Accounting Today

SEPTEMBER 20, 2024

Rev. Proc. 2019-48 lays out the new rates for taxpayers who don't want to substantiate their actual expenses.

Tax 133

Tax 133

MyIRSRelief

SEPTEMBER 20, 2024

Navigating the IRS appeals process can be daunting, but understanding the steps involved and knowing how to effectively present your case can significantly improve your chances of a favorable outcome. This comprehensive guide will walk you through the IRS appeals process, detailing each step and explaining how our representation tax firm can assist you.

Tax 130

Tax audit cpas Maine 130

Accounting Today

SEPTEMBER 20, 2024

The cuts include roughly 240 employees in RSM's consulting businesses, and come as demand for the profession's consulting services wanes.

130

130

Going Concern

SEPTEMBER 20, 2024

A tipster let us know about some layoffs going down at RSM this morning: There are a large amount of layoffs going on at RSM, specifically in the D365 practices, Risk Cyber Security, and MC (management consulting practices). Meetings were scheduled yesterday via Webex, not MS Teams, which is interesting as the firm uses MS Teams for all communications.

Management Consulting 111

Management Consulting Maine audit 111

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.

Finance

Accounting Today

SEPTEMBER 20, 2024

The unexpected demise of an audit firm proved a boon for many small auditors.

audit 126

audit auditor 126

CTP

SEPTEMBER 20, 2024

Client Advisory Services (CAS) have emerged as a crucial offering for accounting firms, evolving the traditional client-accountant relationship into a more strategic partnership. Defined by the AICPA as services where practitioners provide findings, conclusions, and recommendations to aid in client decision-making, CAS encompasses far more than mere compliance.

tax planning 98

tax planning Tax CPA accounting firms 98

Dent Moses

SEPTEMBER 20, 2024

Earlier this year, we wrote about beneficial ownership information (“BOI”) reporting requirements of the Corporate Transparency Act (“CTA”) signed in to law in January 2021. Click this link to see the original post. In Q4 of 2023 and Q1 of 2024, congressional leaders and professional associations made efforts to extend the deadline to make the initial and annual filings.

cpa firm 98

cpa firm Legal CPA Tax 98

Randal DeHart

SEPTEMBER 20, 2024

Your to-do list is often long and constantly growing longer when you're an entrepreneur. There are a lot of things you need to do, and it can feel like they're all urgent. In such cases, it's easy to push essential tasks to the side and focus on less vital activities, but that often means you miss deadlines, make mistakes, or always feel like you're trying to catch up.

Construction 82

Construction accountant accounted Account 82

Accounting Today

SEPTEMBER 20, 2024

The International Accounting Standards Board has begun a public consultation on proposed amendments to IFRS to account for investments in associates and joint ventures.

international accounting standards 81

international accounting standards accounting standards accounted Account 81

Going Concern

SEPTEMBER 20, 2024

Today’s quote of the day comes from a post on r/KPMG: Things feel worse than ever OP says: I’ve been working here a year in an office in New York and we had a call yesterday that went terribly. I believe the call was supposed to just be a tech training but it devolved into discussion over why this year was the way it was. The biggest offender was a partner who explained the new PTO change as “now we don’t have to pay people out when they leave which is just good business let’s be real” lik

public accounting 75

public accounting New York accounted Account 75

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Technology

Accounting Today

SEPTEMBER 20, 2024

The Treasury Department's Financial Crimes Enforcement Network has created an online toolkit to help small business owners comply with the new beneficial ownership reporting requirements.

accountant 75

accountant accounted Account 75

Withum

SEPTEMBER 20, 2024

I have a treasure trove and didn’t realize it! Earlier this week, I wanted to see a copy of the NY Times for the day I was born as I was looking for content for a speech I will be presenting. I contacted my local public library to see if they had access to past issues. I was told they do not, but the Rutgers Library has access, and the copy can be viewed digitally with a Rutgers ID.

New York 59

New York Tax 59

Accounting Today

SEPTEMBER 20, 2024

Trullion offers AI-powered cloud audit suite; april tax solution now covers all 50 states; Workday announces new initiatives, investments and a wellness solution; and other accounting technology news.

audit 75

audit Technology Tax Account 75

Menzies

SEPTEMBER 20, 2024

Menzies LLP - A leading chartered accountancy firm. This Autumn Budget will be announced against a backdrop of plateaued economic growth, diminishing living standards and above target inflation. With a recent change in Government promising to fill the tax gap, the Prime Minister has warned the budget will be “painful”. So, what might the new Labour Government announce as part of the “painful” budget, and will it strike the right balance between remaining optimistic while attempting to resolve th

tax services 59

tax services Tax income tax Agriculture 59

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.

payroll

Accounting Today

SEPTEMBER 20, 2024

NASBA selects executive vice president; KPMG releases 2024 CEO Outlook Survey; and more news from across the profession.

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72

Withum

SEPTEMBER 20, 2024

Dependent eligibility stands as a pivotal subcomponent within the broader eligibility process of any health plan. Given that dependents are typically not employees of the plan sponsor, meticulous gathering of key demographic and relevant information is paramount during the enrollment process. To strengthen the integrity of dependent eligibility, it is advisable for the plan administrator to procure supporting documentation before adding a dependent to the plan.

audit 59

audit 59

Accounting Today

SEPTEMBER 20, 2024

Prosecutors alleged Robert Brockman controlled Point, a Bermuda-based entity, and used it to engage in the largest tax-evasion scheme by an individual in U.S. history.

Tax 69

Tax 69

Withum

SEPTEMBER 20, 2024

Download a PDF of this case study. Executive Summary A telecommunications company client was grappling with a unique set of challenges. These included consolidating reporting, limited data visibility, non-standardized practices and manual and undocumented processes. These issues were causing delays in decision-making, time-consuming month-end processes, data entry errors and increased costs.

quickbooks 52

quickbooks Technology NetSuite Healthcare 52

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.

Finance

LSLCPAs

SEPTEMBER 20, 2024

What to Expect from October 1, 2024 and Beyond Updates to Notices of Funding Opportunities (NOFOs) Key Definition Updates Clarification on Fixed Amount Awards and Contracts Section 200.201 New Section 200.217: Whistleblower Protections Internal Controls and Cybersecurity Section 200.303 Clarification on Program Income Section 200.307 Equipment Threshold Increased Section 200.313 Supplies Threshold Increased Section 200.314.

cpas 52

cpas Government 52

ThomsonReuters

SEPTEMBER 20, 2024

Jump to ↓ The challenges of an outdated indirect tax workflow What are the benefits of implementing indirect tax software? Steps to making a compelling business case for tax software adoption How tax software aligns with digital transformation strategies Embracing technology for long-term success One of these solutions is indirect tax software , which can significantly elevate workflows by improving efficiency, reducing errors, and ensuring better compliance.

Technology 52

Technology Tax Gaming audit 52

Randal DeHart

SEPTEMBER 20, 2024

Your to-do list is often long and constantly growing longer when you're an entrepreneur. There are a lot of things you need to do, and it can feel like they're all urgent. In such cases, it's easy to push essential tasks to the side and focus on less vital activities, but that often means you miss deadlines, make mistakes, or always feel like you're trying to catch up.

Construction 52

Construction accountant accounted Account 52

CPA Practice

SEPTEMBER 20, 2024

CPA firms constantly seek ways to boost efficiency, enhance client satisfaction, and drive growth. While technology and strategies play crucial roles, one often overlooked element can be the key to unlocking your firm’s full potential: document management. Because it can be difficult to know if or when you need a new document management solution, IRIS wants to provide you with a checklist of ten red flags you can look for in your firm.

Rhode Island 52

Rhode Island West Virginia South Dakota North Dakota 52

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.

CPA

Canopy Accounting

SEPTEMBER 20, 2024

Task Templates are a Blueprint for Success Accounting efficiency and consistency are the keystones of client satisfaction and team productivity. Workflow automation, specifically through task templates, offers a robust solution to streamline processes across your team. Templates standardize repeatable processes and ensure that tasks are evenly distributed and managed, regardless of the team members involved.

Account 52

Account accountant accounted 52

Going Concern

SEPTEMBER 20, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

accounting and finance 105

accounting and finance auditor Technology Construction 105

ThomsonReuters

SEPTEMBER 20, 2024

Jump to ↓ The need for stronger penalties Key provisions of the Taxpayer Data Protection Act Protecting taxpayers’ privacy Ensuring stronger protections for taxpayer data The Taxpayer Data Protection Act , recently passed by the House of Representatives, represents a significant legislative effort to fortify the penalties associated with the unauthorized disclosure of such information.

New York 52

New York Tax Legal accounted 52

Accounting Today

SEPTEMBER 20, 2024

In his meeting, Vance touted Trump's pledges to lower taxes and argued for the Republican nominee's tariff policies.

Tax 69

Tax tax planning 69

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

Spend Management