Tue.Sep 17, 2024

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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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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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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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[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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If It Ain't 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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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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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.

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While PwC Begs Clients Not to Leave, EY Hands Out Cake

Going Concern

PwC China is currently sitting on the sidelines after Chinese regulators handed down a six month ban and $62 million in fines for the firm’s work on collapsed developer Evergrande. At least five clients have left since the news of the punishment came out on Friday despite PwC’s assurance (no pun) they would continue to work to the extent they’re allowed through the ban period.

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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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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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Business Travel Expense Strategies for Everybody

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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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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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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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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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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4 Things Great Companies Do to Improve Cash Flow

Speaker: 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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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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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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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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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 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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Intuit Enterprise Suite: The All-in-One Solution or Just Another Bundle?

SchoolofBookkeeping

Brace yourselves, folks! Intuit has just dropped the Intuit Enterprise Suite , an AI-powered, all-in-one extravaganza designed for those larger-than-life businesses that have outgrown their training wheels. What is Enterprise Suite? The Intuit Perspective As companies grow, their needs become a tangled mess of high-maintenance account management, juggling a circus of software, and losing precious time hopping between QuickBooks, third-party tools, and those beloved spreadsheets.

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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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Some Solutions for State and Local Tax Deductibility

CPA Practice

By Girard Miller Governing (TNS) To help pay for middle-class tax cuts in 2017, Congress put a $10,000 limit on itemized deductions for state and local taxes, known as the “SALT” deduction. Although only some 10 percent of federal income tax returns included itemized deductions last year, fewer yet exceed the SALT ceiling —mostly a subset of taxpayers with six-figure incomes.

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Client Onboarding Success for Accounting and Advisory (CAAS) Firms

Insightful Accountant

At GranthamPoole, the sales process is integral to onboarding and starts with the very first meeting with a prospect. This is the initial chance in which the team can listen to the client.

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A Quick Historical Bookkeeping Cleanup

Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

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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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Intuit Announces Intuit Enterprise Suite

Insightful Accountant

Has my crystal ball been working, or what? Intuit has 'just announced' their new 'Intuit Enterprise Suite' that combines Mailchimp with QuickBooks and other products/service functionalities, just as I forecast 2 days ago.

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The Q4 Budget Crunch: Marketing Advisory Services to Clients Planning for the New Year

CPA Practice

As businesses enter the fourth quarter, a period of urgent financial planning, they need expert advisory services. This is a critical time for you to step in and offer guidance that helps clients navigate their budget planning and financial forecasting needs. The Q4 budget crunch presents a golden opportunity for you to market your expertise in guiding businesses through year-end reviews and setting them up for success in the new year.

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Copilot Wave 2: Bridging the Gap Between Humans and AI

Withum

Copilot Wave 2 is here, being dubbed as “UI for AI.” While the release notes provide a deep dive into all the technical details, the overarching theme is clear: Microsoft is moving to close the gap between humans and AI across various solutions, making it easier for teams to work together with their AI counterparts. From Individual to Collaborative Productivity With Copilot Pages First and perhaps most interesting is the new Copilot Pages feature , which moves working with Copilot out of the 

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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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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Copilot Wave 2: Introducing Copilot Pages

Withum

Since its official release in 2023, Microsoft 365 Copilot, now enhanced with Copilot Pages, has made remarkable strides in redefining workplace productivity and collaboration. Utilizing the power of advanced AI, Copilot has seamlessly integrated into daily workflows, bringing unparalleled efficiency and innovation. From automating mundane tasks to providing intelligent insights, Copilot’s capabilities have continuously evolved, demonstrating Microsoft’s commitment to empowering users

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5 Good Practices For Auditor Independence, According to the PCAOB

CPA Practice

During its inspections of public accounting firms’ audits of issuers from 2021 to 2023, the Public Company Accounting Oversight Board (PCAOB) saw a year-over-year increase in the number of comment forms related to auditor independence problems, the audit regulator said in a staff report released on Sept. 16. Comment forms are the initial communication the PCAOB uses to let accounting firms know of potential audit deficiencies inspectors spotted during their reviews of the firms’ public company a

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