Tue.Sep 24, 2024

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Keeping SST benefits – including freebies – isn’t automatic

TaxConnex

Wouldn’t it be great if you, a seller in multiple states, could get free sales tax calculation and reporting? Sure would – and that’s long been the draw for becoming a “volunteer seller” in Streamlined Sales Tax (SST) states. Does everyone qualify? And even if you do, how do you make sure to maintain no-cost sales tax calculation and reporting services?

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How Outsourced CFO Services Boost Financial Performance for Smaller Investment Firms

BurklandAssociates

Outsourced CFO services provide firms with expert financial support, helping partners stay focused on smart investments and strategic growth. The post How Outsourced CFO Services Boost Financial Performance for Smaller Investment Firms appeared first on Burkland.

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A glimpse into the future of accounting

Accounting Today

Five major trends and key takeaways from Bill's Accountant Partner Council.

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Unsubstantiated Conspiracy Theory of the Day: The AICPA Wants You to Fail the CPA Exam

Going Concern

The AICPA, NASBA, and state boards make the CPA exam harder than it needs to be because they make more money off exam fees when you fail. That’s the (totally unconfirmed) tinfoil theory thrown out here by a user of r/CPA : Tinfoil hat – Personally feel like it’s a money grab, AICPA/NASBA/State Boards purposely don’t tell you what questions you got wrong and how they grade the tests so it’s not about application of what you know, it’s more about memorizing as much as you can while hop

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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.

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Sales tax holidays: Boon or bust?

Accounting Today

They're great for customers, but these annual events are not necessarily great for retailers.

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The Road to Commercial Property Tax Savings: Preparing to Appeal an Assessment

CTP

Want information on residential property assessment appeals instead? Read here. Working with property owners can be a lucrative investment—both for your client and for you as a tax professional. To ensure that their income-producing property isn’t losing a huge chunk of its income to taxes, property owners need the support of someone who knows where the tax savings opportunities lie.

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More Trending

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Consumer Confidence Fell Most in Three Years in September

CPA Practice

By Jarrell Dillard Bloomberg News (TNS) U.S. consumer confidence unexpectedly fell in September by the most in three years on concerns about the labor market and the outlook for the broader economy. The Conference Board’s gauge of sentiment decreased 6.9 points to 98.7, the biggest drop since August 2021, data out Tuesday showed. The figure was below all estimates in a Bloomberg survey of economists.

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Stop being so faithful to your old ideas

Accounting Today

Learn to be intellectually promiscuous.

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How to Avoid Scams While Job Hunting

CPA Practice

Kimberly Palmer NerdWallet The Oakland Press, Sterling Heights, Mich. (TNS) When you’re hunting for work, a text alerting you to a new listing that sounds like your dream job could be your big break. But it could also be a scam designed to steal your personal information and money. “Employment scams have been around for awhile, but as technology like AI advances, we’ve seen more scammers try to take advantage of job seekers,” says Toni Frana, lead career expert at FlexJobs, an online platform fo

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EY UK Partners Warned Again Pay Will Suck This Year

Going Concern

Poor EY partners, ever since Project Everest fell apart they’ve really been struggling. While we await EY revenue numbers that should drop some time next month, sources inside EY are running to The Times to say partners are being warned of a second year of pay cuts ahead. Partner pay at EY is set to fall for the second year in a row while senior staff will forgo a pay rise, in a sign that professional services firms are still battling a downturn.

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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.

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IRS Revises FAQs on Premium Tax Credit

CPA Practice

The IRS has updated a section in its frequently asked questions about the Premium Tax Credit, a refundable credit that helps low- and moderate-income individuals and families afford health insurance premiums. These FAQs supersede earlier ones that were posted in Fact Sheet 2024-04 on Feb. 9, 2024. In Fact Sheet 2024-30 , which was released by the IRS on Sept. 19, a revision was made under the “Affordability of Employer Coverage for Employees and for Family Members of Employees” section, specifi

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ADC Attends HubSpot INBOUND 2024!

AccountingDepartment

Last week, Andrea and Mike of AccountingDepartment.com's Marketing Team, traveled to Boston for HubSpot's INBOUND show.

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Debby victims in Pennsylvania get tax relief

Accounting Today

The Internal Revenue Service is postponing filing and payment deadlines for those impacted by the tropical storm.

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Report Says Digital Disruption and Climate Change Are Fastest-Growing Risks for Organizations Worldwide

CPA Practice

Digital disruption and climate change have emerged as the two fasting-growing risk areas for organizations across industries, according to The IIA’s Internal Audit Foundation’s latest Risk in Focus research. Based on feedback from more than 3,500 internal audit leaders around the world, global risk levels for digital disruption and climate change are projected to increase 20 percentage points and 16 percentage points, respectively, over the next three years – far outpacing other risk areas.

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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.

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In the blogs: Thought, politics, repeat

Accounting Today

Relative accuracy; biggest cyberthreats; end-of-year meetings; and other highlights from our favorite tax bloggers.

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AICPA Looks to Amend Standard on Financial Statement Preparation

CPA Practice

The AICPA is seeking to amend its standard related to financial statement preparation, which would clarify that a CPA wouldn’t be required to apply AR-C Section 70, Preparation of Financial Statements, when financial statements are prepared as a byproduct of a client advisory services (CAS) engagement. The exposure draft of the proposed Statement on Standards for Accounting and Review Services (SSARS) can be reviewed here.

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SEC charges tech CEO with $30M fraud

Accounting Today

The software company co-founder allegedly raised more than $30 million by falsely claiming the company had millions of dollars in annually recurring revenue.

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Why Your Business Needs a Sales Tax Software Tune-Up

Cherry Bekaert

Contributor: Tiffany Rodi, Sales & Use Tax Senior Manager Keeping Up With the Ever-Changing Sales Tax Landscape Sales tax compliance is a complex and dynamic area that requires constant attention. Collecting and remitting sales tax can be time-consuming and confusing, especially if you operate in multiple states. Failing to do so can lead to errors, audits and fines that can be costly for businesses.

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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.

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Bridging Trust in AI Systems: The Importance of Explainability and Thinking Traces

Withum

The Quest for Explainability and Thinking Traces in OpenAI’s New O1 Model and Beyond We’ve posted a lot on the new OpenAI O1 / Strawberry / Q* model in the past 24 hours. Generally, we avoid using marketing-sounding phrases like “evolutionary” or “qualitatively different,” but this release does stand apart from everything that came before it in the last 12 months.

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Building an AI-ready firm: Strategies for responsible integration and growth

ThomsonReuters

Jump to ↓ Understanding AI’s impact Step 1: Cultivating an AI-savvy culture Step 2: Developing an AI roadmap Step 3: Implementing AI responsibly Are you ready to become an AI-ready firm? As AI becomes an integral piece of everyday workflow for professionals across all industries, many accounting firms are finding ways to leverage this game-changing technology for increased efficiencies, deeper insights, and a competitive edge.

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54th GST Council Meetings| Amendments and Clarification for Facilitation of Trade

VJM Global

The 54th GST Council meeting was held on 9th September 2024 under the chairpersonship of the union minister for Finance & Corporate Affairs and was also attended by the union minister of finance of some states. During the meeting many of the issues faced by the industries were addressed such as clarification on the applicability of GST rate on some goods and services, recommended issuance of circulars on amnesty scheme for demand notice issued under section 73, implementation of section 16(5

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Murph's "Scoring Your Best" is Today

Insightful Accountant

If you are even thinking about participating in the 2025 ProAdvisor Awards you won't want to miss this session where Murph provides tips on how you can 'score your best' based on the behind the scenes scoring factors the awards use.

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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.

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CBIC Issued Clarification with Respect of Advertising Services Provided to Foreign Clients| Circular No. 230/24/2024-GST 

VJM Global

CBIC has received various representations from the industry to provide clarification in the matter when the advertisement services are provided to foreign clients by Indian advertising companies/agencies. In some of the cases, the concerned jurisdictional officer considers that the place of supply of such service is within India. Therefore, the benefit of export is denied to such advertising companies.

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Intuit Announces New Partner Council Members

Insightful Accountant

Intuit has just announced new members to their U.S. Partner Council.

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Grants from A-Z: Preparing for Audit

LSLCPAs

LSL Webinar ‘Back to Basics | Grants from A-Z’ presented by LSL Senior Manager, Krystal Cabrera, CPA, and Supervisor Keili Gonzalez outlined how local government finance departments can navigate the complexities of grant reporting from A-Z. In case you missed it – as grant funding becomes a vital part of many organizations’ financial strategies, understanding.

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Warehouse Wednesday: Acumatica In-depth Part 6

Insightful Accountant

This is a prologue to Murph's 6th part of his in-depth series on Acumatica… a deep-dive into the functionalities designed to meet the needs of Distributors and Warehouse businesses.

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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

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The Complete SEFA Checklist for Grants from A-Z

LSLCPAs

LSL Webinar ‘Back to Basics | Grants from A-Z’ presented by LSL Senior Manager, Krystal Cabrera, CPA, and Supervisor, Keili Gonzalez outlined how local government finance departments can navigate the complexities of grant reporting from A-Z. In case you missed it – when it comes to preparing for year-end, local government finance departments must ensure.

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Future Forward Fall 2024 Continues Today

Insightful Accountant

You can still register and attend the 2nd Day of Insightful Accountant's Fall 2024 Future Forward Event and hear from leading experts on trending topics.

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Here Are the Biggest Gripes HR Hears From Employees

CPA Practice

Those who work in human resources have their finger on the pulse of the frustrations of their firm’s employees, and a new survey from human capital management technology provider isolved reveals the biggest complaints they hear. isolved partnered with Talker Research to survey 1,000 HR professionals across the U.S. about the challenges they face navigating technological advancements, rising employee expectations, and a work culture that can sometimes feel less than civil.

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How is GenAI reshaping the auditor’s skill set?

ThomsonReuters

← Blog home In the evolving landscape of auditing, the integration of Generative AI (GenAI) is reshaping the skill set required for audit professionals. As we delve into this transformation, it’s crucial to understand the new competencies that will keep professionals ahead in their field. Highlights: GenAI is reshaping the auditor’s skill set, requiring professionals to develop critical thinking, technical knowledge, and regulatory compliance expertise.

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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.