ThomsonReuters
MAY 28, 2024
Jump to: 2024 top priorities Key Insights from the 2024 State of Tax Professionals Report Preparing your firm for the future In the ever-evolving landscape of tax and accounting, professionals are continually adapting to new challenges and opportunities. Having weathered the waves of post-pandemic anxiety, many tax & accounting firms are now shifting their attention back to business fundamentals.
TaxConnex
MAY 28, 2024
Managing your sales and use tax process can be difficult for businesses of all sizes and industries. Unlike most countries, there isn't a nationwide sales tax. So keeping up with the continual changes in states and local jurisdictions and maintaining a fully accurate compliance process for a complex business could make even the best of sales tax experts dizzy.
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Accounting Today
MAY 28, 2024
The Governmental Accounting Standards Board released an updated standard to improve some of the main components of the financial reporting model for state and local governments.
CPA Practice
MAY 28, 2024
Intuit Inc. (Nasdaq: INTU), the global financial technology platform that makes Intuit TurboTax , Credit Karma , QuickBooks , and Mailchimp , announced the QuickBooks Grant Program , which will award 20 small business owners $10,000 each and business mentorship resources to help drive their success. The program is one of several activations for Intuit’s Small Business Success Month , which recognizes and celebrates small businesses and provides tools, resources, and funding to fuel their growth.
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.
Accounting Today
MAY 28, 2024
Intuit has been working to cater TurboTax to those with more complicated tax situations, betting that those customers could use online help from experts.
Cherry Bekaert
MAY 28, 2024
Contributors: Tony Konkol, Manager, State & Local Tax North Carolina Senate Bill No. 508 (Session Law 2024-1) was signed into law on May 15, 2024 and provides an extended July 1, 2024 due date for partnerships to make a tax year 2022 pass-through entity tax (PTET) election. House Bill No. 259 (Session Law 2023-134) was enacted on October 3, 2023, expanding eligibility for North Carolina’s PTET election.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
MAY 28, 2024
By Richard N. Velotta, Las Vegas Review-Journal (TNS) Color me skeptical, but I’ll believe the recent news about the IRS and U.S. Treasury acting to increase the threshold on reportable slot machine jackpots when I see it. Last week, there was a report that the Internal Revenue Service Advisory Council recommended to IRS Commissioner Danny Werfel that the current amount required to trigger preparation of a W2G form of winnings above $1,200 would be changed to $5,800.
Accounting Today
MAY 28, 2024
The Internal Revenue Service is accepting applications for the Low-Income Communities Bonus Credit Program through June 27.
AccountingDepartment
MAY 28, 2024
It's summertime at AccountingDepartment.com and we have all sorts of fun things happening! To kick off the summer season this past Memorial Day weekend, we launched our 13th annual ADC Summer Challenge.
Accounting Today
MAY 28, 2024
The decline in taxpayers taking advantage of the ADR process was a major topic at a recent IRS meeting.
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.
Insightful Accountant
MAY 28, 2024
New Small Business Grants available from Intuit QuickBooks will unlock $200,000 in funding for small businesses.
Accounting Today
MAY 28, 2024
Qualified small business stock carries major potential savings for startup founders and investors, but the benefits come with some important caveats to keep in mind.
CPA Practice
MAY 28, 2024
Nearly 200 accounting professionals gathered earlier this month in the warm sunshine of Austin, TX to share experiences and learn from a host of experts at the inaugural Rightworks RightNOW conference, billed as a conference that “unites accounting professionals to drive awareness around cutting-edge solutions, innovative strategies, and best practices that foster modern and profitable firms.
Accounting Today
MAY 28, 2024
The new firm will be led by KPMG's U.K. CEO, Jon Holt, while Stefan Pfister, currently the boss of the Swiss arm, will become deputy CEO.
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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.
Withum
MAY 28, 2024
The Financial Accounting Standards Board (FASB) has issued two new accounting standards updates applicable to business combination accounting. The new guidance is aimed at improving the consistency of financial reporting for business combinations and reducing complexity in accounting for contract assets and contract liabilities. It is expected to provide more useful information to investors and other financial statement users.
CPA Practice
MAY 28, 2024
The New Jersey Society of Certified Public Accountants (NJCPA) held its inaugural Accelerating Scholars in Accounting (ASA) event on May 16 at its office in Roseland. More than 50 accounting students from universities/colleges and county colleges were in attendance. Interactive discussions about the accounting profession and becoming a CPA were held on cultivating a positive mindset for success, how to sharpen one’s professional presence, the CPA Exam, scholarships, networking, how to enhance on
Accounting Today
MAY 28, 2024
Taking a different approach to leadership, management and community can yield tremendous results.
CPA Practice
MAY 28, 2024
U.S. taxpayers living and working outside the United States must their 2023 federal income tax return by Monday, June 17, according to the IRS. This deadline applies to both U.S. citizens and resident aliens abroad , including those with dual citizenship. Qualifying for the June 17 extension U.S. citizens or resident aliens residing overseas or on duty in the military outside the U.S. are allowed an automatic two-month extension to file their tax return and pay any amount due.
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
Accounting Today
MAY 28, 2024
About 140 countries signed on to the outline of a groundbreaking pact in 2021 to reform the way large multinational companies are taxed.
CPA Practice
MAY 28, 2024
By Thad Moore, The Atlanta Journal-Constitution (TNS) The bankrupt Atlanta financial technology firm Kabbage will pay the federal government as much as $120 million to settle allegations that the lender enabled fraudsters preying on a pandemic-era stimulus program. Whistleblowers alleged that Kabbage boosted its revenue by approving suspicious applications for federally backed loans under the Paycheck Protection Program and taking steps that inflated the cost to the government.
Anders CPA
MAY 28, 2024
No basic template exists to value a business, including a creative agency. Whether you’re considering the sale of your agency, an acquisition or merger with another agency, an employee buy-in or just want to understand what your agency may be worth, it’s important to be aware of costly mistakes that could lead to an inaccurate value. It may be appropriate to use one or more established valuation approaches to find a proper value for your agency.
CPA Practice
MAY 28, 2024
Clockwork, a provider of AI-powered financial modeling and cash flow forecasting tools, has launched its new feature, Consolidated Forecasting. This innovative tool sets a new industry standard by offering the first and only solution for consolidating forecasts across multiple client accounts in real-time, a game-changer for accountants. Traditionally, accountants have been handcuffed to reporting tools to aggregate financial data for clients with multiple entities, and only on a historical basi
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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.
Accounting Today
MAY 28, 2024
Day to day, accountants are already involved in everything from improving energy efficiency to waste management, recycling and digital solutions.
CPA Practice
MAY 28, 2024
The Association for Accounting Marketing (AAM) unveiled its 2024 recipients of the individual Marketing Achievement Awards (MAA) during the AAM Summit on May 14, including the newest inductees of the AAM Hall of Fame—Becca Johns and Sarah Dobek. Becca Johns “Becca Johns’ journey from marketing coordinator to director of practice growth at Rea & Associates exemplifies her strategic acumen and innovative approach,” the AAM said.
Ryan Lazanis
MAY 28, 2024
Dive into the world of offshore accounting: Discover benefits, challenges, and best practices in this comprehensive guide. The post Offshore Accounting: Everything You Need to Know appeared first on Future Firm.
CPA Practice
MAY 28, 2024
By Brody Ford, Bloomberg News (TNS) Intuit Inc. shares dropped the most in two years after the company reported losing 1 million customers who use its TurboTax service for free, stoking concerns about demand for the software. Ten million people used TurboTax for free this year to file their taxes, a drop of about 1 million from a year ago, the Mountain View, California-based software developer said.
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.
Insightful Accountant
MAY 28, 2024
Sage Intacct has unveiled several new updates designed to advance productivity and control for SMBs. These new features streamline operations from AI-powered Timesheets to Advanced Financial Controls, ensuring smoother workflows and compliance.
CPA Practice
MAY 28, 2024
The Governmental Accounting Standards Board (GASB) has issued guidance designed to improve key components of the financial reporting model—the blueprint for governmental financial reports. GASB Statement No. 34, Basic Financial Statements—and Management’s Discussion and Analysis—for State and Local Governments , which established government financial statements as we know them today, was issued almost 25 years ago in 1999.
Withum
MAY 28, 2024
Microsoft Build 2024 brought forward several exciting and important updates last week that showcase the future of AI, productivity tools and developer platforms. Here at Withum, we are excited about these new innovations as we continue to have AI Strategy conversations and guide our early adopter clients along their Copilot journey. Our Microsoft MVP and Alliance Manager, Diana Torres Viasus ; was one of the fortunate 4,000 attendees in Seattle and part of the group of Experts supporting Microso
CPA Practice
MAY 28, 2024
Join RSM’s highly anticipated two-day federal tax forum for comprehensive sessions covering crucial updates in federal tax regulations and practices. This immersive forum comprises six dynamic sessions spread across two days, all of which are eligible for continuing professional education (CPE) credits. Dive deep into the latest developments and insights shaping the federal tax landscape.
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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.
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