Wed.Oct 09, 2024

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How to Track and Report In-Kind Donations

GrowthForceBlog

7 min read October 9th, 2024 Nonprofit donations are what keep your organization operating. Key Takeaways What Are In-Kind Donations : Monetary donations include any transfer of cash funds to a nonprofit organization. Any other type of contribution belongs to the other category of donations, which is known as in-kind donations. There are two kinds. How to Track In-Kind Donations in Nonprofits: Unfortunately, tracking in-kind donations is not as straightforward or simple as tracking cash donation

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Significant Tax Changes for California Startups Beginning in Tax Year 2024

BurklandAssociates

California’s new tax laws limit NOL deductions and tax credits for startups, raising potential tax burdens. Here’s what founders need to know to stay ahead. The post Significant Tax Changes for California Startups Beginning in Tax Year 2024 appeared first on Burkland.

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Finance Sector Hit Hardest By Job Scammers, Report Finds

CPA Practice

A new report from cybersecurity solutions provider Heimdal Security revealed that finance and IT are the industries most targeted by job scammers. Employment scams are nothing new, but as technology like artificial intelligence advances, career experts have seen more scammers try to take advantage of job seekers. Job scams ranked among the top five most common scams last year, according to the Federal Trade Commission.

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KPMG supports alternative CPA pathways

Accounting Today

To help build the accounting pipeline, the Big Four firm is publicly supporting other ways to earn a license.

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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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The Future of Tax: How Corporations Can Leverage New Technology for Tax Efficiency

CPA Practice

By Amanda Tickel. The administration of tax is undergoing a significant transformation, driven by the rapid digitalization of processes and the integration of advanced technologies such as Generative Artificial Intelligence (GenAI). This evolution is not just a fleeting trend but a critical long-term priority for tax authorities and businesses alike.

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Anders Named to St. Louis Business Journal’s Top 150 Privately Held Companies List

Anders CPA

Anders has been named to the St. Louis Business Journal’s list of Top 150 Privately Held Companies in St. Louis for the second time. Each year, the St. Louis Business Journal celebrates the largest and fastest-growing companies in our region. The Top 150 list features the top privately held local companies ranked in order by revenue. Coming in at #133, up from #145 in 2022, Anders is honored to make the list once again.

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Top taxpayer disputes with the IRS

Accounting Today

Disagreements with the IRS, while business as usual for CPAs, can be terrifying to the taxpayer.

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Private Assets in 401(k) Plans Pique Investors’ Interest

CPA Practice

More than one-third (36%) of investors participating in a 401(k), 403(b), or 457 workplace retirement savings plan say they would invest in private equity and private debt if their plan provided access to these assets, according to the 2024 U.S. Retirement Survey from global investment manager Schroders. Notably, 80% of plan participants say access to private investments would entice them to increase the amount they are contributing to the plan.

Education 110
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C-suite execs concerned about taxes post-election

Accounting Today

A new survey by PwC of top corporate executives uncovered worries about tax policy after the election.

Tax 122
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Bloomberg Tax & Accounting Launches Innovation Studio

CPA Practice

Bloomberg Tax & Accounting this week announced the launch of its Innovation Studio, which the research and technology solutions provider called “an ideation environment” that offers access to new tools, including generative AI-powered capabilities, that are currently under development for the Bloomberg Tax platform. The Innovation Studio is currently available to select Bloomberg Tax customers.

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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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Sales Tax Filing Mistakes To Avoid in Your Skagit County Business

SkagitCountyTaxServices

Despite being a nation that systematizes and plans, when the unexpected occurs, we still find ourselves reeling and trying to adjust. In the case of Helene and western North Carolina, it’s been a difficult battle. Who could have predicted that kind of flooding and devastation? We’re still undone by the images and updates about search and rescue efforts in those areas.

Sales 87
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Small Businesses Hit a Hiring Slump Across the U.S. in September, CBIZ Index Shows

CPA Practice

After rebounding in August , hiring significantly slowed last month among small businesses across the U.S., according to top 15 accounting firm CBIZ. The CBIZ Small Business Employment Index (SBEI), which tracks payroll and hiring data for more than 2,800 companies with 300 or fewer employees across the U.S., indicated a seasonally adjusted decrease of 2.60% in September as the third quarter comes to a close.

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Senators introduce bill to improve IRS customer service

Accounting Today

A bipartisan pair of lawmakers, Sen. Bill Cassidy, R-Louisiana, and Mark Warner, D-Virginia, introduced legislation supported by the AICPA that would create a dashboard to inform taxpayers of backlogs and wait times for their tax refunds.

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Alcohol Sellers in Alaska Need New License to Ship Directly to Consumers

CPA Practice

By Gail Cole. As of January 1, 2024, beverage alcohol producers must have a license to ship alcohol directly to consumers in Alaska. While direct-to-consumer (DTC) licenses have long been required in most other states that permit DTC shipping, this is a new requirement in Alaska: Beverage alcohol manufacturers could ship to Alaska consumers without a permit prior to 2024.

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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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Finance leader confidence in gen AI goes from 85% no to 87% yes in a year

Accounting Today

Confidence in generative AI has soared among financial operations and tax professionals, going from overwhelming negative to overwhelmingly positive in just one year.

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AICPA Comments on Dual Consolidated Losses, Disregarded Payments

CPA Practice

The American Institute of CPAs has submitted comments to the Department of the Treasury and the Internal Revenue Service on the proposed rules regarding dual consolidated losses and the treatment of certain disregarded payments. The DCL rules, under section 1503(d), prevent taxpayers from using a single economic loss to reduce both U.S. and foreign tax.

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PSA to Florida CPA Candidates: Milton Might Close Your Testing Center

Going Concern

Hurricane Milton is expected to make landfall in Florida later today or early Thursday and as such, Prometric testing centers in and around Tampa have begun shuttering up. If your exam is affected you should get a message from Prometric but any time extreme weather rolls through your town it’s always a good idea to check the Prometric closures page yourself to be sure.

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Buy-sell agreements and their tax considerations

Accounting Today

An updated, funded buy-sell agreement can allow a surviving partner to maintain sole control of the business if one of the owners or partners were to die prematurely or become disabled.

Tax 69
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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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Convenience Stores Face Many Challenges on Regulated Business Licenses

CPA Practice

By Kristin Alexander. Convenience store operators cater to customers with many needs, including travelers filling up their gas tanks, hopeful lottery winners, and neighborhood residents with midnight munchies. Ensuring everyone gets what they came for is more complicated than stocking shelves with a bit of everything. Selling a variety of products, especially heavily regulated ones like alcohol and tobacco, makes business license management complex.

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Understanding 2025 tax policy risks as election approaches

Accounting Today

In less than 30 days, Americans will elect the politicians who will set policy for the next two years in Congress and four years at the White House.

Tax 72
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Unlocking the Potential of Copilot for Business: Custom Copilots With Copilot Studio

Withum

By now, you’re probably acquainted with Microsoft’s AI assistant, Copilot, and some of you may have started implementing it within your organization. While Copilot for business is an exceptional resource that is evolving rapidly, there are still limitations to what it can achieve. Copilot was developed to optimize your Microsoft 365 (M365) tenant, offering smooth integration with all the Microsoft applications your team relies on daily to boost productivity.

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Migrating from QuickBooks to an ERP - A 'Be Insightful' Premium Webinar

Insightful Accountant

Be Insightful is sponsoring a 'premium content program' covering ERP alternatives to QuickBooks. The program includes a presentation webinar on October 24, a Blue Paper, and a follow-up Question & Answer webinar.

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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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First-Time Stock Market Investors’ 5-Step Model

Withum

The suggestions and illustrations in this article are not intended as financial advice. They are my personal opinions. Making your first investment in the stock market can be a daunting experience. Many people own stocks through mutual funds in their 401k or 403b accounts maintained by their employers. I noticed there is often a disconnect between these accounts and how investment accounts in individual names are handled.

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Never Ignore This Critical Skill as a Firm Owner

Ryan Lazanis

There's one skill they don't teach you in school that can have a huge impact on your business. Find out how to harness it in this episode. The post Never Ignore This Critical Skill as a Firm Owner appeared first on Future Firm.

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What to Look for in the Best CRM for Accounting Firms

Canopy Accounting

Accounting firms have a unique relationship with their clients, including their fiscal responsibilities and dedication to accuracy and transparency in their work. But, providing excellent service also comes with the challenge of managing client needs, individualized preferences, and their widely diverse business structures.

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Businesses Boarding Up as Floridians Go Inland to Avoid Hurricane Milton

CPA Practice

By Michael Cuglietta and Ryan Gillespie Orlando Sentinel (TNS) Noemi Soto and her daughter Desire Huerta have spent the better part of a month living in their car after getting evicted from their apartment. But they knew the vehicle was no place to ride out a storm the magnitude of Hurricane Milton, which is expected to blast Central Florida with hurricane-force winds and up to a foot of rain overnight Wednesday and into Thursday.

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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.

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October's QB Talks - Exploring Intuit Enterprise Suite

Insightful Accountant

October's QB Talks, being held October 23rd at 2pm Eastern time will explore Intuit's new Enterprise Suite. Alicia Katz Pollock will provide you with the most up-to-date information available on this new offering.

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Taxfyle and Column Tax Partner on End-to-End Embedded Tax Solution

CPA Practice

Tax-filing platform Column Tax and mobile tax preparation platform Taxfyle have teamed to create an all-in-one embedded tax and accounting solution for businesses. The partnership allows companies to bundle tax services and on-demand consultations into their existing product offering, keeping users engaged year-round, Column Tax and Taxfyle said in a media release on Oct. 2.

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Understanding Hotel Valuations in a Changing Market

Withum

Navigating the complexity of real estate valuations in the hospitality industry is crucial for business owners, investors, and stakeholders. Real estate valuations play a pivotal role in the hospitality industry for various reasons, including estate planning, sales and marketing purposes, litigation, and cost segregation. For many family-owned hospitality businesses, estate planning and succession are critical.

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October's QB Talks - Exploring Intuit Enterprise Suite

Insightful Accountant

October's QB Talks, being held October 23rd at 2pm Eastern time will explore Intuit's new Enterprise Suite. Alicia Katz Pollock will provide you with the most up-to-date information available on this new offering.

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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.