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: 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
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.
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.
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.
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.
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
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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.
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.
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.
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.
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.
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
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.
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 27, 2024
The Public Company Accounting Oversight Board is proposing a new rule to prevent auditing firms from making false or misleading statements about being registered or overseen by the PCAOB.
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.
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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.
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.
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
The ability to write off research and development expenses in the first year would be revived if the Senate ever manages to pass the Tax Relief for American Families and Workers Act.
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?
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.
CTP
FEBRUARY 29, 2024
American gaming has boomed since sports betting and online gambling were legalized. Complex tax laws for filing and deducting gambling winnings and losses provide new hurdles for taxpayers. Internal Revenue Service (IRS) reporting rules from W-2Gs to 1099-Ks are very confusing for taxpayers to understand. So, as an accountant of a gambling client, you need to have detailed knowledge about gambling winnings and losses, as well as all the rules and regulations related to tax on gambling income.
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
FEBRUARY 26, 2024
Planners who recommend the increasingly popular charitable vehicles could face penalties for what's currently a pretty common practice in the industry, experts say.
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 (
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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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