RogerRossmeisl

JULY 22, 2024

(As appearing in IR 2024-186) IRS reminds car dealers and sellers to be aware of phishing scams The Internal Revenue Service would like to remind car dealers and sellers to be aware of evolving phishing and smishing scams that could impact day-to-day operations of the business. In light of the recent ransomware attack against CDK, the IRS is warning individuals and businesses to remain vigilant against these attacks.

CPA 227

CPA cpa firm business tax Tax 227

CPA Practice

JULY 22, 2024

Traditional accounting roles are evolving, now more than ever, as client needs change. Ask ten of your friends, and most will assume that an accountant is a number cruncher and focuses on compliance issues. And, to some degree, these people are correct. Certified public accountants know a lot about numbers, they analyze them, forecast them, and “crunch them,” but over 50% of firms now offer client advisory services and have become strategic partners with clients.

Account 130

Account accounted accountant Technology 130

RogerRossmeisl

JULY 22, 2024

Are you buying a business that will have one or more co-owners? Or do you already own one fitting that description? If so, consider installing a buy-sell agreement. A well-drafted agreement can do these valuable things: Transform your business ownership interest into a more liquid asset, Prevent unwanted ownership changes, and Avoid hassles with the IRS.

CPA 199

CPA business tax Tax 199

Accounting Today

JULY 22, 2024

Test your accounting knowledge on chief AI officers, Operation Hidden Treasure, and more. No. 2 pencil not required!

Account 130

Account accounted accountant 130

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 automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

Finance

CPA Practice

JULY 22, 2024

New research by international telecommunications provider TollFreeForwarding.com reveals that accounting and tax is the second-happiest industry to work in. The Los Angeles-based company analyzed Glassdoor review data for 200 companies across 10 industries and ranked them based on the following six criteria: Culture and values Diversity and inclusion Work-life balance Compensation Career opportunities Senior management satisfaction Each industry was scored on a scale of 1 to 100 for each categor

Construction 124

Construction Account accounted accountant 124

Accounting Today

JULY 22, 2024

There is a tendency to keep the clients we have, whether they are overgrown or not, or whether or not they still fit.

Account 126

Account accounted accountant 126

Accounting Today

JULY 22, 2024

It's all too easy to become consumed by our screens, losing touch with the human connections that are vital to our work.

124

124

CPA Practice

JULY 22, 2024

By Bruce Crumley, Inc. (TNS) The Supreme Court has issued a number of controversial decisions in its most recent term. But one that was barely noticed when it was delivered in June ends the strategy of closely held companies using life insurance-based methods to reallocate ownership stakes—tax-free—when a major shareholder dies. The generally overlooked high court decision in Connelly v.

Tax 119

Tax Legal Florida audit 119

Accounting Today

JULY 22, 2024

Daniel Dustin has named Kent Absec, Brenner Allen, William Emmer and Sedrik Newbern to key leadership roles at the National Association of State Boards of Accountancy, effective Aug. 1.

accounted 119

accounted Account accountant cpas 119

CPA Practice

JULY 22, 2024

By Sarah Lynch, Inc. (TNS) Health insurance matters greatly to employees. And now, in smaller companies, millions more workers have coverage than they did a decade ago. According to the Center on Budget and Policy Priorities, a research organization and policy institute, the Affordable Care Act has been the difference maker. In 2013, about a quarter of employees at small businesses—those with fewer than 100 employees—were uninsured.

Maine 119

Maine Tax 119

Advertisement

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.

Technology

Insightful Accountant

JULY 22, 2024

We made a slight change in the minimum qualifications for the 2025 ProAdvisor Awards, but it could significantly impact qualified applicants.

105

105

CPA Practice

JULY 22, 2024

Avalara, Inc. and KPMG LLP have announced a strategic alliance to deliver greater value to enterprise businesses, the companies have announced. Avalara is a provider of tax compliance automation software for businesses of all sizes, and KPMG is one of the world’s largest audit, tax, and advisory firms. The new alliance allows organizations to leverage the combined power of Avalara’s compliance automation technology – including indirect tax calculation, returns, exemption certificate management,

Technology 116

Technology Tax tax consultant audit 116

Accounting Insight

JULY 22, 2024

The annual accounting trends survey, conducted by Caseware over the last three years, has become a valuable source of data, helping us to gain insight into what’s on the road ahead for the profession. By tracking the same questions over the years, we are able to gain a valuable comparative study and a clearer understanding of the current trends and developments playing out.

Account 104

Account accounted accountant audit 104

CPA Practice

JULY 22, 2024

Jeff Ostrowski Bankrate.com (TNS) Mortgage rates broke below the 7% barrier this week, according to Bankrate’s latest lender survey. It was the first time since February that the average 30-year rate was in the sub-7 range. The reason: optimism that the Federal Reserve might cut rates in the near future. The 30-year mortgage rate fell to 6.92%. The 15-year rate fell to 6.92% and the 30-year jumbo to 6.92%.

Oklahoma 115

Oklahoma 115

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

payroll

Insightful Accountant

JULY 22, 2024

Retirement savings plans, particularly a 401(k), are a major consideration for many workers. Financial professionals can play a key role in helping businesses establish these plans, but the process can often be complex and time-consuming.

98

98

CPA Practice

JULY 22, 2024

By Jarrell Dillard, Bloomberg News (TNS) Initial applications for U.S. unemployment benefits rose last week by the most since early May and continuing claims jumped, adding to evidence of a softening labor market. Initial claims increased by 20,000 to 243,000 in the week ended July 13, matching the highest level since August 2023, according to Labor Department data released Thursday.

Missouri 111

Missouri Georgia Pennsylvania Texas 111

Accounting Today

JULY 22, 2024

Social engineering raises some serious questions about data protection and compliance of accounting firms.

accounting firms 93

accounting firms Account accounted accountant 93

CPA Practice

JULY 22, 2024

Forwardly, a modern payment solution for small businesses, announced on July 16 the launch of its integration with FreshBooks, offering FreshBooks clients in the U.S. faster payment options like instant payments and same-day ACH along with automatic reconciliation. With this integration, FreshBooks users will be able to receive funds instantly from their clients, pay vendor bills on time, and experience a seamless four-way sync feature, automatically syncing all their financial data—including in

accounting software 111

accounting software accounted accountant Account 111

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

Finance

LSLCPAs

JULY 22, 2024

As we approach the end of 2025 (which will be here before we know it!), significant changes to the estate tax law are on the horizon, which could greatly affect your tax planning strategies. Currently, the estate tax exemption stands at approximately $14 million, but on January 1st, 2026, it is scheduled to be slashed. The post Estate Tax Law Sunsets December 2025: Build the Right Estate Planning Team Now to Protect Your Wealth appeared first on LSL CPAs.

Tax 91

Tax cpas tax planning 91

CPA Practice

JULY 22, 2024

By Ava Mandoli, Inc. (TNS) Rudeness, hostility, and negativity: probably not words you’d want a worker to associate your business with, even after they leave. Yet, a quarter of workers said their managers responded in one of those three ways when they chose to leave their company, according to new data from research firm Gallup. Another 10 percent of workers said they were met with indifference or a total lack of acknowledgement.

109

109

Accounting Today

JULY 22, 2024

Thomson Reuters announced the general release of Checkpoint Edge with CoCouncil, now sporting an AI-Assisted Research feature for tax research as well.

Sports 60

Sports Tax 60

CPA Practice

JULY 22, 2024

Jon Healey Los Angeles Times (TNS) Talk about irony: The software that paralyzed Windows computers around the world late Thursday night and early Friday morning was planted by a company that protects Windows computers against malware. That company is CrowdStrike, a publicly traded cybersecurity firm based in Austin, Texas. It acknowledged the problem around 11 p.m.

Texas 91

Texas Hospitality Transportation California 91

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

CPA

Accounting Insight

JULY 22, 2024

Pass rates have been announced by ACCA (the Association of Chartered Certified Accountants) for students who sat their exams in June 2024. 107,506 entered for the June sitting, which saw 124,727 exams completed. Alan Hatfield, executive director – content, quality and innovation, said: ‘As we reach the midpoint of the year, I’m delighted to see such a strong set of results and would like to congratulate the students who have achieved success in this session.

accounting and finance 59

accounting and finance audit management accounting management accounts 59

CPA Practice

JULY 22, 2024

In a letter of support to Congressman Darin LaHood (R-IL), the American Institute of CPAs (AICPA) expressed its endorsement of provisions of H.R. 8864, the Tax Administration Simplification Act, which would apply the mailbox rule to electronically submitted tax returns and payments and would revise the estimated tax payments deadline to fall on a true quarterly interval.

Tax 59

Tax tax return cpas 59

Accounting Today

JULY 22, 2024

Service line leaders stand at the point where a firm's overall strategy meets the delivery of its actual services, says Sarah Dobek of Inovautus Consulting.

accounting firms 58

accounting firms accountant accounted Account 58

CPA Practice

JULY 22, 2024

Equity partner compensation at the top 100 accounting firms (excluding the Big Four) was $839,687 in 2023, up from $620,936 in 2019, according to data from INSIDE Public Accounting (IPA). Ahead of releasing its top 500 accounting firm rankings for 2024 and new analysis of the top 100 firms next month, IPA published stats showing how much staff and partner compensation has risen in the past four to five years.

top accounting firms 59

top accounting firms accounting firms public accounting accountant 59

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

Spend Management

Insightful Accountant

JULY 22, 2024

The recent case of Gagliardi v. Prager Metis CPAs LLC (No. 1:23-cv-07454, S.D.N.Y. 2024) has sent ripples through the tax preparation community, serving as a stark reminder of the potential consequences for practitioners to file on time.

Tax 52

Tax tax preparation cpas 52

Accounting for Good

JULY 22, 2024

Expsoure directly influences the financial health of NFPs. In challenging financial climates, NFPs must look to enterprising decision-making.

52

52

CPA Practice

JULY 22, 2024

The CEO and president elect of the National Association of State Boards of Accountancy (NASBA) has selected four people to join the leadership team once current NASBA President and CEO Ken Bishop retires later this month. Daniel Dustin, who was selected to succeed Bishop last April , chose Kent Absec, Brenner (Brie) Allen, William (Bill) Emmer, and Sedrik Newbern as new members of the leadership team, effective on Aug. 1.

North Carolina 52

North Carolina Idaho Kentucky CPA 52

Wellers Accounting

JULY 22, 2024

Charlie Tredwell ACA explores the Agricultural Grants available and their impact in terms of your accounts and tax position.

Agriculture 52

Agriculture Tax Account accounted 52

Advertisement

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.