ThomsonReuters

JUNE 24, 2024

Payroll professionals have a crucial role in identifying, tracking, and reporting unclaimed wages to prevent liability issues. As unclaimed property compliance evolves, with trends such as shorter dormancy periods and new property types like virtual currency and payroll cards, coordination across the organization is essential. This ensures that all relevant property types, beyond just payroll, are accurately reported to minimize potential audit concerns.

accounting firms 52

accounting firms payroll West Virginia Account 52

RogerRossmeisl

JUNE 24, 2024

There are many rewards for taking care of an elderly relative. They may include feeling needed, making a difference in the person’s life and allowing the person to receive quality care. In addition, you could also be eligible for tax breaks. Here’s a rundown of four of them: Medical expenses. If the individual qualifies as your “medical dependent” and you itemize deductions on your tax return, you can include any medical expenses you incur for the person along with your own when determining your

Tax 214

Tax tax return CPA 214

Accounting Today

JUNE 24, 2024

The Internal Revenue Service switched over from focusing its audits on taxpayers earning $10 million or more to those earning $400,000 or more after passage of the Inflation Reduction Act.

audit 130

audit Tax 130

RogerRossmeisl

JUNE 24, 2024

When valuing a business, experts often look beyond the company’s financial statements. Management interviews and document requests may provide additional objective insight into how much the owners believe the business is worth. This information shouldn’t be used as a substitute for a comprehensive valuation analysis, but it may identify discrepancies that need to be reconciled.

financial statements 207

financial statements CPA 207

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

CPA Practice

JUNE 24, 2024

By Sandi Smith Leyva. I often hear myself saying, “I need a form for this” in my business. Forms, samples, and templates streamline just about any process you can think of. With generative AI tools, you can now streamline the forms creation process itself. What Forms Do I Need? I asked ChatGPT what forms it recommended for a CPA firm. Here is the answer I got (since ChatGPT is nondeterministic, you won’t get the exact same answer I got.): For a CPA (Certified Public Accountant) firm, creatin

accounting firms 124

accounting firms cpa firm Account accounted 124

RogerRossmeisl

JUNE 24, 2024

The IRS recently released guidance providing the 2025 inflation-adjusted amounts for Health Savings Accounts (HSAs). These amounts are adjusted each year, based on inflation, and the adjustments are announced earlier in the year than other inflation-adjusted amounts, which allows employers to get ready for the next year. Fundamentals of HSAs An HSA is a trust created or organized exclusively for the purpose of paying the qualified medical expenses of an account beneficiary.

Account 204

Account accounted accountant CPA 204

RogerRossmeisl

JUNE 24, 2024

One of the types of occupational fraud schemes that became more costly for employers since the beginning of the COVID-19 pandemic in 2020 is expense reimbursement fraud. According to the Association of Certified Fraud Examiners’ (ACFE’s) latest report, this type of employee scheme now ranks fourth after corruption, billing schemes and noncash fraud.

Expense Reimbursements 179

Expense Reimbursements CPA 179

CPA Practice

JUNE 24, 2024

You never want to turn down good work, or the opportunity to grow your client base and your business. But a recent industry survey found that 42% of accounting firms are doing exactly that. The reason? They can’t put anything more on their plate due to staffing shortages. Separate research from Robert Half for the 2024 Demand for Skilled Talent report confirms that most hiring managers for accounting and finance organizations (87%) are facing challenges recruiting talent right now.

cpa firm 116

cpa firm accounting and finance CPA Technology 116

Withum

JUNE 24, 2024

Exciting things are happening at Withum! As of July 1, a new class of leaders will take their places across the Firm’s industry, regional, and internal teams. These individuals were chosen for their technical expertise, leadership acumen and their dedication to living the Withum Way. As long-term members of these teams, this new leadership class is equipped with all the tools needed to continue the successes of their predecessors and continue to innovate for the future, keeping Withum at the for

Healthcare 111

Healthcare Washington Education 111

Going Concern

JUNE 24, 2024

Seeing a ton of posts in r/CPA as well as the medical licensing subreddits (Steps 1, 2, and 3) that Prometric is sending out emails — sometimes with as little as two days’ notice — advising exam-takers not to show up to the NYC MegaCenter at 1250 Broadway. Rumor is it flooded two weeks ago, which is when the cancellations started rolling in, but we haven’t been able to confirm.

CPA 105

CPA 105

Advertisement

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

Technology

Accounting Today

JUNE 24, 2024

Sen. Bernie Sanders and Ed Markey are introducing legislation to impose a 95% windfall tax on the excess profits of large corporations that are overcharging for products.

Tax 94

Tax corporation tax 94

Going Concern

JUNE 24, 2024

Good morning! It’s Monday, June 24, 2024 and this is your news in and around the accounting profession. The IRS has dropped an Employee Retention Credit update. Update: Hella people were scammin’ Following a detailed review to protect taxpayers and small businesses, the Internal Revenue Service today announced plans to deny tens of thousands of improper high-risk Employee Retention Credit claims while starting a new round of processing lower-risk claims to help eligible taxpayers.

Account 98

Account accounted accountant audit 98

Accounting Today

JUNE 24, 2024

Many plan participants told the U.S. Government Accountability Office they didn't understand their four main options — or the potential tax consequences.

Maine 82

Maine Government Tax Account 82

ThomsonReuters

JUNE 24, 2024

This profitable shift not only opens up new revenue streams but also allows your firm to build deeper, more meaningful relationships with clients. If you’re wondering where to start, here’s a step-by-step guide on how to start offering advisory services at your firm. Jump to: 1. Set time aside to make the shift 2. Approach clients with new advisory services 3.

Technology 75

Technology tax preparation Tax tax return 75

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

Accounting Today

JUNE 24, 2024

Planning is essential in any endeavor, especially in an accounting practice.

Account 75

Account accounted accountant 75

CPA Practice

JUNE 24, 2024

Seth Klamann The Denver Post (TNS) A federal judge this week blocked provisions of a new Colorado law that would’ve limited interest rates on certain short-term loans made by out-of-state banks. U.S. District Judge Daniel D. Domenico granted a request by a trio of financial trade organizations to block the implementation of HB23-1229 , which passed the legislature last year but was set to go into effect July 1.

Colorado 64

Colorado 64

Insightful Accountant

JUNE 24, 2024

The IRS has announced it will continue its moratorium on processing new ERC claims, citing concerns over potential fraud and improper claims.

59

59

CPA Practice

JUNE 24, 2024

Top 100 accounting, tax, and advisory firm SAX LLP has launched a new talent development initiative, leveraging the adaptive e-learning platform, Amplifire. This initiative addresses the need for continuous skill advancement amidst the rapid changes brought about by automation, globalization, and artificial intelligence (AI). Recognizing the diminishing shelf-life of traditional skills in the accounting profession, SAX’s platform aims to equip professionals with skills that address modern challe

cpas 59

cpas Technology audit Tax 59

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

Cherry Bekaert

JUNE 24, 2024

Nowadays, almost everything is online. As technology advances, more and more for-profit and not-for-profit organizations are making the strategic decision to transition from on-premises (on-prem) accounting software to cloud-based accounting software. For some organizations who have already invested in an on-prem system, the idea of transitioning to a cloud accounting software, like Sage Intacct, may seem daunting – whether it’s due to a perceived lack of control and security using a cloud-based

Non-Profits 59

Non-Profits accounting software Technology general ledger 59

CPA Practice

JUNE 24, 2024

Oracle NetSuite has launched a new solution to help healthcare organizations improve business efficiency and support Health Insurance Portability and Accountability Act (HIPAA) compliance. With NetSuite SuiteSuccess Healthcare Edition , healthcare organizations can quickly take advantage of the latest advancements in cloud computing and artificial intelligence (AI) to help streamline business processes, expand insights, improve decision-making, optimize resource allocation, and enhance patient

NetSuite 59

NetSuite Healthcare audit accounting and finance 59

Withum

JUNE 24, 2024

Financial planning is a serious undertaking and must be approached as such. It requires effort, concentration, understanding and knowledge of your choices. It is not something that can be done at the spur of the moment or without careful and deliberate care. Here is a glimpse of the process with some tips on how to proceed. I hosted a webinar on How to be Your Own Financial Planner for the East Brunswick Public Library.

CPA 59

CPA Tax 59

Accounting Insight

JUNE 24, 2024

Hundreds of thousands of year 11 pupils up and down the country are in the midst of their GCSE exams as they look to complete a major milestone in their education. However, new research released today has revealed that perhaps it is accounting software providers within the education sector that should be sent to the Headmaster’s office to review their grades!

Education 59

Education Finance accounting and finance accounting software 59

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

Accounting Today

JUNE 24, 2024

Clients need to start planning for what happens after the day they stop working, says John Napolitano.

53

53

VJM Global

JUNE 24, 2024

Due date of issuance of Assessment order under Section 73 has lapsed for FY 2017-18 and FY 2018-19 on 31st December, 2023 and 30th April, 2024 respectively. In the cases where demand is raised through DRC-07, the taxpayer may either prefer an appeal with Commissioner (Appeals) or opt to pay tax determined through demand order. As per Section 78 of CGST Act, the taxpayer is given a time period of 3 months to make payment of an amount determined to be payable by any order under GST.

Tax 52

Tax Legal Government 52

Insightful Accountant

JUNE 24, 2024

Watch this replay for Marketing Talks as Janel Sykora goes over Marketing Strategies for Lead Generation.

52

52

VJM Global

JUNE 24, 2024

Due date of issuance of Assessment order under Section 73 has lapsed for FY 2017-18 and FY 2018-19 on 31st December, 2023 and 30th April, 2024 respectively. In the cases where demand is raised through DRC-07, the taxpayer may either prefer an appeal with Commissioner (Appeals) or opt to pay tax determined through demand order. As per Section 78 of CGST Act, the taxpayer is given a time period of 3 months to make payment of an amount determined to be payable by any order under GST.

Tax 52

Tax Legal Government 52

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

Insightful Accountant

JUNE 24, 2024

Intuit has recently opened the application process for the 2024 QuickBooks Partner Council. You just might be the Right ProAdvisor for their council.

quickbooks 52

quickbooks 52

VJM Global

JUNE 24, 2024

Due date of issuance of Assessment order under Section 73 has lapsed for FY 2017-18 and FY 2018-19 on 31st December, 2023 and 30th April, 2024 respectively. In the cases where demand is raised through DRC-07, the taxpayer may either prefer an appeal with Commissioner (Appeals) or opt to pay tax determined through demand order. As per Section 78 of CGST Act, the taxpayer is given a time period of 3 months to make payment of an amount determined to be payable by any order under GST.

Tax 52

Tax Legal Government 52

CPA Practice

JUNE 24, 2024

By Petr Marek. The old adage “the best place to find a helping hand is at the end of your own arm,” may as well have been written for small business owners. For as long as small and medium-sized businesses (SMBs) have formed the backbone of America’s economy , they have been defined by a fiercely independent and dogged spirit that has carried them through financial uncertainty, demographic shifts, and even the crushing closures during the COVID pandemic.

cpas 52

cpas Tax accountant accounted 52

CTP

JUNE 24, 2024

Tax planning isn’t just about formulating a tax strategy—it also comes down to knowing in advance how you will implement that plan. Tax planners will typically see the most success when they either handle the implementation themselves and incorporate that into their fee or enlist the help of specialists to take care of different elements. So what are the best practices for implementation planning?

Tax 52

Tax tax planning bookkeeping payroll 52

Advertisement

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.