Mon.Jun 03, 2024

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Are you managing payroll and remaining compliant?

Accounting Insight

Accountants are often juggling multiple responsibilities when working with clients. For those working in-house, in finance teams or departments, it might well be that payroll has simply fallen within their remit, and so accountants who are less familiar with the nuances of payroll find themselves tasked with completing this very important task. While there’s no doubt that accountants are experts in finance, payroll can pose new challenges.

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Accounting Today news quiz: June 3

Accounting Today

Test your accounting knowledge on Gen Z employees, big four AI partnerships, and more. No. 2 pencil not required!

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Tax Audit Representation: A Step-by-Step Guide

MyIRSRelief

Tax Audit Representation Learn how to navigate tax audits with confidence. Our step-by-step guide highlights the benefits of working with an Enrolled Agent for expert representation. Facing a tax audit can be a daunting experience, but with the right representation, you can navigate the process with confidence. In this comprehensive guide, we’ll walk you through the essential steps of tax audit representation, highlighting the benefits of working with an Enrolled Agent (EA).

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The 20 most charitable states in America

Accounting Today

Where are residents the most giving? Check out this ranking, which tracks the states with the most charitable donations, as well as volunteering and service.

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Forecasting Failures Are Costly: Here's How To Fix Them

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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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.

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2024 Accounting Thought Leader Think Tank Focused on Challenges Facing Profession

CPA Practice

Accounting, financial and tax professionals continue to face challenges related to talent, data security, regulations, and rapid changes in technology and firm culture. As the annual AICPA ENGAGE conference was set to convene in Las Vegas, dozens of firm leaders, educators, consultants and advisors to the profession met on Sunday, June 2, 2024, for a day-long pre-conference Thought Leader Think Tank to discuss these and other issues.

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2 methods to avoid capital gains in a home sale

Accounting Today

The Section 121 exclusion and the step-up in basis are well known to financial advisors and tax professionals, but their clients will need to plan carefully to net the biggest potential savings.

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More Trending

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GASB finds pension standards met objectives

Accounting Today

The Governmental Accounting Standards Board released a post-implementation review report on its pension standards and found they mostly accomplished their goals.

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Ledgible Rolls Out SpecID Feature for Digital Asset Tax Reporting

CPA Practice

Ledgible has made available new functionality for specific identification tax calculations, the crypto tax and accounting platform said on May 29. Ledgible’s specific identification support enables users to identify and mark digital assets of noted sales to calculate tax based on the designated tax lots. Using specific identification, Ledgible users can optimize tax calculations tailored to their specific needs, the company said.

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Practice Profile: Rehmann assembles a team to take on the future

Accounting Today

Stacie Kwaiser is setting the direction of the Top 100 Firm based on her own vision — and the collective ideas of the firm

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Canopy Roadmap Webinar Q&A

Canopy Accounting

We were thrilled to see your excitement and participation. Despite several people responding to your questions in real-time, so many still came in. Thank you for your curiosity and requests. Our shared roadmap is incomplete but focused on our most prominent features that have been fully committed to and prioritized.

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

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

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New chief taxpayer experience officer named at IRS

Accounting Today

Agency veteran Fumino Tamaki and her staff will work with other IRS units to apply customer service best practices.

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How to Pay Your Bill Online

Anders CPA

Anders partners with Aiwyn for invoicing and payments. Anders clients can securely pay invoices via credit or ACH transfer through Aiwyn by logging in through the button below. Need help paying online? Visit our Client Center for payment how to’s and an Aiwyn video tutorial. LOGIN TO PAY ONLINE The post How to Pay Your Bill Online appeared first on Anders CPA.

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Art of Accounting: Building wealth

Accounting Today

CPAs do very good jobs helping clients build wealth, but many do not do so good with themselves. Here are some tips to help you grow your wealth.

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ShareFile Introduces New Accounting Functionalities

Insightful Accountant

ShareFile recently introduced several new features tailored to the evolving needs of accounting professionals.

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Book of Secrets on the Month-End Close

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.

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Forvis and Mazars combine on global network

Accounting Today

The global accounting network will have a combined $5 billion in revenue, 40,000 employees and nearly 1,800 partners in 103 different countries.

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QuickBooks Recertification Training For June, 2024

Insightful Accountant

It's time for most QuickBooks Online ProAdvisors ('Core' or 'Advanced') to Recertify. June 30, 2024 is the deadline for Recertification Exam completion.

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Taking her firm forward

Accounting Today

Laura Sprouse, the new CEO of Top 100 Firm Brown Edwards, shares her path to leadership, and where she's taking her firm in the future.

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Importance of Impact Accounting With IFVI

Withum

In this episode of Civic Warriors, we speak with Rob Zochowski, President and CEO of International Foundation for Valuing Impacts (IFVI) on the importance of impact accounting.

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

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?

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Autodesk CFO replaced by board after accounting investigation

Accounting Today

The software maker's shares soared by the most in more than a year after the company reassigned its chief financial officer, resolving an internal accounting investigation that delayed filings for weeks.

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Integrating tax technology for success: Thomson Reuters ONESOURCE solutions certified as SAP Endorsed Apps

ThomsonReuters

Managing tax compliance is challenging enough with changing global regulations and tight staff limitations. Combine those challenges with manual data entry and disparate systems, and it becomes an inefficient quagmire of time-consuming, tedious tasks. The problem with ad hoc tax compliance workflows Companies are trying to address these challenges with technology, but too often, they’re not creating the desired efficiencies.

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Boomer's Blueprint: With AI, it's not the tool that determines your success

Accounting Today

Making the most of artificial intelligence requires leadership, project management and process management.

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Natural Disasters and Their Impacts on Resorts: Strategic and Insurance Accounting Considerations

Withum

In the vast and intricate tapestry of Earth’s dynamic ecosystems, natural disasters emerge as awe-inspiring yet devastating phenomena that have changed how we approach our day-to-day lives and manage our property. In recent years, there seems to have been an uptick in the frequency and devastation from the earth-shattering tremors of earthquakes, the emptiness left behind by fires and flooding, and the majestic fury of hurricanes and tornadoes, to name a few.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.

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M&A roundup: CLA, Marcum, Doeren Mayhew, Rea expand

Accounting Today

Former Baker Tilly member firms in Mexico joined CliftonLarsonAllen Global to create CLA Mexico; Marcum Technology acquired CLA's IT Enhanced Managed Services Division; Doeren Mayhew acquired Nearman, Maynard, Vallez CPAs; and Rea & Associates merged in Koontz & Parkin, CPAs.

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2024 Tax Deduction for Meals and Entertainment

Dent Moses

The meals and entertainment deduction has gone through several revisions in recent years. Before 2018, meals and entertainment were eligible for a 50% tax deduction. Beginning with the 2018 tax year, the Tax Cuts and Jobs Act eliminated the deduction for entertainment expenses altogether, while most meals remained 50% deductible. In 2021 and 2022, the Consolidated Appropriations Act temporarily gave taxpayers a 100% deduction for certain meals in an effort to support restaurants impacted by COV

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MicroStrategy and its co-founder Saylor will pay $40M to settle DC tax fraud lawsuit

Accounting Today

The Washington, D.C., attorney general's office sued Saylor in August 2022, alleging the crypto billionaire had failed to pay more than $25 million in income taxes.

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Hancock Askew Adds Nine New Partners

CPA Practice

Top 200 accounting firm Hancock Askew & Co. hit a milestone on May 31, as it admitted nine professionals to the partnership—the biggest new partner class in the Savannah, GA-based firm’s 114-year history. Hancock Askew has experienced significant growth, increasing from $20 million in revenue, four offices, and about 140 team members in 2020 to $60 million in revenue, seven offices, and 300 professionals in 2024.

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New Software & You: Elevating Your Tech Stack

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!

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One Minute Primer on Ponzi Schemes

FraudFiles

In this one minute video, Tracy explains how Ponzi schemes work. They are also called pyramid schemes because the constant recruitment of new "investors" creates the shape of a pyramid, with many new investors required at the bottom of the pyramid to pay "returns" to the earlier investors. The hallmarks of a Ponzi scheme include: [.

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Rea & Associates Merges in Koontz & Parkin in Florida

CPA Practice

Top 100 accounting firm Rea & Associates has merged in Sarasota, FL-based CPA firm Koontz & Parkin, effective June 1. Financial terms of the deal weren’t disclosed. Koontz & Parkin and Rea & Associates will be one firm under the Rea name, continuing to operate out of the Koontz & Parkin office in Sarasota, in addition to Rea’s Ohio offices.

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3 Minutes with John Toon

Accounting Insight

John is Tech Advisory Lead at Beever & Struthers, Chartered Accountants and Business Advisors and also hosts the UK’s fastest-growing accounting tech podcast. How did you get into the profession? I kind of fell into accounting. I was expecting to pursue a career in sports science but gave up on going to university after working for PGL and other outdoor companies for 3 years.

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Vena Integrates Microsoft PowerPoint Into Platform

CPA Practice

Business planning software provider Vena recently introduced Vena for Microsoft PowerPoint, a native integration with Microsoft 365 that enables strategic finance and operations teams to provide insightful financial presentations. Vena for Microsoft PowerPoint combines Vena’s reporting and analytics capabilities with the advanced productivity and collaboration features of Microsoft 365 and Microsoft PowerPoint’s familiar interface to help finance teams build presentations that turn data into imp

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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.