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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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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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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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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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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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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More Trending

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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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The art and science of M&A and technology

Accounting Today

When an accounting firm merges into a larger one, what should they expect regarding their technology?

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

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

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

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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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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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Stop being so faithful to your old ideas

Accounting Today

Learn to be intellectually promiscuous.

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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.

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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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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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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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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.

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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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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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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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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

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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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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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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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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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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.

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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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Bridging Insights: A Conversation with Catherine Perka, Manager

DMCL

Welcome back to Bridging Insights—a series of candid conversations with DMCL hiring managers, where they provide real insights into life at DMCL and what you can expect when you join our firm. For this edition, we’re chatting with Catherine Perka. Catherine is a Manager at DMCL’s Surrey office, where she provides advisory, accounting, and tax services to a variety of private enterprise and individual clients.

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Majority of CEOs Think Offices Will Be Filled Again Five Days a Week By 2027

CPA Practice

The traditional corporate office is expected to be back in full force in about three years, according to a new KPMG report , as 79% of CEOs in the U.S. believe employees “whose roles were traditionally based in-office” will be working again in-person five days a week by 2027. That’s up dramatically from 34% who said the same in the Big Four accounting firm’s U.S.

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RECs vs. Carbon Offsets: The Difference in Environmental Credits and How They Apply to SBTi Targets 

Withum

In the sustainability sector, two key instruments have emerged: Renewable Energy Certificates (RECs) and carbon offsets. While both are market-based tools that are designed to support environmental initiatives, they serve distinct purposes and are treated differently when setting Science Based Targets (SBTi) emission targets. Understanding RECs vs. carbon offsets is important for companies as they navigate corporate sustainability efforts and set SBTi targets.

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Solve Your Firms 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.