Tue.Oct 22, 2024

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When Venture Capital Flies High, Accounting Services Crash Hard

AccountingDepartment

In the fast-paced world of small and medium-sized businesses (SMBs) and startups, reliable accounting services are crucial. Recently, a new trend has emerged—accounting firms operated with the help of venture capital funding. On the surface, these services may appear attractive due to their low costs and initial benefits. However, SMB owners, entrepreneurs, and finance professionals need to tread carefully.

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Grant Thornton Expands Workday Practice Leadership Team

CPA Practice

Grant Thornton, a provider of end-to-end audit, assurance, tax and advisory services, has appointed Greg Davis to lead the firm’s Workday practice. Grant Thornton has also enhanced its Workday leadership team with the addition of Andrew (Drew) Houts, who joins the firm with nearly a decade of Workday ecosystem leadership experience. Since 2019, Grant Thornton has teamed up with Workday , a leader in enterprise cloud applications for finance and human resources.

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Understanding Nevada LLC Taxes

inDinero Tax Tips

You may have heard that Nevada LLC taxes are favorable to business owners. This is true if you plan to do business there, but keep in mind it’s rarely advantageous for out-of-state businesses to incorporate somewhere other than their home state; taxes accrue where you do business, not where you incorporate. In this article, we’ll cover everything you need to know about Nevada LLC taxes, from pass-through treatment to self-employment, sales, and payroll taxes.

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AICPA Asks Treasury for Guidance on Marijuana Law Changes

CPA Practice

In May of 2024, the Department of Justice (DOJ) issued proposed language that would reschedule marijuana from a Schedule I controlled substance to a Schedule III controlled substance, subject to section 280E of the Internal Revenue Code. The American Institute of CPAs submitted a letter to the Department of the Treasury and the Internal Revenue Service (IRS) requesting guidance for cannabis businesses in advance of the impending transition away from engaging in a trade or business that subjects

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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.

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Achieve Sustainable SaaS Growth with the Rule of 40

BurklandAssociates

The Rule of 40 helps you balance rapid growth with long-term profitability as you scale your SaaS startup. The post Achieve Sustainable SaaS Growth with the Rule of 40 appeared first on Burkland.

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Forvis Mazars Unveils Sales and Use Tax Estimation Platform

CPA Practice

Top 10 accounting firm Forvis Mazars has launched SALT Explorer, a sales and use tax estimation platform for its construction industry clients navigating their state and local tax (SALT) challenges. SALT Explorer provides sales and use tax estimates for incorporation into project bids, helping reduce the risk of sales and use tax exposure and enhancing financial performance, the firm says in a media release.

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IRS Updates Tax Brackets, Standard Deductions For 2025

CPA Practice

The IRS on Oct. 22 released updated tax brackets and standard deductions for 2025. While the actual percentages of the tax brackets will remain the same until next year because of the Tax Cuts and Jobs Act of 2017, the income levels of each bracket change annually to adjust to inflation. These tax rates are for the 2025 tax year covering tax returns that will be filed in 2026.

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IRS adjusts tax amounts for inflation for 2025

Accounting Today

The Internal Revenue Service issued its annual inflation adjustments for tax year 2025, including changes in the standard deduction, marginal rates, tax credits and more.

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AICPA Offers Financial Tips to Recent Hurricane Victims

CPA Practice

As residents across the southeast continue to pull their lives back together following the devastating destruction of Hurricanes Helene and Milton, the personal financial planning experts at the American Institute of CPAs are offering tips to help with financial well-being and planning for the future. “Victims have a lot of things to sort through following a major disaster, including getting their financial house in order,” says Dan Snyder, director, Public Accounting (Personal Financial Plannin

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After the election: What's next

Accounting Today

Regardless of the election results, we will see some tax legislation next year, says one expert.

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Forecasting Failures Are Costly: Here's How To Fix Them

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.

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Finish Strong: 9 Year-End Marketing Tips Every Accounting Firm Needs

CPA Practice

As the year ends, you have a unique opportunity to engage clients and showcase your expertise with year-end marketing initiatives. Here are some effective year-end marketing tips to help you to make the most of the season. Promote Year-End Tax Planning Services Offer a blog series, webinars, or video content focused on year-end tax planning strategies.

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Thomson Reuters acquires AI specialist Materia

Accounting Today

Materia's platform can answer accounting queries in plain language and embed citations so users can verify the information.

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Mastering U.S. Federal Payroll Compliance

CPA Practice

In this white paper, we break down the key federal payroll laws, explore important compliance insights, highlight the role of technology, and provide practical tips for maintaining compliance. Understanding and compliance with Federal Payroll Laws including ERISA, ACA, FLSA, and CCPA Insights into core compliance components such as EIN, FICA, tax withholding, and employee classifications How leveraging payroll technology can greatly assist in maintaining compliance Practical tips for payroll pro

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PCAOB sanctions, bans firm and bars partner

Accounting Today

The Public Company Accounting Oversight Board imposed a $50,000 fine, revoked the firm's registration and barred its partner.

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

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

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From Overlooked Liability to Optimized SaaS Sales Tax Compliance in Avalara

Cherry Bekaert

A B2B subscription-based billing and financial operations Software-as-a-Service (SaaS) company (the Company) engaged Cherry Bekaert tax professionals to file prior returns and close accounts. In reviewing the Company’s data, the Firm’s Sales & Use Tax team realized its tax compliance software was not properly set up according to current sales tax regulations for SaaS companies.

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Accountants more pessimistic about global economy

Accounting Today

Global confidence among accountants globally declined in the third quarter to its lowest level since 2023, although confidence increased in North America.

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EY’s Global Revenue Up Only 3.8% to $51.2 Billion in 2024

CPA Practice

A year after posting nearly double-digit revenue growth , EY said on Oct. 17 that its global revenue increased 3.8% in U.S. currency terms in 2024 to $51.2 billion for the year ending June 30. That represents 3.9% revenue growth in local currency terms, the Big Four accounting firm said. In 2023, EY hauled in revenue of $49.35 billion globally, an increase of 9.3% in U.S. currency terms and 14.2% in local currency terms from $45.4 billion in 2022.

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In the blogs: Profound effects

Accounting Today

Local measures galore; AI to the rescue; franchisees' checklist; and other highlights from our favorite tax bloggers.

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Book of Secrets on the Month-End Close

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.

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Not For Profits makes a positive impact on society

Accounting for Good

Not For Profit organisations continue to make a significant difference to a large percentage of Australians.

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Microsoft launches AI agents, deepening rivalry with Salesforce

Accounting Today

The Redmond, Washington-based software maker said it would roll out 10 "autonomous agents" to complete tasks on behalf of people in areas such as sales, customer support and accounting.

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How to Acumatica - Match Bank Receipt Transactions

Insightful Accountant

Murph looks at how to match a bank receipt transaction to a debit adjustment in Acumatica when users are running 2024R2.

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How CPAs can manage deadlines and reduce year-end stress

Accounting Today

CPAs and accounting firms live (or die) by calendars and clear communication, with daily and annual deadlines.

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

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?

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Murph's ERP Alternatives to QuickBooks is tomorrow, Thursday, October 24th

Insightful Accountant

Tomorrow, Murph is presenting a 'Be Insightful' program covering ERP Alternatives to QuickBooks. The program includes the 10/24/24 webinar, a Blue Paper, and a follow-up Question & Answer workshop.

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The Best Strategies for Nurturing Client Relationships

Summit CPA

Jamie and Jody engage in a dynamic conversation with guest Adam Kurzawa, covering the best strategies to nurture client relationships.

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Streamlining HR with AI: Insights for Accounting Firms with Michelle LeBlanc

Insightful Accountant

Join Gary DeHart and HR expert Michelle LeBlanc as they dive into streamlining HR with AI and insights for accounting firms.

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Thomson Reuters Acquires AI Firm Materia

CPA Practice

Thomson Reuters Corporation, a global content and technology company, has acquired Materia, a U.S.-based startup that specializes in the development of an agentic AI assistant for the tax, audit and accounting profession. This transaction, which is complementary to Thomson Reuters AI roadmap, accelerates Thomson Reuters vision for the provision of generative AI tools to the professions it serves.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

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.

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Be Insightful - Join Before October 29!

Insightful Accountant

Join Insightful Accountant's Be Insightful Premium Content and training program before October 29 and you will be entered into a drawing for a $5000 travel voucher.

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What will the Budget bring?

Inform Accounting

With the Budget coming on 30th October, speculation is increasing on what changes will be announced. The Chancellor and the Prime Minister have made comments to indicate that the Budget will bring “difficult decisions”.

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Thomson Reuters Acquires Materia

Insightful Accountant

Thomson Reuters acquires Materia - a specialist in agentic AI for the tax, audit and accounting profession.

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Celebrating the heart and soul of Greater Sydney

Accounting for Good

The Sydney Awards presented by the Committee For Sydney is a spectacular evening, and we are proud to play our part in the organisation.

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New Software & You: Elevating Your Tech Stack

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!