Patriot Software
MAY 6, 2024
As a small business owner, you need to conduct regular audits to ensure your records are accurate. Although many business owners dislike the idea of auditing, audits can be beneficial to your company. Learn more about the different types of audit below.
Accounting Today
MAY 6, 2024
Accounting firms that have embraced artificial intelligence are primarily using it to analyze documents, automate tasks and bolster client communication.
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Going Concern
MAY 6, 2024
Remember the Deloitte survey a while back that found Gen Zers were more than twice as likely as boomers to have their social media account hacked * (17% vs. 8%) and three times more likely than boomers to fall for an online scam (16% vs. 5%)? A refresher: Deloitte Survey Finds Zoomers Are 3x More Likely to Fall For Scams Than Boomers So Why Don’t More of Them Work at Deloitte Today EY released the results of its 2024 Human Risk in Cybersecurity Survey and Gen Z workers who use work-issued
CPA Practice
MAY 6, 2024
The IRS on May 3 issued frequently asked questions in Fact Sheet 2024-19 about a provision in SECURE 2.0 that provides special rules relating to distributions from retirement plans and IRAs and for retirement plan loans for taxpayers impacted by federally declared major disasters. Prior to the changes made by SECURE 2.0, which was enacted in December 2022, there was no disaster relief allowing these distributions and loans that applied generally for all major disasters.
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.
Cherry Bekaert
MAY 6, 2024
Not-for-profits (NFP) across the country often struggle with their accounting processes due to outdated software, spreadsheets and manual data entry. Sage Intacct, a cloud-based platform, can simplify accounting processes so not-for-profits can focus on the business of helping others. In this episode of our NFP podcast series, we hear about the power of Sage Intacct from Kristen Jenei, Managing Director at Cherry Bekaert, and Hina Babar, a Director at Cherry Bekaert.
CTP
MAY 6, 2024
When the Tax Cuts and Jobs Act of 2018 introduced a new $10,000 cap on state and local tax (SALT) deductions, taxpayers living in areas with high state-level taxes felt the hit. Highly-impacted states like California, Connecticut, Illinois, New Jersey, New York, or Pennsylvania quickly began searching for ways to provide relief to their taxpayers. Only individual taxpayers filing itemized deductions Schedule A are affected by this limitation.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Accounting Today
MAY 6, 2024
Among the concerns of using AI in accounting are the potential risks to the security and privacy of data.
Cherry Bekaert
MAY 6, 2024
Tennessee Franchise Tax Refund Opportunity with New Senate Bill Taxpayers must file refund claims between May 15, 2024, and November 30, 2024, to potentially qualify for this franchise tax refund. The Tennessee franchise tax has historically been calculated based on the greater of a taxpayer’s apportioned net worth, or the actual value of real and tangible personal property owned or used in Tennessee.
Patriot Software
MAY 6, 2024
To grow your business, you need to track financial information and measure performance. One metric you should be keeping an eye on is your business’s profit margin. Read on to learn how to calculate profit margin for your company and ways to improve your margins. What is profit margin?
Cherry Bekaert
MAY 6, 2024
Whether you own residential or commercial property(s), selling your real estate can be a complex process, especially when it comes to tax implications and deferral options. The good news is that the current real estate market favors sellers over buyers. With limited inventory and sustained buyer demand, real estate investors looking to sell off some of their properties while simultaneously lowering their tax bill can benefit from certain tax-deferral strategies and investment options.
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.
Patriot Software
MAY 6, 2024
Do you ever pay for business goods and services before you use them? If so, these types of prepaid expenses require special attention in your books. You need to create a prepaid expenses journal entry. So, do you know how to record a journal entry for prepaid expenses? Don’t panic if you don’t.
Accounting Today
MAY 6, 2024
The Public Company Accounting Oversight Board released a report highlighting special auditing considerations in the commercial real estate market, at a time when many office buildings have lost tenants due to remote work and empty space has grown.
Patriot Software
MAY 6, 2024
How do you fill out the most recent version of the 1099-MISC form? Learn how to fill out Form 1099-MISC and where to send completed forms. Form 1099-MISC overview Form 1099-MISC, Miscellaneous Information, is an information return that businesses use to report payments and miscellaneous payments.
Accounting Today
MAY 6, 2024
The Internal Revenue Service is falling short on its initiative to expand jobs, services, and assistance to taxpayers in underserved populations in the Mississippi Delta, according to a new report.
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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.
CPA Practice
MAY 6, 2024
The Massachusetts Society of Certified Public Accountants (MassCPAs) is proud to announce its investment in the future of accounting by awarding $182,500 in scholarships to 51 outstanding students across the state. These scholarships, presented through the MassCPAs Educational Foundation Scholarship Program, recognize exceptional academic performance and commitment to the accounting profession.
Accounting Today
MAY 6, 2024
Governor Maura Healey's $4 billion housing bond bill, the state's biggest-ever investment in its residential stock, includes a provision allowing cities to impose a transfer fee of 0.5% to 2% on property sales exceeding $1 million.
CPA Practice
MAY 6, 2024
The accounting and advisory firm Marcum LLP has acquired Croskey Lanni, PC, a notable Detroit, Michigan area-based firm with an office in Boca Raton, Florida. This transaction establishes a presence for Marcum in Michigan and enhances the firm’s capabilities in tax , assurance , technology , and financial advisory & accounting services throughout the Midwest.
Accounting Today
MAY 6, 2024
What exactly are accountants doing with artificial intelligence? Turns out, a lot.
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
MAY 6, 2024
One hundred and twenty-five staff and 24 partners from top 300 accounting firm Apple Growth Partners will join Fargo, ND-based Eide Bailly on June 24, expanding the top 20 firm’s footprint across the Great Lakes region. Financial terms of the deal weren’t disclosed. The acquisition is Eide Bailly’s second largest in its over 100-year history, according to the firm, and marks Eide Bailly’s first offices east of the Mississippi as it enters the Ohio market.
Accounting Today
MAY 6, 2024
U.S. taxes are likely to rise as lawmakers look to narrow the federal deficit, Warren Buffett said, as Washington prepares for major tax negotiations next year.
Nancy McClelland, LLC
MAY 6, 2024
Tax season is over. Take a deep breath – whether you’re a bookkeeper or tax preparer, you’ve endured plenty of stress these past months, and now you’re in the perfect space between vacation and conference season to look back and figure out how to make it go better next year. That’s what we do in our firm, anyway; I learned an amazing lesson from one of my favorite instructors, Tom Gorczynski , to plan for next tax season while the pain is still fresh in your mind!
Accounting Today
MAY 6, 2024
Jody Padar prides herself as a disrupter and rightfully so, especially in her new book.
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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.
CPA Practice
MAY 6, 2024
Thursday May 9, 2024 1:00pm ET | 12:00pm CT | 10:00am PT [link] With changes in lease accounting and emissions standards, organizations need to look beyond compliance to automating, optimizing and consolidating strategic financial systems. [This webcast is not produced by CPA Practice Advisor. ] Lease accounting leaders from PwC and LeaseAccelerator will discuss market shifts that are driving strategic changes for organizations, including scaling up to handle new standards like emissions, lever
Patriot Software
MAY 6, 2024
Although the 2024 “Tax Day” is over, tax scams live on. The IRS compiles an annual list of common scams known as the “Dirty Dozen” list. Read on to learn about the most common tax scams in 2024 to avoid falling victim to them.
CPA Practice
MAY 6, 2024
By Emily Nicolle, Bloomberg News (TNS) More than 90% of stablecoin transaction volumes aren’t coming from genuine users, according to a new metric co-developed by Visa Inc., suggesting such crypto tokens may be far away from becoming a commonly used means of payment. The dashboard from Visa and Allium Labs is designed to strip out transactions initiated by bots and large-scale traders to isolate those made by real people.
Insightful Accountant
MAY 6, 2024
Intuit has recently announced a new service called QB Live Expert Assisted Bookkeeping. However, this move has understandably sparked mixed reactions within the accounting community. Read more about it!
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
MAY 6, 2024
Top 300 accounting firm LMC has acquired Vogel & Co., an independent business management and tax advisory firm with offices in Darien, CT, and West Palm Beach, FL, that specializes in family office services for high-net-worth clients. Financial terms of the deal weren’t disclosed. This strategic partnership will provide greater value to clients by expanding the range of services and solutions they offer to address the sophisticated needs of high-net-worth families and individuals, both firms
Anders CPA
MAY 6, 2024
4/30 is the new 4/20. We’ve been predicting an April announcement, to allow for plenty of time for the process to be completed before the election, and the reschedule is right on schedule. This is fantastic news, and there have been lots of long-awaited celebrations across the industry. Now that we know that 2024 is likely the year, we’ve got to get into the weeds to understand the exact timing of the reschedule, as well as when 280E will go away – and an estimated two billion dollars will come
CPA Practice
MAY 6, 2024
Tampa, FL-based accounting platform Crete Professionals Alliance said May 2 it has raised strategic capital in a round led by Thrive Capital and Bessemer Venture Partners. The amount of capital raised wasn’t disclosed. Established in 2023 to provide an alternative to the traditional exit options for accounting and professional services firm owners, Crete PA partners with firms across the country, keeping their leadership, brand, and culture independent while providing access to its national bac
Accounting Today
MAY 6, 2024
As one of many providers of the existing and expanding capabilities, Envestnet is urging more financial advisors to consider after-tax optimization.
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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.
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