Accounting Today

JUNE 11, 2024

The Internal Revenue Service has announced several new policy updates now that tax season has ended.

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Tax 128

ThomsonReuters

JUNE 11, 2024

Employers and payroll professionals face a complex web of challenges while managing remote and hybrid work arrangements, particularly concerning state income tax withholding and compliance with varying state labor laws. However, implementing clear policies, fostering effective communication, and leveraging technology can help organizations navigate the ever-evolving landscape of remote and hybrid work.

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accounting firms Account accounted accountant 59

Insightful Accountant

JUNE 9, 2024

A new feature rolling out this month allows firms using QBO-Accountant to manage their team member's access to their client's books.

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Summit CPA

JUNE 13, 2024

What is the ideal client concentration? How high is too high of a concentration? What do you do if your concentration is too high? Find out in this post.

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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

Shay CPA

JUNE 12, 2024

Earlier this year, we teed up some accounting tips to help set you up for success. Bookkeeping tips, then, might seem a little redundant. But there’s a key difference. Accounting requires some level of analysis of your company’s financial situation. Bookkeeping focuses solely on keeping track of your financial data. In some ways, that makes it simpler.

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bookkeeping bookkeeping software accounting and finance CPA 52

Canopy Accounting

JUNE 10, 2024

The accounting talent shortage is impacting many firms, but that doesn’t mean it has to affect yours. Learn the simple system to go from, “Where can I find talent” to top talent asking you “How can I work for you?

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Insightful Accountant

JUNE 11, 2024

Intuit recently launched something they are calling Accountant Approved Apps; I must say that I was somewhat disappointed by these 'groupings.

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TaxConnex

JUNE 13, 2024

It seems like yesterday when only physical nexus ignited a company’s sales tax obligations in a state. Six years ago this month, that changed with one court decision. These days selling a certain amount remotely into a state or other tax jurisdiction (one that has a sales tax, anyway) means your company must collect and remit sales tax – a complication of doing business that’s probably going to only get more complicated in the years ahead.

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BurklandAssociates

JUNE 11, 2024

A clear grasp of TAM can be the difference between securing essential funding and falling short. The post Estimating Your Startup’s Total Addressable Market (TAM) appeared first on Burkland.

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Accounting Today

JUNE 13, 2024

The annual list recognizes top leaders from accounting firms across the country.

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It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

Technology

MyIRSRelief

JUNE 14, 2024

Receiving an audit notice from the Internal Revenue Service (IRS) can be a daunting experience for any taxpayer. However, understanding the audit process and knowing your rights and options can significantly ease the stress. This article will delve into the intricacies of IRS audits, outline the steps you should take upon receiving an audit notice, and explain how an Enrolled Agent (EA) can represent and assist you throughout the process.

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audit tax return Tax Education 130

TaxConnex

JUNE 11, 2024

Do you need a state sales tax permit? How about a sales tax license? How about a sales tax certificate of authority? Did you know they’re all the same thing? How do you spell “FEIN” anyway, and when do you need one to sell into a state? Collecting and remitting sales tax after you hit economic or physical nexus in a state comes with a lot of questions – and you usually answer no small number of questions to register for sales tax.

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Withum

JUNE 12, 2024

S Corporation shareholders and partners in a partnership could see their effective federal income tax rate increase by 30% by the end of December 31, 2025, due to the expiration of certain tax laws. With the sunsetting of the 199A deduction and an increase in individual federal income tax rates scheduled to occur as of December 31, 2025, the effective tax rate for pass-through entity owners will jump from 30% to 39.6%.

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Accounting Today

JUNE 14, 2024

Plus, Bill360 solution offers AR automation; Certa announces gen AI capacities, new ESG module; and other accounting tech news.

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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

CPA Practice

JUNE 9, 2024

Rosie Manins, The Atlanta Journal-Constitution (via TNS) The trade association for online marketplaces including Google, Amazon and eBay is trying to void a new Georgia law that extends requirements for collecting seller information, alleging it will hurt Georgia businesses. NetChoice filed a lawsuit Thursday against Georgia Attorney General Chris Carr, claiming Georgia’s “Combating Organized Retail Crime Act” is unconstitutional and conflicts with a federal law that already requires online mark

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Going Concern

JUNE 13, 2024

At least they said “attractive” and not “sexy.” According to a press release they put out yesterday , EY plans to invest a billion dollars over three years on talent and technology “to revolutionize the experience of early career accounting professionals and improve the attractiveness of the profession.” Let’s see what exactly they think that looks like: This investment includes a significant increase in early career compensation, artificial intelligence

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Insightful Accountant

JUNE 13, 2024

The 2025 ProAdvisor Awards process will launch earlier than ever, so I can think of nothing to help motivate and prepare you than Matt Fulton's article setting forth the "right stuff" to becoming the 'Best of the Best.

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Accounting Today

JUNE 12, 2024

Keila Hill-Trawick founded her firm, Little Fish Accounting, in 2018 after she started helping her friends with their taxes as a side hustle.

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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

CPA Practice

JUNE 13, 2024

By Daniel F. Rahill, CPA/PFS, JD, LL.M., CGMA. The Tax Cuts and Jobs Act of 2017 (TCJA) brought about substantial changes to the tax landscape, significantly increasing the lifetime estate and gift tax exemption amounts ($13.61 million for individuals and $27.22 million for married couples). However, these exemption amounts are set to expire on Jan. 1, 2026, and—absent new legislation before then—will revert to approximately $7 million for individuals and $14 million for married couples, subject

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Going Concern

JUNE 11, 2024

So FT ran this yesterday: ‘ Private equity groups poised to own one in three top US accounting firms ‘ and in it, they paraphrased people familiar with the matter as saying “ten of the 30 largest US accounting firms could soon be in private equity hands.” The article goes on to say: The acquisitions by financial buyers of those two top-10 firms by revenue opened the floodgates to other deals, the people said, positioning private equity to increase its influence over the U

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Alabama accounting firms Sales accountant 113

Cherry Bekaert

JUNE 10, 2024

For fast-growing companies, becoming a C corporation for income tax purposes can offer significant tax savings for their shareholders. Section 1202 of the Internal Revenue Code (IRC) is a powerful tool for attracting investors with funds to fuel a company’s growth. To qualify for these tax benefits, both the company and shareholder must meet specific requirements, and non-compliance can result in missed opportunities for savings.

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Accounting Today

JUNE 14, 2024

For tax pros, the IRS is also hosting recruiting events at its Nationwide Tax Forums.

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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

CPA Practice

JUNE 9, 2024

More than 5,000 tax, accounting and financial professionals participated in-person and virtually in AICPA Engage 2024, the largest annual educational, technology and networking event. Engage 2024 was held June 2-6, 2024, at the Aria Resort and Casino in Las Vegas. On June 2, CPA Practice Advisor brought together more than two dozen of the profession’s most respected technology and professional influencers for the Accounting Thought Leader Think Tank, for discussions, demonstrations, and round-ta

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Technology CPA Education audit 119

Going Concern

JUNE 13, 2024

ConvergenceCoaching has opened up responses for their Anytime, Anywhere Work survey and you are invited to contribute. The survey is open to either of these: The Firm Leadership portion of the survey is designed for completion by one person for each accounting and consulting firm — usually the Managing Partner or a top HR professional. Those leaders are asked to provide information about their firm’s remote and flex work practices.

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Withum

JUNE 14, 2024

Tips are a staple of the restaurant industry and are currently under scrutiny as there is a wave of frustration with customers that is resulting in less tipping or no tipping at all. This has a wide array of impact to restaurants, from the employees, in both the front and back of the house, all the way up to the owners and investors of the restaurant.

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income tax Tax payroll 98

Accounting Today

JUNE 13, 2024

In advance of World Elder Abuse Awareness Day, the Internal Revenue Service is highlighting how criminals target older citizens.

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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

CPA Practice

JUNE 14, 2024

The Internal Revenue Service has issued a renewed warning about the rising threat of impersonation scams, which often target older adults by pretending to be government officials, in an attempt to steal sensitive personal information and money. By posing as representatives from agencies such as the IRS, or other government agencies, these fraudsters use fear and deceit to exploit their victims.

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Tax tax return Government audit 117

Going Concern

JUNE 11, 2024

The SEC announced today that current PCAOB Chair Erica Y. Williams has been appointed for a second term that begins on October 25, 2024 and ends on that same day in 2029. She’s been in the big chair at the PCAOB (no pun) since January of 2022 after she was brought in after a bit of a coup involving her predecessor William Duhnke. So this will be her first full five-year term.

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CTP

JUNE 13, 2024

In a recent blog , we discussed the tax implications of converting a residence to a rental property. Once that rental property begins generating income, what else does a taxpayer need to consider for effective tax planning? First, real estate rentals classify as either long-term or short-term rentals. Long-term rentals typically qualify for traditional real estate tax deductions from mortgage interest, property taxes, insurance, and property management fees.

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Accounting Today

JUNE 13, 2024

The Corporate Transparency Act, ostensibly meant to address scams and other crimes, has ironically opened the door to new kinds of scams directed at small-business owners.

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