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 89

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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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 116

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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Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

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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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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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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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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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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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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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By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.

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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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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 100

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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Accounting firms must embrace digital transformation to stay competitive. From improving efficiency and client experience to ensuring data security, digital tools offer the edge needed in a digital-first world. Discover how Fincent can streamline your transition. The accounting industry faces a digital revolution. As technology reshapes business, firms must adapt or risk obsolescence.

Tax

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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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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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 62

CPA Practice

JULY 9, 2024

Xero , the global small business platform, has announced the return of the Xero Beautiful Business Fund for 2024 — an initiative offering more than $460,000 in funding to support small businesses and non profits with their growth plans and help drive future success. Entries for the Xero Beautiful Business Fund are officially open to Xero small business customers in Australia, Canada (excluding Quebec), New Zealand, Singapore, South Africa, United Kingdom and the United States.

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Non-Profits Manufacturing Gaming 59

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Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.

Expense Management

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 69

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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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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Speaker: Duke Heninger

With the rise of fractional finance roles, many CFOs, FP&A professionals, controllers, and accountants are stepping into independent consulting. The expansion of fractional services presents new opportunities for finance professionals, but many face challenges in navigating this transition, finding it daunting. Whether you’re new to fractional work or refining your approach, this webinar will equip you with a repeatable system for success.

accounting and finance

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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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

Speaker: Igli Laci, Strategic Finance Leader

In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a

Finance

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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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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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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Insightful Accountant

JULY 9, 2024

Rightworks is re-branding this year in a big way. If you missed out on the RightNOW conference last month, be sure to mark your calendars for 2025.

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Year-end can be a hectic time for HR professionals, but with proper planning and organization, you can navigate it smoothly. Learn the main watch outs for year-end HR prep with Paycor’s helpful checklist covering employee data, wage and tax information, and special situations. Ensure compliance and efficiency by downloading today!

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