Inform Accounting
DECEMBER 1, 2024
As the holiday season approaches, businesses are not just decking the halls - they’re also closing the books for the year. Here are 12 accounting tips wrapped up in a festive Christmas theme to help you keep your finances as merry and bright as your Christmas tree lights!
Withum
DECEMBER 2, 2024
When it comes to accounting methods, businesses primarily choose between two approaches: cash basis accounting and accrual basis accounting. Understanding the key differences between cash vs. accrual accounting is essential as this decision impacts financial reporting, cash flow management and long-term planning. What Is Cash Basis Accounting? Cash basis accounting is a straightforward method in which revenue and expenses are recorded only when cash is exchanged.
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Insightful Accountant
DECEMBER 1, 2024
Many corporations and limited liability companies must now file a Beneficial Ownership Information (BOI) Report with the U.S. Treasury Financial Crimes Enforcement Network. have you filed yours?
Withum
DECEMBER 4, 2024
The corporate tax rate is currently a flat 21% rate. There is also a 15% corporate alternative minimum tax (CAMT) based on book income for companies with average annual adjusted financial statement income exceeding $1 billion. Limits on Deduction of Business Interest Every business, regardless of its form, is generally subject to a disallowance of a deduction for net interest expense in excess of 30% of its adjusted taxable income (ATI).
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.
TaxConnex
DECEMBER 3, 2024
There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. NOMAD news. Will “NOMAD” soon be just a NOD? The five-letter acronym stands for the states without a statewide sales tax – New Hampshire, Oregon, Montana, Alaska and Delaware – and two of those states might be leaving the group sooner than later.
CPA Practice
DECEMBER 2, 2024
The Internal Revenue Service and its Security Summit partners are warning taxpayers to approach their holiday shopping with extra caution because scammers are also shopping – for their next victim’s personal information. The consumer alert kicks off the ninth annual National Tax Security Awareness Week featuring tips for taxpayers and tax professionals to avoid scams and protect their sensitive data.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
CPA Practice
DECEMBER 2, 2024
By Amy Gallagher, Managing Director, UHY. As we move into 2025, accounting firms face a significant challenge: a growing talent gap caused by many experienced CPAs and professionals retiring. The accounting profession’s yawning talent gap has long been a thorn in the industry’s side. However, with an estimated 75 percent of CPAs having hit retirement age by the year 2020, and the number of accounting graduates continuing to trend downwards , the talent challenges the accounting industry is facin
Insightful Accountant
DECEMBER 2, 2024
In a significant development for tax practitioners and their small business clients, the IRS has established new transitional thresholds for Form 1099-K reporting through Notice 2024-85.
Accounting Today
DECEMBER 4, 2024
The most influential people in the field, as chosen by their peers.
TaxConnex
DECEMBER 5, 2024
The explosion of online holiday shopping in and around Thanksgiving has evolved beyond conversational. It’s now expected – and getting bigger every year. Online retail ruled Black Friday , Nov. 29, this year, even as in-person shopping dropped slightly. Adobe Analytics reported $10.8 billion in U.S. online sales on Black Friday, up 10.2% over last year – a record amount of spending on that day of the calendar.
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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.
CPA Practice
DECEMBER 5, 2024
Following the November presidential election, CPA business leaders have a much more positive outlook about the U.S. economy and their own organizations for the next 12 months, according to the fourth-quarter AICPA & CIMA Economic Outlook Survey. The quarterly survey includes 273 qualified responses from CPAs and Chartered Global Management Accountants (CGMAs) who hold leadership positions, such as CFO or controller, in their companies.
MyIRSRelief
DECEMBER 2, 2024
The Benefits of Outsourcing Bookkeeping for Small Business Growth Outsourcing bookkeeping has become a game-changer for small businesses looking to streamline operations, cut costs, and focus more on growth. For many small business owners, managing the books can be time-consuming and complex, especially when juggling payroll, tax preparation, and other essential financial tasks.
Accounting Today
DECEMBER 2, 2024
States that do not assess the major taxes are more competitive than states with complex taxes with high rates.
inDinero Tax Tips
DECEMBER 4, 2024
Founders usually know how much runway they have, but may not be budgeting for their startup with an explicit system. While this can work for a time, investors want to see clear, data-backed strategies for how their money will be or is being used to deliver returns. This guide will walk you through the essential steps to develop a budget that supports growth and helps make a strong business case for prospective investors.
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.
CPA Practice
DECEMBER 3, 2024
UHY is getting an injection of private equity funding from Boston-based investment firm Summit Partners, calling it a significant milestone in its growth and strategic development, the top 30 accounting firm said on Dec. 3. Financial terms of the deal weren’t disclosed. With this deal, more than 35% of the top 30 accounting firms in the U.S. by revenue have sold stakes in their firms—many a controlling stake and some a minority stake —to private equity investors.
Withum
DECEMBER 3, 2024
In this episode of Cryptonomix, Mark Eckerle sits down with Jeff Rundlet, Head of Accounting Strategy at Cryptio, an institutional-grade crypto accounting platform.
Accounting Today
DECEMBER 2, 2024
Al-Nesha Jones envisioned a better busy season, and made it happen at her ASE Group
inDinero Tax Tips
DECEMBER 2, 2024
This article is a primer for founders without finance backgrounds who want a sense of what should be on their minds when developing a financial plan for their SaaS startup. There are plenty of free spreadsheet templates online, but without an understanding of how or why to customize them, they aren’t particularly useful. It’s like the difference between copying someone else’s homework and doing it yourself.
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.
CPA Practice
DECEMBER 6, 2024
Brian Tankersley, CPA, and Randy Johnston provide a recap of the 2024 CCH Connections user conference. Watch the video, or listen to the audio podcast below (transcript below): Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.) Brian F. Tankersley, CPA.CITP, CGMA 00:00 Welcome to the accounting Technology Lab, sponsored by CPA practice advisor, with your hosts, Randy Johnston and Brian Tankersley.
Summit CPA
DECEMBER 5, 2024
Is your service-based business experiencing inconsistent cash flow that is hard to forecast ? Your accounts receivable days might be to blame. Whether you don’t yet have payment terms or aren’t consistently following up on unpaid invoices, not receiving cash on time can cause unwanted side effects.
Accounting Today
DECEMBER 3, 2024
The latest data on the growth of the IRS's Direct File program, how many corporate tax pros believe generative AI is beneficial in accounting, and other key metrics.
Withum
DECEMBER 5, 2024
See What’s New For 2025 With 2024 coming to a close, the IRS recently released updated numbers for 2025 benefit plan limits. Download our 2025 Benefit Plan Limits and Thresholds guide for updated information on: 401(K) Plans Defined Benefit Plans Health & Welfare Plans Form 5500, 990, LM-2, W-2, and 1099 Filing Deadlines Download Guide Contact Us Learn how Withum can help.
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 Practice
DECEMBER 6, 2024
Staff report Audit firms have room to improve when it comes to creating cultures of accountability that promote audit quality, according to a new staff Spotlight report from the Public Company Accounting Oversight Board (PCAOB). The report, released on Dec. 5, is based on an in-depth PCAOB staff review of culture at audit firms, including more than 150 interviews with partners at the largest U.S. audit firms.
Ryan Lazanis
DECEMBER 3, 2024
If you want your monthly bookkeeping checklist to be efficient and accurate, here are 13 tasks to include—with tips to make them easier. The post 13 Tasks To Include In Your Monthly Bookkeeping Checklist appeared first on Future Firm.
Accounting Today
DECEMBER 2, 2024
The tax advantages and a degree of flexibility have added to the appeal of spousal lifetime access trusts. But they aren't a fit for everyone.
Insightful Accountant
DECEMBER 2, 2024
Tax season is a big challenge for all accountants. You need to get information from clients, clean up their books, carefully review data, and export and/or check trial balances. “Busy season” is accurate.
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
CPA Practice
DECEMBER 6, 2024
American Express has issued its new Amex Trendex: Small Business Edition, finding that small businesses anticipate a period of stability in 2025, while they invest in technology to drive business growth. In 2024, small businesses demonstrated resilience in the face of uncertainty, reinforcing confidence in their ability to grow through changing times, said Anna Marrs, Group President, Global Commercial Services at American Express.
Mark Lee
DECEMBER 2, 2024
Ever feel torn between wanting to fire a difficult client and worrying about losing their fees? You’re not alone. The higher the fees, the harder it is to cut the cord. It’s a classic accountant’s dilemma—and one worth addressing before it drains your energy and confidence. It is a topic that often comes up in my conversations with mentoring clients and we’ve also discussed it in detail during a meeting of the Sole Practice Club.
Accounting Today
DECEMBER 6, 2024
Barry Melancon, the longest-serving head of the AICPA, talks about how he got there, his accomplishments, and what's next for the profession.
Withum
DECEMBER 6, 2024
On December 3, 2024, the United States District Court for the Eastern District of Texas issued a nationwide preliminary injunction against the enforcement of the Corporate Transparency Act (CTA), temporarily halting Beneficial Ownership Information (BOI) reporting to the Financial Crimes Enforcement Network (FinCEN) until further notice. Case Background The case, Texas Top Cop Shop, Inc., et al. v.
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Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.
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