Accounting Insight

SEPTEMBER 9, 2024

Cameron Ford, UK general manager at Silverfin, thinks it will – provided firms include HR in their strategy. According to the ATT, the UK accounting industry will experience a shortage of 60,000 accountants by 2050, with areas like Manchester and Nottingham already feeling the pinch. From my experience including a stint at a big four firm, and providing accounting software to the sector, I can’t argue with the trajectory.

Technology 59

Technology Account accounted accountant 59

RogerRossmeisl

SEPTEMBER 9, 2024

Workers’ compensation insurance can provide medical care and financial assistance to employees who are injured or incapacitated at work. However, this important benefit is also subject to fraud perpetrated by dishonest workers. The Coalition Against Insurance Fraud says that 16% of workers’ comp claims are fraudulent, adding up to $9 billion in annual losses.

CPA 222

CPA 222

Accounting Today

SEPTEMBER 9, 2024

The annual list recognizes thought leaders, decision-makers, standard-setters and others who are shaping the future of the profession.

Account 128

Account accounted accountant cpas 128

RogerRossmeisl

SEPTEMBER 9, 2024

Let’s say you own real estate that has been held for more than one year and is sold for a taxable gain. Perhaps this gain comes from indirect ownership of real estate via a pass-through entity such as an LLC, partnership or S corporation. You may expect to pay Uncle Sam the standard 15% or 20% federal income tax rate that usually applies to long-term capital gains from assets held for more than one year.

Real Estate 210

Real Estate Tax income tax CPA 210

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 9, 2024

We have it within our power to change the pipeline issue. When will you start?

Account 127

Account accounted accountant 127

RogerRossmeisl

SEPTEMBER 9, 2024

Office supply scams are a tricky type of vendor fraud that generally use behavioral psychology and often depend on poor intraoffice communications for their “success.” Although they may not result in huge financial losses for defrauded companies, falsified invoices can add up to many thousands of dollars. Fortunately, you can help prevent them. How scams are perpetrated Office supply schemes typically begin as telemarketing fraud, with someone calling your business to obtain your street address

CPA 207

CPA 207

RogerRossmeisl

SEPTEMBER 9, 2024

Your businesses may have a choice between using the cash or accrual method of accounting for tax purposes. The cash method often provides significant tax benefits for those that qualify. However, some businesses may be better off using the accrual method. Therefore, you need to evaluate the tax accounting method for your business to ensure that it’s the most beneficial approach.

accrual accounting 200

accrual accounting Tax Account accounted 200

CPA Practice

SEPTEMBER 9, 2024

One of the best developments over the past few decades is the growing awareness and understanding of neurodiversity. Attention Deficit Hyperactivity Disorder (ADHD) is one such form of neurodiversity that affects many people in the world. While often associated with children (affects about 11.3% of children in the US from ages 5 – 17 years), ADHD persists into adulthood for many.

CPA 126

CPA bookkeeping accountant accounted 126

RogerRossmeisl

SEPTEMBER 9, 2024

Navigating the complexities of tax law can be difficult, especially when faced with an unexpected tax bill due to the errors of a spouse or ex-spouse. The reason for such a bill has to do with the concept of “joint and several” liability. When a married couple files a joint tax return, each spouse is liable for the full amount of tax on the couple’s combined income.

Tax 188

Tax tax return audit CPA 188

Accounting Today

SEPTEMBER 9, 2024

The Internal Revenue Service is more diverse than many workplaces, but more can be done, especially in the upper echelons, according to a new report.

Tax 122

Tax 122

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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.

Technology

RogerRossmeisl

SEPTEMBER 9, 2024

A recent U.S. Supreme Court ruling resolves a circuit split on a business valuation issue — and it could have a major impact on the value of many closely held companies going forward. In Connelly v. IRS (144 S. Ct. 1406, 2024), the Court held that corporate-owned life insurance (COLI) designed to fund the redemption of a deceased shareholder’s stock under a buy-sell agreement should be considered a corporate asset when calculating the value of the decedent’s shares for purposes of the federal es

CPA 188

CPA Tax 188

CPA Practice

SEPTEMBER 9, 2024

By Nikki Buckelew, Ph.D. Accounting professionals are often called upon by their clients with questions concerning residential changes. Those nearing retirement or on a fixed income often need to know what the financial and tax implications might be should they sell a longtime family residence, a second home or real estate included in their portfolio.

Real Estate 114

Real Estate cpas Sales Education 114

RogerRossmeisl

SEPTEMBER 9, 2024

Shareholders who own a minority interest in a business may not always agree with key decisions made by controlling shareholders. For instance, a minority shareholder might object to a stock-for-stock or “squeeze-out” merger. Or, if a proposed transaction will reduce a minority shareholder’s compensation or divert corporate assets, that individual may file an oppression suit.

CPA 184

CPA 184

Going Concern

SEPTEMBER 9, 2024

As seen on Australian Financial Review , a university is handing out a total of $10,000 ($6,659 in freedom bucks) in prize money to any students who can make a compelling case for accounting as a career in a TikTok or Instagram Reel. The pitch: View this post on Instagram A post shared by Paul Andon (@bized2052) The contest is open only to UNSW students over the age of 18 who reside in Australia so no one in our audience get any bright ideas.

Account 109

Account accounted accountant 109

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

RogerRossmeisl

SEPTEMBER 9, 2024

Many employees began working remotely during the pandemic and continue doing so today. Remote work has many advantages for employers and employees, and as a result, it’s here to stay in many industries. But it may also lead to some tax surprises, especially if workers cross state lines. Double taxation may occur It’s not unusual for employees to work remotely for an employer in another state.

Tax 177

Tax CPA 177

CPA Practice

SEPTEMBER 9, 2024

Avalara, Inc. , a provider of tax compliance automation software for businesses of all sizes, has announced Kevin Sellers has been named Executive Vice President, Chief Marketing Officer. Sellers brings more than 25 years of broad-based global marketing expertise to Avalara with a proven track record of driving growth and relevance for world-class brands and moving buyers to action.

Technology 102

Technology Finance Tax 102

RogerRossmeisl

SEPTEMBER 9, 2024

Partnerships are often used for business and investment activities. So are multi-member LLCs that are treated as partnerships for tax purposes. A major reason is that these entities offer federal income tax advantages, the most important of which is pass-through taxation. They also must follow some special and sometimes complicated federal income tax rules.

income tax 170

income tax Government CPA Tax 170

Accounting Today

SEPTEMBER 9, 2024

The Eleventh Circuit splits with the First Circuit and reduces an FBAR penalty under the Constitution's Excessive Fines Clause.

Tax 99

Tax 99

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

RogerRossmeisl

SEPTEMBER 9, 2024

Having a high income may mean you owe two extra taxes: the 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Let’s take a look at these taxes and what they could mean for you. 1. The NIIT In addition to income tax, this tax applies on your net investment income. The NIIT only affects taxpayers with adjusted gross incomes (AGIs) exceeding $250,000 for joint filers, $200,000 for single taxpayers and heads of household, and $125,000 for mar

income tax 156

income tax Tax CPA 156

Canopy Accounting

SEPTEMBER 9, 2024

Participants: Brittany Malidore, Co-Founder, Ledgerly Consulting Dr. Jackie Meyer, CPA, CCTA, President, TaxPlanIQ Matthew McComb, CPA, President, McComb & Company Are you ready for an electrifying discussion that will challenge the very foundations of the accounting world? Join us for our upcoming webinar, where two expert panelists will go head-to-head in a debate, tackling the hottest and most controversial topics in accounting today.

Account 98

Account accounted accountant CPA 98

RogerRossmeisl

SEPTEMBER 9, 2024

With Labor Day in the rearview mirror, it’s time to take proactive steps that may help lower your small business’s taxes for this year and next. The strategy of deferring income and accelerating deductions to minimize taxes can be effective for most businesses, as is the approach of bunching deductible expenses into this year or next to maximize their tax value.

tax planning 148

tax planning Tax CPA business tax 148

CPA Practice

SEPTEMBER 9, 2024

The deadline for taxpayers to submit their third quarter estimated tax payment is one week from today. However, individuals and businesses affected by disasters in 17 states, Puerto Rico, and the Virgin Islands may automatically qualify for a delayed tax-payment deadline, the IRS said last week. Gig workers, sole proprietors, retirees, partners, and S corporation shareholders generally should make estimated tax payments if they expect to have a tax liability of $1,000 or more when they file thei

West Virginia 95

West Virginia South Dakota South Carolina Tax 95

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

RogerRossmeisl

SEPTEMBER 9, 2024

Your business probably has a disaster plan — or a set of procedures for dealing with a fire, natural disaster, terrorist attack or other emergency that could disrupt operations and threaten lives. Although a fraud contingency plan probably isn’t as critical, it’s still important for most companies to have one. Here’s how to draft and put a fraud contingency plan in place.

CPA 141

CPA 141

Accounting Today

SEPTEMBER 9, 2024

Michael Bannon explains which accounting firms might want to look into employee stock ownership plans — and why,

accounting firms 83

accounting firms Account accountant accounted 83

RogerRossmeisl

SEPTEMBER 9, 2024

Believe it or not, there are ways to collect tax-free income and gains. Here are some of the best opportunities to put money in your pocket without current federal income tax implications: Roth IRAs offer tax-free income accumulation and withdrawals. Unlike withdrawals from traditional IRAs, qualified Roth IRA withdrawals are free from federal income tax.

Tax 140

Tax income tax CPA Sales 140

Accounting Today

SEPTEMBER 9, 2024

The SEC approved the PCAOB's QC 1000, which will require firms to identify risks to their practice and design quality control systems that can safeguard against those risks.

accounting standards 81

accounting standards audit accountant accounted 81

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

RogerRossmeisl

SEPTEMBER 9, 2024

Choosing the right business entity is a key decision for any business. The entity you pick can affect your tax bill, your personal liability and other issues. For many businesses, a limited liability company (LLC) is an attractive choice. It can be structured to resemble a corporation for owner liability purposes and a partnership for federal tax purposes.

CPA 131

CPA Tax accountant accounted 131

Accounting Today

SEPTEMBER 9, 2024

The handoff of a company carries important tax implications alongside a plethora of succession challenges. Here's what financial advisors need to talk about with clients.

Tax 80

Tax 80

CPA Practice

SEPTEMBER 9, 2024

Forvis Mazars, LLP, one of the largest public accounting and consulting firms in the United States, is bolstering the services it offers clients in the construction industry through the launch of its Construction Technology Services consulting practice. The practice is designed to help construction companies move forward with digital-first strategies to streamline financial reporting and project operations, enhance communication and collaboration, and more easily access real-time data to make in

Construction 64

Construction Technology North Carolina Real Estate 64

Menzies

SEPTEMBER 9, 2024

Menzies LLP - A leading chartered accountancy firm. Retiring and winding up a company is a significant transition that requires a lot of careful planning to ensure a smooth process. By addressing the key areas to manage, you can mitigate potential risks and costs. Here are our top tips to guide you through a solvent winding-up process. Shareholders Discussing strategy with shareholders, particularly if you’re retiring or the Company has served its purpose, is important.

chartered accountant 59

chartered accountant Tax accounting firms accountant 59

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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.