Tue.Jun 11, 2024

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Accounting Firm Leaders Discuss Challenges/Benefits of a Remote Workforce

ThomsonReuters

Employers and payroll professionals face a complex web of challenges while managing remote and hybrid work arrangements, particularly concerning state income tax withholding and compliance with varying state labor laws. However, implementing clear policies, fostering effective communication, and leveraging technology can help organizations navigate the ever-evolving landscape of remote and hybrid work.

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How to register for states’ sales tax

TaxConnex

Do you need a state sales tax permit? How about a sales tax license? How about a sales tax certificate of authority? Did you know they’re all the same thing? How do you spell “FEIN” anyway, and when do you need one to sell into a state? Collecting and remitting sales tax after you hit economic or physical nexus in a state comes with a lot of questions – and you usually answer no small number of questions to register for sales tax.

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Estimating Your Startup’s Total Addressable Market (TAM)

BurklandAssociates

A clear grasp of TAM can be the difference between securing essential funding and falling short. The post Estimating Your Startup’s Total Addressable Market (TAM) appeared first on Burkland.

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Execs say most companies won't last 10 years with current business model

Accounting Today

A new PricewaterhouseCoopers survey reveals executives think reinventing the business model is essential for companies' survival amid an increasingly risky business environment.

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How to Easily Navigate Crypto Accounting in the Web3 Era

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

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In-Person Jobs Are Paying Nearly 40% More Than Last Year

CPA Practice

By Sarah Lynch, Inc. (TNS) If you want employees in the office, you might need to splurge on their salaries. The average salary for in-person roles in the U.S. has risen to $82,037 so far in 2024—an almost 40 percent increase from the 2023 average, according to new ZipRecruiter data. While salaries for hybrid and remote jobs have also increased, the boost isn’t nearly as staggering: 9 percent for remote jobs and 11 percent for hybrid.

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SEC taps Williams for second term at PCAOB

Accounting Today

The Securities and Exchange Commission has reappointed Erica Williams to another term as chairperson of the Public Company Accounting Oversight Board.

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More Trending

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340B Drug Pricing Disputes: A Closer Look at the New ADR Process

Withum

The 340B Drug Pricing Program allows eligible healthcare organizations and covered entities to access outpatient drugs at significantly reduced prices. It provides discounted medications to safety-net providers, such as hospitals, clinics, and health centers, which serve uninsured and low-income patients. The 340B Administrative Dispute Resolution (ADR) process is designed to assist 340B covered entities and 340B drug manufacturers in resolving disputes regarding 340B covered drug pricing.

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Tax Strategies for Real Estate Investing: Converting a Residence to a Rental Property

CTP

Real estate is an attractive investment opportunity, but investors need to be prepared for potential taxes to truly maximize their profits. New investors may be unaware that taxation differs depending on how they acquired the property and how it is being used. Common means of acquiring a property include simply purchasing it, inheriting it, or receiving it as a gift—and each comes with its own tax implications.

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5 IRS developments to watch

Accounting Today

The Internal Revenue Service has announced several new policy updates now that tax season has ended.

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You Shouldn’t Fear an IRS Audit if You Do Your Homework

CPA Practice

By Matthew Chancey, CFP, Kiplinger Consumer News Service (TNS) Audit. The word strikes fear in many people. They dread the scrutiny, penalties and other unfortunate outcomes when the IRS questions the accuracy or the veracity of their tax return. The IRS recently announced its plans to significantly ramp up tax audits on the wealthiest taxpayers, large corporations and large, complex partnerships for tax year 2026.

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New DOL Final Overtime Rules: Quickstart Guide for Employers

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.

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We Think We Know Who’s About to Do a Big PE Deal

Going Concern

So FT ran this yesterday: ‘ Private equity groups poised to own one in three top US accounting firms ‘ and in it, they paraphrased people familiar with the matter as saying “ten of the 30 largest US accounting firms could soon be in private equity hands.” The article goes on to say: The acquisitions by financial buyers of those two top-10 firms by revenue opened the floodgates to other deals, the people said, positioning private equity to increase its influence over the U

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Help business owners with exit planning, philanthropy

Accounting Today

Here's a smart way to add long-lasting value to your client relationships.

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Erica Y. Williams Gets Another Five Years to Write Scathing Op-Eds About Sloppy Audit Firms

Going Concern

The SEC announced today that current PCAOB Chair Erica Y. Williams has been appointed for a second term that begins on October 25, 2024 and ends on that same day in 2029. She’s been in the big chair at the PCAOB (no pun) since January of 2022 after she was brought in after a bit of a coup involving her predecessor William Duhnke. So this will be her first full five-year term.

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Tax-planning certification rolling out as wealth and tax divide narrows

Accounting Today

Jeffrey Levine and The American College of Financial Services hope to help more financial advisors branch into the related but historically separate field.

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Thinking About How To Lessen Your Burden During Month-End Close? Skystem Can Help!

Most people dread the nearing of the month-end close and reconciliation process, and who can blame them? It's typically a tedious, long, stressful process; but it doesn't have to be. Implementing automation into your month-end process can significantly reduce this headache by automating up to 40% of your reconciliation and saving nearly 30% of your time spent.

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Accountant Approved Apps Disappointing

Insightful Accountant

Intuit recently launched something they are calling Accountant Approved Apps; I must say that I was somewhat disappointed by these 'groupings.

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Overtime rule draws fire from business groups

Accounting Today

A variety of business groups have been filing lawsuits to stop the Department of Labor's overtime rule, which is set to go into effect on July 1.

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Research & Development (R&D) Tax Credits: What Technology Companies Need to Know

Withum

The R&D tax credit is a tax incentive that encourages companies to invest in research and development activities in the United States. The credit is available to businesses that engage in qualifying R&D activities, such as developing new or improving existing products, processes or software. For technology companies in the United States, there have been several recent changes to the R&D tax credit: Permanent extension of the credit: The R&D tax credit has been permanently extende

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IRS tries to downsize extra office space

Accounting Today

The Internal Revenue Service has been making efforts to reduce the overall amount of space it rents, but it nevertheless has lots of unnecessary space that it's paying hundreds of millions of dollars for every year.

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How to Build the Ideal HR Team

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.

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Bench Time: Emerge Stronger from a Slow Pipeline

Summit CPA

We’ve been talking a lot about pipeline recently because it’s top of mind for the industry. It can be a tough subject because it ties directly into capacity and an agency’s beating heart: its people.

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Staying Ahead of the Curve: A Guide to Upgrading Your Clients' Accounting Software

Insightful Accountant

Clients have access to cutting-edge accounting software solutions for efficiency! Stay ahead in the evolving landscape by equipping clients with secure tools. Out of the Box recognizes this need.

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How to Help Clients Set up a Payment Plan With the IRS

Patriot Software

Do you have a client who can’t pay their tax bill? You may need to help them set up a payment plan with the IRS. A payment plan, such as an installment agreement, generally decreases penalties and prohibits the IRS from levying assets.

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Erica Williams Gets Second Term as PCAOB Chair

CPA Practice

The Securities and Exchange Commission (SEC) has reappointed Erica Williams to a second term as chair of the Public Company Accounting Oversight Board (PCAOB), a move that signals stability at the audit regulator following the dismissal of its previous chairperson by SEC Chair Gary Gensler three years ago. Williams’ second term begins on Oct. 25 and concludes on Oct. 24, 2029, the SEC said on Tuesday.

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Planning Your Restaurant's Path to Profitability

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.

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Free Webinar: Decoding 280E and Current Developments

Anders CPA

Register for the 06/12/2024 webinar! Register Now Please join us as we discuss the underpinnings of section 280E and how it is currently functioning in our tax system. We will discuss the position that Gonzales v. Raich is no longer good law and Section 280E does not apply to the current cannabis industry, the intersection of the 471(c) accounting method and Section 280E, and the possibility that past Section 280E costs may be deducted with rescheduling.

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Thomson Reuters and SAP Partner for Automating Tax Reporting

CPA Practice

Thomson Reuters, a global content and technology company, has expanded its partnership with SAP as it integrates ONESOURCE Sales & Use Tax Compliance with SAP Document and Reporting Compliance for SAP S/4HANA. The new integration supports businesses using SAP technologies with automating and filing sales and use tax returns in the United States directly from SAP Document and Reporting Compliance via a unified user experience, helping to streamline processes, save time, and support accuracy i

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The Employee Retention Credit: 2024 Updates

Cherry Bekaert

Watch this video to learn about the most recent ERC updates from the Internal Revenue Service (IRS) and what to watch for in the next year before the final application deadline. During this webinar, Cherry Bekaert’s Tax Credits & Incentives Advisory speakers will discuss how to help business owners understand if they qualify for the 2021 ERC so they can take advantage of this tax incentive while adhering to the guidance that the IRS has provided before the final application deadline in April

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Here Are the 40 Elijah Watt Sells Award Winners for 2023

CPA Practice

The AICPA last week announced the 40 winners of the 2023 Elijah Watt Sells Award, granted to CPA candidates who obtain a cumulative average score above 95.50 across all four sections of the Uniform CPA Examination, pass all four sections of the exam on their first attempt, and completed testing in 2023. According to the AICPA, more than 86,000 individuals sat for the CPA exam last year.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

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

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Your Guide to Getting the Most Out of Dreamforce 2024

Accounting Seed

Top 5 Tips for Your Dreamforce Experience Dreamforce —Salesforce’s most-loved user conference—has been a highlight for many business professionals since its inception in 2003. This year, Dreamforce is taking place in San Francisco from September 17-19 at the Moscone Center. From on-site training and networking opportunities to exciting concerts and parties, Dreamforce brings no shortage of valuable experiences for Salesforce administrators, developers, partners, users, and prospects alike.

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Missouri Appeals Court Upholds Lower Court Ruling on St. Louis City Earnings Tax Refund

Anders CPA

Non-St. Louis City residents working for St. Louis city employers may be eligible for earnings tax refunds when working remotely from home. A January trial court decision said non-city residents should receive a refund for earning taxes paid while working remotely for city-based businesses. During the COVID-19 pandemic, some non-residents who worked in the City of St.

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What an Attorney Looks For in an Expert Witness

FraudFiles

Attorney Miles Mason talks about the characteristics he looks for in a potential expert witness, including qualifications, ability to explain concepts, and demeanor.

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In the blogs: Subtle yet significant 

Accounting Today

What clients like to believe; Tax Court fun; auditing REITs; and other highlights from our favorite tax bloggers.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.