Mon.Nov 20, 2023

article thumbnail

Navigating the AI Wave in Accounting | Part 2: The Cutting-Edge of AI in Accounting

Insightful Accountant

The digital transformation of the accounting world isn't just coming—it’s already here, and AI is leading the charge. In Part 2, we invite you, the tech-curious accountant, to roll up your sleeves and delve deeper into the AI toolkit.

article thumbnail

IRS Outlines Withdrawal Process for Employee Retention Tax Credit (ERTC) Claims

RogerRossmeisl

As reported via IR-2023-193 on 10/19/2023 Special initiative aimed at helping businesses concerned about an ineligible claim amid aggressive marketing, scams As part of a larger effort to protect small businesses and organizations from scams, the Internal Revenue Service announced the details of a special withdrawal process to help those who filed an Employee Retention Tax Credit (ERTC) claim and are concerned about its accuracy.

Tax 197
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

96% of Accountants Think Automation is Essential for Profession

CPA Practice

A new study on how accounting professionals feel about their profession, job satisfaction, and automation has found that, while they are overwhelmingly positive about the profession, there is a clear need for more automation. This is an opportunity for firms to provide better client and employee experiences and to gain a competitive advantage. These results were part of the study, “Automation: Putting Accountants on the Right Path,” which was commissioned by ShareFile , a business unit of Cloud

article thumbnail

Master Class in Automotive Modular Assembly

RogerRossmeisl

As posted to the AutoLine Network YouTube Channel on 9/11/2023 (Run Time 10 min, 13 sec) AutoLine’s John McElroy interviews Caresoft’s Han Ly at the International Motor/Mobility Show in Munich. Caresoft, a company that specializes in vehicle teardowns and benchmarking, provides insights into how Tesla designs its cars for modular assembly, notably how it eliminates fasteners and complexity.

CPA 130
article thumbnail

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

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.

article thumbnail

Why Small Business Owners Should Sign Up for the New IRS Business Tax Account 

CPA Practice

By Melissa Angell, Inc. (TNS) The new business tax account from the IRS , unveiled in late October, is expected to expand next year with a slate of new features that should make tax time a little smoother for entrepreneurs. The new features will allow companies to check their tax payment history, make payments, view notices, and enjoy the benefits that an individual tax account offers.

article thumbnail

New rules proposed on credits for renewable energy property

Accounting Today

The Treasury and the IRS issued laid out possible regs to update the investment tax credit rules to encompass various forms of renewable energy.

Tax 124

More Trending

article thumbnail

QuickBooks Inventory, Sales and E-commerce Enhancements

Insightful Accountant

QuickBooks is enhancing their inventory, sales and E-commerce capabilities by incorporate components from QuickBooks Commerce which they acquired from Trade Gecko.

article thumbnail

Retail Sales Up 2.5% Year-Over-Year

CPA Practice

Retail sales kept up a long streak of year-over-year gains in October even though the rate of growth continued to slow, according to a statement from National Retail Federation Chief Economist Jack Kleinhenz. His remarks were in response to the U.S. Census Bureau’s most recent release of monthly retail sales data. “Fourth-quarter consumer spending stepped off on a more moderate pace, as expected,” Kleinhenz said.

Retail 111
article thumbnail

Top Remote Accounting Freelancers of the Week: November 20, 2023

Going Concern

Looking to staff up for a season or hire a freelancer for a project? Accountingfly is ready to partner with you! Gain full access to a pool of highly skilled and experienced remote freelance accountants ready to join your team with with no up-front cost. We are sharing a sneak peek of a few top freelance accounting candidates available this week with Accountingfly.

article thumbnail

Maximizing Client Success: A Memorable Journey at the QuickBooks Connect

Insightful Accountant

Susan Pruskin shares her wonderful experience at QB Connect. Join her as she revisits her first ever Human Tunnel welcome, and amazing Main Stage Speakers.

article thumbnail

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.

article thumbnail

Monday Morning Accounting News Brief: PwC Cheating Costs Juniors $21k; Watch That Busy Season Stress | 11.20.23

Going Concern

Good morning and happy pre-Thanksgiving Monday. It’s a short week so let’s just get this over with. Here’s an article from AccountancyAge on mental health in the profession : In the precise and structured realm of accounting, the topic of mental health is often an overlooked narrative. Behind the precision of financial statements and the clarity of audits, accountants confront a set of unique challenges.

article thumbnail

Business Travel Expenses: What Companies Need to Know 

inDinero Tax Tips

Figuring out business travel expenses can be confusing. The IRS has many rules outlining deductibility, and without a well-thought-out system for tracking business expenses , maximizing deductions while remaining protected from an audit can be a challenge. This article is a part of our ultimate guide on business expenses and tax deductions. We’ll cover everything from the general rules and efficient record-keeping to incorporating tax-deductible personal days into your trip.

article thumbnail

Bonadio Group finds ways to attract more people to accounting firms

Accounting Today

The Top 50 Firm is improving its compensation and benefits to bring in more experienced professionals and young recruits.

article thumbnail

AvidXchange Releases Top Priorities and Trends for Finance Leaders in 2024

Insightful Accountant

AvidXchange report reveals top five initiatives finance professionals are considering when planning for the year ahead.

Finance 111
article thumbnail

Back to Basics with Reconciliations

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.

article thumbnail

The Guide to 2024 Tax Season-Individual Updates

Canopy Accounting

Identify and comprehend the latest updates and changes in tax laws for the upcoming 2024 tax year.

Tax 111
article thumbnail

Ted on Tech: Upgrading your office

Accounting Today

With the holidays coming fast upon us, it's time to start thinking about presents. Ted Needleman scoured the review pile to see what might be appropriate to update your office, or to gift to staff.

article thumbnail

Millennials Will Be Spending Like It’s 2019 This Holiday Season Per the Deloitte Black Friday Report

Going Concern

Someone who’s good at both math and Googling should tally up how many reports Deloitte consultants crank out in a year, it’s got to be at least 1,000. Today it’s a timely one: Deloitte’s 2023 Black Friday-Cyber Monday Survey. Key takeaways from the survey of 4,318 consumers : Consumers plan to spend an average of $567 during the Black Friday-Cyber Monday (BFCM) shopping events (Thursday, Nov. 23 – Monday, Nov. 27), up 13% from last year.

Retail 65
article thumbnail

Art of Accounting: 10th anniversary column, looking forward to next 10 years

Accounting Today

Public accounting is rapidly moving into the future, and anyone who doesn't realize this will fail to remain competitive or viable.

article thumbnail

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

article thumbnail

New Jersey Society of CPAs Announces CPA Exam Lottery Winners

CPA Practice

The New Jersey Society of Certified Public Accountants has awarded 10 of its members $750 each towards their CPA Exam fee costs. The CPA Exam Fee Lottery winners, which are Affiliate or Student members of the NJCPA, were selected at random out of more than 50 entries. The annual lottery, which launched in 2019, was created to partially offset the cost of preparing for and taking the CPA Exam, which can exceed more than $2,500 considering enrollment fees, review courses, study guides and other pr

article thumbnail

Weaver to merge in Buchbinder Tunick

Accounting Today

The Top 40 Firm based in Houston expanding its East Coast presence in New York, the Washington, D.C. area and New Jersey.

article thumbnail

CBIC Notifies Amnesty Scheme for filing of Appeal under GST till 31.01.2024 

VJM Global

Amnesty Scheme is a one time window that the government opens to complete compliance of earlier periods. Government keeps on announcing Amnesty scheme for various compliances so that those who have failed to carry such compliance by the specified due date may complete the same within new notified dates with less or no penalties. Similar to Amnesty Scheme of Filing of Annual returns , Filing application for revocation of cancelled GSTIN , CBIC has now announced an amnesty scheme for filing of App

Tax 59
article thumbnail

Is CRM worth it?

Accounting Today

Customer and client relationship management systems have come a long way, says Sarah Dobek of Inovautus Consulting.

75
article thumbnail

Harness the Potential of Your Enterprise Knowledge

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.

article thumbnail

Business Travel Expenses: What Companies Need to Know 

inDinero Tax Tips

Figuring out business travel expenses can be confusing. The IRS has many rules outlining deductibility, and without a well-thought-out system for tracking business expenses , maximizing deductions while remaining protected from an audit can be a challenge. This article is a part of our ultimate guide on business expenses and tax deductions. We’ll cover everything from the general rules and efficient record-keeping to incorporating tax-deductible personal days into your trip.

article thumbnail

When Will 2024 Tax Refunds Come? 2024 Tax Season Questions.

CPA Practice

It’s almost December, which means the 2024 tax filing season is coming soon. The IRS usually starts accepting e-filed income tax returns in the last week of January each year, with the deadline to file returns being April 15 (which can vary based on weekends or state holidays). If you’re wondering how long it may take to get your refund when you do file, you’re not the only one looking for the answer.

Tax 52
article thumbnail

Yes, Carbon Neutrality Can Drive Profitability

Cherry Bekaert

Saving the Planet and Increasing Corporate Profits Simultaneously “We’re Proudly Committing to Net Zero Carbon Emissions by 2035”, reads the headline. Such long-term, carbon-neutral goals have become fashionable announcements for companies and ownership groups. They increasingly seem to be downright mandatory for consumer brands, otherwise risking enouncement by a “climate cancel-culture.

article thumbnail

A Closer Look: Engagements & Proposals

Canopy Accounting

Come get a closer look into Canopy's Engagements & Proposals, the first ever natively built Engagements functionality in a practice management software, and how it can help your firm decrease admin manual labor, deliver 5-star client experiences, and collect payment faster.

52
article thumbnail

Solve Your Firm's Automation Complexities Once and For All

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.

article thumbnail

Weaver to Add New York CPA Firm Buchbinder Tunick

CPA Practice

Top 35 accounting firm Weaver will be merging in New York-based CPA firm Buchbinder Tunick & Co. on Jan. 1, 2024. This deal expands Weaver’s East Coast presence to five offices, including two in New York City, one on Long Island, one in New Jersey, and one in Washington, D.C. It also adds 125 audit, tax, and advisory professionals, including 16 partners, to the Houston-based firm.

article thumbnail

Wise - Money without borders

Inform Accounting

We're proud to be partnered with one of the market-leading foreign currency accounts! Wise Business is the only business account you need to go global. It has everything you need to grow and operate internationally - without the high fees, hefty admin, and headache of a local bank.

article thumbnail

Shakira Reaches Deal to Settle Spanish Tax Fraud Case Before Trial Begins

CPA Practice

By Ellise Shafer, Variety Entertainment News Service (TNS) Shakira has reached a deal with Spanish authorities to settle her tax fraud case, on the day the trial was set to begin. The Colombian pop star was due to appear in court on Monday to face tax evasion charges. Spanish authorities had claimed Shakira owed over €14.5 million in taxes between 2012 and 2014, alleging that she had listed the Bahamas as her primary residence for those years but had in fact spent the majority of her time in Spa

Tax 52
article thumbnail

Law Firm Leverage: How to Overcome Common Obstacles to This Essential Profit Strategy

Anders CPA

Leverage is the greatest underutilized tool in growing a profitable, sustainable law firm. Defined as the ratio of partners to non-partner professionals who are billing time to client matters, law firm leverage is typically under three-to-one. Other professional service firms, CPAs included, achieve ratios closer to ten-to-one. Simple math shows that it’s more profitable to keep others busy and productive than doing the work yourself.

article thumbnail

It Takes Two to Tango

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.