Tue.Sep 17, 2024

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4 questions to ask yourself before choosing a sales tax calculation engine

TaxConnex

Getting the right sales tax on your invoice is a pivotal step in managing your sales and use tax obligation. Sales and use tax is a tax imposed on the use or consumption of a product or service and meant to be paid by the end consumer. In certain situations (when you have sales tax nexus), it is your obligation to collect and remit it. Unfortunately, this is easier said than done.

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Annual Financial Planning Resources for Startups

BurklandAssociates

Build a solid financial foundation for your startup’s future with these annual financial planning resources from Burkland’s blog. The post Annual Financial Planning Resources for Startups appeared first on Burkland.

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Mother Pens Letter Calling Out EY After Her Overworked Daughter Suddenly Passed Away at 26

Going Concern

Various outlets in India have reported today that the mother of Anna Sebastian Perayil, a 26-year-old Chartered Accountant who tragically passed away on July 20, has sent a scathing email to EY India Chairman and Regional Managing Partner Rajiv Memani accusing the firm of callous indifference in the death of their young employee. The mom, Anita Augustine, said that her daughter, who “excelled in everything she did,” was too young to set boundaries and thus experienced an “overw

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PCAOB shares best auditor independence practices

Accounting Today

Auditor independence is an area of common deficiencies year after year, according to PCAOB inspections.

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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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AI Forecast to Contribute Nearly $20 Trillion to Global Economy in Next 6 Years

CPA Practice

New research from IDC entitled, The Global Impact of Artificial Intelligence on the Economy and Jobs , predicts that business spending to adopt artificial intelligence (AI), to use AI in existing business operations, and to deliver better products/services to business and consumer customers will have a cumulative global economic impact of $19.9 trillion through 2030 and drive 3.5% of global GDP in 2030.

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Tax planning for the unknown

Accounting Today

Between the coming sunset of the Tax Cuts and Jobs Act, the presidential election and a host of other factors, this is shaping up to be a tough year for advising clients.

More Trending

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Tax Court Halts Deduction for Start-Up Costs in Some Cases

CPA Practice

The tax law allows a generous current deduction for start-up costs if the business begins to function before the close of the year. However, as shown in a new case, Eason, TC Summ. Op. 2024-17, 8/13/24 , you can’t deduct start-up expenses if you abandon the business before it ever gets off the ground. Background : Normally, a business is required to amortize start-up costs over a period of 180 months.

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The Federal Crackdown on Worker Misclassification: Understanding the Stakes and Taking Preventive Measures

Withum

Worker misclassification remains a significant issue in the U.S. labor market, with substantial implications for both workers and employers. Misclassification occurs when businesses improperly classify workers who should be employees as independent contractors. This can lead to severe penalties, legal challenges, and back taxes for businesses. Recent efforts by the IRS and the Department of Labor (DOL) highlight the growing scrutiny on this issue and the necessity for businesses to take proactiv

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[CPE] What to Expect in the Upcoming Tax Season

CPA Practice

Explore key topics for the upcoming tax season, including recent tax law changes, the impact of evolving technology, and adjustments to reporting requirements. Register now Program Level Basic Prerequisites None Field of Study Business Management and Organization Advance Preparation Needed None Delivery Method Group Internet-Based Recommended CPE Credit 1 Credit per 50-Minute Session Registration Instructions Register Online Cost Free Complaint Resolution editor@cpapracticeadvisor.com Presented

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Client Accounting Services to Help Drive Your Business

AccountingDepartment

When you have a small or mid-size business, one of the issues you can run into is not having all the departments a larger company would have. In other words, you might not have dedicated employees for HR, accounting, and other areas. Fortunately, there are ways to outsource a number of services, including client accounting services. This helps keep your company growing and succeeding, without the need to bring on more employees or overwork yourself to get everything done.

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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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A Tax-Friendly Way for Businesses to Help Teachers with Supplies

CPA Practice

By Gary C. Smith. There is a good chance that many teachers are paying for classroom supplies with their own money. In these days of shrinking school budgets, they have become an expert in doing more with less. Probably, no one has told them that many of these same classroom supplies are available at no cost to teachers through something called a gifts in kind organization.

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Who's filing for the CTC?

Accounting Today

Those earning between $30,000 and $40,000 filed 3,160,016 refundable CTC claims and received a total of $6,561,128,000 in returns.

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Intuit Launches AI-Enabled Intuit Enterprise Suite

CPA Practice

Intuit has launched Intuit Enterprise Suite , a configurable suite of integrated financial products designed to seamlessly scale and enhance productivity and profitability for businesses as they grow. Intuit is the financial technology platform that makes TurboTax , Credit Karma , QuickBooks , and Mailchimp , as well as solutions for accounting and tax professionals.

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IRS finalizes rules on consistent basis reporting for estates

Accounting Today

The Internal Revenue Service issued final regulations on consistent basis reporting between an estate and a person acquiring property from a decedent.

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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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Trullion Releases AI-Powered Audit Suite Platform

CPA Practice

Accounting automation platform Trullion announced its Audit Suite, a cloud-based solution designed for auditors to leverage artificial intelligence to enhance accuracy and reduce human error in audits. With Audit Suite, Trullion enables audit teams to work within an AI-driven ecosystem that improves collaboration, mitigates errors, and enhances overall audit quality, the company said in a media release on Tuesday.

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ATA scores private equity investment

Accounting Today

The Regional Leader firm based in Jackson, Tennessee, has received a strategic investment from Copley Equity Partners LLC.

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Many Retirees Plan to Return to Workforce in 2025

CPA Practice

Thousands of retired seniors may soon be returning to the workforce, driven by various financial and personal factors. That’s according to a new survey from ResumeBuilder.com , a resource for professional resume templates and career advice, that looks at the employment status and plans of U.S. residents aged 65 to 85. Results showed that 13 percent of retired seniors say they’re likely to re-enter the job market next year.

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IASB looks to improve statement of cash flows

Accounting Today

The International Accounting Standards Board has begun a research project to review the requirements for the statement of cash flows and related matters.

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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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KPMG Is Ditching 38,000 Square Feet in San Francisco

Going Concern

As reported by San Francisco Chronicle , KPMG is downsizing its San Francisco office space when its lease runs out at 55 2nd Street where the firm occupies 138,000 square feet. Image: Google Wrote SFC: The deal comes after KPMG in March moved to extend its lease at its current office at 55 Second St., which it has occupied since 2003, on a short-term basis of less than three years.

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Xero to buy reporting and analytics platform Syft

Accounting Today

Business solutions platform Xero announced it will acquire cloud-based reporting, insights analytics platform Syft.

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Impact of Transferable Energy Tax Credits on Private Equity Investments

Cherry Bekaert

Discover how the Inflation Reduction Act (IRA) has revolutionized renewable energy tax credits, allowing them to be transferred or sold to qualified buyers, including private equity fund managers. This tax credit development offers a streamlined approach for taxpayers to monetize energy tax credits and a significant tax planning opportunity for private equity funds and their portfolio companies.

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Riveron acquires Effectus

Accounting Today

The business advisory and consulting firm is adding a San Jose-based accounting advisory and financial operations firm.

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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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Prager Metis to Pay $1.95 Million to Settle SEC Charges Over FTX Audits

CPA Practice

Top 60 accounting firm Prager Metis agreed to pay $1.95 million to the Securities and Exchange Commission (SEC) on Tuesday to settle charges that it bungled audits of failed crypto asset trading platform FTX. Prager Metis also settled separate charges that it violated SEC auditor independence rules. In addition, the firm agreed to be censured. Gurbir Grewal “Effective investor protection requires a collaborative approach that includes both regulators and gatekeepers, such as auditors.

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In the blogs: Nonsense

Accounting Today

Projected brackets; the remote debate; relief and refunds; and other highlights from our favorite tax bloggers.

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Xero Acquiring Syft

Insightful Accountant

Xero has just announced that they are acquiring Syft Analytics to enhance their reporting and insights capabilities.

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SEC charges tech execs with $1.3M fraud, lying to auditors

Accounting Today

The SEC alleges Kubient's two former execs and former audit committee chair artificially inflated the company's revenue and lied to auditors.

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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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Future Forward Webinar and Qvinci® help you 'Build Advisory'

Insightful Accountant

With the right tools at hand you can have the 'Advisory' service offerings you want to sustain your practice. Murph explains how Qvinci's Turnkey Advisory offering makes it possible.

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Prager Metis to pay $1.95M to SEC for FTX audits and independence violations

Accounting Today

The firm agreed to settle charges with the SEC over negligence for its work for the now shuttered crypto exchange.

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Reckon named “Great Place to Work”

Reckon

Is your small business a great place to work? Reckon is! For 2024-2025, Great Place To Work has stamped its seal of approval and determined that Reckon is an industry leader in nurturing our employees and providing a safe workplace. So, who is Great Place To Work, and how did Reckon measure up? About Great Place to Work Great Place To Work is an industry body that consults on workplace management and provides certifications for businesses of all sizes on their capacity to offer a great working e

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The future of group audit technology

Accounting Today

Emerging technologies are revolutionizing the group audit process with solutions to navigate the complexities and enhance audit quality.

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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!