Reckon
JUNE 25, 2023
Artificial intelligence, hereafter simply referred to as AI, has evolved momentously over the last decade. But just in the last 6 months, these leaps have been gargantuan. As the discipline relies on data processing, it’s not surprising accounting professionals have been particularly vocal about the advancement of AI (and machine learning) for many years.
CPA Practice
JUNE 21, 2023
Artificial intelligence has been the focus of significant discussion within many professions, among them accounting, tax and legal. How are these professionals facing this new technology with regards to risk and benefit? What are the perils? Thomson Reuters, a global content and technology company, has released new research on generative AI that gauged the sentiment of professionals in legal, tax, and accounting firms in the United States, United Kingdom, and Canada.
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Basis 365
JUNE 27, 2023
Running an eCommerce business comes with challenges, and accounting is a critical aspect that often poses difficulties. Accurate financial records, managing cash flow, ensuring compliance with financial reporting standards, and conducting financial analysis are all essential to running a successful eCommerce venture. However, these tasks can be complex and time-consuming, leading to potential errors and setbacks.
Ryan Lazanis
JUNE 19, 2023
Busy season accounting can in many ways seem unavoidable, but it can be manageable with the right approach. In this post, I’ll lay out 10 simple tips your firm can implement to keep yourself sane and to avoid you from working long hours during the busiest time of the year. Table of Contents Why Does Busy Season Accounting Happen? 10 Tips to Master the Busy Season 1.
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.
TaxConnex
JUNE 20, 2023
Almost five years ago, the Supreme Court’s Wayfair decision was heralded as a revenue gateway for almost all states to require remote sellers to collect and remit sales tax. Thresholds were established, filing forms and deadlines fixed and one by one states waited for the money to roll in (with Florida and Missouri among the latest of the 45, with Alaska perhaps soon to join them).
RogerRossmeisl
JUNE 19, 2023
In adversarial situations — such as divorces, contract breaches and shareholder disputes — you might need to hire an outside business valuator to evaluate complex financial matters. To get the most from these professionals, it’s important to understand the two key roles they can play in conflict resolution. Keeping these roles separate helps prevent valuators from being seen as “hired guns” by judges, juries, arbitrators and mediators.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Accounting Insight
JUNE 15, 2023
A new study has revealed that the UK accounting services sector has experienced consistent growth across the country, with increased demand for their services resulting in a 62% increase in new businesses in the sector since 2017. Tyl by NatWest , the payments partner supporting UK SMEs and micro businesses, has commissioned the Evolving Enterprise Index report , revealing the fastest growing and fastest emerging sectors in the UK.
CPA Practice
JUNE 28, 2023
By Emily Fish, director of product accounting at LeaseQuery Within the lease accounting standards, there are exceptions to help entities determine which leases are in scope and which are not. First and foremost, the lease accounting standards apply to all entities—there isn’t an exception for an entity or industry as a whole. Instead, exceptions are applied on a lease-by-lease basis depending on certain policy elections: ASC 842, IFRS 16, and GASB 87 all have exceptions for short-term and immate
Going Concern
JUNE 1, 2023
In the WaPo opinion pages yesterday one Duncan Mavin, who got his start in the 90s, says the best way to solve the audit industry’s many conflicts is to kill it altogether. He starts the piece summoning the ghost of Enron, as all writers do when discussing what happens when audit goes wrong. Bringing things back to this decade, he then talks about what’s going on at PwC Australia even though auditors weren’t the ones using confidential government data to bill clients for tax av
TaxConnex
JUNE 8, 2023
TaxConnex ® is excited to announce the launch of a new client portal, Client Connexion. Client Connexion will provide a streamlined client experience and enhanced data security through an intuitive user interface and encrypted portal. Clients will be given individual logins to provide their data, review their cash requests, pull reports, and tax returns, and view historical data, thus removing some of the manual processes clients and practitioners navigated through previously.
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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.
RogerRossmeisl
JUNE 19, 2023
Are you getting ready to retire? If so, you’ll soon experience changes in your lifestyle and income sources that may have numerous tax implications. Here’s a brief rundown of four tax and financial issues you may contend with when you retire: Taking required minimum distributions. These are the minimum amounts you must withdraw from your retirement accounts.
MyIRSRelief
JUNE 9, 2023
I have to start by stating that this “Final Notice notice of intent to levy and notice of your rights to a hearing, please respond immediately” is one of the most important and urgent IRS notice a taxpayer may receive, and although it is so important as it would lead to levying your bank accounts, paychecks etc., many taxpayers unintentionally ignore it.
Airbase
JUNE 30, 2023
Although personal travel is taking off this summer, business travel is having a more challenging time gaining altitude. Some industry analysts say that it could be well into 2025 before demand returns to pre-pandemic levels. Continued economic uncertainty has organizations carefully balancing budgets and benefits when it comes to corporate travel. But the cost of travel’s carbon footprint is an increasingly important factor in assessing corporate travel cost benefit.
CPA Practice
JUNE 6, 2023
The American Institute of Certified Public Accountants and CPA Practice Advisor have announced the recipients of the 12th annual ‘Most Powerful Women in Accounting’ awards, which recognize leaders for their significant contributions to the profession. The 2023 awards were presented at a ceremony at Dolby Live Stage at the Park MGM Casino during the AICPA ENGAGE conference in Las Vegas on June 6, 2023.
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.
Going Concern
JUNE 26, 2023
Stock photo of KPMG office in London. Look, the logo is the same ok. Rumors have been buzzing for a few weeks now that KPMG would be making some cuts, the most notable of these buzzes an extra buzzy post on Reddit suggesting an incoming RIF. This morning (Monday), all-hands calls started appearing in people’s calendars and, well, you know what happens after that.
TaxConnex
JUNE 29, 2023
What a major issue for your remote business these days. Constantly changing regulations. Tens of thousands of tax jurisdictions coast to coast, from the biggest states to the tiniest municipalities and everywhere in between. All wanting you to calculate, collect and remit the precise amount of sales tax if you have nexus there. Can all those tax authorities really all keep up with your obligations?
RogerRossmeisl
JUNE 19, 2023
Financial statements are central to understanding any business. A public company’s balance sheet, income statement and cash flow statement enable investors, lenders, the media and other stakeholders to value the company, forecast short- and long-term performance, and determine potential credit risk, among other purposes. To ensure analysis of a company is accurate and insightful, financial statements must be reliable.
MyIRSRelief
JUNE 1, 2023
Tax problems can be a nightmare for individuals and businesses. It can cause stress, anxiety, and even serious seizure issues if not handled correctly. Tax audits, unpaid back taxes, and unfiled tax returns are just some of the most common tax-related issues that can arise. While dealing with these problems on your own can be overwhelming, hiring a professional tax firm can provide you with a peace of mind and efficient resolution.
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.
BurklandAssociates
JUNE 27, 2023
Startups can face serious penalties for failing to comply with state sales tax laws. If you’ve fallen behind, help is available. The post Sales Tax Compliance: Steps for Startups appeared first on Burkland.
CPA Practice
JUNE 19, 2023
By Anthony Martin, Kiplinger Consumer News Service (TNS) The passing of a loved one is always a difficult burden to bear—physically, emotionally, mentally and monetarily. Most, if not all, of the time, death and passing come as a surprise, with family members left behind having to carry the burden of shouldering funeral expenses, which often come at a costly price, especially in the absence of burial insurance.
Going Concern
JUNE 16, 2023
Perhaps you’ve already seen this in 24 hours since it was released but let’s talk about it anyway because L-O-f **g-L. UK office furniture company Furniture at Work has published a hilarious anti-WFH piece called “From Claw Hands to Hunchbacks: How Working From Home Could Affect Our Bodies.” The article warns that if you continue to work from home you will end up looking like an enemy from Silent Hill by the time you are 70.
TaxConnex
JUNE 27, 2023
Staying on top of your sales tax obligations is crucial to maintaining compliance and avoiding costly penalties. However, navigating the complex world of sales tax filing is a lot for a business to manage without the right expertise. Fortunately, there are options outside of managing sales tax on your own, but it leaves you with a choice - sales tax software or service provider?
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.
RogerRossmeisl
JUNE 19, 2023
The IRS recently released guidance providing the 2024 inflation-adjusted amounts for Health Savings Accounts (HSAs). HSA fundamentals An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account beneficiary.” An HSA can only be established for the benefit of an “eligible individual” who is covered under a “high-deductible health plan.
MyIRSRelief
JUNE 23, 2023
Tax matters can be complex and daunting, and navigating the ever-changing tax landscape can be a challenge. In such a scenario, having a qualified tax professional on your side is invaluable. The Enrolled Agent (EA) – a tax specialist authorized by the U.S. Department of Treasury to represent taxpayers before the Internal Revenue Service (IRS).
SMBAccountant
JUNE 21, 2023
When it comes to financial statements, two key documents play a vital role in providing insights into a company's financial health: the income statement and the balance sheet. While both are important in understanding a company's financial position, they serve different purposes and provide distinct information. In this blog post, we will explore the differences between these two essential financial statements.
Acterys
JUNE 20, 2023
In the face of global economic turbulence causing widespread disruptions to supply chains, companies are diligently scrutinizing market dynamics to gain insights into consumer behavior and improve demand prediction. Amidst these uncertain times, in-depth demand planning analytics emerges as a crucial strategy for controlling operational expenditures, guaranteeing pleasing customer experiences, and securing long-term profitability.
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
BurklandAssociates
JUNE 19, 2023
Startups are quickly adapting to a new normal of constrained VC support and lower valuations. As part of this process, however, founders should also take care to adapt, or at Read More The post The Right Runway: Why Breakeven Will Be Among 2024’s Top Startup Metrics appeared first on Burkland.
TaxConnex
JUNE 22, 2023
It’s been five years since the U.S. Supreme Court’s Wayfair decision gave tax jurisdictions the power to require out-of-state companies collect and remit sales tax. Those governments jumped on the chance of such revenue and continue to do so. Some facets related to economic nexus are changing in certain states – sometimes for the better for remote sellers, sometimes for the worse.
RogerRossmeisl
JUNE 19, 2023
If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records months (or years) later. In doing so, they fail to meet the strict substantiation requirements set forth under tax law. Tax auditors are adept at rooting out inconsistencies, omissions and errors in taxpayers’ records, as illustrated by one recent U.S.
MyIRSRelief
JUNE 16, 2023
Welcome to our comprehensive FAQ guide on the IRS Fresh Start Program ! Dealing with tax issues can be overwhelming, but the Fresh Start Program is designed to provide taxpayers with a second chance. In this article, we’ll answer your most pressing questions about this initiative, explaining its purpose, eligibility requirements, benefits, and how to apply.
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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.
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