Accounting Today

MARCH 1, 2024

The lack of help means current accountants' hours and workloads can be grueling, upping the odds of mistakes and burnout.

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accountant accounted Account cpas 139

CPA Practice

MARCH 1, 2024

With a lot of unreliable information on social media, the IRS has issued list of myths and facts about 1099-K forms to help taxpayers with filing: what to do with Form 1099-K. Following feedback from partners and to help avoid taxpayer confusion, the IRS  announced in Nov. 2023, that the reporting threshold for Form 1099-K, Payment Card and Third Party Network Transactions , would not change for 2023.

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Accounting Today

MARCH 1, 2024

The IRS is planning to offer its free tax prep system around the clock next week and open it to a larger group of outside testers.

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Tax 131

CPA Practice

MARCH 1, 2024

The Internal Revenue Service has announced a new effort focused on high-income taxpayers who have failed to file federal income tax returns in more than 125,000 instances since 2017. The new initiative, made possible by Inflation Reduction Act funding, begins with IRS compliance letters going out this week on more than 125,000 cases where tax returns haven’t been filed since 2017.

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tax return Tax audit income tax 115

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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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.

Finance

Accounting Today

MARCH 1, 2024

Some generative AI scenarios and machine learning models can add incredible value even if they are right only 90% of the time.

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accountant accounted Account accounting software 129

CPA Practice

MARCH 1, 2024

A new study from Paychex, Inc. reveals the benefits and challenges of artificial intelligence in the human resources industry, and how opinions on its use and effectiveness differ between HR professionals and employees. The first in a new series of 2024 Pulse of HR Reports entitled “Balancing Tech and Touch in Human Resources,” found that 41% of employees surveyed prefer less AI involvement in their company’s HR processes, while more than half are content with the current (39%) or an increased (

Technology 115

Technology 115

CPA Practice

MARCH 1, 2024

Hosts Randy Johnston and Brian Tankersley, CPA, discuss Stanford Tax , which leverages AI to understand your clients’ prior year tax data, features broad integration options, and can import data from thousands of clients in under 10 minutes. Or use this podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.

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Technology Tax accountant accounted 111

Accounting Today

MARCH 1, 2024

Crowe collaborates with Intuit QuickBooks; Bonadio Group raises nearly $25K through firmwide Big Give campaign; and more news from across the profession.

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quickbooks 122

Going Concern

MARCH 1, 2024

As it’s the first Friday of March, today is Employee Appreciation Day. I never would have known had I not seen this tweet from Marcum because the company I work for doesn’t do things like thank us for doing our job on social media. Happy #EmployeeAppreciationDay to our incredible team! Today and every day, we celebrate the hard work and passion each of you brings to the Firm.

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public accounting accountant accounted Account 111

Accounting Today

MARCH 1, 2024

Stubbornly persistent differences between white and Black households' income and assets present financial advisors with the big-picture implications of their work.

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Tax 119

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

Technology

Randal DeHart

MARCH 1, 2024

Many small construction business owners tend to handle their accounting and bookkeeping, especially when they've just started. However, keeping track of the finance side of the business– everything from income to expenses to tax compliance– can be overwhelming. Mistakes can happen quite quickly and can have costly consequences for your business. Below are five of the most common Do-It-Yourself accounting errors you should avoid.

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Accounting Today

MARCH 1, 2024

Plus, Vic.ai announces fee transition; and other updates from the accounting tech arena.

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Technology accountant accounted Account 97

Patriot Software

MARCH 1, 2024

Busy season for accountants can be a stressful time. You work long hours—sometimes around 100 hours a week—and crunch endless numbers during tax season. Who says you can’t find some humor amidst the piles of paperwork? We know how much accountants love their funny accounting jokes.

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accountant accounted Account Tax 97

Insightful Accountant

MARCH 1, 2024

To help taxpayers with filing, the Internal Revenue Service today debunked some common myths to help taxpayers understand what to do with Form 1099-K.

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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.

Account

Accounting Today

MARCH 1, 2024

Despite suggestions to the contrary, audits remain valuable and serve a grander purpose.

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audit 81

Withum

MARCH 1, 2024

In November 2023, the Financial Accounting Standards Board (FASB) issued a new Accounting Standards Update (ASU) to improve disclosures related to reportable segments. The amendments in ASU 2023-07 “Segment Reporting—Improvements to Reportable Segment Disclosures” are effective for fiscal years beginning after December 15, 2023, and for interim periods in fiscal years beginning after December 15, 2024.

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Accounting Today

MARCH 1, 2024

The Securities and Exchange Commission has scheduled a meeting for March 6 on its long-awaited climate disclosure rule.

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accountant accounted Account 72

Going Concern

MARCH 1, 2024

FORVIS made the local news for moving the Louisville office from the ‘burbs to downtown where the real office grunts work. That’s it, that’s the story. Accounting firm FORVIS moves to top floor of PNC Tower in downtown Louisville [ WHAS ] The post FORVIS Shows Off Its New Office In Loo-Ville appeared first on Going Concern.

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accounting firms accounted Account accountant 59

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?

Finance

Withum

MARCH 1, 2024

Understanding your insurance carrier’s auto adjudication rate can offer valuable insights into the efficiency of their third-party claims processing. Have you ever inquired about your auto adjudication rate and compared it to the industry average? The response might reveal more than you expect. Is a rate below the industry average cause for concern?

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audit CPA 52

ThomsonReuters

MARCH 1, 2024

Jump to: How are S corporations taxed? How can S corporations reduce their taxes? How a corporate tax software can help filing S corporation taxes Setting up your business as an S corporation (S corp) provides several tax advantages that are not available to owners of C corporations (C corp) or Limited Liability Companies (LLCs). You may wonder how the S corporation taxation generally works.

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corporation tax Tax tax return income tax 52

CPA Practice

MARCH 1, 2024

The Financial Accounting Foundation has started its effectiveness review—which includes a public comment period—of the Private Company Council, the panel that advises the Financial Accounting Standards Board on private company matters. Formed in 2012, the PCC uses the Private Company Decision-Making Framework to advise the FASB on the appropriate accounting treatment for private companies for items under active consideration on the FASB’s technical agenda.

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accounting principles Virginia financial statements accounting standards 52

Insightful Accountant

MARCH 1, 2024

We’ve taken a look at the Top 5 Most Popular QB Talks just incase you might have missed them. If you missed them, sit back, watch a few episodes and take a break!

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Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.

accounting and finance

CPA Practice

MARCH 1, 2024

ComPsych Corporation, a provider of mental health and absence management services, says a new study finds that mental health leaves of absence increased by a third in 2023 over the prior year. This continues a years-long trend: ComPsych data shows that from 2017 to 2023, mental health related leaves of absence have increased a stunning 300%. This increase has largely been driven by female employees.

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accountant accounted Account 52

Canopy Accounting

MARCH 1, 2024

Profile: Harvest Accounting Firm , founded in August 2020, specializes in serving small family-owned and operated businesses across various industries. With a focus on businesses ranging from half a million to several million in revenue, Harvest Accounting provides tax compliance, planning, projections, and monthly bookkeeping services. The firm emphasizes building long-term relationships with its clients.

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accounting firms bookkeeping services accountant accounted 52

CPA Practice

MARCH 1, 2024

The Board of Trustees of the Financial Accounting Foundation (FAF) has appointed Lisa Washburn to the position of vice chair and has appointmented David Goldman and Deborah L. Miller, CPA, to the Governmental Accounting Standards Advisory Council (GASAC). All appointees’ terms begin March 1, 2024. Washburn will serve in the role of vice chair for the GASAC for the remainder of her final term on the GASAC, which will conclude on December 31, 2024.

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financial accounting accounted accountant Account 52

FraudFiles

MARCH 1, 2024

A divorcing couple has a premarital agreement, so everything is simple when it comes to dividing assets and paying maintenance, right? Of course not. Premarital agreements are rarely simple, and they become even more complicated when the language in the agreement is imprecise. This high net worth divorce case study provides some important insights into [.

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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!

Technology

Martin Quinn

MARCH 1, 2024

While we hear a lot about tax avoidance and tax evasion today, I think it is something we always have had and probably always will. To be clear avoidance is using legal means, evasion is the illegal one. I can recall as a young kid being told by my father that old houses had less or smaller windows due to a window tax – see here [link]. Or here is another example, a curved brick wall which used less bricks – and it’s also quite nice to look at [link] Both of these examples essentiall

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CPA Practice

MARCH 1, 2024

By Lia Coniglio, Esq. – For Payroll.org From Payroll.org: An updated chart of State Taxable Wage Bases for 2021 to 2024 (as of February 7, 2024) may be downloaded from the Payroll.org website. To access the chart from the Payroll.org home page select “Compliance” and then “State Unemployment Wage Bases” under “Overview.” State unemployment insurance taxes are based on a percentage of the taxable wages an employer pays.

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Tax 40

Going Concern

MARCH 1, 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.

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Accounting Today

MARCH 1, 2024

The president will advocate plans to increase taxes on the wealthy and corporations as well as to lower prescription drug prices in his speech next week.

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Tax tax planning corporation tax 121

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.

Finance