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There’s nothing like just walking down the hall of your office or clicking into a virtual team meeting to get an answer on something as complex and important as your company’s sales tax obligations. To handle sales tax in-house, you need someone on staff who understands evolving rules and regulations; can track a galaxy of filing deadlines and notices; and understands how your company growth changes tax obligations.
Firms must transform their business models to afford the cost of multilayered retention strategies, a new report by the Pennsylvania Institute of CPAs says.
By Sarah Lynch, Inc. (TNS) Family businesses are gearing up for growth. Seventy-four percent of U.S. family businesses are anticipating at least 10 percent growth this year, according to newly released data from Family Enterprise USA, a nonprofit and advocacy group that promotes family businesses. While the organization’s full report—the Annual Family Business Survey—has not yet been released, the organization shared that these growth expectations mark a “significant jump from the prior year.
As of April 11 of this year, if a foreigner wants a Skilled Worker visa to work in the UK they must earn a minimum of £38,700 (about $48k USD), up from the prior minimum of £26,200, unless the work falls under a small category of jobs on the shortage occupation list like health and care workers, graphic designers (take that, Canva), and veterinarians.
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The Department of Treasury and Internal Revenue Service have issued final regulations describing rules and definitions for the transfer of eligible credits in a taxable year, including specific rules for partnerships and S corporations. The Inflation Reduction Act and the Creating Helpful Incentives to Produce Semiconductors act (CHIPs) enable taxpayers to take advantage of certain manufacturing investment, clean energy investment and production tax credits through elective pay or transfer provi
Insightful Accountant is looking for a few Good ProAdvisors who want to contribute an analysis of apps we intend to compare. Do you like to review apps, more importantly, do you regularly work with a few great apps, you might be our Pros.
When you have a small or mid-size business, one of the issues you can run into is not having all the departments a larger company would have. In other words, you might not have dedicated employees for HR, accounting, and other areas.
When you have a small or mid-size business, one of the issues you can run into is not having all the departments a larger company would have. In other words, you might not have dedicated employees for HR, accounting, and other areas.
By Jason Green, Silicon Valley, San Jose, Calif. (TNS) A former accountant for a Richmond, CA-based paving company is facing allegations she embezzled more than $800,000 from the firm, according to prosecutors. Angela Fae Brown, 53, of Olivehurst, CA, is charged with embezzlement, money laundering, identity theft, and tax evasion, the Contra Costa County District Attorney’s Office said in a news release.
A recent experiment tested different generative AI models against each other on the CPA Exam and found they each have their own strengths and weaknesses.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
To kick off the 2024 Project and address the pressing challenges of recruiting, retaining, and promoting women in the accounting profession, the Accounting MOVE Project is thrilled to announce its upcoming MOVE Mini Summit. Sessions will be delivered via the CPA Academy at 10 a.m. EDT daily on May 6, 7, 9 and 10. The innovative virtual event aims to empower accounting firm leaders with strategies to support the advancement of women and people of color in their organizations.
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Many clients tell me that a problem they have with tax season is getting everything together and they wish they were better organized. Here are some easy ways to become better organized and also become more aware of your tax and financial situation. Collect Tax Data Tax information comes up all year long, not just during the filing season when you receive the 1099s, K-1s, W-2s and all the other data you need.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
The pandemic was a challenging time for businesses, as companies were forced to adapt to a turbulent market, an unstable supply chain, and a remote work environment that was new to many. It also ushered in some positive changes in the workforce, including a steady rise in employment for people with disabilities. This shift is primarily due to the increase in remote work.
The Internal Revenue Service and the Treasury Department released final regulations on the transfer of clean energy manufacturing, investment and production tax credits, with specific rules for partnerships and S corporations.
One of the fastest growing UK companies of 2024, cloud accounting software developer iplicit , announces its collaboration with Konnekt365 , a leading mobile app developer, to introduce a new student expenses solution for expense claims – ‘Student Expenses’. The ‘Student Expenses’ app is designed to seamlessly integrate with finance disruptor iplicit’s award-winning cloud accounting software, offering a simplified solution for expense claims made within some 600 student unions in the UK.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
A majority of companies (72%) either track or set aside fixed retention payments to encourage employees to remain at the company during or after an acquisition is completed, according to a survey by advisory, broking and solutions company WTW. C-suite executives and their direct reports are more likely to be offered retention agreements than other salaried employees.
An overwhelming 77% of registered voters in the seven states that will decide the 2024 presidential election like the idea of a billionaires tax to bolster Social Security shortfalls.
By Prashant Gopal Bloomberg News (via TNS) Mortgage rates in the U.S. increased for a fourth straight week. The average for a 30-year, fixed loan was 7.17%, up from 7.1% last week, Freddie Mac said in a statement Thursday. House hunters looking to land a deal during the typically busy spring season are having to dig deeper to afford a purchase. Borrowing costs have climbed fairly steadily since the beginning of the year, and a shortage of listings is pushing up prices in most areas of the countr
Cum-Ex was a tax-driven trading strategy in which a global network of bankers, lawyers and agents exploited loopholes on dividend payout laws across Europe to reap duplicate tax refunds.
Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
By Eduardo Castillo, The Wichita Eagle (TNS) A Kansas accountant has been accused of defrauding a business client and using the client’s money to build himself a home, federal prosecutors said. Quintin Flanagin, 43, of Colby, is a certified public accountant and is part owner of Williams Consulting, a Colby accounting firm. Flanagin was charged with seven counts of wire fraud, four counts of bank fraud, two counts of false statements and six counts of money laundering, a news release from U.S.
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As an accountant, advising your clients on retirement income taxes and related strategies can help them to optimize their financial planning in their golden years. That’s why it’s important to have a thorough understanding of the tax implications, contribution limits, and distribution rules associated with various retirement accounts, including 401(k)s, IRAs (Traditional and Roth), and pension plans.
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As an accountant, your clients look to you for retirement advice, including tax considerations for IRA plans, the tax benefits of different IRA types, taxes on IRA contributions and withdrawals, and inheritance-related topics. Below are some commonly asked questions on IRA tax considerations so you can optimize retirement strategies and provide personalized advice to your clients.
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When it comes to navigating the tax landscape of 401(k) contributions and withdrawals, it’s important for accountants to stay informed and help clients make tax-efficient decisions during their retirement years. Let’s take a look at some commonly asked questions and answers on 401(k) tax considerations for contributions and withdrawals. Jump to: Is a 401(k) pre-tax?
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