Sat.Feb 10, 2024 - Fri.Feb 16, 2024

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How accountants can make remote work work

Accounting Today

With almost 13% of full-time employees working remotely, and 28.2% in a hybrid arrangement, accounting firms are coming to see the importance of adapting to the new working environment.

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Creating ‘No Touch’ Tax Returns

Insightful Accountant

No touch tax returns are the way of the future, or the present depending on who you ask. In either case, firms need to be jumping on the bandwagon.

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How Do Outsourced Accounting Services Work?

GrowthForceBlog

8 min read Outsourcing is the practice of hiring a third-party provider to manage any aspect of a business. Of course, the most popular business functions to outsource are those that are not directly related to the core function of your business but that are still absolutely necessary for its operation.

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Strengthen Your Bottom Line: Manufacturing Cost Management Explained

AccountingDepartment

In the fast-paced world of manufacturing, where efficiency and innovation reign, understanding and managing costs are paramount to success. Cost management isn't a mere back-office function; it's what ensures your products remain competitive, your operations sustainable, and your company profitable.

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

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.

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Tax Strategy: House passes popular tax changes

Accounting Today

While passage in the Senate is uncertain, many of the changes could impact 2023 tax returns.

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4 Ways Outsourced Accounting Helps Non-Profits Deal with Multi-level Government Regulations

LSLCPAs

Your Mission As a non-profit, your primary goal is to provide services that contribute to the betterment of society through a variety of different ways, such as charitable and philanthropic work, or advocacy and awareness. Your entity might be a charitable organization, a public charity, or a private foundation. Whether you are a 501(C)(3),(4), (6), or something.

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What I Love About Accounting

Withum

There is no better time to share what I love about public accounting than on Valentine’s Day. Following is a list of 14 things I love about public accounting. 14 Reasons Why I Love Public Accounting I love tax season. What profession can you get to interact with every client you have, get updated on their goings on, share their dreams and goals (since most of these have a financial element) and also get paid for it?

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IRS Updates FAQs For Premium Tax Credit

CPA Practice

The IRS released a fact sheet on Feb. 9 that includes updated frequently asked questions (FAQs) about the Premium Tax Credit. The Affordable Care Act’s refundable Premium Tax Credit was created to help lower- and middle-income Americans pay for health insurance purchased through the healthcare marketplace ( HealthCare.gov ). Health insurance can also be purchased through some state exchanges.

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Cybersecurity for CPAs: Don't get complacent

Accounting Today

In this month's Cybersecurity for CPAs, a firm takes steps to make sure people still follow the safety rules they instituted during work for home.

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The Current State of Managing Sales Tax Obligations

TaxConnex

To help financial leaders better understand what their peers are doing when it comes to sales and use tax in 2024, TaxConnex® conducted its fourth annual sales tax survey in November of 2023. More than 100 financial leaders from different industries and from a wide range of sizes responded. Their responses are included in the following blog. For the vast majority of organizations, managing the minutia of sales tax obligations can be described as clunky, cumbersome, and risky, with each state hav

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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Does Your Business Have Employees Who Get Tips? You May Qualify for a Tax Credit

RogerRossmeisl

If you’re an employer with a business where tipping is routine when providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income. Credit fundamentals The FICA credit applies to tips that your staff members receive from customers when they buy food and beverages.

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Startups Can Make Money Doing Nothing (and Minimize the Impact of Financial Meltdowns)

BurklandAssociates

A few proactive, off-the-radar strategies can provide even more protection and actually make a startup money on its spare cash. The post Startups Can Make Money Doing Nothing (and Minimize the Impact of Financial Meltdowns) appeared first on Burkland.

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IRS commits to making Child Tax Credit changes quickly

Accounting Today

The Internal Revenue Service would be able to implement changes to the Child Tax Credit within weeks, IRS Commissioner Danny Werfel told Congress, and send out tax refunds promptly.

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Voting Opens for 2024 Readers’ Choice Awards

CPA Practice

Voting in the 2024 Readers’ Choice Awards is now open. The CPA Practice Advisor Readers’ Choice Awards give our readers the opportunity to spotlight the technologies they most rely on and trust to manage their firms, provide client services, and help those clients run their businesses. From online tax and accounting systems, practice management, document automation and workflow tools, to apps for collaboration, mobile productivity and research.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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Timing Counts When Valuing a Business

RogerRossmeisl

In today’s uncertain markets, the value of a business may change significantly over time. So it’s important to choose the valuation date carefully. Often, the date is prescribed by law or a judge. But sometimes attorneys or others, such as the executor in an estate valuation, are allowed to decide between different dates. A fundamental decision The valuation date serves as a cutoff for the information that can be used to estimate value.

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Harvesting Tax Losses

Withum

Tax loss harvesting is an income tax planning strategy that involves selling investments at a loss with the intent to offset capital gain income. This strategy is beneficial to taxpayers who have large capital gain income and are seeking ways to lower their related income tax liability. It is important to note that any tax harvesting must be implemented prior to the end of the applicable tax year, which is December 31 st for individual taxpayers.

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Gloom or boom? Tax pros differ on AI

Accounting Today

Whether they're enthusiastic or terrified, tax practitioners are anything but indifferent to the rise of artificial intelligence.

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New Jersey Weighs In on the Usefulness of 150 Hours

Going Concern

The 150-hour rule debate rages on, hope you’re not sick of talking about it. INSIDE Public Accounting has shared key takeaways from a recent survey of 1,060 members of the New Jersey Society of CPAs (NJCPA) that aimed to get members’ view on the 150-hour rule. Those takeaways are: More than 40% of those surveyed said that new hires working in accounting-related roles who had not completed 150 credit hours “rarely” or “never” pursue CPA certification.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Tax-Favored Qualified Small Business Corporation Status Could Help Your Thrive

RogerRossmeisl

Operating your small business as a Qualified Small Business Corporation (QSBC) could be a tax-wise idea. Tax-free treatment for eligible stock gains QSBCs are the same as garden-variety C corporations for tax and legal purposes — except QSBC shareholders are potentially eligible to exclude from federal income tax 100% of their stock sale gains. That translates into a 0% federal income tax rate on QSBC stock sale profits!

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Several Taxpayer Assistance Centers to Have Saturday Hours, IRS Says

CPA Practice

Not only has the IRS extended weekly office hours at nearly 250 taxpayer assistance centers throughout the country this filing season, but several of those sites will have special Saturday hours beginning next weekend. The special Saturday openings will take place from 9 a.m. to 4 p.m. on Feb. 24, March 16, April 13, and May 18. Offices in dozens of states, the District of Columbia, and Puerto Rico will be open during this special four-month event, with no appointments required.

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5 IRS developments to watch this tax season

Accounting Today

New technology systems and the addition of cryptocurrency on tax forms are just some of the IRS developments to watch in 2024.

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Is PwC Cooking Up Another Big Rebranding?

Going Concern

TLDR: PwC has engaged McCann as global creative agency, their current logo is 14 years old, and the tax scandal that originated at PwC Australia has done real damage to the PwC brand worldwide. Plus they like debuting new logos when the economy sucks. There might be a new face of PwC on the horizon. Ad Age reported earlier this month that PwC has appointed Interpublic Group of Cos.

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

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The Kiddie Tax Could Affect Your Children Until They’re Young Adults

RogerRossmeisl

The so-called “kiddie tax” can cause some of a child’s unearned income to be taxed at the parent’s higher marginal federal income tax rates instead of at the usually much lower rates that a child would otherwise pay. For purposes of this federal income tax provision, a “child” can be up to 23 years old. So, the kiddie tax can potentially affect young adults as well as kids.

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Anders Technology Makes CRN’s MSP 500 List for 2024

Anders CPA

Anders Technology, a service line of Anders CPAs + Advisors, is proud to be recognized on CRN’s Managed Service Provider (MSP) 500 list in the Pioneer 250 category for 2024. The annual MSP 500 list acknowledges the leading solution providers in North America whose innovative approaches to providing managed services are changing the landscape of the IT channel with groundbreaking solutions while helping end users improve operational efficiencies and maximize their return on investment.

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Automation is driving the future of accounting

Accounting Today

But the more you automate, the more human you have to be.

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80% of Employers Plan to Increase Investment in Workforce Development

CPA Practice

More than 80% of businesses are currently planning to increase overall investment in workforce development in 2024, according to a new survey from RGP, a global consulting firm. The survey explored the key market factors that are shaping workforce investment decisions for U.S. businesses in the year ahead. “There’s a lot of work out there, but the lingering labor market imbalance is causing employers to embrace new ways of finding the skills they need, and our latest research validates this shif

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AP Automation: The Competitive Advantage Your Business Needs

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 technology to drive productivity and cost savings. So, how do you make the case for automation within your organization?

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Let’s Learn More About Epilepsy

Withum

Explore Other Episodes #CivicWarriors #WithumImpact The post Let’s Learn More About Epilepsy appeared first on Withum.

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Oxford Study Finds Workplace Wellness Programs Do Diddly Squat For Mental Health

Going Concern

In “Employee well-being outcomes from individual-level mental health interventions: Cross-sectional evidence from the United Kingdom” published in Industrial Relations Journal , wellbeing enthusiast and researcher Dr. William Fleming has found that wellness programs in the workplace don’t actually improve employee wellbeing. Which confirms what we’ve all known for a while now, these programs are a mostly performative gesture to make leadership feel better about themselves

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Is your firm ready to stay independent?

Accounting Today

With so many options on the table, firms need advice on what to do if they want to remain independent.

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Why Businesses with High Capex Should Delay Filing Their Tax Returns This Year

CPA Practice

By Ali Donaldson, Inc. (TNS) This tax season, some entrepreneurs may want to hold off on filing their returns. Thank Congress for that. The bipartisan tax agreement , which was first unveiled last month, is now making its way through Capitol Hill. In a rare moment of legislative success for the House, the $79 billion package passed by an overwhelming vote of 357 to 70.

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

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.