Mon.Nov 27, 2023

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The 20 best states to be a property owner

Accounting Today

The six states with the lowest real-estate taxes have an average rate of 0.48%.

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Boost Your Financial Performance: Reports Your FP&A Team Needs

Acterys

In a rapidly changing business environment, companies turn to financial planning and analysis (‌FP&A) reports for a holistic understanding of business conditions and performance. For FP&A teams to be most effective, they need powerful, easy-to-use tools that help them quickly analyze data, create financial reports and distribute that information among stakeholders.

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Two Paths Forward: AI in Startup Finance

BurklandAssociates

Back office solutions and decision support solutions will both be natural beneficiaries of AI’s core promise. The post Two Paths Forward: AI in Startup Finance appeared first on Burkland.

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Congress has little time to make tax changes this year

Accounting Today

The demands from various constituencies for tax breaks are not likely to stop lawmakers from proposing or introducing new legislation, if only to position themselves ahead of next November's election.

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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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FASB Issues New Rules on Segment Reporting

CPA Practice

The Financial Accounting Standards Board (FASB) on Monday approved new rules that are expected to improve disclosures about a public company’s reportable segments and provide more information to investors about a segment’s expenses. The changes outlined in Accounting Standards Update (ASU) No. 2023-07 , Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , are the “most significant since 1997” when the board issued Statement 131 to improve the way public companies repor

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A pipeline progress report

Accounting Today

Sue Coffey and Lexy Kessler share what's being done in the short term and the long term to address the profession's shortage of new accountants.

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More Trending

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Consulting firms face the wildest headwinds in years

Accounting Today

PwC and EY are among the large firms collectively shedding thousands of staff.

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Union Ledger Podcast: Trending Topics and Insights for Labor Unions

Withum

Available Episodes Episode 1: Is It Time for Your Union To Explore 3rd Party Accounting? Episode 1: Is It Time for Your Union To Explore 3rd Party Accounting? Withum’s Jason Edwards joins the Union Ledger podcast to discuss all things 3rd party accounting. Tune in to hear about the benefits of 3rd party accounting experienced by our clients including increased efficiency, improved transparency, and potential cost savings.

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Australian business news wrap for November!

Reckon

What’s been happening in Australian business news throughout November? With rate rises, holiday shopping and scam prevention on the radar, let’s take a look at some of the more pressing news. Even more rate rises cut a little deeper and cause Christmas trade concerns for small businesses The recent 25-point rate rise by the RBA, which brings the cash rate up to 4.35%, is pipped by several experts, to be anathema to Christmas trade for Australian businesses.

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Xero Partners with Avalara to Add Auto Sales Tax Calculations

CPA Practice

Xero , the makers of business management solutions, has added new auto sales tax capability, helping to provide reliable sales tax calculations, comprehensive reporting, and automated filing options for small business owners and their advisors. Developed in partnership with Avalara, a market leader in tax compliance automation, the embedded solution brings advanced sales tax workflows and management directly into the Xero platform, enabling advisors and business owners to automate sales tax calc

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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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Art of Accounting: Start now to ease next tax season

Accounting Today

Tax season is around the corner. Starting now with a few easy steps can relieve much of the pressure later.

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Corvee Adds Augusta Rule Deduction Guidelines for Home Rentals to Tax Planning System

CPA Practice

Corvee, a maker of tax planning technology for businesses and tax pros, has added Augusta Rule deduction filing guidelines into its Instead and Instead Pro tax planning systems. The Augusta Rule, known as Section 280A by the Internal Revenue Service, allows homeowners in any income bracket to rent out their homes for up to 14 days without the obligation to report the rental income as taxable on their tax return.

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Your Guide to Year-End 2023: Personal Use of a Company Car

ThomsonReuters

It’s a great perk when an employer provides a company car that a worker can also use during non-work hours. But the value of that perk is generally taxable. But how do you tax the value of a noncash fringe benefit? How do you calculate PUCC? There are four methods to calculate personal use of a company car (PUCC): General valuation method. Under this method, the value is the fair market value of the employer-provided vehicle, determined as the amount the employee would pay to a third-party

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Cybersecurity in Healthcare: Threat Intelligence Report 

Withum

Download the Report Stay Ahead of the Cybercriminals We are amid a national crisis as healthcare data breaches and cyber threats continue to grow. One way to ensure that your defenses are one step ahead of your attacker is to utilize threat intelligence to build your defenses. We are amid a national crisis as healthcare data breaches and cyber threats continue to grow.

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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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Your Guide to Year-End 2023: Bonuses

ThomsonReuters

As the holidays approach, many employers plan on paying out bonuses, incentives, or other supplemental wages to employees that may have unexpected tax and compliance implications. Payroll Guide ¶ 4100 et seq. contains a detailed discussion on supplemental wage payments. Paying out bonuses Employers have several options when it comes to paying out bonuses.

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FASB offers segment reporting guidance

Accounting Today

A new final accounting standards update from FASB aims to improve public companies' disclosures about their reportable segments and expenses.

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Seven Signs You Need a Better Fund Accounting System

GrowthForceBlog

7 min read Nonprofit leaders face plenty of challenges and adversity when it comes to accomplishing their missions, attracting and retaining donors, and executing their strategies. With so much difficulty facing nonprofit leaders, struggling to keep up with the bookkeeping and accounting tasks of the back office doesn't need to be added to the list of struggles.

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KPMG freezes pay and cuts bonuses amid UK slowdown

Accounting Today

Due to soft market demand, raises will be prioritized for staff who have been promoted, and workers eligible for a bonus will receive one that's lower than in previous years.

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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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Understanding Tax Savings for UK Tech Firms

Menzies

Menzies LLP - A leading chartered accountancy firm. The guidelines governing capital allowances underwent a revision this April, following the termination of the super-deduction scheme. Understanding the differences between the available allowances is crucial for enhancing tax savings and bolstering cash flow, particularly in the early stages of a tech enterprise, where capital investments may be significant.

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2023 Year-End Tax Planning Strategies for Technology Companies

Cherry Bekaert

Relatively new rules around research and experimentation costs have had a notable impact on early and growth stage technology companies, sending many into a newly taxable income position. Join two of Cherry Bekaert’s Technology Tax Partners to learn more about what companies in this position should do to mitigate the impact of those rule changes as well as plan strategically for 2024.

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Mixed reviews on the Autumn Statement from the Transport & Logistics sector

Menzies

Menzies LLP - A leading chartered accountancy firm. It was a mixed Autumn Statement from the Chancellor, which was clearly geared towards capital intensive industries and attracting investment into the UK whilst including some welcome measures which could benefit the Transport & Logistics sector. Here’s what was announced: Full expensing to be made permanent ‘Full expensing’, which came into effect from 1 April 2023 and which replaced the super-deduction has now become a permanent measure an

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Breaking News: Exciting Updates to QuickBooks Ecosystem Unveiled at QuickBooks Connect 2023!

Insightful Accountant

In this video report, we'll focus on a game-changing addition to QuickBooks Online Accountant - the all-new QuickBooks Ledger functionality.

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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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Taxability of Personal Guarantee and Corporate Guarantee under GST| Clarified by CBIC

VJM Global

Providing guarantee is a very common part of business finance wherein one person provides guarantee to the bank or financier on behalf of the other person for securing loan or credit facility. In some cases, commission is paid as a consideration for providing guarantee. CBIC has received various representations with respect to applicability of GST on personal guarantee provided by Director to the bank for granting credit facility to the company or corporate guarantee provided by the company on b

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Grey Sky Films Wins First Place at NJ Ad Club Awards for Withum Recruitment Video

Withum

Withum is proud to share that Grey Sky Films , the video production company for Withum’s commercials, has won first place at the NJ Ad Club Jersey Awards for the firm recruitment video. Watch Video At the 55th Annual Jersey Awards in September, NJ Ad Club awarded Grey Sky Films with the first place honor in the Television: Streaming Service or Online Commercial category. “Join Our Withum Team” was filmed on-location at the firm’s East Brunswick office.

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How to Update the Deposit to Account in Mass with Spreadsheet Sync

Insightful Accountant

Hello, everyone! As we all travel back to our desks after eating all the turkey, we still have year-end to do and sometimes that comes with some clean up tasks. Join Liz as she guides you through the process of using Spreadsheet Sync in QBO.

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Modern Solutions for a Modern Workplace at Microsoft Ignite 2023

Cherry Bekaert

Cherry Bekaert was recently a sponsor at Microsoft Ignite 2023. Ignite is an annual Microsoft event for developers and IT professionals – including CIOs, CTOs, product management and the myriad of other roles working with Microsoft technologies. This year’s event occurred at the stunning new Summit building at the Seattle Convention Center – the first Microsoft event held there.

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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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Engagement Letters: The Do’s and Don'ts

Canopy Accounting

Engagement letters establish clear expectations and boundaries between clients and accountants. In this post, we will explore the do's and don'ts of crafting effective engagement letters, ensuring you have the necessary skills to navigate this important aspect of your client relationships. Understanding the best practices surrounding engagement letters is essential for accountants to maintain transparency and minimize potential issues for their firm.

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PwC cuts 2% of its workforce in Canada amid slowing economy

Accounting Today

Sustained high interest rates are pushing the nation's economy toward a recession.

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The 150-Hour Rule: A Case of Quantity Over Quality

Going Concern

Ed. note: the following was submitted as a letter to the editor by William Hahn, CPA (Florida and Ohio). Comments are open. One CPA candidate is able to meet the 150-hour requirement by using dual enrollment credits earned five years ago while still in high school. In contrast, a workplace associate is pursuing the needed additional 30 hours by obtaining a master’s degree at a cost of $30,000.

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Republicans Protest Biden’s IRS Threshold Requirement for Online Purchases

CPA Practice

By Charles Owens, Bluefield Daily Telegraph, W.Va. (TNS) Area lawmakers are protesting a decision by the Biden administration to once again delay the IRS reporting threshold requirement for online purchases. Prior to the passage of the American Rescue Plan, 1099-K forms were issued by the IRS to taxpayers who exceeded 200 transactions totaling $20,000 in a tax year.

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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.