Solution for Growing Businesses

CPA Practice

If you’ve worried that growing clients are ready for an enterprise resource planning (ERP) platform, but would be overpaying for an overpowered and overly complicated solution, the worry stops now. Intuit launched Intuit Enterprise Suite on Sept. 17 to provide right-sized solutions for growing, complex businesses that need advanced reporting, financial planning and analysis (FP&A), and business management tools, all with a single login.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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Most Loved Workplace Names Withum Among Top Most Loved Workplaces for Parents and Caregivers in 2024

Withum

Withum is proud to share that Most Loved Workplace has recognized the Firm as one of the Top Most Loved Workplaces for Parents and Caregivers in 2024. Most Loved Workplace has recognized Withum for going above and beyond to prioritize and support parents and caregivers in the workplace. Withum offers several generous benefits to our parents and caregivers.

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Autumn Budget 2024: Property Predictions & Wish List

Menzies

Menzies LLP - A leading chartered accountancy firm. The Labour Government has already warned that its first fiscal budget will be painful. With an estimated £22 billion black hole to fill its likely that taxes will increase, and public spending will be cut. A number of announcements have already been made on the Government’s plans for the property and construction sector.

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Five Considerations When Preparing Your Healthcare Practice for a Sale

Withum

If you own a medical practice, considering retirement or seeking capital to address technology needs or regulatory requirements, it’s essential to start planning your exit strategy early to secure you and your family’s financial future. There are several options available, and early planning can significantly benefit you. It’s crucial to identify the factors most important to you, as these will influence the path you choose.

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Code for America’s Free Tax Filing Coming to More States

CPA Practice

By Ashley Silver Government Technology (TNS) Civic tech nonprofit Code for America is broadening its tax filing simplification process to two more states—eliminating filing fees for more than 700,000 residents. Starting in January, residents of Maryland and North Carolina will be able to file their state taxes online for free using Code for America’s FileYourStateTaxes tool.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Have You Hugged A ProAdvisor Today? Or Nominated One?

Insightful Accountant

September 23rd through 27th is National Finance & Accounting Appreciation Week. So take time to 'hug' a ProAdvisor, Accountant, Bookkeeper or Business Consultant. Better yet, nominate them for the ProAdvisor Awards.

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Opinion: CPAs Need to Save the CPA—And Soon

CPA Practice

The Editorial Board Chicago Tribune (TNS) America’s most famously boring profession is in trouble, and that’s bad news for Chicago. The city is a hotbed of professional services, including lawyers, consultants and the now-endangered species of certified public accountants. CPAs are essential for financial reporting, advanced tax preparation and other dull-but-important tasks that keep the economy going.

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Enhance Your Advisor Practice with Future Forward Webinar and Qvinci®

Insightful Accountant

Join Murph and Qvinci Founder & CIO Charles Nagel as they discuss how Qvinci's Turnkey Advisory Program offering makes expanding your practice into Advisory concise and profitable.

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Benefits of CRM for Accountants

Canopy Accounting

In today’s technology-driven world, we rely heavily on connections with teams and clients. But this is an issue when the various applications we rely on are islands unto themselves.

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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Murph's "Future of QuickBooks" is Today

Insightful Accountant

Can Murph prognosticate as well as Punxsutawney Phil? Find out TODAY at 2:00 PM Eastern when he will forecast the 'Future of QuickBooks.' You won't want to miss it.

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REDW Adds Hatcher Financial in Arizona

CPA Practice

Top 200 accounting firm REDW Advisors & CPAs has expanded its presence in Arizona after acquiring Hatcher Financial, a Phoenix-based firm that specializes in wealth management, accounting, and tax planning services. Financial terms of the deal weren’t disclosed. The acquisition increases REDW’s Phoenix office to 114 team members and nearly 350 team members across its national and international footprint.

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Ai Prompts For Accounting Firms

Insightful Accountant

Join Janel Sykora as she teaches you how to maximize your marketing effort while leveraging Ai to produce quality marketing content.

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Autumn Budget 2024 T&L: Predictions & Wish List

Menzies

Menzies LLP - A leading chartered accountancy firm. As the UK Budget announcement approaches on October 30th, there’s a growing sense of anticipation within the Transport and Logistics (T&L) sector. Many are speculating whether the government is employing a well-worn tactic: preparing the public for tough measures, only to soften the blow if the reality isn’t as harsh as expected.

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AP Automation: The Competitive Advantage Your Business Needs

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 technology to drive productivity and cost savings. So, how do you make the case for automation within your organization?

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Judge Refuses to Block Enforcement of New Corporate Transparency Act

CPA Practice

By Maxine Bernstein oregonlive.com (TNS) A federal judge in Portland Friday declined to block the enforcement of a federal law that Congress passed in 2021 to combat money laundering, financing of terrorism or tax evasion. U.S. District Judge Michael H. Simon denied a motion for a preliminary injunction filed by seven people who argued that the federal Corporate Transparency Act ’s requirements to report sensitive personal identifying information violated their constitutional rights.

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Marketing Talks | From Lead to Loyal Client: Mastering the Advisory Sales Process | Archives

Insightful Accountant

Watch this replay for Marketing Talks as Janel Sykora goes over Mastering the Advisory Sales Process.

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Quadient Receives Award for AP Automation

CPA Practice

Global automation platform provider Quadient has been recognized as a Technology Leader in the “SPARK Matrix: Accounts Payable Automation” report, a detailed analysis of the accounts payable (AP) automation market by independent analyst firm QKS Group. The recognition comes on the heels of Quadient also being named a Technology Leader in the “2024 SPARK Matrix: Accounts Receivable (AR) Applications” report, which published in May.

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Premium Content is "All The Rage"

Insightful Accountant

Premium Content is where media is headed. In many cases, it's where it already is and Insightful Accountant is embracing that trend.

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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.