Cherry Bekaert
JULY 12, 2024
Contributor: Chris Grimes, Senior Manager, State & Local Tax It’s an exciting time for a technology entrepreneur when their company starts making a profit and grows large enough to catch the eye of a potential buyer. Not only does it show that hard work and dedication are paying off, but being considered for acquisition or investment is a sign of success and can open new opportunities for the company.
MyIRSRelief
JULY 12, 2024
Understanding IRS Letter 725-B: Notice of Appointment to a Field Revenue Officer for Investigation The IRS Letter 725-B, also known as the Notice of Appointment to a Field Revenue Officer (RO) for Investigation, is a formal communication from the Internal Revenue Service (IRS) indicating that a taxpayer’s case has been assigned to a revenue officer for further investigation.
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Accounting Today
JULY 12, 2024
The Financial Accounting Standards Board released a new chapter of its Conceptual Framework on the measurement of items recognized in financial statements, while also drawing that project to a close.
Randal DeHart
JULY 12, 2024
Starting a construction business without a plan is like setting sail without a compass. While you might eventually reach your destination, the journey will likely be longer and more challenging. A well-constructed business plan is essential for guiding your business toward success. Here's why It Clarifies Your Vision A business plan helps you articulate the vision for your enterprise.
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.
Accounting Today
JULY 12, 2024
Plus, Biller Genie launches QuickBooks Desktop integration, PayPal integration; and other accounting technology news.
Patriot Software
JULY 12, 2024
For many businesses, payroll is the largest expense. The cost of an employee can be 32% more than their wages. Plus, you have to pay for the cost of running payroll. But savvy business owners know there are ways to cut back on expenses, including payroll costs.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Cherry Bekaert
JULY 12, 2024
U.S. Real Estate Market Trends The U.S. real estate market has been experiencing a significant increase in the demand for residential real estate due to a growing population of people looking to buy homes or invest in real estate properties. The aftermath of the COVID-19 pandemic normalized remote work and led to underutilized office spaces and high commercial real estate vacancy rates, particularly office spaces, in certain major U.S. markets, according to RCLCO’s Sentiment Survey.
Accounting Today
JULY 12, 2024
The Atlanta-based Top 50 Firm secured funding from Boston-based Charlesbank Capital Partners.
CPA Practice
JULY 12, 2024
The American Institute of CPAs (AICPA) has submitted comments to the Department of the Treasury and the Internal Revenue Service (IRS) on the excise tax on repurchase of corporate stock proposed regulations, which address the application of the new excise tax on repurchases of corporate stock under section 4501. Section 4501(a) was enacted as part of the Inflation Reduction Act of 2022 and provides that a covered corporation is subject to “a tax equal to 1 percent of the fair market value of any
Accounting Today
JULY 12, 2024
Both accounting firms and the businesses they serve will grab onto the automation wave or die.
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.
DMCL
JULY 12, 2024
Mohammad Shahid, Senior Manager, Canadian Tax recently appeared on the Mornings with Simi show on CKNW 980 to discuss the B.C. Luxury Tax and its implications for the average person looking to purchase a vehicle. Tune in to hear his commentary on the tax’s far-reaching impacts and learn about what factors you need to consider when planning your next vehicle purchase.
Canopy Accounting
JULY 12, 2024
In this video, Jason dives into Canopy, a practice management software that will revolutionize your workflow. Here are ten indispensable features that you'll wonder how you ever lived without.
CPA Practice
JULY 12, 2024
In the competitive world of accounting and advisory services, offering Client Accounting Services (CAS) or Client Accounting Advisory Services (CAAS) can set firms apart and strengthen client relationships. Here are some marketing tips for CAS services firms, along with an example. The 5 P’s The key to successfully marketing these services lies in understanding and implementing the 5 Ps of marketing: Product, Price, Promotion, Place, and People.
Insightful Accountant
JULY 12, 2024
For accounting firms to expand their services into Client Advisory Services (CAS) specifically tailored for the agricultural sector. Traditionally, accounting services have focused on tax and compliance, but CAS offers a path to exponential growth.
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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.
Menzies
JULY 12, 2024
Menzies LLP - A leading chartered accountancy firm. Labour committed to a ‘New deal for Working people’ in their manifesto. Their proposals represent a significant shift in UK employment law and are set to enhance workers’ protection while providing the biggest change in workers’ rights for a generation. In this article, we summarise the proposed changes and highlight key priorities for businesses.
CPA Practice
JULY 12, 2024
The IRS on July 11 reminded car dealers and sellers to be aware of evolving phishing and smishing scams that could impact day-to-day operations of the business. Last month, CDK Global, a key supplier of specialized software systems for vehicle sales and service, fell victim to a massive ransomware cyberattack. The programs many car dealers use to manage inventory, chalk up sales, register new vehicles, and perform other essential tasks were abruptly halted.
Cherry Bekaert
JULY 12, 2024
When looking to secure competitive grant funds for a project or program, including New Markets Tax Credits (NMTCs), it is important to understand all that goes into successful grant applications and how to tell your story most effectively. Organizations often struggle in assessing their own capacity, sourcing grant funds, building their project team and understanding the responsibilities associated with new funding sources.
CPA Practice
JULY 12, 2024
Retail sales showed moderate growth in June amid a still-solid economy and near-zero inflation for retail goods, according to the CNBC/NRF Retail Monitor , produced by Affinity Solutions and the National Retail Federation. “Consumers are being thoughtful about their spending, prioritizing non-discretionary purchases as they continue to face high interest rates and lingering inflation,” NRF President and CEO Matthew Shay said.
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
Menzies
JULY 12, 2024
Menzies LLP - A leading chartered accountancy firm. HMRC’s use of nudge letters, or ‘one to many’ in HMRC-speak, has become an increasingly popular tool to target larger groups of taxpayers. This article looks at why HMRC has moved to using this method as its favoured way of encouraging taxpayers to come forward and disclose their irregularities, as well as giving readers advice on appropriate ways to respond.
CPA Practice
JULY 12, 2024
Lacey Pfalz TravelPulse (TNS) Americans left the country more this spring than they did before the pandemic, according to new passenger volume data released by The National Travel and Tourism Office (NTTO). The new data focused on the month of April and found that more than 8 million Americans left in April to travel internationally, an 8% increase from April 2023 and 106.3% higher than in April of 2019, prior to the pandemic.
Going Concern
JULY 12, 2024
Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.
CPA Practice
JULY 12, 2024
By Nathan Garden, The Charlotte Observer (TNS) It says a lot about our politics that very few of our leaders are talking about one of the most important issues. The small businesses that anchor our economy are about to face a devastating tax hike that will hurt workers and weaken communities. As the owner of one of those job creators—a third-generation family-owned manufacturing company in Cuba, Missouri—I’m calling on Washington, D.C., to wake up and protect the tax cut that small businesses de
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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.
CPA Practice
JULY 12, 2024
Alex Brown Stateline.org (TNS) For decades, states have relied on gas taxes to provide much of the money to maintain roads and bridges. But as cars become more fuel efficient, and some Americans switch to electric vehicles, state leaders say the gas tax won’t pay the bills for much longer. At the same time, many cities have seen their streets crowded with delivery trucks from Amazon and other companies, as consumers increasingly opt to have products delivered to their homes.
CPA Practice
JULY 12, 2024
Gillian McGoldrick and Trebor Maitin The Philadelphia Inquirer (TNS) Pennsylvania lawmakers on Thursday approved a $47.6 billion state budget deal after weeks of negotiations, featuring sweeping changes to the higher education landscape and how the state funds its public schools. Pennsylvania increased spending for K-12 public schools by more than $1 billion in the next fiscal year, including several new initiatives to help all of the state’s school districts offer their students an equitable an
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