Thu.Jan 11, 2024

article thumbnail

IRS to begin accepting business tax returns next week

Accounting Today

The official start date of tax season for individual taxpayers will be on Jan. 29, but the Internal Revenue Service plans to accept business tax returns as soon as Jan. 16.

article thumbnail

TikTok Shop and sales tax | TaxConnex

TaxConnex

Business explosions are often followed by money-making opportunities within those businesses. With TikTok, the red-hot display showcase of short videos and influencers with more than a billion monthly active users, that opportunity takes the form of TikTok Shop. The forum enables product discovery, checkout and post-payment activities from within the TikTok app.

Sales 234
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Illinois CPAs spot numerous issues with accountant retention

Accounting Today

Salary, burnout and work-life balance are among the factors affecting retention of accountants, according to a report from the Illinois CPA Society.

Illinois 137
article thumbnail

Commercial Real Estate Market Predicted to Rebound in 2024

CPA Practice

By Steve Brown, The Dallas Morning News (via TNS). The battered commercial property business will likely see a rebound later this year. That’s the forecast from top analysts at Dallas-based CBRE Group, one of the world’s largest commercial real estate firms. “We expect 2024 will be decidedly different for real estate investors,” Darin Mellott, head of Americas capital markets research for CBRE, which moved its headquarters to Dallas in 2020.

article thumbnail

Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, 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.

article thumbnail

Congress nears deal on $70B tax break for businesses, children

Accounting Today

U.S. congressional negotiators are nearing a bipartisan deal to renew expired business tax breaks and boost the child tax credit in time for many voters to receive the benefit during the current election year.

Tax 121
article thumbnail

The Funny 'Item' Checkbox to Make QuickBooks Items Two-Sided

Insightful Accountant

The magical 'checkbox' turns one-sided items into two-sided items allowing you to use the same item to sell and purchase, and making for proper reporting on item profitability.

More Trending

article thumbnail

SEC approves Bitcoin spot exchanges

Accounting Today

The Securities and Exchange Commission has approved several new Bitcoin-based exchange traded products, despite skepticism of the asset and its value, following an appeals court decision.

article thumbnail

Upgrading Your Traditional Bookkeeping with FP&A

AccountingDepartment

Every savvy business leader knows the value of having a well-run bookkeeping or accounting department. However, not everyone is aware of how important it is today to have a financial planning and analysis (FP&A) team to help back their business with effective and accurate financials.

article thumbnail

20 states that burden individuals the least

Accounting Today

The seven states that impose the least on residents have an individual income tax burden of 0.00%.

article thumbnail

Making Electronic Payments with NetSuite & AP Automation

MineralTree

Embracing electronic payments is necessary for businesses seeking to enhance efficiency, reduce manual errors, and improve financial control. However, accounts payable (AP) automation can make electronic payments in ERP systems , like Netsuite, much easier. AP automation technology enables streamlined and error-free payment processing while maximizing the potential of NetSuite electronic payments and accelerating ROI.

article thumbnail

Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

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.

article thumbnail

Harvard, MIT tax status probed by Congress over antisemitism

Accounting Today

The failure of the leaders of the Ivy League universities to condemn antisemitism could affect their tax-exempt status, the chairman of the House Ways and Means Committee said.

Tax 75
article thumbnail

Mortgage Rates Drop Slightly

CPA Practice

By Jeff Ostrowski, Bankrate.com (via TNS). The average rate on 30-year fixed mortgages ticked down to 6.94% this week from 6.96% the previous week, according to Bankrate’s weekly national survey of large lenders. Just a few months ago, the average rate on 30-year home loans topped 8%. But mortgage rates dropped after the Federal Reserve indicated it’d begin cutting its key rate in 2024.

Sales 64
article thumbnail

Secure the future by transforming your firm's business model

Accounting Today

Is a legacy firm one that follows tradition, or one that's interested in maintaining its legacy for years to come?

article thumbnail

Car Insurance Costs Rise 20 Percent

CPA Practice

By Michael Sasso, Bloomberg News (via TNS). There’s no relief in sight for U.S. car owners who’ve faced soaring costs of maintaining a vehicle in the past two years. Prices of motor-vehicle insurance rose 20.3% in December from a year earlier, the biggest jump since 1976, according to the Bureau of Labor Statistics. That was the 16th straight month of annual gains exceeding 10%.

Maine 64
article thumbnail

Back to Basics with Reconciliations

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.

article thumbnail

SEC OCA Seeks PAF

Going Concern

The Securities and Exchange Commission (SEC) Office of the Chief Accountant (OCA) is accepting applications for Professional Accounting Fellow (PAF) positions that will begin this summer. On the off chance one of you might be interested in this, here’s the info. The PAF program, which began in 1972, is designed to provide participating fellows with outstanding opportunities for public service and professional development.

audit 59
article thumbnail

AICPA and CIMA Accepting Applications for Accounting Educator Awards

CPA Practice

The AICPA & CIMA have opened the application period for the EDGE in Teaching Awards and Distinguished Achievement in Accounting Education Award. The two awards highlight accounting educators at the college level for their outstanding achievements in the field, and for their contribution to shaping the best new talent for the profession. As the profession grapples with a talent shortage, the AICPA & CIMA are committed to boosting the pipeline of talented, passionate professionals entering

article thumbnail

Future of AI and RPA: Integration in Modern Business

LSLCPAs

In today’s rapidly advancing business world, the integration of Artificial Intelligence (AI) and Robotic Process Automation (RPA) is leading a transformative shift in how companies operate and compete. These technologies, once on the fringe of futuristic speculation, have now become central pillars for driving operational efficiency and securing a competitive edge in the market.

article thumbnail

Prager Metis Merges in Goldsmith Molis & Gray

CPA Practice

Top 60 accounting firm Prager Metis has expanded its presence in North Carolina by combining with Asheville-based Goldsmith Molis & Gray, a full-service tax, accounting, payroll, and consulting firm. Financial terms of the deal, which became official on Jan. 1, weren’t disclosed. Joe Molis, Allen Gray, and Crystal Goldsmith have joined Prager Metis as partners, and George Gabler and Steven Foster have joined as principals.

article thumbnail

Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

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

article thumbnail

Additional S&P 500 30-Year Charts

Withum

I find the following information interesting and informative and put them in charts for easy viewing. The charts start with 1990 and go through the end of 2023. The chart with the annual sales growth starts in 2001. I prepared the charts, but the underlying data came from Multpl , which has a ton of additional information and statistics, and I recommend checking it out.

Tax 59
article thumbnail

Professionals on the Move – Jan. 2024

CPA Practice

Professionals on the Move is a round-up of recent hiring and promotion announcements from around the profession. Kavanagh joins CohnReznick as Assurance Partner CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, recently announced that Charles (Chuck) Kavanagh , CPA has joined the firm as an assurance partner.

article thumbnail

The Emerging World of Tokenization: Opportunities and Challenges

Withum

In the realm of finance, a revolutionary trend is emerging: tokenization. This process involves converting real-world assets into digital tokens, a concept gaining traction worldwide. As reported by Bloomberg, the Philippines Bureau of the Treasury’s recent decision to offer 10 billion pesos ($179 million) of tokenized treasury bonds marks a significant step in this direction.

article thumbnail

Tax Fraud Blotter: Good people

Accounting Today

Not so amusing; in the rough; interior designs; and other highlights of recent tax cases.

Tax 78
article thumbnail

Harness the Potential of Your Enterprise Knowledge

The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.

article thumbnail

Murph on Intuit's Announcements at QuickBooks Connect 2023

Insightful Accountant

Join William Murphy, Sr. Technical Editor of Insightful Accountant, in this special episode of the Accounting Insiders Podcast as he shares top takeaways from QuickBooks Connect 2023!

article thumbnail

2024 State of the Firm Kicks Off Withum’s 50th Anniversary Celebrations

Withum

Withum held its annual State of the Firm on January 9, 2024, at the New Jersey Performing Arts Center (NJPAC) in Newark, NJ. Team members from all over the country gathered to hear the latest updates and projections across Advisory, Tax and Audit Services as well as Firm Operations. Pat Walsh , Managing Partner and CEO, moderated panels of Firm leaders in a new fireside chat-style format that gave attendees a front-row seat to conversations and insights about the future of Withum relating to AI

article thumbnail

Tax Practice News: Don't Screw Up Your S Corps | Webinar Archives

Insightful Accountant

Form 7203 compliance could be an easily overlooked form this tax season. Not all tax software or all preparers are aware of the form’s filing requirements or when they need to be prepared. Discover more in this webinar replay!

Tax 52
article thumbnail

Beneficial Ownership Reporting in 2024

Dent Moses

The Corporate Transparency Act (“CTA”) was a significant piece of U.S. legislation signed into law in January 2021. The CTA was created to address issues related to money laundering, fraud, and other financial crimes, including those committed by anonymous shell companies. Shell companies are set up without revealing their true owners and can be exploited for illegal activities due to a lack of transparency.

article thumbnail

Solve Your Firm's Automation Complexities Once and For All

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.

article thumbnail

Tax Practice News - New IRS WISP Requirements | Webinar Archives

Insightful Accountant

A WISP (Written Information Security Plan) is required for tax and accounting professionals. Lucky for you, Christine Gervais did a webinar on this topic a few months ago and we’re bringing it back around for your viewing.

Tax 52
article thumbnail

Canopy Launches Practice Success Podcast for Accounting Firms

CPA Practice

Canopy , a maker of accounting practice management software, has launched its new podcast, “Canopy Practice Success.” The podcast features interviews with top accounting profession thought leaders and firm owners. Learn from industry experts on Canopy’s Practice Success Podcast In each episode of the Practice Success Podcast, Canopy takes a deep dive with accounting professionals, exploring their career trajectory, extracting advice for firms, and discussing the latest trending topics.

article thumbnail

Creating a Future-Focused Secure Firm | Webinar Archives

Insightful Accountant

Accountants can enhance their firm's security without being IT specialists. By creating a security partnership with Swizznet, they can share resources and expertise to protect against cyber threats and data breaches during tax season wrap-up.

Tax 52
article thumbnail

Tax Tips from the Illinois CPA Society

CPA Practice

Tax season officially starts Jan. 29, 2024, when the IRS begins accepting and processing tax returns for the 2023 tax year. With the IRS anticipating receiving nearly 129 million individual tax returns by the April 15, 2024, deadline this season, getting an early start on prepping yours may be best. The Illinois CPA Society offers these tips for speeding up the filing process: Gather all your information first.

article thumbnail

It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.