Summit CPA

JUNE 13, 2024

What is the ideal client concentration? How high is too high of a concentration? What do you do if your concentration is too high? Find out in this post.

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TaxConnex

JUNE 13, 2024

It seems like yesterday when only physical nexus ignited a company’s sales tax obligations in a state. Six years ago this month, that changed with one court decision. These days selling a certain amount remotely into a state or other tax jurisdiction (one that has a sales tax, anyway) means your company must collect and remit sales tax – a complication of doing business that’s probably going to only get more complicated in the years ahead.

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CPA Practice

JUNE 13, 2024

By Daniel F. Rahill, CPA/PFS, JD, LL.M., CGMA. The Tax Cuts and Jobs Act of 2017 (TCJA) brought about substantial changes to the tax landscape, significantly increasing the lifetime estate and gift tax exemption amounts ($13.61 million for individuals and $27.22 million for married couples). However, these exemption amounts are set to expire on Jan. 1, 2026, and—absent new legislation before then—will revert to approximately $7 million for individuals and $14 million for married couples, subject

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Accounting Today

JUNE 13, 2024

The Corporate Transparency Act, ostensibly meant to address scams and other crimes, has ironically opened the door to new kinds of scams directed at small-business owners.

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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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Going Concern

JUNE 13, 2024

At least they said “attractive” and not “sexy.” According to a press release they put out yesterday , EY plans to invest a billion dollars over three years on talent and technology “to revolutionize the experience of early career accounting professionals and improve the attractiveness of the profession.” Let’s see what exactly they think that looks like: This investment includes a significant increase in early career compensation, artificial intelligence

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CPA Practice

JUNE 13, 2024

On Thursday, June 13, as part of the Women’s Leadership Summit at MEGA 2024, the FICPA presented its annual “Women to Watch Awards”, honoring Experienced Leader Cristina Hale and Emerging Leader Carmen Velasquez. “The Women to Watch Awards recognize and celebrate the women among us who exemplify leadership excellence,” said FICPA President & CEO Shelly Weir.

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Going Concern

JUNE 13, 2024

ConvergenceCoaching has opened up responses for their Anytime, Anywhere Work survey and you are invited to contribute. The survey is open to either of these: The Firm Leadership portion of the survey is designed for completion by one person for each accounting and consulting firm — usually the Managing Partner or a top HR professional. Those leaders are asked to provide information about their firm’s remote and flex work practices.

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Insightful Accountant

JUNE 13, 2024

The 2025 ProAdvisor Awards process will launch earlier than ever, so I can think of nothing to help motivate and prepare you than Matt Fulton's article setting forth the "right stuff" to becoming the 'Best of the Best.

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CTP

JUNE 13, 2024

In a recent blog , we discussed the tax implications of converting a residence to a rental property. Once that rental property begins generating income, what else does a taxpayer need to consider for effective tax planning? First, real estate rentals classify as either long-term or short-term rentals. Long-term rentals typically qualify for traditional real estate tax deductions from mortgage interest, property taxes, insurance, and property management fees.

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Accounting Today

JUNE 13, 2024

Extreme and outlandish; General nonsense; tat's all, folks; and other highlights of recent tax cases.

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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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AccountingDepartment

JUNE 13, 2024

When it comes to compliance with government regulations, navigating the intricacies and nuances of DCAA accounting is essential for any government contractor. DCAA stands for Defense Contract Audit Agency, a branch of the Department of Defense that is tasked with auditing and evaluating proposal and contract costs for the government.

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Accounting Today

JUNE 13, 2024

The annual list recognizes top leaders from accounting firms across the country.

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SkagitCountyTaxServices

JUNE 13, 2024

In conversations with Skagit County business owner friends recently, it seems hiring has been a struggle bus (can you relate?). There are qualified applicants showing up in their resume stacks. But, what’s more difficult to look for in that pile is the right combo of qualified and quality to fill out the position. For a lot of them, no one’s really standing out from the pack.

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Accounting Today

JUNE 13, 2024

From updates in mortgage-related court cases, to developments in AI and policy, here are the most-read stories from National Mortgage News over the past week.

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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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Xero

JUNE 13, 2024

We’ve just wrapped Xerocon London 2024, and what a magical two days it’s been. Although Xerocon is a chance for us to update everyone about the industry trends we’re seeing, and the new product features we’ve been building, it really is about the people. Bringing our community together and experiencing that magic in person, is priceless. Day two brought more insightful keynotes, breakout sessions and activity from our exhibitors.

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Accounting Today

JUNE 13, 2024

The Tax Court approach in a recent case may produce a split among the circuit courts, and the Supreme Court may take a case to resolve the split.

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Going Concern

JUNE 13, 2024

Struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of skilled remote accountants without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires. TAX CANDIDATES FTE Senior Tax Accountant / Manager | Candidate ID #21844350 Certifications: CPA Education: BSBA Accounting, MS Accounting Experience (years): 6+ years i

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Accounting Today

JUNE 13, 2024

Sixty-three percent of companies say they will be ready to report under the EU's Corporate Sustainability Reporting Directive, but many don't know how, a new PwC survey says.

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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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CPA Practice

JUNE 13, 2024

The Public Company Accounting Oversight Board (PCAOB) on June 12 is seeking to replace an outdated auditing standard on substantive analytical procedures, used by auditors to compare an amount recorded by the client to an amount expected by the auditor to determine whether there’s a misstatement. The current AS 2305 was originally put in place by the AICPA in 1989 and hasn’t changed much since its adoption on an interim basis by the PCAOB in 2003.

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Accounting Today

JUNE 13, 2024

The Public Company Accounting Oversight Board's amendments will make it easier to hold auditors accountable for violations, among other things.

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CPA Practice

JUNE 13, 2024

A prestigious executive management course on sustainable financial strategy, jointly developed by Saïd Business School at the University of Oxford and AICPA & CIMA, now offers continuing professional education (CPE) credit for CPAs. The six-week course, ESG and Sustainable Financial Strategy , is designed to give accounting and finance professionals the skills necessary to lead their organization’s response to sustainable business priorities.

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Accounting Today

JUNE 13, 2024

These eight hurdles stand between you and a thriving accounting practice — and they can all be overcome.

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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.

CPA Practice

JUNE 13, 2024

The Public Company Accounting Oversight Board (PCAOB) on June 12 updated a nearly 20-year-old rule on auditor conduct, making it easier for the audit regulator to hold associated persons of an accounting firm accountable when their negligence “directly and substantially” causes the firm to violate auditing standards. The update to PCAOB Rule 3502, Responsibility Not to Knowingly or Recklessly Contribute to Violations , which was enacted in 2005, changes the threshold for liability for those who

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Insightful Accountant

JUNE 13, 2024

The cannabis industry anticipates a major change with the DEA's expected rescheduling of cannabis from Schedule I to Schedule III. This shift could have significant tax implications for businesses, potentially impacting IRC section 280E.

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Tax 59

Accounting Today

JUNE 13, 2024

Charge your clients based on the outcomes you achieve for them, not your inputs.

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LSLCPAs

JUNE 13, 2024

Outsourced accounting services are the talk of the town in the business world, and it’s easy to see why. These services offer a transformative approach to managing finances, providing businesses with a host of benefits that can drive growth and efficiency. From significant cost savings to strategic financial insights, here are ten compelling reasons to.

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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.

SchoolofBookkeeping

JUNE 13, 2024

Hold onto your wallets, folks! QuickBooks just announced they're hiking up their prices. Here's a breakdown of their justifications and the key dates you'll need to know. Why the price increase? Apparently, it's all about giving us more AI, automation, and streamlined workflows. QuickBooks wants us to believe this is for our benefit, saving us time and helping our clients get paid faster.

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CPA Practice

JUNE 13, 2024

Hosts Randy Johnston and Brian Tankersley, CPA, review Laurel.ai , automated timekeeping solution that uses real AI to not just track hours, but also to unlock a new level of profitability and efficiency. 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.

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Canopy Accounting

JUNE 13, 2024

What does it mean to unclunk your firm? Join a special BDO demonstration of Canopy's practice management solution to find out. The demo will feature insights and reactions from BDO member Lera Kooper of Accountability Solutions, who is also a Canopy customer.

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accountant Account accounted 52

CPA Practice

JUNE 13, 2024

Global Relay , the leading provider of electronic communication compliance and archiving solutions, released its second annual Industry Insights Report: Compliant Communication 2024 , discovering that despite a decrease of 15% year-over-year (YoY), WhatsApp bans prevail as the most-commonly used solution (43%) to marshal internal business communications.

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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.