ThomsonReuters

AUGUST 3, 2023

In the rapidly evolving landscape of the tax and accounting industry, specialization has emerged as a solid differentiator, providing firms with a distinct competitive edge. As clients’ needs become more diverse and complex, offering cookie-cutter services is no longer sufficient. Instead, firms are embracing specialization to tailor their expertise and solutions to match the unique requirements of their target clients. 1.

accounting firms 98

accounting firms Account accounted accountant 98

Insightful Accountant

AUGUST 2, 2023

New Oracle NetSuite white paper not only provides a guide for CFOs about the topics of AI and Machine Learning, but also evaluates ChatGPT. Read our summary of how ChatGPT explained ASC 842 compliance.

NetSuite 98

NetSuite Account accounted accountant 98

Basis 365

AUGUST 3, 2023

In today's globalized business landscape, outsourcing has become a popular strategy for companies looking to streamline operations and reduce costs. One area that has seen significant outsourcing is accounting. Outsourced accounting models allow businesses to access specialized expertise, increase efficiency, and focus on core competencies. Regarding outsourced accounting, two prevalent models are offshore and onshore.

Account 52

Account accounted accountant 52

Insightful Accountant

JULY 31, 2023

A new webinar by LeaseCrunch will help guide attendees through preparing for the next chapter of ASC 842 lease accounting implementation. See how to sign up today.

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Account accounted accountant 98

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

Airbase

AUGUST 2, 2023

For many mid-market companies, it’s a little early to staff a procurement department. At Airbase, I’m the controller of a 300-person tech company without a dedicated procurement professional, so the responsibility to ensure that the procurement function is being fulfilled (policy compliance and vendor management) falls to me. Even in the absence of full procurement teams and legacy solutions, there are still steps that can help us controllers adhere to procurement best practices.

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Spend Management Spend Management Tools Spend Management System accounts payable 130

Accounting Today

AUGUST 2, 2023

The Internal Revenue Service hopes to process all of the tax correspondence, notice responses and non-tax forms it receives digitally in the next two years in an effort to reduce the amount of time-consuming paper it receives in the mail.

Tax 98

Tax 98

TaxConnex

AUGUST 1, 2023

It seems like a simple part of selling online. You sell an item to a customer, they decide for whatever reason to return it, and you give them a refund. Simple. Except when sales tax becomes involved. One in every five … What are the odds your online company will have to deal with returns and make refunds? Pretty likely: At least one in every five products ordered online are returned, versus maybe one in 10 bought in a brick-and-mortar store.

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Sales Rhode Island Tax Michigan 130

CPA Practice

AUGUST 2, 2023

Dear CPA Practice Advisor reader, We appreciate that you enjoy reading our free content, and we are committed to keeping it free. In order to do so, and to be able to expand content and add customization features, we will start requiring registration. Rest assured, the process and the content will still be free and unlimited. As you access content on cpapracticeadvisor.com , you may notice that you are being asked to either log in or sign up for an account.

CPA 97

CPA Start-ups accountant accounted 97

Accounting Today

AUGUST 3, 2023

According to a plea agreement, Biden was well aware of his tax liabilities from an accountant he hired. The accountant prepared Biden's returns and sent them to him for review and signature. Despite repeated encouragement by his accountant, Biden never signed or submitted his returns.

Tax 19

Tax Account accounted accountant 19

RogerRossmeisl

AUGUST 4, 2023

There are many types of professional practices. Examples include medical, architecture, engineering, accounting, advertising, design and law. From a business valuation perspective, it’s important to recognize the common denominators these businesses share. Reliance on intangible assets Professional practices provide services rather than sell products (at least primarily).

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Education CPA accountant accounted 204

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Technology

SMBAccountant

AUGUST 4, 2023

Internal audits play a crucial role in the success and sustainability of a company. They are systematic and independent evaluations of a company’s internal controls, financial reporting, and operational processes. Conducting regular internal audits helps identify potential risks, improve operational efficiency, and ensure compliance with laws and regulations.

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BurklandAssociates

AUGUST 2, 2023

Build a file organization structure and be disciplined about saving your files to streamline future due diligence and seize the opportunity. The post Due Diligence Checklist for Startups appeared first on Burkland.

Tax 130

Tax accountant accounted Account 130

MyIRSRelief

AUGUST 1, 2023

Trucking companies form the backbone of the transportation industry, ensuring that goods are delivered efficiently and promptly across the country. However, with the increasing complexity of tax regulations, many of these companies find themselves struggling to maintain tax compliance. Non-compliance can lead to severe penalties and financial setbacks, posing a significant threat to their operations.

payroll tax 130

payroll tax Tax payroll audit 130

RogerRossmeisl

AUGUST 4, 2023

Your business may be able to claim big first-year depreciation tax deductions for eligible real estate expenditures rather than depreciate them over several years. But should you? It’s not as simple as it may seem. Qualified improvement property For qualifying assets placed in service in tax years beginning in 2023, the maximum allowable first-year Section 179 depreciation deduction is $1.16 million.

Real Estate 196

Real Estate CPA Tax business tax 196

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

Accounting Today

AUGUST 4, 2023

The Chartered Institute of Management Accountants and the Chartered Professional Accountants of Canada signed a memorandum of understanding.

CPA 98

CPA management accounting management accounts accounted 98

CPA Practice

AUGUST 4, 2023

By John M. Goralka, Kiplinger Consumer News Service (TNS) A buy-sell agreement is a key component of business succession planning, particularly for small businesses with two or more family groups in the ownership structure. This issue is applicable for both corporations and limited liability companies (LLCs). A buy-sell agreement provides for the possible or mandatory buyout of an owner’s interest in the business upon the occurrence of certain stated events such as death, disability, termination

Tax 98

Tax California Non-Profits income tax 98

Going Concern

AUGUST 3, 2023

In what must surely be an oversight, mandatorily retired PwC Australia partner Peter van Dongen (again, great name) neglected to mention that he was forced out of the firm, saying he “agreed with PwC to bring forward my planned retirement by a few months.” AFR columnist Joe Aston writes : A month ago, embattled consultancy giant PwC announced it was booting eight partners, including Sydney-based Peter van Dongen, following an internal investigation into its tax leak scandal.

Government 98

Government Start-ups Tax public accounting 98

RogerRossmeisl

AUGUST 4, 2023

Expanding operations into foreign countries can help U.S. businesses reduce labor and operating costs. It can also provide them with access to new markets and potentially higher profits. You may be attracted to a country by a plentiful labor supply, significant tax benefits or government incentives. But, beware: Some foreign business environments present serious fraud risks.

CPA 196

CPA Government Tax 196

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

Accounting Today

AUGUST 4, 2023

The chair and senior partner of PwC shares why it's important for firms to have their employees' backs.

Technology 98

Technology 98

CPA Practice

AUGUST 4, 2023

The IRS on Aug. 4 provided guidance to taxpayers on the requirements for home energy audits in order to claim the energy efficient home improvement tax credit. Created by last year’s Inflation Reduction Act, the nonrefundable energy efficient home improvement credit is available to taxpayers who purchase and install certain energy efficient improvements in their principal residences.

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audit auditor Tax Start-ups 98

Canopy Accounting

AUGUST 3, 2023

Many of our clients are heavily invested in the stock market. While we count on the brokerage statements to help us report their income correctly, it’s imperative that we have a good working knowledge of the type of income these investments produce and how to correctly report them on the tax return.

tax return 98

tax return Tax 98

RogerRossmeisl

AUGUST 4, 2023

If you’re age 65 and older and have basic Medicare insurance, you may need to pay additional premiums to get the level of coverage you want. The premiums can be costly, especially for married couples with both spouses paying them. But there may be an advantage: You may qualify for a tax break for paying the premiums. Premiums count as medical expenses For purposes of claiming an itemized deduction for medical expenses on your tax return, you can combine premiums for Medicare health insurance wit

tax return 177

tax return Tax CPA 177

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

Accounting Today

AUGUST 4, 2023

The unemployment rate dipped one-tenth of a point to 3.5%, the U.S. Bureau of Labor Statistics reported.

Account 98

Account accounted accountant payroll 98

CPA Practice

AUGUST 4, 2023

By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) There’s another Mega Millions drawing Aug. 4 (that’s tonight!) and the advertised jackpot has climbed to $1.25 billion. That’s an estimated cash payout of about $625.3 million, which is the fourth-largest prize in Mega Millions history. However, the Mega Millions winner will have to pay considerable federal taxes.

South Dakota 98

South Dakota New Hampshire Wyoming income tax 98

Canopy Accounting

AUGUST 4, 2023

The accounting industry is undergoing significant changes in today's fast-paced and technology-driven world. Integrating AI and technological advancements presents challenges and opportunities for accountants and accounting firms. Remaining competitive and thriving in this evolving landscape means embracing the new — new ideas, new practices, and new technology.

Account 98

Account accounted accountant accounting firms 98

RogerRossmeisl

AUGUST 1, 2023

As posted to the Climate One YouTube page on 7/17/23 Run Time 58 minute, 47 seconds (when beginning at Time Stamp 21:33) Climate One clip description: Demand for lithium ion batteries is expected to grow 500% by 2030, and the race for raw materials is on. Lithium mines around the world are opening or expanding, while children as young as six in the Congo carry sacks of cobalt-laced rocks on their backs for less than $2 a day.

CPA 26

CPA cpa firm Technology 26

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

Accounting Today

AUGUST 4, 2023

CBIZ Somerset promotes six to senior manager; Walter Shuffain hires CAS managing director; and more news from across the profession.

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CPA Practice

AUGUST 3, 2023

For the last two years, the American Institute of CPAs (AICPA) has diligently and consistently advocated on behalf of taxpayers and CPAs to the Internal Revenue Service (IRS) and the Department of the Treasury regarding unscrupulous third-party vendors promoting improper Employee Retention Credit (ERC) claims. The ERC, established as part of a COVID-19 relief package to aid businesses during the pandemic, has been exploited by unethical credit mills and other bad actors to submit claims on behal

cpas 98

cpas cpa firm payroll tax CPA 98

Going Concern

AUGUST 2, 2023

Audit Analytics has released “ A Twenty-Year Review of Audit Fees ,” an in-depth look at audit fee trends from 2002 to 2022 and there are some fun charts inside. Mainly we care about this one: In FY2003, average audit fees were $681,000; in FY2022, this number was $2,243,000. A few more factoids: The average audit fees paid by SEC registrants reached an all-time high in FY2022 at $2,242,980—representing an 11% increase from FY2021 Average total fees paid grew nearly 10% in FY2022 to

audit 98

audit auditor Agriculture accounting standards 98

Insightful Accountant

AUGUST 3, 2023

American Institute of CPAs pushes for more ERC accountability following Capitol Hill committee hearing.

Account 98

Account accounted accountant cpas 98

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