SMBAccountant

MARCH 6, 2024

Accounting operates within its own language, a system of terms and conventions that serve as the backbone of financial communication and analysis. Understanding this unique language is essential for interpreting financial data, making informed decisions, and effectively navigating the intricate world of business finance. Cash vs. Accrual Accounting Cash accounting records transactions only when cash changes hands, providing a real-time view of cash flow.

accrual accounting 130

accrual accounting accounts payable Account accounted 130

TaxConnex

MARCH 5, 2024

The non-fungible token (NFT) remains a sizzling commodity. These digitized assets denote ownership of such collectibles as sports cards and artwork, even designer digital footwear. Two signs of the size of the sizzle: The online NFT platform OpenSea claims to be worth more than $13 billion. Some NFTs alone on OpenSea have sold for millions and in recent years the average sales price of an NFT (an admittedly volatile commodity) jumped from about $150 to $4,000.

Sales 147

Sales Tax Wisconsin Minnesota 147

CPA Practice

MARCH 4, 2024

By Jo Constantz, Bloomberg News (TNS) Mistakes continued to pile up this earnings season in the wake of Lyft Inc.’s market-roiling typo : Planet Fitness Inc., Mister Car Wash Inc. and Rivian Automotive Inc. all had to correct their quarterly earnings statements. These types of errors shake investor confidence and in extreme cases can result in heavy fines from the U.S.

Account 78

Account accounted accountant cpas 78

RogerRossmeisl

MARCH 5, 2024

The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to certain eligible small businesses. Claiming the credit involves complex calculations, which we’ll take care of for you. But in addition to the credit itself, be aware that there are two additional features that are especially favorable to small businesses: Eligible small businesses ($50 million or less in gross receipts for the three prior tax ye

payroll tax 117

payroll tax payroll Tax CPA 117

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

Insightful Accountant

MARCH 5, 2024

Ashleigh Sutter explores the challenges of transitioning from bookkeeping to tax, offering insights on starting, gaining alignment, executing, and maintaining employee engagement during change.

bookkeeping 105

bookkeeping Tax 105

Accounting Today

MARCH 4, 2024

When someone leaves, they need to be replaced and with that comes orientation, training, introduction to your systems and procedures and to your culture.

Account 131

Account accounted accountant 131

LSLCPAs

MARCH 5, 2024

Our 2016 post on Accounts Receivable Fraud might seem “outdated” in the tech-heavy 2024 AI-assisted receivables world, but the principles are the same deep down: fraud happens. The bigger problem today is that all this technology makes the money disappear quicker and sometimes, harder to track and hidden more thoroughly. In response, you and your. The post Accounts Receivable Fraud: How to Stay One Step Ahead in 2024 appeared first on LSL CPAs.

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Account accounted accountant cpas 59

CPA Practice

MARCH 4, 2024

Breaking news: Accountants aren’t robots—they’re human beings and sometimes they make mistakes at work. But a new survey from research and consulting firm Gartner finds that capacity constraints are the leading factor to more errors being made than usual in accounting and finance departments. The survey of 497 professionals working in the controllership function, conducted last July, revealed that 18% of accountants said they make financial errors at least daily, with a third making at least a f

Account 64

Account accounted accountant accounting and finance 64

Insightful Accountant

MARCH 6, 2024

Last week our calendars all marked a unique day that only comes about once every four years. Leap Day, February 29th, this day intends to sync the calendar with the solar year. It still has its affects tax planning, so discuss with clients.

audit 105

audit tax planning Tax 105

BurklandAssociates

MARCH 5, 2024

From what to look for when hiring a Fractional CFO to when to make the hire, this article answers eight top questions we hear from startup founders. The post Hiring a Fractional CFO for Your Startup – Answers to Common Questions appeared first on Burkland.

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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

RogerRossmeisl

MARCH 5, 2024

With the high cost of college, many parents begin saving with 529 plans when their children are babies. Contributions to these plans aren’t tax deductible, but they grow tax deferred. Earnings used to pay qualified education expenses can be withdrawn tax-free. However, earnings used for other purposes may be subject to income tax plus a 10% penalty.

income tax 148

income tax Education CPA Tax 148

Accounting Today

MARCH 7, 2024

Four states have no state and local sales taxes, making them the most attractive places for consumers to go shopping.

Sales 140

Sales Tax 140

Withum

MARCH 2, 2024

In a surprise decision Friday night, a federal district court ruled that the Corporate Transparency Act (“CTA”) is unconstitutional, effectively placing the Beneficial Ownership Information (BOI) reporting on hold. By way of background, the CTA was enacted on January 1, 2021 as part of the 2021 National Defense Authorization Act as an attempt to prevent money laundering and tax evasion by requiring new reporting for certain companies doing business in the US.

Ohio 140

Ohio Non-Profits tax services Tax 140

CPA Practice

MARCH 7, 2024

By Leada Gore, al.com (TNS) The IRS has a warning that expenditures for general health and wellness aren’t considered medical expenses, regardless of some advertising claims to the contrary. In a bulletin issued “amid concerns about people being misled,” the IRS said personal expenses—things like food and general wellness purchases—are not deductible or reimbursable under health flexible spending or reimbursement arrangements, health savings accounts, or medical savings accounts.

Tax 124

Tax Account accounted accountant 124

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

RogerRossmeisl

MARCH 5, 2024

Business valuators sometimes consider major events that happen after the valuation date. For example, what if a business is subsequently sold, files for bankruptcy, discovers new technological advances, or experiences a major fraud loss, data breach or natural catastrophe? Such events could potentially affect a business’s fair market value, but whether a valuator will consider a particular event depends on the facts and circumstances of the valuation assignment.

CPA 145

CPA Tax Technology 145

Accounting Today

MARCH 5, 2024

The 25 accounting practices with the highest revenue growth in percentage terms in 2023 from Accounting Today's Top 100 and Regional Leaders list.

Account 138

Account accountant accounted 138

Withum

MARCH 7, 2024

There is a lot going on with the employee retention credit (ERC) these days and it can be hard to keep up with the latest developments. From Congressional proposals to changes in IRS procedures, change is afoot and more is expected in the near future. Below is a summary of the latest thoughts on various issues that are of interest to those who have already claimed the ERC or are about to claim the ERC.

Tax 126

Tax income tax tax return audit 126

CPA Practice

MARCH 5, 2024

Technical skills and a meticulous eye for detail have always been the bedrock of the accounting profession. Yet, amid the focus on balance sheets and financial analytics, there’s a vital element that’s often overlooked—Emotional Intelligence (EI). As we venture through the evolving landscape of modern business, the ability to adeptly navigate our own emotions and those of others has become indispensable for accountants looking to elevate their service beyond the numbers.

Account 124

Account accounted accountant Education 124

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

RogerRossmeisl

MARCH 5, 2024

If you want to withdraw cash from your closely held corporation at a low tax cost, the easiest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax efficient since it’s taxable to you to the extent of your corporation’s “earnings and profits,” but it’s not deductible by the corporation. 5 different approaches Thankfully, there are some alternative methods that may allow you to withdraw cash from a corporation while avoiding dividend treatment.

Tax 141

Tax CPA business tax 141

Accounting Today

MARCH 6, 2024

Watch the explosion in the number of CPA firms bringing in over $1 billion in revenue that has occurred in the 21st century.

cpa firm 137

cpa firm CPA 137

Withum

MARCH 5, 2024

In this episode of Cryptonomix, Mark Eckerle sits down with Seth Priebatsch, President at Groma, a full-service real estate development and management firm with a blockchain twist.

Real Estate 126

Real Estate 126

Going Concern

MARCH 7, 2024

Per The Telegraph , Big 4 firms across the pond are now “banning” applicants from using ChatGPT and its equivalents to help with applications because they’re afraid AI tools “will help them cheat the system.” The irony. Big Four accountants have warned applicants not to use AI to complete applications or online assessments during the hiring process.

accounting firms 121

accounting firms Technology accounted Account 121

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

RogerRossmeisl

MARCH 5, 2024

If you operate your business in multiple locations (as with retail or restaurant chains), you face some extraordinary fraud-prevention challenges. After all, you can’t be everywhere at once. And the more locations you operate, the harder they are to monitor. Without the appropriate checks and balances in place, fraud losses in one store could threaten the health of your entire company.

CPA 125

CPA Retail 125

Accounting Today

MARCH 5, 2024

An Alabama federal district court held that the Corporate Transparency Act is unconstitutional, stating it "exceeds the Constitution's limits on Congress' power.

Alabama 137

Alabama tax accountant accountant accounted 137

CPA Practice

MARCH 4, 2024

By Venus Wu and Crystal Li. In October 2023, California became the first state to pass regulations for reporting greenhouse gas emissions (GHGs). The regulations are outlined in two bills, the Climate Corporate Data Accountability Act (SB-253) and the Climate-Related Financial Risk Act (SB-261). These laws apply for both private and public U.S. companies that do business in California (not just those with a physical presence in California).

California 119

California accounting and finance Government Finance 119

Anders CPA

MARCH 5, 2024

The Corporate Transparency Act (CTA) has been declared unconstitutional, putting the newly finalized law in jeopardy. Beneficial Ownership Information (BOI) reporting requirements directing closely held businesses to submit personal details about the beneficial owners to the Financial Crimes Enforcement Network (FinCEN) are now in limbo as the government prepares its response to the ruling.

Alabama 111

Alabama Legal Government CPA 111

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

RogerRossmeisl

MARCH 5, 2024

Business bankruptcies increased 40.4%, from 13,481 to 18,926, from 2022 to 2023, according to statistics released by the Administrative Office of the U.S. Courts. Solvency opinions may help creditors determine whether a liquidating debtor can meet repayment obligations. They also may come into play in fraudulent conveyance, bankruptcy alter ego and due diligence actions.

CPA 124

CPA 124

Accounting Today

MARCH 4, 2024

A roundup of the flood of sanctions, fines and penalties issued over the past year or so by the PCAOB.

auditor 134

auditor audit 134

CPA Practice

MARCH 5, 2024

A new survey by business accounting and management software maker BILL shows that small and mid-sized businesses believe innovative technology such as AI and automation are beneficial capabilities for their financial operations. The BILL 2024 State of Financial Automation Report shows they are looking to AI and automation to help them increase efficiency and empower them to redeploy staff to more strategic tasks that can foster innovation and growth.

Technology 115

Technology accounting and finance Expense Management Finance 115

Insightful Accountant

MARCH 4, 2024

We are excited to announce the members of Insightful Accountant’s inaugural Advisor Panel. The primary purpose of the panel is to help us stay “in touch” with the audience we serve and to continue to provide the content you, our audience, want.

Account 111

Account accounted accountant 111

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