Mon.Apr 08, 2024

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Smaller payroll firms risk being left behind by automation

Accounting Insight

New research from people management and payroll platform Employment Hero shows smaller payroll providers in the UK risk being left behind thanks to a distrust of AI and automation. The survey of 495 payroll providers – including accountants, bookkeepers, and outsourced payroll firms – found just one in five (19%) thought automation of their work would “significantly increase” in the next year.

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CPA Pilot Launches AI Assistant for Tax Professionals

CPA Practice

With the increasing complexity of tax laws and regulations, tax professionals are constantly facing challenges in keeping up with the ever-changing landscape. CPA Pilot ‘s AI tax assistant leverages advanced algorithms to analyze data and offer precise insights quickly. This enables tax professionals to prioritize strategic tasks. CPA Pilot allows tax experts to focus on strategic and value add tasks for their clients and reduce the intensity of tax season.

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IRS changes how tax pros receive transcripts

Accounting Today

The Internal Revenue Service is making some changes in the way it sends tax transcripts for clients to tax professionals to beef up security.

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AI-Driven Solutions, Tableau Cloud and Pulse Set the Stage for Tableau Conference 2024

Cherry Bekaert

Today’s technologies are continuously evolving, and Tableau’s software from Salesforce is transforming how organizations optimize their data using cloud capabilities and the power of artificial intelligence (AI). Advancements to Tableau will be on full display at the Tableau Conference 2024, and Cherry Bekaert is thrilled to announce its sponsorship of this highly anticipated event on April 29 – May 1 at the San Diego Convention Center.

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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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Murph's first look at 2024 ProAdvisor App Preferences

Insightful Accountant

The formal applications submitted by Top 100 ProAdvisors contain a wealth of information. Part of that information reflects how these 'Pros' interact with apps and software. Here's my first look at the 2024 Domestic data.

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Art of Accounting: Tax season staff appreciation gifts

Accounting Today

Here are some tips for showing your appreciation to your staff in the closing days of tax season.

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More Trending

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IRS sees steady growth in Direct File free tax program

Accounting Today

The Treasury Department reported increasing usage of the Internal Revenue Service's free Direct File tax-filing system that they've been pilot testing in a dozen states this tax season.

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Survey Says: Which Group of Auditors Are Most Satisfied With Their Salaries?

Going Concern

The Association of Chartered Certified Accountants (ACCA) recently published some results from a survey of more than 6,500 finance professionals , the bulk of them auditors, from 150 countries and while the entire thing is packed with fascinating (if predictable) results, two areas in particular are crying out to be highlighted. Under the “Remuneration” section , the two sections below cover salary satisfaction.

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Accounting's past — and future

Accounting Today

Marc Rosenberg and Kristen Rampe look back at three decades of change in the accounting profession — and what lies ahead.

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Looking for fresh ideas in your business? Why not try a hackathon?

Xero

As nearly a thousand of our employees around the globe down tools this week for one of our twice-yearly hackathons, I’ve been reflecting on the purpose and benefits of this practice. Hackathons have been a fixture in the tech world for decades. But today the concept is widely utilised in fields as diverse as businesses, healthcare, education and social impact to solve some of the world’s most pressing issues.

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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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Boston mulls commercial tax hike to counter office market slump

Accounting Today

Boston Mayor Michelle Wu is seeking to raise commercial property tax rates to help protect homeowners from the brunt of the historic slump in office property values.

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Reminders for Filing a 2023 Tax Return

Insightful Accountant

The IRS has some important reminders for taxpayers who haven’t filed yet.

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SEC pauses climate disclosure rule

Accounting Today

The Securities and Exchange Commission has temporarily stayed its climate-related disclosure rule amid a rash of lawsuits.

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How to Keep Clients Protected from Scammers During and After Tax Season

CPA Practice

By Tyler Moffitt. Tax season – an already stressful time for Certified Public Accountants (CPAs) – has been made even more stressful by tax scams. While digital services have improved the tax return experience and streamlined more mundane accounting tasks so CPAs can have more time to serve their clients, cybercriminals and groups have taken advantage of the technology shift to exploit tax returns and other digital tax documents.

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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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The Future of Accounting: Emerging Trends and Technologies

Accounting Insight

New trends and technologies are revolutionising the field of accounting. Gone are the days of financial experts crouched over dusty ledgers or spreadsheets, crunching numbers. Today’s accountants wholeheartedly adopt innovative tools like accounting software, automation, and blockchain technology. Let’s take a closer look at the latest trends redefining the accounting industry.

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FASB Selects 11 Professionals to Sit on Emerging Issues Task Force

CPA Practice

The Financial Accounting Standards Board (FASB) on April 3 named 11 members to its newly reconstituted Emerging Issues Task Force (EITF). The task force, formed in 1984 , assists the FASB in improving financial reporting by identifying and developing proposed solutions to address narrowly scoped financial accounting issues within the framework of the FASB Accounting Standards Codification.

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Some Taxpayer Centers to stay open this Saturday

Accounting Today

More than 70 of the Internal Revenue Service's assistance centers will be open for walk-ins from 9 a.m. to 4 p.m.

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CPA Societies Concerned by Push to Implement BOI Reporting

CPA Practice

In a recent letter to the Department of the Treasury and the Financial Crimes Enforcement Network (FinCEN), the American Institute of CPAs (AICPA), together with 54 state CPA societies, expressed serious concerns with the rollout and push to implement FinCEN’s Beneficial Ownership Information reporting requirement without regard for the impact to the small business community.

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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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Taxpayer-Friendly Bill Stalled in Senate: Next Steps

LSLCPAs

Back in February we were happy to tell you about the House passing a bill with several taxpayer friendly provisions. That blog post is here. Unfortunately, the prospects of Senate passage are dimming. We’ll give you our reasoning and advice shortly, but first here’s a quick recap of what the bill included: An increase in. The post Taxpayer-Friendly Bill Stalled in Senate: Next Steps appeared first on LSL CPAs.

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Final Four Matches Underway in 2024 ABC Tournament

CPA Practice

Voting for the two matches that will determine who moves on to the championship game of the 2024 Accountant Bracket Challenge, presented by Accounting High, has begun and lasts through April 9. In the Education Category , 1 seed Jason Staats/Jason Daily Podcast is taking on 6 seed Bookkeeping Side Hustle. And in the Applications Category , 3 seed RightTool is up against 4 seed Gusto.

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GST Check-list you need to tick as stepping in new Financial Year

VJM Global

As we are stepping into the new Financial year, there are various compliance requirements which a taxpayer is required to do with the changing year. Any non-compliance on part of the taxpayer can lead to major disallowances or withdrawal of benefits from the taxpayer. This article list down check-list which a taxpayer is required to tick as they enter into new financial year: 1.

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CIPP – here to support you!

Accounting Insight

CIPP’s CEO, Jason Davenport, believes that now’s the time to invest in your payroll departments! ‘With legislation changing every year, it is essential to ensure your payroll team is qualified and their skills are up to date’ he said in March’s Manufacturing Today magazine. He goes onto to say ‘There are a lot of businesses out there that may not be compliant, not deliberately so, just by virtue of not understanding how and when to apply the rules.

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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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Streamlining filing of appeal by Department before ITAT, High Court and Supreme Court| Circular No. 5/2024 dated 15th March, 2024

VJM Global

Appeal against order of any authority can be filed by the party aggrieved by the order, i.e., the Assessee or the Department. Filing of appeal involves lots of cost and effort and also takes up the time of the judicial authority. Assessee files appeal after considering various factors such as amount of pre-deposit required, amount involved in dispute, time factor etc.

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The Hidden Costs of Payroll Advance Apps

CPA Practice

A new report shows that consumers who take out small loans using cash advance apps may pay triple-digit annual interest rates, experience high levels of repeat reborrowing, and incur more bank overdraft fees after starting to use the products. The report, titled “Not Free: The Large Hidden Costs of Small-Dollar Loans Made Through Cash Advance Apps,” from the Center for Responsible Lending (CRL), analyzes the transactions associated with five companies – Brigit, Cleo, Dave, EarnIn, and FloatMe –

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Use AI to stay abreast of changing tax regulations and legislation

ThomsonReuters

Jump to: The impact of AI on business protection Navigating the shifted focus on consulting Automating the traditional method It is a transformational time for businesses as artificial intelligence (AI) increasingly impacts how companies of all industries operate and serve their customers. The accounting profession is no exception. In fact, a growing number of accounting firms and corporations are taking a closer look at AI and how it can help them keep pace with tax law changes and ensure ta

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Bloomberg Tax & Accounting Unveils Next Generation Suite of Integrated Solutions, Revolutionizing the Corporate Tax Process

CPA Practice

Bloomberg Tax & Accounting has launched its next generation suite of integrated solutions that modernize the corporate tax process, from data collection to tax calculations that power key deliverables. These connected applications solve tax professionals’ day-to-day workflow issues, transforming disjointed, manual processes into a seamless workflow and providing intelligence exactly where users need it.

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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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The Chartered Institute of Payroll Professionals (CIPP) will be attending Accountex this year on stand 110!

Accounting Insight

Come and say hello to our team and see how the CIPP can support you and your team. Plus, we have an unmissable offer for Accountex delegates over the two-day event. Sign up for a CIPP membership on our stand and we will waiver the sign-up fee of £50 plus you will receive a free gift that supports your day-to-day! Membership with the CIPP also offers you great benefits such as our monthly magazine, discounts on training courses, free events throughout the year and of course, calls to our knowledg

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Solving ESG Reporting and Compliance Challenges: The Power of Outsourced Solutions

Withum

Download our white paper today and discover how alternative approaches like outsourcing could be the missing piece in your ESG puzzle. Download Guide Regulatory changes and stakeholder pressures are driving organizations to take action on ESG reporting and compliance, but navigating this complex landscape can be overwhelming. Whether it’s understanding new compliance standards or gathering accurate data for reporting, our new white paper provides valuable insights into overcoming these cha

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How to master the tax provision process

ThomsonReuters

The mounting stress experienced by tax professionals related to the tax provision process is a double-edged sword. It can cause anxiety, but may also present tremendous opportunities, according to panelists for the Thomson Reuters webinar: “ From Compliance Necessity to Strategic Advantage: How can you master the tax provision process?” “The tax profession, overall, is facing some significant changes,” says Kelley Lear , Vice President, Partnerships & Alliances, Thomson Reuters, pointing to

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179D Energy-Efficient Commercial Buildings Deduction for Not-for-Profits

Cherry Bekaert

Section 179D Energy-Efficient Commercial Buildings Deduction (section 179D) is an energy tax deduction created to incentivize the adoption of clean solutions in commercial buildings. Originally intended for the commercial industry, not-for-profit organizations are now able to take advantage of this notable tax deduction if they invest in energy-efficient improvements.

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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.