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When launching an e-commerce business, there are many factors to consider, such as product development and marketing strategies. One crucial aspect that often demands early attention is sales tax. Addressing sales tax obligations at the right time is essential for maintaining compliance and avoiding potential pitfalls. 6 Tax Compliance Considerations At the Outset of Your Business: Startups should consider sales tax requirements from the inception of their e-commerce business.
By Arianna Campbell. With another busy season in the rearview mirror, many firms are looking ahead to next year. What went well this busy season? What could use some improvement? Now is the time to make changes to your technology and processes that will set you up for success in 2025 and beyond. To help you identify these opportunities, we’ve identified five trends for process improvement that leaders in the accounting profession should be aware of to ensure their firms remain at the forefront.
The Internal Revenue Service is targeting the use of basis shifting between related parties as a way for partnerships to avoid paying taxes, setting up a new unit within the Office of Chief Counsel to develop guidance aimed at closing tax loopholes.
By Melissa Angell, Inc. (TNS) Small businesses still vying for pandemic-era employee retention credits they haven’t received could have another course of action to nab their money sooner. A provision in the tax code allows taxpayers who have filed refund claims to sue the Internal Revenue Service if they have not heard from the agency within six months, or their claim was denied and they believe it to be legitimate.
Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.
The National Pipeline Advisory Group's recommendations cover a wide range of ways to attract more people to the profession, and Jennifer Wilson walks us through what everyone can do to help.
As we know, it’s been a rough year and a half or so for consulting. Things are so bad in the UK firms have been shedding staff left and right while Australia has been suffering with the one-two punch of slowed client demand and the continued fallout of the PwC tax scandal leading to lost clients, reputational damage, and continued tongue-lashings from parliament.
This guest blog was written by the team behind transport management app MyTrucking. The powerhouse of regional Australia sits in part with its farming, mining and construction industries. The thousands of communities and family-owned small businesses in these sectors around the country help keep the wheels of Australia turning. One such family-owned business has been on the tools since 2009.
Check out this list of the 18 best accounting conferences to help you level up your skills and stay on top of the major accounting trends. The post The 18 Best Accounting Conferences to Attend appeared first on Future Firm.
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
During the annual Scaling New Heights conference in Orlando, Joe Woodard warned that AI means accountants must go beyond advisory and analysis to remain relevant.
The Treasury Department and the IRS said on June 17 that a new initiative to shut down a major tax loophole used by wealthy individuals and large partnerships could raise more than $50 billion in revenue over 10 years. Treasury and the IRS issued three pieces of guidance on Monday focused on partnerships following discoveries by IRS audit teams. The IRS said it currently has tens of billions of dollars of deductions claimed in these transactions under audit.
The IRS Careers website has been updated and is now live, as the agency tries to fill job openings as part of an ongoing recruitment effort enabled by Inflation Reduction Act funding. Part of that effort was modernizing its primary vehicle to publicize job opportunities and hire new talent. The IRS Careers website now provides a comprehensive landing spot for candidates to find everything they need to pursue a career at the agency, including: Upcoming hiring events; Key job descriptions; Overvie
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
By Jey Purushotham. Accounting firms are the keepers of tremendous amounts of sensitive client and engagement data. Most firms are exploring the power of leveraging that data with Generative AI, which puts confidential information at risk of being shared with users who are not permissioned to access it – the “oversharing” problem. For some time the most widely used iteration of natural language processing was ChatGPT, which harnessed publicly available data to generate answers to user prompts.
Amid a cost-of-living crisis, high inflation and global political unrest, U.S. employees are turning to their employers for a sense of security. A new survey by global advisory, broking and solutions company WTW found a majority (72%) of employees are choosing to stay with their employers, ending a period of intense job turnover and attraction and retention challenges for employers.
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.
Anders has been named to the St. Louis Business Journal’s Fast 50 list for 2024 for the first time. The list recognizes the fastest-growing companies in our region, ranked on percentage of revenue growth over the past two years. Honorees were recognized during the St. Louis Business Journal’s Fast 50 event on June 13. Anders ranked 39 in the firm’s first showing on the list and is the only accounting firm included in the ranking About Anders For more than 55 years, Anders has delivered full-serv
The growing fixed-income products carry some risks, but their returns this year are attracting more financial advisors and their clients, according to experts.
Digital marketing agencies can refer to different kinds of businesses, including design-dev agencies, SEO-PPC agencies, as well as product-only. Usually founded by people with creative and technical expertise, these marketing businesses often grow out of a partnership, with one business owner leading the development efforts and the other in charge of sales.
Held by Authority for Advance Ruling, TamilNadu In the matter of M/s Suswani Foundations Private Limited (AAR No. 123/AAR/202) The Applicant is constructing Industrial buildings which are to be rented out as godowns for commercial purposes. The Applicant is seeking advance ruling on the question that whether the Applicant is entitled to claim ITC on inward supply of goods or services used for construction of such godowns.
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?
In this Webinar session, we dive into the crucial role of delegation in enhancing efficiency and productivity within your firm. Watch this replay of June's Practice Management Talks!
Held by Authority for Advance Ruling, TamilNadu In the matter of M/s Suswani Foundations Private Limited (AAR No. 123/AAR/202) The Applicant is constructing Industrial buildings which are to be rented out as godowns for commercial purposes. The Applicant is seeking advance ruling on the question that whether the Applicant is entitled to claim ITC on inward supply of goods or services used for construction of such godowns.
TaxDome , a practice management solution for tax professionals, bookkeepers, and accountants, has launched its new AI-powered reporting feature. This innovative addition is designed to provide firms with advanced analytics, actionable insights, and customizable reports to enhance efficiency and profitability. Firms can easily identify areas to streamline workflows and address pressing needs, thereby transforming raw data into visual knowledge with ease.
Held by Authority for Advance Ruling, TamilNadu In the matter of M/s Suswani Foundations Private Limited (AAR No. 123/AAR/202) The Applicant is constructing Industrial buildings which are to be rented out as godowns for commercial purposes. The Applicant is seeking advance ruling on the question that whether the Applicant is entitled to claim ITC on inward supply of goods or services used for construction of such godowns.
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.
What do you get when you combine California accounting firms Torchon and Associates and Dennis Duncan and Covington? You get Dennis Duncan and Torchon LLP. The merger became effective, believe it or not, on Valentine’s Day, the new firm announced on June 14. The union combines Calabasas-based Torchon and Associates’ deep local expertise and personalized service approach with Los Angeles-based Dennis Duncan and Covington’s broad spectrum of resources and capabilities in accounting and financial c
In commercial litigation, many cases require some kind of expert. Whether it is a financial expert, an engineering expert, a fraud expert, a valuation expert, or some other type of expert witness, the process of selecting one cannot be taking lightly. The effectiveness of your expert witness could win or lose a case for you, [.
WAKE UP! It’s Monday. For some news that’s three or more days old, check out Friday’s Footnotes and be sure to swing by every Friday at 5pm Eastern for a fresh batch of headlines. Friday Footnotes: PwC Leader Called Out for Twitter Tantrums; Why Quiet Layoffs Are a Bad Idea; Remote Work Advice for Firms | 6.14.24 And now, news that’s news as of today.
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