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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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
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
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 automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.
Accounting Today
OCTOBER 31, 2024
Liability insurance experts examine the current landscape of risk.
CPA Practice
OCTOBER 31, 2024
The Financial Accounting Standards Board (FASB) has published a proposed Accounting Standards Update (ASU) intended to improve the requirements for identifying the accounting acquirer in FASB Accounting Standards Codification Topic 805, Business Combinations. The proposed ASU is based on a recommendation of the Emerging Issues Task Force (EITF). Stakeholders are encouraged to review and provide input on the proposed ASU by December 16, 2024.
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
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.
Accounting Today
OCTOBER 31, 2024
The accounting industry looks different today. Here's how to use that to your advantage.
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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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.
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.
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: 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.
CPA Practice
OCTOBER 31, 2024
Tax compliance automation software maker Avalara, Inc. , which is also a Workday Certified Integration Partner, has launched its Avalara E-Invoicing and Live Reporting solution (Avalara ELR) for Workday users. The solution is available on the Workday Marketplace. Leveraging “Built on Workday,” a program that empowers Workday partners to create and market pre-built apps to solve customers’ business and industry challenges, the Avalara ELR solution gives customers a robust tax automation tool to h
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.
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.
Accounting Today
OCTOBER 31, 2024
A handful of Illinois politicians are once again eyeing a new tax on the highest earners.
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.
CPA Practice
OCTOBER 31, 2024
Sage , a provider of accounting, financial, HR and payroll technology for small and mid-sized businesses (SMBs), has announced a partnership with Artis Trade Systems “Artis”, to automate document data entry and accelerate financial and document workflows for Secured Finance Lenders, Transportation and Commercial Companies. Artis is a technology company that provides performance tools for Secured Finance Lenders to increase efficiency, reduce costs, generate new sources of revenue and reduce cred
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.
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
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: 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 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
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.
Insightful Accountant
OCTOBER 31, 2024
Sage and Artis Trade have jointed forces to accelerate document automation and drive efficiency in secured finance.
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.
Speaker: Aaron Berson
Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g
Insightful Accountant
OCTOBER 31, 2024
Withum has created automated workflows that foster consistency, collaboration and scalability.
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.
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.
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.
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