Sat.Mar 09, 2024 - Fri.Mar 15, 2024

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6 opportunities every firm should consider

Accounting Today

With a wealth of ways to move forward and build their practices, accounting firms need to figure of which to take, and which to pass up.

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Is BOI Reporting Already Dead?

Insightful Accountant

A judge ruled the Corporate Transparency Act's ownership reporting unconstitutional for NSBA and its 60,000+ members by March 1, 2024. This may trigger similar cases nationwide, impacting BOI reporting. Practitioners need to plan their response.

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The Benefits of Outsourced Accounting

Dent Moses

In today’s business environment, companies are constantly seeking ways to optimize operations and enhance efficiency. One strategy gaining prominence is outsourcing, particularly accounting functions. Outsourcing accounting services can offer a myriad of benefits, revolutionizing a business’s financial landscape. Firstly, outsourcing allows companies to tap into a pool of skilled professionals without the burden of hiring and training in-house staff.

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Automation’s place in compliance

TaxConnex

Since the first adding machine showed up on counters to help shopkeepers tack on the correct sales tax, automation has been part of compliance. Now the buttons and the lever have given way to behind-the-scenes software and automatic functionality. Good thing, too, as sales tax has evolved beyond a static percentage to involve thousands of tax jurisdictions and ever-changing calculations.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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The Ultimate Guide to Accounting Practice Management Software

Canopy Accounting

Have questions about accounting practice management software? We cover it all here. Learn what it is, how to use it, and much more!

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How Is Machine Learning Used in Accounting?

Patriot Software

Machine learning (ML), a branch of artificial intelligence (AI), is everywhere. It has transformed online shopping (“users also bought…”) and TV streaming (“because you watched…”). Machine learning has also revolutionized the field of accounting. Machine learning in accounting has made financial management more streamlined, accurate, and insightful.

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More Trending

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How the enhanced CTC could impact tax season

Accounting Today

The fate of the Child Tax Credit is in the hands of the Senate, but the IRS is ready to implement changes rapidly if the bill is passed.

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Filing season off to a strong start

Accounting Today

Despite a later start, tax filing is proceeding apace — though there are some unresolved issues.

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Fewer People Are Getting Tax Refunds This Year, IRS Stats Show

CPA Practice

By Dave Eisenstadter, masslive.com (TNS) Did you end up unexpectedly owing money on your taxes this year? Statistics from the IRS ending on March 1 indicate you’re not alone. Compared with a similar point in the tax season the previous year, there have been nearly 6 million fewer refunds, IRS records show. By March 3, 2023, 42,040,000 refunds had been issued compared with 36,288,000 by March 1 of this year, a difference of 5.75 million or nearly 14%.

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Grant Compliance 101 for Startups

BurklandAssociates

Clean Energy startups and other grant recipients have all the usual accounting requirements, plus additional grant compliance responsibilities. The post Grant Compliance 101 for Startups appeared first on Burkland.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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Navigating Tax Relief Services in Whittier, California: A Lifeline for Taxpayers

MyIRSRelief

In the bustling city of Whittier, California, individuals and businesses alike face the daunting task of navigating the complex world of taxes. From unfiled tax returns to unpaid back taxes, and from employment 941 payroll issues to the intimidating process of IRS, FTB, EDD, and CDTFA audits, the challenges can seem insurmountable. However, tax relief services offer a beacon of hope, providing expert guidance and support to those in immediate need.

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Acterys Recognized as an Accelerator in Nucleus Research’s 2024 CPM Value Matrix

Acterys

Navigating Corporate Performance Management (CPM) needs has become a strategic force for businesses eager to harness data for insightful decision-making. To cater to the evolving needs of SMBs and enterprises, Acterys has emerged as a distinguished accelerator in the 2024 CPM Technology Value Matrix by Nucleus Research, showcasing its innovative approach to integrating analytics and planning.

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Grant Thornton gets major PE stake

Accounting Today

Private equity firm New Mountain Capital is taking a majority stake in Grant Thornton in the biggest deal to come along in PE firms' involvement in the accounting field.

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IRS Offers Special Resources Pages in 21 Languages

CPA Practice

The Internal Revenue Service continues to increase the amount of information available in multiple languages. Although the primary language of the agency is usually expressed in dollar signs followed by numbers and commas, the agency offers a variety of support tools to help people across multiple languages. The agency’s multilingual efforts are a part of its Strategic Operating Plan, which has received additional funding since the enactment of the Inflation Reduction Act.

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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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Cannabis Tax Frenzy

Withum

The cannabis tax community is abuzz with rumor and delight. The giddiness stems from a recent announcement by a publicly traded cannabis company that it obtained large tax refunds from the IRS, even though the company has been tightlipped about the reason for the refunds. The company announced nothing more than the amount of the refunds and the tax years to which they relate, and speculation is rampant.

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PwC Celebrates Seven Consecutive Years of Not Screwing Up the Oscars

Going Concern

The 96th annual Academy Awards went off seemingly without a hitch last night but we’re not here to talk about that because this isn’t a movie blog and I haven’t seen Oppenheimer. We’re here to rehash what happened seven years ago because this website specializes in the beating of dead horses and reminding Big 4 accounting firms of the dumb things they’ve done over the years.

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Early identification of operational distress is key

Accounting Today

While every company is different, there are 12 operational areas distressed businesses often miss, which can foretell a deteriorating financial condition.

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IRS Says March 22 is Deadline to Resolve Questionable ERC Claims

CPA Practice

The Internal Revenue Service has renewed its message for businesses to review the Employee Retention Credit guidelines to avoid future compliance action for improper claims. Amid aggressive marketing that misled many businesses into filing claims for ERC, the IRS has sharply increased compliance action through audits and criminal investigations – with more activity planned in the future.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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Let’s Help Promote Collaboration With NJ Association of Community Providers

Withum

Explore Other Episodes #CivicWarriors #WithumImpact The post Let’s Help Promote Collaboration With NJ Association of Community Providers appeared first on Withum.

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Private Equity Is Taking a Majority Stake in Grant Thornton

Going Concern

The selection of “Grant Thornton” images on our stock photo site sucks, this office in Ireland is the best I could do sorry. This morning we received a tip: Grant Thornton with a “strategic partnership” with New Mountain Capital. All hands call at 12:30 CST to discuss Before we had a chance to go digging around — we haven’t heard a peep about this until now — our tipster sent over a link to a fresh Financial Times report : Grant Thornton US sells majorit

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IRS warns of money mule networks

Accounting Today

Criminals are exploiting networks of innocent people to move illicit funds between bank accounts, currencies and blockchains in an effort to evade law enforcement.

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10 U.S. Cities With the Largest Gender Pay Gaps

CPA Practice

By Chris Morris, Fast Company (TNS) March 12 is Equal Pay Day in the U.S., a representation of the additional number of days women must work in order to match the amount men earned last year. But in some cities, it could take even longer. A report from product research company, ChamberofCommerce.org, using data from the U.S. Census, examines which U.S. cities have the dubious honor of having the largest gender pay gaps.

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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Russell Goldberg Inducted Into University of Central Florida College of Business Hall of Fame

Withum

Withum is proud to share that Russell Goldberg , Partner in Charge of Withum’s Orlando Office , has been inducted into the University of Central Florida College of Business Hall of Fame. Russell is a proud graduate of the University of Central Florida (UCF) Kenneth G. Dixon School of Accounting. In his illustrious career of nearly 35 years, he has always prioritized giving back to the organization and nurturing the next generation of accountants coming out of UCF.

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Formerly Prestigious Firm Fires 327 People and Three Dozen Partners After Genius Money-Making Scheme Backfires

Going Concern

*Technically the partners are being forced to retire but the headline was already way too many characters It’s been more than a year since Australian Financial Review blew the PwC Australia tax scandal wide open and it’s been nothing but migraines for PwC leadership (and their cousins at other Big 4 firms also subject to relentless grilling by Aussie senators) since.

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Tax pros: Be careful what you tell clients about BOI

Accounting Today

Affected businesses may turn to their accountants for help, but are firms the best source to help clients report beneficial ownership information to the feds?

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Worker Time Off Requests Hit Highest Point Since 2019

CPA Practice

January 2024 had the highest percentage of employees making paid time off (PTO) requests since the beginning of 2019, according to the BambooHR Workforce Insights Report. The data, pulled from the BambooHR platform, also shows that the average number of employee performance reviews in companies is increasing annually and hiring is now outpacing turnover.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Recon Your Way to QB Talks on March 20, 2024

Insightful Accountant

If you're into revenue recognition you better reconnoiter our upcoming QB Talks on Wednesday, March 20, 2024 at 2:00 PM Eastern when Alicia Katz Pollock will teach you all about this new feature in QBO Advanced.

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Weekend Discussion: Is Everybody Dumb Now?

Going Concern

Are the kids not alright? That’s the question posed by this recent r/Big4 post. Two themes repeatedly emerge from the comments: The early-career busy work has been outsourced away and this is the inevitable result The pay is too low and workload too high, new hires are wise not to bust their asses for the firm given these two facts And a third factor: Young people have always been kind of dumb and OP probably forgot how dumb they were when they were an associate.

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Capital gains hikes at center of Biden's second-term tax agenda

Accounting Today

President Joe Biden's budget proposal — which calls for sweeping tax increases on corporations and the wealthy — is the opening round of a looming tax fight set to consume Washington next year.

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6 Most Common Errors Made on Retirees’ Tax Returns

CPA Practice

By Evan T. Beach, EA, CFP, AWMA, Kiplinger Consumer News Service (TNS) The only thing worse than the monotonous task of preparing your tax return, or preparing your CPA to prepare your tax return, is doing it again on an amended return. We work with retirees to help maximize income, minimize taxes and plan their estate. Below are the six most common mistakes we see retirees make when seeking to minimize their lifetime tax burden.

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.