Shay CPA
JANUARY 24, 2024
In 2023, it seems like you can outsource just about anything. You might pay a company to provide first-level customer support, or you might work with a marketing agency to develop and run campaigns. You might turn to a third-party provider for HR or website development. And, of course, companies are leaning into the benefits of outsourcing their financial services.
Accounting Today
JANUARY 24, 2024
The House Ways and Means Committee reported the text of the Tax Relief for Workers and Families Act after voting last week to advance the bipartisan bill.
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Withum
JANUARY 24, 2024
The R&D Tax Credit is a tax incentive that can be applied as a dollar-for-dollar offset against a company’s tax liability if they engage in activities related to the design and development of a product, process, formula, invention, software, or technique within the United States. Additionally, start-up businesses with less than $5 million in gross receipts in the current taxable year and no gross receipts prior to the fifth previous taxable year (e.g., for 2023, the company must not have gro
CPA Practice
JANUARY 24, 2024
If employee retention isn’t already a priority focus for your CPA firm, you may want to make it one — and soon. Research from Robert Half found that 27% of finance and accounting professionals in the United States are either looking for a job right now or planning to do so in the next six months. That may not sound like a significant percentage. But could you afford to lose more than one-quarter of the best players on your team, especially during tax season?
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.
Going Concern
JANUARY 24, 2024
EY has announced plans to grow its Global Delivery Services (GDS) staff in Manila by 50 percent in the next two years, bringing the total from 5,000 to 7,500. These are the offshore staff working directly with EY member firms, half of whom do assurance work while the other half focus on tax and consulting. Malaya Business Insight : In a press conference, Andrea Catte, EY GDS Philippines tax co-leader and EY Asia-Pacific & EY Global Compliance and Reporting ( lead, said the company will boost
Accounting Today
JANUARY 24, 2024
Businesses are likely to see more sales tax audits in 2024 as a result of changes happening across the states, according to a new report.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Cherry Bekaert
JANUARY 24, 2024
The Internal Revenue Service (IRS) has taken several steps to tackle the millions of invalid Employee Retention Credit (ERC) claims. First, they temporarily halted all ERC claims until the beginning of 2024. Two new programs were introduced by the IRS to aid employers who may have filed ERC claims they didn’t qualify for without realizing it. The IRS announced the Voluntary Disclosure Program (VDP) on December 21, 2023, to aid employers who filed invalid ERC claims.
CPA Practice
JANUARY 24, 2024
Less than half of Americans (44%) say they can afford to pay a $1,000 emergency expense from their savings, according to a new Bankrate survey. This is up slightly from 43% in 2023, and at the same level as 2022. Nearly two-thirds of Americans (63%) say inflation/rising prices have caused them to save less for emergencies, while nearly 1 in 5 (19%) say they are saving more for emergencies because of rising interest rates.
Cherry Bekaert
JANUARY 24, 2024
Contributors: DeWanna Coleman Governmental Accounting Standards Board (“GASB”) Statement No. 100, Accounting Changes and Error Corrections—an amendment of GASB Statement No. 62, is in effect for fiscal years beginning after June 15, 2023. This accounting pronouncement is intended to streamline the reporting of accounting changes and error corrections and the related disclosures in governmental financial reporting.
Xero
JANUARY 24, 2024
It can be tricky to keep tabs on the taxes and deductions you owe throughout the year as a small business. However, paying on time means getting peace of mind that you’re meeting your GST payment obligations as a business, and avoiding late penalties that cut into your earnings. If your business is registered for GST, you’ll have a number of deadlines to meet during the new year to file and pay GST.
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.
Accounting Today
JANUARY 24, 2024
The agency is adding new financial reporting and accounting requirements for SPAC deals.
AccountingDepartment
JANUARY 24, 2024
From a manufacturing perspective, inventory is everything for business owners that can significantly impact their financial well-being. That is why effective inventory management is of utmost importance for manufacturers or other businesses that keep things on the shelves.
Accounting Today
JANUARY 24, 2024
The division of Archer-Daniels-Midland that's under investigation for its accounting practices is responsible for less than 10% of the crop giant's revenue. Yet it's had an outsized influence on recent executive bonuses.
CPA Practice
JANUARY 24, 2024
By Vincent Gabrielle, New Haven Register, Conn. (TNS) The IRS announced Monday that tax relief for individuals and businesses in flood-stricken parts of Connecticut would be made available. Those affected by the recent storms, flooding or the Fitchville dam failure are eligible. IRS officials announced the agency would extend its April 15 filing deadline for those taxpayers, who now have until June 17, 2024 to submit tax returns and make tax payments.
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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.
Accounting Today
JANUARY 24, 2024
A client resource hub is a dedicated section of your website that serves as an easy-to-skim central repository of information for your clients.
CPA Practice
JANUARY 24, 2024
Enrolled agents who have a Social Security number ending in 7, 8, or 9, or those with no Social Security number, must renew their EA status by Jan. 31 to ensure they receive their new enrollment card before their current enrollment expires on March 31, according to the IRS. Per Circular 230 , EAs are required to renew their EA status every three years, and the time frame for renewal is based on the last digit of their Social Security number.
Going Concern
JANUARY 24, 2024
How come the stock photo hackers are always wearing hats indoors and surrounded by vape clouds? As if public accountants didn’t have enough to worry about, local WLNS of Lansing, Michigan reported today that an accounting firm employee had apparently put ‘unauthorized’ software on colleagues’ phones and laptops. Why? No one knows.
CPA Practice
JANUARY 24, 2024
The new year is a time to look ahead, think about change, and set goals — ideally, a mix of attainable and aspirational ones. But for CPA firm leaders, it’s difficult to focus on the future when you’re dealing with a host of immediate business priorities. Top among them is competing for finance and accounting talent to staff both new and vacated roles and help keep critical projects moving forward.
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
Withum
JANUARY 24, 2024
In today’s world, the concept of sustainability has become imperative across industries and manufacturing is no exception. Sustainable manufacturing refers to the process of creating products while minimizing negative environmental impacts, conserving resources and optimizing operational efficiencies. As populations expand and demographics shift, climate change and resource depletion concerns intensify.
Accounting Today
JANUARY 24, 2024
Recent research from the Federal Reserve Bank of San Francisco says that working from home has little relationship with productivity, either positive or negative.
Ryan Lazanis
JANUARY 24, 2024
Clients care about 4 things, and it's important to know them. By doing so, you'll have more success in price increases and much more. The post The Only 4 Things Your Clients Care About appeared first on Future Firm.
Reckon
JANUARY 24, 2024
The accounting profession will not be immune to recent and future advances in AI. There’s a lot of hand wringing out there in the accounting community, among others, about how AI might impact their jobs or even make them obsolete. This is the wrong way to think about AI. As with the advent of cloud computing, AI can be a boon to the profession and simply make the job more accurate and less labour intensive, freeing up accounting professionals to do more of the ‘human work’.
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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.
Inform Accounting
JANUARY 24, 2024
Are you a business owner or entrepreneur? Do you want to be more intentional this year? Here are 5 ways to figure out what it is you really want, so you can chart your course for the year ahead.
CPA Practice
JANUARY 24, 2024
By: Beau Beaullieu, AIF®, C(k)P®. It’s too common in our profession that business owners search for tax deductions after receiving their tax bill. By that time, it is typically too late for anything to be done for that tax year, but to some owners, waiting to “cash in” after the next fiscal cycle is too long to wait. There is a benefit that takes some planning, but it’s worth the time in the taxes it’ll save.
Withum
JANUARY 24, 2024
This week’s Barron’s January 22, 2024 issue has an article titled “How Our Picks and Pans Fared in 2023”. The subhead read in part, “The 77 companies featured in bullish Barron’s articles last year slightly trailed their benchmarks.” The overall performance of the 77 picks was a gain of 9.9%, while the benchmark returns were 12.7%. I read Barron’s regularly each week and recommend it to anyone seriously interested in stock market investing.
CPA Practice
JANUARY 24, 2024
Wolters Kluwer has announced that multinational companies that use the SAP Document and Reporting Compliance solution can now manage their U.S. local and state indirect tax filing obligations within SAP S/4HANA. This new functionality is made possible thanks to a new, native integration between the SAP Document and Reporting Compliance solution and the Wolters Kluwer CCH SureTax solution.
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.
Insightful Accountant
JANUARY 24, 2024
Automating tasks like inbox management, client leads, and data collection can save time during tax season. AI tools like ChatGPT offer cost-effective solutions for practice management.
CPA Practice
JANUARY 24, 2024
Forwardly, the instant payment solutions for small to medium-sized businesses and accounting firms, has launched a new advanced Bill Payments system. The new accounts payable automation will allow small businesses in the U.S. to pay bills instantly with 24/7/365 processing while providing multi-level approval features and flexibility to send partial and scheduled payments.
FraudFiles
JANUARY 24, 2024
One of the common defenses of multi-level marketing is that it is a legitimate business method that has been around for a long time. I’ve also been told that if it was illegal, it would have been shut down. Some companies that were widely touted as “legal” or “legitimate” MLMs, such as Advocare, HAVE been [.
Accounting Today
JANUARY 24, 2024
The IRS is pushing back payment and filing deadlines for those hit by January weather.
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