Accounting Insight

AUGUST 20, 2024

The accounting and bookkeeping industry has always been dynamic, with constant changes in regulations, client expectations, and technology. One critical area that often gets overlooked in the rush to provide excellent service is pricing. Are your fees keeping up with the value you provide? How do you compare to others in your industry? These are questions that every accountant and bookkeeper should be asking as we move into 2024.

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bookkeeping bookkeeping services Account accounted 59

Accounting Today

AUGUST 19, 2024

The shortage of buyers of small practices is because the potential buyers are not qualified to handle a small practice.

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Account accounted accountant 124

Ryan Lazanis

AUGUST 21, 2024

Niching is a powerful tool to cut through the noise. But should your firm do it? And if so, how? Listen to this episode to find out. The post Should Your Firm Niche? appeared first on Future Firm.

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accountant accounted Account 52

AccountingDepartment

AUGUST 19, 2024

Since its establishment in 2015, Rewind has been dedicated to empowering businesses to safeguard their valuable SaaS and cloud data. With an impressive customer base of over 100,000 across 100 countries, Rewind's highly acclaimed apps and unwavering support have become the go-to solution for ensuring the uninterrupted operation of software-as-a-service applications.

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accountant accounted Account 83

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.

Finance

Accounting Today

AUGUST 21, 2024

Both presidential candidates have floated it, and there are benefits for both workers and employers — though not always how you'd expect.

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Tax 128

CPA Practice

AUGUST 19, 2024

By Mark Luscombe, CPA, JD, LLM. U.S. Olympians have won 40 gold medals, 44 silver medals, and 42 bronze medals at the 2024 Olympic Games in Paris, for a total of 126 medals. And that is only half of it. With many events involving teams, relays and other multiple participants, the number of medals presented to U.S. athletes is over twice that number, with around 125 gold medals, 98 silver medals, and 93 bronze medals distributed to individual winning participants.

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Going Concern

AUGUST 20, 2024

Well New York-based EisnerAmper’s business plans couldn’t be any clearer based on the press release they put out announcing the acquisition of LA-area firm KROST. (Why KROST insists on yelling we couldn’t say) KROST may not be a well known headline-grabber and they’ve only got about 100 professionals on staff but they’ve been around since 1939.

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Real Estate Entertainment Sports Hospitality 109

TaxConnex

AUGUST 20, 2024

At first glance, the sales and use tax requirements for a contractor seem quite simple. Contractors are typically considered the end-user/consumer of all tangible personal property purchased and used by them in conjunction with the performance of a contract to improve real property. As such, all purchases by a contractor are usually subject to sales and use tax.

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Sales Tax Construction Education 264

BurklandAssociates

AUGUST 20, 2024

Increase trust with your board and improve meeting outcomes; key strategies for presenting crucial financial data. The post Financial Reporting for Board Meetings for Early-Stage Startups – Part 1, Reporting Best Practices appeared first on Burkland.

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Accounting Today

AUGUST 21, 2024

The Internal Revenue Service and its partners have identified half a dozen steps for safeguarding taxpayer information.

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Tax 135

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Technology

MyIRSRelief

AUGUST 23, 2024

Owing money to the IRS can be a daunting experience, but it’s important to know that you have options. The IRS offers several programs to help taxpayers manage their tax debt, including payment plans, offers in compromise, and other relief options. In this article, we will explore these options in detail and discuss how our representation tax firm can assist you in navigating these complex processes.

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TaxConnex

AUGUST 22, 2024

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Another RDFer? The state of Washington is inching toward instituting a retail delivery fee. “Analysis reveals that a fee in Washington of 30 cents per order could generate between $45 and $112 million in revenues in 2026, growing to between $59 and $160 million by 2030,” reads a recent report by the Washington State Joint Transportation Committee.

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CPA Practice

AUGUST 21, 2024

By Zach Mentz cleveland.com (TNS) The annual cost-of-living adjustment for Social Security benefits is expected to decrease in 2025, according to a new estimate. The Social Security cost-of-living adjustment (COLA) for 2025 is projected to be 2.57%, down from the 3.2% COLA implemented in 2024 , according to The Senior Citizens League. That figure also represents a decrease from 2.63% in July’s COLA estimate, but is equal to the 2.57% projected in TSCL’s June estimate.

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Accounting Today

AUGUST 19, 2024

Enforcement by the Public Company Accounting Oversight Board against auditors in 2024 is off to its fastest start in recent years.

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auditor Account accountant accounted 130

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.

payroll

Withum

AUGUST 21, 2024

Beneficial ownership information (BOI) reporting began on January 1, 2024. We previously wrote about the essentials of BOI reporting , and this article provides an update on where it stands now and what affected individuals and businesses should do to ensure compliance. There are many court cases winding through the Federal court system and one District Court in March 2024 declared the BOI reporting statute unconstitutional, but only as to the plaintiffs in that particular lawsuit.

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income tax tax services Tax Sales 118

Nancy McClelland, LLC

AUGUST 22, 2024

My cousin, Lt. Col. David Oclander , Battalion Commander, on the left. As regular readers know, I’m a big fan of the National Association of Tax Professionals. They generally provide top-notch education, and I appreciate the fact that they do not discriminate against non-credentialed tax pros. Before I became a CPA, that was where I got most of my continuing education, because organizations like AICPA or NAEA are restricted to those with licenses.

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tax planning Tax Education CPA 111

CPA Practice

AUGUST 19, 2024

The IRS is strongly urging qualifying businesses, tax-exempt organizations, and state, local, and Indian tribal governments to complete the pre-filing registration process now for projects placed in service in 2023 if they plan to claim elective pay. The Inflation Reduction Act and the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act of 2022 allow taxpayers to take advantage of certain manufacturing investment, clean energy investment, and production tax credits through electi

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tax return Tax Manufacturing Government 119

Accounting Today

AUGUST 19, 2024

A new coalition of tax authorities, industry groups and others is combining to stop tax-related schemes.

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Tax 128

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.

Finance

Withum

AUGUST 21, 2024

July 22, 2024, marked the end of the Drug Enforcement Administration’s (DEA public comment period regarding the proposed rescheduling of cannabis from a Schedule I to a Schedule III substance under the Controlled Substances Act (CSA). The cannabis industry is hyper-focused on the process as it has significant implications for the U.S. cannabis industry.

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Tax income tax Legal Finance 116

Going Concern

AUGUST 19, 2024

Tucked 22 pages deep into the Financial Reporting Council’s 2024 Annual Review of Audit Quality report , this no doy declaration. Several PIE and non-PIE audit firms in the UK have entered into private equity (PE) deals, and larger firms have also been approached periodically for discussions. We are closely monitoring this situation through our PIE Auditor Registration team and our supervisory engagement discussions with firms.

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audit auditor Finance 111

CPA Practice

AUGUST 23, 2024

While millions of older working Americans are delaying plans to retire amid mounting financial concerns, another group of employees are taking a different path: phasing into retirement. That’s according to new survey research from WTW, a global advisory, broking and solutions company. The 2024 Global Benefits Attitudes Survey found one in three (34%) workers age 50 and older either have already started phasing into retirement (15%) by reducing their work hours or job responsibilities as they nea

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Accounting Today

AUGUST 22, 2024

Pushing 100 notices; nothing but the tooth; checking out; and other highlights of recent tax cases.

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Tax tax preparation 126

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.

CPA

Withum

AUGUST 19, 2024

Withum is proud to share that Inside The Valley has named Steve Martini and Chris Passmore on their Top 200 List for 2024. Steve Martini is a Tax Partner at Withum with over 30 years of experience focusing on business consulting and management advisory services. He is a dedicated philanthropist, having served on the Los Angeles Police Department Executive Strategic Planning Group for the L.A.P.D.

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CPA Tax 111

Going Concern

AUGUST 23, 2024

Burdened by heaps of paperwork and knowing many of the Employee Retention Credit claims they still needed to sort through were sketchy at best and outright fraudulent at worst, the Internal Revenue Service opened up a voluntary disclosure program last year that would allow employers to take back their erroneous ERC claims without eating big penalties.

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Nebraska payroll Government Tax 110

CPA Practice

AUGUST 21, 2024

The tax law allows real investors to write off a portion of their losses from rental activities, or even the full amount, if they meet certain requirements. However, as shown in a new case, Foradis, TC Summ. Op. 2024-13, 7/11/24 , it’s difficult to convince the Tax Court you’ve put in the necessary time—especially if you have another full-time job. Background : Normally, investors in passive activities in which they don’t “materially participate,” like most real estate activities, can take deduc

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Real Estate Tax Construction 115

Accounting Today

AUGUST 20, 2024

In 2023, 125 violation cases of unauthorized access of tax return data were reported, the highest since 2018, but instances of disclosure violations remains low.

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tax return Tax 126

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

Spend Management

Insightful Accountant

AUGUST 22, 2024

Sheri Radler and Nikki Mullins are our featured Top ProAdvisors this week.

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Going Concern

AUGUST 22, 2024

This would be a highly inappropriate article to use PwC Chad on. Perhaps our own regulators could learn a thing or two from China about handing down punishments to audit firms. If you want it to hurt, hit ’em where it counts: their pockets. For months now, PwC China has been dealing with the fallout of former client and currently bankrupt property developer Evergrande inflating revenues and then defaulting on its debts.

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audit auditor financial statements Legal 105

CPA Practice

AUGUST 19, 2024

The IRS on Monday issued interim guidance on employer matching contributions made to retirement plans—including 401(k), 403(b), and similar plans—for student loan payments made by their workers. The guidance in Notice 2024-63 implements Section 110 of the SECURE 2.0 Act of 2022, which allows employees to receive a 401(k) match from their employer, but only if they’re making qualified student loan payments.

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Accounting Today

AUGUST 20, 2024

EisnerAmper, a Top 25 Firm based in New York, is adding the partners and colleagues of Krost CPAs, a Top 100 Firm based in the Los Angeles area, in a combination expected to close in September.

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