Fri.Jan 26, 2024

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Unveiling the Secrets to a Calm Tax Season

Insightful Accountant

Accountants often face stress and burnout, impacting their well-being. Recognize the toll it takes on your health. A comprehensive guide offers 5 simple steps tailored for professionals like you to bring calm and balance back into your life.

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IRS and tax pros gird for filing season amid congressional uncertainty

Accounting Today

The Internal Revenue Service and tax professionals are preparing for the start of tax season Monday, hoping for a smooth filing season like last year, although last-minute tax law changes are possible thanks to a deal working its way through Congress to revive tax breaks like a more generous Child Tax Credit.

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How to Get the California Franchise Tax Board to Accept Your Offer in Compromise

MyIRSRelief

The Offer in Compromise (OIC) is a powerful tool for taxpayers who are unable to pay their full tax liability. It allows taxpayers to settle their tax debt for less than the full amount owed, potentially saving them significant amounts of money. However, getting an OIC accepted by the California Franchise Tax Board (FTB) can be a complex and challenging process.

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PCAOB levies $590K in fines over Haynie audits

Accounting Today

The Public Company Accounting Oversight Board also permanently barred a sole practitioner in New York.

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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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The Accounting Technology Lab Podcast: CES Jan. 2024 Innovation Awards

CPA Practice

Randy Johnston and Brian Tankersley, CPA, offer their take on the best technologies at CES 2024 in Las Vegas in January. Check out their video on the best professional technologies from this year’s CES at [link]. We now offer this podcast with video: Transcript (Note: There may be typos due to automated transcription errors.) SPEAKERS Randy Johnston, Brian F.

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ROI – NJ Power List 2024

Withum

Withum is proud to share that New Jersey business publication ROI-NJ has named Bill Hagaman, Ed O’Connell, and Pat Walsh to their 2024 Power Influencer List in Accounting. Bill Hagaman , Partner and Immediate past Managing Partner and CEO, has been a member of the Firm’s management for over 30 years and specializes in merger and acquisition services and international business.

More Trending

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Tech news: Drake Software releases DrakePay for accounting pros

Accounting Today

Plus, Prismatic launches multi-entity business solution with blockchain-like technology; and other accounting technology updates.

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IRS-CI to Host ERC Seminars for Tax Professionals

CPA Practice

The IRS Criminal Investigation unit will hold educational sessions for tax professionals about the employee retention credit (ERC) next month, the agency announced on Jan. 25. “CI special agents will host a series of educational sessions geared specifically to tax professionals about ERC at its field offices across the country,” the IRS said on Thursday.

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On the move: Lavine, Lofgren, Morris & Engelberg names next MP

Accounting Today

Armanino elevates 16 to partnership; Blue & Co. appoints next CIO; and more news from across the profession.

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Finding Top Talent To Best Serve Your Clients | Beyond the Books Podcast by AccountingDepartment.com

AccountingDepartment

We are thrilled to announce that Episode 11 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.

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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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A Book a Month: The Top 12 CEO Books for Executives to Read in 2024

GrowthForceBlog

7 min read With all of our modern technology, the written word remains the best source of learning and information. Reading is an excellent way to learn new skills, challenge your brain to think in new ways, see from new perspectives, and relax. Reading can also reduce stress by up to 68%! As every business leader knows stress management is essential to surviving and thriving in the role of CEO.

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Scaling And Adapting Business Strategies Amid Cost Of Living Crisis

Randal DeHart

When you're ready to take your construction business to the next level, you might start thinking about "scaling." No, it's not just a fancy term for growth; it's about doing more with less. Scaling is about increasing your revenue without proportionately increasing your resources—fancy yet practical, right? It's like sending an email: your effort is the same whether you send it to 100 people or 100,000.

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Bill would require IRS returns to have scannable bar code

Accounting Today

A recently introduced bill would, if passed, require the IRS to add scannable bar codes to electronically prepared paper returns, to encourage process efficiency.

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Which One of You Was This?

Going Concern

Spotted on the former bird app yesterday: A woman agreed to work for our firm. Did all the paperwork. Came in for first day of training. Took a break to “move her car.” Never came back. It’s become legend and a thing to tease the one guy she met with. She called this week asking for a second chance. What would you do? Second chance?

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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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Nonprofit accounting resolutions for a more efficient 2024

Accounting Today

As nonprofits work to combat the accounting and staff shortage, finding ways to increase efficiency is a top focus.

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Reconciled Continues to Lead Innovation in Advisory Services

Insightful Accountant

Beyond bookkeeping, Reconciled's success story is a testament to its transformative journey into comprehensive advisory services, driven by the strategic integration of Clockwork AI.

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Scaling And Adapting Business Strategies Amid The Cost Of Living Crisis

Randal DeHart

When you're ready to take your construction business to the next level, you might start thinking about "scaling." No, it's not just a fancy term for growth; it's about doing more with less. Scaling is about increasing your revenue without proportionately increasing your resources—fancy yet practical, right? It's like sending an email: your effort is the same whether you send it to 100 people or 100,000.

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HubSync Revolutionizes the R&D Tax Credit Process for CPA Firms

Insightful Accountant

HubSync Launches New Research and Development Tax Credit Product

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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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Why Won't My Team Just Accept Change?! (Part 2)

Canopy Accounting

Without change, businesses stagnate, profitability suffers, and efficiency wanes. How do you get your firm to get comfortable with change?

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Free IRS webinar on Jan. 30: Navigating Automated Collection Notices and Penalty Relief Restart

Insightful Accountant

The Internal Revenue Service will hold a free webinar, designed primarily for tax professionals whose clients were affected by the delayed notices during the COVID pandemic.

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Aprio Promotes 11 to Partner

CPA Practice

Top 30 accounting firm Aprio unveiled its newest partner class for 2024 on Jan. 24, which includes nine men and two women. “These new partners represent a part of the next generation of leadership at Aprio, embodying the values that have defined our firm for decades. Their commitment to excellence, combined with their diverse skills and experiences, will contribute to the continued success of our clients and the growth of our firm,” Aprio CEO and Managing Partner Richard Kopelman said in a state

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Charles McKissick on Strategic Outsourcing for Business Growth and Exit Planning

Insightful Accountant

Gary and Charles discuss how outsourcing can help firms grow, and scale up during busy times and how it can be an effective part of an exit strategy for firm owners.

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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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Capitalise.com & the Federation of Small Businesses (FSB) announce an exciting partnership to support UK small businesses with a new FSB Funding Platform

Accounting Insight

Capitalise.com, whose mission is to help small businesses improve their financial health, is proud to announce its partnership with FSB, a leading voice for small business owners across the UK. This collaboration is set to bring a new era of financial empowerment and growth for small and medium-sized enterprises (SMEs). Simplifying Financial Access for SMEs Capitalise is dedicated to transforming the landscape of business finance for FSB members.

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Friday Footnotes: Fired Accountant Spills the Dirty Laundry; Scandals of Yore; Gen AI For Good | 1.26.24

Going Concern

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.

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House Speaker must choose business or politics in $78B bill

Accounting Today

A growing divide is emerging between Republicans and the business interests the GOP once unflinchingly championed.

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Yellen: Biden would extend some Trump tax cuts

Accounting Today

Parts of Trump's 2017 tax-cut package will expire in 2025, and Biden would only extend tax breaks for individuals earning less than $400,000 a year.

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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?