MyIRSRelief

NOVEMBER 17, 2023

S Corporations are a popular choice for many business owners due to their unique tax benefits. This article will answer some of the most frequently asked questions about S Corporation tax savings. What is an S Corporation? An S Corporation is a type of corporation that meets specific Internal Revenue Service (IRS) tax code requirements. The biggest feature of an S Corporation is that it provides its owners with limited liability protection, while allowing income and losses to be passed through t

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CPA Practice

NOVEMBER 17, 2023

The IRS said on Friday that it will not raise interest rates for the first calendar quarter of 2024. Beginning on Jan. 1, the rate for overpayments and underpayments for individuals will be 8% per year, compounded daily. Here is a complete list of the Q1 2024 rates: 8% for overpayments (payments made in excess of the amount owed), 7% for corporations. 5.5% for the portion of a corporate overpayment exceeding $10,000. 8% for underpayments (taxes owed but not fully paid). 10% for large corporate u

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Accounting Today

NOVEMBER 17, 2023

IFAC and FASB both appoint and reappoint board members; RSM raises $4.7M for nonprofits via Power of Love program; and more news from across the profession.

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Tax 122

CPA Practice

NOVEMBER 17, 2023

The Department of the Treasury and the Internal Revenue Service has issued proposed regulations that provide guidance under a new section of the law that disallows deductions for certain charitable conservation contributions by partnerships and other pass-through entities. Syndicated conservation easements have been included in the IRS’ annual list of Dirty Dozen tax schemes for many years.

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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.

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Accounting Today

NOVEMBER 17, 2023

Plus, Sage releases new Intacct features; Liscio unveils new upgrades aimed at enhanced client experience; and other accounting tech news.

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CPA Practice

NOVEMBER 17, 2023

AuditBoard, the leading cloud-based platform transforming audit, risk, IT compliance, and ESG management, has released its 2024 Focus on the Future report based on an annual survey of risk management and internal audit leaders across North America. The report reveals a growing gap between risk and assurance teams’ capacity to effectively manage risks and the reality of today’s state of “permacrisis,” an extended period of instability and insecurity marked by one disruptive crisis following anoth

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Accounting Today

NOVEMBER 17, 2023

Revised financial statements mark an attempt to "turn the page" for the scandal-struck Brazilian retailer

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Withum

NOVEMBER 17, 2023

Withum is excited to share that Zack Smith , Team Leader of the Real Estate Valuation Practice , has been appointed to the Board of Directors of the Upstate New York Appraisal Institute. The institute sponsors appraisal education, including courses and seminars that help professionals earn continuing education credits. As a member of the board, Zack will assist in administering these programs.

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Randal DeHart

NOVEMBER 17, 2023

If you have been lucky enough to encounter generous people, you understand they have a unique gift for garnering the respect and admiration of individuals around them. When you are a leader, having a positive relationship with the people who follow you is a huge asset you cannot put a price on. In the construction business, generosity and helpfulness are two fundamental traits that can make a business successful.

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KROST

NOVEMBER 17, 2023

KROST is attending the second annual CalCPA Los Angeles & Inland Empire Mt. SAC Accounting Conference. The event is in partnership with Mt. San Antonio College, where the conference will be held on Saturday, November 18th, from 7:00am to 2:00pm. This is a perfect opportunity for college and university students to hear firsthand experiences from Read the full article.

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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.

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Patriot Software

NOVEMBER 17, 2023

On January 1, 2024, employers with employees working in Minnesota are responsible for a new workplace standard—offering paid sick leave. How much do you know about the Minnesota paid sick leave law, known as Earned Sick and Safe Time?

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Accounting Today

NOVEMBER 17, 2023

A recent survey says a large majority of firms enjoyed increased revenue and profit this year, based partially on growing client advisory services and the adoption of value-based pricing.

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AccountingDepartment

NOVEMBER 17, 2023

We are thrilled to announce that Episode 6 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.

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Accounting Today

NOVEMBER 17, 2023

The regulations address new subsections of the law from the SECURE 2.0 Act.

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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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CPA Practice

NOVEMBER 17, 2023

Date: Tuesday, December 12, 2023 Time: 3 PM ET /2 PM CT / 12 PM PT / 8 PM GMT Sponsor: Canopy Duration: 1 Hour Receive 1 hour of free CPE credit for participating in this live webinar. Already registered for this webinar? Click here to log in. The writing is on the wall. The standard business model for accounting firms is reactive and transactional – and it’s on life support.

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Tax Indiana Education CPA 52

Accounting Today

NOVEMBER 17, 2023

How CPA firms can mitigate these risks with a hosting partner.

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cpa firm CPA Technology 101

Insightful Accountant

NOVEMBER 17, 2023

Canopy, an accounting software provider, unveiled on November 16, Canopy Engagements. This new feature empowers accountants to automate client experiences through professional engagement letters and proposals directly within the Canopy suite.

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Accounting Today

NOVEMBER 17, 2023

Rajiv Uppal will begin assisting with the agency's transformation work in early 2024.

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Technology Tax 78

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

Insightful Accountant

NOVEMBER 17, 2023

Judie McCarthy, Co-founder of Client Hub, walks you through the product to highlight the critical features to show you how Client Hub can help to significantly increase productivity in your firm and deliver an amazing client experience.

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Cherry Bekaert

NOVEMBER 17, 2023

GSP North America (GSP) is a leading aftermarket manufacturer and distributor offering superior Automotive Aftermarket Parts in North and Latin America. Headquartered in China, GSP manufacturers and distributes their products globally through a series of distribution centers throughout North America, China and Europe. GSP engaged Cherry Bekaert’s Digital Advisory and Risk & Accounting Advisory practice to be their reliable one-stop tech shop for all their technology needs.

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Accounting Insight

NOVEMBER 17, 2023

Today, investment platform Lightyear announces the highly anticipated launch of Spanish stocks. Lightyear has connected with Madrid and Barcelona stock exchanges to offer Spanish investors the chance to buy into the IBEX 35, where 35 of Spain’s biggest companies are listed. Recent data shows that investment in funds has quadrupled in the last decade, 1 but worryingly, few Spanish people invest. 2 The fintech aims to change this with transparent and low-cost access to international markets and it

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accountant Account accounted Finance 52

Canopy Accounting

NOVEMBER 17, 2023

In the ever-evolving world of finance, cryptocurrency has emerged as a revolutionary digital asset class. Powered by blockchain technology, a decentralized and transparent ledger system, cryptocurrency enables secure online transactions and offers unique opportunities for investment. With its potential to disrupt traditional financial systems, cryptocurrency has garnered significant attention from individuals and institutions alike.

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accountant Account accounted Finance 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.

FraudFiles

NOVEMBER 17, 2023

Would you recognize the clues that your client has been ripped off by one of its employees? Or would management conduct business as usual, blindly trusting their employees? Companies make the mistake of not actively searching for fraud.

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Canopy Accounting

NOVEMBER 17, 2023

You know you should use engagement letters in your tax resolution cases, but you need to figure out what your engagement letter should look like. Or you've finally decided to update the same old letter you've used for years. You may be fine-tuning your current letter, intent on taking it from great to flawless. Regardless, in seven simple steps, you're in the right place to learn how to construct an engagement letter properly.

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Construction Tax 40

Accounting Today

NOVEMBER 17, 2023

These six strategies might improve the flow of young people into the profession.

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Ronika Khanna CPA,CA

NOVEMBER 17, 2023

In a recent study by H&R Block, nearly 28% of Canadians reported taking on a side hustle in the “gig economy” to boost their income. This is a significant increase from 2022 in which the analogous percentage was 13%. This is likely a result of inflationary pressures and the expansion of opportunities available for flexible work. What is the Gig Economy?

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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.

CPA Practice

NOVEMBER 17, 2023

By Jim Wyss and Angelica Serrano-Roman, Bloomberg News (TNS) A group of U.S. lawmakers is asking tax authorities to accelerate an investigation into rich Americans seeking lucrative tax breaks in Puerto Rico. Twelve Democratic members of the House of Representatives asked the IRS on Friday to expedite a congressional request for information about efforts to root out people allegedly abusing Puerto Rico’s tax benefits.

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Accounting Today

NOVEMBER 17, 2023

Democratic lawmakers want the service to look into the possible abuse of tax breaks on the island.

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Cherry Bekaert

NOVEMBER 17, 2023

In response to President Biden’s recent Executive Order on Safe, Secure, and Trustworthy Artificial Intelligence (AI) , Cherry Bekaert stands at the forefront of innovative solutions that can help various clients navigate this evolving potential risk landscape. The Executive Order is a significant step for the United States in supporting AI. It plans to ensure AI development is safe, secure, private, fair and responsible.

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CPA Practice

NOVEMBER 17, 2023

Christopher Vondracek Minneapolis Star Tribune (TNS) Farm incomes across the Upper Midwest declined this summer, according to a new Federal Reserve Bank of Minneapolis survey. Forty-six percent of ag lenders say farm incomes fell during the July-September period, Joe Mahon, a regional outlook director with the Fed, said Thursday. Conditions can vary across the Fed’s ninth district — which includes Minnesota, the Dakotas, northern Wisconsin, the Upper Peninsula of Michigan and Montana — where 23%

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