Tue.Dec 26, 2023

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Maintaining financial transparency in business

Accounting Today

When companies can accurately portray their financial health, it becomes easier for them to establish credibility, build relationships with stakeholders and access capital.

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Listeners’ Favorites: Our Top Podcast Episodes of 2023

BurklandAssociates

Thank you to all the experts throughout the startup ecosystem who joined our Startup Success podcast in 2023 to share knowledge and insights. The post Listeners’ Favorites: Our Top Podcast Episodes of 2023 appeared first on Burkland.

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IRS falls behind on tax return scanning goal

Accounting Today

The Internal Revenue Service is not expected to meet the Treasury Department's goal of scanning millions of returns by the end of the year.

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Accounting Firm Holiday Parties Used to Be Wild

Going Concern

The following post about a rowdy accounting firm holiday party was originally published on December 17, 2014. For more reading on holiday parties of yore, see this r/accounting thread from six years ago: Christmas Party Stories. My Firm Holiday Party is a Teaching Moment For What Not to Do at a Firm Holiday Party By Leona May One year at my firm, we had a Christmas party at the nicest hotel in the city.

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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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The 20 least financially savvy states

Accounting Today

The bottom state in the ranking received a total score for financial literacy of 51 out of 100.

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Murph hosts a ProAdvisor Meetup for January's QB Talks

Insightful Accountant

What better time of the year to find out what you are thinking.ProAdvisors are invited to January's "open microphone' edition of QB Talks to tell us what you think about the ProAdvisor Awards, the ProAdvisor Program and recent QB-Desktop news.

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2024 Tax Refund Dates – How to Estimate When to Expect a Refund

CPA Practice

Updated: Dec. 26, 2023 , 9:31 pm ET. It’s almost January, which means the 2024 income tax filing season is coming soon. Although last minute tax law changes can have an impact, the IRS usually starts accepting e-filed income tax returns in the last week of January each year. The deadline to file returns in 2024 is April 15 (this sometimes varies based on weekends or state holidays).

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Consumers Consider Starting New Businesses in 2024

Insightful Accountant

According to the recently released Intuit QuickBooks Entrepreneurship in 2024 Report, nearly a quarter of US consumers are considering starting a new business in 2024.

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Telling the IRS from the crooks — and how to fight back

Accounting Today

More and more fraudsters are impersonating the IRS, so taxpayers need to know how to tell the difference, and what to do if someone tries to scam them.

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5 SMB Trends to Expect in 2024

AccountingDepartment

Small and medium-sized businesses (SMBs) are essential to the economy, accounting for more than half of all jobs worldwide. In recent years, several trends have impacted how SMBs operate, and we can expect even more changes to come in 2024. To prepare for the future, businesses must be aware of these shifts and adapt accordingly. In this blog post, we will discuss five SMB trends that we can expect to see in 2024, dealing with AI, customer experience, sustainability, and cybersecurity.

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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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Where's AI going, anyway?

Accounting Today

What does the future hold for AI and accounting? While predictions over the long term are dicey, Accounting Today asked AI experts what people may see in the short term.

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Mastering TRID Tolerance Buckets: Avoid Penalties from These Common Errors

Anders CPA

The Truth-in-Lending RESPA Integrated Disclosure Rule ( TRID ) has been in effect since October 2015. With almost a decade to learn the ins and outs of the disclosures required under the rule , most lenders are aware that it’s imperative to disclose fees as accurately as possible to avoid errors that could create potential tolerance cures. To highlight the common errors that can lead to reimbursement scenarios, the three different tolerance buckets are explored in depth below.

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IRS plans rules to clarify R&D expensing

Accounting Today

The Internal Revenue Service and the Treasury Department have issued a notice saying they intend to propose regulations to address the capitalization and amortization of specified research and experimental expenditures.

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Rules for When To Issue a 1099 Form to a Vendor – Updated for 2023

Nancy McClelland, LLC

As is the case every year, we’re hearing from lots of folks confused about when to send a 1099 form or other “information returns” to someone. It is true that over time, these forms have continued to change, and the rules have become more specific… but the basics remain the same. The most important point is that only businesses need to issue 1099s — if you paid someone for personal purposes, you are not (yet) required to send them or the IRS a Form 1099.

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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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Leonard Green to buy Iris Software stake at £3.2B value

Accounting Today

Iris supplies software for the U.K. accounting, payroll, human resources and education sectors.

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Unleashed Software @ QuickBooks Connect 2023

Insightful Accountant

Unleashed is cloud-based inventory management software that unlocks your cashflow and saves time – so you can concentrate on growing your business.

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IESBA makes progress on sustainability and tax ethics standards

Accounting Today

The International Ethics Standards Board for Accountants approved an exposure draft on ethics and independence standards for sustainability reporting and assurance and a final ethics standard for tax planning and related services.

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Rules for When To Issue a 1099 Form to a Vendor – Updated for 2023

Nancy McClelland, LLC

As is the case every year, we’re hearing from lots of folks confused about when to send a 1099 form or other “information returns” to someone. It is true that over time, these forms have continued to change, and the rules have become more specific… but the basics remain the same. The most important point is that only businesses need to issue 1099s — if you paid someone for personal purposes, you are not (yet) required to send them or the IRS a Form 1099.

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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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Tax Strategy: Self-employment tax and limited partners

Accounting Today

In a recent case, the Tax Court addressed the issue of when limited partners may be subject to self-employment tax.

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A&E Industry Trends for 2024

GrowthForceBlog

7 min read In collaboration with the American Council of Engineering Companies (ACEC), Association of Consulting Engineering Companies Canada, American Institute of Architects (AIA), and Society for Marketing Professional Services (SMS), the software company, Deltek recently released the results of its 43rd annual report, Clarity: Architecture & Engineering Industry Study.

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You're doing it wrong: Annual portfolio rebalancing isn't enough

Accounting Today

Technology helps financial advisors unlock much more value by being able to switch up clients' buckets of investments at any time throughout the year.

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Demystifying alternative risk transfer programs and their tax consequences

Accounting Today

ART programs provide a number of benefits, including more control over premiums and a more stable renewal process. However, the tax consequences require a thorough vetting.

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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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Technology you don't have, but probably should

Accounting Today

You may have been up to date yesterday, but there's probably an advance in current technology, or an entirely new technology, that can help you or your clients be more accurate, and more productive.