Going Concern
JULY 17, 2024
INSIDE Public Accounting is due to release their Top 500 list soon and in the meantime, they’ve asked a very important question: Will 2024 show another big boost in compensation? Here they’ve compared compensation for equity and non-equity partners, managing partners, and professional staff at non-Big 4 IPA 100 firms for 2023 against 2019.
CPA Practice
JULY 16, 2024
By Davis Bell. In business, as in life, change is the only true constant. From mitigating unprecedented business disruptors to adapting to new operational paradigms, professionals in all industries find themselves dealing with major changes — many of them driven by emerging technologies. [Go to Part II of this two-part series.] Accounting is no exception.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Accounting Today
JULY 16, 2024
Accounting firms and vendors alike have stressed the importance of having a "human in the loop" to oversee AI. Just who are these humans and what do they do?
Going Concern
JULY 15, 2024
Thomson Reuters has another survey to share with the world and that’s the 2024 Audit Survey Report from the TR Institute. Like the State of Tax Professionals and Future of Professionals reports, it gives us a birds eye view of the issues these segments are facing and what they’re doing to address them. It’s 2024 so of course generative AI comes up a lot.
Advertisement
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.
BurklandAssociates
JULY 16, 2024
Investing in employee retention makes financial sense and builds a foundation for sustained success and growth. The post Employee Retention Strategies for Startups: Keeping Your Best Talent Engaged appeared first on Burkland.
RogerRossmeisl
JULY 15, 2024
For many businesses, such as retailers, manufacturers and contractors, strict inventory control is central to operations. If you don’t track inventory accurately, you can’t effectively produce goods, meet customer demand and realize profits. Let’s say you’re performing a year-end inventory count and you come up short. Have you miscounted or have the items been misplaced?
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
JULY 16, 2024
By Jeffrey M. Verdon, Esq., Kiplinger Consumer News Service (TNS) Digital assets, like Bitcoin, have provided a new asset class for investors and traders, minting new millionaires in the process. Cryptocurrencies, DeFi and stablecoin staking, non-fungible tokens (NFTs) and other digital assets have given high-net-worth investors diversification, enhanced liquidity and the potential for significant appreciation (along with a hefty dose of risk).
Accounting Today
JULY 16, 2024
The role of the internal auditor is expected to change drastically in the decade to come, according to a new report by the Institute of Internal Auditors.
CPA Practice
JULY 15, 2024
Advice making the rounds on social media touting a “self-employment tax credit” as a way for self-employed and gig workers to receive big payments for the COVID-19 pandemic period is a new problem the IRS is dealing with because no such tax credit exists. In a consumer alert issued on Monday, the IRS said bad advice circulating on social media about the non-existent “self-employment tax credit” is misleading taxpayers into filing false claims.
RogerRossmeisl
JULY 17, 2024
July 15 Employers should deposit Social Security, Medicare and withheld income taxes for June if the monthly deposit rule applies. They should also deposit non-payroll withheld income tax for June if the monthly deposit rule applies. July 31 Report income tax withholding and FICA taxes for second quarter 2024 (Form 941) and pay any tax due. (See the exception below, under “August 12.
Advertisement
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.
TaxConnex
JULY 18, 2024
Maintaining compliance documentation is crucial for businesses to ensure smooth and successful audits. Proper documentation allows auditors to interpret and verify your financial transactions accurately. Unfortunately, many businesses find themselves unprepared when faced with an audit, lacking the necessary documentation. This can lead to auditors assuming transactions are taxable, or making historical projections or arbitrary assessments of taxable sales.
Accounting Today
JULY 18, 2024
The RSM network made five strategic acquisitions in Europe, including specialist audit and consulting firms in Austria, Denmark and France, plus a prestigious law firm in Spain.
CPA Practice
JULY 18, 2024
The Department of the Treasury and the Internal Revenue Service has issued final regulations updating the required minimum distribution (RMD) rules. The final regulations reflect changes made by the SECURE Act and the SECURE 2.0 Act impacting retirement plan participants, IRA owners and their beneficiaries. At the same time, Treasury and IRS issued proposed regulations, addressing additional RMD issues under the SECURE 2.0 Act.
RogerRossmeisl
JULY 17, 2024
Whether your company acquires businesses that own real estate or you invest in real estate directly, fraud poses an ever-present threat. Buying and selling real estate is complicated, and it’s relatively easy for crooks to manipulate the process. To help mitigate real estate fraud threats, thorough due diligence is essential. Staying current on common schemes and red flags also may enable you to identify risky transactions before you put down any money. 5 schemes First, be aware of these five co
Advertisement
Uncover the latest trends in expense management for small and medium-sized businesses. Our 5th Annual Trends Survey reveals that corporate card use is skyrocketing, but expense software isn't keeping up. This mismatch is creating real challenges for finance teams, who now take an average of 14 days to close their books. Travel policies are shifting to accommodate hybrid work, but many companies are struggling with off-tool bookings.
TaxConnex
JULY 16, 2024
Knowing when and where you have sales tax obligations is a key part of compliance. And understanding your taxability – especially if you don’t sell just tangible personal property (TPP) – is key to getting the right sales tax rates on transactions. Tax mapping helps you determine how items are taxed in a jurisdiction. Anything not tagged to a tax code in mapping is taxed as TTP, which may not be the best or correct sales tax rate.
Accounting Today
JULY 15, 2024
The IRS warned about bad advice that's being peddled on social media promoting a bogus "Self Employment Tax Credit" and prompting unsuspecting taxpayers to file false claims for the credit.
CPA Practice
JULY 17, 2024
By Ali Donaldson, Inc. (TNS) Where have all the accountants gone? Between 1990 and 2021, the number of people sitting for the Certified Public Accountant exam plunged by almost 50 percent , according to the Association of International Certified Professional Accountants. With fewer young people entering the profession and an increasing number of baby boomers, who account for three-quarters of CPAs, heading for retirement, a Bloomberg analysis of data from the Bureau of Labor Statistics found th
RogerRossmeisl
JULY 17, 2024
Buckle up, America: Major tax changes are on the horizon. The reason has to do with tax law and the upcoming elections. Our current situation The Tax Cuts and Jobs Act (TCJA), which generally took effect in 2018, made sweeping changes. Many of its provisions are set to expire on December 31, 2025. With this date getting closer each day, you may wonder how your federal tax bill will be affected in 2026.
Speaker: Duke Heninger
With the rise of fractional finance roles, many CFOs, FP&A professionals, controllers, and accountants are stepping into independent consulting. The expansion of fractional services presents new opportunities for finance professionals, but many face challenges in navigating this transition, finding it daunting. Whether you’re new to fractional work or refining your approach, this webinar will equip you with a repeatable system for success.
Going Concern
JULY 19, 2024
RSM has released its FY24 Impact Report and we just have to recognize how much work they put into making this thing pretty. Not that we read most of it of course. The parts we do read look nice and the excessive animations are snazzy. Does anyone know if they have in-house graphic designers or are they shopping this thing out to an agency? Just curious.
Accounting Today
JULY 18, 2024
The Treasury Department and the Internal Revenue Service issued final regulations Thursday to update the rules for required minimum distributions.
CPA Practice
JULY 16, 2024
The American Institute of CPAs and the National Association of State Boards of Accountancy have expanded international testing availability of the U.S. CPA Exam to the Republic of the Philippines. Passing the Uniform CPA Examination is a prerequisite to becoming a licensed Certified Public Accountant (CPA) in the United States. With the increasing globalization of business, many people who live abroad are interested in obtaining the U.S. professional designation.
RogerRossmeisl
JULY 15, 2024
Employees, self-employed individuals and employers all pay Social Security tax, and the amounts can get bigger every year. And yet, many people don’t fully understand the Social Security tax they pay. If you’re an employee If you’re an employee, your wages are hit with the 12.4% Social Security tax up to the annual wage ceiling. Half of the Social Security tax bill (6.2%) is withheld from your paychecks.
Advertisement
Accounting firms must embrace digital transformation to stay competitive. From improving efficiency and client experience to ensuring data security, digital tools offer the edge needed in a digital-first world. Discover how Fincent can streamline your transition. The accounting industry faces a digital revolution. As technology reshapes business, firms must adapt or risk obsolescence.
Insightful Accountant
JULY 18, 2024
If you are a ProAdvisor, Consultant, or Accountant wanting to support construction businesses as they digitally transition, you won’t want to miss this survey, which will provide valuable insights into the industry.
Accounting Today
JULY 16, 2024
Accounting is an industry wedded to traditional techniques, so leveraging new technology will require a cultural shift within the organization.
CPA Practice
JULY 17, 2024
By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) President Biden has unveiled a proposal to address the rising cost of housing in the United States. The plan would cap rent increases and potentially eliminate tax breaks for certain landlords. “I’m sending a clear message to corporate landlords: if you raise rents more than 5%, you should lose valuable tax breaks,” Biden said.
RogerRossmeisl
JULY 15, 2024
Do you invest in mutual funds or are you interested in putting some money into them? If so, you’re part of a large group. According to the Investment Company Institute, 116 million individual U.S. investors owned mutual funds in 2023. But despite their widespread use, the tax rules involved in selling mutual fund shares can be complex. Review the basic rules Let’s say you sell appreciated mutual fund shares that you’ve owned for more than one year.
Speaker: Igli Laci, Strategic Finance Leader
In today’s competitive market, pricing is more than just a number — it’s the cornerstone of profitability. The right pricing strategy ensures that you capture the true value of your offering, paving the way for sustainable growth and long-term success. Join Igli Laci, Strategic Finance Leader, in this exclusive session where he will explore how a well-crafted pricing approach balances customer perception with business objectives, creating a powerful tool for securing both competitive advantage a
Canopy Accounting
JULY 17, 2024
Darren Root will be sitting down with Canopy CEO Davis Bell to discuss the future of accounting and most of all, answering your questions. You can submit questions for Darren as part of the registration process for the webinar.
Accounting Today
JULY 15, 2024
CliftonLarsonAllen CEO Jen Leary has been focusing on expanding the firm's appeal, especially to young accountants, as CLA grows its international network.
CPA Practice
JULY 15, 2024
Results from the latest Vision report from the Institutie of Internal Audits and the Internal Audit Foundation, based on feedback from more than 7,000 practitioners and stakeholders around the world, lay bare the extent to which technological change will continue to impact the internal audit profession. The results of the “Internal Audit: Vision 2035 – Creating Our Future Together ” report underscore the need for internal audit practitioners to expand the scope of their services and embrace emer
RogerRossmeisl
JULY 17, 2024
Some business owners may be considering donating corporate stock to charities in 2024. Donations of public stocks are generally easy to value because their prices are listed on public stock exchanges. But valuations of private business interests are typically more complicated. Here’s some guidance on how valuators determine the fair market value (FMV) of closely held business shares and why a formal valuation may be needed to support charitable contribution deductions for these gifts.
Advertiser: Paycor
Year-end can be a hectic time for HR professionals, but with proper planning and organization, you can navigate it smoothly. Learn the main watch outs for year-end HR prep with Paycor’s helpful checklist covering employee data, wage and tax information, and special situations. Ensure compliance and efficiency by downloading today!
Expert insights. Personalized for you.
108 
Let's personalize your content