Cherry Bekaert

AUGUST 9, 2024

Thirty-five percent of global companies now utilize some form of artificial intelligence (AI) in their businesses, while 42 percent claim to be exploring AI within their company, according to an Exploding Topics trend analysis. Although the recent surge of generative AI brings with it many benefits and assets, there are also inherent risks. As an increasing number of organizations continue to integrate AI into their processes, having a plan to mitigate risks, such as data privacy breaches, biase

Technology 75

Technology Transportation Government Legal 75

CPA Practice

AUGUST 9, 2024

The 2023 version of Form 8308, Report of a Sale or Exchange of Certain Partnership Interests , requires information to be reported contingent upon the finalization of substantially all of a partnership’s tax return by January 31, months in advance of the due dates for Form 1065 and related Schedules K-1. These new filing requirements place an undue burden on taxpayers and tax practitioners by mandating the duplicate reporting of information already required to be reported on Schedules K-1.

tax return 131

tax return cpas Tax Sales 131

Accounting Today

AUGUST 9, 2024

Accounting tech space sees major acquisitions this week; Bitwave releases Data Fusion tool for digital assets; TaxValet gains B-corp status; and other accounting tech news.

Technology 128

Technology Account accounted accountant 128

CPA Practice

AUGUST 9, 2024

Hybrid work has been shown to benefit workers—from better work-life balance to higher job satisfaction and more. Still, many employees expected to make the trek into the office—even on a partial basis—may put up a fight. A new report from The Conference Board identifies ways that businesses can not only reduce employee resistance to a hybrid model but maximize its value to the business.

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121

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

AUGUST 9, 2024

DMJPS launches Be Greater Scholarship to celebrate 75th anniversary; Weaver adds three to transaction advisory services; and more news from across the profession.

Tax 128

Tax 128

CPA Practice

AUGUST 9, 2024

Hosts Randy Johnston and Brian Tankersley, CPA, review CYMA Payroll , a system designed for providers offering volume payroll processing and unique markets that process complex payroll. Use the video player below to watch, or the podcast player below to listen to the podcast. – Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.

payroll 119

payroll Technology Account accounted 119

CPA Practice

AUGUST 9, 2024

Retail sales continued to grow in July as consumers shopped for school and college supplies and took advantage of special promotion days offered by some retailers, according to the CNBC/NRF Retail Monitor , powered by Affinity Solutions, from the National Retail Federation. “July’s data reflects what we are seeing across the economy, that while consumers remain cautious, they are still spending on essentials when they find value,” NRF President and CEO Matthew Shay said.

Sales 119

Sales Retail Sports 119

Accounting Today

AUGUST 9, 2024

The Treasury Department and the Internal Revenue Service said Friday that Connecticut will be the latest state to join the IRS Direct File program for free tax preparation.

Connecticut 126

Connecticut Tax tax preparation income tax 126

CPA Practice

AUGUST 9, 2024

Professionals on the Move is a round-up of recent promotions and staffing news from around the profession. CLA Celebrates More than 700 Advancements CLA (CliftonLarsonAllen LLP), the eighth-largest accounting firm in the United States, recently announced more than 700 advancements across the firm. Twice each year in July and November, CLA advances high performing team members to new roles, further developing the firm’s talent and investing in its succession mindset.

Ohio 111

Ohio audit cpas CPA 111

Going Concern

AUGUST 9, 2024

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.

accounting firms 104

accounting firms Account accounted accountant 104

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Technology

Accounting Today

AUGUST 9, 2024

Many payroll systems claim to be cloud-native, yet fail to deliver the true benefits.

payroll 93

payroll 93

Randal DeHart

AUGUST 9, 2024

Understanding financial statements might sound daunting, but small business owners like you must stay on top of your game. Each financial report offers unique insights into your company's economic status. As a construction contractor, your financial statements provide valuable insights into your company's financial health and are essential for making informed decisions.

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financial statements Construction Gaming quickbooks 85

Accounting Today

AUGUST 9, 2024

The IRS has postponed payment and filing deadlines for those affected by the storm.

Tax 83

Tax 83

Going Concern

AUGUST 9, 2024

FT reported on Wednesday that the King’s EY was hit with a £295,000 fine ($376,309 USD) after the firm surpassed the allowed non-audit billing amount for a Russian steel company called Evraz. The fine was originally more than £321k but the FRC gives firms a discount if they admit to breaking the rules and/or assist in an FRC investigation. “It would not be fair to treat any part of this announcement as constituting or evidencing an investigation into, or findings in respect of the co

Non-Profits 72

Non-Profits audit auditor Government 72

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

Accounting Today

AUGUST 9, 2024

Everything you need to know about regs, judicial decisions, IRS pronouncements and more from the first half of 2024.

Tax 83

Tax 83

Cherry Bekaert

AUGUST 9, 2024

Industrial manufacturing businesses are constantly looking for ways to reduce costs, increase profits and invest in new equipment or facilities. Fortunately, many states offer various tax credits and incentives to help companies achieve business goals and thus stimulate economic growth within their states by offering tax subsidies. In addition to the typical credits related to investment and job creation, below are five valuable tax credits available to businesses operating within the manufactur

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Manufacturing West Virginia Mississippi Louisiana 64

Accounting Today

AUGUST 9, 2024

With the merger, the Regional Leader will add offices in Cedar Rapids and Coralville, Iowa.

Iowa 78

Iowa 78

CPA Practice

AUGUST 9, 2024

This webinar will be held on Tuesday, September 10, 2024 at 3:00pm ET Sponsor: Drake Software Duration: 1 Hour (CPE and CE) Register Now As online communication and storage become the new norm for the tax preparation industry, data thieves have taken advantage of more opportunities to steal sensitive taxpayer information. Tax preparers can take steps to protect themselves and their clients by understanding and establishing a clear, strategic data protection plan for their businesses.

Tax 52

Tax Indiana tax preparation CPA 52

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

Accounting Today

AUGUST 9, 2024

Eligible professionals can now earn revenue share with QuickBooks Payments

quickbooks 65

quickbooks 65

CPA Practice

AUGUST 9, 2024

The Financial Accounting Standards Board ( FASB ) has issued its 2024 Investor Outreach Report. The document is now available through the FASB investor web portal at [link]. “Since our first report in 2021, the FASB has engaged in more than 1,750 investor interactions,” noted FASB Chair Richard R. Jones and Technical Director Jackson M. Day in their opening letter.

income tax 52

income tax accounting standards financial accounting Government 52