CPA Practice

MAY 17, 2024

As the spring conference season has begun, connecting with long-term friends and making new acquaintances at the G400, BDO, and other events has been good. As of this writing, I’m particularly anticipating the CPA Practice Advisor Mashup event at AICPA Engage, where I’ll present a version of Tech Update, which is the motivation for this column. Perhaps watching the aurora borealis and other circumstances of this year has made me reflective, but I suspect it is the anticipation of what is new.

Technology 64

Technology accounting firms Account accounted 64

RogerRossmeisl

MAY 17, 2024

Commencing in 2024, individuals who possess short-term rentals (such as rentals facilitated by platforms like Airbnb) will be required to fill out the newly introduced Form BOE-571-STR, known as the Short Term Rental Property Statement, in order to disclose their business personal property. Business personal property is typically subject to annual reappraisal, unlike real property.

California 185

California CPA Tax business tax 185

Accounting Today

MAY 17, 2024

The Illinois CPA Society's "Re-Decoding the Decline" report shows that time is the top barrier to CPA licensure, not the 150 credit-hour rule.

Illinois 138

Illinois CPA cpas accountant 138

SMBAccountant

MAY 17, 2024

Are you a small business owner seeking expert guidance on accounting practices? Navigating the complexities of financial management is crucial to the success of any business. Establishing a core understanding of key accounting principles not only instills confidence but also ensures compliance with accounting and government regulations. Our checklist will guide you through some key items to consider when setting up your business and best practices for those already in operation.

accounting software 130

accounting software Legal tax return financial statements 130

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.

Finance

Accounting Today

MAY 17, 2024

Test your accounting knowledge on bad social media advice, AI adoption, and more. No. 2 pencil not required!

Account 130

Account accounted accountant 130

Going Concern

MAY 17, 2024

Sad? Sad prediction: AI and offshoring are going to wreck the accounting profession in the next decade. Combine that with the pain every company has with this function and it’s a recipe for economic disaster. — Michael Girdley (@girdley) May 14, 2024 There are two types of people: those who don’t find this sad (only accountants fall into this category) and those outside of the profession who think bookkeepers and payroll clerks (RIP) are what make up “the accounting profession.

Account 126

Account accounted accountant institute of chartered accountants 126

Randal DeHart

MAY 17, 2024

Most businesses understand that customer satisfaction is crucial to their success. Happy clients are likelier to remain loyal, refer others, and leave positive reviews. This trend has only been amplified by social media and online review sites, where negative feedback can spread quickly and damage a company's reputation. In an increasingly competitive marketplace, more than an effective customer service system is needed: you must provide customers with a positive and memorable end-to-end experie

Construction 93

Construction 93

Accounting Today

MAY 17, 2024

Plus, Lettuce launches AI-powered tax tool for sole proprietors; Lili touts "Accountant AI" bot; and other accounting technology news and updates.

Technology 122

Technology Tax Account accounted 122

Patriot Software

MAY 17, 2024

You must know each employee’s hours worked to run payroll. To do that, you must calculate hours worked. So, what does the process of calculating hours worked look like? Learn how to calculate hours worked step-by-step below, plus get an in-depth example. *I don’t want to do the calculations.

payroll 85

payroll 85

Accounting Today

MAY 17, 2024

Insights into the IRS's progress on the Form 1099-DA and forthcoming regs on crypto asset reporting.

Tax 122

Tax 122

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Technology

GrowthForceBlog

MAY 17, 2024

9 min read May 17th, 2024 Cash flow optimization is essential to the survival, growth, and success of every business. Healthy cash flow is so vital to business operations that mismanaged cash flow is the top reason businesses fail, according to the United States Chamber of Commerce.

accountant 74

accountant accounted Account 74

Accounting Today

MAY 17, 2024

A professional brings objectivity to dicey conversations between relatives as well as experience navigating the substantial work involved with transferring assets, experts say.

Tax 96

Tax 96

AccountingDepartment

MAY 17, 2024

Andrea engages in a candid conversation with ADC co-founder Bill Gerber, exploring the pivotal decision-making process behind delegating tasks for business growth.

accounting careers 72

accounting careers accountant accounted Account 72

Accounting Today

MAY 17, 2024

These investment vehicles present obstacles that require a deep understanding of the real estate industry and robust financial expertise.

Real Estate 93

Real Estate audit 93

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.

payroll

CPA Practice

MAY 17, 2024

Canopy, a firm-wide operating system that helps accounting firms, has raised $35 million in an oversubscribed round of venture funding. The round was led by Ten Coves Capital and Ankona Capital, with participation from Pelion Venture Partners, Tenaya Capital, and NewView Capital. The $35 million investment will be channeled towards doubling down on Canopy’s vision for leveraging AI to make firms exponentially more efficient.

accounting firms 69

accounting firms Account accounted accountant 69

Insightful Accountant

MAY 17, 2024

Accounting Insiders guests Dawn Brolin and Rhonda Shurter from ADP. Rhonda, the Senior Director of Product Management at ADP, highlighted Accountant Connect features for industry trends and efficiency.

Account 52

Account accounted accountant 52

CPA Practice

MAY 17, 2024

Karen Garcia Los Angeles Times (TNS) In the fifth straight week of layoff announcements, Tesla said it is now concentrating on reducing staff at its Bay Area facilities as part of a larger move to cut jobs globally. State filings show that Tesla is planning to lay off 378 employees at its Fremont, California, facilities and 233 at its Palo Alto offices.

California 59

California Sales 59

Withum

MAY 17, 2024

The pursuit of a favorable CDP score has become a defining element of sustainability programming in businesses worldwide. Now, CDP has grown to over 23,000 corporations disclosing their environmental data annually, which includes over 80% of the Fortune 500. The factors fueling CDP’s becoming one of the most prominent sustainability reporting frameworks include a push for enhanced transparency in environmental reporting, companies setting ambitious sustainability goals and asking for suppo

CPA 52

CPA Sales 52

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.

Finance

CPA Practice

MAY 17, 2024

London-based accounting and payroll solutions company IRIS Software Group said on Wednesday it had acquired Swipeclock, a provider of cloud workforce management solutions, such as WorkforceHub and ApplicantStack, for small and medium-sized businesses. Financial terms of the deal weren’t disclosed. Swipeclock, based in South Jordan, UT, will operate as an independent business within IRIS Software, according to a media release.

Utah 59

Utah payroll accounted Account 59

ThomsonReuters

MAY 17, 2024

Employee retention is a pivotal concern for organizations across industries, as high turnover rates can significantly undermine productivity, morale, and profitability. Human resource (HR) and payroll professionals play a crucial role in implementing strategies and leveraging data-driven insights to foster a positive work environment and mitigate attrition risks.

payroll 52

payroll Tax accounted Account 52

CPA Practice

MAY 17, 2024

Nick Wooten The Dallas Morning News (TNS) North Texas is home to five of the 15 fastest-growing cities in the country, according to new data from the U.S. Census Bureau. Of cities and towns with a population of at least 20,000 people, Celina topped the list with a 26.6% population increase in the 12 months between July 2022 and July 2023. Its growth rate was more than 53 times higher than the nation’s growth rate of 0.5%.

Texas 52

Texas Start-ups 52

Insightful Accountant

MAY 17, 2024

Canopy has secured $35-million in funding to enhance their AI-powered Practice Management software for Accounting Firms.

accounting firms 52

accounting firms Account accountant accounted 52

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

CPA

CPA Practice

MAY 17, 2024

Prior to the widespread adoption of ecommerce, handling sales and use tax was relatively feasible for businesses, especially those with limited customer bases or geographical scopes. This typically involved reporting to a small number of jurisdictions and dealing with occasional changes in sales tax rules or rates. Nevertheless, certain aspects of the process, such as managing sales tax exemption certificates, could still be intricate and difficult.

Sales 52

Sales Tax Technology audit 52

Accounting Today

MAY 17, 2024

One man, in the eyes of Donald Trump, is a "money machine." The other is a guy named "Scott.

Tax 119

Tax 119

CPA Practice

MAY 17, 2024

Prashant Gopal Bloomberg News (TNS) Mortgage rates in the U.S. eased further, relieving some pressure on buyers forging ahead in a tough U.S. housing market. The average for a 30-year, fixed loan was 7.02%, down from 7.09% last week, Freddie Mac said in a statement Thursday. It’s the fifth-straight week with mortgage rates above 7%. While the recent pullback helps to ease financing challenges for some buyers, mortgage rates are still double what they were in early 2022.

accounting and finance 52

accounting and finance Finance accounted Account 52

Accounting Today

MAY 17, 2024

The Club for Growth Foundation, whose members have sparred with Trump advisors on economic policies, says its corporate tax cut plan — as well as a corresponding push for deregulation — are aimed at bolstering U.S. manufacturing.

corporation tax 119

corporation tax Tax Manufacturing tax planning 119

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

Spend Management

CPA Practice

MAY 17, 2024

Hosts Randy Johnston and Brian Tankersley, CPA, look at MakersHub.ai , an automated AP system serving construction, construction services, industrial contractors, automation, and manufacturers, as well as bookkeepers and accounting professionals who serve these clients. Use the video player below to watch, or the podcast player below to listen to the podcast.

Technology 52

Technology Account accounted accountant 52