Fri.Dec 15, 2023

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Top 10 Tax Planning Concepts for W-2 Earners

MyIRSRelief

Top 10 Tax Planning Concepts for W-2 Earners As a W-2 earner, understanding tax planning concepts can help you maximize your tax savings and ensure you’re making the most of your income. Here are the top ten tax planning concepts you should know. 1. Understanding Your W-2 Form Your W-2 form is a crucial document that outlines your income and the taxes withheld from your paycheck.

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Mileage rates rise for 2024

Accounting Today

The new deduction rates apply to electric and hybrid vehicles, as well.

Tax 128
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Dealership End-of-Year Tune-Up

Withum

It is no secret that the pandemic forced dealerships to pivot. Conventional operating procedures, strategies, inventory management, staffing, and numerous other standard practices had to change to combat reduced inventory, staffing shortages, and increased online competition. It is only recently that we are seeing a shift back to our former standards.

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Avalara marks 250th anniversary of Boston Tea Party

Accounting Today

Tea merchants in both the U.S. and the U.K. continue to face tax problems, while stopping short of dumping their tea into Boston Harbor.

Tax 126
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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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The Top 5 Small Business Accounting Systems in 2024

CPA Practice

Ask dozens of accounting professionals and most will agree that using accounting software is an important part of managing a business. Accounting software also simplifies tax preparation by identifying taxable income and deductions with ease. Not all small businesses are on board yet. While Codat’s Global Accounting Guide estimates that 64% of small businesses in the U.S. currently use accounting software in their business, leaving 35% of small businesses still using a manual accounting system

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IRS offers more guidance on corporate AMT

Accounting Today

The Treasury is providing additional guidance on the corporate alternative minimum tax for billion-dollar companies.

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More Trending

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How the AI boom is transforming accounting

Accounting Today

The IRS rolling out chatbots to help individuals with basic tax matters and key presentations on AI innovation at accounting events are among the recent developments.

Account 116
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IRS Announces 2024 Mileage Rates: 1.5 Cent Spike Ushers in 67 Cents per Mile

Insightful Accountant

The IRS has released the 2024 standard mileage rates for business, medical, and charitable purposes. Taxpayers can choose to use these rates or calculate actual costs.

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FinCEN ramps up guidance as beneficial ownership requirements fast approach

Accounting Today

Beginning Jan. 1, 2024, tens of millions of small businesses must comply with the Corporate Transparency Act by filing beneficial ownership information reports.

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Coaching Work-Life Balance from a Management Level | Beyond the Books Podcast by AccountingDepartment.com

AccountingDepartment

We are thrilled to announce that Episode 8 of our podcast, Beyond the Books , is now live and ready for your listening pleasure.

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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.

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On the move: Withum opens new San Francisco office

Accounting Today

NATP appoints 2024 board of directors; MaloneBailey launches corporate valuation consulting practice; and more news from across the profession.

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Managing Work-Life Balance As A Construction Business Owner

Randal DeHart

Wellness is an important aspect of life for everyone, especially construction contractors like you. Given the physically demanding nature of the work, contractors must prioritize their physical and mental health. Proper nutrition, exercise, and adequate rest are all necessary for maintaining a healthy body and mind. Additionally, taking breaks and managing stress can help prevent burnout and promote well-being.

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$35M Avantax golden parachutes highlight role of compensation in M&A

Accounting Today

After Cetera's parent closed the acquisition of the tax-focused wealth management firm last month, departing executives received significant bonuses.

Tax 92
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2024 Tax Refund Dates – How to Estimate When to Expect a Refund

CPA Practice

It’s almost January, which means the 2024 income tax filing season is coming soon. Although last minute tax law changes can have an impact, the IRS usually starts accepting e-filed income tax returns in the last week of January each year. The deadline to file returns in 2024 is April 15 (this sometimes varies based on weekends or state holidays). If you’re wondering how long it may take to get your refund once you do file, you’re not the only one looking for the answer.

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The Growth Architect: How Financial Leaders are Unlocking Potential

Speaker: Ashley Harlan, MBA

What if your role as a fractional CFO went beyond operational support to actively shaping the future of your clients’ businesses? 💼 ✨ In this session, discover how fractional finance professionals can position themselves as architects of growth, guiding their clients toward sustainable success and preparing them for full-time financial leadership.

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Tech News: H&R Block offers AI tax assistance

Accounting Today

Plus, StanfordTax adds AI to client organizers; Bill Spend & Expense adds features; and other news and information from the accounting technology world.

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Bill Would Give Tax Credits for Rare Earth Magnets Made in the U.S.

CPA Practice

By Jessica Hill, Las Vegas Review-Journal (TNS) Sen. Catherine Cortez Masto, D-Nev., reintroduced a bill Thursday aiming to build a domestic supply chain for rare earth magnets. The Rare Earth Magnet Production Tax Credit Act, introduced alongside Sen. Markwayne Mullin, R-Okla., would provide a $20 per kilogram production tax credit for rare earth magnets made in the United States.

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Toxicity over DEI plagues academic job forums in accounting

Accounting Today

Young people with accounting doctoral degrees are encountering discrimination during job searches and discussions on online forums, according to a new study.

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The PCAOB Sucks, the PCAOB Is Doing Great

Going Concern

The PCAOB recently approved a $384.7 million budget for 2024 , an 11 percent increase over 2023, and just needed to get approval from the SEC. It was assumed this wouldn’t be a problem, though it was equally assumed that resident contrarian Hester Peirce would have some s**t to say about it. And she did. SEC Chair Gary Gensler said in his Wednesday statement he supports this $385 million budget and its accompanying “modest two percent increase in headcount” because of “th

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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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Billionaire Jimmy Haslam is being investigated over Pilot payments, lawyer says

Accounting Today

Haslam contends Pilot Travel executives installed by Warren Buffett have changed quarterly-earning accounting methods in a way that will cut the value of his holdings by $1.2 billion if the Tennessee-based billionaire elects to sell Buffett his remaining stake.

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Weak Christmas sales leading to concern for UK retailers

Menzies

Menzies LLP - A leading chartered accountancy firm. Comments from Freddy Khalastchi, Business Recovery Partner at Menzies LLP Sluggish consumer spending and mounting cost pressures are placing immense pressure on retailers, causing cashflow difficulties and an alarming surge in insolvency cases. Taking a proactive approach to financial management will be crucial to survival through this period and into the new year.

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Ex-GE Angola executive charged with fraud over forgery

Accounting Today

GE legal and accounting teams were investigating how accurately the turbine sales were reflected on the company's books.

Legal 75
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Podcast: Why is ESG so important for attracting and retaining future talent?

Menzies

Menzies LLP - A leading chartered accountancy firm. ESG at a glance ESG – a term heard almost everywhere nowadays, but what is it? ESG stands for Environmental, Social and Governance. Environmental being a businesses impact on nature and the planet. Social being a businesses impact on people within and outside the business and the final piece is Ethics and Corporate Governance.

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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Tax Fraud Blotter: Document mismanagement

Accounting Today

Under Development; lack of security; CI at work; and other highlights of recent tax cases.

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The customer is king but are they delivering value?

Menzies

Menzies LLP - A leading chartered accountancy firm. Chris Maloney – Advisory Partner A business must have customers to succeed, right? Well yes, of course, but business owners should be asking whether these are the right type of customer. This is a question that should certainly go beyond the obvious “do they pay on time?” and the focus should be on further criteria in order to define ‘what makes an ideal customer’ in order to ultimately drive business value.

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Revitalize the CPA firm business model

Accounting Today

Have you ever looked at the websites of the top five CPA firms in your market and observed what similar services they provide?

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How Reconciled Grew Advisory Business by 25%

CPA Practice

Discover how Clockwork helped Reconciled, a full-service virtual bookkeeping firm, expand its advisory services and boost efficiency without hiring more staff. Learn about Reconciled’s journey from a traditional bookkeeping firm to a forward-thinking leader in advisory services. Explore the challenges Reconciled faced in expanding its advisory services and how they overcame them.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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2023 Not-for-Profit Speaker Series: Nonprofit Tax Update

Cherry Bekaert

During this session, we will bring you up-to-date on the latest developments affecting nonprofit organizations from a tax perspective. In particular, we’ll highlight guidance received in connection with provisions enacted as part of recent legislation. Topics will also include: other guidance issued by the IRS and updates to the IRS’ strategic plans.

Tax 52
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Withum Unveils Earth-Inspired Modern Workplace with Open House Event in San Francisco

Withum

On November 29, Withum hosted team members, clients and business partners from the San Francisco community to unveil its redesigned office space. The San Francisco office is located at 601 California Street, just outside of Union Square. Situated in the heart of the Bay Area financial district, the office features stunning views of Coit Tower and the Bay.

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Doing Your Part to Improve Accounting

Canopy Accounting

The world of accounting has come a long way from the days of dusty ledgers and manual calculations. Evolving technologies and new digital tools — including artificial intelligence, data analytics, and forecasting tools — have changed the way accountants work. And to meet today’s client expectations, it’s essential for companies to keep up with the times.

Account 52
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Annual Accounting Standards Update 2023

Cherry Bekaert

Gain insights on the new standards for 2023 reporting. During this webinar we will discuss the newly effective accounting standards for the December 31, 2023, reporting period as well as the accounting standards that were issued in 2023. After attending this webinar, you will be able to identify and describe the impact the new standards will have on your organization and prepare for adoption.

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O'Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng