CPA Practice

JUNE 17, 2024

By Arianna Campbell. With another busy season in the rearview mirror, many firms are looking ahead to next year. What went well this busy season? What could use some improvement? Now is the time to make changes to your technology and processes that will set you up for success in 2025 and beyond. To help you identify these opportunities, we’ve identified five trends for process improvement that leaders in the accounting profession should be aware of to ensure their firms remain at the forefront.

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Technology Account accountant accounted 129

Going Concern

JUNE 18, 2024

320%. That’s how much the number of non-equity partners at INSIDE Public Accounting Top 100 firms — excluding Big 4 — has grown over the past 15 years. Equity partners at these firms, however, have grown only 85% in that same time period. The IPA Top 100 minus Big 4 starts at RSM with $3.7 billion in revenue and ends with a Wayne, PA firm called Global Tax Management with $48.8 million.

public accounting 118

public accounting Pennsylvania CPA accounting firms 118

Xero

JUNE 20, 2024

As a business owner, would you be happy or sad if you got a hundred new clients tomorrow? Getting more business sounds exciting, but can be daunting if bookkeeping and accountancy practices aren’t set up to scale effectively. There is a slow but steady shift towards value-based pricing, rather than traditional hourly billing. If you want to adopt a pricing model based on the value you offer and the outcomes you deliver, where do you start?

bookkeeping services 77

bookkeeping services bookkeeping Account accountant 77

CPA Practice

JUNE 17, 2024

By Melissa Angell, Inc. (TNS) Small businesses still vying for pandemic-era employee retention credits they haven’t received could have another course of action to nab their money sooner. A provision in the tax code allows taxpayers who have filed refund claims to sue the Internal Revenue Service if they have not heard from the agency within six months, or their claim was denied and they believe it to be legitimate.

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Idaho Tax Legal 115

Speaker: Gary Dmitriev

Automation promises increased efficiency and reduced costs, but how do you sift through the hype to find the right solution for your organization? Our upcoming webinar aims to demystify the process of selecting and implementing automation tools. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals.

Technology

Accounting Today

JUNE 17, 2024

The Internal Revenue Service is targeting the use of basis shifting between related parties as a way for partnerships to avoid paying taxes, setting up a new unit within the Office of Chief Counsel to develop guidance aimed at closing tax loopholes.

Tax 128

Tax audit 128

Canopy Accounting

JUNE 18, 2024

Accounting is facing a major issue: a shortage of 340,000 accountants. It’s not just public accounting firms experiencing the talent crunch, even Fortune 500 companies are, as errors in earnings reports have shaken investor confidence. Electric truck maker Rivian mistakenly reported a 147% increase in deliveries in Q4, when this figure actually pertained to the annual increase, not just the quarter.

public accounting 98

public accounting accounting firms Account accountant 98

Accounting Today

JUNE 20, 2024

We've been talking about the burnout crisis for decades, but the talk needs to turn into action.

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Account accountant accounted 132

CPA Practice

JUNE 20, 2024

Vince Golle Bloomberg News (TNS) U.S. mortgage rates declined below 7% last week for the first time since March, spurring back-to-back increases in financing applications for home purchases. The contract rate on a 30-year fixed mortgage decreased 8 basis points to 6.94% in the week ended June 14, according to Mortgage Bankers Association data released Wednesday.

Finance 116

Finance Government Retail 116

Insightful Accountant

JUNE 19, 2024

The IRS is turning to AI to help select tax returns for audits, aiming to narrow the tax gap. A recent GAO report emphasizes the need for consistent and transparent use of this technology.

tax return 105

tax return audit Tax 105

TaxConnex

JUNE 18, 2024

Six years ago this Friday, the U.S. Supreme Court decided, narrowly, to complicate life for online sellers. In the landmark 2018 case South Dakota v. Wayfair, Inc. et al, the Court determined that an out-of-state seller could establish “nexus” through just economic activity. (Nexus is an economic presence that triggers the obligation to collect and remit tax or at least communicate with appropriate states.

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South Dakota North Dakota Alabama Tax 169

Speaker: Aaron Jacob, VP of Accounting Solutions & Reagan Cook, GTM Lead

Are you struggling to navigate the complexities and challenges that come with crypto accounting? 🤔 This new webinar will cover everything businesses need to know to get started with crypto accounting after incorporating crypto into their business models! Industry experts Aaron Jacob and Reagan Cook of TaxBit will thoroughly explore the prevalent operational hurdles encountered by accounting teams when interacting with crypto on the books, and detail how software solutions can effectively

Account

BurklandAssociates

JUNE 18, 2024

From valuation to term sheet to exit strategy alignment, a startup’s Series A round involves careful consideration of several critical factors. The post The Startup Founder’s Guide to Evaluating a Series A Round appeared first on Burkland.

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Accounting Today

JUNE 20, 2024

The Internal Revenue Service plans to begin slowly paying some of its older claims for the fraud-plagued Employee Retention Credit this summer but is not lifting its moratorium.

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Tax 132

Withum

JUNE 21, 2024

Many dealerships’ operations were brought to a halt due to the second cyberattack on CDK Global software and its impact is still being felt today. “Late in the evening of June 19, we experienced an additional cyber incident and proactively shut down most of our systems,” CDK said in a statement per CNN. CDK provides over 15,000 dealerships software to support dealer operations.

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Legal Sales financial statements Tax 116

Going Concern

JUNE 20, 2024

CliftonLarsonAllen announced today that for the second year in a row, a group of high school students aged 16-18 will be joining the usual college interns at the firm this summer. And yes, they’re getting paid. CLA’s high school intern class of 69 people will be working across 14 offices: Baltimore, Charlotte, Chicago, Des Moines, Indianapolis, Philadelphia, Milwaukee, Minneapolis, Nashville, Phoenix, Boston, Seattle, Tampa, and Toledo.

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CPA Account accountant accounted 115

Advertiser: Paycor

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CPA Practice

JUNE 19, 2024

By Jim Wesloh U.S. government contracts account for over $700 billion annually , a significant portion of which hinges on the ability for contractors to “establish and maintain an acceptable accounting system” which includes “timekeeping” and “labor distribution.” Failure to maintain an acceptable accounting system may result in the withholding of payments from the government to a contractor.

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Government general ledger audit accounting system 115

Accounting Today

JUNE 19, 2024

The unpredictable nature of digital assets stands out as both a defining characteristic and a significant challenge for investors and accounting professionals alike.

accounting principles 135

accounting principles Account accountant accounted 135

Patriot Software

JUNE 19, 2024

Canton, OH Patriot Software’s founder and former CEO, Mike Kappel has introduced that Kyle Dreger is the new CEO of Patriot Software, effective immediately.

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Insightful Accountant

JUNE 20, 2024

Some ProAdvisors feel odd about nominating themselves, you really shouldn't. more than 70% of those achieving award status in our 2024 process were self-nominees. Murph tells you the advantages of self-nomination in today's feature.

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CPA Practice

JUNE 19, 2024

Competition for top talent is tough across all sectors. This is particularly true in finance, given the number of opportunities for recent graduates, spanning fintech, wealth management, accounting and financial analysis. Here’s a snapshot of 2024 finance graduates and some strategies on how to attract the best talent. Finance graduate job market trends Even though traditional careers in finance like analysts and advisors are always in high demand, the graduate job market in this profession is u

accounting and finance 115

accounting and finance Education Finance management accounting 115

Accounting Today

JUNE 17, 2024

The National Pipeline Advisory Group's recommendations cover a wide range of ways to attract more people to the profession, and Jennifer Wilson walks us through what everyone can do to help.

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Account accountant accounted 128

Cherry Bekaert

JUNE 18, 2024

Contributor: Nick Cousino, Senior Manager A new South Carolina tax credit that encourages private parties to expand the state’s ever-growing trail system went into effect May 13. South Carolina taxpayers who encumber their property with a perpetual recreational trail easement and right-of-way are allowed a one-time income tax credit equal to ten cents for each square foot of the property that is encumbered by the recreational trail easement.

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South Carolina Real Estate Tax income tax 106

Going Concern

JUNE 18, 2024

Deloitte has released their third Well-being at Work Survey and guess what? The workers aren’t so well. Here’s a fun figure from the survey of 3,150 C-suite executives, managers, and workers across four countries for you: Only 43% of workers say their organizations have left them better off than when they started. Well-being isn’t doing so well either.

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Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

CPA Practice

JUNE 20, 2024

By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) In a long-awaited ruling, the U.S. Supreme Court upheld a tax on unrealized gains, affirming the constitutionality of a mandatory repatriation tax introduced by the Tax Cuts and Jobs Act (TCJA). In upholding the tax, Justice Brett Kavanaugh, writing for the majority stated, “The MRT—which attributes the realized and undistributed income of an American-controlled foreign corporation to the entity’s American shareholders, and then taxes t

Tax 110

Tax income tax Agriculture Washington 110

Accounting Today

JUNE 21, 2024

The Internal Revenue Service released a revised draft version of Form 6765, the Credit for Increasing Research Activities, in response to feedback.

Tax 120

Tax 120

Insightful Accountant

JUNE 19, 2024

The final day of Scaling New Heights has always brought with it the announcement of the following year's event, and this year was no different.

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Withum

JUNE 18, 2024

Withum is proud to share that Karol Y Haugan , Tax Manager, was nominated for the Florida Institute of Public Accountants (FICPA) 2024 Woman to Watch Awards in the Emerging Leader category. The FICPA’s Women to Watch Awards is an annual program that recognizes outstanding women in the accounting profession, celebrating two categories of emerging and experienced leaders.

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Florida accounting degree Education CPA 98

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

Technology

CPA Practice

JUNE 21, 2024

The Internal Revenue Services says that, following a detailed review, it expects to deny tens of thousands of improper high-risk Employee Retention Credit claims while starting a new round of processing lower-risk claims to help eligible taxpayers. “The completion of this review provided the IRS with new insight into risky Employee Retention Credit activity and confirmed widespread concerns about a large number of improper claims,” said IRS Commissioner Danny Werfel.

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Tax audit tax return Government 108

Accounting Today

JUNE 18, 2024

The Internal Revenue Service is easing the rules for claiming a tax refund tied to a claim for the research and development tax credit.

Tax 129

Tax 129

Randal DeHart

JUNE 21, 2024

In the construction industry, unexpected challenges can arise at any moment. Numerous factors, from material delays to unforeseen weather conditions, can disrupt project timelines and budgets. From terrorism to fire, from extreme weather or earthquakes to cyber-attacks – how would your business cope if it was affected? Would your staff know what to do?

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Construction 93

GrowthForceBlog

JUNE 21, 2024

9 min read June 21st, 2024 Last year, the global ERP software market was valued at $71.41 billion, and it's estimated to expand from 2024's $81.15 billion to $238.79 billion by 2032. More than 70% of large businesses use ERP software , and more than 53% of businesses experience a positive ROI as a result of implementing ERP solutions. Key Takeaways What Is ERP: The term "enterprise resource planning” refers to a platform that integrates multiple software systems to facilitate the global manageme

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Account accountant accounted bookkeeping 94

Advertiser: Paycor

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