Accounting Today

JULY 9, 2024

A recent poll found professionals predict that as AI makes jobs more efficient, firms will move away from the billable hour model in favor of value pricing.

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Tax 94

TaxConnex

JULY 9, 2024

Sales tax compliance has many moving parts, not just in the filing but in everything that goes into making sure you stay on the legal side of the jurisdictions where you have sales tax nexus. Just remember, a lot can go wrong along the way. 1. Billing systems You charge the customers sales tax for online purchases, they pay and you remit the money to the tax jurisdictions.

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Sales Tax Colorado tax return 235

Accounting Today

JULY 9, 2024

Estate attorneys are creating revival trusts aimed at extending wealth until people who get cryonically preserved can be revived, even if it's hundreds of years later.

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Tax 122

CPA Practice

JULY 9, 2024

Professionals taking part in the Thomson Reuters 2024 Future of Professionals report predict that artificial intelligence (AI) has the potential to save them 12 hours per week in the next five years, or four hours per week over the upcoming year – equating to 200 hours annually. This timesaving potential is the equivalent productivity boost of adding an extra colleague for every 10 team members on staff.

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Legal Maine Tax 115

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

Accounting Today

JULY 9, 2024

The firms in this year's VAR 100 see clients focusing ever-more strongly on the cloud — even as they suffer from 'change fatigue.

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accounting software accountant accounted Account 128

CPA Practice

JULY 9, 2024

Monthly inbound cargo volume at the nation’s major container ports is continuing to rise despite a variety of supply chain challenges, according to the Global Port Tracker report from the National Retail Federation and Hackett Associates. “Lulls between supply chain challenges seldom last long, and importers are currently looking at issues including high shipping rates, unresolved port labor negotiations and continuing capacity and congestion issues from the ongoing disruptions in the Red Sea,”

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CPA Practice

JULY 9, 2024

The IRS on July 8 released a fact sheet regarding misleading tax advice that has proliferated on TikTok and other social media platforms, specifically on scams centered around the Fuel Tax Credit, the Sick and Family Leave Credit, household employment taxes, and overstated withholding. The fact sheet includes nine frequently asked questions (FAQs) and answers about the two tax credits and what taxpayers should do if they’ve fallen for one of the scams, among other things.

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Tax tax return audit 105

Cherry Bekaert

JULY 9, 2024

Revised Form 6765 for R&D Tax Credit On Friday, June 21, 2024, the Internal Revenue Service (IRS) released a revised Form 6765 to report the Section 41 Credit for Increasing Research Activities (R&D Tax Credit). This is proposed to be effective for tax years beginning after December 31, 2024. Within the new form, certain taxpayers are required to provide more detail regarding the research and development (R&D) projects being performed.

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CPA Practice

JULY 9, 2024

Avalara, Inc. , a provider of tax compliance automation software for businesses of all sizes, has published new analysis exploring the impact of cross-border complexity on businesses and consumers globally. The findings reveal a complex compliance landscape and a disconnect between consumer expectations and the realities of cross-border commerce. Cross-border complexity impacts growth for all businesses Overall, 82% of businesses surveyed around the world indicated that cross-border compliance c

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E-commerce Technology Tax 105

GrowthForceBlog

JULY 9, 2024

6 min read July 9th, 2024 Cash flow is the lifeblood of every business. Healthy cash flow is vital to ongoing operation, growth, and success. Key Takeaways Improving Cash Flow for Construction Businesses: About 90% of construction jobs go over budget. So, it's essential that you factor in unexpected costs and changes into your initial estimates, have agreements in place to help finance increased costs, and bill for the right amount after work is completed.

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Construction Finance 89

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

JULY 9, 2024

For the first time since January, small business hiring declined in June as many small-to-midsized businesses are struggling to find skilled labor to meet the demand for their goods and services, according to top 15 accounting firm CBIZ. The CBIZ Small Business Employment Index (SBEI), which tracks hiring trends among thousands of companies with 300 or fewer employees across the U.S., reported a seasonally adjusted decrease of 0.08% in June, a month that historically experiences job gains with t

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Entertainment Non-Profits small business accounting payroll 98

Accounting Today

JULY 9, 2024

While the IRS and the Treasury have committed to tax administration equity, the Government Accountability Office recently found potential unintended biases in some of the systems and methods used by the IRS for audit selection — meaning some populations may be getting selected for audits at a higher rate than others.

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audit Tax Government accountant 122

KROST

JULY 9, 2024

Effective February 16, 2021, Proposition 19 went into effect and made sweeping changes to property tax reassessments. Here are the current property tax exemptions available in California: 1. Homeowners’ Exemption The California Constitution provides for the exemption of $7,000 in assessed value from property tax assessment of any property owned and occupied as the owner’s Read the full article.

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California Tax 79

Insightful Accountant

JULY 9, 2024

Insightful Accountant has launched the 2025 U.S. ProAdvisor Awards. ProAdvisors from the U.S. may apply, but we also encourage the nomination of your favorite ProAdvisor by fellow ProAdvisors and colleagues.

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accountant Account accounted 81

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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.

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Accounting Today

JULY 9, 2024

The Top 25 Firm in New York has added an assurance, tax and advisory firm in Worcester, Massachusetts, the latest in a series of acquisitions since it received private equity funding.

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Massachusetts New York Tax 72

Going Concern

JULY 9, 2024

The Times has reported that Grant Thornton UK is “exploring a radical plan” to sell off some of its non-audit business to private equity. Shocker. No solid details yet, only that they appear to be shopping around. Grant Thornton UK has begun sounding out private equity firms over a potential deal that could see them buy into the business, which is jointly owned by more than 200 partners.

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audit Sales 65

Accounting Today

JULY 9, 2024

Only 5% of total local tax comes from income taxes nationwide, but some states rely on it much more.

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income tax Tax 102

AccountingDepartment

JULY 9, 2024

Managing a business isn’t easy. Amongst juggling various roles and responsibilities, ensuring your financial health often becomes a daunting task. One powerful tool to help you stay on top is cash flow analysis.

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accountant accounted Account 64

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

Anders CPA

JULY 9, 2024

A startup and funding source survey conducted by Anders Startup team found that securing late-stage startup funding is a top challenge for founders in St. Louis and surrounding areas. While the region has bountiful opportunities to access angel investor capital and other early-stage funding sources, a lack of later-stage funding could inhibit the city’s growth as a startup hub.

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CPA 64

Accounting Today

JULY 9, 2024

A ruling in the Corner Post case that makes it easier to sue over government regulations will cause 'chaos,' says one expert.

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Government 75

Cherry Bekaert

JULY 9, 2024

On December 31, 2025, the current federal lifetime estate and gift tax exemption amount is scheduled to revert to pre-2018 limits, effectively reducing the tax benefit by 50%. This has the potential to greatly impact investment fund managers and other high-net-worth individuals. Without adequate and timely estate planning, these individuals may miss out on potentially millions of dollars in tax benefits.

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Tax 52

SchoolofBookkeeping

JULY 9, 2024

A recent Intuit QuickBooks survey reveals that the greatest risk to the accounting industry is failing to keep up with technological advancements. This risk surpasses concerns about higher interest rates, rising costs, and hiring challenges. These insights come from the 2024 Intuit QuickBooks Accountant Technology Survey , which surveyed 700 accountants in the US.

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Technology quickbooks CPA accountant 52

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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.

Insightful Accountant

JULY 9, 2024

Insightful Accountant's Be Insightful membership program kicks off July 15 with the first event scheduled for July 18, followed by the 23rd and 30. Join now to get the most out of the program. Join by July 30 for the best rate.

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accountant Account accounted 52

CPA Practice

JULY 9, 2024

In a letter to the U.S. Securities and Exchange Commission (SEC) last week, the American Institute of CPAs (AICPA) commented on RIN 1506-ab66, Customer Identification Programs for Registered Investment Advisers and Exempt Reporting Advisers as proposed by the Financial Crimes Network (FinCEN). The proposed ruling under FINCEN 2024-10738 specifically addresses concerns regarding the implications of the proposed regulations on Registered Investment Advisers (RIAs).

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cpa firm cpas public accounting CPA 52

LSLCPAs

JULY 9, 2024

My family and I are big fans of Benjamin Franklin and his writings. As we just celebrated Independence Day last weekend, I thought it would be fun to share with you a few nuggets from his famous essay “The Way to Wealth”, written in 1758. Ben was a staunch advocate for personal liberty and financial. The post Celebrating Financial Independence: Lessons from Ben Franklin appeared first on LSL CPAs.

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cpas 52

CPA Practice

JULY 9, 2024

In a move that will expand its footprint in western Michigan, top 40 accounting firm Rehmann will be combining with fellow Michigan-based firm Walker, Fluke & Sheldon (WFS), effective Aug. 1. Operating under the Rehmann name, WFS’s three Michigan locations in Hastings, Ionia, and Richland will remain open, and all employees will continue to work in their respective offices.

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cpa firm Michigan CPA bookkeeping 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

JULY 9, 2024

Withum is proud to share that the Orange County Business Journal named us a 2024 Best Place to Work in Orange County ! Withum was recently recognized as one of the best places to work in Orange County for large businesses in 2024. The list was designed to identify, recognize and honor the best places of employment in Orange County, California, benefiting the county’s economy, workforce and businesses.

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California 52

Menzies

JULY 9, 2024

Menzies LLP - A leading chartered accountancy firm. The UK electorate may have voted for a change in government, but underpinning the Labour manifesto is a strong emphasis on stability. Whilst in some key policy areas it remains to be seen what practical changes will apply to businesses in the manufacturing space, there is no doubt that the sector will be impacted by a wide range of policies.

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Manufacturing corporation tax chartered accountant Government 52

CPA Practice

JULY 9, 2024

Top 25 accounting firm Citrin Cooperman has acquired S&G LLP, a Worcester, MA-based assurance, tax, and advisory firm. Financial terms of the deal weren’t disclosed. The New York-based CPA firm acquired the attest assets of S&G, while Citrin Cooperman Advisors acquired S&G’s remaining assets. S&G joins Citrin Cooperman with five partners and more than 30 professionals, expanding the firm’s presence in the New England region.

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cpa firm CPA New York Tax 52

Summit CPA

JULY 9, 2024

Our team has returned from several top industry events where the general mood is improving across the board. Based on what we see as we update our clients’ forecasts with the final Q2 numbers, we concur: business looks like it's picking up in Q3 and Q4, with shorter sales cycles and clients ready to pay top dollar for specialized projects.

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Sales CPA accountant accounted 52

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