Accounting Today
NOVEMBER 6, 2023
Delaying a payment or not paying an invoice and letting amounts pile up are a way for a client to give voice to a problem with your services without causing an immediate confrontation.
RogerRossmeisl
NOVEMBER 6, 2023
The holidays are just around the corner. Many people may want to make gifts of cash or stock to their loved ones. By properly using the annual exclusion, gifts to family members and loved ones can reduce the size of your taxable estate, within generous limits, without triggering any estate or gift tax. The exclusion amount for 2023 is $17,000. The exclusion covers gifts you make to each recipient each year.
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Accounting Today
NOVEMBER 6, 2023
Accounting firms need to pay more to bring young people into the profession, as starting salaries are still lagging compared to other fields, and they have to make other changes in how the job is structured.
RogerRossmeisl
NOVEMBER 6, 2023
If your investments have fluctuated wildly this year, you may have already recognized some significant gains and losses. But nothing is decided tax-wise until year-end when the final results of your trades will reveal your 2023 tax situation. Here’s what you need to know to avoid tax surprises. Tax-favored retirement accounts and taxable accounts If you’ve had wild swings in the value of investments held in a tax-favored 401(k), traditional IRA, Roth IRA or self-employed SEP account, there’s no
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.
Accounting Today
NOVEMBER 6, 2023
Lots of businesses have claimed the Employee Retention Credit who don't actually qualify for it — and in many cases it's going to be up to their accountants to set them right, says Randy Crabtree.
RogerRossmeisl
NOVEMBER 6, 2023
Do you and your spouse together operate a profitable unincorporated small business? If so, you face some challenging tax issues. The partnership issue An unincorporated business with your spouse is classified as a partnership for federal income tax purposes, unless you can avoid that treatment. Otherwise, you must file an annual partnership return, on Form 1065.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
RogerRossmeisl
NOVEMBER 6, 2023
In recent years, merger and acquisition activity has been strong in many industries. If your business is considering merging with or acquiring another business, it’s important to understand how the transaction will be taxed under current law. Stocks vs. assets From a tax standpoint, a transaction can basically be structured in two ways: 1. Stock (or ownership interest) sale.
Going Concern
NOVEMBER 6, 2023
Tips have been trickling in all weekend about layoffs at Grant Thornton however we couldn’t confirm until now. Confirmed. Here’s a tip that came in this evening: Grant Thornton Advisory laid off around 100 people as of 11/3 after the firm adjusted what groups do and do not fall under advisory. Purely utilization based it seems, performance only a factor with a small few.
RogerRossmeisl
NOVEMBER 6, 2023
Small businesses generally operate on principles of trust, particularly if several family members are involved. You might trust any employee to lock up the office at the end of the day or provide any colleague with administrative privileges to your website. After all, you know these people. But as businesses grow and hire new employees, it makes less sense to trust everyone implicitly.
Withum
NOVEMBER 6, 2023
Withum is proud to share that Hon. Margaret M. Foti P.J., Cr. (Ret.), formerly the presiding Judge of the Criminal Division of the Superior Court of New Jersey, Bergen County, and a member of the judiciary for 14 years, is now a Principal in Withum’s Forensic and Valuation Services team. Judge Foti served over eight years in the Criminal Division, six as presiding judge and over five years in the Family Division.
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.
RogerRossmeisl
NOVEMBER 6, 2023
With the escalating cost of health care, many people are looking for a more cost-effective way to pay for it. For eligible individuals, a Health Savings Account (HSA) offers a tax-favorable way to set aside funds (or have an employer do so) to meet future medical needs. Here are four tax benefits: Contributions made to an HSA are deductible, within limits, Earnings on the funds in the HSA aren’t taxed, Contributions your employer makes aren’t taxed to you, and Distributions from the HSA to cover
CPA Practice
NOVEMBER 6, 2023
AICPA News is a round-up of recent announcements from the American Institute of Certified Public Accountants. AICPA & CIMA and Maria Curie-Skłodowska University launch joint program to empower students for career success AICPA & CIMA, together as the Association of International Certified Professional Accountants, teamed up with Maria Curie-Skłodowska University in Lublin, Poland (Uniwersytet Marii Curie-Skłodowskiej, UMCS) to launch the much-anticipated CGMA University Program to its st
RogerRossmeisl
NOVEMBER 6, 2023
When preparing a business valuation, quantitative data — from tax returns, financial statements, contracts and other sources — is important. But there’s more to a company than numbers. Qualitative factors also contribute to a company’s overall value. It isn’t always easy, however, to gain insight into qualitative aspects of a business’s operations. Websites and marketing materials can provide only limited insight.
CPA Practice
NOVEMBER 6, 2023
State CPA Society News & Updates is a round-up of recent announcements and initiatives by CPA associations in the United States and its territories. NJCPA Congratulates Sofia Cordero Alves, CPA, of Mazars and Jenna Sanfilippo, CPA, of WilkinGuttenplan as AICPA 2023 Leadership Academy Selections The New Jersey Society of Certified Public Accountants (NJCPA) congratulates NJCPA members Sofia Cordero Alves, CPA , a partner at Mazars USA, LLP , and Jenna Sanfilippo, CPA, MSA , a senior tax
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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.
Going Concern
NOVEMBER 6, 2023
Good morning and happy Monday! Or whatever kind of Monday you choose to have. Here’s some news. So this dropped on Sunday, a possible merger of KPMG India, US, and UK advisory practices? Just a rumor for now. Economic Times : KPMG India, KPMG US, and KPMG UK are exploring a merger of their advisory practices, a move aimed at multiplying their consulting business in India, said multiple people with knowledge of the matter.
Cherry Bekaert
NOVEMBER 6, 2023
In the second episode of Cherry Bekaert’s Cost Accounting Standards (CAS) podcast series, Eric Poppe , a Managing Director in Cherry Bekaert’s Government Contracting Industry practice, is joined by Jeff Annessa , a Senior Manager in the Firm’s GovCon practice who spent 13+ years with DCAA and held various positions such as Quality Manager, Supervisory Auditor, Field Audit Office Manager, and Artan Ivezaj , a manager in Cherry Bekaert’s GovCon practice with 15 years of experience at the DCAA
Accounting Today
NOVEMBER 6, 2023
The Ohio Society of CPAs is working on an action plan to attract more young people to the accounting profession.
Insightful Accountant
NOVEMBER 6, 2023
For most people, this time of year is synonymous with joy, festivities, and of course, holiday shopping. However, for business owners and individuals alike, it can also be a season of financial stress and anxiety.
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
CPA Practice
NOVEMBER 6, 2023
The latest forecast from the National Retail Federation estimates holiday spending is expected to reach record levels during November and December and will grow between 3% and 4% over 2022 to between $957 billion and $967 billion. “It is not surprising to see holiday sales growth returning to pre-pandemic levels,” NRF President and CEO Matthew Shay said.
Insightful Accountant
NOVEMBER 6, 2023
This is your chance to connect with your peers, find out the latest updates, and explore best practices and industry trends on December 5-6, 2023. The theme is Niches, Trends, and Predictions of 2024.
Xero
NOVEMBER 6, 2023
Xero has the pleasure of welcoming seven new members to its new Xero Partner Advisory Council (XPAC). The XPAC has been reintroduced into Aotearoa and is made up of a diverse panel of accountants and bookkeepers who are both thought leaders and trailblazers for the needs of the sector. The latest members are as follows: Trudi Ballantyne – Director, Stem Rural Accountants Limited Louise Holmes – Director, Red Office Limited Manoli Aerakis – Managing Director, Malloch McClean T
Insightful Accountant
NOVEMBER 6, 2023
As we approach the opening of the 2024 ProAdvisor Awards process, I wanted to remember all candidates of what it takes to make it to the top. In 2021, Matt Fulton set-down the "right stuff" when it comes to being 'Best of the Best.
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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.
GrowthForceBlog
NOVEMBER 6, 2023
5 min read Cautionary tales of robot takeovers and the dangers of artificial intelligence (AI) fill the world of science fiction. While all new technologies should be regarded and adopted with caution and prudence, artificial intelligence stands to revolutionize the financial management industry (along with several other industries and aspects of our lives).
Insightful Accountant
NOVEMBER 6, 2023
A new Intuit QuickBooks report unveils what might be one of the biggest consumer shopping trends for this holiday season: shopping small.
Cherry Bekaert
NOVEMBER 6, 2023
Company Background An award-winning residential real estate home builder with projects in Georgia and South Carolina was able to take advantage of the Section 45L Energy Efficient Home Credit (Section 45L) to save more than $350,000. The Company, which was founded in 2004, builds unique residential homes focusing on resource conservation. The Company has five operating locations and 19 employees.
Going Concern
NOVEMBER 6, 2023
Another day, another list, another instance of us typing “another day, another list.” The list-making powerhouse that is Vault released their 2024 100 Best Internships ranking and while it isn’t a surprise to see it packed with accounting firms, it is surprising that one of them topped said list. With a score of 9.597, PKF O’Connor Davies Internship Program outranks all 99 other players as the best of the best for interns and jumped from the 70th spot in 2023 to first pla
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.
CPA Practice
NOVEMBER 6, 2023
Professionals on the Move is a round-up of recent hiring and promotion announcements from around the profession. KPMG LLP names Rema Serafi Vice Chair – Tax KPMG LLP, the U.S. audit, tax, and advisory firm, recently announced that Rema Serafi (@remaserafi) has been named Vice Chair – Tax, succeeding Greg Engel who is retiring after four decades of service.
LSLCPAs
NOVEMBER 6, 2023
Companies seeking to minimize taxes in the exhilarating world of M & A frequently accomplish it through an F-Type Reorganization—also called an F- Reorganization. The “F” comes from Internal Revenue Code Section 368 (a) (1)(F), with subparagraph F allowing a single corporation to change its identity, form, or place of organization without incurring a tax.
CPA Practice
NOVEMBER 6, 2023
A Big Four accounting firm audited the most companies going public in the third quarter of this year, as total initial public offerings increased 32% over the second quarter, according to a new analysis by Ideagen Audit Analytics. Forty-five IPOs raised a combined total of $9.2 billion during Q3, up from 34 IPOs and $7.4 billion raised in Q2. So far there have been 125 IPOs in 2023 that have raised roughly $19.7 billion in total proceeds.
Accounting Today
NOVEMBER 6, 2023
A German banker was sentenced to three years and three months for his role in the international tax trading scandal.
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