CPA Practice
AUGUST 22, 2023
By David Osborne. A global accounting industry survey of more than 6,000 accountants and auditors conducted earlier this year revealed the No. 1 challenge respondents currently face is attracting and retaining skilled talent. Like most sectors, the accounting industry is feeling the effects of the shift in the labor market as workers quit their jobs in search of better roles and greater job satisfaction.
TaxConnex
AUGUST 24, 2023
Sales tax automation has come a long way since the Quill vs. North Dakota case in 1992. Now, even the smallest multi-state businesses and startups have access to sales tax automation options that lower costs and ease the burden of compliance. AI is even making it’s way into the sales tax world, but how much do you trust an automated bot or machine with your sales tax obligations?
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BurklandAssociates
AUGUST 24, 2023
We are at a pivotal point in our lives technology-wise. Artificial Intelligence is taking the markets by storm and has become a tool that almost anyone can use with just Read More The post Managing AI & ChatGPT in the Workplace appeared first on Burkland.
CPA Practice
AUGUST 23, 2023
When it comes to a corporation’s relationship with its accounting firm, the firm itself is less important than the partner who leads its engagement team in lowering its tax rate, according to a new study from Iowa’s Tippie College of Business. The study found that the partner has twice as great an impact on the firm’s cash effective tax rate than did their firm.
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.
Accounting Today
AUGUST 21, 2023
If partners do not have a buy-sell agreement and one of them dies or is suddenly disabled, there will be problems between the survivors and the family of the affected partner.
Going Concern
AUGUST 23, 2023
Thomson Reuters recently spit out its Future of Professionals special report , a survey of more than 1,200 professionals working in the legal, tax & accounting, global trade, risk, and compliance fields who are employed at firms, corporate in-house departments, and government agencies based in North America, South America, and the United Kingdom.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
ThomsonReuters
AUGUST 22, 2023
Audio streaming and media services provider Spotify was founded in Stockholm, Sweden in the spring of 2006 and launched in the United States in 2011 after already solidifying a presence in the United Kingdom, Germany, France, Italy, Spain, Finland, and Norway. The company’s expansion continued rapidly with a global reach to 65 countries by March 2018 and further expansion to more than 80 markets in 2021, including locations across Africa, Asia, and the Caribbean.
Accounting Today
AUGUST 24, 2023
The institute sent comment letters requesting changes in two forms used to report on foreign trusts, and guidance on energy credits and advanced manufacturing investment credits.
AccountingDepartment
AUGUST 22, 2023
In the pursuit of business growth and expansion, establishing a strong and effective financial management system becomes imperative. This encompasses precise record-keeping, timely reporting, and adherence to regulatory obligations. To effectively navigate growth and focus on core business activities, many organizations are turning to outsourced client accounting services.
TaxConnex
AUGUST 22, 2023
Construction contractors have a tough job these days, given labor shortages, supply-chain headaches and mushrooming regulation. If you’re in this industry, the last thing you need added to your load is sales tax. Generally, a business in the construction industry is performing a service, and most services are excluded from sales and use tax. But sales tax has to be your concern if you engage in contracts in different states.
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.
CPA Practice
AUGUST 25, 2023
The IRS on Wednesday released an updated applicable percentage table used to determine a person’s premium tax credit for 2024. The Affordable Care Act’s premium tax credit was created to help lower- and middle-income Americans pay for health insurance purchased through the healthcare marketplace ( HealthCare.gov ). Health insurance can also be purchased through some state exchanges.
Withum
AUGUST 25, 2023
Withum is excited to share that John Sheehy, JD, and Principal within the Forensics and Valuation Services Team, will lead the Firm’s Investigative and Corporate Intelligence Services Group. Formerly a Special Agent, Crisis Negotiator and Supervisor at the Federal Bureau of Investigation, John has a complex and comprehensive understanding of white-collar crime and fraud.
Going Concern
AUGUST 25, 2023
The ranking enthusiasts at INSIDE Public Accounting have dropped their much-anticipated 2023 Best of the Best list and because there’s nothing we at Going Concern love more than a dick revenue-measuring contest, we are thrilled to share the results with you. First, let’s get the “what even is this list” explanation out of the way.
Accounting Today
AUGUST 24, 2023
Internal Revenue Service employees weren't always following the proper rules when it came to directly contacting taxpayers instead of their representatives like accountants and attorneys.
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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.
CPA Practice
AUGUST 25, 2023
Despite rocky economic conditions and pressures within organizations to cut down on travel costs, business travel is making an unexpected and robust comeback. According to Capterra’s 2023 Travel Survey, 46% of business travelers report going on more trips than before the pandemic—on average, they travel six times a year, with trips lasting about three days.
ThomsonReuters
AUGUST 25, 2023
Jump to: How does depreciation affect corporation taxes? Accelerated depreciation for corporations How does depreciation work in an S corporation? What is the purpose of making a provision for depreciation? What is the depreciation guidance for corporate alternative minimum tax? Managing corporate tax depreciation Each tax season, business clients turn to their accountant for assistance in navigating corporation tax depreciation and leveraging every tax deduction they can take to min
Going Concern
AUGUST 24, 2023
By Sharon Lassar, PhD, CPA (Florida) John J. Gilbert Professor and Director of the School of Accountancy, University of Denver A friend asked why I believe the 150-hour requirement is more of a barrier of entry to the accounting profession than a 120-hour requirement with added experience. That is a great question. Although, it does not matter what I think.
Accounting Today
AUGUST 22, 2023
Only 17% of executives now anticipate a recession, according to a survey released Tuesday by PricewaterhouseCoopers, and 74% believe they can attract and retain the talent they need.
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
CPA Practice
AUGUST 25, 2023
The IRS said Friday that interest rates will go up for the fourth quarter of 2023 , which begins on Oct. 1. The last time the agency increased interest rates was for the first quarter of this year when the rate for tax overpayments and underpayments was 7% per year, compounded daily, up from 6% for Q4 2022. Interest rates had stayed the same in Q2 and Q3 of this year.
Withum
AUGUST 23, 2023
On July 31, 2023, the U.S. Securities and Exchange Commission published a Risk Alert to their broker-dealer members regarding Anti-Money Laundering (AML) compliance examinations and related issues. The Division of Examinations’ Risk Alert reiterated the need for registered broker-dealers to establish and maintain sound AML programs for each firm designed to mitigate risks in the financial system.
Going Concern
AUGUST 23, 2023
Ed. note: The following is a guest post by Liz Kolar, EVP at Surgent. It is of particular interest to professors, accounting department chairs, other assorted academics, and any accounting profession meteorologists who are tracking the perfect storm of pipeline problems and a completely revamped CPA exam debuting in just a few months. Comments from all perspectives are welcome.
Accounting Today
AUGUST 25, 2023
In an era where technological advancements redefine our day-to-day activities, artificial intelligence and machine learning have emerged as transformative forces in various sectors.
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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.
CPA Practice
AUGUST 25, 2023
Becky Livingston has unveiled her latest book, “The B2B Marketer’s Guide to AI: Strategies, Tactics & Tools for Success.” This insightful and timely work marks the author’s fourth published title and aims to bridge the knowledge gap in the intersection of B2B marketing and the ever-evolving world of artificial intelligence. With AI transforming industries at an unprecedented pace, business-to-business marketers can no longer afford to stay on the sidelines.
Ryan Lazanis
AUGUST 23, 2023
As new ideas and features emerge, it’s all too easy for the initial project boundaries to expand far beyond their intended limits. In this episode, I discussed nine key strategies that I have tested in the field to effectively prevent scope creep. Listen Below. 0:43 Scope creep or out-of-scope work is defined as performing tasks not outlined in the client agreement.
Going Concern
AUGUST 23, 2023
Last year, 950 PwC UK equity partners were treated to record-breaking £1 million pound ($1.2 million) payouts, effortlessly beating the 2020 high of £868,000 and quite a leap from £765,000 in 2019. Sadly for them they won’t be cruising right past a million this year. Reports The Guardian : More than 1,000 partners at the UK division of the “big four” accounting firm PwC will be paid £906,000 this year, a slight fall on last year’s record payout as profits fell despite rising revenues.
Accounting Today
AUGUST 21, 2023
Henry Gabay, founder of a now defunct London-based asset manager, told a German court that he's innocent and that the "devastating" Cum-Ex charges against him are built on lies by his former business associates.
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.
CPA Practice
AUGUST 23, 2023
By Jennifer Arbore. From perfecting the art of virtual fundraising and volunteering to implementing fresh social media strategies, creating innovative donor retention programs and driving their missions forward despite a myriad of ongoing global challenges, today’s nonprofits are dealing with a complicated and quickly evolving landscape. That’s why operations need to be as simple as possible.
ThomsonReuters
AUGUST 25, 2023
Jump to: What is software depreciation? How is software depreciated for tax purposes? Can software be amortized? Internal use vs. external use software Solutions for managing software depreciation for taxes In today’s tech-driven environment, companies need software to efficiently run their business, whether it is software they purchase from an outside source or develop internally.
Going Concern
AUGUST 22, 2023
Why is it every time mainstream media writes about accountants they just have to drag the stereotypes into it? Across the pond publication Evening Standard didn’t even try to hide it when writing up World Athletics Championships 100m badass Eugene Amo-Dadzie, ‘boring’ appears in the lede. It’s still a charming story. Everyone, meet the world’s fastest accountant.
inDinero Tax Tips
AUGUST 22, 2023
Is business rent tax deductible? Yes, business rent is tax deductible under qualifying circumstances. That’s a good thing too, since rent is often among an organization’s largest overhead expenses. As part of our ultimate guide to business expenses and tax deductions , this article will run through different types of rental tax deductions, who qualifies, what to avoid, and ultimately how to claim the deduction.
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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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