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.

West Virginia 126

West Virginia Rhode Island South Dakota North Dakota 126

Accounting Today

APRIL 5, 2024

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

Account 130

Account accountant accounted 130

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

tax preparation 115

tax preparation tax return New Jersey Tax 115

Accounting Today

APRIL 5, 2024

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

130

130

Speaker: Danny Gassaway and Wayne Richards

Finance

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.

tax return 103

tax return Tax tax preparation income tax 103

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.

income tax 124

income tax Tax 124

Accounting Today

APRIL 5, 2024

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

Kansas 119

Kansas 119

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.

general ledger 87

general ledger accountant accounted Account 87

Accounting Today

APRIL 5, 2024

Due to greater-than-expected interest, Accounting Today has moved the submission deadline for its 2024 Best Firms for Technology survey from today to Wednesday, April 10.

Technology 97

Technology Account accountant accounted 97

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.

84

84

Advertisement

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.

Technology

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.

Technology 92

Technology Tax Account accounted 92

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.

Construction 82

Construction Finance 82

Accounting Today

APRIL 5, 2024

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

audit 86

audit auditor 86

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.

Tax 68

Tax income tax financial statements accounting standards 68

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.

payroll

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.

Tax 83

Tax 83

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.

tax preparation 52

tax preparation Tax bookkeeping payroll 52

Accounting Today

APRIL 5, 2024

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

accounting firms 61

accounting firms accounted Account accountant 61

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.

Tax 52

Tax 52

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.

Finance

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.

58

58

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

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.

auditor 103

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.

Tax 105

Tax Idaho Kentucky Gambling 105

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.

CPA