AccountingDepartment

DECEMBER 21, 2023

Outsourced client accounting services play a crucial role in helping businesses take control of their financials. These services involve outsourcing the accounting and bookkeeping tasks to a third-party service provider, allowing businesses to focus on their core operations. The role of outsourced client accounting services goes beyond basic bookkeeping; it includes managing accounts payable and receivable, payroll processing, financial reporting, and more.

bookkeeping 89

bookkeeping accountant Account accounted 89

Acterys

DECEMBER 21, 2023

From startups to multinationals, Microsoft Excel is at the core of countless organization’s reporting and financial planning and analysis (FP&A). IDC reveals that 64% of businesses still lean on spreadsheets for their financial operations. Excel’s appeal lies in its simplicity and cost-effectiveness, but it’s not without limitations.

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Government accounting and finance Start-ups Maine 246

TaxConnex

DECEMBER 21, 2023

It’s the end of the year and as we all start to think about our New Year’s resolutions, it’s also a good time to start thinking about correcting any sales tax missteps your business may be facing. Maybe you’ve just figured out that you have nexus and were non-compliant without realizing it, or maybe you’ve been rolling the dice and crossing your fingers you won’t get audited but your liability is growing and you’re ready to make a change – no matter your situation, if you have established nexus,

Sales 251

Sales Tax audit tax accountant 251

Going Concern

DECEMBER 21, 2023

Although hiring a former PCAOB staffer and using their insider knowledge to improve your inspection rate is highly frowned upon as KPMG learned in 2019 , the PCAOB does throw audit firms a bone and release things like the December 20th “Staff Priorities for 2024 Inspections and Interactions With Audit Committees” spotlight [ PDF ] to warn them what to look out for in future inspections.

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auditor audit financial statements 119

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

DECEMBER 21, 2023

Those 73 and older need to make sure they're taking their required minimum distributions from IRA and other retirement accounts.

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accountant Account accounted Tax 131

Withum

DECEMBER 21, 2023

Withum is thrilled to share that Lena Combs, Partner and Practice Leader of Withum’s Hospitality Services Practice, has been inducted into the International Society of Hospitality Consultants (ISHC). ISHC is the leading source of global hospitality expertise. Membership in ISHC is by invitation only, and members are viewed as leaders in their respective areas of expertise.

Hospitality 105

Hospitality audit accountant Account 105

Insightful Accountant

DECEMBER 21, 2023

Intuit's latest release updates to QuickBooks Desktop 2024, 2023 and 2022 are aimed as "Mass Migration" to QuickBooks Online.

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quickbooks 111

Accounting Today

DECEMBER 21, 2023

The IRS is forming a centralized oversight strategy for digital assets, but implementing it has been frustrated by delays in the regulatory approval process.

Technology 96

Technology 96

CTP

DECEMBER 21, 2023

Sometimes we don’t recognize a good thing until it is gone. For most, that is turning out to be the case with Qualified Opportunity Funds (QOFs). Often misunderstood and underutilized, QOFs provide a tremendous opportunity for long-term tax-free growth of wealth, similar to a ROTH IRA. Historical Background Opportunity Zones were created through the Tax Cuts and Jobs Act of 2017; a brainchild of a Silicon Valley entrepreneur, Sean Parker who made his fortune developing Napster, Spotify, and Face

Tax 85

Tax Real Estate accounting and finance Construction 85

Accounting Today

DECEMBER 21, 2023

Financial advisors and tax professionals serving self-employed and other entrepreneurial clients start with a choice between two methods, then make careful calculations.

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Tax 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

SkagitCountyTaxServices

DECEMBER 21, 2023

In many ways, year-end couldn’t come at a worse time. As if December holiday crazymaking wasn’t enough, as a business owner you’re also responsible for compiling an entire year’s worth of reporting data into comprehensible form for your accountant, with enough time to spare to make proactive decisions that will improve your tax standing and long-term profitability.

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bookkeeping Tax Sales CPA 78

Going Concern

DECEMBER 21, 2023

So longtime NASBA president Ken Bishop announced his retirement at NASBA’s 116th Annual Meeting held in late October/early November which obviously means they’re looking for a new one. His retirement is effective July 31, 2024. Bishop joined NASBA in 2007 and has held the president and CEO position since January of 2012. Prior to ascending to the role of president over the entire shebang, he was executive vice president and chief operating officer.

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CPA cpas Tennessee accountant 59

CPA Practice

DECEMBER 21, 2023

Finding a PIG in a Poke With the end of the year rapidly approaching, wealthy investors may be looking to “get dirty.” Specifically, they may want to invest in a PIG—the acronym for Passive Income Generator—to absorb suspended losses from other passive activities. This year-end strategy is a twist on techniques that investors often used in days of yore.

Real Estate 59

Real Estate Tax Start-ups 59

Accounting Today

DECEMBER 21, 2023

The board's target team shared the results of its in-depth exploration of emerging audit risk.

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audit 80

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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.

financial statements

CPA Practice

DECEMBER 21, 2023

U.S. employers are planning an overall average salary increase of 4.0% for 2024. That’s according to the latest Salary Budget Planning Survey by WTW, a global advisory, broking and solutions company. Though down from the actual average increase of 4.4% in 2023, the numbers remain well above the 3.1% salary increase budget in 2021 and years prior. Inflationary pressures (55%) and concerns over a tight labor market (52%) are the primary influencing factors behind salary increase budgets, both cite

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Accounting Today

DECEMBER 21, 2023

Often enough, creating capacity isn't about hiring people.

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CPA Practice

DECEMBER 21, 2023

As macroeconomic trends upend long-term planning, business cycles are turning over faster than ever. Recent tax changes coupled with the potential for an economic slowdown have made it even more critical for companies and individuals to make smart decisions on investments and financing. To help companies and individual taxpayers understand their planning options, Grant Thornton LLP, one of America’s largest professional services firms, has released 2024 tax-planning guides for businesses and ind

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tax planning Tax Real Estate accounting and finance 59

Accounting Today

DECEMBER 21, 2023

Get with the Program; root causes; significant others; and other highlights of recent tax cases.

Tax 75

Tax tax preparation 75

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

DECEMBER 21, 2023

Figured is a farm financial management software that is helping farming teams across the United States, New Zealand, Australia, and the United Kingdom better manage the profitability of their operations.

quickbooks 52

quickbooks 52

CPA Practice

DECEMBER 21, 2023

Although a growing number of states have enacted paid sick leave laws, the share of the lowest-wage workers with access to that benefit has nearly doubled from 20% to 39% since 2010, according to a new Economic Policy Institute report. Overall, access to paid sick days has increased from 63% to 78% for all U.S. private-sector workers since 2010. However, lack of paid sick days is still a real problem for many workers—especially low-wage workers.

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CTP

DECEMBER 21, 2023

Sometimes we don’t recognize a good thing until it is gone. For most, that is turning out to be the case with Qualified Opportunity Funds (QOFs). Often misunderstood and underutilized, QOFs provide a tremendous opportunity for long-term tax-free growth of wealth, similar to a ROTH IRA. Historical Background Opportunity Zones were created through the Tax Cuts and Jobs Act of 2017; a brainchild of a Silicon Valley entrepreneur, Sean Parker who made his fortune developing Napster, Spotify, and Face

Tax 52

Tax Real Estate accounting and finance Construction 52

CPA Practice

DECEMBER 21, 2023

By Mike D’Avolio, CPA, JD. The Inflation Reduction Act of 2022 was signed into law Aug. 16, 2022, and provides numerous tax deductions and tax credits for individuals, families, and businesses. New tax incentives were added, and existing tax incentives were extended and enhanced. Now your individual clients can save money on their tax returns and conserve energy to help out the environment through tax credits for new clean vehicles and previously owned clean vehicles.

tax return 52

tax return Manufacturing Tax CPA 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.

Shay CPA

DECEMBER 21, 2023

Over here at ShayCPA, we’ve grown and learned a lot over the course of 2023. As I look back, I have a lot of gratitude. This year, there were quite a few different highlights. We had some amazing accomplishments, including hitting our ten-year anniversary. And we’ve navigated some roller coasters, too, from the Silicon Valley Bank collapse to generative AI’s potential.

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CPA quickbooks tax planning Tax 52

Summit CPA

DECEMBER 21, 2023

Virtual CPA Success Show Podcast Episode 106 Joey and Jody chat with Brandon Leibowitz, founder and operator of SEO Optimizers. They discuss the importance of consistency and quality in SEO, as well as the need for good content and the incorporation of social media. Brandon explains the changing landscape of Google's algorithms and the focus on high-quality content and backlinks, vs generating content for the sake of it.

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CPA 52

Accounting Today

DECEMBER 21, 2023

A recent survey has found that, aided by automation, the month-end close takes less than a week for the majority of organizations, and for many it's only 1-2 days.

Technology 58

Technology 58

Insightful Accountant

DECEMBER 21, 2023

Some of our readers have sent me an email asking that I republish my traditional English Christmas pudding recipe. So Happy Holidays!

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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.

Accounting Today

DECEMBER 21, 2023

If finalized by the board, the chapter would represent the completion of the FASB's Conceptual Framework.

accounting standards 61

accounting standards accounted Account accountant 61

CPA Practice

DECEMBER 21, 2023

By Lauren Stinson Since the South Dakota v. Wayfair ruling more than five years ago, economic nexus has remained as a huge factor for sales tax implications. Following the Supreme Court ruling, many states quickly adopted economic nexus laws, which have required companies selling in a multistate environment to collect tax in states that they have a substantial amount—as defined by each state—of sales.

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South Dakota Sales Tax tax return 49

Accounting Today

DECEMBER 21, 2023

New guidance from the IRS in Notice 2024-05 provides a safe harbor for certain vehicles.

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Tax 58