Wed.Nov 01, 2023

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IRS Opens Clean Vehicle Tax Credit Tool to Auto Dealers

RogerRossmeisl

As reported via IR-2023-202 on 11/1/2023 IRS opens free Energy Credit Online tool for sellers of clean vehicles to register for time-of-sale reporting and dealer advance payments for the Clean Vehicle Credit The Internal Revenue Service announced today that sellers of clean vehicles can now register using the new IRS Energy Credits Online tool, available free from the IRS.

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CFOs should embrace digital transformation or risk irrelevance

Accounting Today

In an ever-shifting global landscape full of economic uncertainties, the traditional role of chief financial officers is undergoing a seismic evolution.

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Top 12 expense management tips for businesses in 2024.

Airbase

In a tumultuous economy, effective expense management is more important than ever. To maintain financial stability and drive strategic growth, organizations must optimize spending and have accurate financial data to inform decisions. Effective expense management is often challenging due to the complexity and diversity of employee spending. With numerous cost categories, complex approval processes, and the need for accurate recordkeeping, it’s often difficult to maintain control and visibility ov

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IRS increases 401(k) and IRA limits

Accounting Today

The service issued its annual adjustments for retirement plans, with some reflecting changes in the SECURE 2.0 Act.

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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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Top 12 expense management tips for businesses in 2024.

Airbase

In a tumultuous economy, effective expense management is more important than ever. To maintain financial stability and drive strategic growth, organizations must optimize spending and have accurate financial data to inform decisions. Effective expense management is often challenging due to the complexity and diversity of employee spending. With numerous cost categories, complex approval processes, and the need for accurate recordkeeping, it’s often difficult to maintain control and visibility ov

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IRS extends time to 'perfect' R&D tax credit claims

Accounting Today

Taxpayers will now have through Jan. 10, 2025, to fix a refund claim.

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Redefining digital taxes

Accounting Today

A new proposal would create new definitions of digital goods for state taxation.

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Gaynor Meilke on People-Centric Accounting and Technology Friendly Firms

Canopy Accounting

In Episode 1 of Canopy's Practice Success podcast, Gaynor Meilke , owner of Charisma Inc. emphasizes accountants are often people-oriented and love helping others. Gaynor suggests that accountants may lack confidence in marketing themselves and their services. Gaynor highlights that marketing is a continuous process for accounting firms and recommends focusing on key strategies like social media, building an email list, and having a strong website.

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5 Family-Based Income Tax Breaks

CPA Practice

It costs a pretty penny to raise a child from infancy through their college years. At least, families may be eligible for certain tax benefits along the way. Here are five of the main tax breaks on the books. 1. Child Tax Credit: Under current law, the partially refundable Child Tax Credit (CTC) can be claimed by parents with dependent children under age 17.

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List of the Day: These Are the Firms on the 2023 MOVE Project Best CPA Firms for Women List

Going Concern

The Accounting & Financial Women’s Alliance and Accounting MOVE Project have released their Best Firms for Women list and while some names might prompt a hearty who?? from the audience, still others are familiar names known for their women-friendly culture. What does it mean to be a best firm for women in the year 2023 anyway? From the list’s press release [ PDF ]: In the 2023 Accounting MOVE Project report, released today, a talent-starved profession receives a fresh influx of s

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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.

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Employers Can Get a Tax Benefit for Providing Gym Access

CPA Practice

Is your company requiring more employees to return to the business premises? They may be reluctant to do so, but you can offer some new accommodations that might make things more worthwhile. For example, your company may provide a gym or similar athletic facility on the premises so employees can work out before or after work hours (or maybe even during lunch) There are several potential benefits such as creating goodwill and improving morale—not to mention fostering better health among workers—p

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Revenue vs. Profit: Understanding the Difference and the KPIs that Matter

AccountingDepartment

Business owners strive to maximize their company’s profits. After all, profits are the primary metric of a successful business. However, not everyone understands the difference between revenue and profit, and why it matters for their business.

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How CPA Firms Can Compete for Top Talent in the Year Ahead

CPA Practice

CPA firm leaders outlining staffing plans for the coming year can’t help but worry if they will hit their hiring goals. This concern is not misplaced: Research for the 2024 Salary Guide From Robert Half found that organizations in both public and corporate accounting are grappling with an accountant shortage. Employers in both camps are trying multiple strategies — and often competing fiercely with each other — to attract and retain top talent.

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Imagineering Field Service Management for NetSuite

Insightful Accountant

I put my mind to work while I was at SuiteWorld to think about new ways to 'imagineer' the uses for the new NetSuite Field Service Management feature.

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The Growth Architect: How Financial Leaders are Unlocking Potential

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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Xero Awards UK: Introducing our 2024 judges

Xero

We’re excited to announce our official judging panel for the Xero Awards UK 2024. This year’s panel is made up of Xero leadership, as well as guest judges from the Xero community, including previous Xero Award-winners and industry leaders. They’re taking on the difficult task of selecting our winners for the 12 accountant, bookkeeper and app partner award categories.

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The Ins and Outs of E-Filing 1099s With the IRS

Patriot Software

When you own a business, you may need to hire an extra helping hand, like a vendor or contractor, to get a job done.

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Choreo acquires BDO wealth management business

Accounting Today

Choreo, a Chicago-based independent investment advisory firm that spun off from Top 10 Firm RSM US last year, has acquired an $8.1 billion wealth management practice from BDO USA.

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IRS Increases 401(k) Limit to $23,000 for 2024; IRA Limit Raised to $7,000

CPA Practice

The Internal Revenue Service has increased the amount individuals can contribute to their 401(k) plans in 2024 to $23,000, up from $22,500 for 2023. The agency also issued technical guidance regarding all of the cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2024 in Notice 2023-75 PDF.

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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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M&A roundup: Adams Brown, Doeren Mayhew and VSCPA expand

Accounting Today

Adams Brown merged in VonFeldt, Bauer & VonFeldt; Doeren Mayhew acquired practice from Button Eddy & Sorrentino; and the Virginia Society of CPAs acquired Don Farmer, CPA, PA.

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KROST is Attending the PrimeGlobal World Summit

KROST

Our CEO, Jason Melillo is attending the PrimeGlobal World Summit. The conference takes place from November 6th through November 9th and will be held at the InterContinental in Miami. Jason will be networking and attending sessions on topics such as business opportunities, technology, advisory, and more. The World Summit brings together leaders and professionals from Read the full article.

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PCAOB rejiggers future agendas after busy year

Accounting Today

The Public Company Accounting Oversight Board has revised its standard-setting, rulemaking and research agendas for the year ahead after a series of unprecedented changes this past year.

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How to Prepare for Black Friday and Cyber Monday Success

Menzies

Menzies LLP - A leading chartered accountancy firm. Black Friday takes place the day after the US holiday Thanksgiving, during the final weekend of November, marking the start of the Christmas shopping season. This year, it falls on November 24th. Originally celebrated in the US, its popularity has spread globally. Cyber Monday takes place on the following Monday and was created by retailers to encourage people to shop online, which in recent years has outperformed the traditional Black Friday s

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, 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.

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Vendor Spotlight: Airbase

Accounting Today

In this Vendor Spotlight, we learn more about procure-to-pay solution Airbase.

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Sean Duncan on the Transformation of Traditional Accounting and Role of Technology Adoption

Canopy Accounting

Sean Duncan, founder of SMD Consulting & Accounting, talks about how he navigated the challenging terrain of transforming a traditional accounting practice into a future-facing firm. We'll dive into the importance of aligning personal and professional goals, and discuss the game-changing role of technology adoption in achieving work-life balance.

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Private sector added 113K jobs in October

Accounting Today

Annual pay increased 5.7% year over year in another sign of continuing strength in the economy despite interest hikes and inflation.

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The Offshoring Dilemma: Top Concerns for Partners When Considering Offshoring for Their Firms

Accounting Insight

To tackle the persistent skills shortage, many accounting firms are exploring new avenues to bolster their resources and remain competitive. Offshoring , the practice of outsourcing tasks or processes to professionals in other countries, has emerged as a viable solution for many. This approach isn’t just about saving costs; it gives access to specialized skills and the ability to meet increased client demands.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

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.

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RSM Int'l CEO to step down in May

Accounting Today

Jean Stephens, who has led the group for 17 years, plans to step down in May 2024 and become a senior advisor to the network.

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3 Top Tools for Efficient Email

Ryan Lazanis

Effectively managing emails can be a time-consuming task. Explore these tools that can aid in handling your inbox and enhance efficiency. The post 3 Top Tools for Efficient Email appeared first on Future Firm.

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Doeren Mayhew Acquires Small CPA Practice in Michigan

CPA Practice

Top 60 accounting firm Doeren Mayhew said on Wednesday it has acquired Michael Sorrentino’s practice of Button Eddy & Sorrentino, a CPA firm based in Farmington Hills, MI. Terms of the deal were not disclosed. Founded in 1994, Button Eddy & Sorrentino has provided a broad range of tax, auditing, valuation, litigation support, and business advisory services to businesses, individuals, and nonprofit organizations.

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Canopy Demo Sweepstakes

Canopy Accounting

Discover how Canopy has revolutionized the operations of accounting firms similar to yours by automating intricate workflows, enhancing client interactions, and amplifying overall visibility. With Canopy's innovative solutions, real accounting professionals have harnessed the power of automation to streamline their processes, resulting in increased efficiency and reduced manual tasks!

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

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