GrowthForceBlog
NOVEMBER 27, 2023
7 min read Nonprofit leaders face plenty of challenges and adversity when it comes to accomplishing their missions, attracting and retaining donors, and executing their strategies. With so much difficulty facing nonprofit leaders, struggling to keep up with the bookkeeping and accounting tasks of the back office doesn't need to be added to the list of struggles.
Airbase
NOVEMBER 29, 2023
Implementing accounts payable best practices can help your organization reduce risk, save time and money, foster strong vendor relationships, and create a better spend culture. You can better identify the best AP automation solution for your organization by following accounts payable best practices. Table of Contents FirstHeading Finding a system to support accounts payable.
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Accounting Today
NOVEMBER 27, 2023
The demands from various constituencies for tax breaks are not likely to stop lawmakers from proposing or introducing new legislation, if only to position themselves ahead of next November's election.
ThomsonReuters
NOVEMBER 29, 2023
Most tax professionals know that dealing with forces beyond their control—and the costly disruptions they cause—is a way of life. Unfortunately, many tax departments are feeling a strain on their resources as a result of these events. This, in turn, puts tax departments at greater risk for even more audits and stiffer penalties. This trend has been especially true during the past five years, and is sure to continue in the years ahead. “We are living in the environment where every day we ar
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
NOVEMBER 28, 2023
The lowering of the Form 1099-K threshold from $20,000 to $600 will not only produce millions more forms to be sent to taxpayers, but could also prompt many of them to abandon online marketplaces and gig economy jobs.
RogerRossmeisl
NOVEMBER 25, 2023
As reported via IRS Tax Tip 2023-45 on 4/5/2023 All taxpayers that filed a 2022 tax year Forms 1040 and 1040-SR were required to check a box indicating whether they received digital assets as a reward, award or payment for property or services or disposed of any digital asset that was held as a capital asset through a sale, exchange or transfer. Examples of digital assets transactions include: A sale of digital assets.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
ThomsonReuters
NOVEMBER 27, 2023
As the holidays approach, many employers plan on paying out bonuses, incentives, or other supplemental wages to employees that may have unexpected tax and compliance implications. Payroll Guide ¶ 4100 et seq. contains a detailed discussion on supplemental wage payments. Paying out bonuses Employers have several options when it comes to paying out bonuses.
AccountingDepartment
NOVEMBER 30, 2023
As a business owner or CEO, have you ever felt frustrated when the budget you made at the beginning of the year has become irrelevant halfway through? Have you ever wished for a more flexible and agile way to manage your finances? If so, you might want to consider continuous planning.
TaxConnex
NOVEMBER 30, 2023
Blog authored by Scott Schwertner, National Director of Sales and Use Tax for Invoke Tax Partners. With extensive experience in both the industry and sales tax consulting side, Invoke Tax Partners National Director of Sales and Use Tax, Scott Schwertner, knows how difficult it can be for businesses to get sales tax right on every transaction. It is common for businesses across the United States to pay sales tax and accrue use tax on purchases that are not taxable, resulting in an unnecessary hit
RogerRossmeisl
NOVEMBER 26, 2023
Taxpayers who make home energy improvements in 2023 may be able to benefit from tax credits for a portion of the qualifying expenses. The credit amounts have been increased, and types of qualifying expenses were expanded, by the Inflation Reduction Act of 2022. This post is intended to assist taxpayers in comparing the tax credits available for making energy home improvements.
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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.
Accounting Today
NOVEMBER 30, 2023
The Internal Revenue Service is warning taxpayers to be on the lookout for charity fraud as accountants look to advise clients on how to detect and avoid fraud.
MyIRSRelief
DECEMBER 1, 2023
C Corporations are a common choice for many businesses, offering a range of tax benefits that can lead to significant savings. This article will answer some of the most frequently asked questions about C Corporation tax savings. What is a C Corporation? A C Corporation is a legal structure for a corporation in which the owners, or shareholders, are taxed separately from the entity.
Acterys
NOVEMBER 27, 2023
In a rapidly changing business environment, companies turn to financial planning and analysis (FP&A) reports for a holistic understanding of business conditions and performance. For FP&A teams to be most effective, they need powerful, easy-to-use tools that help them quickly analyze data, create financial reports and distribute that information among stakeholders.
BurklandAssociates
NOVEMBER 27, 2023
Back office solutions and decision support solutions will both be natural beneficiaries of AI’s core promise. The post Two Paths Forward: AI in Startup Finance appeared first on Burkland.
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.
Accounting Today
NOVEMBER 29, 2023
The Treasury Department's Financial Crimes Enforcement Network is pushing back the deadline for new companies, but not old ones.
RogerRossmeisl
NOVEMBER 26, 2023
California AB 2280 established a new Unclaimed Property Voluntary Compliance Program that waives interest for taxpayers who voluntarily come into compliance with unclaimed property reporting requirements. The State Controller’s Office (SCO) has now opened the sign up process for businesses to apply for the program. Unclaimed Property Reporting Explained California businesses holding property belonging to others must file with the SCO to report unclaimed financial assets held by the entity for lo
Withum
NOVEMBER 30, 2023
1099 filing season is approaching, and now is the time to review your vendor information to ensure everything is in order come January. Let’s break down what you need to know ahead of time. First, you want to familiarize yourself with the standard 1099 forms that most companies must file. 1099 NEC (Non-employee Compensation) reports payments of at least $600 or more in the calendar year to non-employees for services rendered. 1099 MISC (Miscellaneous) reports miscellaneous payments such as ren
CPA Practice
NOVEMBER 26, 2023
The sessions and CPE fields of study for Ensuring Success 2023 have been announced. Ensuring Success will be held December 6-7, 2023. Professionals can earn up to 14 hours of free CPE during this 2-day annual, virtual conference. Additionally, EAs can receive up to 3 hours of CE credit. Register now and mark your calendar for Ensuring Success, to ensure you meet your year-end CPE requirements.
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.
Accounting Today
NOVEMBER 26, 2023
Attitudes toward diversity, equity and inclusion are shifting in the profession — but slowly.
RogerRossmeisl
NOVEMBER 26, 2023
As reported via IRS Tax Tip 2023-51 4/17/2023 After someone with a filing requirement passes away, their surviving spouse or representative should file the deceased person’s final tax return. On the final tax return, the surviving spouse or representative should note that the person has died. The IRS doesn’t need a copy of the death certificate or other proof of death.
Going Concern
NOVEMBER 28, 2023
Let’s all take a moment to be thankful that things aren’t as dire here at home as they are across the pond. For the moment. Financial Times reported on the Friday after Thanksgiving — just another day to the Bri’ish, thank goodness — that the pay freeze at KPMG UK initially in effect only for its suffering deals business is now extending to 12,000 staff across service lines.
CPA Practice
NOVEMBER 27, 2023
The Financial Accounting Standards Board (FASB) on Monday approved new rules that are expected to improve disclosures about a public company’s reportable segments and provide more information to investors about a segment’s expenses. The changes outlined in Accounting Standards Update (ASU) No. 2023-07 , Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , are the “most significant since 1997” when the board issued Statement 131 to improve the way public companies repor
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.
Accounting Today
NOVEMBER 30, 2023
Corporate audit committees have been providing investors with a greater number of disclosures about their activities and responsibilities over the past 10 years, but there's still room for improvement.
RogerRossmeisl
NOVEMBER 26, 2023
As reported via IRS Tax Tip 2023-103 9/5/2023 Starting a new business can seem overwhelming for new entrepreneurs or even seasoned professionals. The IRS has resources to help new business owners understand the tax responsibilities of running a business. Here are a few things any entrepreneur needs to do when starting their business. Choose a business structure The form of business determines which income tax return a business needs to file.
Going Concern
NOVEMBER 30, 2023
As reported by Financial Times and amplified by people with offers freaking out on Reddit, EY is pushing start dates back for new hires in advisory. Again. FT : The Big Four firm told recent graduates who had originally expected to start work this autumn that some of them would now not be required until July or August 2024, almost a year late. The decision was “based on emerging business conditions and our assessment of our business needs”, according to an email on Tuesday from EY’s campus recru
CPA Practice
DECEMBER 1, 2023
The Department of the Treasury and the Internal Revenue Service have issued two items of guidance on the excluded entity restriction of the section 30D clean vehicle credit, as amended by the Inflation Reduction Act. Under the excluded entity restriction, vehicles are not eligible for the clean vehicle credit if the battery contains battery components manufactured or assembled or applicable critical minerals extracted, processed or recycled by a foreign entity of concern (FEOC).
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
Accounting Today
NOVEMBER 27, 2023
The six states with the lowest real-estate taxes have an average rate of 0.48%.
RogerRossmeisl
NOVEMBER 26, 2023
As reported via IRS Fact Sheet 2019-14 in October 2019 One of the advantages of someone running their own business is hiring family members. But when including family members in business operations, certain tax treatments and employment tax rules apply. Here are some facts to know when working with a spouse, parent or child. Both spouses carrying on the trade or business If spouses carry on a business together and share in the profits and losses, they may be partners whether or not they have a
Withum
NOVEMBER 29, 2023
Beginning January 1, 2024, the Corporate Transparency Act requires certain businesses to submit an online report to the Financial Crimes Enforcement Network (FinCEN), an arm of the U.S. Treasury Department. The report will require affected businesses to provide personal information about their legal entities, beneficial owners, and company applicants.
ThomsonReuters
NOVEMBER 28, 2023
Jump to: Reflect on your current tax workflow Use automation to boost staff engagement and retention Unlock growth opportunities With staffing shortages of epic proportions, the accounting industry is facing a crossroads. In recent years, more tax professionals have exited the industry than entered it, which presents the potential for detrimental effects across the business and financial world.
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Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.
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