Fri.Mar 15, 2024

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Building the Ideal Team in Your Accounting Firm

Canopy Accounting

Experience isn't everything. Discover the secrets to building the perfect team for your accounting firm with insights from Jason Blumer, CPA, CEO and Founder of Blumer CPAs.

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Navigating Tax Relief Services in Whittier, California: A Lifeline for Taxpayers

MyIRSRelief

In the bustling city of Whittier, California, individuals and businesses alike face the daunting task of navigating the complex world of taxes. From unfiled tax returns to unpaid back taxes, and from employment 941 payroll issues to the intimidating process of IRS, FTB, EDD, and CDTFA audits, the challenges can seem insurmountable. However, tax relief services offer a beacon of hope, providing expert guidance and support to those in immediate need.

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Grant Thornton gets major PE stake

Accounting Today

Private equity firm New Mountain Capital is taking a majority stake in Grant Thornton in the biggest deal to come along in PE firms' involvement in the accounting field.

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IRS Offers Special Resources Pages in 21 Languages

CPA Practice

The Internal Revenue Service continues to increase the amount of information available in multiple languages. Although the primary language of the agency is usually expressed in dollar signs followed by numbers and commas, the agency offers a variety of support tools to help people across multiple languages. The agency’s multilingual efforts are a part of its Strategic Operating Plan, which has received additional funding since the enactment of the Inflation Reduction Act.

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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.

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Private Equity Is Taking a Majority Stake in Grant Thornton

Going Concern

The selection of “Grant Thornton” images on our stock photo site sucks, this office in Ireland is the best I could do sorry. This morning we received a tip: Grant Thornton with a “strategic partnership” with New Mountain Capital. All hands call at 12:30 CST to discuss Before we had a chance to go digging around — we haven’t heard a peep about this until now — our tipster sent over a link to a fresh Financial Times report : Grant Thornton US sells majorit

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IRS Says March 22 is Deadline to Resolve Questionable ERC Claims

CPA Practice

The Internal Revenue Service has renewed its message for businesses to review the Employee Retention Credit guidelines to avoid future compliance action for improper claims. Amid aggressive marketing that misled many businesses into filing claims for ERC, the IRS has sharply increased compliance action through audits and criminal investigations – with more activity planned in the future.

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“Blueprints for Business” – Digital Event Aims to Help Firms in 2024

CPA Practice

Matthew Fulton, Founder of QB Community Live and Parkway Business Solutions , and Richard Roppa-Roberts, known as “The ProAdvisor Advisor” and the Founder of Roundtable Labs, today announced the launch of Blueprints for Business , a free year-long online series devoted to education for accountants and bookkeeping professionals. Sponsored by Forwardly, this series will be sharing Fulton and Roppa-Roberts’ wealth of knowledge that targets the crucial aspects of professional growth and business man

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The Secrets To Stellar Client Service In The Construction Industry

Randal DeHart

Customer service is the heartbeat of any successful business. The unsung hero transforms a potential disaster into an opportunity and a mere transaction into a lifelong relationship. In the narrative of customer loyalty and retention, service is the protagonist. Your approach to customer service has the power to attract and retain clients. As a construction business owner, client service is critical to your company's success.

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How to Generate Pay Stubs for Employees

Patriot Software

When payday rolls around, employees receive their wages for hours worked. They may also receive a digital or paper pay stub, which breaks down their earnings and deductions. As an employer, you must know how to generate pay stubs. Pay stubs are essential documents for both employers and employees.

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Without proper software training, tax season can mean costly gaffes

Accounting Today

Tax filing season can be an extremely trying time for corporate tax and accounting professionals as they have to navigate countless forms and compile extensive amounts of information without errors.

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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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Grant Thornton Is the Latest U.S. Firm to Get Into Bed With Private Equity

CPA Practice

Baker Tilly is no longer the largest U.S. accounting firm that has secured a substantial investment from a private equity group, after Chicago-based Grant Thornton—the seventh-biggest firm in the nation by revenue—said on Friday it will receive “a significant growth investment” from New Mountain Capital “to accelerate [our] business strategy.” Financial terms of the deal haven’t been disclosed, but the Financial Times reported today that Grant Thornton has agreed to sell “a majority stake” to Ne

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KPMG partners with AuditBoard

Accounting Today

The partnership gives KPMG clients access to AuditBoard's AI-powered technologies as part of the Big Four firm's services.

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UK Theatre Tax Relief: A Permanent Boost for the Stage

Withum

Late last week, the Chancellor in the United Kingdom (UK) announced exciting news which the theatre industry welcomed with open arms; a permanent extension for the increased theatre tax relief rates for productions produced in the UK. In March of 2023, the higher rates had been extended, but were scheduled to sunset in April 2025. This announcement removes the sunset provisions, making the enhanced rates permanent at 45% for touring productions and 40% for sit-down productions.

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More CFOs transition into CEOs

Accounting Today

A growing number of CEOs have been attaining the CFO job, with a record number of them reaching the top rung at the biggest companies last year.

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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.

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Microsoft 365 Plans and Options for Firms – The Accounting Technology Lab Podcast – Mar. 2024

CPA Practice

Hosts Randy Johnston and Brian Tankersley, CPA, talk about the most productive and cost-efficient ways to use Microsoft 365 in public accounting firms. March 2024. Use the video player below to watch, or the podcast player below to listen to the podcast. == Or use this podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.

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Equity incentives in the technology sector

Menzies

Menzies LLP - A leading chartered accountancy firm. Retention is a key issue for businesses operating in the technology sector, both because of the high demand for skilled employees and also the more transient nature of the profile of employees in the sector. Technology businesses need to make sure their key employees are incentivised in the right way to ensure they stay, and that the business is able to continue to scale at a fast-moving rate.

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Payroll Pain: 3 quarters of UK pay runs taking longer than a day

Accounting Insight

New research from people management platform Employment Hero shows UK payroll providers are struggling for days to deliver each pay run, as messy data and inefficient processes slow them down. 76% of the 444 payroll providers surveyed said the average pay run took one day or more to complete, with “two days” being the most common time for completion.

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How to Write a Letter of Disengagement with Free Template

Canopy Accounting

As a professional accountant, there may come a time when you need to end an engagement with a client. A conclusion to a client relationship could be due to several reasons, such as a realignment of your firm's services, a conflict of interest, or non-compliance with agreed-upon terms by the client.

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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

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A Comprehensive Guide to SOC 2 Reporting

Cherry Bekaert

In an increasing digital world, service organizations need to operate in a way that protects their data and their customers’ data from unauthorized access, preventing security breaches and other cyber vulnerabilities. Technology services users need to understand the controls implemented to safeguard their data and financial statements. Listen to our speakers as they unpack SOC 1 & 2 reporting requirements, the advantages and benefits to having a report, and the regulatory compliance matters

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Crafting the Perfect Client Termination Letter

Canopy Accounting

As a professional accountant, there may come a time when you need to end an engagement with a client. A conclusion to a client relationship could be due to several reasons, such as a realignment of your firm's services, a conflict of interest, or non-compliance with agreed-upon terms by the client.

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Independent CPA requirements can be a costly risk for tenants

Accounting Today

By requiring tenants to retain an independent CPA firm to perform a similar review of the same data, the landlord is all but controlling the outcome.

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Is President Biden On the Right Track With His Billionaire and Business Tax Increase Plans?

CPA Practice

By Phillip Molnar, The San Diego Union-Tribune (TNS) President Joe Biden introduced several plans recently at the State of the Union address targeting big businesses and the wealthiest Americans. He said the moves would reverse many large tax breaks enacted by the Trump administration. The president said he would like to see the corporate tax rate rise to 28%, and what’s known as the corporate minimum tax rate increased to 21%.

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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.

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Tech news: Thomson Reuters to rebrand to emphasize AI

Accounting Today

Plus, LeaseCrunch offers webinar on GASB 87, 96; and other accounting technology news.

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Friday Footnotes: PwC Isn’t Getting a Redemption; Just Say No to NOCLAR; Oh, Layoffs? | 3.15.24

Going Concern

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

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Austrian heiress wishes her €25M fortune had been taxed

Accounting Today

Marlene Engelhorn plans to let 50 strangers decide the fate of her inheritance.

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The definition of 'rich' — and its impact on taxes

Accounting Today

President Biden wants the wealthy to "pay their fair share." Ex-President Trump calls for "the biggest tax cuts." But labeling people as rich creates massive policy challenges.

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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.