CPA Practice

APRIL 9, 2024

In an email to tax professionals on April 5, the IRS said it’s making changes that will impact how practitioners obtain a client’s tax transcripts, as part of the agency’s efforts to combat identity theft and protect taxpayers’ personal information. Starting April 8, tax professionals must now call the Practitioner Priority Service (PPS) to request transcripts to be deposited into their Secure Object Repository (SOR).

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Tax accountant Account accounted 122

TaxConnex

APRIL 9, 2024

The common definition of dietary supplements and vitamins is a non-food item that includes a vitamin, mineral, herb, botanical, amino acid or dietary substance. For purposes of incurring sales tax in any state, that essentially translates into “sometimes.” Sometimes a state considers supplements and vitamins as drugs, groceries or food. Sometimes these products are taxable tangible personal property, sometimes not.

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Sales West Virginia Tax Virginia 256

BurklandAssociates

APRIL 9, 2024

HR recordkeeping is one of the last things most startup founders want to think about, but non-compliance can lead to major fines, reputation damage, and due diligence pitfalls. The post Navigating HR Compliance: Recordkeeping Essentials for Startups appeared first on Burkland.

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Going Concern

APRIL 9, 2024

The annual 100 Best Companies to Work For list from Fortune and Great Place To Work® is out and once again a lil firm from Michigan has the honor of being best-er than the accounting firms that follow it. Everyone, let’s congratulate Plante Moran for another impressive showing and coming in 12th on the 2024 list. This year, they only narrowly beat out Deloitte again.

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Michigan accounting firms accountant Account 127

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.

Account

Accounting Today

APRIL 9, 2024

At 90,315,000, the number of individual returns received this tax season finally surpassed the same period last year, up 0.2% as of March 29, 2024.

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Tax 137

CPA Practice

APRIL 9, 2024

By Irana Wasti. The adoption of a new product or technology tends to follow a familiar cycle. First, there is skepticism about whether it will live up to the hype. A few proven use cases later, people are talking about whether it will enhance or upend their professional lives. Before we reach the final stage where the technology is widely adopted, we pass through a period of uncertainty, where we wonder if this technology will be too helpful — to the point of being a threat to job security.

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Technology accountant Account accounted 119

CPA Practice

APRIL 9, 2024

By Oren Koren Tax season is underway, which means cyber criminals are hard at work. With the plethora of highly sensitive personal and financial data being shared between firms and clients, it’s the perfect time for bad actors to strike, especially as the April 15th deadline inches closer and CPAs push to get more done with less time. With an increase in activity from all sides – both to citizens who are filing taxes as well as CPAs looking for new clients – it’s critically important to underst

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cpas Tax cpa firm tax return 118

Going Concern

APRIL 9, 2024

I think I have something interesting for you today. Fresh academic research has found that audit seniors are more likely to offer better constructive feedback and coaching to their juniors via review comments if the seniors think they’ll be working with that staff again. The paper “ Coaching Today’s Auditors: What Causes Reviewers to Adopt a More Developmental Approach?

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CPA Practice

APRIL 9, 2024

By Leada Gore, al.com (TNS) Bogus claims on social media are nothing new. But when it comes to taxes, misleading information on social media can lead to financial or even legal problems, the IRS warns. Social media—things like Facebook, Instagram and TikTok—can be used to circulate “wildly inaccurate tax advice,” the agency said. Some claims involve urging people to misuse common tax documents like Form W-2 or more obscure ones like form 8944, a technical e-file form not commonly used by most fi

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Tax tax return tax preparation payroll 116

Accounting Today

APRIL 9, 2024

The tax prep giant settled a proposed class-action suit that said it schemed to prevent employees from moving between corporate and franchisers.

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Tax tax preparation 128

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.

Account

CPA Practice

APRIL 9, 2024

The IRS last week addressed the federal income tax treatment of amounts paid for the purchase of energy-efficient property and improvements. Taxpayers who receive “rebates”—described in 2022’s Inflation Reduction Act as performance-based incentives and electrification product subsidies—for the purchase of energy-efficient homes won’t include the value of those rebates as income on their tax returns, according to Announcement 2014-19 which was issued by the IRS on April 5.

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income tax tax return Tax Sales 115

Accounting Today

APRIL 9, 2024

A recent poll of U.S. and U.K. accountants has found that 59% say they use AI at work, and through AI have saved about 30 hours a week.

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accountant Account accounted Technology 131

Withum

APRIL 9, 2024

Withum is proud to announce that Chris has earned a spot on the Inside The Valley’s list for the second consecutive year. Chris is Partner-in-Charge of Withum’s Los Angeles office and has over 24 years of experience in the industry specializing in assurance and business consulting services to emerging and middle-market companies. As a prominent networker and influencer, Chris reaches a broad professional audience through his work as the Social Media CPA and as an active member of ProVisors and t

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CPA 111

Accounting Today

APRIL 9, 2024

The Public Company Accounting Oversight Board voted to propose an extensive set of new reporting requirements to impose on auditing firms.

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audit accountant Account accounted 128

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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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Cherry Bekaert

APRIL 9, 2024

On campuses around the country, the name, image and likeness (NIL) policy is revolutionizing the way student-athletes can obtain benefits while attending a college or university. As of July 2021, student-athletes can enter NIL deals if they comply with state law and the NCAA’s rules. Essentially, NIL allows college athletes to monetize their personal brand by profiting from their name, image and likeness through various opportunities such as endorsements, sponsorships, social media posts and mor

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Sports Government 111

CPA Practice

APRIL 9, 2024

By Nellie Akalp. As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. The ever-changing complexities of payroll taxes can often seem overwhelming, especially for business owners, so we’ve compiled an easy guide you can share with them.

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payroll tax West Virginia payroll cpas 110

Mark Lee

APRIL 9, 2024

When we go to see our local GP we expect them to fulfil 3 primary roles. We need them to diagnose our problems, to prescribe solutions and to care for us. There is a direct parallel with the role of accountants. And, as this decade continues to generate new tools and resources, so there is the prospect of patients/clients adopting AI solutions to address 2 of those 3 roles.

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accountant Account accounted tax return 104

CPA Practice

APRIL 9, 2024

A new study by WalletHub revealed that residents of New York state are burdened by taxes the most among the 50 states, while Alaska residents have the lowest tax burden. Unlike tax rates, which vary widely based on an individual’s circumstances, tax burden measures the proportion of total personal income that residents pay toward state and local taxes, according to WalletHub.

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Rhode Island Alaska New Hampshire Tax 105

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

Sales

KROST

APRIL 9, 2024

KROST offers a comprehensive suite of buy-side services tailored to meet the unique needs of fund managers and investors. Our team provides dedicated support throughout the Mergers & Acquisitions transaction process, from deal sourcing and quality of earnings reports to valuations, tax planning, and transaction structuring. We leverage our industry knowledge and experience to empower Read the full article.

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tax planning Tax 87

Xero

APRIL 9, 2024

If you or your clients are looking for ways to grow profits, drop prices or pay staff more, then one strategy is to lift productivity in your business. But what is productivity exactly (hint: it’s not about working longer hours), and how can you lift it in your small business or practice? What is small business productivity? Small business productivity is the measure of how much value a business can produce using the resources it has at its disposal (ie staff, capital, materials).

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Technology bookkeeping Sales Government 82

Insightful Accountant

APRIL 9, 2024

New QuickBooks Online Payroll feature lets you quickly create and assign payroll items to multiple employees.

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payroll quickbooks 105

Accounting Today

APRIL 9, 2024

The free tax program will now import a taxpayer's information from the previous year, as a report finds the program could cost the IRS considerably more than the estimated $249 million per year to maintain.

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Tax 75

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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

APRIL 9, 2024

Reid, ranked as one of the top 20 accounting firms on Long Island, has partnered with Tampa, FL-based accounting platform Crete Professionals Alliance. Established in 2023 to provide an alternative to the traditional exit options for accounting and professional services firm owners, Crete PA partners with firms across the country, keeping their leadership, brand, and culture independent while providing access to its national back-office resources and financial backing.

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cpas cpa firm accounting and finance CPA 59

Accounting Today

APRIL 9, 2024

The Internal Revenue Service and the Treasury Department issued proposed rules for the stock buyback tax for large corporations.

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Tax corporation tax 94

Withum

APRIL 9, 2024

In this article, we will explore the pivotal role of Enterprise Resource Planning (ERP) systems in preparing businesses for mergers and acquisitions (M&A). M&A transactions cannot be effective if an ERP strategy is not well thought out and implemented. ERP is a system that integrates different business functions and processes, including accounting, finance, sales and supply chain management, into one platform.

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accounting and finance Finance Sales accountant 59

Accounting Today

APRIL 9, 2024

Registrations are open for the 2024 Accounting MOVE Project, with a focus on private equity's impact on accounting career paths.

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accounting careers accountant Account accounted 83

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.

Anders CPA

APRIL 9, 2024

Missouri Senate Bill 190, signed into law by Governor Mike Parson in 2023, aims to provide tax relief for seniors by expanding deductions for retirement and Social Security benefits. Under current law, eligible taxpayers can deduct a percentage of these benefits based on their filing status and adjusted gross income. This new legislation will allow all taxpayers, regardless of income level or filing status, to take advantage of the maximum deduction starting in tax year 2024.

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Missouri Tax Legal CPA 59

Withum

APRIL 9, 2024

During the acquisition of a dealership, the purchaser receives guidance and support from various professional sources. Once the deal is finalized, that solid support system often disappears, and the purchaser is left on their own, facing numerous uncertainties and unanswered questions. In this on-demand webinar, Withum and the Massachusetts Auto Dealers Association identify common issues that dealers often face after they purchase a dealership and how to address them to ensure a smooth transitio

Massachusetts 52

Massachusetts 52

Nancy McClelland, LLC

APRIL 9, 2024

For years, we have stressed the importance to our clients of making quarterly estimated tax payments. And unlike many tax preparers, we also do bookkeeping, accounting, and consulting for our small business owners — so we’ve also encouraged them to have us do a quarter-by-quarter calculation of how much to pay. There were many reasons for this: · Making sure the client had their books up-to-date and reconciled for the quarter, so they can be used for real-time managerial decisions; ·

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Illinois Tax tax preparation tax return 52

Withum

APRIL 9, 2024

During the acquisition of a dealership, the purchaser receives guidance and support from various professional sources. Once the deal is finalized, that solid support system often disappears, and the purchaser is left on their own, facing numerous uncertainties and unanswered questions. Already Registered? Click Here View On-Demand Webinar In this on-demand webinar, Withum and the Massachusetts Auto Dealers Association identify common issues that dealers often face after they purchase a dealershi

Massachusetts 52

Massachusetts 52

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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.