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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Have Home Rule Jurisdictions Made the Burden of Managing Sales and Use Tax Too Much?

TaxConnex

Have Home Rule Jurisdictions Made the Burden of Managing Sales and Use Tax Too Much? As if managing sales and use tax obligations on a multi-state level wasn’t hard enough, some states make it even tougher with “home rule,” where jurisdictions are granted the authority to pass their own, additional tax laws. This can create deep confusion for businesses with no physical presence in a jurisdiction with these rules.

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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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Less Stress, More Success: Accounting Best Practices & Processes for 2025

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.

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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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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.

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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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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

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.

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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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Back to Basics with Reconciliations

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.

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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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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

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

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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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Five Steps to Empower Your Workforce with AI

Cherry Bekaert

Leaders who are hesitant to provide artificial intelligence (AI) training and development opportunities to their employees are missing a vital opportunity to empower their workforce and transform their organization. A recent report by Microsoft and LinkedIn found that 66% of business leaders would not hire someone without AI experience, but 45% of executives are not investing in AI tools or products for their current employees.

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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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Harness the Potential of Your Enterprise Knowledge

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.

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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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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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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: 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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Solve Your Firm's Automation Complexities Once and For All

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.

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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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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.

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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.