Accounting Today
SEPTEMBER 25, 2024
Amid widespread adoption of traditional and generative forms of artificial intelligence, the looming question on the minds of many accountants is what diving deeper could mean.
CPA Practice
SEPTEMBER 5, 2024
More than two-thirds (76%) of financial services operations leaders in the U.S. believe that using AI would enable them to make faster, more effective decisions, but 62% lack the data management capabilities and data environment to capitalize on the technology’s potential. That is according to a new international study commissioned by ActiveOps , a leading provider of AI-powered decision intelligence for service operations.
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Accounting Today
SEPTEMBER 30, 2024
We asked a panel of accounting technology thought leaders about their favorite applications, and here is what they said.
Going Concern
SEPTEMBER 26, 2024
This afternoon NASBA held a webinar on how to choose a CPA exam discipline and in case you couldn’t or refused to attend, I’ll have more on that later. For now, I wanted to share a tip from presenter Joe Maslott, PwC alum and Associate Director at the AICPA. TLDR: Don’t choose Tax Compliance and Planning (TCP) as your discipline just because of its high pass rate.
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.
AccountingDepartment
SEPTEMBER 17, 2024
When you have a small or mid-size business, one of the issues you can run into is not having all the departments a larger company would have. In other words, you might not have dedicated employees for HR, accounting, and other areas. Fortunately, there are ways to outsource a number of services, including client accounting services. This helps keep your company growing and succeeding, without the need to bring on more employees or overwork yourself to get everything done.
Ryan Lazanis
SEPTEMBER 12, 2024
Do you know how to price your bookkeeping services? This guide helps you find the sweet spot to grow your business and please clients. The post How Much To Charge For Bookkeeping Services (Complete Guide) appeared first on Future Firm.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
RogerRossmeisl
SEPTEMBER 29, 2024
When drafting partnership and LLC operating agreements, various tax issues must be addressed. This is also true of multi-member LLCs that are treated as partnerships for tax purposes. Here are some critical issues to include in your agreement so your business remains in compliance with federal tax law. Identify and describe guaranteed payments to partners For income tax purposes, a guaranteed payment is one made by a partnership that’s: 1) to the partner acting in the capacity of a partner, 2) i
Going Concern
SEPTEMBER 21, 2024
As you may have seen, RSM US laid off a bunch of people yesterday — at least 460 to our knowledge. Accounting Today reported 5% of consulting was slashed, that seems more than the figure of 260 people we were told by a tipster (with another 200+ in audit). Safe to say times are tough. But are they? Are they really? Sure, demand for consulting services is down as businesses clench their buttholes in anticipation of a significant economic downturn — sphincters have been getting a worko
GrowthForceBlog
SEPTEMBER 18, 2024
7 min read September 18th, 2024 The Association of Certified Fraud Examiners (ACFE) has released its latest internal business fraud findings in its Occupational Fraud 2024: A Report to the Nations study. It is the largest global study on occupational fraud and examines nearly 2,000 cases that resulted in more than $3.1 billion in monetary losses. Key Takeaways What Are Internal Controls: Internal controls are guidelines, policies, and procedures that are designed and implemented to protect a bus
TaxConnex
SEPTEMBER 17, 2024
Getting the right sales tax on your invoice is a pivotal step in managing your sales and use tax obligation. Sales and use tax is a tax imposed on the use or consumption of a product or service and meant to be paid by the end consumer. In certain situations (when you have sales tax nexus), it is your obligation to collect and remit it. Unfortunately, this is easier said than done.
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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.
BurklandAssociates
SEPTEMBER 17, 2024
Build a solid financial foundation for your startup’s future with these annual financial planning resources from Burkland’s blog. The post Annual Financial Planning Resources for Startups appeared first on Burkland.
Accounting Today
SEPTEMBER 24, 2024
Five major trends and key takeaways from Bill's Accountant Partner Council.
RogerRossmeisl
SEPTEMBER 29, 2024
With the arrival of fall, it’s an ideal time to begin implementing strategies that could reduce your tax burden for both this year and next. One of the first planning steps is to ascertain whether you’ll take the standard deduction or itemize deductions for 2024. You may not itemize because of the high 2024 standard deduction amounts ($29,200 for joint filers, $14,600 for singles and married couples filing separately, and $21,900 for heads of household).
Going Concern
SEPTEMBER 17, 2024
Various outlets in India have reported today that the mother of Anna Sebastian Perayil, a 26-year-old Chartered Accountant who tragically passed away on July 20, has sent a scathing email to EY India Chairman and Regional Managing Partner Rajiv Memani accusing the firm of callous indifference in the death of their young employee. The mom, Anita Augustine, said that her daughter, who “excelled in everything she did,” was too young to set boundaries and thus experienced an “overw
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.
CPA Practice
SEPTEMBER 23, 2024
Come Oct. 1, the per diem rates used to calculate tax deductions for business travel expenses will be $319 for travel to high-cost locations and $225 for travel to low-cost areas, the IRS said on Friday. Each year the IRS announces special per diem rates taxpayers can use to substantiate the amount of expenses for lodging, meals, and incidental expenses when traveling away from home.
TaxConnex
SEPTEMBER 10, 2024
When you sell across multiple states – or even within various localities in a single state – one striking observation emerges: the consistent inconsistency of sales tax rates. Why? The federal income tax has just seven brackets to cover the whole span of what somebody can make. Why do the states with sales taxes have such a range, from the high combined state and local taxation (pushing 10%) of Louisiana, Tennessee, Arkansas and Washington to the lows of Alaska , Wyoming and Maine.
BurklandAssociates
SEPTEMBER 24, 2024
Outsourced CFO services provide firms with expert financial support, helping partners stay focused on smart investments and strategic growth. The post How Outsourced CFO Services Boost Financial Performance for Smaller Investment Firms appeared first on Burkland.
Accounting Today
SEPTEMBER 4, 2024
The rapid adoption of gen AI has created opportunities for accounting firms — but also challenges.
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.
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.
Acterys
SEPTEMBER 25, 2024
Budgeting, planning, and forecasting (BP&F) is so much more than producing reports and spreadsheets — it’s an essential part of the strategic decision-making process. That requires clear communication of complex financial data to decision makers across the organization, as well as seamless collaboration with cross-functional teams. Excel and Power BI are powerful, yet accessible tools to facilitate that communication, but even small mistakes with a dataset can become a major risk when integ
CPA Practice
SEPTEMBER 19, 2024
By Isaac Bock. The new tax season of 2024 brings multiple changes and updates, which makes it a rather challenging time for all tax professionals. At a minimum, tax professionals need to stay sharp and up to date with the laws and regulatory requirements that change from year to year. This year is marked by unique challenges under tax law, with new IRS regulations and sector-specific concerns.
TaxConnex
SEPTEMBER 5, 2024
Ecommerce couldn’t exist without shipping (and probably not without shipping’s partner “handling,” either), but do either incur sales tax? As is often the case in sales tax, it depends on what, how and where. If the item is taxable, for instance, generally the shipping is, too – if the shipping is taxable at all in a jurisdiction, which it or the handling – or both – may be.
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.
BurklandAssociates
SEPTEMBER 3, 2024
By prioritizing backups, startups can protect their data, ensure compliance, maintain business continuity, and build trust with stakeholders. The post Data Backup Essentials: Safeguarding Your Startup’s Success appeared first on Burkland.
Accounting Today
SEPTEMBER 5, 2024
An introduction to the members of Accounting Today's annual ranking of the top workplaces in the profession.
RogerRossmeisl
SEPTEMBER 29, 2024
Electric vehicles (EVs) have become increasingly popular. According to Kelly Blue Book estimates, the EV share of the vehicle market in the U.S. was 7.6% in 2023, up from 5.9% in 2022. To incentivize the purchase of EVs, there’s a federal tax credit of up to $7,500 for eligible vehicles. The tax break for EVs and fuel cell vehicles is called the Clean Vehicle Tax Credit.
MyIRSRelief
SEPTEMBER 20, 2024
Navigating the IRS appeals process can be daunting, but understanding the steps involved and knowing how to effectively present your case can significantly improve your chances of a favorable outcome. This comprehensive guide will walk you through the IRS appeals process, detailing each step and explaining how our representation tax firm can assist you.
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
CPA Practice
SEPTEMBER 11, 2024
Bloomberg Tax & Accounting has released its 2025 Projected U.S. Tax Rates, which indicate inflation-adjusted amounts in the tax code will increase 2.8% from 2024. This is about half the increase in 2024, and a significant drop from the 7.1% increase in 2023. The full report is available at: [link]. Bloomberg Tax’s annual Projected U.S. Tax Rates Report provides early, accurate notice of the potential tax savings that could be realized due to increases in deduction limitations, upward adjustm
TaxConnex
SEPTEMBER 24, 2024
Wouldn’t it be great if you, a seller in multiple states, could get free sales tax calculation and reporting? Sure would – and that’s long been the draw for becoming a “volunteer seller” in Streamlined Sales Tax (SST) states. Does everyone qualify? And even if you do, how do you make sure to maintain no-cost sales tax calculation and reporting services?
BurklandAssociates
SEPTEMBER 10, 2024
Peter Reinhardt and Jeff Burkland share the inside scoop on Segment’s growth journey. Plus, an exciting look at the future of carbon removal with Charm Industrial. The post Celebrating 100 Episodes of <i>Startup Success</i> with Lessons from a $3.2 Billion Exit appeared first on Burkland.
Accounting Today
SEPTEMBER 12, 2024
The cutbacks are a sign of further retrenchment among the Big Four firms.
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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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