Mon.Jul 08, 2024

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5 Signs It’s Time to Move On from QuickBooks

Accounting Seed

A revealing list of the top 5 reasons businesses make the switch from QuickBooks to Accounting Seed for their accounting needs.

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IRS fights misleading social media claims

Accounting Today

The Internal Revenue Service has stepped up efforts to combat dubious tax advice promoting schemes involving the Fuel Tax Credit, the Sick and Family Leave Credit, and household employment taxes.

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AICPA News – July 2024

CPA Practice

AICPA News is a collection of recent announcements from the American Institute of CPAs and the Chartered Institute of Management Accountants. AICPA Recognizes Six Individuals with 2024 Outstanding Young CPA Award The AICPA & CIMA recently recognized six practicing CPAs under the age of 40 with the 2024 AICPA Outstanding Young CPA Award. Every year, these awards are given in memory of Maximo Mukelabai, a member of the inaugural class of the AICPA Leadership Academy whose life was tragicall

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Ryan lawsuit halts noncompete rule

Accounting Today

A federal court issued a stay and a preliminary injunction against the Federal Trade Commission's non-compete rule after a lawsuit by the Ryan, a Dallas-based tax services firm, and the U.S. Chamber of Commerce.

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Confronting the Change Challenge

Change is difficult, whether in our private or work life. However, without change, growth and learning are difficult not to mention keeping up with the market and staying competitive. We have all worked for or ourselves are the bosses that prefer to keep the status quo. We will discuss how to address the "change challenge" to enable you to be a changemaker and a graceful recipient of change.

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Most People Think Their Salaries Won’t Give Them Financial Security

CPA Practice

By Bruce Crumley, Inc. (TNS) Business owners facing employee requests for higher pay have plenty of reasons why they can’t increase salaries over current levels, and a new survey suggests another one. They may not be making enough money to feel financially secure themselves. A new poll shows that people across a wide range of revenue levels believe they need far higher incomes to feel financially secure—considerably more than businesses could possibly pay them.

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Deadline for MP Elite 2024 submissions extended for final time

Accounting Today

Due to extensive interest, Accounting Today is extending the deadline for submissions for its annual Managing Partner Elite list to the end of the day on Monday, July 15.

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More Trending

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David Hartley Appointed to the SIU Foundation Board of Directors

Anders CPA

David Hartley, CPA, CISA, advisory partner-in-charge at Anders CPAs + Advisors (Anders), has been appointed to the Southern Illinois University (SIU) Foundation Board of Directors effective July 1, 2024. With a distinguished career and a deep commitment to philanthropy, Hartley brings invaluable expertise to the Foundation’s mission of supporting SIU’s academic endeavors.

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Gen Zers Think Fraud is OK Because the Economy is So Unfair

CPA Practice

By Ben Kesslen, Quartz (TNS) Generation Z believes that the economy is so stacked against them that committing fraud is justified, according to a new report. Sift, an AI-powered fraud decisioning platform, released its Q1 report showing a third of Gen Z either knows someone who has committed first-party fraud or done so themselves. Sift said the Zoomers were purposefully disputing charges they knew to be legitimate.

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About the 2025 ProAdvisor Awards Nomination Form

Insightful Accountant

In this third article of Murph's miniseries on the 2025 ProAdvisor Awards forms, he examines the new Nomination Form and gives some quick tips on its use.

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Debunking the Myths Can Help Firms Start Implementing AI

CPA Practice

By Shane Westra. Over the past several years, artificial Intelligence (AI) and machine learning technologies are becoming increasingly integrated into the daily operations of accounting firms. This change offers both challenges and opportunities, which is an important perspective to maintain as you navigate the adoption of AI in your practice with an eye on maintaining high levels of overall security.

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Travel and Expense Policy Success: Your Essential Checklist

Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.

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Accounting Today news quiz: July 8

Accounting Today

Test your accounting knowledge on identity theft, sales tax reliance, and more. No. 2 pencil not required!

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Younger Workers Would Take a Pay Cut to Spend More Time With Their Pets

CPA Practice

By Bruce Gil, Quartz (TNS) Pets play a large role in how Americans make financial decisions—and for some younger Americans this even means they would take a pay cut for their four-legged friends, according to a survey from the financial services firm Empower. Empower surveyed 1,000 pet owners online and found that 94% of them consider their pets as a part of the family and spend money on them accordingly.

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Art of Accounting: Growing by not learning

Accounting Today

When it comes to practice management, try to learn as much as you can from whatever source is available.

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Survey: Nearly Half of Americans Won’t Be Able to Afford a Summer Vacation

CPA Practice

By Ben Kesslen, Quartz (TNS) Around half of Americans can’t afford to take a summer vacation this year thanks to the rising costs of living, according to a new survey. Fourty-four percent of the 2,500 eligible U.S. voters surveyed by Redfield & Wilton Strategy and Newsweek said they have no travel plans in the next three months. And 53% said they wanted to go on a vacation but couldn’t swing it due to rising prices.

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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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How great works of art can bring grand tax savings on capital gains

Accounting Today

Art carries higher rates than most investments, but financial advisors and their clients can tap into trusts, charitable donations, loss harvesting and the stepped-up basis.

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IRS: Kentucky Storm Victims Qualify For Tax Relief

CPA Practice

By Janie Slaven, The Times-Tribune, Corbin, Ky. (TNS) The IRS announced tax relief for individuals and businesses in parts of Kentucky affected by severe storms, straight-line winds, tornadoes, landslides and mudslides that began on April 2, 2024. These taxpayers now have until Nov. 1, 2024, to file various federal individual and business tax returns and make payments.

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The Xero Beautiful Business Fund is back for 2024

Xero

We’re thrilled to announce the return of the Xero Beautiful Business Fund for 2024. With a prize pool of over NZ$750,000, the Xero Beautiful Business Fund is back to support small businesses and non-profits in seven countries with their growth plans and help drive future success. Small businesses are driven by dedicated and passionate individuals who work hard to contribute to their communities and their local economies.

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Professionals on the Move – July 2024

CPA Practice

Professionals on the Move is a round-up of promotion and staffing announcements from around the profession. Daniel Winokur joins Wipfli as partner, healthcare services Wipfli LLP , an advisory firm, recently announced that Daniel Winokur has joined the firm’s national healthcare services practice as a partner. Winokur is an executive management consultant with 15 years of experience advising federally qualified health centers and other socially responsible ventures.

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Navigating Corporate Travel Changes Post-Pandemic

Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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BDO's new COO and chair plan improvements

Accounting Today

BDO USA recently appointed a new COO to oversee efforts to improve its audit practice and technology, as well as implement its ESOP.

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U.S. Job Market Shows More Signs of Slowing, ADP Data Suggests

CPA Practice

By Jarrell Dillard, Bloomberg News (TNS) Labor data Wednesday added further evidence that the labor market is slowing down. U.S. companies hired workers at a more moderate pace in June and wage growth cooled in private payrolls, according to data from the ADP Research Institute. Recurring claims for unemployment benefits rose for a ninth straight week, the longest stretch since 2018 that indicates a growing number of people are having difficulty finding a new job.

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Canada enacts digital-services tax amid US reprisal threat

Accounting Today

U.S. lawmakers and government officials view the tax as unfair and have threatened to retaliate if Canada moved forward with it.

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Pennsylvania Institute of CPAs publishes Firm Tech Report

Insightful Accountant

The Pennsylvania Institute of CPAs has published a 29-page CPA firm Tech Report with insightful information on the use of technology and where firms are moving related to tech.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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New Year, New Business Plan

Reckon

Your business is always changing, and your business plan should reflect that. This handy document is key to tracking your company’s progress and helping you and your team stay on target. And with the new financial year upon us, now might be the perfect time to take your business plan out of the drawer and give it a fresh update. Yes, you’ve probably got a lot on your plate already, but getting into the habit now can pay off down the track.

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Automating Your AP Nightmare with Smart Data Extraction

Insightful Accountant

Many accounting professionals struggle with the time-consuming and error-prone task of managing accounts payable (AP). If you missed our recent App Academy , MakersHub presented how their innovative solution can revolutionize this critical process.

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7 Reasons to Make Time for Strategic Planning

LSLCPAs

In the bustling world of business, where every minute counts and the pace seems relentless, it’s easy to get caught up in the daily grind and lose sight of the bigger picture. However, amidst the chaos, there exists a crucial activity that is often overlooked but holds the key to long-term success: strategic planning. Strategic. The post 7 Reasons to Make Time for Strategic Planning appeared first on LSL CPAs.

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The Importance of Crypto Investigation Tools

Withum

The Cryptocurrency market has become a booming industry over the past few years, with an influx of investments in digital assets like Bitcoin, Ethereum, and many others. However, as the popularity of cryptocurrencies grows, the number of scammers and hackers trying to exploit people’s lack of knowledge and experience in the field also increases.

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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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State CPA Society News & Updates – July 2024

CPA Practice

State CPA Society News & Updates is a selection of recent announcements and initiatives by CPA associations in the United States and its territories. The Illinois CPA Society (ICPAS)—one of the largest state associations in the nation serving the certified public accountant (CPA) community—recently announced that Larry J. Wolfe, CPA, is the recipient of its prestigious 2024 Lifetime Achievement Award.

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H&L Sector: Post-Election 2024 Commentary

Menzies

Menzies LLP - A leading chartered accountancy firm. Overview The UK general election has resulted in a landslide victory for the Labour party, making a significant shift in the political landscape, which has been under Conservative governance for the past 14 years. Labour’s, Sir Keir Starmer is poised to bring numerous changes, which will lead to implications in the Hospitality and leisure sector.

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Ponzi Scheme Red Flags

FraudFiles

Charles Ponzi How do you know if you’re considering investing in a Ponzi scheme? The promoters will never come out and tell you they are running a pyramid scheme, so the investors have to be smart enough to recognize them on their own. The good news is it is easy to spot a [.

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T&L Sector: Post-Election 2024 Commentary

Menzies

Menzies LLP - A leading chartered accountancy firm. Overview Following the Labour Party victory in election results, there are several key points from their 2024 manifesto that would significantly impact the industry. These policies intend to reshape the transport, logistics and warehouse landscape with the aim of promoting sustainability, efficiency, and social equity.

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Best Practices to Streamline Compensation Management: A Foundation for Growth

Speaker: Joe Sharpe and James Carlson

Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.