Wed.Jan 31, 2024

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Problems found in new IRS online 1099 portal

Accounting Today

The Internal Revenue Service has been working to resolve a problem that was preventing businesses and tax professionals from using a new online portal where they could file their 1099 forms for free.

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PwC Admits the Next PCAOB Inspection Report Won’t Be Great

Going Concern

In an audit quality report released last week [ PDF ], the once flawless PwC admits its next PCAOB inspection report will be twice as bad as the last one. That’s not so terrible though, PwC has proven in recent years they are superior to all other auditors when it comes to avoiding deficiencies from the PCAOB — in 2020, PwC had a record-low 1.9% deficiency rate with just one mistake found in 52 audits inspected.

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Reshaping the pyramid

Accounting Today

The accounting profession is in the midst of a vast experiment with a host of new ways to structure how firms are owned and managed.

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HLB International Named Best Cross-Border Collaboration for Tax Solutions Global 2023 by Capital Financial International

Withum

Withum’s global advisory and accounting network, HLB International, has been named the Best Cross-Border Collaboration for Tax Solutions Global 2023 by Capital Financial International (CFI). Pictured: Dave Springsteen, Withum Partner Emeritus, HLB Global Tax, Surabhi Bansal, Shannon Smith, Kimberlee SP Murphy, Partner, Withum International Services Practice Leader, Christian Jahndorf, Nick Farmer.

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Building a Business Case for Finance Automation

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.

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House passes bill expanding Child Tax Credit and business breaks

Accounting Today

The House passed tax extenders legislation reviving a number of tax breaks, including the enhanced Child Tax Credit, the ability to fully deduct research and development expenses in the first year, 100% bonus depreciation, disaster tax relief, and more.

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Corporate Card Spending is Up, But Adoption of Expense Management Software Lags

CPA Practice

A new survey of business financial leaders shows that, while nearly half of respondents (46%) increased corporate card usage over the past year, only 2% have increased adoption of expense management software, creating compliance and visibility challenges for employees and finance teams. Other findings show perennial expense management pain points such as laborious month-end closes, minimal user support and policy confusion reemerging YoY amidst a dynamic work landscape and increase in corporate

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10 IRS Red Flags

Insightful Accountant

Audits are unpredictable, with some being random and others based on income, entity structure, or common errors. To minimize audit risk and save time, handle 10 red flags cautiously.

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The flaw in the partner model: Partners

Accounting Today

The structure of most accounting firms hampers their ability to move quickly in a fast-paced environment and to foster accountability.

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ADP® Assist with Generative AI Features Makes HCM Decisions Easy, Smart and Human

Insightful Accountant

Comprehensive AI solution transforms ADP's vast work data into actionable insights

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IRS collection notices are coming back

Accounting Today

Tax pros and taxpayers should be aware that the IRS is restarting its 'collection notice stream.

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Fall In Love With the Month-End Close

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.

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IRS to offer an Employee Retention Credit Webinar on Feb. 8

Insightful Accountant

As part of an ongoing process to educate and inform people about the Employee Retention Credit (ERC), the Internal Revenue Service will host a free ERC Voluntary Disclosure Program webinar on Thursday, Feb. 8 at 2 p.m. EST.

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The 'Call Your Mom' strategy for CPA firm communication

Accounting Today

Seek feedback from someone outside your professional circle who isn't mired in industry jargon.

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Meet 2023 Top 25 Up-N-Coming ProAdvisor Jennie Morris

Insightful Accountant

We sat down with Jennie to get her thoughts on being a Top 25 Up-N-Coming ProAdvisor, her journey, her path to success, and her hands-on approach to her clients.

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Patriot Software Expands Its Affiliate Marketing Program

Patriot Software

Canton, Ohio Accounting and payroll industry stalwart, Patriot Software, is expanding its affiliate marketing with a national launch of its Affiliate Program on Impact.com. According to Paul Bailey, Patriot Software’s Chief Technology Consultant, “Businesses are blown away by our intuitive software and our markedly different approach to customer support.

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

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.

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Patriot Software Expands Affiliate Marketing Program

CPA Practice

Accounting and payroll technology maker Patriot Software is expanding its affiliate marketing with a national launch of its Affiliate Program on Impact.com. According to Paul Bailey, Patriot Software’s Chief Technology Consultant, “Businesses are blown away by our intuitive software and our markedly different approach to customer support. Our tens of thousands of customers love us.

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Simplified and Automated Cloud-Based Tax Calculations with AvaTax

AccountingDepartment

AvaTax by Avalara is a groundbreaking solution that revolutionizes the way businesses handle tax calculations. This cutting-edge cloud-based software simplifies the complexity of tax calculations, ensuring accuracy and efficiency every step of the way.

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ADP Adds Generative AI Option for HR, Payroll, Analytics

CPA Practice

ADP has launched ADP Assist , a cross-platform solution powered by generative AI (GenAI). ADP Assist enhances HR productivity, aids decision-making with data-driven insights, and streamlines day-to-day tasks for practitioners, managers, employees and executives with simple, human-like conversations. It harnesses the power of ADP’s unparalleled data and expertise along with GenAI to simplify the world of work.

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The firm structures of the future

Accounting Today

A glossary of all the new or newly popular ways accountants are organizing their practices.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

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.

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Clean Vehicle Credit: IRS Energy Credits Portal Open for EV Dealers

Cherry Bekaert

The Internal Revenue Service (IRS) has recently opened the doors to its Energy Credits Online Portal Registration , marking a significant milestone for electric vehicle (EV) dealers across the country. This portal is a critical tool for those looking to capitalize on the Clean Vehicle Credit. Dealers should register as soon as possible to receive advance payments that will offset the amount of tax credits that are applied to customers’ purchase prices.

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Private sector added 107K jobs in January

Accounting Today

Private sector employers added 107,000 jobs in January as annual pay grew 5.2% on a year-over-year basis, payroll giant ADP reported.

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IRS Tax Relief for Taxpayers Impacted by Severe Storms in Rhode Island

Withum

As a result of destruction and damage caused by severe storms, flooding, and tornadoes that impacted parts of Rhode Island beginning on September 10, 2023, the Internal Revenue Service (IRS) has announced through its releases IR-2024-01 (January 26, 2024) and IR-2024-27 (January 30, 2024) that affected taxpayers in designated disaster areas will be provided tax relief.

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Small businesses see wage growth start to stagnate

Accounting Today

Hourly earnings growth for employees is slowing, even as job growth continues, according to a new report from Paychex.

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Cash Flow Secrets Every Upskilled CPA Should Know

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.

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What Is Intacct Marketplace?

GrowthForceBlog

7 min read When selecting an accounting software solution for your business, flexibility, scalability, and the software's ability to meet your business's ever-evolving needs is key. One of the leading commercial accounting software solutions, Sage Intacct®, offers users dynamic features and capabilities within the software and via a vast marketplace of fully integrated applications.

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BooXkeeping works to expand franchises across country

Accounting Today

The Las Vegas-based franchising company that works with other franchises is extending its reach nationwide.

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Avalara Announces Partner Program Transformation

CPA Practice

Avalara, Inc. , a provider of cloud-based tax compliance automation for businesses, has launched its updated Avalara Partner Program to drive partner growth and alleviate the burden of tax compliance on businesses. The company says the launch is the beginning of a multiyear vision for partners to drive sustainable growth and opportunity, make it easier to do business with Avalara, and deliver peace of mind to their customers who are leveraging a leading tax compliance platform.

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Fujitsu promises better quality control after UK post office scandal

Accounting Today

The Tokyo-based technology company is the subject of an inquiry into a glitch in its Horizon accounting software that led to the wrongful accusations of theft, fraud or false accounting of sub-postmasters.

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Profit in the Details: Rethinking Spend for Monumental Impact

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

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Free Webinar: Grow Your Law Firm and Improve Profitability with These 4 Financial Metrics

Anders CPA

Reserve Your Spot Now! Register Now Financial metrics are an important asset for growing your law firm. In this webinar, you will discover how much cash a law firm should have in the bank, what a forecast is and why you need one, how metrics can serve as levers to increase profitability, and how to measure your pipeline. You’ll also learn how to compare your metrics to other firms in the industry.

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Armanino releases SOC 2 exam tool

Accounting Today

Top 25 firm Armanino released Audit Ally, a SOC 2 examination tool.

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Dawn Brolin's Keys to a Successful Work-Life Balance

Canopy Accounting

Dawn Brolin, CEO of Powerful Accounting provides valuable insights into achieving success and work-life balance in the accounting profession. She encourages accountants to prioritize mindset, set boundaries, embrace technology, and cultivate relationships with clients for long-term success.

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M&A watch: NDH and Magone expand

Accounting Today

NDH Advisors merges in Jain & Jain; and Magone & Co. plans to add Wurdemann, Pinto & Co.

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.