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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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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Building a Business Case for Finance Automation

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.

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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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Helping Homeowners Lower Their Property Tax Bills: Look for Signs of an Over-Assessment

CTP

News headlines are making it clear that homeowners across the country are experiencing similar pains—a dramatic rise in their latest property tax bills. The average property tax bill in 2023 was $4,061, which amounts to a property tax rate increase of 6.9% , twice as much as the previous year. When clients come to you asking for help lowering their tax bill, do you know what your options are when it comes to property taxes?

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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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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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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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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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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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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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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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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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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

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.

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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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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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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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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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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

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.

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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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IAASB issues new guidance on auditing less complex entities

Accounting Today

The advice will help in determining the appropriate situations to use the standard.

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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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Standing out from the CAS crowd

Accounting Today

Niching down your CAS practice makes marketing easier … and more effective.

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Cash Flow Secrets Every Upskilled CPA Should Know

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.

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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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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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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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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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Profit in the Details: Rethinking Spend for Monumental Impact

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

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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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M&A Roundup: Sikich expands in DC area, and more

Accounting Today

Plus Platform Business Advisors adds a firm that serves hotels in Texas.

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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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In the blogs: Strange but true

Accounting Today

Useful tips; pets and tax bills; becoming simply profitable; and other highlights from our favorite tax bloggers.

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.