TaxConnex

FEBRUARY 13, 2024

To help financial leaders better understand what their peers are doing when it comes to sales and use tax in 2024, TaxConnex® conducted its fourth annual sales tax survey in November of 2023. More than 100 financial leaders from different industries and from a wide range of sizes responded. Their responses are included in the following blog. For the vast majority of organizations, managing the minutia of sales tax obligations can be described as clunky, cumbersome, and risky, with each state hav

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Sales Tax audit CPA 264

RogerRossmeisl

FEBRUARY 13, 2024

If you’re an employer with a business where tipping is routine when providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Credit fundamentals The FICA credit applies to tips that your staff members receive from customers when they buy food and beverages.

Tax 158

Tax CPA business tax 158

Accounting Today

FEBRUARY 13, 2024

While passage in the Senate is uncertain, many of the changes could impact 2023 tax returns.

Tax 132

Tax tax return Finance 132

RogerRossmeisl

FEBRUARY 13, 2024

In today’s uncertain markets, the value of a business may change significantly over time. So it’s important to choose the valuation date carefully. Often, the date is prescribed by law or a judge. But sometimes attorneys or others, such as the executor in an estate valuation, are allowed to decide between different dates. A fundamental decision The valuation date serves as a cutoff for the information that can be used to estimate value.

CPA 153

CPA Sales 153

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

FEBRUARY 13, 2024

The Washington National Tax Office of Grant Thornton points out the most important state and local tax developments to keep an eye out for.

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Washington Tax 132

RogerRossmeisl

FEBRUARY 13, 2024

Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea. Tax-free treatment for eligible stock gains QSBCs are the same as garden-variety C corporations for tax and legal purposes — except QSBC shareholders are potentially eligible to exclude from federal income tax 100% of their stock sale gains. That translates into a 0% federal income tax rate on QSBC stock sale profits!

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Tax income tax Legal CPA 151

RogerRossmeisl

FEBRUARY 13, 2024

The so-called “kiddie tax” can cause some of a child’s unearned income to be taxed at the parent’s higher marginal federal income tax rates instead of at the usually much lower rates that a child would otherwise pay. For purposes of this federal income tax provision, a “child” can be up to 23 years old. So, the kiddie tax can potentially affect young adults as well as kids.

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Tax income tax CPA 148

Withum

FEBRUARY 13, 2024

Explore Other Episodes #CivicWarriors #WithumImpact The post Let’s Learn More About Epilepsy appeared first on Withum.

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113

Going Concern

FEBRUARY 13, 2024

In “Employee well-being outcomes from individual-level mental health interventions: Cross-sectional evidence from the United Kingdom” published in Industrial Relations Journal , wellbeing enthusiast and researcher Dr. William Fleming has found that wellness programs in the workplace don’t actually improve employee wellbeing. Which confirms what we’ve all known for a while now, these programs are a mostly performative gesture to make leadership feel better about themselves

Healthcare 111

Healthcare Start-ups 111

Anders CPA

FEBRUARY 13, 2024

Maintaining an in-house IT team can be costly in time and resources for small and mid-size companies, but the looming threat of cyber criminals and the need to innovate and automate make having IT expertise a non-negotiable. An outsourced IT team can provide the same advantages larger companies enjoy, like advanced cybersecurity protection, round-the-clock threat monitoring and incident response management from experienced, specialized professionals.

Technology 109

Technology CPA 109

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Technology

Insightful Accountant

FEBRUARY 13, 2024

Based on the latest Intuit QuickBooks Small Business Index, employment for small businesses with one to nine employees decreased by 14,800 jobs in January, 2024.

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quickbooks 105

Accounting Today

FEBRUARY 13, 2024

The IRS is warning practitioners about a tactic that recurs every tax season.

Tax 101

Tax tax preparation 101

Withum

FEBRUARY 13, 2024

Explore Other Episodes #CivicWarriors #WithumImpact The post Let’s Debunk Some Myths About Epilepsy appeared first on Withum.

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Cherry Bekaert

FEBRUARY 13, 2024

Governmental Accounting Standards Board (GASB) Statement No. 100, Accounting Changes and Error Corrections, an amendment of GASB Statement No. 62, is in effect for fiscal years beginning after June 15, 2023. This accounting pronouncement is intended to streamline the reporting of accounting changes and error corrections, as well as the related disclosures in governmental financial reporting.

accounting principles 96

accounting principles Account accounted accountant 96

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.

payroll

Withum

FEBRUARY 13, 2024

Government contracting can be a lucrative venture for businesses, but it comes with a host of regulatory and financial responsibilities. One of the critical elements in managing government contracts is the Incurred Cost Proposal (ICP) submissions. In this article, we will delve into what Incurred Cost Proposals are, why they matter, and how businesses can navigate this complex process effectively.

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Government audit accounting standards cost accounting 80

Accounting Today

FEBRUARY 13, 2024

Jim Lee, the head of IRS Criminal Investigation, will step down April 6.

Tax 80

Tax 80

Going Concern

FEBRUARY 13, 2024

Across the pond, a batch of recent graduates who were no doubt thrilled to get picked up by PwC in 2022 are now discovering an important life lesson: When it comes down to it, partners don’t care about you. A recent FT piece says almost 100 baby consultants will not be getting the promotion they expected in July and will instead have to wait until January 2025.

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Start-ups Tax Sales 64

Accounting Today

FEBRUARY 13, 2024

The Internal Revenue Service is looking for both corporate income and employment taxes for a four-year period.

Tax 78

Tax 78

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

CPA Practice

FEBRUARY 13, 2024

By Irina Anghel, Bloomberg News (TNS) Job vacancies at U.K. consultancies plummeted by more than 80% last year amid weak economic growth, a lack of deals in the City of London and the prospect of a general election. McKinsey and Co., Bain & Co., Boston Consulting Group and Accenture posted just 248 consulting jobs in 2023, down from 1,389 the prior year and 1,764 in 2021, according to data from labor market analytics firm Vacancysoft.

Management Consulting 59

Management Consulting audit accounting firms Government 59

Accounting Today

FEBRUARY 13, 2024

There are four critical areas to developing your chief information officer.

Technology 78

Technology 78

CPA Practice

FEBRUARY 13, 2024

The American Institute of CPAs has submitted comments to the Department of the Treasury and Internal Revenue Service in response to Notice 2023-80, which provides guidance on the foreign tax credit and dual consolidated losses in relation to the Global Anti-Base Erosion Model Rules, or Pillar Two. The notice addresses the foreign tax credit rules and the dual consolidated loss rules, to certain types of taxes described in the Organisation for Economic Co-operation and Development GloBE Model Rul

Tax 59

Tax cpas 59

Accounting Today

FEBRUARY 13, 2024

The engagement partner and engagement quality review partner on the audit of Mexican steelmaker owe a combined $165,000.

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audit 78

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

Canopy Accounting

FEBRUARY 13, 2024

Canopy has secured a coveted spot in G2's "Top 100 Fastest Growing Softwares of 2024". As the only practice management software to achieve this recognition, we take immense pride in this accomplishment. This accolade highlights Canopy's remarkable growth and impact in the technology sector, solidifying our position as a leader in driving efficiency and productivity for the accounting industry.

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Technology Account accountant accounted 59

Accounting Today

FEBRUARY 13, 2024

Who owns the business and who is going to run it are separate — but equally important — questions.

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Insightful Accountant

FEBRUARY 13, 2024

Early discussions on estate tax planning and planned giving are crucial for clients considering asset transitions later in life. They can lead to significant savings for clients and beneficiaries compared to delaying until after death.

Tax 52

Tax tax planning 52

Accounting Today

FEBRUARY 13, 2024

SALT benefits; taxing blockchain tech; how to onboard; and other highlights from our favorite tax bloggers.

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Tax tax preparation Sales 58

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

Insightful Accountant

FEBRUARY 13, 2024

No touch tax returns are the way of the future, or the present depending on who you ask. In either case, firms need to be jumping on the bandwagon.

tax return 52

tax return Tax 52

CPA Practice

FEBRUARY 13, 2024

By Irina Anghel, Bloomberg News (TNS) KPMG’s U.K. partners made an average of £746,000 ($945,000) last year, but it wasn’t enough for them to avoid being the worst paid of the Big Four accounting firms. The firm delivered a 4% rise to its 833 U.K. partners, similar to last year’s levels, KPMG said, but it means they remain bottom of the pay table of Big Four firms, as the top audit firms are known.

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audit Legal accounting firms Tax 52

Insightful Accountant

FEBRUARY 13, 2024

There is one thing 'about time', it changes over time. and so too with our QB Talks monthly webinars. Please join our new host, Alicia Katz Pollock next Wednesday, February 21, 2024 as she presents the new 'QuickBooks Time' interface.

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quickbooks 52

CPA Practice

FEBRUARY 13, 2024

Mazars reached global revenue of €2.8 billion ($2.998 billion) for its 2023 financial year, up from €2.45 billion ($2.63 billion) in 2022. 2023 was the third consecutive year that Mazars’ global network of firms has achieved double-digit growth across all services (both audit and non-audit). Hervé Hélias “It’s been another successful year with 13% growth demonstrating the strength and relevance of our unique integrated partnership model.

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audit auditor accounting firms accountant 52

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