ThomsonReuters
OCTOBER 31, 2023
Jump to: What is depletion expense? Who can claim depletion expenses? How to calculate depletion expense Depletion vs. depreciation Managing depletion expenses Clients in the mining, timber, and oil and gas industries must invest a lot of time, money, and resources to extract natural resources from the earth and transform them into useful products for consumers.
BurklandAssociates
OCTOBER 31, 2023
Part two of a three-part series focused on helping growing startups budget and plan for success in the new year. The post Annual Financial Planning for Startups: Part-Two, Projections & Plans appeared first on Burkland.
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TaxConnex
OCTOBER 31, 2023
Adding a new product is great, new revenue streams are wonderful. Just don’t let sales tax turn the situation into a nightmare. Think “nightmare” is too strong? Consider: Your new product is not taxed but should have been. In the first year, your sales total is $100,000 (the economic nexus threshold in many states) and grows 20% annually over the next three years, for a total of $364,000 in sales.
CPA Practice
OCTOBER 31, 2023
By Angela Ruth, Kiplinger Consumer News Service (TNS) Trying to start a business or take one to the next level can be expensive. You might be increasing your staffing, starting a marketing campaign or developing a new product. Self-funding is often recommended, but that isn’t a possibility for everyone. Getting a business loan from your bank is certainly a possibility, but there are other funding sources available.
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.
Accounting Today
OCTOBER 31, 2023
The classification of marijuana as a Schedule I controlled substance has put cannabis businesses in a bind as far as federal taxes go, even as more states move to legalize the plant.
CPA Practice
OCTOBER 31, 2023
By Christopher Wood, CPP. On September 11, 2023, the Equal Employment Opportunity Commission (EEOC) announced that a China-based tutoring company agreed to settle an employment discrimination lawsuit that claimed the employer programmed its online software to automatically reject applicants based on their age, in violation of the Age Discrimination in Employment Act (ADEA) (see Payroll Guide ¶20,480 ).
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Accounting Today
OCTOBER 31, 2023
The IRS's most recent study of how much taxpayers aren't paying suggests some important priorities going forward.
CPA Practice
OCTOBER 31, 2023
If there were a zombie apocalypse, would your city prevail or be overrun by the walking dead? For a Halloween survey, CareerBuilder conducted a totally scientific and, of course, completely 100 percent feasible, study that gauges survival rates in various cities based on their concentration of particular occupational skills and industries. The spooky “research” was comprised of a weighted index ranking the 53 largest U.S. metropolitan areas (with more than 1 million residents).
Accounting Today
OCTOBER 31, 2023
The Golden State is poised to fall well short of its budget forecasts as the recent stock market slump erodes the state's tax takings.
Insightful Accountant
OCTOBER 31, 2023
It's 'Warehouse Wednesday' and we are returning this week to our series on BatchMaster, the application specifically designed for formula/batch processing that integrates with QuickBooks.
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
OCTOBER 31, 2023
Organizations are preparing themselves to comply with the SEC's climate-related disclosure rule, according to a new survey.
Insightful Accountant
OCTOBER 31, 2023
Client Hub, a leader in modern workflow platforms for accounting and bookkeeping firms, is proud to announce the launch of its groundbreaking AI-enabled email integration.
Anders CPA
OCTOBER 31, 2023
The Community Reinvestment Act (CRA) was enacted nearly 50 years ago to help low- and moderate-income (LMI) households access credit and financial services. Federal bank regulatory agencies have issued a final rule on the CRA with a goal of strengthening and modernizing the regulation considering changes to the banking industry that have occurred since the last significant revision in 1995.
inDinero Accounting
OCTOBER 31, 2023
A nonprofit statement of financial position is one of several documents nonprofits can use to demonstrate where donors’ money is being spent. It’s essential for nonprofits looking to grow—but they can be complicated. In this guide, we’ll teach you the core components of the nonprofit statement of financial position and how to put one together in a way that’s as painless as possible.
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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.
Canopy Accounting
OCTOBER 31, 2023
Navigating the world of practice management software can be a daunting task. This guide is designed to streamline the process, providing purchasers with the essential knowledge and tools they need to make an informed decision.
Withum
OCTOBER 31, 2023
The Internal Revenue Service (“IRS”) released Rev. Proc. 2023-33 on October 6, 2023, with additional information on how individuals buying used or new electric vehicles (EVs) can transfer a federal income tax credit to the auto dealership at the time of purchase, as opposed to claiming the credit on their federal income tax return. In a recent IRS National Automobile Dealers Association webinar, the IRS encouraged all auto dealerships to register as soon as the IRS Energy Credits Online Portal i
Accounting Today
OCTOBER 31, 2023
Progress on DEI is picking up, according to the just-released 2023 Accounting MOVE Project results.
Mark Lee
OCTOBER 31, 2023
You’re not alone if you’re fed up of hearing commentators, software vendors and app developers tell you what your clients are thinking. Not that they know of course. They are speculating and many are simply repeating what they have heard others say; and then mistakenly think these messages resonate with you. I’m not in practice any more and I’m certainly fed up of hearing this nonsense – as what they are saying makes no sense when they talk about your current clients.
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
Accounting Today
OCTOBER 31, 2023
The Top 50 Firm has expanded its presence in LA.
Going Concern
OCTOBER 31, 2023
Guess this will have to do until the Silent Hill 2 remake comes out. “The Face of the Future” campaign uses images of more than 200 actual EY people terrifyingly mashed together with AI voiceover. The concept, says the firm, is to show how people are at the center of AI. To highlight every individual’s facial architecture, a specially adapted one-shot StyleGAN was created.
Accounting Today
OCTOBER 31, 2023
Growth in hourly and weekly pay at small businesses decelerated in October as job growth moderated, payroll provider Paychex reported.
Insightful Accountant
OCTOBER 31, 2023
Join Kristen Nies Ciraldo and Kelly G 'Rocks' for the next 'QB Talks,' Nov. 8, at 2 p.m. (EST). The 'over the top' pair will take you on a tour of the upcoming 'QuickBooks Connect.
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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.
inDinero Accounting
OCTOBER 31, 2023
A nonprofit statement of financial position is one of several documents nonprofits can use to demonstrate where donors’ money is being spent. It’s essential for nonprofits looking to grow—but they can be complicated. In this guide, we’ll teach you the core components of the nonprofit statement of financial position and how to put one together in a way that’s as painless as possible.
ThomsonReuters
OCTOBER 31, 2023
Jump to: How is AI affecting accounting? Is AI replacing accounting jobs? What is AI automating in accounting? Can AI do accounting? How to use AI to innovate Artificial intelligence (AI) is making its presence felt across many industries—and the accounting profession is no exception. While 51% of accounting professionals believe that ChatGPT and generative AI should be applied to tax, accounting, and audit work, opinions are divided about the usefulness of AI tools.
Dent Moses
OCTOBER 31, 2023
You may be able to benefit from enhanced residential energy credits as a result The Inflation Reduction Act of 2022. Energy Efficient Home Improvement Credits Building envelope components and energy property qualify: Exterior doors (30% of costs up to $250 per door) Exterior windows or skylights (30% of costs up to $600) Insulation materials (30% of costs) Residential energy property like air conditioners and water heaters (30% of cost up to $600 per item) Requirements Simply buying a replacemen
Inform Accounting
OCTOBER 31, 2023
For some time, taxpayers within Self Assessment have been able to set up a Time to Pay arrangement online, allowing them to pay their tax bill in instalments if they cannot pay it in full and on time. The facility to set up their own Time to Pay arrangement has now been extended to VAT-registered businesses.
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.
CPA Practice
OCTOBER 31, 2023
MGO (Macias Gini & O’Connell), a top 50 CPA firm based in Los Angeles, said on Tuesday it will be combining with fellow LA accounting firm J. Arthur Greenfield & Co. Financial terms of the deal were not disclosed. J. Arthur Greenfield’s team of 20 staff and four partners are expected to join MGO’s Century City office at the end of the year. Kevin O’Connell “With complementary service lines and a shared commitment to providing team members with an amazing experience, we’re proud to welcom
Inform Accounting
OCTOBER 31, 2023
You’re in business to do business, not paperwork. Dext is the business expense tracker that tracks, reads and stores your receipts and invoices on the go, so you can focus less on finance and more of your time on what really matters: growing your business.
CPA Practice
OCTOBER 31, 2023
By Alexandra Skores, The Dallas Morning News. (via TNS) Southwest Airlines said that because of its December operational disruption, the Dallas-based airline could be subject to fines or penalties from the Department of Transportation. The Department of Transportation told Southwest on Oct. 27 that the air carrier “failed to provide adequate customer service assistance, prompt flight status notifications and proper and prompt refunds,” leading to a potential civil penalty, according to a governm
Accounting Today
OCTOBER 31, 2023
Automation pitfalls; partners in meetings; offering financial planning; and other highlights from our favorite tax bloggers.
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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.
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