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 264
Insiders

Sign Up for our Newsletter

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

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

Building a Business Case for Finance Automation

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.

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

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

GASB Issues New Guidance on Risk Disclosures

CPA Practice

The Governmental Accounting Standards Board has issued new guidance that requires state and local governments to disclose information about certain risks. Although such governments are required to disclose information about their exposure to some risks, such as interest and credit risk associated with investments, essential information about certain other risks that are prevalent among state and local governments is not routinely disclosed because it is not explicitly required.

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

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

Fall In Love With the Month-End Close

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.

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

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

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

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

Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

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.

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

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

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

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

Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

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.

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

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

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

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

Cash Flow Secrets Every Upskilled CPA Should Know

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.

article thumbnail

Prager Metis adds Goldsmith Molis & Gray

Accounting Today

The Top 60 Firm is expanding its footprint in North Carolina.

article thumbnail

Lisa McCarthy on Mastering Advisory Services and Cloud Migration Strategies

Insightful Accountant

Gary DeHart and Lisa McCarthy discuss the opportunities available to firms for growing an advisory services practice and how they are positioned to fill the role of advisor.

52
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

Ben Richmond on the Impact of Cash Flow on Small Businesses

Insightful Accountant

Gary sits down with Ben Richmond, Country Manager, US at Xero, to delve into the recent report on the profound impact of cash flow on small businesses.

52
article thumbnail

Profit in the Details: Rethinking Spend for Monumental Impact

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

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

Can’t Miss Conferences of 2024

Insightful Accountant

Start planning your conference season now and make sure you don't miss out on the best events of the year, despite tax season distractions.

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

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

Navigating Bleisure Travel: A Guide for Mid-Sized Companies

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.