Wed.Jan 03, 2024

article thumbnail

States cut taxes in 2024

Accounting Today

Fifteen states are reducing either individual or corporate income taxes this year, with some states trimming both individual and corporate taxes, among 34 states starting the year with significant tax changes.

Tax 134
article thumbnail

2024 Game Plan: A bold approach to break the mold and redefine success!

Insightful Accountant

Your golden ticket to transformation. It's not flipping the calendar, but writing the story of 2024. Get ready for innovation, growth, and endless opportunities in the evolving landscape.

Gaming 119
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

What other advice do tech vendors have for 2024?

Accounting Today

It's not all about AI. Solutions providers also stressed the need to keep up with regulations, evaluate tech stacks, and embrace innovation, among other things.

article thumbnail

U.S. Small Businesses Saw Job Growth for All of 2023

CPA Practice

U.S. small businesses experienced job growth for all of 2023 and extended a cycle of consistent job growth for 33-straight months, according to December data from the Paychex Small Business Employment Watch. The Small Business Jobs Index closed the year at 101.21 (1.2% growth), while hourly earnings growth for U.S. workers in December (3.48%) was down from 4.93% in December of 2022.

article thumbnail

Building a Business Case for Finance Automation

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.

article thumbnail

TIGTA head J. Russell George has died

Accounting Today

J. Russell George, the longtime leader of the Treasury Inspector General for Tax Administration, died Monday after an unspecified prolonged illness.

Tax 122
article thumbnail

Accountants Aren’t the Scarediest About How AI Will Affect Them

Going Concern

We got a pitch from “GenAI customer support experts DevRev” via email today that says accountants are third most worried about advancements in AI according to an analysis of search data for terms like “how will AI affect __” and “will AI replace _.” Meaning accountants are asking these questions quite a bit, just not as much as lawyers (#1) and artists (#2).

Account 115

More Trending

article thumbnail

Sorry, Private Equity, RSM Doesn’t Want Your Money

Going Concern

FT published an interview today with Brian Becker , RSM US CEO and managing partner since 2022, in which he states RSM will not be jumping on the private equity train that some firms have embraced this decade. Who says the old partnership model is dead? The $3.7bn-in-revenue firm had no need to bring in private capital to fund expansion or to allow partners to cash out early, he said, and he expressed scepticism about the business models being pursued by US rivals.

article thumbnail

January's QB Talks is a 2024 ProAdvisor Meetup

Insightful Accountant

Murph will host a 'open mic' ProAdvisor Meetup for the first Insightful Accountant QB Talks of 2024. ProAdvisors are invited to this discussion of issues surrounding the ProAdvisor Awards, the ProAdvisor Program and QuickBooks Desktop.

article thumbnail

Green Energy Incentives

Summit CPA

Dave Danic, Director of Tax at Summit Virtual CFO by Anders, has an update about green energy incentives.

Tax 98
article thumbnail

More about the QBO Advanced Fixed Asset Feature

Insightful Accountant

We introduced you to the Fixed Asset Feature in QBO Advanced last August, now we want to show you some more details.

105
105
article thumbnail

Fall In Love With the Month-End Close

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.

article thumbnail

Finance and accounting teams navigate the impact of inflation in 2024

Accounting Today

There is no question that inflation can materially impact a business, and F&A teams have the responsibility to monitor and analyze core costs that may be trending upward.

article thumbnail

2024 State-by-State List of Sales Tax Holidays

CPA Practice

Sales tax holidays are all the rage right now. There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024. If you’re in retail, hang on to your hats and read our sales tax holiday FAQ to learn: What is a sales tax holiday? Do all states have a tax holiday? What products are included in tax-free weekends? Do tax-free weekends have price restrictions?

Sales 78
article thumbnail

Small business wage growth moderated in December

Accounting Today

The average pace of job growth in 2023 remained above the growth rate leading up to the pandemic.

payroll 85
article thumbnail

The Pros and Cons of Outsourced Accounting Services: Making an Informed Choice

Basis 365

In today's dynamic business landscape, optimizing efficiency and streamlining costs are crucial for success. One area where many companies are finding significant advantages is by outsourcing their accounting and bookkeeping services. But, is handing over the reins of your finances the right move for your business? This comprehensive guide delves into the pros and cons of outsourced accounting, empowering you to make an informed decision about your financial future. 1.

Account 65
article thumbnail

Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

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.

article thumbnail

Tax credits to Intuit better spent to fund a free alternative to TurboTax, Warren says

Accounting Today

In the fiscal year ending in July 2023, Intuit received $106 million in federal research and experimentation credits, which amounted to about 4% of its total R&D expenses.

Tax 81
article thumbnail

The Crucial Role of Building a Portfolio Management Process in Every Business?

Withum

Portfolio management is a growth-oriented function that drives continuous improvement in a business by leveraging project managerial frameworks, processes, and controls. Within a company’s portfolio of projects, portfolio management is the process that optimizes and measures Return on Investment (ROI) through strategic project selection and helps develop a roadmap that supports the goals of a strategic vision.

article thumbnail

Watchdog investigates accountant over bankrupt UK council

Accounting Today

The U.K.'s audit and accountancy regulator has opened an investigation into an accountant following solar farm investments made by a now bankrupt local authority.

Account 80
article thumbnail

State CPA Society News & Updates: Jan. 2024

CPA Practice

State CPA Society News & Updates is a round-up of recent announcements and initiatives by CPA associations in the United States and its territories. The California Society of CPAs is hosting the Real Estate Virtual Conference on January 30, 2024. The conference is designed for CPAs, attorneys, and other professionals that advise individuals with real estate holdings in California.

CPA 64
article thumbnail

Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

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.

article thumbnail

Financial Accounting Foundation looks for new trustees

Accounting Today

The FAF, which oversees FASB and GASB, is asking for nominations for at-large trustees.

article thumbnail

ATA CPAs + Advisors Merges in Memphis Firm Whitehorn Tankersley & Davis

CPA Practice

Top 200 accounting firm ATA CPAs + Advisors has expanded its presence in western Tennessee after combining with Memphis-based Whitehorn Tankersley & Davis PLLC on Jan. 1. Financial terms of the deal were not disclosed. The merger with WTD adds 18 professionals to the ATA team, including partners Lee Hood and Jeff Hunter, as well as principal Steve Davis.

cpas 59
article thumbnail

In the blogs: The fun begins 

Accounting Today

BOI reporting opens; Offender of the Year; state extensions; and other highlights from our favorite tax bloggers.

Tax 60
article thumbnail

Bloomerang @ QuickBooks Connect 2023

Insightful Accountant

Bloomerang helps nonprofits deliver a better giving experience so they can raise more funds and create lasting change.

article thumbnail

Cash Flow Secrets Every Upskilled CPA Should Know

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.

article thumbnail

Rene Benko's family villa targeted by Austrian tax authorities

Accounting Today

The tax lien is a new headache for the luxury retail and real estate tycoon as he tries to stem a flood of insolvencies that have swamped his sprawling empire.

article thumbnail

Your 5-Step Process for Process Improvement

Ryan Lazanis

Streamlining your operations can improve your firm's scalability. In this episode, I'll share my 5-step process to enhance your workflows. The post Your 5-Step Process for Process Improvement appeared first on Future Firm.

article thumbnail

IRS Increases Enforcement on Aggressive Employee Retention Credit Claims

Dent Moses

The IRS announced enforcement action against dubious Employee Retention Credit (ERC) claims by sending over 20,000 letters to taxpayers notifying the recipients of disallowed ERC claims. This compliance effort results from a review revealing many taxpayers didn’t meet the ERC criteria. Recipients not eligible for the credit will receive Letter 105 C, “Claim Disallowed.” The ERC is a refundable tax credit designed to aid businesses that continued paying employees during the COVI

audit 52
article thumbnail

Moss Adams Admits 20 New Partners

CPA Practice

Top 15 accounting firm Moss Adams has added 20 new partners, five managing directors, and an executive director across its tax, assurance, and advisory practices and national office. “For over 100 years, we’ve supported organizations as businesses advisors and accountants,” Moss Adams Chairman and CEO Eric Miles said in a statement on Jan. 3. “The accounting profession continues to evolve as business needs change.

article thumbnail

Profit in the Details: Rethinking Spend for Monumental Impact

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

article thumbnail

Guide: The Five Pillars of AI Success

Withum

A Comprehensive Guide for Business Leaders Download Guide Unlock the potential of AI for your organization with this comprehensive guide, “Building a Foundation for AI Success: A Leader’s Guide.” Gain valuable insights from Microsoft, Microsoft customers and partners and AI leaders, providing you with the knowledge to propel your business toward AI transformation.

article thumbnail

Form 6166, Tax Residency, and Why It Matters for Your Startup

Shay CPA

Expanding your operations abroad means that your business is doing well enough to scale in a big way. It’s a major milestone. But it can also come with a major tax burden if you’re not careful. Once you start operating internationally, your startup could be subject to the local tax laws of your foreign customers. That could mean a higher income tax rate or more value-added tax (VAT) than you expect.

Tax 52
article thumbnail

Business Lifestyle Analysis in Divorce

FraudFiles

Divorcing spouses who own one or more businesses need a detailed financial analysis in order to properly evaluate these interests. A Business Lifestyle Analysis may be performed to determine the true income of the company and find out where the money is really going. Tracy Coenen talks about how she analyzes the detailed accounting records [.

Account 52
article thumbnail

Elizabeth Manso on Embracing Technology, Meaningful Relationships, and Remote Work

Canopy Accounting

Elizabeth Manso, President and Founder of Brigade shares how her firm bravely embraced technological transformation, relationship-building and client engagement. She discusses the strategies that allowed her team to successfully implement remote work practices, all while maintaining a robust team dynamic.

article thumbnail

Navigating Bleisure Travel: A Guide for Mid-Sized Companies

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.