Canopy Accounting
FEBRUARY 25, 2024
Your clients count on you to handle their tax issues, and you’ve earned that trust through transparency, customer service, and demonstrating your expertise. When preparing a client’s tax return , you must exercise due diligence and good faith, all while staying up-to-date on all IRS policies and guidelines. If you do not follow the IRS rules for preparing returns, you could be liable for penalties and fines.
TaxConnex
FEBRUARY 27, 2024
Your sales tax obligations depend on knowledge and that knowledge often resides in a professional tax specialist (usually an accountant) who helps your company meet its sales tax obligations. This is a complicated time for sales tax obligations – and a terrible time to try to hire an accountant. Accounting is beset by a triple threat: a looming wave of retirement, a lingering great resignation of younger professionals and a talent pipeline of new graduates that’s slowing to a trickle.
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RogerRossmeisl
FEBRUARY 25, 2024
Businesses basically have two accounting methods to figure their taxable income: cash and accrual. Many businesses have a choice of which method to use for tax purposes. The cash method often provides significant tax benefits for eligible businesses, though some may be better off using the accrual method. Thus, it may be prudent for your business to evaluate its method to ensure that it’s the most advantageous approach.
CPA Practice
FEBRUARY 28, 2024
Here’s some news from the labor market that’s both good and bad for CPA firm leaders and other employers of accounting and finance talent. A Robert Half survey found that only 27% of workers in the profession are planning to look for a new job in the next six months. In a similar survey our company conducted in mid-2023, that figure was significantly higher — 41%.
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.
Accounting Today
FEBRUARY 28, 2024
The 83 publicly disclosed accounting and auditing enforcement actions represented the highest number of actions initiated since FY 2019.
Insightful Accountant
FEBRUARY 26, 2024
Continuing education is essential for tax practitioners, not just for credits but for career success and organizational growth.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
Insightful Accountant
FEBRUARY 28, 2024
With millions of tax refunds going out each week, the IRS reminded taxpayers today that recent improvements to “Where's My Refund?” on IRS.gov provide more information and remains the best way to check the status of a refund.
Going Concern
FEBRUARY 25, 2024
*and saleswomen This person on r/Big4 seems to have had an epiphany that partners are better at people-ing than they are at the technical aspects of the firm’s business. Quite the revelation! Why does it feel like the people who make it to partner are better at schmoozing than accounting? by u/TheU_isBack in Big4 Take note, overachievers and aspiring partners: Technical skill matters most when you’re in the trenches.
TaxConnex
FEBRUARY 29, 2024
Happy Leap Day! While not at all related to sales tax, we thought that as we spend a day to align our seasons and the Earth’s orbit of the sun, we should also discuss how to ensure your processes align with maintaining sales tax compliance in 2024! LEAP into compliance with us as we discuss 4 specifics that need to be considered in order to maintain your compliance in 2024, and beyond.
RogerRossmeisl
FEBRUARY 25, 2024
When you file your tax return, a tax filing status must be chosen. This status is used to determine your standard deduction, tax rates, eligibility for certain tax breaks and your correct tax. The five filing statuses are: Single Married filing jointly, Married filing separately, Head of household, and Qualifying surviving spouse. If you’re married, you may wonder if you should file joint or separate tax returns.
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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.
BurklandAssociates
FEBRUARY 28, 2024
New specialty consulting area provides accounting expertise and financial guidance tailored to the needs of Clean Energy startups. The post Burkland Expands Services for Clean Energy Startups appeared first on Burkland.
Accounting Today
MARCH 1, 2024
The lack of help means current accountants' hours and workloads can be grueling, upping the odds of mistakes and burnout.
Going Concern
FEBRUARY 29, 2024
For posterity’s sake, here’s what the IRS says about its open Employee Retention Credit (ERC) investigations as of January 25: That’s nine open investigations, 123 under review, and anyone who comes forward to say they took ERC money they weren’t entitled to before the Voluntary Disclosure Program closes on March 22 will have to give up the name of the promoter that encouraged them to take the credits.
RogerRossmeisl
FEBRUARY 25, 2024
Did you make large gifts to your children, grandchildren or others last year? If so, it’s important to determine if you’re required to file a 2023 gift tax return. In some cases, it might be beneficial to file one — even if it’s not required. Who must file? The annual gift tax exclusion has increased in 2024 to $18,000 but was $17,000 for 2023. Generally, you must file a gift tax return for 2023 if, during the tax year, you made gifts: That exceeded the $17,000-per-recipient gift tax annual excl
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.
Acterys
FEBRUARY 29, 2024
Power BI Integration and Enhancements Have Brought a New Perspective Into the Market (Chicago, Il., February 27, 2024) — Acterys, a leading provider of enterprise performance management (EPM) solutions, is proud to be selected as a challenger in the 2024 Hackett Digital World Class Matrix. This inclusion represents another significant step forward in Acterys’ journey to simplify the EPM landscape and provide customers with unparalleled efficiency, accuracy, and flexibility.
Accounting Today
FEBRUARY 26, 2024
The lowest-ranked states have property and unemployment insurance taxes like every state, but significantly they also have complex, non-neutral taxes with comparatively high rates.
Going Concern
FEBRUARY 29, 2024
What the f**k is this?? 2022 PCAOB Inspection of KPMG LLP [ PDF ] WSJ doesn’t know why it was redacted either. NO ONE DOES. We’ve got some more inspection reports to dig into shortly, lots of them. EY, PwC, Deloitte, GT, BDO, RSM, Moss Adams…does anyone want to know all that? We were warned last year that this batch of PCAOB inspection reports would be “completely unacceptable” but no one said they would be completely unknowable.
CPA Practice
MARCH 1, 2024
With a lot of unreliable information on social media, the IRS has issued list of myths and facts about 1099-K forms to help taxpayers with filing: what to do with Form 1099-K. Following feedback from partners and to help avoid taxpayer confusion, the IRS announced in Nov. 2023, that the reporting threshold for Form 1099-K, Payment Card and Third Party Network Transactions , would not change for 2023.
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.
Anders CPA
FEBRUARY 26, 2024
Face your Retail Lending Test with confidence backed by to-the-minute research on an evolving regulation Wednesday, March 27 at 10:00am CT The new Retail Lending Test was introduced as part of the Community Reinvestment Act (CRA) final rule and its implementation will have considerable impact on large and intermediate-sized banks, in addition to the small banks who opt-in.
Accounting Today
FEBRUARY 26, 2024
The Federal Trade Commission filed a complaint against tax prep giant H&R Block accusing the company of deceptively marketing "free" online tax filing when its products often were not free and deleting consumers' data when they tried to downgrade to less expensive products.
Withum
FEBRUARY 29, 2024
Withum is excited to share that local business publication NJBI Z has named Alexander Smit , Associate Investment Advisor, on the 2024 Leaders in Finance list. The NJBI Z Leaders in Finance Awards celebrate local finance professionals with outstanding reputations in the industry and in their communities. Lex is part of the Withum Wealth Management Team, specializing in Financial Planning.
CPA Practice
MARCH 1, 2024
The Internal Revenue Service has announced a new effort focused on high-income taxpayers who have failed to file federal income tax returns in more than 125,000 instances since 2017. The new initiative, made possible by Inflation Reduction Act funding, begins with IRS compliance letters going out this week on more than 125,000 cases where tax returns haven’t been filed since 2017.
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.
Going Concern
FEBRUARY 27, 2024
If you’re a high school student and future accounting major hoping to receive your undergraduate education from a friendly chatbot, we’re sorry to say that won’t be happening any time soon. A study authored by Charles Darwin University Professor of Accounting Indra Abeysekera and published in Journal of Open Innovation: Technology, Market, and Complexity examined how well ChatGPT can explain the solutions to problems and found it’s about as good as a terrible professor.
Accounting Today
FEBRUARY 28, 2024
Start by identifying the why, who and how to make the most of every change.
RogerRossmeisl
FEBRUARY 25, 2024
Although financial statement fraud is the least common form of occupational theft (9% of incidents), it costs organizations the most in financial losses, according to the Association of Certified Fraud Examiners. Businesses defrauded by financial statement schemes had median losses of $593,000. Early revenue recognition, which distorts profits and can artificially boost a business’s financial profile, is popular among financial statement fraud perpetrators.
CPA Practice
MARCH 1, 2024
A new study from Paychex, Inc. reveals the benefits and challenges of artificial intelligence in the human resources industry, and how opinions on its use and effectiveness differ between HR professionals and employees. The first in a new series of 2024 Pulse of HR Reports entitled “Balancing Tech and Touch in Human Resources,” found that 41% of employees surveyed prefer less AI involvement in their company’s HR processes, while more than half are content with the current (39%) or an increased (
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
Going Concern
MARCH 1, 2024
As it’s the first Friday of March, today is Employee Appreciation Day. I never would have known had I not seen this tweet from Marcum because the company I work for doesn’t do things like thank us for doing our job on social media. Happy #EmployeeAppreciationDay to our incredible team! Today and every day, we celebrate the hard work and passion each of you brings to the Firm.
Accounting Today
MARCH 1, 2024
The IRS is planning to offer its free tax prep system around the clock next week and open it to a larger group of outside testers.
Insightful Accountant
FEBRUARY 28, 2024
The Tax Relief for American Families and Workers Act is delayed in the Senate but may progress soon. If passed, tax law changes could impact mid-tax season.
CPA Practice
FEBRUARY 28, 2024
Updated: Feb. 28, 2024. The IRS started accepting and processing income tax returns on January 29, 2024. The deadline to file returns in 2024 is April 15 (this sometimes varies based on weekends or state holidays). This article includes a handy reference chart taxpayers can use to estimate how soon they may get their income tax refund. “ When will I get my tax refund?
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