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.

Finance 111
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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.

CPA 97
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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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Maine Nonprofits Get Blanket Sales Tax Exemption

CPA Practice

By Gail Cole. Maine governor Janet Mills wanted to get rid of the red tape that separates many Down East nonprofits from sales tax exemptions. She succeeded: As of January 1, 2025, thousands of nonprofits in Maine will be eligible for a blanket exemption. Maine is the only state in New England — and one of just 17 states nationwide — that doesn’t already provide a blanket sales tax exemption for nonprofits, according to a report by Maine Revenue Services (MRS) that was presented to the Maine

Maine 110
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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.

CPA 126

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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 86
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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 104
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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.

cpas 120
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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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Navigating Corporate Travel Changes Post-Pandemic

Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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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 114
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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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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.

Florida 67
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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.

Alaska 97
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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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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.

Finance 70
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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.

Maine 59
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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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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.

Account 59
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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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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 64
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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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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 67
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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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Best Practices to Streamline Compensation Management: A Foundation for Growth

Speaker: Joe Sharpe and James Carlson

Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.

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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.

Florida 52
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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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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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A Quick Historical Bookkeeping Cleanup

Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

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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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Updates to Section 174 and How They Impact Your Company

Shay CPA

Back in 2017, as the holiday season was well underway, startups got what many consider the opposite of a gift. With the implementation of the Tax Cuts and Jobs Act (TCJA), companies lost the right to take a tax deduction for R&D expenses in the year in which those expenses were incurred. As of December 2017, a TCJA Section 174 amendment laid out rules stating that taxpayers needed to capitalize and amortize their deductions over five (for domestic research) or 15 (for foreign research) years

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The Impact of ‘Making Tax Digital’ on UK landlords

Menzies

Menzies LLP - A leading chartered accountancy firm. The ‘Making Tax Digital’ (MTD) requirements mark a big change for how taxes are reported and managed. Designed to increase the efficiency of the tax system, MTD aims to make tax administration more effective and easier for taxpayers to get their tax right. For landlords, this transition brings both challenges and opportunities.

Tax 52
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AccountsIQ announces Darren Cran as CEO

Accounting Insight

AccountsIQ , the cloud-based accounting software for mid-market organisations, has today announced the appointment of current COO Darren Cran as its new Chief Executive Officer. Darren has been with AccountsIQ for over twelve years, joining when the company had just 14 employees and has played a key role in scaling the business to over 90 employees supporting more than 20,000 users worldwide.

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.