AI means fewer firms will charge by the hour
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.
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.
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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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.
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.
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.
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.
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,”
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
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.
ThomsonReuters
JULY 9, 2024
In a landmark decision that has sent ripples through the legal and tax communities, the recent Loper Bright ruling has the potential to reshape the landscape of federal tax in significant ways. As businesses and individuals alike scramble to understand the implications of this pivotal case, Checkpoint turns to an expert who can shed light on the complexities and consequences of the ruling.
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
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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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.
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
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.
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.
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.
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.
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.
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.
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.
Accounting Today
JULY 9, 2024
The Top 50 Firm is expanding in Western Michigan.
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.
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.
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.
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.
Accounting Today
JULY 9, 2024
The rich and the audits; after Beryl; just ask; and other highlights from our favorite tax bloggers.
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.
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.
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.
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.
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).
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
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.
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.
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.
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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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.
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