Tue.Nov 12, 2024

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When Is the Right Time to Prepare Your Business for a Sale

Summit CPA

Mergers and acquisitions (commonly known as M&A) is on a lot of people's minds. Post-Covid, money dried up and EBITDA shrank, but today the market for agencies feels stronger than in 2023. Owners who had been sitting on the sidelines are now more likely to put themselves back in the M&A game.

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Smart Strategies Fractional CFOs Use to Stretch a Startup’s Cash

BurklandAssociates

From cash flow hacks to cost-saving insights, learn how Fractional CFOs keep startups resilient. The post Smart Strategies Fractional CFOs Use to Stretch a Startup’s Cash appeared first on Burkland.

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Your survival kit for a sales tax audit

TaxConnex

Fear frequently motivates all tax compliance. And with sales tax, as with most other kinds of tax, that fear is of an audit. This unwanted (and sometimes seemingly random) scrutiny from tax jurisdictions can terrify small companies. Fact is, reasons for an audit can vary from a jurisdiction’s unique methodology to audits of one’s customers or vendors to simple bad luck.

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Nominations Open for 2025 “Most Powerful Women in Accounting” Awards

CPA Practice

CPA Practice Advisor has opened the nomination period for one of its most prestigious awards. The Most Powerful Women in Accounting Awards , now in their 12th year, were created by CPA Practice Advisor to promote and support the success of women leaders as part of its broader mission of sustaining the profession. There are no costs associated with nominations or award recognition.

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

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, 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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Optimizing Business Operations With Automated Inventory Management

Withum

Warehouse and inventory management is at the heart of business operations across industries like distribution, manufacturing, retail and healthcare. Yet, many businesses still rely on manual processes that are prone to errors, inefficiencies and operational delays. Automated inventory management solutions can help address these issues, as inaccurate stock counts and shipping delays can directly impact a company’s bottom line and customer satisfaction.

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IASB proposes to tweak requirements for provisions

Accounting Today

The International Accounting Standards Board wants feedback on targeted improvements it's proposing to make to improve the requirements for recognizing and measuring provisions on corporate balance sheets.

More Trending

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PCAOB offers guidance on auditor responsibilities for detecting, reporting illegal acts

Accounting Today

The Public Company Accounting Oversight Board issued a staff publication amid controversy over its proposed NOCLAR standard.

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What’re Your Business’s State Tax Obligations?

Patriot Software

As a business owner, you’re responsible for a number of taxes. Some may be federal or local, while others are state taxes. So, what are the types of state tax obligations you need to keep on your radar?

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New marginal tax rates for 2025

Accounting Today

The highest marginal tax rate for 2025 is 37% and the lowest is 10%.

Tax 138
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Los Angeles Business Journal Names Withum Team Members on Top 100 Accountants List

Withum

Withum is proud to share that the Los Angeles Business Journal has recognized Chester Ventura , Audit Partner, and Lilit Nersisyan , Audit Principal, on its Top 100 Accountants list for 2024. Chester is a partner in Withum’s Los Angeles office and has over 20 years of experience providing attestation services for privately held companies. He serves clients in various industries including manufacturing, distribution and logistics , not-for-profit and education and employee benefit plans.

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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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CPE Webcast Dec. 12 – Transforming Sales Tax Compliance to Fuel Business Growth

CPA Practice

This webinar will be held on Thursday, December 12, 2024 at 12:00pm ET Sponsor: Avalara Duration: 1 Hour Register Now This webinar is designed for accountants using QuickBooks, Xero, or similar accounting software. Learn how Avalara integrates seamlessly with your existing tech stack, saving time, reducing costly errors, and hear firsthand from a firm that has supported clients through their tax compliance journey.

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Rho offers portal for client management, onboarding

Accounting Today

Finance platform Rho launched the Rho Partner Portal for Accountants, a version of Rho designed specifically for partners with Rho who are accountants.

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When Is the Right Time to Prepare Your AGENCY for a Sale

Summit CPA

Mergers and acquisitions (commonly known as M&A) is on a lot of people's minds. Post-Covid, money dried up and EBITDA shrank, but today the market for agencies feels stronger than in 2023. Owners who had been sitting on the sidelines are now more likely to put themselves back in the M&A game.

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CBIC Issued Corrigendum to clarify that RCM on Renting Service is Applicable Only with Respect to Immovable Property

VJM Global

With effect from 10.10.2024, GST has been made applicable on renting commercial property under the Reverse Charge Mechanism by an unregistered person to the registered person. For this purpose, the following entry has been inserted in RCM Notification vide Notification No. Notification No. 09/2024 – Integrated Tax (Rate) dated 8th October 2024. (1) (2) (3) (4) 6AB Service by way of renting of any property other than residential dwelling.

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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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From Tax Calculation to Exemption Management: How Avalara Eases Compliance

Insightful Accountant

Avalara simplifies the complex and ever-changing world of sales tax compliance, providing businesses with automated solutions that remove the burden of managing thousands of tax jurisdictions.

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Understanding When a Retirement Plan Audit Is Required

Withum

Understanding when audited financial statements of a retirement plan are required to be attached to a Form 5500 is an important part of demonstrating fiduciary responsibility over the plan and preventing unnecessary fines for an invalid filing of the 5500. A plan is required to have an audit attached to the Form 5500 when they are a “large plan”. For plan years beginning on or after January 1, 2023, the plan has an audit requirement if they have 100 participants with account balances as of the f

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U.S. Consumer Inflation Outlook Fell Slightly, Fed Survey Shows

CPA Practice

By Alex Tanzi Bloomberg News (TNS) Households’ inflation expectations declined slightly, the outlook for personal income held steady and workers are feeling more confident about the job market, according to a Federal Reserve Bank of New York survey. Inflation expectations dropped by 0.1 percentage point to 2.9% over the next year, by 0.2 percentage point to 2.5% over the next three years, and by 0.1 percentage point to 2.8% over a five-year period, according to the survey released Tuesday.

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Transform Your Tax Workflow: Stanford Tax’s Automated Solution for Accountants

Insightful Accountant

Stanford Tax offers a game-changing approach to gathering tax information for accounting firms, streamlining the collection process and improving accuracy. This innovative tool transforms tax preparation.

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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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Stambaugh Ness Forms Strategic Relationship With Stonebridge Financial Group

CPA Practice

Top 200 accounting firm Stambaugh Ness announced on Nov. 12 a strategic partnership with Wormleysburg, PA-based Stonebridge Financial Group to introduce personal wealth management and retirement plan services to their clients nationwide. Through this alliance, Stambaugh Ness clients can benefit from personalized wealth management designed to address their unique goals and challenges.

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Why the ProAdvisor Academy is the Educational Shift We’ve Needed

IgniteSpot

I’ve been working in accounting long enough to know that the way we learn and grow in this profession has needed an update for a while. When I first got involved with the ProAdvisor Academy , I saw an opportunity to help shape a program that could fill a gap I’ve noticed for years: the need for education that truly integrates accounting principles with real-life, hands-on experiences using software.

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Schellman Compliance Expands Sustainability Reporting Services with Acquisition of Sustas, LLC Practice and ISO 14001 Accreditation

CPA Practice

Schellman Compliance , a provider of compliance services, has announced the successful acquisition of Sustas, LLC practice, a firm specializing in sustainability reporting services. As part of the transaction, Sustas’s clients and personnel will join Schellman, further strengthening the firm’s ability to deliver tailored, industry-leading sustainability compliance, consulting, and assurance solutions.

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Discover the Power of AP Automation with Yooz: Key Takeaways from the Post Intuit Connect App Academy

Insightful Accountant

Discover how Yooz’s AP automation empowers QuickBooks users. As highlighted at the recent post Intuit Connect App Academy, Yooz brings innovative, powerful tools to streamline and enhance accounts payable workflows.

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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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Small Business Hiring Continued to Be Weak in October, CBIZ Index Shows

CPA Practice

The Small Business Employment Index (SBEI) from top 15 accounting firm CBIZ reported a seasonally adjusted decrease of 0.58% in October , marking the second straight month of hiring declines and the fourth negative month out of the past six. The CBIZ SBEI tracks payroll and hiring data for more than 2,800 companies with 300 or fewer employees across the U.S.

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Modern Security Requirements for Tax Professionals: Beyond Basic Authentication

Insightful Accountant

As cybersecurity threats evolve, tax professionals must adapt their security practices to protect sensitive client data. Recent IRS discussions highlight that traditional security measures are no longer sufficient on their own.

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BKR International Expands Middle East Footprint with New Member in Jordan

CPA Practice

BKR International has announced the addition of Abbasi, Shahin & Odeh Chartered Accountants as the newest member in the Middle East region. Based in Amman, Jordan, Abbasi, Shahin & Odeh brings valuable expertise and a strong commitment to financial excellence and client success. BKR is a top-10 global accounting association representing the expertise of 140 members with nearly 600 offices in over 75 countries around the world.

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Maximizing Section 45L Tax Credits for Energy-Efficient Home Builders

Anders CPA

The Inflation Reduction Act (IRA) of 2022 substantially expanded the Section 45L tax credit for new energy-efficient homes. This credit offers builders of sustainable homes significant tax savings. Here’s what you need to know to take advantage of these updated credits and maximize the benefits for your projects. Key Takeaways: The Inflation Reduction Act amended Section 45L, which impacted the amounts available to taxpayers as well as the eligibility requirements The value amount of the credit

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Solve Your Firm's 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.

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EY Acquires HR Tech Consulting Firm Jubilant

CPA Practice

Big Four accounting firm EY said on Nov. 11 that it has acquired Jubilant, an Ann Arbor, MI-based HR technology consultancy focused on implementing and supporting human capital management, payroll, and workforce management systems. Financial terms of the deal weren’t disclosed. With more than 50 professionals focused on HR technology services, Jubilant has differentiated itself in the market by designing and building accelerators that automate testing for payroll and workforce management, and by

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CBIC Clarified the concept of “as is/ as is, where is basis”- A phrase used in GST Circulars

VJM Global

In various GST circulars issued recently concerning clarification on the applicability of GST rates, and clarification on the classification of goods and services, the phrase “as is” or “as is, where is basis” has been used extensively to regularize the matters before the effective date of clarification. The GST Council in its 54th Meeting has recommended issuance of clarification to clarify the intent behind the regularization done in the past meetings.

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KSM Adds Valuation Firm ValueKnowledge in Illinois

CPA Practice

Top 60 accounting firm KSM (Katz, Sapper & Miller) said on Tuesday it has acquired ValueKnowledge, a Chicago-area valuation and advisory firm, effective Oct. 21. Financial terms of the deal weren’t disclosed. Indianapolis-based KSM said the transaction augments its growing business valuation practice, adding an experienced team led by ValueKnowledge founder Jim Krillenberger and vice president Andy Stebbins, who join KSM as managing director and director, respectively.

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How to NetSuite - Step-by-step Fixed Asset Management

Insightful Accountant

Murph takes you through six summary steps to record, configure, manage and report on fixed assets when using NetSuite's Fixed Asset Management 'Suite App.

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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.