Sat.Oct 05, 2024 - Fri.Oct 11, 2024

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Avoid These Common Budgeting Mistakes for Your Business Going into 2025

AccountingDepartment

Budgeting is crucial for any business that wants to succeed in the long term. As a business owner of a small to medium-sized business, you may have experienced the challenges of creating and implementing a budget.

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What to Look for in the Best CRM for Accounting Firms

Canopy Accounting

Accounting firms have a unique relationship with their clients, including their fiscal responsibilities and dedication to accuracy and transparency in their work. But, providing excellent service also comes with the challenge of managing client needs, individualized preferences, and their widely diverse business structures.

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The Future of Tax: How Corporations Can Leverage New Technology for Tax Efficiency

CPA Practice

By Amanda Tickel. The administration of tax is undergoing a significant transformation, driven by the rapid digitalization of processes and the integration of advanced technologies such as Generative Artificial Intelligence (GenAI). This evolution is not just a fleeting trend but a critical long-term priority for tax authorities and businesses alike.

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Auditors play important role in responding to fraud risk

Accounting Today

The Center for Audit Quality and the Anti-Fraud Collaboration released a new publication on the role of the auditor in assessing and responding to fraud risk.

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If It Aint Broke, Don’t Fix It: A Dangerous Mindset

Time and time again we tell ourselves and others NOT take action on something that is not "broken." We apply that mindset at home and at work. Sometimes, it doesn’t work out so well. Because when it's truly broken, it's usually an emergency, costs more and causes stress. Join us in this webinar where we share ways where you are able to anticipate your needs, understand benefits that you will get from getting better now instead of later, and relieving your team of tasks that they don't need to be

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How Market Uncertainty Can Affect Business Value

RogerRossmeisl

Businesses face uncertain conditions today, including geopolitical and cybersecurity risks, inflation concerns, environmental issues, and a lack of clarity about future tax laws and interest rates. Here’s an overview of how business valuation professionals factor these kinds of issues into their value conclusions. Market analysis Before crunching the numbers, valuators must fully understand the market conditions in which the subject company currently operates.

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Internal auditors less confident on AI versus other threats

Accounting Today

A survey of internal audit and IT leaders found that while they identity AI as a growing technology risk, they have the least confidence in their ability to evaluate and handle its risks versus other technologies.

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More Trending

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GASB mulls changes in accounting for infrastructure assets

Accounting Today

The Governmental Accounting Standards Board is considering changes in the financial reporting rules for infrastructure assets and is looking for feedback.

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How secure are your communications?

Accounting Today

Communications between you and your clients can contain sensitive information that neither of you would want distributed to others.

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DAE Get Sick of Hearing About Accounting Firms Getting Their Data Breached?

Going Concern

Another small accounting firm has reported a data breach involving the protected health information of a whole lotta people. On October 7, Dohman, Akerlund & Eddy, LLC (or DA&E as we’ll refer to them for the remainder of this article) of Aurora, Nebraska sent out letters to 82,207 people whose data — including name, address, date of birth, Social Security number, medical treatment/diagnosis information, dates of service, health insurance provider name, health insurance claim

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Does Your Business Need to Report Employee Health Coverage?

RogerRossmeisl

Employee health coverage is a significant part of many companies’ benefits packages. However, the administrative responsibilities that accompany offering health insurance can be complex. One crucial aspect is understanding the reporting requirements of federal agencies such as the IRS. Does your business have to comply, and if so, what must you do? Here are some answers to questions you may have.

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Navigating Corporate Travel Changes Post-Pandemic

Global business travel is surging, with companies spending as much as or more than they did before the pandemic. This trend is expected to continue, with more growth on the horizon. The types of travelers are also changing, with millennials and Gen Zers taking on the majority of the load. Business travel is evolving, and younger generations expect less hassle, even though there are more ways to book and pay for travel than ever before.

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Significant Tax Changes for California Startups Beginning in Tax Year 2024

BurklandAssociates

California’s new tax laws limit NOL deductions and tax credits for startups, raising potential tax burdens. Here’s what founders need to know to stay ahead. The post Significant Tax Changes for California Startups Beginning in Tax Year 2024 appeared first on Burkland.

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Enrolled Agent Near Me: Comprehensive Tax Services for Individuals and Businesses

MyIRSRelief

Enrolled Agent: Comprehensive Tax Services for Individuals and Businesses When it comes to managing your taxes, finding a qualified and reliable tax professional is crucial. An Enrolled Agent (EA) is a federally-authorized tax practitioner who has technical expertise in the field of taxation and is empowered by the U.S. Department of the Treasury to represent taxpayers before the Internal Revenue Service (IRS) for tax issues including audits, collections, and appeals.

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Acterys Recognized as a Champion in SoftwareReviews’ 2024 EPM Quadrant Award

Acterys

Acterys has been named a Champion in the 2024 Enterprise Performance Management (EPM) Quadrant by SoftwareReviews. For the second consecutive year, Acterys has been voted into the top spot by its customers. Each year, SoftwareReviews presents the Data Quadrant Awards to top-performing software products based solely on authentic user reviews, without any paid placements or analyst opinions.

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Can Homeowners Deduct Seller-Paid Points as the Real Estate Market Improves?

RogerRossmeisl

The recent drop in interest rates has created a buzz in the real estate market. Potential homebuyers may now have an opportunity to attain their dreams of purchasing property. “The recent development of lower mortgage rates coupled with increasing inventory is a powerful combination that will provide the environment for sales to move higher in future months,” said National Association of Realtors Chief Economist Lawrence Yun.

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4 Things Great Companies Do to Improve Cash Flow

Speaker: Don Gallianza, Credit Manager at Chevron Phillips Chemical and Indy Chakrabarti, Chief Marketing Officer at HighRadius

4 Case Studies to Optimize DSO 26 Days Sales Outstanding. Already better than most. But, should you improve on that? Why would 3 fewer days even matter? It matters because it fundamentally transforms business outcomes. Join this webinar to explore 4 things companies do to reclaim hard dollars - not just soft costs - and go from good to great! What You'll Learn 6 operational KPIs every AR manager should track: Define and track these metrics to enhance performance, drive efficiency, and make infor

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IRS Provides Tax Relief to All of Florida After Hurricane Milton

CPA Practice

Because of hurricanes Debby, Helene, and, most recently, Milton, all taxpayers in Florida now have until May 2025 to file individual and business tax returns and make tax payments, the IRS announced on Friday. As a result of Hurricane Milton—which hit the western coast of the Sunshine State during the late evening of Oct. 9 and crossed through Florida during the morning of Oct. 10—individuals and businesses in 51 counties will receive disaster tax relief.

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States’ tax websites and sales tax searches

TaxConnex

Search engines have conditioned all of us to find what we need to know with a few clicks. But not all search engines – or state tax websites – are created equal. What it’s like typing “sales tax” into that little rectangle with the magnifying glass on each state’s website? Which states are up front from the first click with what you need and who seems to almost delight in hiding their information?

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Design Workforce Planning Systems to Power Your Growth

Acterys

Grappling with rising labor costs, ongoing talent shortages, and the increased complexity of aligning human capital investments with business goals? You need HR strategy and workforce planning systems that support a more strategic, data-driven approach. Only one-third of HR leaders feel confident in their organization’s ability to effectively use data in the workforce planning process, according to Gartner.

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ERC claim revisions, CAMT guidance and other IRS updates

Accounting Today

Proposals on the Corporate Alternative Minimum Tax and Alternative Fuel Vehicle Refueling Property Credit lead the wave of legislative and procedure changes out of the Internal Revenue Service last month.

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The Financial Leaders Playbook: How To Deliver Insight, Oversight, And Foresight

Speaker: Chandra McCormack, CPA, MBA, NACD.DC

Imagine being a financial leader who not only ensures the books are balanced but also shapes the future of your organization. 🤔 ✨ This session will take you beyond the routine reporting and into the realm of strategic financial leadership. We’ll explore how today’s finance professionals can juggle the day-to-day operations while also delivering the long term vision that drives growth.

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CohnReznick is Allegedly Exploring a Private Equity Deal

Going Concern

PE Hub is reporting that according to three sources, CohnReznick is in talks with William Blair — the Patty Stanger of private equity investments — to “gauge new capital sources of investment” in the next few months. CohnReznick has $150 million of EBITDA, they said. The firm is currently sitting at #16 on the INSIDE Public Accounting Top 100 with $1,052,365,413 in revenue.

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Wolters Kluwer Provides Insights Into 2024 Natural Disaster Tax Relief Options

CPA Practice

In response to Hurricane Helene’s recent devastation and Hurricane Milton’s impending landfall, Wolters Kluwer Tax & Accounting is highlighting tax relief opportunities available to those affected by natural disasters in 2024. Tax relief options for impacted individuals and businesses could include filing and payment deadline extensions, casualty loss deductions, and penalty-free access to retirement funds.

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Key Questions To Help Evaluate And Operate Your Construction Business

Randal DeHart

External factors, such as economic changes or technological advances, can significantly impact whether a business will thrive or fail. The rise of sharing and gig economy apps is an excellent example. These apps gave consumers more affordable options for daily tasks and errands and provided individuals with a new way to earn money on their schedules.

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AI: Solving old drudgery, creating new drudgery

Accounting Today

New technology has a habit of fixing old problems but creating new ones in their place, and AI is unlikely to be an exception.

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Best Practices to Streamline Compensation Management: A Foundation for Growth

Speaker: Joe Sharpe and James Carlson

Payroll optimization can be one of the most time-consuming and complex factors of small business management. Yet, organizations that crack the code on streamlining employee compensation often discover innovative avenues for growth. With the right strategies in place, outsourcing and streamlining payroll processes can result in substantial time and resource savings.

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Anders Named to St. Louis Business Journal’s Top 150 Privately Held Companies List

Anders CPA

Anders has been named to the St. Louis Business Journal’s list of Top 150 Privately Held Companies in St. Louis for the second time. Each year, the St. Louis Business Journal celebrates the largest and fastest-growing companies in our region. The Top 150 list features the top privately held local companies ranked in order by revenue. Coming in at #133, up from #145 in 2022, Anders is honored to make the list once again.

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Finance Sector Hit Hardest By Job Scammers, Report Finds

CPA Practice

A new report from cybersecurity solutions provider Heimdal Security revealed that finance and IT are the industries most targeted by job scammers. Employment scams are nothing new, but as technology like artificial intelligence advances, career experts have seen more scammers try to take advantage of job seekers. Job scams ranked among the top five most common scams last year, according to the Federal Trade Commission.

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What Do You Think About 'Intuit'

Insightful Accountant

We've heard many of you express concerns over recent actions Intuit has taken. We want the opinions of you, our Accountant, Bookkeeper, Consultant, Enrolled Agent, ProAdvisor and Tax-preparer/Professional readers. Please take this short survey.

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Clients expect auditors to use AI

Accounting Today

Companies increasingly expect their audit firms to leverage artificial intelligence to aid the audit process, according to a new survey from BDO.

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A Quick Historical Bookkeeping Cleanup

Historical bookkeeping clean-up is like an archaeological dig for financial documents. It is a vigorous, systematic process that ensures thorough scrutiny of every document. From verifying inconsistencies to reconciling payments, each layer of exhaustive evaluation brings greater clarity into your company's financial past. In this article, we will walk through all that historical bookkeeping clean-up entails.

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Advocacy and Achievement With Blinded Veterans Association

Withum

Explore Other Episodes #CivicWarriors #WithumImpact The post Advocacy and Achievement With Blinded Veterans Association appeared first on Withum.

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Maine Nonprofits Get Blanket Sales Tax Exemption

CPA Practice

By Gail Cole. Maine governor Janet Mills wanted to get rid of the red tape that separates many Down East nonprofits from sales tax exemptions. She succeeded: As of January 1, 2025, thousands of nonprofits in Maine will be eligible for a blanket exemption. Maine is the only state in New England — and one of just 17 states nationwide — that doesn’t already provide a blanket sales tax exemption for nonprofits, according to a report by Maine Revenue Services (MRS) that was presented to the Maine

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How to Track and Report In-Kind Donations

GrowthForceBlog

7 min read October 9th, 2024 Nonprofit donations are what keep your organization operating. Key Takeaways What Are In-Kind Donations : Monetary donations include any transfer of cash funds to a nonprofit organization. Any other type of contribution belongs to the other category of donations, which is known as in-kind donations. There are two kinds. How to Track In-Kind Donations in Nonprofits: Unfortunately, tracking in-kind donations is not as straightforward or simple as tracking cash donation

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KPMG supports alternative CPA pathways

Accounting Today

To help build the accounting pipeline, the Big Four firm is publicly supporting other ways to earn a license.

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How Unify Turned Month-End Mayhem Into a Growth Party With Automation!

By ditching paper and manual checklists, UNIFY embraced ART’s cloud-based solution for seamless automation. The robust dashboards, exception reports, and completion date reports allowed the team to easily track progress and resolve bottlenecks. ART’s flexible access for auditors ensured tight deadlines were met effortlessly. With competitive pricing and a rapid setup, ART cut costs and minimized disruptions, enabling UNIFY’s team to concentrate on high-impact tasks.