Tue.Aug 27, 2024

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1 in 3 Borrowers Have Slowed Student Loan Repayments, Survey Finds

CPA Practice

By Joe Yerardi | NerdWallet Paradise Post, Paradise, Calif. (TNS) About 43 million Americans hold federal student loan debt and, for some, paying off that debt can be a burden. Many borrowers have access to programs that can pause or reduce their payments, but a new survey finds some borrowers may be forgoing the proper channels and stopping repayment entirely in hopes of student loan forgiveness.

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Financial Reporting for Board Meetings for Early-Stage Startups – Part 2, Reporting Examples

BurklandAssociates

Tips and examples to help you present your startup's financial data to your board of directors with maximum efficiency and impact. The post Financial Reporting for Board Meetings for Early-Stage Startups – Part 2, Reporting Examples appeared first on Burkland.

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Are Your Clients Compliant with Tangible Personal Property Taxes?

CPA Practice

By Carl Hoemke. Almost every state has rules about the taxability of goods and services, and the complexity of those rules affects a lot of business owners and CFOs daily. But a tax on tangible personal property can be just as confusing. Certain times of year, when those taxes may be due, you may ask yourself: What counts as real property vs. personal property?

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Dozens of Taxy Groups Join New Coalition to Stop Scammers and TikTok Tax Advice

Going Concern

Was “Coalition Against Scam and Scheme Threats” the best they could come up with for an official group against tax scams? America’s smartest tax-minded brains dug as deep as they could and that’s what they landed on? Well anyway, the CASST is here and as its name implies, it’s a group effort representing the Internal Revenue Service, state tax agencies, and all sorts of entities across the tax industry that’s meant to “combat the growth of scams and sche

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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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Small Businesses and Consumers Are in Conflict on Payment Preferences

CPA Practice

New research by global small business platform Xero has uncovered a disconnect in payment expectations between US small businesses and consumers when it comes to the ways consumers want to pay and how small businesses want to be paid. Launched at Xerocon Nashville , is a Xero report that delves into changing payment habits among consumers and how small businesses are adapting.

More Trending

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HBK CPAs, HBKS Wealth Advisors to Have Their Own Leaders

CPA Practice

The executive committee of HBK voted to split leadership roles of its two entities, HBK CPAs & Consultants and HBKS Wealth Advisors, giving each its own top executive, the firm said on Aug. 26. Christopher Allegretti, HBK’s CEO and managing principal since 2004, will remain in those roles for HBKS Wealth Advisors, while Thomas Angelo will oversee HBK CPAs & Consultants as its CEO and managing principal.

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Xero Price Increasing As Of October 27, 2024

Insightful Accountant

Starting October 27, 2024, the price of Xero's most popular plans in the United States will increase. The Early, Growing, and Established plans will see price changes ranging from $2 to $5 dollars per month.

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CohnReznick Teams Up with Boys and Girls Clubs of Greater Washington for Professional Development

CPA Practice

The Boys & Girls Clubs of Greater Washington (BGCGW) and CohnReznick will be working together to provide hands-on professional development learning experiences to BGCGW teens and young adults as they enter the workforce and make crucial decisions about career paths. The initiative, which includes a $100,000 donation from CohnReznick and the CohnReznick Foundation, will include four activations focusing on holistic support in the following key areas: professional development, community servic

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PE-Backed Sikich Buys an Accounting Firm, Subtly Smack Talks Those “Other” PE-Backed Firms

Going Concern

h/t CPA_Dad for tweeting this in our direction Just a few months after #28 IPA Top 100 firm Sikich announced a $250 million capital injection from Bain Capital , the firm has grabbed the basically unknown Saggar & Rosenberg of Rockville, Maryland. Well, Sikich Co-Managing Principal Antony Nettleton knows who they are. “Over the last 25 years Sandy Saggar has built an impressive company that dovetails nicely with our own offerings and specialized services to non-profits and the government sec

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The Financial Leader's 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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Why Bill Belichick Thinks ‘Taxachusetts’ Deters Free Agents From Patriots

CPA Practice

By Lauren Campbell masslive.com (TNS) The New England Patriots are in the midst of a rebuild that has made it hard to draw free agents to come play for the six-time Super Bowl champions. A team that once had Bill Belichick and Tom Brady now finds itself with a new coach, new quarterback room, new receivers and offensive line that has struggled mightily last year and this preseason.

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Meet Nova Aurora, a CPA from 2034

Accounting Today

The accountant of the future has come back to share some thoughts on how the profession will improve.

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Sikich Acquires Saggar & Rosenberg in Maryland

CPA Practice

Top 30 accounting firm Sikich on Tuesday said it’s acquiring Saggar & Rosenberg, a full-service CPA firm based in Rockville, MD. Financial terms of the deal weren’t disclosed. Saggar & Rosenberg has six partners, including Managing Partner Sandy Saggar, according to its website, and its size is between 51 and 200 employees, according to the firm’s LinkedIn page.

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Maine joins IRS Direct File

Accounting Today

The Treasury Department and the Internal Revenue Service said Tuesday that Maine will be the latest state to join the IRS Direct File free tax prep system for filing season 2025.

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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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Taxbit Rolls Out 1099-DA Support

CPA Practice

Digital asset tax and accounting platform Taxbit has introduced comprehensive support for the 1099-DA form, facilitating compliance with the newly released U.S. Treasury Department and IRS digital asset broker regulations that are slated to go into effect for the 2025 tax year. Form 1099-DA , Digital Asset Proceeds From Broker Transactions , provides guidance on the data elements brokers must submit to the IRS, aligning with the finalized regulations for custodial digital asset brokers, and en

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SEC charges brothers with $60M crypto Ponzi scheme

Accounting Today

The SEC obtained emergency asset freezes against Jonathan Adam and Tanner Adam, and their respective entities, to halt an alleged $60 million cryptocurrency Ponzi scheme.

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Top Reasons to Hire a Virtual CIO for Strategic Technology Planning

Anders CPA

Remaining competitive in today’s business world means anticipating and embracing technological advances. A Chief Information Officer (CIO) can help companies design and implement strategic technology planning. Hiring a full-time CIO can be cost-prohibitive for many businesses, especially small to mid-sized enterprises. Enter the virtual CIO – a solution that offers businesses the strategic IT leadership and advisory they need without the overhead of a full-time executive.

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Taxbit now supports 1099-DA

Accounting Today

Taxbit announced it now offers comprehensive support for the new Form 1099-DA, which pertains to digital assets.

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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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Tax Straddling and the Installment Method for a Failed Like-Kind Exchange

Cherry Bekaert

Since 1921, sellers of real estate have been able to defer taxable gains under Internal Revenue Code (IRC) Section 1031, commonly known as a like-kind exchange. When a taxpayer engages in a like-kind exchange of property, which is a tax-deferred transaction in which one investment property is exchanged for another of the same type, they may defer recognition of any gain or loss realized on the exchange.

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IMA adds corporate membership program

Accounting Today

The Institute of Management Accountants debuted a corporate membership program Tuesday that provides training and resources for teams in organizations.

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September QB Talks - Future of QuickBooks Desktop

Insightful Accountant

Murph looks at the future of QuickBooks Desktop and Desktop alternatives from Intuit and Non-Intuit sources during this informative webinar being conducted this month as part of Insightful Accountant's Future Forward Event.

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Navy shipbuilder settles fraud with SEC

Accounting Today

Shipbuilder Austal USA and its parent company agreed to a $24 million civil penalty to settle fraud charges by the Securities and Exchange Commission.

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Digital Transformation in Accounting: Why It’s Essential for Modern Firms

Accounting firms must embrace digital transformation to stay competitive. From improving efficiency and client experience to ensuring data security, digital tools offer the edge needed in a digital-first world. Discover how Fincent can streamline your transition. The accounting industry faces a digital revolution. As technology reshapes business, firms must adapt or risk obsolescence.

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Warehouse Wednesday: Acumatica In-depth Part 4

Insightful Accountant

This is a prologue to Murph's next part of his in-depth series on Acumatica. a summary of Acumatica ERP's Field Service Management functionality for service industries like HVAC, Plumbers, Oil-field Service Crews, Roadside Assistance, etc.

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Put the Pieces Together for Your Auditor: A Guide to Bank Reconciliations

LSLCPAs

LSL Webinar “Back to Basics | Put the Pieces Together: A Guide to Bank Reconciliations” presented by Louis Li and Riley Greenlee, CPA outlined the fundamentals of performing accurate and efficient bank reconciliations to streamline the process for local government finance departments. In case you missed it – this article will help you prepare for.

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Crowe Introduces New Solution That Automates Financial Spreading Process

CPA Practice

Top 15 accounting firm Crowe has launched Crowe CX for Financial Spreading, a solution that streamlines the entire financial spreading process. Crowe CX for Financial Spreading utilizes patented technology that transforms financial statements and tax returns into machine-readable files, which are automatically imported into the solution after borrowers upload their statements into the accompanying portal.

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Put the Pieces Together: Step-by-step to Bank Reconciliations

LSLCPAs

LSL Webinar “Back to Basics | Put the Pieces Together: A Guide to Bank Reconciliations” presented by Louis Li and Riley Greenlee, CPA outlined the fundamentals of performing accurate and efficient bank reconciliations to streamline the process for local government finance departments. In case you missed it – here, we’ll guide you through what you.

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2024 Annual Trends Survey: Expense Management Insights

Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.

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Navigating RetireReady NJ: FAQ Guide for Employers

Withum

As New Jersey rolls out RetireReady, employers face new requirements and responsibilities. We’ve compiled this comprehensive list of Frequently Asked Questions (FAQs) designed to address common concerns and help businesses navigate the enrollment and administration process. Understanding these details will ensure a smooth transition as the program is rolled out across New Jersey.

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Data Analytics and The Art of the Possible

Cherry Bekaert

The course will focus on the use of analytics in government, including examples of how analytics has been used to improve public sector, optimize resource allocation, and enhance citizen engagement. Participants will also learn about considerations in the use of analytics in government, including privacy concerns, data security, and AI. Learning Objectives: Build awareness of Public Sector use cases Understand steps involved in building analytics center of excellence Understand use of internal a

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RetireReady NJ Guide: What You Need to Know 

Withum

A brief history of retirement plans in the U.S. shows the first private pension plan was introduced in 1875 by American Express. This only covered a select few of the U.S. population. In 1937, the U.S. government passed the Social Security Act, providing even more coverage to the general population. However, social security was intended only to provide 40% of an individual’s monthly retirement income.