Accounting Today
NOVEMBER 6, 2023
Accounting firms need to pay more to bring young people into the profession, as starting salaries are still lagging compared to other fields, and they have to make other changes in how the job is structured.
Accounting Today
NOVEMBER 15, 2023
While it initially garnered attention for its creative applications in content and image generation, the true potential of generative AI lies in its ability to unlock new ways of thinking in the business world.
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CPA Practice
NOVEMBER 9, 2023
By Karin Price Mueller, nj.com (TNS) The IRS on Thursday released updated tax brackets and standard deductions for 2024. While the actual percentages of the tax brackets will remain the same until 2025 because of the Tax Cuts and Jobs Act of 2017, the income levels of each bracket change annually to adjust to inflation. These tax rates are for the 2024 tax year covering tax returns that will be filed in 2025.
Withum
NOVEMBER 3, 2023
The subject of accounting standards is of utmost importance in the business world. With the ever-evolving nature of the global economy, it becomes imperative to align accounting practices and regulations with the changing needs of organizations. To this end, the Accounting Standards Update 2023-01 Leases (Topic 842): Common Control Arrangements offers valuable insights and guidelines for entities involved in such transactions.
Speaker: Amanda Adams, Fractional CFO, CPA
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, 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.
Accounting Today
NOVEMBER 6, 2023
Delaying a payment or not paying an invoice and letting amounts pile up are a way for a client to give voice to a problem with your services without causing an immediate confrontation.
CPA Practice
NOVEMBER 16, 2023
Today, ensuring your firm delivers exceptional value and effectively captures that value through appropriate pricing is crucial. Traditional approaches to scoping and pricing jobs have often been fragmented and inconsistent. Partners and managers handle their own pricing on a client-by-client basis and often end up undercharging. The same client might get a quote from two offices for the same service priced drastically differently depending on who they call.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Going Concern
NOVEMBER 12, 2023
Fresh off the rumor mill via the tip box: Forvis, in its laughable quest for global domination (WE DONT WANT TO BE THE BIG 4), is going to announce another merger/acquisition this week, presumably to leapfrog GT and BDO in the Americas or establish significant footing overseas. FORV/S (ugh why’d I type that) currently sits at #8 on the IPA Top 100 with $1.7 billion in revenue.
Insightful Accountant
NOVEMBER 23, 2023
As Intuit incorporates more of the QuickBooks Commerce inventory related functionality into various QuickBooks Online SKUs, they are adding some "Style" to QBO Advanced Inventory.
Withum
NOVEMBER 30, 2023
1099 filing season is approaching, and now is the time to review your vendor information to ensure everything is in order come January. Let’s break down what you need to know ahead of time. First, you want to familiarize yourself with the standard 1099 forms that most companies must file. 1099 NEC (Non-employee Compensation) reports payments of at least $600 or more in the calendar year to non-employees for services rendered. 1099 MISC (Miscellaneous) reports miscellaneous payments such as ren
Accounting Today
NOVEMBER 6, 2023
Lots of businesses have claimed the Employee Retention Credit who don't actually qualify for it — and in many cases it's going to be up to their accountants to set them right, says Randy Crabtree.
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.
CPA Practice
NOVEMBER 20, 2023
A new study on how accounting professionals feel about their profession, job satisfaction, and automation has found that, while they are overwhelmingly positive about the profession, there is a clear need for more automation. This is an opportunity for firms to provide better client and employee experiences and to gain a competitive advantage. These results were part of the study, “Automation: Putting Accountants on the Right Path,” which was commissioned by ShareFile , a business unit of Cloud
ThomsonReuters
NOVEMBER 28, 2023
Jump to: Reflect on your current tax workflow Use automation to boost staff engagement and retention Unlock growth opportunities With staffing shortages of epic proportions, the accounting industry is facing a crossroads. In recent years, more tax professionals have exited the industry than entered it, which presents the potential for detrimental effects across the business and financial world.
Going Concern
NOVEMBER 8, 2023
KTVN in Reno has covered the CPA shortage and in order to do so because local news reporters rarely even think about accountants much less report on them, the news spoke to the incredibly candid Mark Bailey, managing partner and founder of Excelsis Accounting Group. In a sea of talent shortage articles quoting boomers who think 70-hour weeks build character, it’s refreshing to see someone speak so openly about the profession’s biggest issue. 2News : “I think that our profession
Insightful Accountant
NOVEMBER 30, 2023
The Financial Crimes Enforcement Network, part of the U.S. Department of Treasury is set to begin Small Entity Compliance implementation and enforcement of provisions related to Beneficial Owners Reporting as of January 1, 2024.
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
Withum
NOVEMBER 15, 2023
In a move aimed at modernizing and streamlining the interaction between the Internal Revenue Service (IRS) and taxpayers, the IRS has recently announced the launch of its new Online Document Upload Tool. This tool represents a significant shift from the traditional method of correspondence, which primarily involved sending paper documents via regular mail.
Accounting Today
NOVEMBER 30, 2023
Corporate audit committees have been providing investors with a greater number of disclosures about their activities and responsibilities over the past 10 years, but there's still room for improvement.
CPA Practice
NOVEMBER 21, 2023
Online sellers who use a third-party payment app will get a reprieve this upcoming tax filing season as the IRS said on Tuesday it will once again delay the new $600 Form 1099-K reporting threshold. The agency said it is planning for a reporting threshold of $5,000 for tax year 2024 before phasing in the $600 reporting threshold that was enacted under the American Rescue Plan in 2021.
CTP
NOVEMBER 15, 2023
Do you feel that you pay too much in tax? You’re not alone. The General Accounting Office estimates that Americans over-pay their taxes by almost a billion (yes, that’s billion) dollars each year! That’s why tax planning is gaining in popularity. Why do so many pay more than they have to? Some obvious reasons are mistakes or oversights on their tax returns.
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
Going Concern
NOVEMBER 9, 2023
A day after PwC Australia cut four percent of its workforce , EY Oceania made some cuts of its own. 232 people to be exact. That works out to more than two percent of its 10,700-person workforce. Reports AFR : The firm, which was the only big four giant to avoid cutting staff during the COVID-19 pandemic downturn, is also dealing with issues on two other fronts: the fallout of a scathing report into its culture , which found staff felt overworked, bullied and harassed and its own tax scandal inv
Insightful Accountant
NOVEMBER 30, 2023
Accounting now heavily relies on various applications and systems. Unfortunately, these are often different, either cloud-based, SaaS, or desktop. This poses security risks as firms lack IT support.
Withum
NOVEMBER 14, 2023
The Internal Revenue Service (IRS) releases a list of inflation adjustments annually. The IRS has recently published the inflation adjustments for the 2024 tax year. It is crucial to monitor these updates in order to determine how they can impact you and your family. Key Figures – Estate and Gift Taxes Below is a summary of key figures related to Estate and Gift Taxes. 2024 2023 Lifetime Estate and Gift Tax Exclusion $13,610,000 $12,920,000 Lifetime Generation-Skipping Transfer (GST) Ta
Accounting Today
NOVEMBER 28, 2023
The lowering of the Form 1099-K threshold from $20,000 to $600 will not only produce millions more forms to be sent to taxpayers, but could also prompt many of them to abandon online marketplaces and gig economy jobs.
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The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.
CPA Practice
NOVEMBER 26, 2023
The sessions and CPE fields of study for Ensuring Success 2023 have been announced. Ensuring Success will be held December 6-7, 2023. Professionals can earn up to 14 hours of free CPE during this 2-day annual, virtual conference. Additionally, EAs can receive up to 3 hours of CE credit. Register now and mark your calendar for Ensuring Success, to ensure you meet your year-end CPE requirements.
Canopy Accounting
NOVEMBER 13, 2023
It's that time again to begin exploring ways we can manage tax season, stay sane, and still be intentional about how we lead our firms. In this webinar we'll discuss some capacity management tips for those running a tax season with a virtual team (which is more difficult to do than brock and mortar!).
Going Concern
NOVEMBER 7, 2023
Generative AI is a powerful tool, most of all in the hands of people who know how to use it. Like all new technologies, things can also go awry when you let neophytes play around with it unsupervised. Particularly when you let the newbies play around with it unsupervised and then they take what the AI generated to a parliamentary inquiry and present it as fact.
Insightful Accountant
NOVEMBER 21, 2023
Intuit has found a new way to incorporate more client data into the QuickBooks ecosystem even when the client doesn't subscribe to it. QuickBooks Ledger. It's a way to 'ledger' client data, validate it, and pass it on for tax preparation.
Speaker: Mark Stovel
When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.
Withum
NOVEMBER 29, 2023
Beginning January 1, 2024, the Corporate Transparency Act requires certain businesses to submit an online report to the Financial Crimes Enforcement Network (FinCEN), an arm of the U.S. Treasury Department. The report will require affected businesses to provide personal information about their legal entities, beneficial owners, and company applicants.
Accounting Today
NOVEMBER 8, 2023
By clicking on malicious links and then entering your login information, you risk letting cybercriminals pretend to be you and send out $250,000 worth of fake invoices.
CPA Practice
NOVEMBER 27, 2023
The Financial Accounting Standards Board (FASB) on Monday approved new rules that are expected to improve disclosures about a public company’s reportable segments and provide more information to investors about a segment’s expenses. The changes outlined in Accounting Standards Update (ASU) No. 2023-07 , Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , are the “most significant since 1997” when the board issued Statement 131 to improve the way public companies repor
Canopy Accounting
NOVEMBER 1, 2023
In Episode 1 of Canopy's Practice Success podcast, Gaynor Meilke , owner of Charisma Inc. emphasizes accountants are often people-oriented and love helping others. Gaynor suggests that accountants may lack confidence in marketing themselves and their services. Gaynor highlights that marketing is a continuous process for accounting firms and recommends focusing on key strategies like social media, building an email list, and having a strong website.
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Setting the stage for successful organizational change always begins with clear, thoughtful communication. When it comes to rolling out a new travel and expense (T&E) policy, establishing a well-structured communication plan is key to ensuring that all employees understand the changes and their impact. By following a step-by-step approach, you can guide your organization through the transition, fostering smooth adoption from the outset and improving compliance.
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