ThomsonReuters
OCTOBER 31, 2024
Jump to ↓ 1. What is the Corporate Transparency Act (CTA)? 2. Why was the Corporate Transparency Act introduced? 3. Who needs to file a Beneficial Ownership Information (BOI) report? 4. What information must be provided by beneficial owners? 5. What are the penalties for non-compliance? 6. How does the CTA impact accounting professionals? 7. What tools can accounting professionals use to stay compliant with the CTA?
CPA Practice
OCTOBER 31, 2024
A new Avalara survey of U.S. tax professionals responsible for managing sales tax obligations for independent retailers reveals that 97% of respondents say they have automated or plan to automate their sales tax compliance process. Of those respondents, 46% mostly automate with minimal manual oversight, 34% fully automate, and 15% partially automate the process.
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Going Concern
OCTOBER 31, 2024
Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Sign up now to view the complete candidate list and connect with potential hires.
CPA Practice
OCTOBER 31, 2024
Tax technology provider Vertex recently released new innovations, honored partners and fostered big ideas in the world of tax technology at its annual Vertex Exchange conference in New Orleans, Louisiana. Bringing together a record number of attendees—industry leaders, tax professionals, and technology innovators focused on the future of tax compliance while exploring the latest intelligent solutions to overcome the challenges of today’s evolving business obligations.
Speaker: Dave Sackett
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
Accounting Today
OCTOBER 31, 2024
The Georgia accountants were sentenced to periods of supervised release and have to pay millions in restitution.
CPA Practice
OCTOBER 31, 2024
Financial Cents, a provider of practice management solutions for accounting firms, has launched a new Community-Driven Template Library. In this collaborative space, accounting professionals can share, discover, and adopt workflow templates designed to increase efficiency and simplify firm operations. This new library offers access to a diverse range of templates curated by industry experts and tailored to the unique needs of accounting and bookkeeping professionals.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
OCTOBER 31, 2024
Centime, a Boston-based fintech that offers comprehensive cash management solutions to small and midsized businesses (SMBs), is partnering with expense management solutions provider Fyle to add expense management to Centime’s platform. Centime’s comprehensive cash management solutions help companies streamline accounts payable, accounts receivable, and banking.
Accounting Today
OCTOBER 31, 2024
To the mat; extra help; FACS of the case; and other highlights of recent tax cases.
CPA Practice
OCTOBER 31, 2024
Top 15 accounting firm Crowe said on Oct. 31 it has launched a human capital consulting practice , led by seasoned industry specialist Joy Duce. The new service offering provides organizations of all sizes across industries with tailored solutions to manage the full employee life cycle—from policies and processes to due diligence, regulatory obligations, and more, Crowe said in a media release.
Accounting Today
OCTOBER 31, 2024
The accounting industry looks different today. Here's how to use that to your advantage.
Speaker: Erroll Amacker
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
CPA Practice
OCTOBER 31, 2024
By Jim Wesloh Navigating the challenging landscape of cost accounting within the framework of federal contracting requires an understanding of both the Federal Acquisition Regulation (FAR) and Generally Accepted Accounting Principles (GAAP). Below we explore these topics with particular focus on the categorization and management of costs. As businesses engaged in federal contracting strive to maintain compliance and optimize their financial operations, understanding the delineation between direc
Menzies
OCTOBER 31, 2024
Menzies LLP - A leading chartered accountancy firm. The recent Budget has painted a mixed picture for the Transport and Logistics sector. Our Transport & Logistics Team have summarised the key changes that will impact the T&L Sector. Freeze in Fuel Duty The Budget has delivered a mixed picture for the Transport and Logistics sector. On the positive side, the freeze in fuel duty is a relief for road haulage businesses.
AccountingDepartment
OCTOBER 31, 2024
In the ever-evolving landscape of business, one size rarely fits all. This is particularly true when it comes to financial management. Whether you're a burgeoning startup or an established enterprise, having a firm grasp on your finances is crucial.
Accounting Today
OCTOBER 31, 2024
The number of taxpayers filing individual income tax returns is projected to increase by about 10,000,000 over the next eight years.
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Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
Generate Accounting
OCTOBER 31, 2024
Inland Revenue (IRD) has recently announced that it is significantly expanding their compliance activities as a result of additional funding in the budget. IR will be making unannounced visits to hundreds of businesses who they believe aren’t meeting all their tax obligations as employers. These visits can lead to a full tax audit. Anonymous tip offs The businesses which will be visited have been identified from the list of nearly 7,000 anonymous tipoffs the department receives each year.
Accounting Today
OCTOBER 31, 2024
The Public Company Accounting Oversight Board released a supplement Wednesday to its staff guidance on the remediation process for auditing firms that have deficiencies in quality control that need to be fixed.
Insightful Accountant
OCTOBER 31, 2024
Vertex tax and technology conference connects leaders while showcasing AI capabilities.
Accounting Today
OCTOBER 31, 2024
The Internal Revenue Service has decided to stop automatically levying penalties when a taxpayer files a form reporting foreign gifts and inheritance bequests too late and it will start reviewing the reasonable cause statements that taxpayers provide when they file the forms too late.
Speaker: Anna Tiomina, MBA
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
Insightful Accountant
OCTOBER 31, 2024
Sage and Artis Trade have jointed forces to accelerate document automation and drive efficiency in secured finance.
Accounting Today
OCTOBER 31, 2024
The International Public Sector Accounting Standards Board released a draft version of a sustainability reporting standard for use by governments around the world.
Insightful Accountant
OCTOBER 31, 2024
Withum has created automated workflows that foster consistency, collaboration and scalability.
Accounting Today
OCTOBER 31, 2024
A handful of Illinois politicians are once again eyeing a new tax on the highest earners.
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Insightful Accountant
OCTOBER 31, 2024
App and Software Developers should know that Insightful Accountant offers 'FREE' feature content, including App Aware and First Look features covering their app or software and Advisor Alliance articles covering their partner programs.
Accounting Today
OCTOBER 31, 2024
Whenever MicroStrategy implements a new accounting rule, and values its crypto assets at market value at the end of each reporting period, that could trigger a major cash tax obligation.
Insightful Accountant
OCTOBER 31, 2024
As National Cybersecurity Awareness Month concludes and preparation for next tax season begins, the Internal Revenue Service and its Security Summit partners today reminded taxpayers to be wary of online threats like identity theft and fraud.
Accounting Today
OCTOBER 31, 2024
CPA firms continue to face unique challenges as they navigate some of the current liability issues and trends facing the profession, including beneficial ownership information filing under the Corporate Transparency Act, artificial intelligence, and cyberthreats.
Speaker: Joe Wroblewski, Senior Sales Engineer
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
Menzies
OCTOBER 31, 2024
Menzies LLP - A leading chartered accountancy firm. The Autumn Budget 2024’s increase in Employers’ National Insurance to 15% presents a significant cost burden for law firms across all structures, potentially affecting hiring and salary strategies. Despite this, planning opportunities from tax changes could benefit firms, especially those in estate and client transaction services, if client activity remains strong.
Accounting Today
OCTOBER 31, 2024
Fee increases may be discouraging taxpayers from seeking private letter rulings from the Internal Revenue Service to resolve their questions ahead of filing, according to a new report.
Going Concern
OCTOBER 31, 2024
PwC has announced global revenue numbers for FY24 (unaudited) and like their compadres at Deloitte and EY, they had a relatively ass year compared to the golden days of the Covid-and-everything-after consulting boom. For the 12 months ending 30 June 2024, PwC firms around the world reported record gross revenues of $55.4 billion USD, up from $53.1 billion for FY23.
CPA Practice
OCTOBER 31, 2024
Theresa Braine New York Daily News (TNS) Russia has fined Google $20,000,000,000,000,000,000,000,000,000,000,000, many times more than the world’s entire GDP, for blocking its YouTube accounts. That figure — a 20 followed by 33 zeroes — is $20 decillion, to the uninitiated who didn’t know such a word existed. Even the Kremlin acknowledged on Thursday that it was more a symbolic gesture than anything else.
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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