CPA Practice

SEPTEMBER 30, 2024

Over the past 20 years, accounting firm leaders have been challenged by a rapidly evolving technological landscape that promises greater productivity and efficiency – keys to modern successful firms – to those who are able to evaluate and implement the solutions that best optimize client service and firm management. In the wake of the pandemic, they’ve also had to reimagine the dynamics of their staffing and workflow, as many firms adopted remote or hybrid workforce models, often necessary to co

CPA 119

CPA North Carolina accountant Account 119

RogerRossmeisl

SEPTEMBER 29, 2024

When drafting partnership and LLC operating agreements, various tax issues must be addressed. This is also true of multi-member LLCs that are treated as partnerships for tax purposes. Here are some critical issues to include in your agreement so your business remains in compliance with federal tax law. Identify and describe guaranteed payments to partners For income tax purposes, a guaranteed payment is one made by a partnership that’s: 1) to the partner acting in the capacity of a partner, 2) i

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Tax income tax CPA business tax 230

Insightful Accountant

SEPTEMBER 30, 2024

In this episode of the Accounting Insiders Podcast, host Gary DeHart welcomes Janel Sykora from Cajabra to explore the critical role of marketing for accountants. Discover why shifting sm.

accountant 52

accountant Account accounted 52

Canopy Accounting

OCTOBER 2, 2024

What makes you the obvious choice for clients when they’re deciding between you and a competitor? Is it the niche services you offer, the exceptional service you provide, or your strong online presence?

accountant 59

accountant Account accounted 59

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

Anders CPA

SEPTEMBER 30, 2024

In-kind contributions, or gifts-in-kind (GIK), play a critical role in supporting not-for-profit organizations’ program activities and mission goals. Accurately recognizing and valuing these nonfinancial contributions has long been a challenge. Changes to the reporting standards for in-kind contributions highlight the need for not-for-profits to be thorough, transparent and strategic in how they report these assets.

Legal 52

Legal CPA accountant Account 52

TaxConnex

OCTOBER 1, 2024

Information technology companies face a special challenge in sales tax and regulatory compliance, chiefly because of what you sell and how you sell it. What do you do exactly? Sell Software as a Service (SaaS)? Provide an information service? A telecom service? Your company probably fits into at least one of these categories – or more than one, which is where sales tax obligations and regulatory compliance can get complicated.

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Technology Tax Sales 147

CPA Practice

SEPTEMBER 30, 2024

The IRS on Sept. 30 requested public comments on draft Form 7217 and instructions for draft Form 7217. Last month the IRS posted revised draft Form 7217, with the new title “Partner’s Report of Property Distributed by a Partnership.” This is a new form for tax year 2024 applicable to distributions to partners made during that tax year. The purpose of Form 7217 is to report all distribution of property that a partner receives from a partnership.

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Tax 116

CPA Practice

OCTOBER 1, 2024

The IRS on Tuesday announced disaster tax relief for all individuals and businesses affected by Hurricane Helene, including the entire states of Alabama, Georgia, North Carolina, and South Carolina, as well as parts of Florida, Tennessee, and Virginia. Taxpayers in these areas now have until May 1, 2025, to file various federal individual and business tax returns and make tax payments.

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South Carolina North Carolina Tax Alabama 130

Accounting Insight

OCTOBER 1, 2024

The Millennials (Gen Y) and arrival of Generation Z in the workforce is transforming how businesses operate. Often stereotyped—Millennials as tech-savvy yet fickle, and Gen Z as pragmatic and bold—these generations are driving significant changes in workplace dynamics. Raised in an era of instant access and global interconnectedness, both generations bring fresh perspectives that challenge the status quo of traditional management.

Technology 59

Technology accountant Account accounted 59

RogerRossmeisl

SEPTEMBER 29, 2024

With the arrival of fall, it’s an ideal time to begin implementing strategies that could reduce your tax burden for both this year and next. One of the first planning steps is to ascertain whether you’ll take the standard deduction or itemize deductions for 2024. You may not itemize because of the high 2024 standard deduction amounts ($29,200 for joint filers, $14,600 for singles and married couples filing separately, and $21,900 for heads of household).

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tax planning Tax CPA 213

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

TaxConnex

OCTOBER 3, 2024

Navigating sales tax compliance in complex organizations can be a challenge, influenced by various factors. Industries like telecommunications, hospitality, healthcare, manufacturing, and technology face unique complexities when it comes to sales and use tax compliance. In this blog we discuss some of the reasons why these particular industries can be a bit more challenging than others.

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Sales Tax Hospitality Healthcare 259

BurklandAssociates

OCTOBER 1, 2024

For healthcare founders, the MSO/PC model simplifies scaling, ensuring compliance with CPOM while allowing you to focus on delivering quality care. The post The MSO/PC Advantage for Scaling a Healthcare Startup appeared first on Burkland.

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Healthcare accountant accounted Account 147

MyIRSRelief

OCTOBER 4, 2024

Filing taxes can be a daunting task, whether you are an individual or a business owner. Despite your best efforts, errors can occur, leading to potential complications with the IRS. This article will guide you through the process of correcting errors on your tax return, provide instructions on filing amended returns , highlight common mistakes to avoid, and explain how our tax firm can professionally assist you.

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tax return business tax Tax income tax 130

RogerRossmeisl

SEPTEMBER 29, 2024

Electric vehicles (EVs) have become increasingly popular. According to Kelly Blue Book estimates, the EV share of the vehicle market in the U.S. was 7.6% in 2023, up from 5.9% in 2022. To incentivize the purchase of EVs, there’s a federal tax credit of up to $7,500 for eligible vehicles. The tax break for EVs and fuel cell vehicles is called the Clean Vehicle Tax Credit.

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Tax CPA cpa firm 207

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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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Withum

OCTOBER 3, 2024

The IRS issued a news release providing tax relief for taxpayers affected by Hurricane Helene. This includes the entire states of Alabama, Georgia, North Carolina, and South Carolina, 41 counties in Florida, eight counties in Tennessee, and six counties and one city in Virginia. Key Hurricane Helene Tax Relief Information Who qualifies for this relief?

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South Carolina North Carolina tax preparation income tax 130

CPA Practice

OCTOBER 4, 2024

The Internal Revenue Service says its Direct File program has added 12 new states and will be available for the 2025 tax filing season. It now has double the number of states than last year’s pilot, and the agency says it will cover a wider range of tax situations, greatly expanding the number of taxpayers eligible to use the free e-filing service. State and eligibility expansion For the 2025 tax filing season, eligible taxpayers in 24 states will be able to use Direct File: 12 states that were

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Alaska South Dakota North Carolina tax return 126

Accounting Today

SEPTEMBER 30, 2024

The American Institute of CPAs and the National Association of State Boards of Accountancy proposed a set of changes in the model legislation used in many states to reflect an alternative pathway to CPA licensure based on competency.

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CPA accountant Account accounted 128

RogerRossmeisl

SEPTEMBER 29, 2024

Protecting your small business from theft is far more complex than it used to be. Gone are the days when locking the doors was enough to minimize the likelihood of intruders. Today, companies face both physical and cyber risks, and it’s critical to understand how they’re intertwined. The problem with things Imagine that a thief breaks into one of your employee’s cars and steals a company laptop that contains your entire customer database.

CPA 205

CPA 205

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

Withum

SEPTEMBER 30, 2024

In an increasingly digital world, the line between personal and professional lives has blurred, making cybersecurity a shared responsibility that extends beyond the workplace. October marks Cybersecurity Awareness Month, a timely reminder for leaders across all industries to take actionable steps toward safeguarding both personal and business information.

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Education audit accountant Account 119

CPA Practice

OCTOBER 3, 2024

Avalara, Inc. , a provider of tax compliance automation software for businesses of all sizes, has announced the launch of Automated Tariff Code Classification , a AI-based system that uses a pioneering combination of proprietary, advanced AI, machine learning, and natural language processing methods and technologies to classify large product catalogs quickly and efficiently to Harmonized System (HS) or Tariff Codes.

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Technology Tax Retail 122

Accounting Today

OCTOBER 2, 2024

TIGTA said the IRS failed to address literally tens of thousands of security vulnerabilities in both its mainframe platform environment and its security application environment.

Tax 122

Tax 122

RogerRossmeisl

SEPTEMBER 29, 2024

As reported via IR-2024-240 on 9/18/2024 The Department of Treasury and Internal Revenue Service issued proposed regulations to provide guidance for the Alternative Fuel Vehicle Refueling Property Credit (the tax credit related to the installation of EV chargers). The Inflation Reduction Act amended the credit for qualified alternative fuel vehicle refueling property.

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CPA Tax cpa firm business tax 198

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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.

Going Concern

OCTOBER 1, 2024

We noticed this morning that an October 2022 article we wrote about Fat Joe suing BDO was suddenly getting a lot of views today, now it’s clear why. FT says in a fresh story that 54-year-old rapper Jay-Z — real name Shawn Carter aka Mr. Bey — severed his relationship with BDO “following accusations that a staff member had been stealing money from customer accounts.” That former staff member is Vanessa Rodriquez, assistant to Andre N.

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Colorado Florida Entertainment accounting firms 115

CPA Practice

OCTOBER 3, 2024

As the cost of healthcare in the U.S. rises to a record high since the COVID-19 pandemic, nearly half of employers expect healthcare costs will exceed budget projections this year. In response, employers are embracing different approaches to safeguard program affordability for their companies as well as for their employees. While focusing on more competitive, cost-effective plan designs to control costs, they are seeking to maintain employee wellbeing, according to a new survey by WTW, a global

Healthcare 119

Healthcare Retail accountant Account 119

Accounting Today

OCTOBER 1, 2024

The American Institute of CPAs has sent a letter to the IRS asking for immediate tax relief in the wake of the hurricane, which caused widespread destruction in six states.

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Tax cpas 124

RogerRossmeisl

SEPTEMBER 29, 2024

Manufacturers are as varied as the products they make. They come in different sizes and specialties. So no universal formula applies when determining their value. Instead, a business valuator must fully understand the subject company’s operations to arrive at an accurate value conclusion. Here’s a closer look at seven factors that affect value in the manufacturing sector: 1.

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Manufacturing CPA 184

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.

Withum

OCTOBER 3, 2024

Withum is proud to share Caroline Weirich , Supervisor, was nominated at the Maryland Association of Certified Public Accountants (MACPA) 2024 Women to Watch Awards in the Emerging Leader category. The MACPA Foundation’s annual Women to Watch awards celebrates women in the accounting profession who demonstrate leadership and contribute to the profession through service and implementation of impactful initiatives.

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Maryland public accounting Washington audit 111

CPA Practice

OCTOBER 2, 2024

AICPA News is a round-up of recent announcements from the American Institute of CPAs. AICPA & CIMA and the University of Lodz launch joint program to empower students for career success AICPA & CIMA, together with the Association of International Certified Professional Accountants, recently teamed up with the University of Lodz, Poland (UL) to launch the much-anticipated CGMA University Program to professionals enrolled in its Polish-American MBA program.

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accounting and finance cpas financial statements CPA 115

Accounting Today

OCTOBER 1, 2024

LHH's 2025 Annual Salary Guide reports 56% of accounting professionals feel their roles are at risk of disruption by digitalization, automation and AI.

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accountant Account accounted 131

RogerRossmeisl

SEPTEMBER 29, 2024

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2024. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the filing requirements. Note: Certain tax-filing and tax-payment deadlines may be postponed for taxpayers who reside in or have a business in a federally declared disaster area.

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Tax CPA business tax 182

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