ThomsonReuters
OCTOBER 24, 2023
Jump to: Automation, AI Technology: A Time and Resource Saver Outsourcing: Scale your business and reduce your costs A flexible work model: Expand your talent pool and gain a competitive edge How to handle the shortage of staff in your accounting department Recent trends have only amplified this challenge. More tax professionals are exiting the profession than are entering it.
RogerRossmeisl
OCTOBER 24, 2023
If you have family members with disabilities, there may be a tax-advantaged way to save for their needs — without having them lose eligibility for the government benefits to which they’re entitled. It can be done though an Achieving a Better Life Experience (ABLE) account, which is a tax-free account that can be used for disability-related expenses.
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TaxConnex
OCTOBER 24, 2023
“Scary” has five letters. Know what word in sales tax also has five letters? “Audit.” Few issues in the area of tax are more terrifying than this kind of exam from a tax authority. Our third annual survey of financial professionals showed that although most companies (67%) reported that state sales tax audits have remained at the same level over the past two years, almost one in four respondents (23%) said they expect such audits to increase in coming months.
Acterys
OCTOBER 24, 2023
Organizations rely on robust performance management processes to drive informed decision-making. While Microsoft Power BI’s native data entry option is useful for simple tasks, it falls short with complex data models and planning requirements. This limitation creates challenges for businesses in the Power BI ecosystem, but fortunately, they can leverage additional Power BI write-back and planning capabilities.
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.
CPA Practice
OCTOBER 24, 2023
On your mark, get set, go! The 2024 preparer tax identification number (PTIN) renewal period for the nation’s nearly 800,000 active federal tax return preparers is now underway. All current PTINs expire on Dec. 31, 2023. Anyone paid to prepare or help prepare any federal return or claim for refund must have a valid PTIN from the IRS, which they must use as the identifying number on any returns prepared.
Accounting Today
OCTOBER 24, 2023
Despite widespread reports of declines in accounting students, Purdue is defying the trend and seeing enrollment growing dramatically.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Accounting Today
OCTOBER 24, 2023
The late actor's estate fell short in a five-year quest involving the distribution of a hedge fund position when his financial advisor left UBS for Merrill Lynch.
Anders CPA
OCTOBER 24, 2023
Startups saw a surge in seed round funding in the aftermath of the COVID-19 pandemic throughout 2021 and 2022, but accessing Series A funding rounds has proven more difficult than ever. Investor priorities have shifted and placed a new focus on profitability rather than growth. Tax partner and leader of the firm’s startup practice Dave Finklang, CPA/CGMA, MBA , examined the phenomenon in his recent article for the St.
Accounting Today
OCTOBER 24, 2023
These services can provide organizations with insight, guidance and expertise to support in-house teams or serve as a fully outsourced team.
CPA Practice
OCTOBER 24, 2023
For almost as long as commerce has existed, small business owners have struggled with managing their finances and taxes, while at the same time running the operational side of their businesses. In the U.S., many of these entrepreneurs have long relied on the services of tax professionals or CPAs for year-end compliance needs, and to retroactively compile, reconcile and correct their clients’ books and produce financial reporting.
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.
Accounting Today
OCTOBER 24, 2023
Most new claimants don't qualify for the Employee Retention Credit, experts say — but that hasn't stopped facilitators from promoting it.
Xero
OCTOBER 24, 2023
This guest blog was written by the team at ecommerce accounting integration, Amaka. Cyber Monday was originally an opportunity for ecommerce businesses to dish out huge promotions after Thanksgiving in the United States, but it’s now become a phenomenon around the world. In 2022, Cyber Monday brought in a total of $ 11.3 billion USD in the United States alone, representing one of the biggest online shopping days of the year.
Accounting Today
OCTOBER 24, 2023
The service began allowing nearly 800,000 tax preparers to renew their Preparer Tax Identification Numbers for next year.
Insightful Accountant
OCTOBER 24, 2023
The Bonadio Group's Karen Webber breaks down the weak internal controls that could put your client at risk of fraud—and the warning signs you need to watch out for.
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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.
KROST
OCTOBER 24, 2023
Philanthropy is generosity in all forms and is often defined as the act of giving to better the lives of others. Monetary donations go a long way to fund projects that provide resources to those in need. According to Giving USA, Americans donated more than $1 billion a day to various charities in 2022, resulting Read the full article. The post Utilizing Charitable Remainder Trusts to Meet Income & Philanthropic Goals appeared first on KROST.
AccountingDepartment
OCTOBER 24, 2023
Managing the financial aspects of a business is a critical task that demands accuracy, expertise, and time. As your business grows, so does the complexity of your financial transactions, leaving you with less time to focus on core operations.
Accounting Today
OCTOBER 24, 2023
Commissioner Werfel encouraged Congress to keep the money coming.
GrowthForceBlog
OCTOBER 24, 2023
9 min read Financial reports are necessary and legally required of businesses, so everyone uses them. Unfortunately, many business leaders choose not to generate management reports, mistakenly believing that they are irrelevant to small and medium-sized enterprises (SMEs).
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
Insightful Accountant
OCTOBER 24, 2023
Mark down Oct. 8, at 2 p.m. (EST) as the next 'QB Talks' with Kristen Nies Ciraldo and Kelly Gonsalves, aka Kelly G.
Mark Lee
OCTOBER 24, 2023
Whether or not you use timesheets or bill clients by reference to the hours that you (and your team, if any) spend on clients’ affairs, you probably have an hourly rate in mind. Don’t you? Conversations with the accountants who are or have been my clients reveal a wide range of such rates. And some even have different rates in mind dependent on the type of work they are doing for clients.
Accounting Today
OCTOBER 24, 2023
The board imposed a $175,000 fine on Smythe LLP, a Vancouver-based firm, for violating its rules and quality control standards on four audits.
Going Concern
OCTOBER 24, 2023
Sometimes people ask “why do you write about things happening in Australia on an American website?” Tempted as we are to quip back “because just how much American accounting news do you think there is?” the more accurate answer is because of things like this. We aren’t so different really if you ignore their culinary quirks and backwards seasons.
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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.
Withum
OCTOBER 24, 2023
For many nonprofits, adhering to change can feel like you are attempting to cross a river on lily pads. It is not stable and it feels like there is a high likelihood of failure. Learn why embracing innovation, strategic technology investments and modern payment processors can help your nonprofit stay in front of donors. The Why? For many not-for-profits, the cost-benefit of implementing change has been the focal point for many of today’s decisions at the board level.
CPA Practice
OCTOBER 24, 2023
A new report from the staff of the Public Company Accounting Oversight Board (PCAOB) reveals that 42% of firms the PCAOB inspected in 2022 had a quality control criticism related to engagement quality reviews (EQRs), up from 37% in 2020. The staff report, “ Inspection Observations Related to Engagement Quality Reviews(PDF) ,” focuses on the PCAOB-mandated EQR process, in which a reviewer who is not part of the engagement team evaluates significant judgments made by the audit engagement team.
Menzies
OCTOBER 24, 2023
Menzies LLP - A leading chartered accountancy firm. An Employee Ownership Trust (EOT) is an ownership structure that enables employees to indirectly take on a ‘significant and meaningful’ stake in their employing company. Doing so provides the outgoing majority shareholder(s) with an effective and efficient means to dispose of their shares, as well as a substantial tax advantage compared with other methods of disposal.
CPA Practice
OCTOBER 24, 2023
On Nov. 1, the team from San Antonio-based accounting firm Fisher, Herbst & Kemble P.C. will officially join top 40 firm Whitley Penn. Fort Worth-based Whitley Penn is acquiring FHK, a long-established CPA firm that provides audit, tax, and consulting services to clients, primarily financial institutions, construction companies, and retailers. Larry Autrey “We are thrilled to have the FHK team join Whitley Penn,” Larry Autrey, managing partner and CEO of Whitley Penn, said in a press release
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.
Withum
OCTOBER 24, 2023
Results from Withum’s 2023 Law Firm Leadership Survey What can law firm leaders do to ensure their firms thrive? In response to our flash survey, we received feedback from Managing Partners, Firm Chairs and C-suite executives from law firms around the country regarding their most pressing issues. Download Report Download our 2023 Law Firm Leadership Annual Trend Report for insights on: Firm strategy in a shifting marketplace Opportunities for growth in a down market Financial metrics Leadi
Dent Moses
OCTOBER 24, 2023
Special tax law provisions apply to certain children with unearned income. Generally, unearned is interest, dividends, capital gains, custodial account income and taxable income produced by scholarships. These provisions do not apply to earned income – like W-2 income from a summer job though they may require a return filing. Who Qualifies as a Kiddie The Kiddie Tax rules were established to discourage parents from shifting income to dependent children.
CPA Practice
OCTOBER 24, 2023
Deloitte’s lead in the global Big Four firm revenue race has widened after PwC announced today that its revenue for fiscal year 2023 grew to $53.1 billion for the year ending June 30, an increase of 5.6% in U.S. dollars and 9.9% in local currency terms over last year’s $50.3 billion. Deloitte, which has been the largest of the Big Four firms in terms of revenue since 2016, had a $9 billion lead over second place PwC in 2022 but increased its global revenue to a whopping $64.9 billion in 2023 , s
Inform Accounting
OCTOBER 24, 2023
Private residence relief means that you do not have to pay capital gains tax on any gain that you make when your sell your home to the extent that the gain relates to the period that you lived in the property as your only or main residence or the last nine months of ownership (36 months if you are disabled or sell your home and go into care).
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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.
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