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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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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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 Professionals Might Be Contacted About IRS Survey

CPA Practice

In case this got buried in your inbox on Friday, the IRS said in an email to tax professionals that they could be randomly selected to participate in a voluntary survey to help the IRS improve services to practitioners and taxpayers. The IRS said, “Survey invitations will arrive by mail with phone follow-ups. This is not a scam. Please don’t hang up.

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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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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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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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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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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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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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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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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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The Golden AGE of feedback

Accounting Today

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

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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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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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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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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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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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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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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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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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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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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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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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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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Maximize ERP Security with NetSuite’s Built-in Features

Withum

In 2024, the most valuable asset a business could possess is not what most think. If this asset is stolen, it can cause devastating consequences to your business. This asset is the confidential information of a business, its employees and its clients. In the digital landscape of today, the threat of cybersecurity hacks is a relevant risk for business leaders.

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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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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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Cashflow Mastery Talks | Building Strong Customer Relationships

Insightful Accountant

Watch Mike Milan in July's Cashflow Mastery Talks with Cashflow Mike. These 30-minute webinars are designed to help you master the art of cashflow management for your clients, and equip you with invaluable knowledge and practical strategies.

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ADP Launches Lyric, an AI-Enabled Global HR Platform

CPA Practice

Payroll and HR technology provider ADP has launched ADP Lyric HCM, a Human Capital Management (HCM) platform designed to meet the evolving needs of the modern workforce through global HR, payroll and service. By combining flexibility, intelligence and human-centric design, Lyric provides a ground-breaking solution that enhances employee experience on a global scale.

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CHECKLIST: Gathering Financial Documents for Divorce

FraudFiles

Financial documents are at the heart of divorces. Regardless of how contentious or amicable a divorce is, the finances of the spouses will need to be separated, and financial documents are required to make the division. Whether the information sought is current or historical, unaltered documents tell the truth about the money. This truth needs [.

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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.