Wed.Dec 04, 2024

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Year-End Tax Strategies for Businesses

Withum

The corporate tax rate is currently a flat 21% rate. There is also a 15% corporate alternative minimum tax (CAMT) based on book income for companies with average annual adjusted financial statement income exceeding $1 billion. Limits on Deduction of Business Interest Every business, regardless of its form, is generally subject to a disallowance of a deduction for net interest expense in excess of 30% of its adjusted taxable income (ATI).

Tax 105
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The top people in public accounting — 2024

Accounting Today

The most influential people in the field, as chosen by their peers.

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Budgeting for Startups: Investor-Ready Financial Planning

inDinero Tax Tips

Founders usually know how much runway they have, but may not be budgeting for their startup with an explicit system. While this can work for a time, investors want to see clear, data-backed strategies for how their money will be or is being used to deliver returns. This guide will walk you through the essential steps to develop a budget that supports growth and helps make a strong business case for prospective investors.

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Investors urge companies to adopt AI, upskill workers

Accounting Today

A recent PwC survey has found investors are bullish on AI, with many believing it will unlock new growth and profits.

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Building a Business Case for Finance Automation

Speaker: Danny Gassaway and Wayne Richards

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Climate reporting legislation: What it means for small businesses and accountants

Xero

From January 2025, new climate reporting legislation will be introduced. It will require big businesses in Australia to track their carbon emissions and include the results in sustainability reports , which they’ll need to submit alongside their other annual reporting obligations. While this law directly targets businesses with more than 100 employees, the impact will inevitably trickle down to their suppliers, who may need to provide emissions data to them.

Account 74
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'Bitcoin Jesus' lawyers say his tax case violates Constitution

Accounting Today

Among other things, Roger Ver is charged with filing a false 'exit tax' return after he renounced his U.S.

Tax 98

More Trending

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Influencing the people around you

Accounting Today

Barry Melancon has done a lot for accountants — but as it turns out, accountants have done a lot for him, too.

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How to efficiently file a business tax return: A workflow guide for accounting firms

ThomsonReuters

Filing business tax returns is no doubt an intricate process, but with the right workflow, accounting firms can streamline the process, reduce errors, and ensure compliance. By implementing a digital tax workflow that automates repetitive tasks and integrates cloud-based collaboration tools, accounting firms and tax preparers can streamline the entire business tax return process from start to finish.

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Infinite Ties launches online CAS community

Accounting Today

The website was created to foster collaboration and share best practices and resources around client accounting services.

Account 64
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Bianca Carey on Empowering Growth Through Technology

Canopy Accounting

In this episode of Canopy Practice Success , Bianca Carey shares her journey of becoming a trailblazing leader in the accounting industry. Starting as a teenager learning the basics, she climbed the ranks to serve as a city CFO by 25, later transitioning into private practice and growing her firm to serve over 1,500 clients.

Account 59
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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.

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PCAOB sanctions firm for deceiving inspection staff

Accounting Today

The Public Company Accounting Oversight Board sanctioned Raines & Fischer and three of its partners for attempting to deceive inspection staff and other violations.

Account 64
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When to Use Client Requests Versus Client Email Templates in Canopy

Canopy Accounting

Streamlining your workflow isn’t just about saving time—it’s about eliminating the frustration of repetitive, labor-intensive tasks that can weigh us down as accountants. But knowing when to use each tool can be the difference between smooth operations and a tangled mess. Liz Scott , an accounting technology trainer, breaks down the differences between Client Requests and Client Email Templates in Canopy and when to use each for maximum efficiency.

Account 52
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M&A roundup: The year-end rush begins

Accounting Today

Citrin Cooperman expands in Rhode Island, Cherry Bekaert in the Washington, D.C. area, LBMC in Tennessee, Dean Dorton in Florida, and more.

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BerryDunn Joins Forces With Burzenski & Co. in Connecticut

CPA Practice

Top 50 accounting firm BerryDunn has merged with Connecticut-based accounting, tax, and advisory firm Burzenski & Co., effective Dec. 1. According to the deal, Burzenski & Co. will assume the BerryDunn name and continue to operate from its office in East Haven, CT. Established in 1983, Burzenski is well-known for its work with veterinary practices and the construction industry.

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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.

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Book guides CPAs on adoption of wealth biz into their practices

Accounting Today

Financial planner Rory Henry and contributors compile a guide to the skills, services and larger changes needed at CPA firms to branch into the field.

cpas 59
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How to efficiently file individual income tax returns: A workflow guide for accounting firms

ThomsonReuters

Filing individual income tax returns can be a complex process, but with the right workflow, professional tax preparers and accounting firms can streamline the experience for both clients and staff. Harnessing technology for individual income tax return filing can transform the efficiency of accounting firms. By adopting a digital tax workflow , automating repetitive tasks, leveraging cloud-based solutions, integrating e-filing and electronic signatures, and using advanced review tools, firms can

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Cherry Bekaert Acquires DeBlanc, Murphy & Murphy in Maryland

CPA Practice

Top 25 accounting firm Cherry Bekaert has acquired DeBlanc, Murphy & Murphy, a Waldorf, MD-based CPA firm specializing in accounting, tax, and advisory services. Financial terms of the deal weren’t disclosed. The combined team will operate under the Cherry Bekaert brand. As is typical for firms that operate in an alternative practice structure, the transaction consists of two acquisitions: Cherry Bekaert Advisors LLC acquired DeBlanc, Murphy & Murphy’s nonattest assets, while Cherry Beka

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New Ignition President Announces Product Innovations

Insightful Accountant

Greg Strickland, Ignition's new 'Global President' has announced new product innovations on the horizon for the company's 7,500 customers.

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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.

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Intuit and Adyen Collaborate on Business Payment Automation

CPA Practice

Intuit Inc., the financial technology platform behind TurboTax, Credit Karma, QuickBooks, and Mailchimp, is collaborating with fintech firm Adyen to help small and mid-market businesses more easily manage electronic payments. The two companies will initially integrate Adyen’s embedded payment services into Intuit’s business platform through QuickBooks Online which enables approximately 2.9 million invoices to be sent monthly in the UK.

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Very Special Edition of QB Talks on December 11, 2024

Insightful Accountant

Christine Gervais, the Editor of Insightful Accountant's sister publication 'Tax Practice News' will guide you through modern tax workflows for QuickBooks to streamline your year-end processes.

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Burnout

Ryan Lazanis

Burnout is a common challenge for firm owners. Discover my insights on burnout, plus practical tips to prevent and overcome it. The post Burnout appeared first on Future Firm.

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Citrin Cooperman Adds Andsager, Bartlett & Pieroni in Rhode Island

CPA Practice

Top 20 accounting firm Citrin Cooperman has made another acquisition—its ninth in 2024—this time picking up Andsager, Bartlett & Pieroni (ABP), a Providence, RI-based boutique tax firm specializing in high-end tax services for businesses and individuals. Financial terms of the deal weren’t disclosed. ABP joins Citrin Cooperman with three partners and 12 professionals, expanding the New York City-based firm’s established presence in Providence and greater New England.

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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.

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LeaseCrunch Expands Offerings with Merger of Finagraph, Enhancing Financial Intelligence for CPA Firms

Insightful Accountant

LeaseCrunch LLC today announces its merger with Finagraph, a software provider specializing in real-time data collection and analysis through integration with industry-leading ERP and accounting systems.

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LeaseCrunch Expands Offerings By Merging With Finagraph

CPA Practice

LeaseCrunch LLC , a leading lease accounting software company with over 650 CPA firm customers, has merged with Finagraph, a software provider specializing in real-time data collection and analysis through integration with industry-leading ERP and accounting systems. This merger expands the combined company’s reach to a global CPA firm customer base of over 750, furthering LeaseCrunch’s mission to simplify complexity and enhance client collaboration for CPA firms.

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TCE and VITA grants awarded for next year

Accounting Today

The tax service is giving out $53 million to organizations helping the elderly and underserved communities with tax preparation.

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BeachFleischman Adds Las Vegas-Based Indiva Advisors

CPA Practice

Top 200 accounting firm BeachFleischman has entered the Las Vegas market and expanded its cannabis practice by acquiring Indiva Advisors, a CPA firm that provides specialized accounting, advisory, and tax expertise to businesses in the cannabis industry, effective Nov. 1. Financial terms of the deal weren’t disclosed. As part of the deal, Indiva will practice as BeachFleischman PLLC and continue to operate from its existing Las Vegas office.

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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

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LeaseCrunch merges with data analysis firm

Accounting Today

LeaseCrunch announced a merger with data collection and analysis software provider Finagraph.

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LGA and McGaunn & Schwadron CPAs Merge

CPA Practice

Top 200 accounting firm LGA has combined with McGaunn & Schwadron CPAs, a Needham, MA-based accounting firm known for providing services to veterinary and dental professionals. In a media release, LGA says the merger broadens its industry expertise, allowing the firm to deliver more solutions to healthcare professionals. Founded by Mark McGaunn, McGaunn & Schwadron is a veterinary and dental practice accounting firm, providing guidance in tax planning, financial management, valuations, a

cpas 52
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Investigating Cases With Large Volumes of Financial Data

FraudFiles

Many of the cases I work currently focus on the tracing of funds through multiple bank, brokerage, and credit card accounts. I am typically working with tens of thousands of transactions at a time, so the sheer volume of the data could be overwhelming. I use a proprietary system that allows me to capture, manage, [.

Account 52
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Barsz Gowie Amon & Fultz Merges in William E. Howe & Co.

CPA Practice

Two accounting firms in Media, PA, combined on Dec. 2: Barsz Gowie Amon & Fultz (BGA&F) and William E. Howe & Co. The office of William E. Howe & Co. will become a BGA&F location, operating under the Barsz Gowie Amon & Fultz name until the lease expires in September 2025. At that time, the office will consolidate with BGA&F’s offices, according to a media release.

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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.