BurklandAssociates
APRIL 30, 2024
Accountants and fractional CFOs play distinct but complementary roles in the financial management of venture-funded startups. The post Accountant vs. Fractional CFO: Choosing the Right Financial Expertise for Your Startup appeared first on Burkland.
Accounting Today
APRIL 29, 2024
A recent survey from EY found that 90% of respondents already use at least some AI in their work, and other recent developments around the technology.
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Reckon
APRIL 29, 2024
Guest post by AON. Here’s why keeping appropriate records can help during a claim. In a world where almost everything is paperless, keeping records and filing documentation is something that might slip your mind as you go about your usual business. While digitisation has made record keeping easier in some ways, it has also brought about some complexities.
TaxConnex
APRIL 30, 2024
More states are plowing ahead with adding a new kind of expense to delivering in the eCommerce age. In what states do you have to watch for retail delivery fees (RDFs)? Q: Is this a “tax” or a “fee”? A: Most states refer to it as a fee, a distinction that allows lawmakers to avoid the voting process. RDFs are a relatively new concept: Colorado was first to roll one out, in July 2022.
Speaker: Amanda Adams, Fractional CFO, CPA
Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.
CPA Practice
APRIL 30, 2024
By Will Zacher. In a landmark experiment, researchers at AIGENCY have tested the limits of artificial intelligence (AI) by challenging state-of-the-art AI models with the rigorous Certified Public Accountant (CPA) exam. Their study, “Can LLMs Pass the CPA Exam? Evaluating Large Language Model Performance on the Certified Public Accountant test,” provides the first comprehensive assessment of AI’s potential in the accounting profession.
RogerRossmeisl
APRIL 28, 2024
When employees commit fraud, they generally try to keep the schemes going as long as possible by concealing their activities from others. How successful thieves are at concealment depends largely on their identities, their roles within their organizations and the type of fraud they commit. To uncover potential fraud in your organization and prevent financial losses, it helps to familiarize yourself with common perpetrator characteristics and the methods occupational thieves use to conceal their
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Accounting Insight
MAY 1, 2024
It’s safe to say that artificial intelligence (AI) and automation have penetrated every industry out there. And accounting software is no exception. Before delving into the potential impact of AI in accounting, it’s essential to understand the role AI plays in modern accounting practices. In modern accounting, AI is being used to automate several tasks, including data entry, invoice processing and financial statement analysis.
MyIRSRelief
MAY 1, 2024
Running a small business is an exhilarating rollercoaster. You’re passionate about your product or service, constantly innovating, and striving for growth. Yet, amidst the excitement lurks a dark alley – the realm of taxes. Navigating complex tax codes, understanding specific forms like 1120, 1120S, and 1065, and ensuring compliance can feel like deciphering ancient scrolls.
Canopy Accounting
APRIL 30, 2024
Are you keeping up with the rapid AI evolution in accounting? Our eBook explores how AI is transforming efficiency, boosting data security, and empowering strategic decision-making in accounting, offering actionable tips for implementation in your firm.
RogerRossmeisl
APRIL 30, 2024
According to the Treasury, the US government has provided auto dealers with >$580 million in advance payments for consumer electric vehicle (EV) tax credits since 1/1/2024. Before 2024, American car purchasers were only eligible for the new electric vehicle (EV) credit of up to $7,500 or the $4,000 credit for used EVs when they submitted their tax returns in the subsequent year.
Speaker: Abdi Ali, Sr. Lease Accounting Consultant
Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.
Accounting Today
MAY 3, 2024
The landscape of Corporate Transparency Act beneficial ownership information reporting continues to evolve, and accountants and others who advise their small business clients need to stay ahead of the curve.
MyIRSRelief
APRIL 29, 2024
Los Angeles, the City of Angels, beckons with its vibrant energy, diverse culture, and endless opportunities. It’s no surprise then, that thousands of ambitious entrepreneurs set up shop in the sprawling metropolis and its surrounding cities, forming the backbone of the Los Angeles-Long Beach-Anaheim, CA (LA Metro) economy. But for these go-getters, navigating the complexities of running a business, especially the ever-challenging world of taxes and accounting, can feel overwhelming.
CPA Practice
APRIL 28, 2024
The Internal Revenue Service is offering tax-related information to entrepreneurs in anticipation of the upcoming kick-off of National Small Business Week. The U.S. Small Business Administration coordinates the annual event, helping entrepreneurs with resources, benefits and other important business startup information that small business owners can use to launch their enterprises.
RogerRossmeisl
APRIL 28, 2024
In commercial litigation, it’s common for business valuation experts to measure damages based on lost profits or diminished business value — or both. Here’s an introduction to these concepts. The basics Generally, it’s appropriate to estimate lost profits when a plaintiff suffers an economic loss for a discrete period and then returns to normal. On the other hand, diminished business value is typically reserved for businesses that are completely destroyed or otherwise suffer a permanent loss, su
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Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.
Insightful Accountant
APRIL 29, 2024
Insightful Accountant proudly announces this year's Top 100 ProAdvisors along with our Emeritus ProAdvisors of the Year. Congratulations to all being recognized for this year's awards.
Accounting Today
MAY 2, 2024
The Internal Revenue Service released an update of its Strategic Operating Plan, with improvements planned in services and technology for both taxpayers and tax professionals.
CPA Practice
APRIL 29, 2024
By Scott H. Cytron Filing taxes for your clients doesn’t have to be a drain on your firm’s time, energy, and resources. For today’s firms, continuing with “business as usual” might mean: Collecting paper documents and using multiple software programs, leading to data entry errors, complex workflows, and wasted time. Struggling to recruit and retain high-quality employees.
RogerRossmeisl
APRIL 28, 2024
If your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow for significant tax-deductible contributions. For example, if you’re self-employed and set up a SEP-IRA, you can contribute up to 20% of your self-employment earnings, with a maximum contribution of $69,000 for 2024 (up from $66,000 for 2023).
Speaker: David Warren and Kevin O’Neill Stoll
Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng
Withum
MAY 2, 2024
In a landmark move, the Drug Enforcement Administration (DEA) announced on April 30, 2024, that it will initiate the process of rescheduling cannabis from Schedule I to Schedule III under the Controlled Substances Act (CSA), effectively recognizing its medical value and opening the door for more research and legal access. The decision comes after years of pressure from advocates, lawmakers, and scientists who have argued that the current classification of cannabis as a highly dangerous, addictiv
Accounting Today
MAY 3, 2024
The Securities and Exchange Commission charged the fast-rising auditing firm with deliberate, systemic failures to comply with PCAOB standards for audits and reviews.
CPA Practice
MAY 3, 2024
By Gail Cole. Sales tax holidays are all the rage right now. There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024. If you’re in retail, hang on to your hats and read our sales tax holiday FAQ to learn: What is a sales tax holiday? Do all states have a tax holiday? What products are included in tax-free weekends?
RogerRossmeisl
APRIL 28, 2024
Merger and acquisition (M&A) activity increased significantly in the fourth quarter of 2023, signaling a hot M&A market for 2024. But there are some potential pitfalls for unwary buyers and sellers. Here are some common mistakes and how a business valuator can help ensure your deal goes as planned. Reliance on valuation rules-of-thumb Some M&A participants rely on industry “rules of thumb” and gut instinct, especially in mature industries.
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The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.
Patriot Software
MAY 2, 2024
Canton, OH Patriot Software is proud to announce that its founder & CEO, Mike Kappel, has been selected by Ernst & Young LLP (EY US) as a finalist for the EY Entrepreneur Of The Year® 2024. Kappel is among 29 entrepreneurs selected by an independent panel of judges.
Accounting Today
MAY 2, 2024
A set of polls has found that leaders expect that generative AI will lead organizations to actually increase, not decrease, their headcount, at least in the short term.
CPA Practice
APRIL 29, 2024
By Sarah Acton, Chief Marketing Officer at BILL. Many accounting firms started 2024 with an eye toward expansion, and the post-busy season spring brings renewed purpose and fresh perspective to put plans into action. According to Accounting Today , 62% of the top 100 firms reported double-digit growth in 2023, and the majority are optimistic for continued growth this year.
RogerRossmeisl
APRIL 28, 2024
If you’re buying a new home, you may have thought about keeping your current home and renting it out. In March, average rents for one- and two-bedroom residences were $1,487 and $1,847, respectively, according to the latest Zumper National Rent Report. In some parts of the country, rents are much higher or lower than the averages. The most expensive locations to rent a one-bedroom place were New York City ($4,200); Jersey City, New Jersey ($3,260); San Francisco ($2,900); Boston ($2,850) and Mia
Speaker: Mark Stovel
When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.
Going Concern
APRIL 30, 2024
It’s nice to see the internet getting heated about something other than politics for once. Enjoy it while you can, it’s an election year. So some guy tweeted the following on April 23: Me: really enjoyed the call. Please see attached financial modeling test Gen Z applicant: this looks like a lot of work. Without knowing where I stand in the process, I’m not comfortable spending 90 minutes in Excel Me:…well…I can tell you where you stand now — m. stanfield (@mu2myoc) April 23, 2
Accounting Today
MAY 3, 2024
Sen. Ron Wyden, in a letter, demanded that TurboTax refund customers who, due to a software glitch, were inappropriately encouraged to take non-optimal choices, resulting in higher taxes.
CPA Practice
MAY 3, 2024
By Gail Cole. Hawaii has some of the highest median home prices and rents in the country — and a persistent housing crisis. Could tax incentives geared toward turning Hawaii short-term rentals (STRs) into long-term housing increase housing stock and decrease rents for Hawaiians? Governor Josh Green thinks so. Governor Green has vowed to sign into law any bill that would transform STRs and vacant investment properties owned by nonresidents into housing for locals.
RogerRossmeisl
APRIL 30, 2024
Vacation homes in upscale areas may be worth way more than owners paid for them. That’s great, but what about taxes? Here are three scenarios to illustrate the federal income tax issues you face when selling an appreciated vacation home. Scenario 1: You’ve never used the home as your primary residence In this case, the home sale gain exclusion tax break (up to $250,000 or $500,000 for a married couple) is unavailable.
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With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.
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