Wed.Jul 10, 2024

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Be Audit Ready: Essential Steps for Pension and OPEB Reporting

LSLCPAs

LSL Webinar “Back to Basics | Pension & OPEB for Beginners,” presented by Riley, CPA Greenlee & Krystal Cabrera , CPA lead you through the necessary steps on preparing for audits related to pension and Other Post-Employment Benefits (OPEB) reporting. In case you missed it – this article will guide you through the types of. The post Be Audit Ready: Essential Steps for Pension and OPEB Reporting appeared first on LSL CPAs.

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Tax Tools for Startups: Ensuring Compliance and Maximizing Benefits

BurklandAssociates

A guide to the tax tools in Burkland’s startup tax toolkit, grouped by the type of tax obligations they address. The post Tax Tools for Startups: Ensuring Compliance and Maximizing Benefits appeared first on Burkland.

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The Fastest-Growing Firms: The secret sauce of growth

Accounting Today

Some of Accounting Today's fastest-growing firms share what turbo-charged their expansion over the past year.

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California Suspends NOLs and Limits Credit Utilization

Withum

Faced with California’s $45 billion budget deficit, Sacramento lawmakers continue to grapple with how to cure the shortfall. It comes as no surprise that in late June, the state’s Lt. Gov. Eleni Kounalakis, in her role as acting governor, and Gov. Gavin Newsom signed Senate Bills 167 and 175. The bills’ passage resulted in suspending the net operating loss deduction for businesses with greater than $1 million in income and limiting business tax credit utilization, along with other changes.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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Intuit plans to replace 1,800 employees

Accounting Today

The laid-off workers will be replaced by specialists in engineering, product, and customer-facing roles as part of Intuit's larger AI plans.

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IRS Issues FAQs About Clean Fuel Production Credit Registration

CPA Practice

The IRS on Wednesday issued frequently asked questions (FAQs) in Fact Sheet 2024-25 related to which entities must apply for registration for the Clean Fuel Production Credit. The Inflation Reduction Act of 2022 added a new income tax credit for clean fuel production, available beginning Jan. 1, 2025. The Section 45Z tax credit under the Inflation Reduction Act is available for clean fuel produced by a taxpayer at a qualified facility from 2025 through 2027.

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Are You Ready for July 31, 2024?

Insightful Accountant

Do you realize that July 31, 2024, is only 21 days away when Intuit will stop selling QuickBooks Pro and Premier to new subscribers? "What are you prepared to do?

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The Fastest-Growing Firms: Challenges to growth

Accounting Today

Some of Accounting Today's 2024 Fastest-Growing Firms share the obstacles they had to overcome to turbocharge their revenue.

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Do I Have an Insurance Claim Due to the CDK Global Cyberattack?

Withum

In recent weeks, CDK Global’s customers experienced (and continue to experience) an outage of their dealer management system. This outage has negatively impacted dealerships’ sales, financing, and parts and service revenue streams. In addition, dealers have been forced to spend time and resources dealing with the emergency. At first, it was widely thought that the outage would be short-lived with minimal impact, but as time passed, the realization that this event could have a meaningful negative

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Weather victims in Mississippi, Iowa get tax relief

Accounting Today

The IRS is pushing back both filing and payments deadlines for impacted taxpayers.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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Hidden Fees Surprise E-Commerce Shoppers as Global Sales Challenges Increase

CPA Practice

A new analysis by Avalara that explores the impact of cross-border complexity on businesses and consumers globally reveals that younger consumers are at the forefront of cross-border shopping. Avalara, Inc. is a provider of tax compliance automation software for businesses of all sizes. Around two-thirds of both the 16–24-year-old (63%) and 25-34-year-old (68%) age groups surveyed made international purchases in the last year, compared to only 41% of shoppers over the age of 55.

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Dean Dorton acquires SaaS solutions provider

Accounting Today

The acquisition will expand the Top 100 Firm's portfolio of specialized accounting software and ERP solutions, particularly in the manufacturing and distribution sectors.

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Workflow insights from the 2024 Tax Professionals Report

ThomsonReuters

It’s back to business fundamentals for many tax and accounting firms as 2024 shapes up to be a year of re-assessment and re-building, according to the Thomson Reuters Institute 2024 State of Tax Professionals Report. Jump to: A deeper look at efficiency and automation The intersection of challenges and priorities in tax workflows A bright future awaits in workflow for tax professionals According to the survey, firms are taking stock of their strengths and weaknesses this year — and moving forwar

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Inside Direct File: How the IRS built its free tax prep program

Accounting Today

The head of the Internal Revenue Service's Direct File program cites careful scoping and a blended team of government and private sector for making it work.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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Did Chevron Just Eliminate Cannabis Rescheduling?

Insightful Accountant

The recent Supreme Court decision overturning the Chevron doctrine has sent shockwaves through the regulatory landscape, with potentially significant ramifications for the cannabis industry.

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Becker Launches Tax Representation Training with Tax Rep Network

CPA Practice

Becker , a provider of accounting exam prep and professional education, has launched tax representation training in partnership with Tax Rep Network , an education and training resource for tax and accounting professionals. The training will include webcasts and on-demand continuing professional education (CPE) courses for tax practitioners and firms looking to expand their services and represent taxpayers in front of the IRS.

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Michael Ritchie Named the M&A Advisors Emerging Leader

Withum

Withum is proud to share that Michael Ritchie , Senior Manager, was recognized by The M&A Advisor on their 15th Annual Emerging Leaders list. Michael is a Senior Manager on Withum’s Transaction Advisory Services Team. He has over 15 years of experience and specializes in transaction advisory on both the buy and sell sides, M&A strategy, and working with sellers for go-to-market strategies across multiple industries.

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IRS issues FAQ on Clean Fuel Production Credit

Accounting Today

Notice 2024-49 and a new set of frequently asked questions from the Internal Revenue Service offer more clarity around the credit.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Professionals of All Stripes Are Uncharacteristically Optimistic About This Whole AI Thing

Going Concern

In a surprising development, it seems professionals are feeling great about how AI can impact their work in the near and slightly less near future. That’s according to the Future of Professionals Report 2024 just released by Thomson Reuters which you can view in its entirety here. 620 of the survey’s more than 2200 respondents are in tax, accounting, and global trade while 115 are in risk and compliance-type jobs, the rest are in legal (1253) or C-suite execs (217).

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The Fastest-Growing Firms: Opportunities ahead

Accounting Today

Some of Accounting Today's 2024 Fastest-Growing Firms share what they're excited about for the future.

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Deloitte Ups Its Brainwashing Game in Europe and It’s Beautiful

Going Concern

Deloitte announced yesterday that there’s a new brainwashing compound in town, baby! The new Deloitte University EMEA (Europe, Middle East and Africa) is ready at last to be packed with throngs of eager learners. Said the press release put out by Deloitte Belgium , the state-of-the-art learning facility located in the Val d’Europe area in Paris, France spans more than 22,000 square meters (That’s 236806.03 square feet for us superior imperial unit users).

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Accounting Firm Adds New Subsidiary, Schneider Downs Capital

CPA Practice

Schneider Downs & Co. introduces a new subsidiary: Schneider Downs Capital LLC (SD Capital), a focused team of value advisors specializing in middle market transactions. The new entity, SD Capital , will guide owners in maximizing business value from early-stage planning through final transaction. It merges middle-market M&A investment banking services from Schneider Downs Corporate Finance, LP with strategic value advisory services aimed at enhancing pre-transaction value, evaluating do

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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The Supreme Court had an eventful term — here's what its decisions mean for financial advisors

Accounting Today

The decisions indicated that justices will use far stricter scrutiny of government regulations moving forward, and some cases dealt a direct impact right away.

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Decision Making Managers

Withum

Decision making is key to a manager’s job. Accordingly, managers should know their strengths and weaknesses in this area so that they can hone and improve their decision making. You also should want to make as many decisions as possible while avoiding errors and making the best of your staff. I have a client who has a great strength in making quick decisions.

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PwC starts mass China layoffs

Accounting Today

Following an exodus of major clients, Big Four firm PricewaterhouseCoopers is cutting at least a hundred employees in China.

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Your Clients Don’t Care About What You Do

Ryan Lazanis

Your clients aren't interested in your processes or tasks. Discover what they truly want and how you can better satisfy their needs. The post Your Clients Don’t Care About What You Do appeared first on Future Firm.

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AP Automation: The Competitive Advantage Your Business Needs

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging technology to drive productivity and cost savings. So, how do you make the case for automation within your organization?

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9 ways not to think about pricing

Accounting Today

Too many accountants use these arguments to avoid charging clients what they should.

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Tax Update for Manufacturers: Clean Energy Tax Credits

Withum

The Inflation Reduction Act of 2022 has granted manufacturing, distribution and logistics companies new credit opportunities for maximizing the utilization of clean energy. Let’s discuss the extension and modification of Section 48, “Clean Energy Investment Tax Credit,” the new Section 45X, “Advanced Manufacturing PTC” and the monetizing of the Federal Income Tax Credit and Statutory vs.

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Cincinnati CPA Firm Changes Name After Partner Retires

CPA Practice

As the firm celebrates its 40th anniversary, Cincinnati-based accounting firm Burke & Schindler changed its name on July 1 to Burke CPAs & Advisors a year after the retirement of one of its partners. Cincinnati Business Courier reported : [T]he East End-based CPA firm celebrates 40 years since its humble beginnings when Pat Burke launched it in Hyde Park.

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Pension and OPEB Reporting: Key Steps and Best Practices

LSLCPAs

LSL Webinar “Back to Basics | Pension & OPEB for Beginners,” presented by Krystal Cabrera, CPA and Riley Greenlee, CPA outlined the fundamentals of pension and Other Post-Employment Benefits (OPEB) for beginners. In case you missed it – here, we walk you through the necessary steps to determine which plans need to be reported, outline.

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Fall In Love With the Month-End Close

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.