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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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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On the move: Centri names next SEC reporting leader

Accounting Today

Kaufman Rossin Group launches retirement and executive benefits service; Hancock Askew merges two advisory practices; and more news from across the profession.

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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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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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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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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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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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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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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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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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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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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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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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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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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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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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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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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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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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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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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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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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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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AP Automation: The Competitive Advantage Your Business Needs

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 technology to drive productivity and cost savings. So, how do you make the case for automation within your organization?