Accounting Today

DECEMBER 11, 2023

As the accounting profession enters a period of unprecedented change, the AICPA's Barry Melancon highlights the upsides and downsides.

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accounted Account accountant 131

Canopy Accounting

DECEMBER 13, 2023

In this ebook, you'll learn 4 ways to create a top tier experience for clients while optimizing your firm's internal processes for long-term and more profitable relationships.

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CPA Practice

DECEMBER 14, 2023

A new study by top 15 accounting firm Moss Adams revealed that 69% of accountants believe artificial intelligence will enhance rather than eliminate jobs and has a positive impact on the accounting profession as a whole, driving productivity and business growth. “AI is here, and accountants are actively embracing the technology,” Bill Armstrong, chief innovation officer at Moss Adams, said in a statement.

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accountant accounted Account corporation tax 119

AccountingDepartment

DECEMBER 13, 2023

With a new year just around the corner, it's time for organizations to start thinking about their budgets for 2024 - if they haven't already. Effective budgeting and planning are critical to the success of any business. It helps in making smart financial decisions, optimizing resource allocation, and achieving business objectives.

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NetSuite accountant accounted Account 110

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

Finance

TaxConnex

DECEMBER 14, 2023

In sales tax calculation, you deal with the “hard” and the “less-hard.” Figuring out sales tax obligations for goods (aka, tangible personal property, or TPP) is the less-hard part; you merely have to bear in mind that every state that taxes TPP does it a little differently. Services, on the other hand, are the hard calculation. Not every state taxes services not every state taxes the same ones, and those that do tax services do so in a galaxy of ways.

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West Virginia Virginia Kentucky Minnesota 264

CPA Practice

DECEMBER 13, 2023

By Clement Feng. Like many other large legislative bills, the Inflation Reduction Act is filled with lots of taxpayer goodies that are hard to find unless you know where they are. Yet, in this case, identifying them is worth the time and effort since they can make a big difference in tax filings for eligible homeowners and business property owners. In fact, this particular legislation may help many more of your clients than CPAs realized when it was first passed in August 2022.

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Tax cpas income tax accounting and finance 105

Mark Lee

DECEMBER 12, 2023

Historically most clients stay with their accountant for many years. They generally move only when they feel their accountant doesn’t care enough about them, puts their fees up significantly or messes up. Of course there are also those clients who only ever wanted to go to the cheapest accountant around and move on whenever they think they can do better.

tax return 72

tax return Tax bookkeeping bookkeeping services 72

Insightful Accountant

DECEMBER 12, 2023

Intuit will initiate major reporting enhancements for QuickBooks Online and QuickBooks Online Advanced users starting December 15, 2023.

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quickbooks 105

Accounting Today

DECEMBER 14, 2023

The Institute of Management Accountants reported increased salaries and job opportunities for Certified Management Accountants as opposed to those without certifications.

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management accounting management accounts accountant accounted 80

TaxConnex

DECEMBER 12, 2023

Business truism has it that limited liability corporations and similar entities shield the personal property and assets of their owners and major shareholders from company bills and missteps. That’s true for many of the fiscal messes that can befall a company. But not for sales tax liability, where most states still maintain strong responsible party laws.

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Sales Tax Ohio Georgia 263

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

Technology

BurklandAssociates

DECEMBER 11, 2023

The IRS recently provided new interim guidance around expense categories, contract research, and foreign R&D activities. The post R&D Tax Credit and Section 174 Update for Startups appeared first on Burkland.

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Tax 162

Going Concern

DECEMBER 12, 2023

Mere hours ago, Wall Street Journal reported that EY is laying off “dozens of partners across all U.S. business” and not only in lower-demand service lines. As with most of the cuts we’ve seen this year, consulting is most affected with their partner ranks being trimmed by ten percent, four percent in strategy and transactions. Says WSJ , there will be cuts in audit and tax as well though they didn’t share numbers.

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audit accounting firms Tax accounted 133

Accounting Today

DECEMBER 11, 2023

The Treasury Department and the Internal Revenue Service expect to issue proposed regulations to address the application of the foreign tax credit and related rules and the dual consolidated loss rules to certain types of taxes described in the GloBE Model Rules.

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Tax 135

MyIRSRelief

DECEMBER 15, 2023

Top 10 Tax Planning Concepts for W-2 Earners As a W-2 earner, understanding tax planning concepts can help you maximize your tax savings and ensure you’re making the most of your income. Here are the top ten tax planning concepts you should know. 1. Understanding Your W-2 Form Your W-2 form is a crucial document that outlines your income and the taxes withheld from your paycheck.

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tax planning Tax Education income tax 130

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CPA Practice

DECEMBER 14, 2023

There are slight changes in the IRS-issued optional standard mileage rates for 2024, which are used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning on Jan. 1, 2024, the standard mileage rates for the use of a car, van, pickup truck, or panel trucks will be: 67 cents per mile driven for business use, an increase of 1.5 cents from 2023. 21 cents per mile driven for medical or moving purposes for qualified active-duty mem

Tax 129

Tax 129

Going Concern

DECEMBER 14, 2023

Actually RIP the entire four-part CPA exam. Tomorrow, December 15, 2023, is the last day anyone will ever sit for BEC before it shuffles off into examination heaven and takes written communication with it. That’s right, no more written communication on the CPA exam. Wyoming and Idaho were the states with the latest application deadline for BEC — November 15 — while most others cut off re-exam NTSs on November 12 and first-time NTSs on October 1.

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Wyoming Idaho CPA 122

Accounting Today

DECEMBER 13, 2023

The Financial Accounting Standards Board released its long-awaited accounting standards update to improve the accounting for and disclosure of certain cryptoassets.

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accounting standards financial accounting accounted Account 132

Withum

DECEMBER 14, 2023

On December 13, 2023, the Financial Accounting Standards Board (FASB) finalized Accounting Standards Update (ASU) 2023-08 “Accounting for and Disclosure of Crypto Assets”. The amendments in the expedited ASU aim to improve the reporting of crypto assets by requiring entities to present crypto assets at fair value instead of the previously used cost-less-impairment model.

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accounting standards accountant accounted Account 116

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

Finance

CPA Practice

DECEMBER 13, 2023

By Mike D’Avolio, CPA, JD. The Inflation Reduction Act of 2022 was signed into law on Aug. 16, 2022, providing numerous tax deductions and tax credits for individuals, families and businesses. New tax incentives were added, and existing tax incentives got extended and enhanced. This article covers two home energy tax credits for your individual clients to take advantage of by saving money on their tax returns and conserving energy to help out the environment.

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CPA tax return Tax Maine 122

Going Concern

DECEMBER 14, 2023

As always happens some time in December, KPMG has announced global revenue for the fiscal year now behind us: $36 billion USD for the fiscal year ending September 30, 2023, an increase of eight percent from FY22’s $34.6 billion (five percent in US currency). “The figures reflect robust year-on-year growth, bolstered by a multi-disciplinary approach that combines world-leading expertise and integrated capabilities,” says the press release we don’t care about.

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Legal audit Tax 119

Accounting Today

DECEMBER 13, 2023

The Internal Revenue Service has reorganized its leadership structure at the top, with a single deputy IRS commissioner instead of two, and four chief executives to lead taxpayer service, compliance, information technology and operations.

Technology 131

Technology income tax Tax 131

Withum

DECEMBER 15, 2023

It is no secret that the pandemic forced dealerships to pivot. Conventional operating procedures, strategies, inventory management, staffing, and numerous other standard practices had to change to combat reduced inventory, staffing shortages, and increased online competition. It is only recently that we are seeing a shift back to our former standards.

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Start-ups Manufacturing Sales Retail 115

Speaker: Joe Wroblewski, Senior Sales Engineer

Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!

Technology

CPA Practice

DECEMBER 15, 2023

Ask dozens of accounting professionals and most will agree that using accounting software is an important part of managing a business. Accounting software also simplifies tax preparation by identifying taxable income and deductions with ease. Not all small businesses are on board yet. While Codat’s Global Accounting Guide estimates that 64% of small businesses in the U.S. currently use accounting software in their business, leaving 35% of small businesses still using a manual accounting system

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accounting system small business accounting business accounting quickbooks 116

Going Concern

DECEMBER 13, 2023

Well it’s about that time, time for us to start s g out “best of” lists to cover for the fact that we’ve been phoning it in since mid-November (…of 2014). The stories below aren’t necessarily our best in the traditional sense nor were they strictly the most popular, they’re just my favorites for the year. Before I look back on what I think were the best posts (ranked arbitrarily by me), allow me to resurrect this post from January 7: Let’s Start the Year

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Minnesota CPA Start-ups Technology 113

Accounting Today

DECEMBER 15, 2023

The new deduction rates apply to electric and hybrid vehicles, as well.

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Tax 128

Withum

DECEMBER 14, 2023

Withum is proud to share that Accounting Today has once again named Jim Bourke , Managing Director of Advisory Services and Ed Mendlowitz , Emeritus Partner, on their annual Top 100 Influential People in Accounting. The Top 100 are chosen for their outstanding contributions to the industry, including their leadership, mentorship, and how they use their voice to promote and advocate for the profession.

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accountant accounted Account 111

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

Finance

CPA Practice

DECEMBER 11, 2023

By Leada Gore, al.com (TNS) The maximum contribution amount for employees participating in a flexible spending account will increase in 2024, according to the IRS. Starting in 2024, employees can contribute up to $3,200 tax-free to an FSA through payroll deduction, an increase of $150 from this year. The account can be used to pay for medical expenses not covered by other health plans—including copays, deductibles and a variety of medical products, as well as eye and dental care—and contributio

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income tax payroll Start-ups Tax 116

Going Concern

DECEMBER 12, 2023

In a move that’s being credited to both reducing carbon emissions and penny-pinching, FT is reporting that PwC UK has a new policy in place limiting business class work flights. Announced to senior staff in October, the new rule means partners and directors can choose business class tickets only for long red eye or “business-critical” flights and are otherwise expected to fly premium economy regardless of length of the flight.

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accounting firms accounted Account accountant 111

Accounting Today

DECEMBER 13, 2023

The International Federation of Accountants wants organizations to combine sustainability reporting with their existing internal control and governance frameworks.

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Government accounted Account accountant 128

Xero

DECEMBER 13, 2023

In the early 2000s, accessing the internet was through a dial-up connection which could take anywhere from 30 seconds to a couple of minutes to establish a connection. In 2023, generative AI tools can generate poems, short stories and complex legal and medical documents in a matter of seconds. The pace of technological change is accelerating and it’s reshaping just about every aspect of how we live, work, socialise and play.

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Technology accounting and finance Education Entertainment 110

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accounting and finance