inDinero Accounting

AUGUST 19, 2024

As a small business owner, few phrases strike fear quite like “IRS audit.” While the chances of getting audited by the IRS are relatively low, understanding audit risk factors and implementing preventive measures can provide peace of mind and financial security. This comprehensive guide will explore how an IRS audit works, key tax audit risk factors, and strategies to mitigate audit risks for small business owners.

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CPA Practice

AUGUST 19, 2024

By Mark Luscombe, CPA, JD, LLM. U.S. Olympians have won 40 gold medals, 44 silver medals, and 42 bronze medals at the 2024 Olympic Games in Paris, for a total of 126 medals. And that is only half of it. With many events involving teams, relays and other multiple participants, the number of medals presented to U.S. athletes is over twice that number, with around 125 gold medals, 98 silver medals, and 93 bronze medals distributed to individual winning participants.

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Tax income tax Sports Gaming 124

Withum

AUGUST 19, 2024

Withum is proud to share that Inside The Valley has named Steve Martini and Chris Passmore on their Top 200 List for 2024. Steve Martini is a Tax Partner at Withum with over 30 years of experience focusing on business consulting and management advisory services. He is a dedicated philanthropist, having served on the Los Angeles Police Department Executive Strategic Planning Group for the L.A.P.D.

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CPA Tax 111

CPA Practice

AUGUST 19, 2024

The IRS is strongly urging qualifying businesses, tax-exempt organizations, and state, local, and Indian tribal governments to complete the pre-filing registration process now for projects placed in service in 2023 if they plan to claim elective pay. The Inflation Reduction Act and the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act of 2022 allow taxpayers to take advantage of certain manufacturing investment, clean energy investment, and production tax credits through electi

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tax return Tax Manufacturing Government 119

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.

Account

Going Concern

AUGUST 19, 2024

Tucked 22 pages deep into the Financial Reporting Council’s 2024 Annual Review of Audit Quality report , this no doy declaration. Several PIE and non-PIE audit firms in the UK have entered into private equity (PE) deals, and larger firms have also been approached periodically for discussions. We are closely monitoring this situation through our PIE Auditor Registration team and our supervisory engagement discussions with firms.

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audit auditor Finance 111

CPA Practice

AUGUST 19, 2024

The IRS on Monday issued interim guidance on employer matching contributions made to retirement plans—including 401(k), 403(b), and similar plans—for student loan payments made by their workers. The guidance in Notice 2024-63 implements Section 110 of the SECURE 2.0 Act of 2022, which allows employees to receive a 401(k) match from their employer, but only if they’re making qualified student loan payments.

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Education accountant Account accounted 116

CPA Practice

AUGUST 19, 2024

This webinar will be held on Monday, September 23, 2024 at 1:00pm ET Sponsor: Cetrom Duration: 1 Hour Register now It’s no secret that the accounting industry has seen a staggering 300% increase in cyberattacks since 2020, which has led to significant risks to accounting firms and their clients and more aggressive data safeguards, regulations, and penalties enforced by the FTC and the IRS.

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Accounting Today

AUGUST 19, 2024

The shortage of buyers of small practices is because the potential buyers are not qualified to handle a small practice.

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accountant Account accounted 124

CPA Practice

AUGUST 19, 2024

Taxpayers who operate large trucks and buses have until Sept. 3 to file Form 2290 , Heavy Highway Vehicle Use Tax Return , for vehicles used in July 2024, the IRS said last Thursday. The usual Aug. 31 deadline is delayed until the next business day because it falls on a Saturday this year. The tax applies to highway vehicles with a gross weight of 55,000 pounds or more that are registered or are required to be registered under law.

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Tax tax return accountant Account 115

Accounting Today

AUGUST 19, 2024

A new coalition of tax authorities, industry groups and others is combining to stop tax-related schemes.

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Tax 122

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.

Account

CPA Practice

AUGUST 19, 2024

A new coalition comprised of the IRS, state tax agencies, and representatives from the tax profession was introduced on Aug. 16, tasked with combating the ever-growing scams that continue to threaten taxpayers, practitioners, and tax systems. Scams and schemes intensified during the most recent tax-filing season that exploited vulnerable taxpayers while enriching fraudsters and promoters, the IRS said in a media release.

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Tax tax return Education Government 105

AccountingDepartment

AUGUST 19, 2024

Since its establishment in 2015, Rewind has been dedicated to empowering businesses to safeguard their valuable SaaS and cloud data. With an impressive customer base of over 100,000 across 100 countries, Rewind's highly acclaimed apps and unwavering support have become the go-to solution for ensuring the uninterrupted operation of software-as-a-service applications.

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accountant accounted Account 83

CPA Practice

AUGUST 19, 2024

Forvis Mazars, LLP, ranked among the largest public accounting and consulting firms in the United States, today announces a new strategic collaboration with Financial Executives International (FEI), the association of choice for finance leaders. FEI adds Forvis Mazars to their esteemed Strategic Partner program. The Strategic Partner program allows FEI members to form relationships and gain access to deeper insights from Forvis Mazars.

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Accounting Today

AUGUST 19, 2024

Accountants are planning their pregnancies to avoid having children during tax and audit busy seasons — and they're not happy about it.

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audit Tax accountant Account 101

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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.

financial statements

CPA Practice

AUGUST 19, 2024

CohnReznick LLP, one of the leading advisory, assurance, and tax firms in the United States, has announced its government contracting industry practice has released its 8th annual GAUGE Report. Published in conjunction with solutions provider Unanet, and widely recognized as the most comprehensive survey of its kind, the 2024 GAUGE Report provides contractors in many industries with competitive insights, best practices, and benchmarking metrics.

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Government Technology accounting and finance Finance 103

Patriot Software

AUGUST 19, 2024

Don’t let your #1 candidate pick or top-tier employee be the one who got away. Whether it’s an employer’s or employee’s market, the job market for top talent is competitive. You need a robust employee benefits package to attract and retain talent. Offering a small business benefits package starts with building one out.

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payroll 82

CPA Practice

AUGUST 19, 2024

Ten companies took home Boomer Visionary Awards after being honored on August 19 by Boomer Consulting, Inc., during the 2024 Boomer Circles Summit in Kansas City, Missouri. These awards honor member firms and sponsor partners in the accounting profession that demonstrate exemplary performance and innovation. Leadership Visionary Award: TaxOps [link] The leaders at TaxOps are transforming tax specialty services by prioritizing clients, people, and communities.

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Xero

AUGUST 19, 2024

“I kept seeing a lot of useful material getting thrown out to the landfill, construction waste mainly, things like metal, wood, plasterboard and concrete which are all reusable with a little work,” says Dan Butterfield, owner of Kiwi Skips , a New Zealand-based on-demand skip hire company committed to sustainable waste management. “Watching it all go to waste felt wrong – but it was pretty easy to fix.

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Construction Non-Profits Maine accounting and finance 79

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

Sales

CPA Practice

AUGUST 19, 2024

By Matthew Enuco nj.com (TNS) A Drexel University accounting professor was convicted on all eight counts of tax evasion and filing false tax returns Thursday, U.S. District Attorney Philip R. Sellinger announced Friday. Gordian A. Ndubizo, 69, of Princeton Junction, was convicted by federal jury in Trenton Thursday of four counts each of tax evasion and filing false tax returns between 2014 and 2017, officials said.

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Tax accountant Account accounted 98

Accounting Today

AUGUST 19, 2024

The Treasury Department and the Internal Revenue Service announced that North Carolina will be the latest state to join the IRS Direct File free tax program in filing season 2025.

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North Carolina Tax 72

CPA Practice

AUGUST 19, 2024

This webinar will be held on Thursday, September 19, 2024 at 1:00pm ET Sponsor: SafeSend Duration/CPE: 1 Hour Register Now In this session, we’ll be discussing how in-office and remote staff can boost their efficiency, what AI advances are doing for tax technology and examples of what they might look like, how integrations can elevate firm workloads, and digging down into tech stacks.

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Technology Tax Indiana Idaho 97

Going Concern

AUGUST 19, 2024

Hey. I’m a little disappointed we’re already back at Monday but what can you do? You can read some news! Partner profits at KPMG Australia are down but use of bots to replace human work is up, reports Australian Financial Review : Lower demand for “legacy” consulting services has pushed revenue at KPMG down 3.6 per cent, sending partner profits lower by an average of 9 per cent.

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audit accountant Account accounted 59

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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.

CPA Practice

AUGUST 19, 2024

By Carl Smith Governing (TNS) In the two years since the Inflation Reduction Act (IRA) was signed into law, IRA tax credits for private-sector clean energy projects have been widely celebrated and estimates of the investment they have sparked range from $125 billion to $265 billion. Credits that repay energy investments by public agencies and other tax-exempt organizations have received much less attention, but a new online tool aims to redress the imbalance.

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Government Tax Legal Finance 94

Accounting Insight

AUGUST 19, 2024

If you’re interested in building an accountancy practice, buying an established practice or scaling up your existing accounting or bookkeeping firm, then join us in Manchester to meet with key members of the TaxAssist Accountants Support Centre and hear how we can help you achieve the success that you aspire to. James Mattam, TaxAssist Group Business Development Director, said: “Accountex is always a fantastic event, packed full of informative presentations, exhibitors and networking opportuniti

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accountant Account accounted Tax 59

CPA Practice

AUGUST 19, 2024

By Mike Whitmire. Here’s the truth: yes, AI is transformative. However, most conversations surrounding AI’s transformation potential have been about what AI can do for you, and while that’s definitely an important part of this technology, it’s only scratching the surface. Let’s reframe, though, and instead, talk about what AI can do with you. It’s not about plugging AI in and letting it rip on its own; it’s about making AI a coworker that you work alongside.

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Finance Technology accounting and finance accountant 59

Insightful Accountant

AUGUST 19, 2024

Murph looks at a couple of the 'sub-categories' used by Insightful Accountant for both the 'Niche' and 'CAAS' Award categories. This week's sub-category is Payroll and Human Resources.

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payroll accountant Account accounted 52

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.

Withum

AUGUST 19, 2024

The Government Accounting Standards Board (GASB) recently issued Statement Number 102, Certain Risk Disclosures (“GASB 102”). GASB 102 requires state and local governments to disclose material concentrations and constraints in the notes of the financial statements. GASB 102 is effective for years beginning after June 15, 2024, and earlier application is permitted.

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financial statements Control Spend Government accounting and finance 52

Insightful Accountant

AUGUST 19, 2024

In the ever-evolving landscape of tax law and regulations, the ability to learn continuously is not just an advantage—it's a necessity. As tax practice leaders, fostering a learning organization can be the key to maintaining a competitive edge.

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Tax 52

CPA Practice

AUGUST 19, 2024

By Daniel F. Rahill, CPA, PFS, JD, LLM, CGMA. Since their inception, Roth IRAs have allowed taxpayers to establish accounts either through direct contributions or by converting a traditional IRA into a Roth IRA, a process referred to as a Roth conversion. Initially, these options were unavailable to higher-income individuals, as eligibility for direct contributions and conversions was limited by a taxpayer’s modified adjusted gross income (MAGI).

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Tax CPA Illinois income tax 52

Accounting Insight

AUGUST 19, 2024

We caught up with Becky Glover ahead of her seminar at Accountex Summit Manchester. Becky qualified in practice and moved into industry working for listed, start-up and owner managed companies. She has been listed in the global Top 50 Women in Accounting and won Finance Director of the Year 2023! Becky is currently Finance Director and Board Member of Yutree Insurance.

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accounting and finance Finance Gaming Start-ups 52

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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.