Mon.Sep 16, 2024

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Gusto Introduces ‘Gus’ AI Assistant For Small Businesses

CPA Practice

Payroll solutions provider Gusto has announced a new artificial intelligence-powered assistant called “Gus,” aimed at helping small business owners save time, get personalized insights, and make smarter decisions about their businesses. Gus can provide business owners with quick answers to their most frequently asked questions, such as their compliance requirements or what they need to do to file their taxes.

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Xero to acquire Syft to enhance reporting and insights capability

Xero

We know how important it is for small businesses to have access to powerful insights to help them run their business better, no matter the economic environment they’re facing. To accelerate our mission to provide powerful insights, we are thrilled to share that Xero is acquiring Syft, a leading global cloud-based reporting, insights and analytics platform for small businesses, accountants and bookkeepers.

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Trending Sources

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Standard vs. itemized: Who deducts what?

Accounting Today

Taxpayers earning more are more likely to choose to itemize their deductions, while taxpayers earning less tend to favor the standard deduction.

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Federal Reserve Could Cut Interest Rates This Week

CPA Practice

Michael E. Kanell The Atlanta Journal-Constitution (TNS) Will they or won’t they? The interest rate-setting committee of the Federal Reserve will meet starting Tuesday to discuss the economy and a potential cut to the central bank’s benchmark rate — a decision that will affect the pricing of home, auto and business loans, credit card rates, the rates for savers and so on.

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If It Ain't Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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TIGTA faults IRS on data security, cloud security

Accounting Today

The Treasury Inspector General for Tax Administration, in two reports, critiqued the IRS on cybersecurity for both its data warehouse and its cloud infrastructure.

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More Trending

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Latest update of CCH Axcess Audit makes heavy use of integrations

Accounting Today

Wolters Kluwer announced major enhancements to CCH Axcess Audit, which works with numerous other modules in the suite to produce more detailed insights and workflow integration.

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Monday Morning Accounting News Brief: What Could Go Wrong Giving Nuke Power to Deloitte; KPMG SF is Moving | 9.16.24

Going Concern

Monday already? Guess we should see what’s going on in the world. Can someone help me come up with a Vault-Tec joke for this story? Because I know it’s right there. "As it stands today, Deloitte is not known as a shipbuilder, nor is it clear it could meaningfully contribute to the construction of submarines." [link] — Going Concern (@going_concern) September 14, 2024 Speaking of Deloitte, the UK business is finally entering the modern age and extending equal family leav

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IRS Issues Proposed Regs on Tribal General Welfare Benefits

CPA Practice

The Department of the Treasury and the Internal Revenue Service have issued proposed regulations PDF for Tribal General Welfare Benefits. Section 139E of the Internal Revenue Code was enacted by the Tribal General Welfare Exclusion Act of 2014 and excludes from gross income the value of any Tribal General Welfare Benefit. As described in the Consultation and Federal Feedback summary PDF , the proposed regulations are the result of long-term efforts by Treasury, IRS, the Treasury Tribal Advisory

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KNAV takes on investment from India

Accounting Today

In the latest example of accounting firms taking on outside investments, the internationally focused firm has sold a minority stake to an Indian billionaire.

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Business Travel Expense Strategies for Everybody

Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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Report Shows How Finance Teams are Handling AI, Skill Gaps, Data Integration and ESG

CPA Practice

insightsoftware (lowercase intentional), a provider of solutions for CFOs, has released its 2024 Finance Team Trends Report. The report analyzes data integration challenges, the rise of artificial intelligence (AI), essential shifts in cloud computing, and the ongoing impact of staffing and skills challenges across the finance and accounting sectors.

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Figuring out alternative investments

Accounting Today

John Napolitano of Napier Financial takes a long look at the host of unusual investment opportunities available to your wealthier clients.

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Need an eCommerce Connector? Attend today's webinar.

Insightful Accountant

Murph will host Dawn Brolin, Kelly Gonsalves, and Jeff Siegel to review the Top 100 ProAdvisors' Top 10 most popular eCommerce Connector Apps today, September 17 at 2 PM Eastern.

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3 client scenarios that highlight tax advantages of donor-advised funds

Accounting Today

The accounts are expected to grow by another trillion dollars over the next decade because of their tax and flexibility advantages, Daffy CEO Adam Nash said.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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International ProAdvisors Award Applications Remain Open

Insightful Accountant

You still have plenty of time to apply for the International ProAdvisor Awards, but why wait. you can start your application and come and go as you complete new training, earn certifications and use/learn new Apps.

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Review of Supervizor – The Accounting Technology Lab Podcast – Sept 2024

CPA Practice

Hosts Randy Johnston and Brian Tankersley, CPA, review Supervizor , a continuous quality assurance system that helps accounting firm’s error-proof their client’s bookkeeping and curb fraud. Use the video player below to watch, or the podcast player below to listen to the podcast. Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.

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Tax Changes Deferred to Lame Duck

Insightful Accountant

As Congress reconvenes this month, tax practitioners find themselves navigating an uncertain legislative landscape with the looming threat of a government shutdown and its potential impact on year-end tax legislation.

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PwC U.K.’s Plan to Track Employees’ Work Location Gets Questioned

CPA Practice

Many professionals across various industries have gone to sites like LinkedIn and Reddit over the past week or so to discuss—and to criticize, by some—a recent plan by PwC to monitor where its 26,000 employees in the United Kingdom do their work from starting in January, as the Big Four accounting firm tightens the screws on its hybrid work policy. This move reflects a broader trend of employers rolling back hybrid working arrangements that became popular during the COVID-19 pandemic.

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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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The Value of Meeting with Your CPA Regularly

LSLCPAs

As a business owner, your primary focus is on growing and managing your business. However, while navigating the financial landscape can be complex and time-consuming, prioritizing regular meetings with your Certified Public Accountant (CPA) is crucial to your business’s success. So you don’t get overwhelmed, remember that you don’t have to cover every item on.

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2023 Plan Year Filing Reminders for Employee Benefit Plans

Withum

As a plan sponsor, staying informed about the latest regulations and industry trends is crucial to the success of your employee benefit plan as we navigate through employee benefit plan filing season. Adhering to regulatory requirements and ensuring compliance to avoid potential penalties are priorities for plan sponsors with employee benefit plan audits.

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Wolters Kluwer Enhances CCH Axcess Audit Solution

CPA Practice

Wolters Kluwer Tax & Accounting unveiled on Sept. 16 a huge expansion of its CCH Axcess Audit solution, which integrates with other key CCH Axcess modules for faster, more precise engagements across firms of all sizes. According to Wolters Kluwer, the new technological advancements reduce manual data entry, minimize errors, and sync data in real time, adding a layer of agility and cohesion to every project.

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Autumn Budget Hub 2024: Retail Wish List

Menzies

Menzies LLP - A leading chartered accountancy firm. In anticipation of this year’s Autumn Budget, Menzies’ Retail Sector Team have compiled a Wishlist for the sector, covering key areas such as VAT, business rates, the national living wage, and the employer national insurance allowance, highlighting the measures businesses should focus on.

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A Quick Historical Bookkeeping Cleanup

Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

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Divorce Financials: Importance of a Lifestyle Analysis

FraudFiles

In the early stages of divorce, clients are required to complete financial affidavits, financial declarations, or other similarly titled disclosures. The importance of an accurate disclosure of assets, liabilities, and income is obvious. Yet many clients are unable to accurately prepare this financial information. Particularly in high net worth divorces, it may be difficult for [.

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Annual Planning for Transportation and Logistics Businesses: Prepare to Thrive in 2025

Anders CPA

It’s that time of year, when we start to get our financial ducks in a row. The end of Q3 is the perfect time to look back at the past year and ahead to the future. This period provides a critical opportunity to assess performance, identify areas for improvement, and set strategic goals. The transportation industry has endured a lot in these past few years, but a wise colleague of mine once said, “Prepare to endure, endure.

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Art of Accounting: Clients' changing needs

Accounting Today

Find out what the client needs and then figure out how to fill that need.

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Deloitte’s Bringing a Small D to Revenue Season This Year

Going Concern

Deloitte has reported its global revenue numbers and while it’s another record-smasher for the Big D, it’s also got to be a bit disappointing for the firm that enjoys self-jerking it to their greatness more than any other. Growth is in the low single digits for the first time since 2020 when they clocked in at 3.9% growth (in US currency).

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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PwC probe shifts to Hong Kong after record China fine

Accounting Today

Hong Kong's Accounting and Financial Reporting Council said its review of PwC's local practice, which is separate from China's probe, is still "in progress.

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Wolters Kluwer Analyzes Tax Policies of Harris and Trump

CPA Practice

A tax briefing on the proposed tax policies of the major presidential candidates, Vice President Kamala Harris and former President Donald Trump, was recently released by Wolters Kluwer Tax and Accounting. The analysis aims to clearly distinguish their tax priorities and propose how their policies could potentially affect individual taxpayers, businesses, and the wider economy, Wolters Kluwer said.

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Francine victims in Louisiana get tax relief

Accounting Today

The IRS has postponed payment and filing deadlines for those affected by the storm.