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.
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Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be
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.
CPA Practice
SEPTEMBER 11, 2024
By Chris Howard Executive Summary The accounting profession stands at the precipice of transformative change driven by rapid advancements in technology and evolving client expectations. This Canopy and CPA Practice Advisor survey asked respondents to share where they currently were and where they thought their firms would be three to five years from now on topics like automation, AI integration, workforce dynamics, remote work models, client interaction, digital transformation, security and more
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
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
Accounting Today
SEPTEMBER 19, 2024
National Taxpayer Advocate Erin Collins issued a mea culpa admitting to the findings of a recent report faulting the Taxpayer Advocate Service that she runs for slow responsiveness to taxpayers.
Withum
SEPTEMBER 30, 2024
In an increasingly digital world, the line between personal and professional lives has blurred, making cybersecurity a shared responsibility that extends beyond the workplace. October marks Cybersecurity Awareness Month, a timely reminder for leaders across all industries to take actionable steps toward safeguarding both personal and business information.
Xero
SEPTEMBER 16, 2024
We know how important it is for small businesses to have access to powerful insights to help them run their business better, no matter the economic environment they’re facing. To accelerate our mission to provide powerful insights, we are thrilled to share that Xero is acquiring Syft, a leading global cloud-based reporting, insights and analytics platform for small businesses, accountants and bookkeepers.
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Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.
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.
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.
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
Accounting Today
SEPTEMBER 19, 2024
The Internal Revenue Service cautioned taxpayers to steer clear of promoters who claim their services are needed to handle unpaid debts, saying such businesses often charge excessive fees and often produce no results.
Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius
4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor
Withum
SEPTEMBER 16, 2024
As a plan sponsor, staying informed about the latest regulations and industry trends is crucial to the success of your employee benefit plan as we navigate through employee benefit plan filing season. Adhering to regulatory requirements and ensuring compliance to avoid potential penalties are priorities for plan sponsors with employee benefit plan audits.
Canopy Accounting
SEPTEMBER 6, 2024
Executive Summary The accounting profession stands at the precipice of transformative change driven by rapid advancements in technology and evolving client expectations. This Canopy and CPA Practice Advisor survey asked respondents to share where they currently were and where they thought their firms would be three to five years from now on topics like automation, AI integration, workforce dynamics, remote work models, client interaction, digital transformation, security and more.
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.
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.
Speaker: Chandra McCormack, CPA, MBA, NACD.DC
Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.
Going Concern
SEPTEMBER 30, 2024
We’ve got a story coming up about Wright, Moore, DeHart, Dupuis & Hutchinson, LLC (IPA #409 with $9,771,520 in revenue) of Lafayette, LA and naturally had to check out their reviews on Google because we’ve never heard of this place. Jordan Boston here has a beef with the good folks of WMDD&H: The only non-Google photo for this place is from Jordan.
Accounting Today
SEPTEMBER 13, 2024
Instead of completing 150 credit-hours, this pathway would allow candidates with a bachelor's degree to earn their CPA by demonstrating their professional and technical skills.
CTP
SEPTEMBER 27, 2024
As property tax bills continue to rise, property owners are turning to us as tax professionals asking what they can possibly do to lower these costs. If someone owns an income-producing property, they may be especially dismayed to find that taxes are taking up a significant portion of that income—or they may have a newly-purchased property that is not yet making enough money to justify the hefty tax bill.
Cherry Bekaert
SEPTEMBER 6, 2024
The Federal Financial Institutions Examination Council (FFIEC) announced on August 29, 2024, that it will sunset the Cybersecurity Assessment Tool (CAT) on August 25, 2025, at which point it will be removed from the FFIEC website. This decision reflects the availability of new government resources and models for identifying and managing cybersecurity risk, including the National Institute of Standards and Technology (NIST) Cybersecurity Framework 2.0 and the Cybersecurity and Infrastructure Secu
Speaker: Joe Sharpe and James Carlson
Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.
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
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.
Going Concern
SEPTEMBER 5, 2024
…as expected, some people are b g about it. Rumors have been swirling for weeks like so many unflushable logs that KPMG was about to announce unlimited PTO, something their competitors at EY did four years ago. As seen on r/KPMG: You all were right. They just announced unlimited PTO by u/Active_Ease_2367 in KPMG EY’s switch to unlimited PTO was immediately shat upon, and rightfully so, after a leaked senior management email made the rounds.
Accounting Today
SEPTEMBER 30, 2024
The American Institute of CPAs and the National Association of State Boards of Accountancy proposed a set of changes in the model legislation used in many states to reflect an alternative pathway to CPA licensure based on competency.
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Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.
CTP
SEPTEMBER 24, 2024
Want information on residential property assessment appeals instead? Read here. Working with property owners can be a lucrative investment—both for your client and for you as a tax professional. To ensure that their income-producing property isn’t losing a huge chunk of its income to taxes, property owners need the support of someone who knows where the tax savings opportunities lie.
Summit CPA
SEPTEMBER 26, 2024
With the Fed’s decision last week to drop interest rates, we’ve been getting a lot of questions about debt. Top of the list: “Is now a good time to take out a business loan or secure a new line of credit?
CPA Practice
SEPTEMBER 30, 2024
Over the past 20 years, accounting firm leaders have been challenged by a rapidly evolving technological landscape that promises greater productivity and efficiency – keys to modern successful firms – to those who are able to evaluate and implement the solutions that best optimize client service and firm management. In the wake of the pandemic, they’ve also had to reimagine the dynamics of their staffing and workflow, as many firms adopted remote or hybrid workforce models, often necessary to co
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
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By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.
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