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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
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?
Experts say that busy entrepreneurs often miss incentives and advantages available to them. Financial advisors and tax professionals can give them a nudge.
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.
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
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.
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
Intuit will unpack the latest updates to its QuickBooks Live strategy to prioritize its assisted, do-it-with-me service, taking place on Wednesday, April 24th.
Intuit will unpack the latest updates to its QuickBooks Live strategy to prioritize its assisted, do-it-with-me service, taking place on Wednesday, April 24th.
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
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,
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.
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
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
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.
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
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
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
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.
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%.
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.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
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.
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.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
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.
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.
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.
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.
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
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
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.
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.
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