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 Account accountant 52

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 228

financial statements CPA 228

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 129

audit Tax 129

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 185

Tax tax return CPA 185

Speaker: Gary Dmitriev

Automation promises increased efficiency and reduced costs, but how do you sift through the hype to find the right solution for your organization? Our upcoming webinar aims to demystify the process of selecting and implementing automation tools. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals.

Technology

CPA Practice

JUNE 24, 2024

By Henry Chandonnet, Fast Company (TNS) Gen Z is growing up in the age of AI-powered large language models like ChatGPT and Gemini AI. Now this generation of young workers born between 1997 and 2012 is quickly preparing for a fast-changing job market. Still, one problem plagues this upcoming cohort of workers: the AI gender gap. According to a new study from the Slack Workforce Lab , men ages 18 to 29 are 25% more likely to have experimented with artificial intelligence technology than their f

Education 115

Education Technology Account accountant 115

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 141

Account accountant accounted CPA 141

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 131

Expense Reimbursements CPA 131

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 111

accounting firms cpa firm Account accountant 111

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 106

Healthcare Washington Education 106

CPA Practice

JUNE 24, 2024

By Rocio Fabbro, Quartz (TNS) Younger Americans aren’t too worried about the prospect of a recession. Of all the generations, Gen Z was the only one not to cite a recession as one of the top concerns affecting their household finances within the next 6 months, according to TransUnion’s latest Consumer Pulse study published Wednesday. Respondents from the generation instead named inflation, housing prices, and jobs among their top personal finance worries.

Finance 110

Finance 110

Speaker: Aaron Jacob, VP of Accounting Solutions & Reagan Cook, GTM Lead

Are you struggling to navigate the complexities and challenges that come with crypto accounting? 🤔 This new webinar will cover everything businesses need to know to get started with crypto accounting after incorporating crypto into their business models! Industry experts Aaron Jacob and Reagan Cook of TaxBit will thoroughly explore the prevalent operational hurdles encountered by accounting teams when interacting with crypto on the books, and detail how software solutions can effectively

Account

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 100

CPA 100

CPA Practice

JUNE 24, 2024

By Rocio Fabbro, Quartz (TNS) Gen Z is making less than millennials made a decade ago at the same age. As of the fourth quarter of 2023, Gen Zs aged 22 to 24 were making an average of $45,493. At that same age 10 years ago, adjusted for inflation, millennials were making $51,825, according to a recent study by TransUnion. And the debt-to-income ratio is 4 percentage points higher for Gen Z than millennials, coming in at 16.05% compared with 11.76%, the credit bureau found.

Michigan 96

Michigan Finance 96

Accounting Today

JUNE 24, 2024

Test your accounting knowledge on state by state tax burdens, M&A, and more. No. 2 pencil not required!

Account 119

Account accountant accounted Tax 119

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 72

cpa firm accounting and finance CPA Virginia 72

Advertiser: Paycor

There’s a new overtime salary threshold that will impact employers across the country. If you have an employee making less than $43,888 on July 1 or less than $58,656 on January 1, you’re going to have to start paying overtime. Download Paycor’s guide to learn: Which groups of employees are affected? How should you classify employees? Best ways to mitigate risk.

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 93

Tax corporation tax 93

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

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 70

Technology tax preparation Tax tax return 70

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

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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

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 Account accountant 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

Advertiser: Paycor

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

CPA Practice

JUNE 24, 2024

Bloomberg Tax & Accounting has added new integration between its fixed asset management system and Bloomberg Tax Workpapers that streamlines asset management and improves data accuracy. This new feature allows customers to leverage self-service automation to prepare, cleanse, and transform data from complex enterprise resource planning data directly into the Bloomberg Tax Fixed Assets system.

tax accountant 52

tax accountant Tax Account accountant 52

Insightful Accountant

JUNE 24, 2024

We understand how busy those few days can be, and it’s easy to miss out on seeing, hearing from, or visiting everyone you want to. That’s why we’re bringing the content to you. Join us on June 26 for the Scaling New Heights App Academy!

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52

CPA Practice

JUNE 24, 2024

It’s summer intern season at public accounting firms nationwide, but the interns at top 10 firm CLA (CliftonLarsonAllen) look even younger than the usual fresh-faced college students who walk the hallways and man the cubicles. That’s because CLA last week welcomed a second cohort of high school student interns, in addition to the more than 400 college-level interns who started in early June.

accounting careers 52

accounting careers accounting and finance public accounting accounting firms 52

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 52

Non-Profits accounting software Technology general ledger 52

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

CPA Practice

JUNE 24, 2024

Top 35 accounting firm Weaver promoted 17 team members to its partnership ranks on June 1. “We are proud to announce this new class of partners, highlighting the dynamic growth and success of our firm,” Weaver CEO and Managing Partner John Mackel said in a statement. “These 17 partners truly reflect the diversity of experience and geographical reach of our practices and industry groups.

Oklahoma 52

Oklahoma audit New York Management Consulting 52

Cherry Bekaert

JUNE 24, 2024

In this video, we provide an overview of FASB pronouncements that could affect not-for-profits in the near future. Learning Objectives: Recognize recently issued ASUs and exposure drafts that have a direct impact on not-for-profit institutions Describe changes that impact elements of financial reporting, credit allowances and accounting for crypto assets Review current FASB project lists Questions?

Account 52

Account accountant accounted 52

Anders CPA

JUNE 24, 2024

With the news of the impending reschedule, tax relief for cannabis companies is in sight: since IRS tax code 280E only applies to schedule I and II controlled substances, a reschedule to schedule III will remove the application of IRC code section 280E to cannabis businesses. This will significantly benefit cannabis retailers who currently can only deduct COGS, as protected by the 16th amendment.

Tax 52

Tax audit tax return CPA 52

Insightful Accountant

JUNE 24, 2024

NetSuite's new 'SuiteSuccess Healthcare Edition' is designed to enhance efficient and improve patient care by streamlining business processes, expanding insights, and enhancing decision-making while supporting HIPAA privacy and security requirements.

NetSuite 52

NetSuite Healthcare 52

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

Technology