Thu.Apr 18, 2024

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Forbes Top 200 CPAs in America

Withum

I am honored to be included in the first Forbes Top 200 CPAs in America list , and further honored to be alongside three of my Withum partners: Pat Walsh , Bill Hagaman and Jim Bourke. Withum is an extraordinary firm and the fact that 4 of us are included on that list indicates recognition of that. Pat is our managing partner and CEO and only the third person to occupy that role in our 50-year history.

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PwC Announces It’s ‘Aligning Its Organizational Structure’ and Using Fewer BS Words in Job Titles

Going Concern

I wish I’d written this news up hours ago when I got a PR email about it, AT scooped us. Oh well. Here’s the news as it was delivered to me: Today, PwC US’ next senior partner, Paul Griggs, introduced our new leadership team—the Operating Committee. You can learn more about all the leaders here [link to the Our US Leadership Team page on PwC’s website].

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Poor cash flow can sink any business

Accounting Today

If an enterprise doesn't accurately measure and manage cash flow effectively, it won't be able to make sound financial decisions for the future.

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What Does the DOL’s Proposed Overtime Rule Mean For Your Small Business?

CPA Practice

By Suzanne Lucas, Inc. (TNS) The White House just approved a proposal from the Department of Labor to raise the minimum salary for exemption to $55,068 per year. It’s currently at $35,568 per year , so this is quite a jump. What does this mean for your business? Let’s break it down. Salary exemption Under the Fair Labor Standards Act, employees who work more than 40 hours a week are entitled to overtime.

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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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PwC shakes up US firm

Accounting Today

PricewaterhouseCoopers US is realigning its organizational structure across three lines of service — Assurance, Tax and Advisory — starting in July.

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The Accounting Technology Lab Podcast – Review of Aiwyn – April 2024

CPA Practice

Hosts Randy Johnston and Brian Tankersley, CPA, look at the practice management, billing and collections platform Aiwyn. Use the video player below to watch, or the podcast player below to listen to the podcast. Or use this podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.) Randy Johnston 00:00 Hey, welcome to Technology Lab.

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IRS Raids Home of Rapper Tekashi 6ix9ine, Seizes Cars and Other Items

CPA Practice

By Evan Rosen, New York Daily News (TNS) Rapper Tekashi 6ix9ine had several of his cars and other personal items seized from his home in Lake Worth, FL, on Wednesday, as IRS agents and local police raided the residence. A video posted to social media shows several of the vehicles with papers taped to the windshield, identifying Tekashi by his legal name, Daniel Hernández, and claiming that his property was being seized for “nonpayment of internal revenue taxes.

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Feature Focus Fridays - First Look at Figured

Insightful Accountant

Murph takes a first look at 'Figured', a cloud-based agribusiness software app that works with either QuickBooks Online or Xero and that he thinks is '"perfect for farming and ranching.

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Tax Fraud Blotter: Severe and widespread

Accounting Today

Speedy decision; trouble in paradise; diplomatic imbecility; and other highlights of recent tax cases.

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Boston IRS Agent Charged With Tax Fraud

CPA Practice

By Flint McColgan, Boston Herald (TNS) A Boston IRS agent was indicted on charges that she committed personal tax fraud for years. Ndeye Amy Thioub, 67, of Swampscott, MA, has served as a Boston-based IRS agent out of the IRS’s Large Business and International Division since 2006 and has been a licensed certified public accountant in Massachusetts since 2010, according to an affidavit filed in support of her criminal charges by a fellow IRS agent.

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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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IRS Estimated Tax Payment and Withholding Guide: Timing and Cash Flow Planning

Cherry Bekaert

Each year, as the tax filing deadline nears, it is important to identify your projected tax payments and when to pay them [LJ1] so you can avoid submitting inaccurate tax returns. Staying up to date with the most recent Internal Revenue Service (IRS) withholding and estimated tax payment guidelines for individuals is also crucial in understanding how these regulations will affect your taxes.

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Nick Couzzi Named to Metro New Jersey Appraisal Institute Board of Directors

Withum

Withum is excited to share that Nick Couzzi , Associate within Withum’s Real Estate Valuation Practice , has been appointed to the Board of Directors of the Metro New Jersey Appraisal Institute. The institute sponsors appraisal education, including courses and seminars that help professionals earn continuing education credits. As a member of the board, Nick will assist in administering these programs.

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What Small Business Owners Should Know About Payroll Analytics 

Patriot Software

Are your employees working too much overtime? Who needs a raise? Are you spending too much money on a department? To get answers to these types of questions, analyze your payroll data. Use payroll analytics to make decisions, avoid overspending on payroll, and verify the accuracy of your payroll.

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RSM Int'l names new CEO

Accounting Today

Ernest John Nedder, a partner and chief strategy officer at RSM US LLP, will be the next CEO of the RSM International network, succeeding longtime CEO Jean Stephens on June 1.

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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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AICPA Endorses Bipartisan Legislation to Provide Additional Tax Relief to Victims of Natural Disasters

CPA Practice

The American Institute of CPAs has expressed its strong support of H.R. 8007 , the Disaster Tax Lookback Parity Act of 2024 , in a letter to Representatives George Murphy (R-NC) and Jimmy Panetta (D-CA), who are original sponsors of the bill. Taxpayers impacted by disasters typically do not have the benefit of the lookback period for claiming credits and refunds being aligned with a postponed return filing due date, which this legislation would provide for all federally declared disasters.

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Becoming a remote partner

Accounting Today

The process of becoming a remote partner isn't much different from the traditional path — but it may take a little extra effort.

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The Future of Nonprofit Fundraising: Trends and Predictions

GrowthForceBlog

9 min read A hallmark of any successful organization is adaptability. As a nonprofit leader, you already understand the importance of being aware of the shifting nonprofit landscape and being ready to evolve your strategies and adapt your organization for success.

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The ADC Team Attends the 2024 EOS Conference

AccountingDepartment

Last week, the AccountingDepartment.com team attended the 2024 Entrepreneurial Operating System (EOS) Conference in San Diego, CA.

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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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Three Quarters of Big 4 Firms Made the Top 20 on LinkedIn’s Top Companies 2024 List

Going Concern

Would ya look at that, another “best companies” list. This time it’s the LinkedIn Top Companies 2024 , released Tuesday. While all four firms have a spot on the list, only three of them can boast that they made the top 20 (of 50). You already know which three it is. Here’s LinkedIn’s pitch: Our 8th annual LinkedIn Top Companies list highlights the 50 best large workplaces to grow your career in the U.S. right now.

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Avalara's new president to emphasize customer experience

Accounting Today

Ross Tennenbaum said he intends to improve its customer experience, and hinted at an e-invoicing partnership with a blue chip company.

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CFPB Small Business Loan Requirements & Your Skagit County Biz

SkagitCountyTaxServices

The 2024 federal tax season has reached its end… well, unless you joined the other 19 million taxpayers and filed for an extension. That’s something we anticipate every year here at Padgett & Padgett, PLLC CPA. And we’ll be working away the next few months on the extensions we filed for our Skagit County clients… albeit after a little rest from our round-the-clock filing labors.

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IR35 – where are we now?

Menzies

Menzies LLP - A leading chartered accountancy firm. What is IR35? The off-payroll working rules, or IR35 as it’s commonly referred to, have been around for some time. The rules exist to ensure that in circumstances where a worker or contractor meets the definition of an employee, that worker pays broadly the same income tax and National Insurance contributions to that of a PAYE employee.

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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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Only 36% of Not-for-Profits Have Seen an Increase in Funding Following 2022-23 Financial Upheaval

CPA Practice

UHY Advisors has released its 2024 Not-for-Profit Trends Report, which polled over 230 executives within not-for-profit organizations across sectors including healthcare, education, social / community services, and others with annual revenues ranging from less than $250,000 to over $10,000,000. “The not-for-profit industry has been trying to find its feet as disruption continues and global economic conditions remain volatile,” said Brian Kearns, partner and a leader of UHY’s Not-for-Profit pract

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SEC's market surveillance tool called unconstitutional in Texas lawsuit

Accounting Today

The lawsuit accuses the SEC of acting without authority to create the Consolidated Audit Trail.

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I'm remembering April 19th 1995 today.

Insightful Accountant

This is the day that I rise early and head to the cemetery to remember my friend, Ted L. Allen, who died in the bombing of the Alfred P. Murrah Federal Building in Oklahoma City.

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Fighting stubborn racial disparities in homeowner tax subsidies

Accounting Today

Experts from the Fed, Intuit and the Urban-Brookings Tax Policy Center explored ideas for more effective ways to advance the goals of the mortgage interest deduction.

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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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AuditBoard Expands Executive Team to Support Continued Rapid Growth

CPA Practice

AuditBoard , a cloud-based platform transforming audit, risk, compliance, and ESG management, has brought on public SaaS company veteran Jeff Harper as Chief Human Resources Officer (CHRO) to help scale the organization and infrastructure, continue to attract and retain exceptional talent, and steward AuditBoard’s award-winning company culture through continued rapid growth.

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3 steps to identify and fix bottlenecks in your firm’s workflow

ThomsonReuters

Jump to: Identify weaknesses in your firm’s workflow Evaluate technology and tools Create and document a new workflow process Evaluating future tax workflow bottlenecks What works today may not work tomorrow. A regulatory change, a workforce-related development, or even technology advancements can easily render your processes outdated or even unworkable.

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With Stock Sliding, Tesla Asks Investors to Pay Musk $56 Million

CPA Practice

By Dana Hull and Anders Melin. Bloomberg News (via TNS) Tesla Inc. will ask shareholders to vote again on the same $56 billion compensation package for Chief Executive Officer Elon Musk that was voided by a Delaware court early this year. In its proxy filing issued Wednesday, Tesla also said it will call a vote on moving the company’s state of incorporation to Texas from Delaware.

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Tax attorney: Navigating the nuances of taxation in hybrid work arrangements

ThomsonReuters

While the remote work arrangement has decreased since the end of the COVID-19 pandemic, employers are showing a preference for the hybrid arrangement. Rather than require a full return-to-office schedule, employers are offering employees a hybrid arrangement. The hybrid worker by the numbers A hybrid working arrangement permits employees to work remotely for part of the work schedule.

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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.