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 accounted 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 207

Tax tax return CPA 207

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 200

financial statements CPA 200

Advertiser: Paycor

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

payroll

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 accounted Account 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.

accounted 197

accounted Account accountant CPA 197

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 175

Expense Reimbursements CPA 175

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

Accounting Today

JUNE 24, 2024

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

accounted 124

accounted Account accountant Tax 124

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.

accounted 98

accounted accountant Account audit 98

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

Account

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

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

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

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

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

Account

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

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

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

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

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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

financial statements

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

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 accounted 52

Speaker: David Warren and Kevin O'Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

Sales

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

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 accounted Account 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

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

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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

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

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

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?

accounted 52

accounted Account accountant 52

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.