Mon.Feb 26, 2024

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The 20 worst states for doing business

Accounting Today

The lowest-ranked states have property and unemployment insurance taxes like every state, but significantly they also have complex, non-neutral taxes with comparatively high rates.

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Banking Webinar Series | Understanding CRA’s New Retail Lending Test: What Banks of Every Size Need to Know

Anders CPA

Face your Retail Lending Test with confidence backed by to-the-minute research on an evolving regulation Wednesday, March 27 at 10:00am CT The new Retail Lending Test was introduced as part of the Community Reinvestment Act (CRA) final rule and its implementation will have considerable impact on large and intermediate-sized banks, in addition to the small banks who opt-in.

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FTC hits H&R Block over 'free' online filing claims

Accounting Today

The Federal Trade Commission filed a complaint against tax prep giant H&R Block accusing the company of deceptively marketing "free" online tax filing when its products often were not free and deleting consumers' data when they tried to downgrade to less expensive products.

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The 10 Most Common Words (and Misspelled Words) on Resumes

CPA Practice

A new study has revealed the most overused words on resumes, with ‘responsible’ coming in first, which features on more than 5.1 million American resumes. QR code generator QRFY , compiled a list of 50 commonly used resume words and phrases, and then ran each of these through Indeed’s Resume Search, to find which featured the most across resumes updated in the past 6 months.

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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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IRS donor-advised fund proposal could have 'chilling effect'

Accounting Today

Planners who recommend the increasingly popular charitable vehicles could face penalties for what's currently a pretty common practice in the industry, experts say.

Tax 124
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Structuring: What Are the Most Common Fund Structures and Entity Types?

Withum

In this release of Venture To Know we discuss structuring and the most common fund structures and entity types from a tax perspective. What Are the Most Common Fund Structures? Emerging managers typically employ a three-vehicle structure, which includes a fund, a general partner entity, and a management company. The fund serves as the vehicle for subscribing limited partners, receiving capital, and making investments.

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More Trending

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Lifelong Learning: More Than a Credits Requirement

Insightful Accountant

Continuing education is essential for tax practitioners, not just for credits but for career success and organizational growth.

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Spotlighting Women in Advisory Practice: “We needed to focus on what people wanted,” says Erin Heath, CPA

ThomsonReuters

There are many paths to accountancy, but this is one we don’t hear of often:  Erin Heath   grew up on a cattle ranch in South Dakota, where many of her “ranch-hand” duties sparked her interest in numbers. But it was an introduction to accounting class in high school that paved the way. “It was love at first sight,” she recalls. “I enjoyed it more than chasing cows.

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Hubdoc and Dext: Powerful Xero pairings for burgeoning businesses

Xero

Financial data lies at the heart of any small business operation. Managing it can be a juggle, but there are an array of tools you can use to stay on top of this crucial information and better manage your cash flow and compliance. Depending on what stage of the business growth journey you’re on, some Xero-connected solutions are more appropriate than others.

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Art of Accounting: Moving staff up to replace a higher-level person

Accounting Today

You need a method to retain your staff, even for a little longer, so your firm doesn't get stuck when someone leaves.

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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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An Architect's Blueprint for Building a Successful Firm

GrowthForceBlog

9 min read With 110 employees, $25 million in top-line revenue, and 15% profits, Guy Geier is a managing partner, leading one of the largest architecture firms in the U.S., FX Collaborative. Key Takeaways Leading an Architecture Firm Through a Pandemic: The pandemic was a challenging time for all businesses, including FX Collaborative which saw business slow and revenue decline.

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NRA loses landmark trial over millions in wasted donor funds

Accounting Today

One high point of the trial was the testimony of Oliver North, who said that in 2019 he pushed for an outside audit of the NRA's finances but longtime leader Wayne LaPierre refused.

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Outsourced Accounting Frequently Asked Questions (FAQs)

Cherry Bekaert

Contributor: Veronica Vannoy Cherry Bekaert offers outsourced accounting services to businesses that want to reduce costs, improve efficiency and focus on core operations. Our certified accounting professionals produce accurate and timely financial reporting, while ensuring confidentiality and data security. With our help, your business can streamline accounting processes, increase productivity and make informed decisions based on reliable financial information.

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More money available for Low-Income Taxpayer Clinics

Accounting Today

The IRS is particularly interested in applications covering Hawaii, Kansas, Nevada, North Dakota, South Dakota, West Virginia and Puerto Rico.

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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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Unlocking Success: A Guide to an Effective User Acceptance Testing Plan

Withum

User acceptance testing (UAT), also called application testing or end-user testing, is a phase of software development in which the software is tested in the real world by its intended audience. User Acceptance Testing (UAT) is a critical phase in software development, where the end-users validate the system before its release. It ensures that the software meets business requirements, is ready for production and helps identify any issues that might affect the user experience.

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Mauldin & Jenkins merges in CFO Navigator

Accounting Today

The Regional Leader has added a firm that offers financial guidance to businesses and nonprofit organizations in the Atlanta area.

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Thomson Reuters Acquires Pagero for $800 Million

CPA Practice

Thomson Reuters Corporation has completed its acquisition of Pagero for $800 million. The acquisition marks the sixth deal closed by Thomson Reuters since January 1, 2023, with a total acquisition value of approximately $2.1 billion, contributing to a stronger, strategically aligned portfolio with exciting growth prospects. Pagero is a provider of e-invoicing and indirect tax solutions, which it delivers through its Smart Business Network.

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Making mentoring work

Accounting Today

AICPA chair Okorie Ramsey dives into how accounting firms can make the most of this important recruiting and career development tool, and the benefits it offers for both mentee and mentor.

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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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Matthew Kanas on The Year of Change Management ft. Ignition & AI

Insightful Accountant

Survey by Ignition reveals top challenges in accounting firms: staffing shortages, manual processes, and workload abundance. Gary and Matt discuss strategies and AI solutions for effective change management.

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Choosing an Online Bill Payment Solution for QuickBooks Online

SchoolofBookkeeping

QuickBooks Online is a popular accounting software for small businesses and it provides a range of bill pay options. One of the most important features for business owners is the ability to pay bills electronically, which can save time and reduce errors. There are different bill pay options available in QuickBooks Online, a newly launched Quickbooks Bill Pay Service, Melio, Bill.com, and Corpay One among others.

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Unlocking the Potential: How Proof-of-Reserves Is Changing the Game

Withum

Proof-of-reserves is a method cryptocurrency exchanges and other financial institutions use to demonstrate that they hold the funds they claim to have on deposit to ultimately fund customer balances. The concept behind proof-of-reserves is to provide transparency and to assure customers and regulators that the institution has the necessary assets to meet its financial obligations.

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Danielle Supkis Cheek Named VP at Caseware

CPA Practice

Caseware International , a global leader in cloud-enabled audit, financial reporting and data analytics solutions, is pleased to announce the appointment of Danielle Supkis Cheek as Vice President, Head of Analytics and AI. Supkis Cheek joins Caseware from MindBridge where she was Vice President of Strategy and Industry Relations. Her outstanding career, spanning over 15 years in public accounting, includes senior leadership roles within various small and medium sized firms, as well as several y

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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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The FTC Safeguards Rule: Get Your Dealership in Compliance

Withum

As of June 9, 2023, the FTC Safeguards Rule took full effect and is now required to be implemented for compliance. The rule expanded applicability to auto dealers that hold or process personal information and are considered a “non-banking” financial institution. What does it mean for auto dealers? Well, June 9, 2023, has come and gone. Owners and management should receive periodic updates on the status of their cybersecurity program as they are accountable.

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The Bonadio Group Raises $25K for Charitable Campaign

CPA Practice

The Bonadio Group , a nationally ranked accounting firm, has announced the results of its second annual “The Big Give” fundraising campaign, including nearly $25,000 of donations, 1,250 staff volunteer hours, and support to over 50 non-profit organizations across the firm’s national footprint. The fundraising campaign, which ran from October 1 through December 31, 2023, encouraged employees to raise money for an organization of their choice by earning a $20 cash grant from the Bonadio Foundation

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Key Takeaways From the 2023 AICPA Dealership Conference

Withum

There is no better place for automotive accountants and CFOs to pack in CPE credits, networking, good food, and fun than at the AICPA Dealership Conference. The CPAs at Withum always look forward to this event in Las Vegas in October after deadlines have settled. It’s a chance for us to get together with our industry contacts, clients, and other accounting firms to discuss hot topics for the current year and the upcoming year.

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Shout-Out This Person Whose Jumping Ship Made It Into EY’s PCAOB Inspection Report

Going Concern

As mentioned in today’s Monday Morning Accounting News Brief and first spotted on Canadian Accountant , a shout-out is in order for this person who bailed on EY Canada to go work for the client and scored themselves a mention in the firm’s 2022 PCAOB inspection report: The firm reported one instance of potential non-compliance with PCAOB Rule 3500T regarding firm personnel negotiating prospective employment with an audit client.

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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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Maximize Your Dealership’s 2024 Returns With These 4 Tax Credits and Reporting Requirements

Withum

With so much going on in the dealership world, it is easy for items like filing deadlines and tax credits to fall by the wayside. While these mundane things can often get lost in the shuffle, keeping these items at the forefront is imperative. They can potentially result in heavy penalties for missed deadlines or lost opportunities for dealers to save money.

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Monday Morning Accounting News Brief: Semper Fi-nancial; EY Gets a D in Auditing; Deepfake CFOs Are a Thing | 2.26.24

Going Concern

Hi, welcome to another Monday. *insert sassy observation here* As you ready yourself for the week ahead, take some time to contemplate the fact that there’s better s**t to do with your life than work it away. I took off yesterday afternoon and this afternoon to help my son find another car, because his car was totaled a couple of weeks ago. I am so thankful that my schedule now allows me to take an afternoon or two off if I need to.

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Trump pledges to slash taxes if he returns to the White House

Accounting Today

Trump said that he would make sure that "tariffs on foreign countries go up" and that "taxes on American workers and families will come down very substantially.

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