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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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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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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Less Stress, More Success: Accounting Best Practices & Processes for 2025

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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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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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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PCAOB adopts far-reaching metrics and reporting standards

Accounting Today

The Public Company Accounting Oversight Board voted to adopt new requirements to report on various metrics for the firm and its engagements.

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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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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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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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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

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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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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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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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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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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Back to Basics with Reconciliations

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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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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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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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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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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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

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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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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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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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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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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Harness the Potential of Your Enterprise Knowledge

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.

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HubSync Ranked No. 221 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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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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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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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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Solve Your Firm's Automation Complexities Once and For All

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.

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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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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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House Tax-Exempt Crackdown Bill Passes Despite Democrat Defections

CPA Practice

By Caitlin Reilly CQ-Roll Call (TNS) WASHINGTON — The specter of the incoming Trump administration loomed large Thursday as Democratic support evaporated for a House bill that would give the IRS greater authority to revoke the tax-exempt status of nonprofits supporting terrorist organizations. Only 15 Democrats voted for the bill, which passed 219-184, a drop from the 52 who voted for it just last week and an even sharper decline from the 179 who supported a similar bill in April.

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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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It Takes Two to Tango

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.