TaxConnex

FEBRUARY 6, 2024

Sales tax is not something top of mind for most executives, but it is something that the majority of businesses will have to manage at some level. No matter the size of your business, if you are selling a taxable product or service and establish nexus in specific states or jurisdictions, then you have a sales tax obligation. While it is not meant to be a burden on the seller, many businesses have been left scrambling to understand how to manage the complex process of sales tax compliance.

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Sales Tax Technology auditor 247

CPA Practice

FEBRUARY 8, 2024

Accounting firms employing cloud-based technology solutions experience higher levels of growth, but many are still grappling with how to harness the full power of such tools for strategic benefit. This is according to the 2024 U.S. Accounting Industry Report, commissioned by Wolters Kluwer, which polled 1,776 tax and accounting firms of all sizes, also shows that modern accounting practices face a mix of internal and client facing challenges.

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accounting firms Technology accountant Account 122

Dent Moses

FEBRUARY 7, 2024

When talking with clients, I always like to know how their business is going. I love to hear about everything: their team, sales, challenges, etc. When asked the same question, I usually respond, “Business is great, and we’re looking for more.” However, one of the accounting profession’s biggest challenges is the need for more people to do the work.

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Accounting Today

FEBRUARY 7, 2024

The AICPA's professional liability insurer will cover client services related to the Corporate Transparency Act's beneficial ownership information reporting requirement.

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cpa firm CPA cpas accounting firms 101

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.

Account

CPA Practice

FEBRUARY 6, 2024

The landscape of public accounting experienced an unprecedented shakeup in 2023, marked not by the usual suspects of annual updates or technological advancements, but by a surge of interest from an unexpected source: private equity (PE). With a series of high-profile investments in large accounting firms and a quieter but no less significant foray into the accounting software sector, PE firms have unmistakably cast their eyes towards an industry traditionally characterized by its cautious, measu

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public accounting accountant Account accounted 75

Accounting Today

FEBRUARY 7, 2024

A new survey from the ACCA looks at trends in DEI, AI, employee retention, hybrid work and mental health for accountants.

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accountant Account accounted 130

CPA Practice

FEBRUARY 6, 2024

Financial professionals face significant workflow challenges, and have been increasingly adopting technologies that can help them overcome staffing shortages, remote workforces and increased workloads. A new report from Financial Cents that delves into the experiences and challenges faced by accounting, bookkeeping, and tax firm owners. The 2024 State of Accounting Workflow Automation Report provides invaluable insights from 367 respondents primarily located in North America, including firm owne

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Technology accountant Account accounted 52

TaxConnex

FEBRUARY 8, 2024

Sales tax compliance depends on many factors. One of the most important – and the most incessantly changing – is the tax rates that America’s thousands of jurisdictions impose. These rates change all the time – if not the actual percentage, then the exemptions and other special rules that can seem nothing short of picayune for a business just trying to stay on the right side of sales tax laws.

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Accounting Insight

FEBRUARY 8, 2024

XBert, the future leading AI-powered software for bookkeeping and accounting teams, is now available in the UK. XBert helps bookkeepers and accountants work faster and smarter, thanks to its unique features that monitor data integrity, automate workflows, provide analytics and insights, and offer a white-labelled client portal. XBert’s co-founder, Troy Brown, said: “We are thrilled to launch XBert in the UK, one of the largest and most competitive markets for bookkeeping and accounting services.

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bookkeeping accountant Account accounted 59

BurklandAssociates

FEBRUARY 7, 2024

Net Revenue Retention (NRR), also known as Net Dollar Retention (NDR) is a key metric for SaaS companies. Measuring NRR provides important insights into a SaaS startup’s retention and expansion Read More The post How to Measure Your SaaS Startup’s Net Revenue Retention (NRR) appeared first on Burkland.

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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.

Account

RogerRossmeisl

FEBRUARY 4, 2024

If you’re interested in selling commercial or investment real estate that has appreciated significantly, one way to defer a tax bill on the gain is with a §1031 “like-kind” exchange. With this transaction, you exchange the property rather than sell it. Although the real estate market has been tough recently in some locations, there are still profitable opportunities (with high resulting tax bills) when the like-kind exchange strategy may be attractive.

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Real Estate Tax CPA business tax 160

MyIRSRelief

FEBRUARY 9, 2024

When the Internal Revenue Service (IRS) imposes a wage or bank levy , it can create a significant financial strain on individuals and businesses alike. A levy is a legal seizure of property to satisfy a tax debt, and when it comes to wages or bank accounts, the impact is direct and immediate. However, there are avenues for obtaining relief from these levies, and understanding these options is crucial for those affected.

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Tax Legal accountant Account 130

Acterys

FEBRUARY 7, 2024

Successful planning, budgeting, and forecasting requires having the right strategy and tools to process and analyze vast amounts of data. That’s why Microsoft is constantly updating and expanding features of Power BI. Learn about recent platform updates that help financial professionals uncover insights quickly and efficiently. Plus, find out how to maximize your planning, budgeting, and forecasting processes with a unified approach to data and analytics.

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Sales accounting and finance Start-ups Retail 130

Accounting Today

FEBRUARY 8, 2024

The Internal Revenue Service issued a warning about a new scam email this tax season pretending to come from tax software providers asking for the preparer's Electronic Filing Identification Number.

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Tax 133

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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.

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RogerRossmeisl

FEBRUARY 4, 2024

One of your New Year’s resolutions may be to pay more attention to your health. Of course, that may cost you. Can you deduct your out-of-pocket medical costs on your tax return? It depends. Many expenses are tax deductible, but there are several requirements and limitations that make it difficult for many taxpayers to actually claim a deduction. The rules Medical expenses can be claimed as a deduction only to the extent your unreimbursed costs exceed 7.5% of your adjusted gross income.

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Tax tax return CPA 160

Going Concern

FEBRUARY 5, 2024

The Aussie Corporate ( Insta ) recently shared some uniquely Deloitte motivation attempts and we must warn you, it’s bad. Why are firms like this? HAHAHAHA because we make you work too much LOL aren’t we funny!! But wait! There’s more! Ten posters to be exact, nine of which are terrible. View this post on Instagram A post shared by The Aussie Corporate (@theaussiecorporate) This set includes: Don’t “circle back” Do Talk straight [Take your own advice here, Big

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Acterys

FEBRUARY 7, 2024

Successful planning, budgeting, and forecasting requires having the right strategy and tools to process and analyze vast amounts of data. That’s why Microsoft is constantly updating and expanding features of Power BI. Learn about recent platform updates that help financial professionals uncover insights quickly and efficiently. Plus, find out how to maximize your planning, budgeting, and forecasting processes with a unified approach to data and analytics.

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Sales accounting and finance Start-ups Retail 130

Accounting Today

FEBRUARY 9, 2024

The 150-hour requirement for obtaining a CPA license has led to a decline in Black and Latino CPAs of up to 26%, according to a research study.

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cpas CPA Education accounted 143

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

Sales

Canopy Accounting

FEBRUARY 6, 2024

Busy season is upon us. Every year you may be saying the same things…"I start off sticking to a routine but it quickly falls off and I start feeling burned out and tired". Make this the year you are going to make small changes that make a big impact through incorporating mindfulness practices at work. During this session, we will experience practices we can put in place in our day to gain a better understanding of where we are off-balance internally so we can show up better for ourselves and tho

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CPA Practice

FEBRUARY 6, 2024

State and local taxes, also often referred to as SALT, are one of the most dynamic areas of tax practice, with thousands of jurisdictions across the U.S. imposing increases or newly-created taxes on real or other property. The SALT professionals at Grant Thornton have compiled it’s top predictions for what it expects to see in the coming year in this volatile space. 1.

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South Dakota Tax Maryland income tax 124

Going Concern

FEBRUARY 7, 2024

By Sharon Lassar, PhD, CPA (Florida) John J. Gilbert Professor and Director of the School of Accountancy, University of Denver Thank goodness for the Connecticut Society of CPAs! Without their posting , it would have taken me longer to learn about the latest half-baked idea by NASBA regarding the education requirements to become a CPA. It seems NASBA wants to keep this under wraps.

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CPA Education cpas Connecticut 120

Accounting Today

FEBRUARY 7, 2024

The Treasury Department's Financial Crimes Enforcement Network hopes to deter money laundering in the residential real estate industry with a newly proposed rule.

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Real Estate accountant accounted Account 126

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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.

ThomsonReuters

FEBRUARY 9, 2024

As we step into a new year, the taxation realm is abuzz with discussions surrounding the Tax Relief for American Families and Workers Act of 2024. However, amidst this spotlight, there are other tax proposals quietly gaining momentum. In this blog, we will dive into the details of four notable tax laws that have been introduced into legislation and deserve our attention.

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Tax tax return Technology income tax 110

CPA Practice

FEBRUARY 7, 2024

Every year, millions of businesses and other entities have a mini tax season before the real tax season, and many turn to their accounting firm advisors or tax professionals for help. Due to changes in reporting requirements, the 2024 filings became a little more challenging: The years ahead may be even more so. These companies are required to file a Form 1099-MISC or 1099-NEC for any persons that are considered contractors or vendors to whom they paid $600 or more in the previous calendar year.

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Going Concern

FEBRUARY 6, 2024

Hey guess what, everyone? We have fresh research that shows the 150 hour CPA licensure rule decreases the number of Black and Hispanic entrants to the profession. In this case, a 26% drop. Add this to the existing body of evidence that demonstrates two things: the 150 hour rule does not improve the quality of licensed CPAs (“ Occupational Licensing and Accountant Quality: Evidence from the 15 -Hour Rule ” by John Barrios) and the 150 hour rule is actively preventing minorities from p

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cpas CPA accounting and finance audit 120

Accounting Today

FEBRUARY 9, 2024

A provision paying for breaks for parents and business owners has earned widespread praise, but an expert says financial advisors should be on alert.

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Tax 130

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.

Cherry Bekaert

FEBRUARY 9, 2024

Grant recipients, and hopeful recipients, are often overwhelmed by the management aspect of their funds. On this episode, Cherry Bekaert experts provide insight on key considerations for a comprehensive grant budget. Kimberly Konczack, an Advisory Manager at Cherry Bekaert, hosted Shuo Zhang, Manager, and Kat Kizior, Senior Associate, to discuss their experience with grants management at state and local organizations, grant budgets and the importance of planning.

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Government 107

CPA Practice

FEBRUARY 9, 2024

While job openings remain elevated and talent shortages persist, there is less attrition in the labor force with fewer workers planning to change jobs this year. According to new research from talent solutions and business consulting firm Robert Half, only 36% of workers plan to look for a new job in the next six months, down from 49% in July 2023. Professionals Most Likely to Make a Move (By Generation and Specialization) Generation February 2024 July 2023 Gen Z 55 % 74 % Millenni

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accounting and finance Maine Legal Finance 119

Going Concern

FEBRUARY 8, 2024

Perhaps this post is long overdue and should have been written at least two years ago when the professional workforce began returning to the office post-pandemic but better late than never eh? Take notes, slobs. Over the years, we have covered various incidents of college-educated professionals behaving as though they were raised in a barn when utilizing the office restroom.

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Michigan California public accounting Education 111

Accounting Today

FEBRUARY 6, 2024

The Internal Revenue Service revised its frequently asked questions on the Form 1099-K to alleviate confusion this filing season.

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Tax 132

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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.