Thu.Aug 01, 2024

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States hit ‘Delete’ on some sales tax measures | TaxConnex

TaxConnex

If it seems like jurisdictions just ceaselessly add additional sales tax laws, statutes and restrictions, recent news out of three states should be refreshing. North Carolina has become the latest state to ax transaction thresholds for economic nexus. The state’s previous 200-transaction threshold was eliminated effective July 1. The state’s economic nexus threshold is now just $100,000 in sales into the state annually.

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Tax Fraud Blotter: Public mistrust

Accounting Today

The price of flame; a guy at the IRS; package deal; and other highlights of recent tax cases.

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What Can be Done About the Accounting Talent Shortage?

CPA Practice

The National Pipeline Advisory Group (NPAG), an independent advisory group convened in response to an American Institute of CPAs (AICPA) governing Council resolution, has released its final report of recommendations to address the accounting talent shortage. NPAG began work in July 2023. The multistakeholder group’s work was facilitated by ConvergenceCoaching LLC, a consulting firm for the accounting profession that specializes in leadership, talent and other issues.

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OneStream debuts Next Gen Gather AI

Accounting Today

OneStream announced the rebrand of OneStream Suite to OneStream One, which now features the new Next Gen Gather AI solution to help professionals gather client documents.

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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.

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PwC Associate Becomes an Olympian to Avoid Working 60-Hour Weeks

Going Concern

As we’re sure you’ve realized by now, it’s Olympics time and while Deloitte got a jump on the Paris 2024 hype , PwC has at least one competitor of their own: gymnast Frank Rijken of the Netherlands. View this post on Instagram A post shared by TeamNL Turnen (@teamnlturnen) View this post on Instagram A post shared by Frank Rijken (@frank.rijken) According to Insta, LinkedIn, etc. 27-year-old Rijken is an M&A advisor.

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Tax Strategy: Moore results in less

Accounting Today

A recent Supreme Court case held that the Code Sec. 965 mandatory repatriation tax was constitutional, but the majority opinion avoided the principal issue presented to the court.

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More Trending

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The Hidden Costs of Cheap Accounting Services

AccountingDepartment

Running a business is no small feat, and managing finances can be one of its most challenging aspects. It’s no wonder many business owners are lured by the promise of cheap accounting services. If you think you're saving money with these budget options, think again. This post will uncover the hidden costs that could be undermining your business and explain why investing in quality accounting is crucial for long-term success.

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Carr, Riggs & Ingram Adds ProSport CPA

CPA Practice

Top 25 accounting firm Carr, Riggs & Ingram (CRI) CPAs and Advisors has added ProSport CPA—a New Kent County, VA-based firm that specializes in tax and accounting services within the sports and entertainment niche—to CRI’s family of companies. The move expands CRI’s specialized tax and accounting services to cater to the unique needs of professional athletes and entertainers, the firm said in a media release.

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Recap: Government Finance Officers Association National Conference 2024

Cherry Bekaert

Contributor: Ali Karim , Accounting Advisory, Senior Associate The Government Finance Officers Association’s (GFOA) 118 th Annual Conference was held between June 9 – 12, 2024, at the Orange County Convention Center in Orlando, Florida. The event provided attendees the opportunity to meet face-to-face with fellow colleagues and clients (for the first time, in many cases) and network.

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Pennsylvania High Court to Consider Case on Pittsburgh’s ‘Jock Tax’

CPA Practice

By Hallie Lauer, Pittsburgh Post-Gazette (TNS) The Pennsylvania Supreme Court will consider Pittsburgh’s reliance on a tax levied on out-of-town athletes and performing artists—the so-called “jock tax”—following a lower court’s ruling earlier this year that the tax is unconstitutional, a decision that could have lasting budgetary implications for the city.

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Forecasting Failures Are Costly: Here's How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

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App Developers - Free Feature Content Available

Insightful Accountant

App and Software Developers should know that Insightful Accountant offers 'FREE' feature content, including App Aware and First Look features covering their app or software and Advisor Alliance articles covering their partner programs.

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Shaping AI to improve the way small business owners work

Xero

Much can be said about the pros and cons of generative AI. But while we can all agree that it is widely-available and disruptive, surely we can also agree that it isn’t the first emerging technology to be available and disruptive (nor will it be the last). It’s just the one we’re focused on right now. To start to wrap your head around the possibilities of generative AI and the broader AI technology ecosystem, it’s best to start from the ground up.

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CRI merges in ProSport CPA

Accounting Today

CRI merges in ProSport CPA

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Top Remote Accountants of the Week | August 1, 2024

Going Concern

Are you struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of top remote accounting candidates without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires. ACCOUNTING CANDIDATES FTE Accounting Manager | Candidate ID #22056820 Certifications: QuickBooks ProAdvisor Education: BA and MS Accountancy Experience (ye

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

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SafeSend debuts Next Gen Gather AI

Accounting Today

SafeSend announced the rebrand of SafeSend Suite to SafeSend One, which now features the new Next Gen Gather AI solution to help professionals gather client documents.

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Childless Law Firm Accountant Asks If It’s Cool to Complain About Your Coworkers’ Familial Obligations

Going Concern

Many of you are probably too young to remember the old Dear Abby columns in the newspaper, or newspapers for that matter, and while the original “Abby” died like a decade ago, her advice column lives on. In the 15 years Going Concern has existed, we’ve written about Dear Abby exactly twice. Make that three times now. Obviously this is not a recent Dear Abby column.

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Senate bill calls for NIST to make AI audit standards

Accounting Today

A recently introduced Senate bill would direct the federal government to develop third party audit standards for AI.

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State R&D Tax Credit Benefits: A Guide to Certain Available Credits

Cherry Bekaert

Research and Development (R&D) Tax Credits are an incentive for businesses investing in innovation. While the federal R&D tax credit is well-known, more than 35 states in the U.S. also offer R&D Tax Credits to businesses. Some states mirror elements of federal R&D tax credits, while others include different nuances, such as application deadlines, calculation methodologies, and credit utilization intricacies.

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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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Avalara debuts "Avi" chatbot

Accounting Today

Tax compliance solutions provider Avalara announced the release of its latest AI offering, a chatbot called Avi which can answer product questions, general tax questions, and troubleshoot issues.

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Top ProAdvisor Profiles Wanted

Insightful Accountant

If you are a Top ProAdvisor (Top 100 ProAdvisor, Top 25 Up-n-comer ProAdvisor, or Top 50 International ProAdvisor), we want to publish your profile.

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SafeSend Launches New AI-Powered Tools for Tax and Accounting Professionals

CPA Practice

SafeSend, a provider of automation technology for tax and accounting professionals, has launched SafeSend One, featuring Next Gen Gather AI. SafeSend One automates the entire tax process, from taxpayer document gathering and integrations with tax preparation leaders to tax return delivery, offering firms an all-in-one solution that provides an unrivaled client experience.

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PwC rolls out research bot ChatNational

Accounting Today

PwC announced the rollout of its new ChatNational large language model AI for internal staff, which is designed exclusively for research questions versus the more general use ChatPwC

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

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Advisor Alliance: MyWorks

Insightful Accountant

Murph gives you a glimpse into the advisor partnership opportunities offered by the MyWorks Partner Program.

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CLA Acquires Axiom CPAs in New Mexico

CPA Practice

Top 10 accounting firm CliftonLarsonAllen (CLA) has acquired Axiom CPAs & Business Advisors, an Albuquerque, NM-based full-service accounting firm. Financial terms of the deal weren’t disclosed. Four partners and 16 team members from Axiom officially joined CLA on Aug. 1. Scott Engelbrecht “The team at Axiom is another great addition to our CLA family,” Scott Engelbrecht, chief geographic officer for CLA, said in a statement.

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Breaking News: E-Invoicing Issues from QBO

Insightful Accountant

QuickBooks Online users have reported receiving 502 Bad Gateway errors when attempting to send E-Invoices.

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TaxPlanIQ Users Have Achieved Over $1B in Tax Savings with Tax Planning Software

CPA Practice

TaxPlanIQ, a provider of tax planning software for tax and accounting firms, announced Thursday that its users have collectively saved their clients more than $1 billion in taxes since the software’s launch in 2020. According to the Southlake, TX-based company, each taxpayer saves an average of $41,700 through the firm’s use of TaxPlanIQ ’s advanced tax planning software.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.

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Plan for 2025 Growth Today

Summit CPA

Don't wait until it's too late. Start planning for 2025 now. You might just be able to meet those business goals you've had in the back of your head.

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Embracing clarity: Introducing Engagement Manager and Guided Assurance

ThomsonReuters

At Thomson Reuters, we work hard to provide tools that streamline the audit workflow. We know that a constantly changing industry landscape and an ever-evolving regulatory environment can be a day-to-day challenge – making any level of simplification a welcome thing. To that end, we made a significant update to select product names within the Cloud Audit Suite, aimed at enhancing clarity and understanding for our users.

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Maximizing Tax Savings: Strategies for Pre- and Post-Transaction Optimization

Cherry Bekaert

When your organization is embarking upon internal restructurings, global expansion or acquisitions and dispositions, there are several layers of diligence associated with these activities. We will discuss how to thoughtfully approach identifying opportunities to help you navigate the diligence process for a smooth transition. Before acquiring a company, the ITAX and SALT exposures must be carefully reviewed, including potential risks such as transfer pricing, sales tax and state income tax.

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Recognizing Signs of Fraud

FraudFiles

Would you recognize the clues that your client has been ripped off by one of its employees? Or would management conduct business as usual, blindly trusting their employees? Companies make the mistake of not actively searching for fraud. They tend to trust their employees and trust the procedures in place to safeguard company assets. It [.

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New Software & You: Elevating Your Tech Stack

Speaker: Joe Wroblewski, Senior Sales Engineer

Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!