Thu.Nov 21, 2024

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How to Choose the Best Nonprofit Accounting Software

Accounting Seed

Nonprofit organizations strive to create meaningful change in their communities. To achieve their goals effectively, they require organized data, streamlined workflows, and affordable tools. Accounting software is one of the most valuable tools a nonprofit can have, as it allows team members to shift their focus from tedious data management to what truly matters: serving people and making an impact.

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The pre-Black Friday outlook on ecommerce

TaxConnex

Black Friday for retail, the kickoff day for holiday shopping, started almost half-century ago with long lines outside brick-and-mortar stores and the dawn unlocking of doors (and the occasional injury of a shopper in the stampede). Then came Cyber Monday after Thanksgiving, as ecommerce – initially with such tactics as flash sales, mostly possible only online – began claiming a bigger slice of the retail sales.

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Jackson Hewitt looks to hire thousands for tax season

Accounting Today

The tax prep giant is once again looking to bring on close to 20,000 seasonal workers.

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The Secret Weapon for SMBs Thriving with CFO Support Services

AccountingDepartment

In the dynamic business world, financial strategy plays a pivotal role in determining success. But what if your small or medium-sized business (SMB) can't afford a full-time financial executive? Enter CFO Support Services —a game-changer for SMBs and startups alike. This blog uncovers the essence of a CFO support service provider, the immense value they bring, and why your business might need one.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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Tough choices ahead in the federal, state and local tax landscape

Accounting Today

Who controls how many branches of government is having repercussions at every level.

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An Expert’s Guide to the Year-End Close Process

Withum

As the year winds down, it’s essential for businesses to take a proactive approach to their year-end accounting and financial reporting processes. A well-executed year-end close process ensures that accounting records present the most accurate picture for the end user, whether it be internal management, investors or your accounting firm. Closing the books in a timely and systematic way will allow a business to wrap up the previous year and set a strong foundation for the upcoming year.

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The Powers That Be Are Getting Desperate For People to Do This Experience and Learn Thing

Going Concern

The AICPA’s Experience, Learn & Earn (ELE) Program — controversial among some educators for reasons explained in depth here — required accounting employers to sign up for the program when first launched last year but has now opened the program up to “non-affiliated” graduates as long as the graduate is employed full time.

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Private equity isn't a silver bullet

Accounting Today

PE brings a lot to accounting, but it's not for everyone, say experts at Accounting Today's PE Summit.

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New Form for Section 83(b) Elections

Withum

The IRS released new Form 15620 to simplify and standardize elections under section 83(b) on November 7, 2024. This new form makes the process more accessible for taxpayers who previously had to send a letter to the IRS in accordance with Rev. Proc. 2012-29. While this new form does not change any of the requirements from Rev. Proc. 2012-29, it incorporates and standardizes the information required by it.

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IRS to accept duplicate dependent returns with an IP PIN

Accounting Today

The Internal Revenue Service will begin accepting e-filed tax returns that contain dependents who have already been claimed on another taxpayer's return.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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BlackLine Launches Studio360 Platform

CPA Practice

Accounting and finance automation solutions provider BlackLine has unveiled the BlackLine Studio360 Platform, which unifies financial operations at scale, streamlines processes, and delivers actionable insights across all financial functions. Designed for accounting and finance professionals, the Studio360 Platform includes five key components—Integrate, Orchestrate, Visualize, Blueprint, and Control—each built to address the complexities facing the office of the CFO, BlackLine said in a media r

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Gary Gensler plans to step down from SEC in January

Accounting Today

The SEC chair's ambitious agenda drew fierce resistance from Wall Street and the crypto industry.

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Intuit Offering new 'Level 1' Certification Prep V-con

Insightful Accountant

Intuit will provide a free virtual conference with live training for the new 'Level 1' QuickBooks Online ProAdvisor Certification.

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Can a multistate business entity dissolve in one state but continue operations in others?

Accounting Today

There are ways the business owners can continue to operate in the other states.

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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Murph's Payroll Solutions Comparison

Insightful Accountant

December 12 is the upcoming date for our next 'Be Insightful' Premium Content App Comparison covering twelve Payroll Solutions.

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Top Remote Accountants of the Week | November 21, 2024

Going Concern

Are you having trouble finding remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can assist you! With our Always-On Recruiting service, you can access a pool of top remote accounting candidates without any upfront costs. Sign up now to view the complete candidate list and connect with potential hires.

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Investigation collaborator stands trial over €428M tax scheme

Accounting Today

Kai-Uwe Steck, one of the main collaborators with German prosecutors in their vast Cum-Ex probe, appeared in a Bonn court.

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PCAOB Rule Change Creates Procedure to Revoke Delinquent Firms’ Registrations

CPA Practice

Registered audit firms that don’t file annual reports with the Public Company Accounting Oversight Board (PCAOB) and have neglected to pay their required annual fees for two consecutive years could be stripped of their registrations under a new rule amendment approved by the U.S. audit regulator on Nov. 14. The amendment establishes a new procedural mechanism that will enable the board to address situations in which a registered firm has ceased to exist, is nonoperational, or no longer wishes to

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Building a Business Case for Finance Automation

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.

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The impact of the 'racial will gap' on wealth

Accounting Today

A new study shows how the estate planning work of financial advisors carries a direct connection to reducing disparities over time.

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Starting in 2025, the IRS Will Accept Duplicate Dependent Returns With an IP PIN

CPA Practice

Beginning with the 2025 tax filing season, the IRS will accept e-filed Forms 1040, 1040-NR, and 1040-SS even if a dependent has already been claimed on a previously filed return as long as the primary taxpayer on the second return includes a valid Identity Protection Personal Identification Number (IP PIN), the tax agency said on Nov. 21. This move will help prevent tax refund delays next filing season, the IRS said.

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TIGTA assesses IRS efforts to respond to Oct. 7 attack in Israel

Accounting Today

The Treasury Inspector General for Tax Administration issued a report Thursday on the Internal Revenue Service's response to the Oct. 7, 2023 attack on Israel by Hamas.

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Bipartisan Bill Would Boost Monthly Social Security Benefits for 2.5M Americans

CPA Practice

By Erik Bascome Staten Island Advance, N.Y. (TNS) Nov. 20—Millions of Americans could soon receive higher monthly Social Security benefits courtesy of new federal legislation. Last week, the U.S. House of Representatives overwhelmingly passed the Social Security Fairness Act, a bipartisan piece of legislation that would increase benefits for roughly 2.5 million Americans who are currently penalized for their pensions.

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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Warranties as a Win-Win Solution: 3 Ways that Warranties Help Tax Planners and Their Clients

CTP

A proactive tax plan can be a major money-saver for taxpayers. But for new or prospective clients, your first tax plan can feel like a leap of faith—and a costly one at that. Taxpayers who have not yet experienced the benefits of working with a Certified Tax Planner might be wondering if the time and money they are investing will actually pay off. One way to lower the stress level and earn the trust of new tax clients is by using warranties.

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HubSync Ranked 212th Fastest-Growing Company in North America on 2024 Deloitte Technology Fast 500

CPA Practice

HubSync has been ranked 212th on the Deloitte Technology Fast 500 , a ranking of the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America, now in its 30th year. HubSync grew 550% during this period. HubSync’s CEO John McGowan credits innovation and partnering with his clients with the company’s 550% revenue growth.

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Key Figures 2024 & 2025

LSLCPAs

As we approach the end of the year, we want to provide you with essential tax planning figures for 2024 and a preview for 2025. If you need any further assistance or clarification, please do not hesitate to contact us. We are always happy to help you with your tax needs. Download PDF: 2024 – 2025. The post Key Figures 2024 & 2025 appeared first on LSL CPAs.

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CohnReznick Expands Footprint in Philippines

CPA Practice

CohnReznick LLP , one of the leading advisory, assurance, and tax firms in the United States, today announced that, in support of its global workforce strategy, it has substantially increased its operations in the Philippines, through its wholly owned affiliate, CohnReznick Philippines, Inc. This includes growing the CohnReznick team there and securing larger office space in anticipation of future growth.

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

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.

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Treasury Releases Final Regulations for Certain Repatriations of Intangible Property

Withum

The U.S. Treasury released final regulations for Section 367(d) on October 9, 2024, providing guidance on the treatment of previously expatriated intangible property where the transfer was subject to Section 367(d) and subsequently repatriated back to the United States. The final regulations apply to IP repatriations occurring on or after October 10, 2024.

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The Top Toys and Gifts for the 2025 Christmas and Holiday Season

CPA Practice

As a record number of people (183.4 million) are expected to shop during the Thanksgiving holiday weekend , a new survey from the National Retail Federation and Prosper Insights & Analytics reveals the most popular toys and gifts consumers plan to purchase this holiday season. “The holiday season is in full swing and while many consumers have made progress on their shopping lists, most shoppers will make the majority of their purchases over the coming weeks,” NRF Vice President of Industry a

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Can You Be Confident in Your Tax Planner? 3 Reasons a Tax Plan Warranty Can Make All the Difference

CTP

Investing in a tax plan can feel like a risk for taxpayers who are used to filing their own tax returns or focusing on basic compliance. In theory, you may see the benefits of a proactive approach where you implement strategies that will result in tax savings years down the line. But when it comes to taking the leap, you may find yourself held back by hypotheticals: What if the tax strategies don’t work?

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Retailers Tell Senate Credit Card ‘Swipe’ Fees are ‘Adding Inflationary Pressure to the U.S. Economy’

CPA Practice

Growing credit card swipe fees are driving up costs for retailers and prices for consumers but could be reined in by passage of the Credit Card Competition Act, the National Retail Federation recently told the Senate Judiciary Committee. “Arbitrarily high swipe fees are adding inflationary pressure to the U.S. economy and prevent retailers and other merchants from growing their businesses,” NRF Senior Vice President for Government Relations David French said.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

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.