CPA Practice

APRIL 5, 2024

Earlier this week WalletHub released a study that shows which states’ residents have the highest and lowest tax burden , measured as the proportion of total personal income that residents pay toward state and local taxes. Another study released this week , from credit-building platform Self Financial, analyzed the lifetime cost of tax in the U.S. The study looks at how much tax the average person is estimated to pay in each state throughout their lifetime.

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West Virginia Rhode Island South Dakota North Dakota 126

Going Concern

APRIL 5, 2024

A federal grand jury in Newark, New Jersey, returned an indictment Wednesday charging tax preparer Leon Haynes of Teaneck, New Jersey with fraudulently seeking more than $150 million from the IRS by filing more than 1,600 false tax returns for himself and his clients that claimed COVID-19-related employment tax credits. He’s looking at 55 counts of aiding and assisting in the preparation of false tax returns, five counts of mail fraud, one count of aggravated identity theft and two counts

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tax preparation tax return New Jersey Tax 116

Accounting Today

APRIL 5, 2024

CohnReznick appoints first president of global operations; Maxwell Locke & Ritter rebrands, and more news from across the profession.

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Kansas 119

CPA Practice

APRIL 5, 2024

By Annette Cary, Tri-City Herald, Kennewick, Wash. (TNS) A Kennewick tax preparer cost the United States $42 million in lost tax revenue between 2017 and 2020 after filing tax returns that were riddled with errors, fabrications and fraudulent entries, alleges the Department of Justice. The Department of Justice filed a civil complaint in Eastern Washington District U.S.

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tax return Tax tax preparation income tax 103

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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Accounting Today

APRIL 5, 2024

A new study analyzing 110 years of state-level tax policies shows a migration of wealthy Americans to low-tax jurisdictions.

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income tax Tax 124

Patriot Software

APRIL 5, 2024

If you’re like many business owners, you know that you have to handle certain tasks, like purchasing items, taking on debt, or putting your own money into your business, to get your venture up and running. And when your company processes any type of transaction, whether it’s debt, purchases, etc.

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general ledger accountant accounted Account 89

Randal DeHart

APRIL 5, 2024

Running a small construction business may seem like hopping from one task to another, needing more support and guidance. That can make it tempting to let some to-dos on your checklist slide, especially those related to finances, which can be challenging and are often outside your preferred skill set or experience. The issue, of course, is that clients can only pay you once you've invoiced them.

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Construction Finance 84

Accounting Today

APRIL 5, 2024

The Top 100 Firm has merged in ITR Economics to boost its advisory capabilities.

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GrowthForceBlog

APRIL 5, 2024

7 min read According to the Bureau of Labor Statistics , some estimates show that only 5% of total work hours in the U.S. were remote before the pandemic, and a whopping 50% of work hours were remote between April and December of 2020. From 2019 to 2021 shutdowns related to the global pandemic pushed businesses to transform their operations and structure.

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Accounting Today

APRIL 5, 2024

A look at the numbers behind the biggest firms in accounting this year.

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accountant Account accounted 130

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.

Account

AccountingDepartment

APRIL 5, 2024

We are thrilled to announce that Episode 16 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.

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accounting careers accountant accounted Account 89

Accounting Today

APRIL 5, 2024

Bloomberg Tax and Accounting launches suite of integrated solutions; Nominal launches generative AI ERP; and other accounting technology news and updates.

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Technology Tax accountant Account 92

ThomsonReuters

APRIL 5, 2024

Businesses that do not have sound tax provision processes are at an elevated risk of damaging their company’s financial health. That’s because interim tax reporting plays a pivotal role in providing valuable financial information between annual reporting periods. By understanding the significance of interim tax reporting and following best practices, businesses can effectively navigate this process.

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Tax income tax financial statements accounting standards 68

Accounting Today

APRIL 5, 2024

The high court heard arguments in a case about a commonly used succession planning tool for closely held businesses that may affect advisors' clients.

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Tax 83

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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.

financial statements

Nancy McClelland, LLC

APRIL 5, 2024

Photo by coco tafoya on Unsplash As my readers and colleagues know, I’m a huge proponent of leveraging technology to remove the drudgery from our jobs and those of our small business clients. We all have enough on our plates already! As a CPA whose company works with loads of small businesses that need to process payroll, I’ve used quite a few payroll systems through the years… and Gusto has become our favorite.

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tax preparation Tax bookkeeping payroll 52

Accounting Today

APRIL 5, 2024

Ideagen Audit Analytics' report shows mid-tier auditors taking market share from smaller firms.

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audit auditor 86

Insightful Accountant

APRIL 5, 2024

The Internal Revenue Service today advised taxpayers, including self-employed individuals, retirees, investors, businesses, and corporations about the April 15 deadline for first-quarter estimated tax payments for tax year 2024.

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Tax 52

Accounting Today

APRIL 5, 2024

The 'client manager system' approach is unique in mid-market firms, because clients are developed at the top and trimmed from the bottom.

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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

Sales

Ronika Khanna CPA,CA

APRIL 5, 2024

The deadline to file tax returns is quickly approaching, resulting in various degrees anxiety for some taxpayers and accountants. The good news is that the stress can be managed fairly easily with some simple organization techniques. The most effective starting point is to evaluate your tax situation and prepare a checklist of the documentation that you will need with respect to your specific tax situation.

Tax 52

Tax tax return Education accounting and finance 52

Accounting Today

APRIL 5, 2024

Accounting firms looking to add advisory services need to pick from among three profitable models.

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accounting firms accountant Account accounted 61

Going Concern

APRIL 5, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

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auditor audit Oklahoma CPA 103

CPA Practice

APRIL 5, 2024

By Erik Wasson and Samantha Handler, Bloomberg News (TNS) Senate Republicans are poised to sink a $78 billion tax-cut package, gambling that they’ll win the majority in November and can push then for bigger breaks for business. They also don’t want to hand President Joe Biden an election-year victory on the legislation, which includes both child and business tax breaks, lawmakers and aides have said.

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Tax Idaho Kentucky Gambling 105

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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.