Accounting Today

JANUARY 16, 2024

The chairs of Congress's two main tax committees announced a deal to extend a number of expired tax credits and tax breaks, including the expanded Child Tax Credit.

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TaxConnex

JANUARY 16, 2024

Do you sell software-as-a-service (SaaS)? Then you already have one of the most complicated situations in sales tax. Your tax obligation and liability begin with where you have nexus , the connection between your company and a taxing authority or jurisdiction. Sales tax nexus was once defined only as a substantial physical presence, but for nearly six years – ever since the Supreme Court’s Wayfair ruling in 2018 – sales tax nexus can also be defined as an economic presence by just selling enough

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Accounting Today

JANUARY 16, 2024

The Internal Revenue Service and the Treasury Department told businesses they won't have to report on the digital assets they receive until regulations are issued.

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Withum

JANUARY 16, 2024

We are excited to announce that Ways and Means Chairman Jason Smith (R-MO) and Senate Finance Committee Chairman Ron Wyden (D-OR) released a bipartisan tax framework that promotes Main Street businesses, while also providing more financial security to families in need. The agreement is between the two Chairs, but respective ranking members and leadership support is still needed to pass the bill.

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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.

Finance

Accounting Today

JANUARY 16, 2024

The Korean company is seeking to keep its cars competitive with automakers qualifying for tax credits under the Inflation Reduction Act.

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Tax 128

Going Concern

JANUARY 16, 2024

It’s possible this is just clickbait and thinly veiled advertising for remote recruiters (*sweats nervously*) but according to CNBC Make It , “accountant” is “the number one in-demand remote job companies are hiring for.” Adds their headline, “it can pay over $100,000 a year.” Insert sitcom laugh track here.

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Anders CPA

JANUARY 16, 2024

The looming sunset of the expanded lifetime estate and gift tax exemption will arrive on January 1, 2026. If you are anticipating a transition of ownership of your business to your heirs in the years ahead, now may be the best time in a generation to take advantage of the increased thresholds before they expire. Gifting minority interests in the business over the next two years can help you maximize the potential tax benefit of the increased gifting thresholds.

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CPA Practice

JANUARY 16, 2024

The Treasury Department and Internal Revenue Service have issued an announcement informing businesses that they do not have to report the receipt of digital assets the same way as they must report the receipt of cash until Treasury and IRS issue regulations. The Infrastructure Investment and Jobs Act revised the rules that require taxpayers that are engaged in a trade or business to report receiving cash of more than $10,000 by considering digital assets to be cash.

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CTP

JANUARY 16, 2024

In the rush to finish last year strong, small business owners may now find themselves caught off guard by the legal requirements awaiting them in 2024. This is where you can provide additional value to your tax clients, just by familiarizing them with the new beneficial ownership information requirement. This comes as part of the Corporate Transparency Act, which seeks to crack down on illicit business activities using small businesses as a screen.

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CPA Practice

JANUARY 16, 2024

By Roger Vincent, Los Angeles Times (via TNS). In the uneasy tug of war between bosses and workers about how much time should be spent in the office, new evidence reveals that many employees think they should come in more often than they do. Office workers recently surveyed by an international architecture firm reported that they typically come into the office about half the time, but said they ideally needed to be there two-thirds of a typical workweek for their best productivity.

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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.

Technology

Insightful Accountant

JANUARY 16, 2024

Recent filing instructions include a domestic filing exception, potentially exempting domestic passthrough entities if they meet the criteria.

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CPA Practice

JANUARY 16, 2024

By Claire Withycombe, The Seattle Times (TNS) The U.S. Supreme Court said Tuesday it would not review Quinn v. Washington , the lawsuit challenging Washington’s capital gains tax. The Legislature passed the tax in 2021 and payments first came due in April 2023. It’s a 7% tax on profits gained from the sale or exchange of stocks, bonds and other investments or tangible assets above $250,000.

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CTP

JANUARY 16, 2024

As 2024 kicks off, so do new legal requirements for small businesses. The Corporate Transparency Act took effect on January 1st, which means that many businesses will need to submit a Beneficial Ownership Information Report to the Financial Crimes Enforcement Network (FinCEN). These new regulations are intended to help the U.S. government identify small businesses that are actually a front for illicit business operations, such as money laundering.

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business tax Tax Legal Government 100

CPA Practice

JANUARY 16, 2024

[ State CPA Societies in Action is a series of articles spotlighting the varied educational, advocacy, networking and professional activities of the state CPA societies across the U.S.] The Alabama Society of CPAs was formed in 1919 and adopted its recent bylaws on June 25, 1975, with the last revision completed on March 1, 2018. The purpose of the organization as stated in the bylaws, is “To unite the profession of accountancy in the State of Alabama; to promote and maintain high professional,

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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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Accounting Today

JANUARY 16, 2024

The New York-based Top 20 Firm has acquired a firm headquartered in Farmington, Connecticut.

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CPA Practice

JANUARY 16, 2024

By Lizzy McLellan Ravitch, The Philadelphia Inquirer (via TNS). In a lawsuit filed last month, Crystal Kemp, a Jehovah’s Witness, alleged that her employer, SEPTA, the regional transit authority based in Philadelphia, refused to adjust her schedule so she could attend religious meetings on Sunday mornings and Tuesday evenings. She alleges she was ultimately terminated for refusing to work during those times.

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Accounting Today

JANUARY 16, 2024

Kevin Ellis is adamant that younger staff in particular should avoid the temptation of working from home.

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Technology 96

GrowthForceBlog

JANUARY 16, 2024

8 min read Running a business is a complex endeavor, and most business leaders are experts in their own fields - not in finance.

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Finance 89

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.

Finance

Accounting Today

JANUARY 16, 2024

Retirement plan sponsors and their financial advisors receive guidance from the IRS on how the Secure 2.0 Act opened the door for "de minimis financial incentives.

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Tax 96

ThomsonReuters

JANUARY 16, 2024

Jump to: What are the benefits of remote 1040 client collaboration? How mobile apps meet client expectations Streamlining your 1040 source document collection According to a recent survey by Protiviti and The Institute of Internal Auditors (IIA) , almost 75% of respondents, including 82% of technology audit leaders, view cybersecurity as a high-risk area, and with good reason.

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Accounting Today

JANUARY 16, 2024

The Connecticut-based financial advisory firm has added a CPA firm and a registered investment advisory firm.

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Withum

JANUARY 16, 2024

Massachusetts Companies The Massachusetts Life Sciences Center Tax Incentive Program application window is now open and is offering lucrative tax savings to eligible companies. Companies that apply and are accepted into this program can benefit from various tax benefits, such as: Life Sciences Investment Tax Credit (pursuant to M.G.L c. 62, §6(m) and c. 63, §38U) Extension of Net Operating Losses (NOLs) from 5 to 15 years (pursuant to M.G.L. c. 63, §30(17)) Designation as R&D Company for Sal

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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.

CPA

Accounting Today

JANUARY 16, 2024

Hundreds of sub-postmasters in the U.K. were wrongfully prosecuted for theft and false accounting after computer glitches led to shortfalls in their accounts.

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accounted Account accountant accounting software 75

Insightful Accountant

JANUARY 16, 2024

IRS Releases Free Online Video: 2023 Form 1099-K Webinar Covers Payment App and Online Marketplace Income Reporting

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Accounting Today

JANUARY 16, 2024

A set of surveys has found that businesses are highly optimistic about the ability for generative AI to drive profits, but they're highly pessimistic about the wider social effects.

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Technology 61

Insightful Accountant

JANUARY 16, 2024

Murph is inviting you to a ProAdvisor Meet-up for an "open microphone' edition of QB Talks. He wants your thoughts on Awards, ProAdvisor Program changes and QuickBooks Desktop Pro/Premier and Payroll changes.

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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

Spend Management

Accounting Today

JANUARY 16, 2024

The TAMP developed its new tools after consulting with a group of financial advisors on the design and functions.

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Nancy McClelland, LLC

JANUARY 16, 2024

Photo by Thomas Lefebvre “What is an IRS Account Transcript and Why Do I Need One?” During the pandemic, we began requiring all clients to submit a copy of their IRS Account Transcript along with their Tax Organizer and other annual tax prep documentation. Initially, this was to confirm the amounts of stimulus payments and child tax credit payments.

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Accounting Today

JANUARY 16, 2024

Investors must account for the impact of transition risks on existing investments, including potential costs to remediate or decommission assets that would otherwise remain productive.

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Insightful Accountant

JANUARY 16, 2024

Catch three of Insightful Accountant’s Webinars this week. Here’s a sneak peek of what our webinars have in store for you.

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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.