TaxConnex

DECEMBER 7, 2023

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Well into the black: Black Friday 2023 e-commerce spending jumped 7.5% from a year earlier to a record $9.8 billion in the U.S., according to a Adobe Analytics report cited by news sources. Americans spent $12.4 billion on Cyber Monday, news reports added, saying overall spending increased 9.6% from a year ago, making it the biggest online shopping day ever.

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BurklandAssociates

DECEMBER 7, 2023

Startups are saturated with information on how to best budget and forecast for the year ahead. Founders are asking questions, but they’re not asking all the questions. Negative supposition about Read More The post 2024 Predictions for Startups to Plan and Prepare for Now appeared first on Burkland.

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Accounting Today

DECEMBER 7, 2023

The Securities and Exchange Commission's chief accountant cautioned auditors and public companies about the statement of cash flows after spotting problems that could lead to a financial restatement.

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Withum

DECEMBER 7, 2023

On November 28, 2023, the Tax Court ruled that the exception from self-employment tax for limited partners does not apply to limited partners who actively participate in the partnership’s business operations. The court engaged in a “functional inquiry into the roles and activities” of the limited partners. It concluded that their level of participation was inconsistent with an exception from self-employment tax.

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Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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Accounting Today

DECEMBER 7, 2023

Municipal bond investors and government regulators could benefit from easier access to consistent, machine-readable financial data from government bond issuers.

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CPA Practice

DECEMBER 7, 2023

By Alec Regimbal, SFGate, San Francisco (TNS) The IRS has no plans to send a fourth round of stimulus checks, despite claims made in a series of widely-shared social media posts. The Facebook posts, which began appearing last month, generally repeat the same false information. They claim a fourth round of stimulus checks, with payments ranging from a few hundred dollars and a few thousand dollars, will be sent to residents of 10 states starting Nov. 30.

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Accounting Today

DECEMBER 7, 2023

Nearly one-third of public companies are using artificial intelligence in their financial reporting, according to a new survey.

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Going Concern

DECEMBER 7, 2023

Tip time! CohnReznick’s network is apparently contaminated and the firm has warned employees not to connect to it in the office under any circumstances (in red text and caps no less). In fact, they’ve told people to stay home just to be safe. Tip: All offices are working remotely with severely limited access to normal functions and systems.

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Accounting Today

DECEMBER 7, 2023

Economic conditions, including inflationary pressures, topped the list of concerns cited by executives on a new survey.

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CPA Practice

DECEMBER 7, 2023

By Esteban Fernandez, Times West Virginian, Fairmont (TNS) A Rivesville, WV, man has been indicted on charges of defrauding the IRS of at least $800,000. Jack Lee Oliver, owner and operator of the Insurance Depot on Fairmont Avenue, used a foster child he never met to inflate his tax refund, according to court documents from the U.S. Justice Department.

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Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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ThomsonReuters

DECEMBER 7, 2023

Jump to: What is the difference between amortization and depreciation? What is the difference between amortization and capitalization? Amortization expense vs. depreciation expense Benefits of amortization and depreciation Managing tangible and intangible assets Business clients need a lot of assets to run their company and they turn to you for help in ensuring tax compliance and to mitigate their tax liabilities when acquiring property.

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CPA Practice

DECEMBER 7, 2023

By Michael Sasso, Bloomberg News (TNS) Inflation has sapped 40% of Americans of their pandemic savings, making consumer spending even more reliant on the job market. Generous government stimulus payments and lock-downs that kept people at home led to “windfall” savings, Stephen Stanley, chief U.S. economist at Santander U.S. Capital Markets, said in a research note Monday.

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Cherry Bekaert

DECEMBER 7, 2023

The Financial Crimes Enforcement Network (FinCEN) released a Final Rule regarding beneficial owner information (BOI) reporting. The Final Rule addresses the circumstance when a reporting company can use a FinCEN entity identifier of a related entity when completing its BOI report. Why Is There BOI Reporting? The Corporate Transparency Act (CTA) was passed into law as part of the National Defense Authorization Act for fiscal year 2021.

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AccountingDepartment

DECEMBER 7, 2023

Last week, AccountingDepartment.com Co-Founder, Bill Gerber, and Business Development Representative, Shawn Marcum hit the road and attended the Genius Network Annual Event in Scottsdale, AZ.

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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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MineralTree

DECEMBER 7, 2023

For accounts payable (AP) teams, vendor payments are the cornerstone of business relationships. Timely, accurate, and convenient payments are not just transactions — they’re the foundation of trust and partnership. In addition to meeting supplier expectations, choosing the right payment method can significantly improve the finance department’s efficiency and productivity.

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Accounting Today

DECEMBER 7, 2023

A world view; muscle head; in the hunt; and other highlights of recent tax cases.

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Insightful Accountant

DECEMBER 7, 2023

Xero will increase the cost of their 'Cashbook' subscriptions for U.S. customers effective March 4, 2024.

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SkagitCountyTaxServices

DECEMBER 7, 2023

The end of the year, that is. That means that for your Skagit County business’s financial reporting, this is go time. Now that we’re into December, time is short to take care of your year-end accounting. This is something we specialize in so be sure to get on our calendar to set up your EOY tax planning appointment: app.acuityscheduling.com/schedule.php?

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payroll tax return payroll tax Tax 79

Speaker: David Warren and Kevin O’Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

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Accounting Today

DECEMBER 7, 2023

The International Auditing and Assurance Standards Board has unveiled a new standard for auditing smaller businesses and organizations.

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Withum

DECEMBER 7, 2023

Another significant change occurred in the 340B program after a federal judge ruled in favor of Genesis Healthcare in the Genesis Healthcare, Inc. v. Becerra court ruling on November 3, 2023. The federal judge cited that the Health Resources and Services Administration’s (“HRSA”) definition of a “patient” was too broad and that covered entities do not need to initiate a prescription for it to be filled under 340B pricing.

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Accounting Today

DECEMBER 7, 2023

More working Americans have a health savings account, but many are not using them to their fullest potential.

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Accounting Insight

DECEMBER 7, 2023

IRIS Software Group (IRIS) is today unveiling the significant growth and market adoption of its core human capital management (HCM) offerings, IRIS Cascade and Staffology By IRIS , designed to help businesses of all sizes navigate an uncertain world where managing, growing and supporting their people is a strategic goal. To support businesses both today and tomorrow, IRIS is focused on its cloud offerings which provide significant benefits for customers.

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The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.

Accounting Today

DECEMBER 7, 2023

Like other accounting firms, KPMG has been battling a fall in demand for its services caused by the tougher economic climate.

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Accounting Insight

DECEMBER 7, 2023

As we bid farewell to 2023 and look to the future, the accountancy sector is going through a number of changes. It’s undoubtedly exciting to see new tech being integrated within businesses, as well as the detailed insights it can provide, but it can also be perceived as complex or costly for those out of the loop. The same goes for regulation, which is due to shake up the accounting industry in 2024 and beyond.

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Withum

DECEMBER 7, 2023

Forensic investigations in the hospitality industry are essential for identifying and preventing fraudulent activities. The hospitality industry is a prime target for fraudsters due to the high volume of transactions and personally identifiable information (PII). This article will explore the importance of forensic investigations in the hospitality industry and the key aspects that forensic investigators consider during their work.

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Accounting Insight

DECEMBER 7, 2023

Following news that HMRC plans to shut more helplines and cut phone line access by almost a third by the end of 2024, Louise Walpole from Moneypenny warns a void in customer care could be on the horizon. Moneypenny provides outsourced call handling and live chat support to more than 21,000 businesses across the UK, including hundreds of financial services and accounting firms, and knows the importance of accessible and professional customer care all too well.

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Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

Anders CPA

DECEMBER 7, 2023

Financial metrics are important for all businesses, but each industry has specific metrics they need to monitor. Which ones should transportation and logistics businesses be on the lookout for? In this recorded Summit Virtual CFO by Anders webinar, you will learn how much cash a transportation and logistics business should have set aside, what a forecast is, why you need one, how metrics can serve as levers to increase profitability, and how to measure your pipeline.

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FraudFiles

DECEMBER 7, 2023

Expert witnesses are required to use reliable principles and methods in forming their expert opinions per the Federal Rules of Evidence. In this video, Tracy Coenen talks about Rule 702 how it applies to damage calculations done by expert witnesses.

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Anders CPA

DECEMBER 7, 2023

In this podcast episode from the Summit Virtual CFO by Anders Modern CPA Success Show , Tom Wadelton and guest co-host John Scott , Virtual CFO and legal industry leader, are joined by Terrell Turner , CEO of the TLTurner Group, to discuss the importance for non-finance professionals to understand financial metrics, specifically law firms. Terrell shares his insights on bridging the gap between accounting and non-finance professionals, emphasizing the need to align goals with the reality of the

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Menzies

DECEMBER 7, 2023

Menzies LLP - A leading chartered accountancy firm. In recent years, the world of cryptocurrencies has witnessed unprecedented growth and innovation. With the rise in use of various digital assets, including exchange tokens, NFTs (non-fungible tokens), and utility tokens, the landscape of financial transactions has evolved and it’s crucial to understand and comply with tax regulations to avoid potential issues down the line.

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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.