Going Concern
DECEMBER 5, 2023
This explains so much. Researchers at the University of Bath have found that excessive optimism is actually associated with lower cognitive skills such as verbal fluency, fluid reasoning, numerical reasoning, and memory. People with higher cognitive ability (aka smarties) tend to be both more realistic and pessimistic in their expectations about the future.
CPA Practice
DECEMBER 3, 2023
Are you considering your own firm (or rebranding due to a merger or acquisition)? Here are several branding questions to answer and resources you will need before opening the front door. Branding Questions Addressing these questions can help you create a strong, distinct brand for your firm, setting a solid foundation for growth and client engagement.
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Airbase
DECEMBER 5, 2023
Business expense reports play a pivotal role in shaping the fiscal health and success of an enterprise. This blog explores the critical importance of these reports, delving into how they contribute to financial transparency, regulatory compliance, and the overall efficiency of business operations. As businesses navigate the complexities of modern finance, the role of expense reports is an integral component essential to informed decision-making and sustainable growth.
Insightful Accountant
DECEMBER 5, 2023
For accountants and their business clients, the goal this time of year is to end the year well and set a good foundation for the next. But year-end work is rarely simple, often messy, and certainly adds to the holiday hustle and bustle.
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.
Accounting Today
DECEMBER 4, 2023
The Internal Revenue Service needs to do a better job of keeping track of employees who are arrested by law enforcement and notifying their colleagues, according to a new report.
Canopy Accounting
DECEMBER 5, 2023
We’ve given you Halloween costume ideas and now you’ve come to us for another equally important fashion decision: an ugly Christmas sweater for any accountants in your life, including yourself. If your office is throwing a holiday work party (which, you totally should—it’s a great way to boost morale) then you’re going to need an outfit that will wow your colleagues and say “I’m an accountant, I’m festive, and I’m here to have fun!
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Xero
DECEMBER 6, 2023
The past year has been a bumpy ride for many. Most owners have been focused on maintaining cash flow, as they deal with the combination of rising costs and a limited capacity to lift their prices as customers become increasingly scarce. As 2024 approaches, it’s a good time for small business owners to think about business planning for the next 12 months.
Accounting Today
DECEMBER 5, 2023
The Internal Revenue Service crime unit that played a leading role in the Binance Holdings Ltd. probe is seeing a surge in cases involving crypto-related tax evasion.
ThomsonReuters
DECEMBER 6, 2023
The Employee Retention Credit (ERC) emerged as a lifeline for many companies during the COVID-19 pandemic, incentivizing them to retain their employees and navigate through the financial turmoil. However, while the ERC served as a valuable support mechanism, it has also raised concerns about abuse when it comes to accurate claims for the credit. James Creech, a senior manager with Baker Tilly’s tax advocacy and controversy team, explained that the origin of the current issues with the ERC
RogerRossmeisl
DECEMBER 3, 2023
In the midst of holiday parties and shopping for gifts, don’t forget to consider steps to cut the 2023 tax liability for your business. You still have time to take advantage of a few opportunities. Time deductions and income If your business operates on a cash basis, you can significantly affect your amount of taxable income by accelerating your deductions into 2023 and deferring income into 2024 (assuming you expect to be taxed at the same or a lower rate next year).
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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.
TaxConnex
DECEMBER 5, 2023
Clubs and dues have been around for decades, but the rise of certain memberships – and the ability to sell them over the internet – have also raised the question of whether memberships incur sales tax. Ecommerce can involve many different types of memberships, often offering access to discounts or other benefits perceived as exclusive. Gym and fitness chains and warehouse retailers, for example, use the internet to sell memberships to their franchised businesses all over the country.
BurklandAssociates
DECEMBER 7, 2023
Startups are saturated with information on how to best budget and forecast for the year ahead. Founders are asking questions, but they’re not asking all the questions. Negative supposition about Read More The post 2024 Predictions for Startups to Plan and Prepare for Now appeared first on Burkland.
Accounting Today
DECEMBER 4, 2023
The five S&P 100 companies with the highest overall tax rates paid an average of 43.32% in 2022.
RogerRossmeisl
DECEMBER 3, 2023
If you have a tax-saving flexible spending account (FSA) with your employer to help pay for health or dependent care expenses, there’s an important date coming up. You may have to use the money in the account by year-end or you’ll lose it (unless your employer has a grace period). As the end of 2023 gets closer, here are some rules and reminders to keep in mind.
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.
TaxConnex
DECEMBER 7, 2023
There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Well into the black: Black Friday 2023 e-commerce spending jumped 7.5% from a year earlier to a record $9.8 billion in the U.S., according to a Adobe Analytics report cited by news sources. Americans spent $12.4 billion on Cyber Monday, news reports added, saying overall spending increased 9.6% from a year ago, making it the biggest online shopping day ever.
Airbase
DECEMBER 6, 2023
From controlling costs to ensuring compliance, the procurement function is crucial to an organization’s financial health. But despite procurement’s importance, many companies struggle to implement processes with the right balance between control and efficiency. This balance is especially challenging for companies who don’t have a dedicated procurement team, but still need strong control over and clear visibility into all spending.
Accounting Today
DECEMBER 7, 2023
Nearly one-third of public companies are using artificial intelligence in their financial reporting, according to a new survey.
Withum
DECEMBER 8, 2023
The Internal Revenue Service (IRS) is continuing its crack down on dubious claims for the employee retention credit (ERC), a refundable tax credit for certain businesses that paid employees during the COVID-19 pandemic. On December 6, 2023, the IRS issued a press release announcing that it would be sending more than 20,000 letters to taxpayers notifying them of disallowed ERC claims, either because their entities did not exist during the ERC eligibility period or because they did not have employ
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.
CPA Practice
DECEMBER 7, 2023
By Alec Regimbal, SFGate, San Francisco (TNS) The IRS has no plans to send a fourth round of stimulus checks, despite claims made in a series of widely-shared social media posts. The Facebook posts, which began appearing last month, generally repeat the same false information. They claim a fourth round of stimulus checks, with payments ranging from a few hundred dollars and a few thousand dollars, will be sent to residents of 10 states starting Nov. 30.
Going Concern
DECEMBER 6, 2023
TLDR summary of this article from ChatGPT: Big 4 accounting firms introduced paternity leave in 2006, but a recent study finds that many fathers, especially in high-pressure environments like audit firms, hesitate to take advantage of it. The study, based on interviews with 13 men in French audit firms, reveals that fathers view leaves as incompatible with their professional commitments and perceive less support compared to mothers.
Accounting Today
DECEMBER 6, 2023
The Internal Revenue Service is continuing to combat scammers and promoters encouraging businesses to file claims for the pandemic tax credit.
Withum
DECEMBER 7, 2023
On November 28, 2023, the Tax Court ruled that the exception from self-employment tax for limited partners does not apply to limited partners who actively participate in the partnership’s business operations. The court engaged in a “functional inquiry into the roles and activities” of the limited partners. It concluded that their level of participation was inconsistent with an exception from self-employment tax.
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.
ThomsonReuters
DECEMBER 8, 2023
As technology has evolved, so too has the accounting profession. From paper-based processes to cloud-based software, accountants are no strangers to change. No previous advancement, however, has had the potential to alter accounting (and many other industries) quite like generative artificial intelligence. But for those who embrace AI, there is a strategic opportunity to capitalize on its many benefits while protecting and even uplifting the irreplaceable human connection.
Going Concern
DECEMBER 7, 2023
Well it was nice while it lasted. According to the the fourth-quarter AICPA & CIMA Economic Outlook Survey, inflation has once again taken the top spot for things that keep CFOs, CEOs, and controllers with CPA after their names up at night. Last quarter the big concern was talent , that sure has changed for this quarter: Twelve percent of business executives said they had too many employees , up four percentage points from last quarter.
Accounting Today
DECEMBER 7, 2023
Municipal bond investors and government regulators could benefit from easier access to consistent, machine-readable financial data from government bond issuers.
Withum
DECEMBER 6, 2023
In this episode of Cryptonomix, Mark Eckerle and Matthew Walsh, Founding Partner at Castle Island Ventures, cover the developments in the crypto space over the past year, Castle Island's investment preferences, valuable insights for other venture capital firms, best practices for companies seeking financing, and a preview of the upcoming year.
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
Insightful Accountant
DECEMBER 5, 2023
The Accruer App uniquely solves QuickBooks accruals and automates prepaid expenses, deferred revenues and fixed assets directly in QuickBooks Online.
Going Concern
DECEMBER 7, 2023
Tip time! CohnReznick’s network is apparently contaminated and the firm has warned employees not to connect to it in the office under any circumstances (in red text and caps no less). In fact, they’ve told people to stay home just to be safe. Tip: All offices are working remotely with severely limited access to normal functions and systems.
Accounting Today
DECEMBER 4, 2023
The Internal Revenue Service's Criminal Investigation unit identified $37.1 billion in tax and financial crimes in fiscal year 2023, exceeding the previous year.
Accounting Insight
DECEMBER 4, 2023
Lydia founded BookSmart Accounting at the start of 2021 and has grown the business to a team of five with 200+ SME clients. Before starting her own company Lydia had worked in accountancy practice and finance roles in industry for over 15 years. We caught up with the trail-blazer herself… How did you get into the profession? I was temping through an agency at 18, they moved me from an admin role to a finance team and I fell in love with the work.
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