Accounting Today

APRIL 9, 2024

A recent poll of U.S. and U.K. accountants has found that 59% say they use AI at work, and through AI have saved about 30 hours a week.

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Insightful Accountant

APRIL 10, 2024

Accounting profession faces staffing shortages due to fewer graduates and an aging workforce. 42% of firms turn away work, 24% near burnout. First-time CPA exam candidates dropped by 33% from 2016 to 2021.

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Account accounted accountant CPA 105

CPA Practice

APRIL 9, 2024

By Irana Wasti. The adoption of a new product or technology tends to follow a familiar cycle. First, there is skepticism about whether it will live up to the hype. A few proven use cases later, people are talking about whether it will enhance or upend their professional lives. Before we reach the final stage where the technology is widely adopted, we pass through a period of uncertainty, where we wonder if this technology will be too helpful — to the point of being a threat to job security.

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Technology Account accounted accountant 119

Insightful Accountant

APRIL 8, 2024

Amid COVID-19, US relief programs like PPP and unemployment aid were exploited by fraudsters, resulting in $80B stolen from PPP and $90-400B from unemployment relief. This fraud may rival $579B for Biden's infrastructure plan.

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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

Ryan Lazanis

APRIL 10, 2024

Dive into the world of offshore accounting: Discover benefits, challenges, and best practices in this comprehensive guide. The post Offshore Accounting: Everything You Need to Know appeared first on Future Firm.

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Account accounted accountant 52

Canopy Accounting

APRIL 10, 2024

For the accounting firm focused on maximizing profit and efficiency, antiquated practice management solutions that only meet a few needs are no longer sufficient for accounting firms. Having an operating system that seamlessly connects all processes within an accounting firm is crucial for maximizing efficiency and providing a superior client experience.

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accounting firms Account accountant accounted 52

Accounting Today

APRIL 9, 2024

At 90,315,000, the number of individual returns received this tax season finally surpassed the same period last year, up 0.2% as of March 29, 2024.

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Tax 137

CPA Practice

APRIL 9, 2024

By Nellie Akalp. As accountants and CPAs, dealing with payroll taxes is essential to managing finances for your business clients. Understanding the details of payroll taxes helps you better assist your clients in fulfilling their obligations and maximizing tax efficiency. The ever-changing complexities of payroll taxes can often seem overwhelming, especially for business owners, so we’ve compiled an easy guide you can share with them.

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payroll tax West Virginia payroll cpas 110

TaxConnex

APRIL 9, 2024

The common definition of dietary supplements and vitamins is a non-food item that includes a vitamin, mineral, herb, botanical, amino acid or dietary substance. For purposes of incurring sales tax in any state, that essentially translates into “sometimes.” Sometimes a state considers supplements and vitamins as drugs, groceries or food. Sometimes these products are taxable tangible personal property, sometimes not.

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Sales West Virginia Tax Virginia 264

Withum

APRIL 10, 2024

In a recent development that underscores the dynamic landscape of Artificial Intelligence (AI) within government, the U.S. House has blocked the utilization of Microsoft’s Copilot by its staff, representing a noteworthy chapter in the ongoing narrative of AI’s journey through the hype cycle. Just as AI approaches the summit of the Peak of Inflated Expectations, there emerges a concerted effort, notably from the media, to hasten its descent into the Trough of Disillusionment.

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Government 131

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Technology

Accounting Today

APRIL 12, 2024

Some of our favorite CPAs of the silver and small screen.

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cpas Account accounted accountant 138

MyIRSRelief

APRIL 12, 2024

Tax debt can be a significant burden, causing stress and financial strain for many individuals. However, there are several avenues for tax relief available to those who owe the IRS. This comprehensive guide will explore the options for obtaining tax relief, aiming to provide clarity and hope to those grappling with tax debt concerns. Get professional representation today!

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Tax tax return Government accounted 130

BurklandAssociates

APRIL 9, 2024

HR recordkeeping is one of the last things most startup founders want to think about, but non-compliance can lead to major fines, reputation damage, and due diligence pitfalls. The post Navigating HR Compliance: Recordkeeping Essentials for Startups appeared first on Burkland.

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Going Concern

APRIL 9, 2024

The annual 100 Best Companies to Work For list from Fortune and Great Place To Work® is out and once again a lil firm from Michigan has the honor of being best-er than the accounting firms that follow it. Everyone, let’s congratulate Plante Moran for another impressive showing and coming in 12th on the 2024 list. This year, they only narrowly beat out Deloitte again.

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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

Accounting Today

APRIL 11, 2024

From BOI reporting to tax legislation in limbo, even the most 'normal' filing season in a several years still has unresolved questions.

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CPA Practice

APRIL 9, 2024

In an email to tax professionals on April 5, the IRS said it’s making changes that will impact how practitioners obtain a client’s tax transcripts, as part of the agency’s efforts to combat identity theft and protect taxpayers’ personal information. Starting April 8, tax professionals must now call the Practitioner Priority Service (PPS) to request transcripts to be deposited into their Secure Object Repository (SOR).

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Tax accountant accounted Account 122

Withum

APRIL 12, 2024

Withum Soars on Vault Top Accounting Firm List Vault named Withum #17 on their annual top 25 accounting list. Known for its influential ranking, Vault recognized Withum for their outstanding training programs, benefits and compensation. Over the years, the Vault survey has consistently shown that Withum Team Members accept positions and remain at the Firm for the unbeatable culture and outstanding colleagues.

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top accounting firms accounting firms accounting internships Account 111

Going Concern

APRIL 9, 2024

I think I have something interesting for you today. Fresh academic research has found that audit seniors are more likely to offer better constructive feedback and coaching to their juniors via review comments if the seniors think they’ll be working with that staff again. The paper “ Coaching Today’s Auditors: What Causes Reviewers to Adopt a More Developmental Approach?

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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

Accounting Today

APRIL 11, 2024

The Institute of Management Accountants is examining the possibilities of artificial intelligence in the accounting profession while undergoing staff cutbacks.

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CPA Practice

APRIL 8, 2024

With the increasing complexity of tax laws and regulations, tax professionals are constantly facing challenges in keeping up with the ever-changing landscape. CPA Pilot ‘s AI tax assistant leverages advanced algorithms to analyze data and offer precise insights quickly. This enables tax professionals to prioritize strategic tasks. CPA Pilot allows tax experts to focus on strategic and value add tasks for their clients and reduce the intensity of tax season.

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Withum

APRIL 9, 2024

Withum is proud to announce that Chris has earned a spot on the Inside The Valley’s list for the second consecutive year. Chris is Partner-in-Charge of Withum’s Los Angeles office and has over 24 years of experience in the industry specializing in assurance and business consulting services to emerging and middle-market companies. As a prominent networker and influencer, Chris reaches a broad professional audience through his work as the Social Media CPA and as an active member of ProVisors and t

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Going Concern

APRIL 7, 2024

The irony of me writing and publishing this on a Sunday. On April Fools’ Day, California Assemblymember Matt Haney announced he’s introduced AB 2751 , a proposal that “guarantees California workers uninterrupted personal and family time by creating a ‘right-to-disconnect’ from emails, texts, and calls after work hours.” His office’s statement explains : The bill mandates that all California employers create and publish company-wide action plans to implem

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California Legal 115

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

Accounting Today

APRIL 10, 2024

The board imposed its largest-ever penalty of $25 million against KPMG's firm in the Netherlands, in addition to $2 million in fines against Deloitte's firms in Indonesia and the Philippines.

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audit accountant accounted Account 128

CPA Practice

APRIL 9, 2024

By Oren Koren Tax season is underway, which means cyber criminals are hard at work. With the plethora of highly sensitive personal and financial data being shared between firms and clients, it’s the perfect time for bad actors to strike, especially as the April 15th deadline inches closer and CPAs push to get more done with less time. With an increase in activity from all sides – both to citizens who are filing taxes as well as CPAs looking for new clients – it’s critically important to underst

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cpas Tax cpa firm tax return 118

Cherry Bekaert

APRIL 9, 2024

On campuses around the country, the name, image and likeness (NIL) policy is revolutionizing the way student-athletes can obtain benefits while attending a college or university. As of July 2021, student-athletes can enter NIL deals if they comply with state law and the NCAA’s rules. Essentially, NIL allows college athletes to monetize their personal brand by profiting from their name, image and likeness through various opportunities such as endorsements, sponsorships, social media posts and mor

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Going Concern

APRIL 12, 2024

In a renewed effort to appear to be doing something of value, the PCAOB was busy this week handing down hand slaps and fines for the crime of sharing answers on internal training. We were a bit too focused on KPMG Netherlands receiving the biggest fine the PCAOB has ever given out ($25 million) to mention that Deloitte Philippines and Deloitte Indonesia had fines of their own announced the same day.

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audit auditor Education 108

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

Accounting Today

APRIL 10, 2024

Plus, Google is making massive changes to Chrome, AI-powered tax chatbots aren't performing well, and seven other things that happened in technology this past month.

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CPA Practice

APRIL 11, 2024

The Justice Department is advising taxpayers to choose their return preparers wisely as the April 15 federal tax filing deadline approaches. Unscrupulous preparers who include errors or false information on a tax return could leave a taxpayer open to liability for unpaid taxes, penalties and interest. “Taxpayers must look out for unscrupulous preparers, who often will promise refunds that are too good to be true,” said Deputy Assistant Attorney General David A.

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tax return Tax tax preparation Florida 116

Cherry Bekaert

APRIL 8, 2024

Today’s technologies are continuously evolving, and Tableau’s software from Salesforce is transforming how organizations optimize their data using cloud capabilities and the power of artificial intelligence (AI). Advancements to Tableau will be on full display at the Tableau Conference 2024, and Cherry Bekaert is thrilled to announce its sponsorship of this highly anticipated event on April 29 – May 1 at the San Diego Convention Center.

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Technology cpa firm Sales audit 109

Going Concern

APRIL 12, 2024

Footnotes is a collection of stories from around the accounting profession curated by actual humans and published every Friday at 5pm Eastern. While you’re here, subscribe to our newsletter to get the week’s top stories in your inbox every Tuesday and Friday. Comments are closed on Friday Footnotes and the Monday Morning Accounting News Brief by default.

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CPA auditor Tax audit 105

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