Tue.Dec 03, 2024

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What’s new in sales tax?

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. NOMAD news. Will “NOMAD” soon be just a NOD? The five-letter acronym stands for the states without a statewide sales tax – New Hampshire, Oregon, Montana, Alaska and Delaware – and two of those states might be leaving the group sooner than later.

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UHY Receives Private Equity Funding From Summit Partners

CPA Practice

UHY is getting an injection of private equity funding from Boston-based investment firm Summit Partners, calling it a significant milestone in its growth and strategic development, the top 30 accounting firm said on Dec. 3. Financial terms of the deal weren’t disclosed. With this deal, more than 35% of the top 30 accounting firms in the U.S. by revenue have sold stakes in their firms—many a controlling stake and some a minority stake —to private equity investors.

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By the numbers: IRS Direct File, the growing tax gap and more

Accounting Today

The latest data on the growth of the IRS's Direct File program, how many corporate tax pros believe generative AI is beneficial in accounting, and other key metrics.

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Crypto Enterprises: Digital Asset Compliance and Reporting With Jeff Rundlet of Cryptio

Withum

In this episode of Cryptonomix, Mark Eckerle sits down with Jeff Rundlet, Head of Accounting Strategy at Cryptio, an institutional-grade crypto accounting platform.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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Time to double down on DEI

Accounting Today

Accounting leaders say the profession is largely vigilant amid the broader corporate backlash against diversity, equity and inclusion.

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13 Tasks To Include In Your Monthly Bookkeeping Checklist

Ryan Lazanis

If you want your monthly bookkeeping checklist to be efficient and accurate, here are 13 tasks to include—with tips to make them easier. The post 13 Tasks To Include In Your Monthly Bookkeeping Checklist appeared first on Future Firm.

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Georgia Tax Preparer Guilty of Filing $3 Million in Fraudulent Returns

CPA Practice

Staff reports The Albany Herald, Ga. (TNS) ATHENS, GA (Nov. 27)—A tax preparer who admitted to filing more than $3 million in fraudulent tax returns on behalf of her clients is facing up to 30 years in prison for her crime. Jessica Crawford, 33, of Athens, pleaded guilty to one count of wire fraud and one count of aiding and assisting in the preparation and presentation of false income tax returns before U.S.

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UHY scores PE investment from Summit Partners

Accounting Today

UHY, a Top 50 Firm based in Farmington Hills, Michigan, has received private equity funding from Summit Partners, a Boston-based investment firm, the latest in a long line of accounting firms receiving PE financing.

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It's Giving Tuesday at AccountingDepartment.com

AccountingDepartment

Join AccountingDepartment.com in supporting the research, funding and treatment for rare diseases and Alternating Hemiplegia of Childhood.

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PCAOB revokes firm registration, bars partner for violations

Accounting Today

The Public Company Accounting Oversight Board posted a disciplinary order sanctioning Weinstein International CPA and its sole partner for audit and quality control failures.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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Layoff Watch ’24: EY UK is Probably Giving 3% of the Consulting Workforce the Chop

Going Concern

Multiple sources are reporting that the King’s EY is looking at axing about 150 people in consulting, 3% of that service line and 1% of the overall workforce. Bloomberg Law said the cuts are “another sign of a weak consulting market that lately has affected big accounting firms globally” but with how long this excuse has been going, it’s really starting to feel like firms are just bad at managing their headcounts and making money.

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Transform year-ends into an organizational asset

Accounting Today

The fiscal year-end brings a cycle of intense workloads that can extend into the new year, as accountants and auditors work to close the books.

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Sage Intacct Adds AI Enhancements and Features

CPA Practice

Sage, a maker of accounting, financial, HR, and payroll technology for small and mid-sized businesses (SMBs), has announced that Sage Copilot is available to early adopters initially in the US and UK on Sage Intacct. As part of a raft of new enhancements and updates for Sage Intacct customers globally, the introduction of this cutting-edge generative AI tool will support customers with actionable insights and intuitive support to help drive productivity and growth.

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Small firms aren't off the DEI hook

Accounting Today

What small accounting firms can do to move the needle on diversity, equity and inclusion.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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Backstage with Donna Branston: CPABC Podcast Feature

DMCL

DMCL is thrilled to share that Donna Branston , our Entertainment Accounting and Business Management Partner, was recently featured in CPABC’s Backstage Pass , a podcast exploring the unique stories of CPAs working in entertainment. In her interview, Donna sheds light on the dynamic world of entertainment accounting, the challenges faced by artists and creatives, and how her work at DMCL helps clients navigate the complexities of this exciting industry.

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Tax Strategy: A syndicated conservation easement update

Accounting Today

The long efforts to put in place the enforcement mechanisms to attack syndicated conservation easements appear to at last be finalized.

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SolomonEdwards Acquires Tax Advisory Provider Steele Consulting

CPA Practice

SolomonEdwards , a national professional services firm offering financial, operational and technology consulting along with operations support, has acquired the national tax consulting firm Steele Consulting. Effective immediately, SolomonEdwards clients gain access to an expanded suite of tax support services across state, local, federal and international jurisdictions.

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Best Practices for Medicaid and Medicare Enrollment

Anders CPA

Navigating the Medicaid and Medicare enrollment process is a critical step for health care providers seeking a broad patient base. While the process is necessary, it can be complex and time-consuming with each program having its own requirements, timelines and potential pitfalls. Failing to properly complete the enrollment process can delay reimbursements and disrupt your revenue cycle, making it essential to approach the enrollment process with precision and strategy.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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IRS Extends Deadline for Third-Party Payers to Resolve Incorrect ERC Claims

CPA Practice

The IRS is giving payroll companies and third-party payers more time to help resolve their clients’ erroneous claims for the Employee Retention Credit (ERC). The tax agency has extended the deadline for third-party payers—such as certified professional employer organizations, professional employer organizations, and IRC Section 3504 agents—to file a supplemental claim for their clients until Dec. 31.

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Sage Intacct Release 4 offers New Enhancements and Capabilities for SMB Growth

Insightful Accountant

Sage Intacct Release 4 brings AI-driven Sage Copilot and productivity tools to enhance decision-making and efficiency.

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The Power of Retargeting in Digital Marketing with Zaid Ammari

Summit CPA

Jamie and Jody chat with Zaid Ammari from PPC Masterminds to explore advanced marketing strategies including digital marketing retargeting.

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US SMBs Leading the AI Charge According to Sage Report

Insightful Accountant

American small and medium-sized businesses (SMBs) are at the forefront of the AI revolution, outpacing their global counterparts in adoption rates.

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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Small businesses saw modest growth in jobs and pay in November

Accounting Today

Small business jobs growth remained steady in November, while workers' wages grew only slightly, payroll provider Paychex reported.

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Top 3 risks of not having a financial manual in your business

Menzies

Menzies LLP - A leading chartered accountancy firm. A finance manual is a comprehensive file that documents a business’ internal financial processes and policies. It serves as a guide for staff to ensure consistency, compliance, and efficiency in financial operations. A finance manual may also be requested by investors, buyers, and board members to support making business/finance decisions.

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M&A roundup: SolomonEdwards, LGA and BGA&F expand

Accounting Today

SolomonEdwards acquires Steele Consulting; LGA merges in McGaunn & Schwadron CPAs; and Barsz Gowie Amon & Fultz adds William E. Howe & Co.

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IRIS Software Group Acquires Dext

CPA Practice

IRIS Software Group , has announced a definitive agreement to acquire Dext Software Ltd (Dext), a bookkeeping automation platform provider. The acquisition will unite two sector-leading cloud-based platforms – Dext’s Bookkeeping Automation Platform and IRIS Elements – to deliver a complementary and fully integrated, end-to-end solution for accountants, bookkeepers, and businesses.

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AP Automation: The Competitive Advantage Your Business Needs

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging technology to drive productivity and cost savings. So, how do you make the case for automation within your organization?

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FASB proposes ASU on credit losses, contract assets

Accounting Today

The Financial Accounting Standards Board is seeking comments on a practical expedient and an accounting policy election for stakeholders.

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U.S. Job Openings Rose to 7.7 Million in October as Labor Demand Steadies

CPA Practice

By Jarrell Dillard Bloomberg News (TNS) U.S. job openings picked up in October while layoffs eased, suggesting demand for workers is stabilizing. Available positions increased to 7.74 million from a revised 7.37 million reading in September, the Bureau of Labor Statistics Job Openings and Labor Turnover Survey, known as JOLTS, showed Tuesday. The median estimate in a Bloomberg survey of economists called for 7.52 million openings.

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UBS faces French criminal trial for harassing whistleblowers

Accounting Today

A French unit of the Swiss lender is accused of sidelining and slashing the bonus of a former auditor who was penning a report on potentially unlawful behavior.

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FASB Targets Credit Losses for Accounts Receivable, Contract Assets in Proposed ASU

CPA Practice

The Financial Accounting Standards Board (FASB) published a proposed Accounting Standards Update (ASU) on Dec. 3 that addresses the measurement of credit losses for accounts receivable and contract assets for private companies and certain not-for-profit entities. The FASB and the Private Company Council, the group that advises the U.S. standard-setting board on private company accounting matters, took on this project to address challenges with applying the guidance in Topic 326, Financial Inst

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.