RogerRossmeisl
JANUARY 21, 2025
Understanding how to deduct transportation costs could significantly reduce the tax burden on your small business. You and your employees likely incur various local transportation expenses each year, and they have tax implications. Lets start by defining local transportation. It refers to travel when you arent away from your tax home long enough to require sleep or rest.
TaxConnex
JANUARY 21, 2025
An exemption certificate is one of the most useful tools that your online company has for sales tax. This little piece of paper is used to exempt an otherwise taxable transaction from sales tax. The overall concept is that the end user incurs sales tax and that all sales of tangible personal property are taxable unless specifically enumerated, usually in legislation.
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RogerRossmeisl
JANUARY 21, 2025
Business valuation experts often rely on prospective financial statements when applying the discounted cash flow (DCF) method to value a private business interest. However, when management prepares financial projections for another purpose such as a loan application repurposing them to estimate fair market value for litigation purposes may raise a red flag.
AccountingDepartment
JANUARY 21, 2025
Financial reporting has always been a critical pillar of effective business management. It's the roadmap that guides decisions, uncovers opportunities, and highlights risks. However, in a fast-evolving economic landscape, relying solely on monthly reports or quarterly financial statements is slowly becoming obsolete.
Speaker: Dave Sackett
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
RogerRossmeisl
JANUARY 21, 2025
Medicare health insurance premiums can add up to big bucks especially if youre upper-income, married, and you and your spouse both pay premiums. Read on to understand how taxes fit in. Premiums for Part B coverage Medicare Part B coverage is commonly called Medicare medical insurance. Part B mainly covers doctors visits and outpatient services. Eligible individuals must pay monthly premiums for this benefit.
Withum
JANUARY 21, 2025
The updated guidance in Chapter 8 of the American Institute of Certified Public Accountants (AICPA) Accounting and Valuation Guide: Valuation of Privately-Held-Company Equity Securities Issued as Compensation, outlines a framework for using primary and secondary transactions in company securities to assess their impact on estimating the fair value of equity for stock-based compensation.
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BurklandAssociates
JANUARY 21, 2025
Accurate accounting for R&D expenses is critical for compliance and can have significant tax benefits as well as financial reporting and operational implications. The post Accounting for R&D Costs in a Biotech Startup: Why Its Important to Get it Right appeared first on Burkland.
Withum
JANUARY 21, 2025
Let’s examine the withholding requirements for 401(k) plan distributions. Distribution Withholding Requirements A participant may receive a distribution from their vested account balance when one of the following below occurs: Participant reaches the age of 59 The participant dies, becomes disabled, or terminates employment The Plan terminates and no successor defined contribution plan is established or is maintained by the Plan Sponsor The participant has a financial hardship and the Plan
Mark Lee
JANUARY 21, 2025
A recent conversation with cybersecurity expert Francis West prompted me to revisit a previous discussion here about the risks of cybercrime affecting accountants in practice. Given the evolving threat landscape, I asked him to highlight the current challenges and solutions we need to keep in mind. Francis has been involved in the technology sector for over thirty years, providing IT and cybersecurity solutions to a range of industries, including finance, recruitment, and legal.
Withum
JANUARY 21, 2025
A retirement plan may allow participants to access their accounts while still employed via a hardship distribution when there is an immediate and heavy financial need, whether it was incurred deliberately or unintentionally. Immediate and heavy financial need would include any of the following listed below: Medical care expenses for the employee, the employees spouse, dependents or beneficiary Tuition and related educational fees and room and board expenses for the next 12 months of postsecondar
Speaker: Erroll Amacker
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
Accounting Today
JANUARY 21, 2025
KPMG US has set up a subsidiary that has filed an application in Arizona to establish a law firm in the state, with hopes of going national.
ThomsonReuters
JANUARY 21, 2025
Blog home In the ever-evolving landscape of auditing, the integration of artificial intelligence (AI) has emerged as a transformative force. AI-powered risk identification tools are revolutionizing the audit process, enhancing efficiency, accuracy, and overall effectiveness. Mercadien , a leading accounting and advisory firm, has experienced firsthand the benefits of AI-powered risk identification tools.
Dent Moses
JANUARY 21, 2025
There seems to be a great deal of confusion about the required minimum distributions from inherited IRAs. A wide variety of factual situations can occur, making a simple explanation impossible. The following chart attempts to summarize the new rules for inherited IRA distributions. Due to confusion, the IRS has provided relief for beneficiaries who inherited IRAs between 2020 and 2025.
CPA Practice
JANUARY 21, 2025
The IRS updated frequently asked questions about the Energy Efficient Home Improvement Credit and the Residential Clean Energy Property Credit inFact Sheet 2025-01 on Jan. 17.
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Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
VJM Global
JANUARY 21, 2025
In the matter of Unionbase Nidhi Limited By Office of Registrar of the Company, Uttar Pradesh M/s Unionbase Nidhi Limited (The Company) is having registered office in the state of Uttar Pradesh with authorised share capital of INR 1,00,000/-. During verification, it was observed that in the Financial statements of the company for 2016-17, 2017-18, and 2018-19, the directors did not mention DIN under their signatures.
CPA Practice
JANUARY 21, 2025
A handful of home rule states Colorado, Alabama, Louisiana, Arizona, and Alaska are making moves toward simplification. Still, businesses selling into home rule states continue to face an onerous tax compliance burden.
Accounting Today
JANUARY 21, 2025
Affected taxpayers now have until Oct. 15 to file and pay their taxes, matching the federal relief from the IRS.
Summit CPA
JANUARY 21, 2025
Like many small businesses , agencies are cyclical. Nobody knows this better than Tom Conlon, Founder and CEO of North Street Creative, a branding and design agency serving a variety of businesses going through moments of business change.
Speaker: Anna Tiomina, MBA
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
Accounting Today
JANUARY 21, 2025
If we establish a Bitcoin reserve the US taxpayer loses and the wealthiest Bitcoin holders win.
CPA Practice
JANUARY 21, 2025
The IRS recently released guidance on the income and employment tax treatment of contributions and benefits paid in certain situations under a state paid family and medical leave program, as well as the related reporting requirements.
Accounting Today
JANUARY 21, 2025
Accounting and auditing analytics software company Caseware announced that it has bought Extractly.ai, an Australian-based AI startup that offers intelligent document processing solutions.
CPA Practice
JANUARY 21, 2025
The private equity-backed top 25 accounting firm has merged in Indianapolis-based CPA firm CapinCrouse, as of Jan. 17, in what is the largest deal in CRI's 28-year history.
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Accounting Today
JANUARY 21, 2025
Accountants and other financial professionals in the U.S. are showing more signs of confidence in the economy, but optimism is waning elsewhere.
CPA Practice
JANUARY 21, 2025
State CPA Society News & Updates is a selection of recent announcements and initiatives by CPA associations in the United States and its territories.
Accounting Today
JANUARY 21, 2025
RSM formed an advisory body composed of three independent board members responsible for evaluating quality control and quality management within the firm's assurance practice.
CPA Practice
JANUARY 21, 2025
PCAOB staff continues to identify a large number of deficiencies related to the auditors examination of journal entries, the audit regulator said.
Speaker: Joe Wroblewski, Senior Sales Engineer
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
Accounting Today
JANUARY 21, 2025
TikTok and taxes; future of L.A. revenues; engagement limits; and other highlights from our favorite tax bloggers.
CPA Practice
JANUARY 21, 2025
S Corporation elections are popular among Corporation and LLC owners due to various advantages. With the election deadline approaching in March, it is a great time to get refreshed on this popular election to help advise your clients.
Accounting Today
JANUARY 21, 2025
Carr, Riggs & Ingram, a Top 25 Firm based in Enterprise, Alabama, has added CapinCrouse, a Regional Leader based in Indianapolis, effective Jan. 17, 2025.
CPA Practice
JANUARY 21, 2025
Both Eston Melton and his wife, who once worked as a secretary at Miami-Dade County Hall, are registered as lobbyists with the county.
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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