Mon.May 20, 2024

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A Grassroots Movement for The Regenerative Accountant

CPA Practice

By Mathew Heggem. The world is witnessing a shift towards regenerative practices in various sectors – from agriculture to fashion, from construction to consumer goods. But there’s one industry that is often overlooked, yet holds the power to catalyze profound change: the accounting industry. I believe it’s time for this sector to embrace the regenerative movement; and with a growing number of other leaders in the industry, we’re nurturing this shift from the ground up.

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An Introduction to NIL and Its Impact on College Athletics

Cherry Bekaert

Contributor: Anthony Kocheran While in school, University of Iowa basketball player Caitlin Clark netted more than $3 million from name, image and likeness (NIL) deals. She’s far from the only college athlete taking advantage of NIL, a legal concept revolutionizing the way student-athletes can earn money while attending a college or university. Essentially, NIL allows college athletes to monetize their personal brand by profiting from their name, image and likeness through various opportunities,

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Art of Accounting: Data focus plan

Accounting Today

Strategic planning meetings and retreats for the firm should be free of distractions to be successful.

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Regulatory Compliance Digest | April 2024

Cherry Bekaert

View Full Report The Regulatory Compliance Digest’s April issue provides a summary of the latest updates from FFIEC, FinCEN, CFPB, FDIC and federal bank regulatory agencies. This issue also includes hot topics and the latest developments in the regulatory compliance space. The Regulatory Compliance Digest is intended to keep you informed of regulatory changes in advance of their effective date, so your institution can evaluate changes or updates to necessary policies, procedures and processes in

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A Quick Historical Bookkeeping Cleanup

Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

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Monday Morning Accounting News Brief: Big 4 Firms Hate Going Concern (Warnings, That Is); Being a Whistleblower Blows | 5.20.24

Going Concern

Rise and shine, a new week is upon us. Here’s some stuff going on. PwC Australia is in court arguing that it isn’t responsible for sexual assault that happens off campus after hours and especially not so because the alleged assaulter completed two sexual harassment learning modules. Employers can be found vicariously liable for alleged sexual assault that occurred between employees outside working hours but only where it was connected with their employment, according to a leading emp

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M&A roundup: KSM, Eide Bailly, Forvis and Avantax expand

Accounting Today

Katz, Sapper & Miller is adding Cassady Schiller; Eide Bailly merged in Edward White & Co.; Forvis plans to acquire ConTech360; and Avantax acquired GA Investment Management.

More Trending

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The Fundamentals: Practice management systems

Accounting Today

In this first installment of The Fundamentals, we asked firm leaders and tech experts the basics of selecting a practice management system.

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Cetrom Launches Complete Managed Security Services Offering for Accounting Firms

CPA Practice

Cetrom , a managed security services provider (MSSP) and cloud solutions provider for accounting firms, has announced its Complete Managed Security Services solution offering. Over the past five years, Cetrom clients have benefited from MDR and EDR at the server level. Cetrom has partnered with one of the leading security solution providers to deliver MDR and EDR outside the Cetrom-hosted environment to the client’s local device level, providing a Complete Managed Security Solution for CPAs.

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5 tax strategies that pay off in real estate and homeownership

Accounting Today

Changes in residency, qualified personal residence trusts and other methods cited by experts carry big savings — with some caveats.

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Wolf & Company Adds Treehouse Technology Group

CPA Practice

Top 100 accounting firm Wolf & Company has acquired Boston-based Treehouse Technology Group and its prized data analytics tool InsightOut. Financial terms of the deal weren’t disclosed. Founded in 2014, Treehouse Technology Group is a technology strategy and custom solutions development firm that provides both product and strategy consulting, as well as the technical implementation and project execution to carry out these strategies.

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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Leveraging IRS Online Tools

Insightful Accountant

The Internal Revenue Service (IRS) has been steadily expanding its suite of online tools and services for tax practitioners, aiming to streamline processes and improve efficiency.

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Many California Tax Refund Debit Cards Have Still Not Been Activated

CPA Practice

By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) California’s Middle Class Tax Refund (MCTR) program provided eligible Californians with one-time inflation relief payments. The California “stimulus” payments began two years ago and continued until January last year. However, despite more than 9.5 million debit cards containing refund money being sent to eligible Californians, data show millions of dollars in benefits remain unspent.

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How to stand out as a fintech start-up

Menzies

Menzies LLP - A leading chartered accountancy firm. Originally published in FinTech Finance on 26 February 2019 Although the sector as a whole does not struggle in securing investments, if fintech start-ups want to attract the attention of bigger financial services brands, they will have to work harder than ever to stand out within a fintech market that continues to produce some excellent businesses.

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Expensify Offers Unlimited Virtual Cards for Business Spend Management

CPA Practice

Expensify, Inc., a maker of financial management apps and corporate spending cards, has launched unlimited virtual cards with the Expensify Visa Commercial Card. With this addition to the platform, Expensify empowers businesses to take control of their spending with unparalleled flexibility and precision. Expensify members can now issue an unlimited number of virtual cards, providing unmatched flexibility in managing expenses across employees and merchants.

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Digital Transformation in Accounting: Why It’s Essential for Modern Firms

Accounting firms must embrace digital transformation to stay competitive. From improving efficiency and client experience to ensuring data security, digital tools offer the edge needed in a digital-first world. Discover how Fincent can streamline your transition. The accounting industry faces a digital revolution. As technology reshapes business, firms must adapt or risk obsolescence.

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Penalty can’t be imposed on the employee as they are not registered or taxable person

VJM Global

Held by Hon’ble High Court of Bombay In the matter of Shantanu Sanjay Hundekari Vs. Union of India(WRIT PETITION (L) NO. 30198 OF 2023) The Petitioner is an employee of a Company M/s MLIPL, which is appointed as steamer agent of M/s Maersk. The petitioner was assisting M/s MLIPL against GST Compliance and was holding power of attorney to represent before tax authority on behalf of M/s Maersk.

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WEBINAR | Steer Clear of These Common Errors in Adverse Action and Loan Servicing

Anders CPA

Wednesday, June 26 at 10:00 am CT Avoid regulatory risks from adverse action notices and resolve loan servicing errors before they negatively impact your organization. Errors in your adverse action or loan servicing procedures can negatively impact your financial institution’s relationship and reputation with borrowers. These errors can also lead to increased regulatory risks, hefty fines and even lawsuits.

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Penalty can’t be imposed on the employee as they are not registered or taxable person

VJM Global

Held by Hon’ble High Court of Bombay In the matter of Shantanu Sanjay Hundekari Vs. Union of India(WRIT PETITION (L) NO. 30198 OF 2023) The Petitioner is an employee of a Company M/s MLIPL, which is appointed as steamer agent of M/s Maersk. The petitioner was assisting M/s MLIPL against GST Compliance and was holding power of attorney to represent before tax authority on behalf of M/s Maersk.

Legal 52
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10 “Dos and don’ts” in accounting automation for your business

Reckon

Guest Post by Pohan Lin. Accounting tasks have long earned notoriety for their slow, manual nature. All that is now set to change, as accounting is one of the areas where automation can bring the biggest benefits. Admittedly, changing the way things have always been done is nerve-wracking. But there are some basic dos and don’ts you can follow to make sure your automation initiative runs as smoothly as possible.

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2024 Annual Trends Survey: Expense Management Insights

Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.

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IRS Audits of High-Net-Worth Individuals – The Case of “Getting Around to It” and the Missing Tax Returns

Withum

Have you been too busy to file your tax return for multiple years and just couldn’t get around to it? Was your income during those years more than $400,000? Have you recently received a letter inviting you to file back tax returns? If you answered yes to those questions, you are among a select group of 125,000 taxpayers. The Internal Revenue Service (IRS) knows who you are, and you have their undivided attention!

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Eide Bailly to Merge in Edward White & Co. Next Month

CPA Practice

Nearly two weeks after it announced a union with top 300 accounting firm Apple Growth Partners effective June 24, Eide Bailly said last Friday it was merging in Woodland Hills, CA-based CPA firm Edward White & Co. Financial terms of the deal, which is expected to become effective on June 1, weren’t disclosed. Jeremy Hauk “Edward White & Co. LLP has achieved great success and earned high respect,” Jeremy Hauk, managing partner and CEO of top 20 accounting firm Eide Bailly, said in a state

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Hemp Market Developments: Integration and Regulation

Anders CPA

All cannabinoids, whether derived from hemp, marijuana, or bio synthesis should be subject to the same regulatory measures according to their use. However currently the Delta-8 and Delta-9 product you can find at a liquor store has a very different regulatory pathway than the gummy one would take recreationally because of the Farm Bill, which created a loophole for hemp and hemp-derived products.

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KSM to Join Forces With Cincinnati Firm Cassady Schiller

CPA Practice

Top 60 accounting firm KSM (Katz, Sapper & Miller) is expanding into Ohio as it is set to add Cincinnati-based CPA firm Cassady Schiller on May 31. Financial terms of the deal weren’t disclosed. Cassady Schiller, which is ranked among Greater Cincinnati’s top 10 largest accounting firms, brings more than 70 employees and eight partners to KSM, including Managing Partner Mike Clark and Chief Operating Officer Heather Bucher, who will serve as co-managing partners of KSM’s new Cincinnati offic

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Unlock The Power Of The CFO Toolkit

Speaker: Duke Heninger

With the rise of fractional finance roles, many CFOs, FP&A professionals, controllers, and accountants are stepping into independent consulting. The expansion of fractional services presents new opportunities for finance professionals, but many face challenges in navigating this transition, finding it daunting. Whether you’re new to fractional work or refining your approach, this webinar will equip you with a repeatable system for success.

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Anders Voted Top Winner in Business Accounting Partners and Top Three in Forensic Accounting by Missouri Lawyers Media Readers

Anders CPA

The 2024 Reader Rankings from Missouri Lawyers Media has selected Anders as a Business Accounting Partner top winner in the Financial category. Anders was also honored as a top three in Forensic Accounting under the Firm Management Services category. Missouri Lawyers Media readers nominated and selected winners in an annual ranking of businesses and firms in the legal profession.

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Deferred Revenue and its Impact on your Small Business

Ronika Khanna CPA,CA

Table of Contents What are Revenues and Why Accuracy is Essential Most small business owners are familiar with the concept of revenues, which is essentially the total sales of their product or service, to customers and clients, prior to deducting any costs. Revenues are a crucial component of business’ profit and loss statement and it is essential that they are accurate so that the business owners may effectively analyze the profitability of their businesses.

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WEBINAR | Steer Clear of These Common Errors in Adverse Action and Loan Servicing

Anders CPA

Wednesday, June 26 at 10:00 am CT Join advisors from the Startup and Entrepreneurial Services team to discuss findings from the inaugural Anders Startup Funding and Outlook Survey Report Errors in your adverse action or loan servicing procedures can negatively impact your financial institution’s relationship and reputation with borrowers. These errors can also lead to increased regulatory risks, hefty fines and even lawsuits.

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Caseware Launches Cloud-Based Financial Reporting Solution: Caseware Financials

Accounting Insight

Caseware International , a global leader in cloud-enabled audit, financial reporting and data analytics solutions, today announced the launch of Caseware Financials for the UK market. The new innovative cloud-based application marks a significant milestone in Caseware’s commitment to empowering accounting practitioners worldwide to work smarter and more efficiently.

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Pricing for Profit: How to Set, Negotiate, and Succeed

Speaker: Igli Laci, Strategic Finance Leader

In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a

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Using Tax Return Information in Divorce Cases

FraudFiles

Income tax returns and supporting information such as W-2s and pay stubs are the most common and basic documents which evidence income in family law cases. This article discusses the sources of income that are disclosed on a personal income tax return (Form 1040), and some ways the items can be evaluated to search for [.

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Day 2 of Future Forward is Tomorrow, May 22, 2024

Insightful Accountant

The second day of this spring's Future Forward is tomorrow, May 22, 2024. Another power packed day of education with 'Free' CPE.

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Layoff Watch ’24: Crowe Cut Some People on Friday, Here’s What We Know

Going Concern

According to a tipster and chatter on Reddit that’s been brewing for a couple weeks now , Crowe made a three percent reduction of force on Friday. We’re told a large number of these people were internal-facing and consulting though layoffs weren’t limited to just them. Affected staff found out on Friday and the news was confirmed to survivors in a firmwide call today.

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Sage 50 – the Misunderstood Sage Accounting Solution

Insightful Accountant

Sage 50 Desktop Accounting Solution is also Sage 50 Cloud Accounting Solution.

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3 Steps to Successful & Strategic Year-End HR Planning

Year-end can be a hectic time for HR professionals, but with proper planning and organization, you can navigate it smoothly. Learn the main watch outs for year-end HR prep with Paycor’s helpful checklist covering employee data, wage and tax information, and special situations. Ensure compliance and efficiency by downloading today!