AccountingDepartment

APRIL 22, 2024

In a dynamic industry where change is the only constant, good cash flow management stands as one of the most critical factors for the success of e-commerce businesses. Navigating the online retail waters is often turbulent, with fast-paced transactions and a myriad of financial nuances that demand efficiency and foresight. Poor cash flow management could capsize even the most promising ventures, while a firm grasp on financial inflows and outflows can propel your e-commerce business forward, ens

E-commerce 76

E-commerce Retail accountant accounted 76

MyIRSRelief

APRIL 22, 2024

Navigating tax issues can be daunting, especially when facing audits, unpaid taxes, or payroll problems. In Corona, CA, part of the Inland Empire, taxpayers and businesses often seek clarity on resolving these issues effectively. This FAQ guide provides insights into common tax problems and solutions available in Corona, CA. 1. What is Audit Representation and How Can It Help Me in Corona, CA?

Tax 130

Tax payroll tax payroll tax return 130

Accounting Today

APRIL 22, 2024

Experts say that busy entrepreneurs often miss incentives and advantages available to them. Financial advisors and tax professionals can give them a nudge.

Tax 124

Tax 124

CPA Practice

APRIL 22, 2024

By Chris Stephenson and Eric Hylton. The race to integrate Artificial Intelligence into the workflow of Certified Public Accountants is no longer a futuristic concept, but a current reality. Large accounting firms have made substantial strides in using AI to augment their services and deliver high quality outcomes. Yet, for many CPA firms, particularly small to mid-sized organizations, the current pace of technological advancement can seem dauting.

Technology 124

Technology cpas cpa firm CPA 124

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.

Finance

Going Concern

APRIL 22, 2024

Ed. note: By “salty” I mean in the experienced sailor/pirate way, not the modern definition of someone who’s just mad because they suck. Industry OG and commentator Gene Marks has written an opinion piece for The Hill about what audits actually are that is less opinion and more brutal fact: Why you should be very skeptical of that auditor’s report.

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audit auditor financial statements Education 119

CPA Practice

APRIL 22, 2024

By Melissa Angell, Inc. (TNS) The IRS is cautioning taxpayers to be aware of its so-called “Dirty Dozen” list. Each year, the IRS puts out a list that compiles prevalent schemes against taxpayers. The list serves as a reminder to remain vigilant about tax scams not only during tax season, but all year long. Taxpayers should take note, given the uptick in problems seen in recent years: The IRS received 294,138 cases of tax-related identity theft during fiscal year 2023, up from the 92,631 cases s

Tax 121

Tax tax return online accounting payroll 121

CPA Practice

APRIL 22, 2024

The Illinois CPA Society (ICPAS)—one of the largest state societies serving the certified public accountant (CPA) community—has announced the honorees of its annual Outstanding Leadership Awards program, which celebrates distinguished leaders within the CPA profession through a variety of prestigious awards. “It’s an honor to formally recognize those who have gone above and beyond in their service to both our organization and the accounting profession,” says Geoffrey Brown, CAE, ICPAS president

Illinois 116

Illinois CPA Indiana audit 116

Cherry Bekaert

APRIL 22, 2024

New OMB Guidance for Federal Assistance (formerly known as the OMB Guidance for Grants and Agreements) was released on April 12, 2024. Still in pre-publication form, however, the effective date of the new rule is expected to take effect on October 1, 2024. As part of the process, OMB welcomed more than 829 public comments from a various stakeholders, including States, local governments, Indian Tribes, labor organizations, industry associations, nonprofit organizations, for-profit organizations,

Government 105

Government audit 105

CPA Practice

APRIL 22, 2024

By Leada Gore, al.com (TNS) Most people would snap up a job with pay of $100,000 a year. But bringing that amount home will require good deal more income, according to a recent analysis. GoBankingRates.com looked at how much you need to earn in each state to actually bring home $100,000 a year. The analysis accounts for average federal income taxes and withholdings for Social Security and Medicare, as well as state and local taxes.

South Dakota 116

South Dakota Alabama New Hampshire Wyoming 116

Cherry Bekaert

APRIL 22, 2024

Contributors: Nick Cousino , Senior Manager | State Credits & Incentives Advisory What Are State Credits and Incentives? Throughout the U.S., individual states offer unique tax credits and negotiated incentives to attract or retain business operations. Currently, there are more than 2,400 state and local incentive programs available. There are a variety of ways these tax credits and incentives can be utilized to benefit companies: Tax credits for dollar-for-dollar reductions to a company’s o

South Carolina 105

South Carolina North Carolina Mississippi Georgia 105

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Technology

CPA Practice

APRIL 22, 2024

By Paul Liotta, Staten Island Advance, N.Y. (TNS) The Social Security Administration typically releases annual cost-of-living adjustments (COLA) in mid-October, but one organization says it will likely be lower in 2025 than years past. The Senior Citizens League, a nonpartisan senior citizens group, released a 2025 COLA estimate of 2.6% April 10. If the estimate holds, that number was lower than the two previous years when the Social Security COLA brought the total benefit up 8.7% in 2023 and 3.

Government 111

Government 111

Anders CPA

APRIL 22, 2024

Thursday, June 27 The post Counting on Your Future: Exploring the World of Accounting and Advisory appeared first on Anders CPA.

Account 98

Account accounted accountant CPA 98

Cherry Bekaert

APRIL 22, 2024

What Are State Credits and Incentives? State governments offer state credits and incentive programs to advance economic growth and investments in their state. These tax credits allow businesses to lessen their tax obligations, improve cash flow, and make investments for growth to foster long-term success. Missed Opportunities Taking advantage of state tax credits and incentives is an opportunity many businesses miss due to the lack of knowledge about what makes an organization eligible to receiv

Real Estate 98

Real Estate Tax Maine audit 98

CPA Practice

APRIL 22, 2024

The AICPA & CIMA have released their “Redefining Finance for a Sustainable World ” white paper, the latest iteration of their Future of Finance research program. Originally launched in 2019 as the Re-inventing finance for a digital world white paper, this extensive global research program explores the future of the accounting and finance profession in the age of disruption and its broader ecosystem, defining essential skills, competencies, and knowledge needed to succeed in an ever-changing

Finance 84

Finance accounting and finance Technology CPA 84

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.

payroll

Accounting Today

APRIL 22, 2024

Deloitte auditors have been turning their attention to climate risks affecting clients who need to deal with a growing array of regulations and laws around the world as the pace of climate change accelerates.

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audit auditor accountant accounted 81

CPA Practice

APRIL 22, 2024

The 10 accounting firms that had the most public company audit clients in 2023 are the same 10 firms atop the table in auditor market share so far in 2024, with EY leading the way as of Jan. 30. According to a recent study from Ideagen Audit Analytics , EY audits 971 public companies registered with the Securities and Exchange Commission (SEC), with a total market share of 14.7%.

audit 69

audit auditor accounting firms accounted 69

Accounting Today

APRIL 22, 2024

Tax season is the best time of the year for memorable on-the-job experiences.

Account 80

Account accounted accountant Tax 80

VJM Global

APRIL 22, 2024

Held by Hon’ble High Court of Telangana In the case of M/s Rays Power Infra Private Limited Vs Superintendent of Central Tax (Writ Petition No. 298 of 2024) The petitioner is engaged in the business of generation of electricity through solar plants. The GST returns filed by the petitioner for the period of July, 2017 to March, 2019 were subject to audit.

Tax 52

Tax audit Legal Account 52

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.

Finance

Accounting Today

APRIL 22, 2024

Consultant Geraldine Carter explains why it's not the hours you work that matter, but what you and your clients get out of them.

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VJM Global

APRIL 22, 2024

Held by Hon’ble High Court of Telangana In the case of M/s Rays Power Infra Private Limited Vs Superintendent of Central Tax (Writ Petition No. 298 of 2024) The petitioner is engaged in the business of generation of electricity through solar plants. The GST returns filed by the petitioner for the period of July, 2017 to March, 2019 were subject to audit.

Tax 52

Tax audit Legal Account 52

Accounting Today

APRIL 22, 2024

BEPS Pillar Two will affect a significant number of companies by establishing an effective global minimum tax rate of 15%.

Tax 58

Tax corporation tax 58

Insightful Accountant

APRIL 22, 2024

The IRS released its 2024 "Dirty Dozen" list of top tax scams, cautioning taxpayers and preparers. Clients may face ERTC credit claim scams. Stay alert to protect against fraudulent claims.

Tax 52

Tax 52

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.

CPA

Withum

APRIL 22, 2024

In December 2023, New York Governor Kathy Hochul announced proposed cybersecurity regulations for New York hospitals. These new regulations are extremely comprehensive and exceed the security requirements currently found in other Federal and state laws. Once these proposed regulations are published in final form, it is anticipated that hospitals will have only one year to make wholesale changes to their IT systems.

Hospitality 52

Hospitality Healthcare New York Legal 52

CPA Practice

APRIL 22, 2024

Tax Blotter 042224 Under the trust fund recovery penalty (TFRP), a “responsible person” may be held personally liable for the full amount of an employer’s unpaid employment taxes. This issue is often contested in the courts. Not my job. The job of a manager in an auto repair shop mainly consisted of running errands for the owner and doing other odds and ends.

payroll 52

payroll payroll tax Tax Pennsylvania 52

Withum

APRIL 22, 2024

In the Fall of 2023, the Consumer Financial Protection Bureau (“CFPB”) proposed a new rule related to Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protect Act (“Dodd-Frank Act”). As the comment period on the proposal concluded at the turn of the new year, we felt it was the right time to re-visit this proposal and how it impacts consumers, businesses and the FinTech industry overall.

Legal 52

Legal CPA accountant accounted 52

CPA Practice

APRIL 22, 2024

As summer approaches, it’s time to adjust your marketing strategies to not only remain competitive but also to capitalize on the unique opportunities that the season offers. The slower pace of summer offers a prime opportunity to engage with current clients in more relaxed settings and attract new clients who are preparing for the end-of-year financial rush. 5 Key Marketing Initiatives Here are five marketing initiatives that can help your firm stand out during the summer months. 1.

accounting firms 52

accounting firms Account accounted accountant 52

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

Spend Management

Anders CPA

APRIL 22, 2024

As a service-based profession, law firms have to keep a careful eye on their production metrics: That means understanding how busy their people are but also how efficient. Under the umbrella of production metrics, we have several Key Performance Indicators that partners can use to gauge the success of their firm at any point in time. But we refer to them as ‘levers,’ because we want to empower firm owners to think about the ways they can ‘pull’ these non-financial metrics to boost their profitab

Non-Profits 52

Non-Profits Legal Maine CPA 52

Dent Moses

APRIL 22, 2024

We’re past the April 15th deadline, which means many of you just paid balances due and first-quarter estimates. If you are still writing checks to make tax payments, there is a much better (and safer) alternative. Both the IRS and the State of Alabama have excellent platforms for making payments electronically via bank draft. A process to verify your identity requires access to a previous tax return.

Alabama 40

Alabama Tax tax return accounted 40

Going Concern

APRIL 22, 2024

Hey. I trust everyone had a nice weekend. I shall dispense with the filler small talk and get right to the news. Sunday Times did a whole big piece on how EY’s failed break-up caused a year of resentment : After five tumultuous years as the global head of EY, Carmine Di Sibio is finally having some fun. Last week, the retiring Italian-born American jetted off to the firm’s towering Tokyo offices as part of his farewell tour.

auditor 104

auditor Account accounted accountant 104