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More than half of C-suite and other executives (51.6%) expect an increase in the number and size of deepfake attacks targeting their organizations’ financial and accounting data – otherwise known as deepfake financial fraud – during the next 12 months, according to a new Deloitte poll. That increase could impact more than one-quarter of executives in the year ahead, as those polled report that their organizations experienced at least one (15.1%) or multiple (10.8%) deepfake financial fraud incid
Build a solid financial foundation for your startup’s future with these annual financial planning resources from Burkland’s blog. The post Annual Financial Planning Resources for Startups appeared first on Burkland.
I was excited to sit down at Xerocon Nashville recently with Ashley Francis, a CPA with almost 25 years of experience, who has become an accounting expert on using artificial intelligence. Based in the US, Ashley is a well-known speaker, teacher and writer in the accounting industry on the value of incorporating generative AI (GenAI) and automation into practices.
Getting the right sales tax on your invoice is a pivotal step in managing your sales and use tax obligation. Sales and use tax is a tax imposed on the use or consumption of a product or service and meant to be paid by the end consumer. In certain situations (when you have sales tax nexus), it is your obligation to collect and remit it. Unfortunately, this is easier said than done.
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
As Congress reconvenes this month, tax practitioners find themselves navigating an uncertain legislative landscape with the looming threat of a government shutdown and its potential impact on year-end tax legislation.
The Department of the Treasury and the Internal Revenue Service have issued proposed regulations PDF for Tribal General Welfare Benefits. Section 139E of the Internal Revenue Code was enacted by the Tribal General Welfare Exclusion Act of 2014 and excludes from gross income the value of any Tribal General Welfare Benefit. As described in the Consultation and Federal Feedback summary PDF , the proposed regulations are the result of long-term efforts by Treasury, IRS, the Treasury Tribal Advisory
The Department of the Treasury and the Internal Revenue Service have issued proposed regulations PDF for Tribal General Welfare Benefits. Section 139E of the Internal Revenue Code was enacted by the Tribal General Welfare Exclusion Act of 2014 and excludes from gross income the value of any Tribal General Welfare Benefit. As described in the Consultation and Federal Feedback summary PDF , the proposed regulations are the result of long-term efforts by Treasury, IRS, the Treasury Tribal Advisory
Navigating the IRS appeals process can be daunting, but understanding the steps involved and knowing how to effectively present your case can significantly improve your chances of a favorable outcome. This comprehensive guide will walk you through the IRS appeals process, detailing each step and explaining how our representation tax firm can assist you.
At GranthamPoole, the sales process is integral to onboarding and starts with the very first meeting with a prospect. This is the initial chance in which the team can listen to the client.
An income statement, also known as a profit and loss (P&L) statement, is a crucial financial document that provides a detailed summary of a company's revenues, expenses, and profits or losses over a specific period. While many business owners focus on revenue growth, an accurate income statement offers deeper insights into the financial health of a business.
Various outlets in India have reported today that the mother of Anna Sebastian Perayil, a 26-year-old Chartered Accountant who tragically passed away on July 20, has sent a scathing email to EY India Chairman and Regional Managing Partner Rajiv Memani accusing the firm of callous indifference in the death of their young employee. The mom, Anita Augustine, said that her daughter, who “excelled in everything she did,” was too young to set boundaries and thus experienced an “overw
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
By Isaac Bock. The new tax season of 2024 brings multiple changes and updates, which makes it a rather challenging time for all tax professionals. At a minimum, tax professionals need to stay sharp and up to date with the laws and regulatory requirements that change from year to year. This year is marked by unique challenges under tax law, with new IRS regulations and sector-specific concerns.
As a plan sponsor, staying informed about the latest regulations and industry trends is crucial to the success of your employee benefit plan as we navigate through employee benefit plan filing season. Adhering to regulatory requirements and ensuring compliance to avoid potential penalties are priorities for plan sponsors with employee benefit plan audits.
We know how important it is for small businesses to have access to powerful insights to help them run their business better, no matter the economic environment they’re facing. To accelerate our mission to provide powerful insights, we are thrilled to share that Xero is acquiring Syft, a leading global cloud-based reporting, insights and analytics platform for small businesses, accountants and bookkeepers.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
National Taxpayer Advocate Erin Collins issued a mea culpa admitting to the findings of a recent report faulting the Taxpayer Advocate Service that she runs for slow responsiveness to taxpayers.
Three people who blew the whistle on a longstanding tax evasion scheme will share a $74 million payout from the IRS, one of the largest awards in the history of the agency’s whistleblower program. The individuals, whose identities remain protected, disclosed an offshore tax evasion scheme that spanned 15 years, enabling the IRS to collect $263 million from an unidentified individual, Bloomberg reported.
A tipster let us know about some layoffs going down at RSM this morning: There are a large amount of layoffs going on at RSM, specifically in the D365 practices, Risk Cyber Security, and MC (management consulting practices). Meetings were scheduled yesterday via Webex, not MS Teams, which is interesting as the firm uses MS Teams for all communications.
Worker misclassification remains a significant issue in the U.S. labor market, with substantial implications for both workers and employers. Misclassification occurs when businesses improperly classify workers who should be employees as independent contractors. This can lead to severe penalties, legal challenges, and back taxes for businesses. Recent efforts by the IRS and the Department of Labor (DOL) highlight the growing scrutiny on this issue and the necessity for businesses to take proactiv
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
The Internal Revenue Service cautioned taxpayers to steer clear of promoters who claim their services are needed to handle unpaid debts, saying such businesses often charge excessive fees and often produce no results.
Hosts Randy Johnston and Brian Tankersley, CPA, review Supervizor , a continuous quality assurance system that helps accounting firm’s error-proof their client’s bookkeeping and curb fraud. Use the video player below to watch, or the podcast player below to listen to the podcast. Or use the below podcast player to listen: Transcript (Note: There may be typos due to automated transcription errors.
PwC China is currently sitting on the sidelines after Chinese regulators handed down a six month ban and $62 million in fines for the firm’s work on collapsed developer Evergrande. At least five clients have left since the news of the punishment came out on Friday despite PwC’s assurance (no pun) they would continue to work to the extent they’re allowed through the ban period.
The month-end is coming up and that means it is time to close. A monthly close can be a laborious process that is dreaded by some accounting and finance departments, but it doesn't have to be that hard!
Is your tech stack working for you—or are you working for it ? 🤖 In today’s world of automation and AI, technology should simplify workflows—not add complexity. Seamless integration and interconnectivity are key to maximizing productivity, optimizing workflows, and improving collaboration. Join expert Joe Wroblewski for a practical and insightful session on how you can build a smarter, more connected tech stack that drives efficiency and long-term success!
New research from IDC entitled, The Global Impact of Artificial Intelligence on the Economy and Jobs , predicts that business spending to adopt artificial intelligence (AI), to use AI in existing business operations, and to deliver better products/services to business and consumer customers will have a cumulative global economic impact of $19.9 trillion through 2030 and drive 3.5% of global GDP in 2030.
Are you struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of top remote accounting candidates without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires. TAX AND ACCOUNTING CANDIDATES FTE Tax and Accounting | Candidate ID #15191471 Certifications: EA in progress Education: BA Accounting Experience (years): 7+
When you have a small or mid-size business, one of the issues you can run into is not having all the departments a larger company would have. In other words, you might not have dedicated employees for HR, accounting, and other areas. Fortunately, there are ways to outsource a number of services, including client accounting services. This helps keep your company growing and succeeding, without the need to bring on more employees or overwork yourself to get everything done.
Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.
Payroll solutions provider Gusto has announced a new artificial intelligence-powered assistant called “Gus,” aimed at helping small business owners save time, get personalized insights, and make smarter decisions about their businesses. Gus can provide business owners with quick answers to their most frequently asked questions, such as their compliance requirements or what they need to do to file their taxes.
Monday already? Guess we should see what’s going on in the world. Can someone help me come up with a Vault-Tec joke for this story? Because I know it’s right there. "As it stands today, Deloitte is not known as a shipbuilder, nor is it clear it could meaningfully contribute to the construction of submarines." [link] — Going Concern (@going_concern) September 14, 2024 Speaking of Deloitte, the UK business is finally entering the modern age and extending equal family leav
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Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.
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