Shay CPA

AUGUST 28, 2024

Founders and finance teams want to keep a finger on the pulse of the company’s health. With a month-end close, they get the detailed look they need to evaluate their runway, revenue trends, and more. Plus, this regular step ensures that the financial reports investors and tax authorities require stay updated and accurate. While a month-end close delivers a number of benefits, it comes with one big drawback: the effort required to complete it.

accounting and finance 52

accounting and finance Finance CPA Expense Management 52

Canopy Accounting

AUGUST 28, 2024

Client standards are at an all-time high and accounting firms must prioritize a client-centric approach to stay ahead. Client-centric accounting focuses on enhancing the overall client experience by dedicating time, energy, and resources to meeting and exceeding client expectations. This approach is no longer just an option but a necessity for firms that aim to thrive.

accounting firms 96

accounting firms accounted Account accountant 96

CPA Practice

AUGUST 26, 2024

By Richard Corn. It can be difficult at times to achieve a proper work-life balance: we have to juggle our careers, families, friends, and other important responsibilities. When life gets busy, what often gets left behind are our hobbies. This can be frustrating, but even more so in the summer, when there are more family trips and activities we want to spend time on — and not spending time completing repetitive accounting tasks.

Technology 100

Technology Account accounted accountant 100

CPA Practice

AUGUST 27, 2024

New research by global small business platform Xero has uncovered a disconnect in payment expectations between US small businesses and consumers when it comes to the ways consumers want to pay and how small businesses want to be paid. Launched at Xerocon Nashville , is a Xero report that delves into changing payment habits among consumers and how small businesses are adapting.

accounts payable 110

accounts payable accounted Account accountant 110

BurklandAssociates

AUGUST 27, 2024

Tips and examples to help you present your startup's financial data to your board of directors with maximum efficiency and impact. The post Financial Reporting for Board Meetings for Early-Stage Startups – Part 2, Reporting Examples appeared first on Burkland.

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162

Going Concern

AUGUST 24, 2024

Some time last evening we received a quiet little tip about a firm we rarely talk about: Doeren Mayhew out of Troy, MI sold out to private equity on Wednesday. Press release coming soon. Junior partners are furious. Lo and behold, this press release appears on Doeren Mayhew’s website. It’s dated August 23 but wasn’t there when we searched for it late Friday.

CPA 118

CPA public accounting audit Tax 118

Accounting Today

AUGUST 26, 2024

AICPA chair Carla McCall talks about how accounting firms need to work together so they can all thrive separately.

accounting firms 124

accounting firms accounted Account accountant 124

Going Concern

AUGUST 28, 2024

Fresh off the big reveal of the 2024 Top 500 list , INSIDE Public Accounting has released another one of their yearly lists that tends to get less play than the big T100: Best of the Best. Of these “best” firms they say: What all the Best of the Best have in common is a focus on operational and financial excellence. Leaders don’t get so caught up in the day-to-day routine that they overlook the basics of running a business and running it well.

accounting firms 104

accounting firms Account accounted accountant 104

Insightful Accountant

AUGUST 26, 2024

A federal judge in Dallas has blocked the U.S. Federal Trade Commission's (FTC) near-total ban on noncompete agreements, which was set to take effect next month.

52

52

TaxConnex

AUGUST 27, 2024

Have Home Rule Jurisdictions Made the Burden of Managing Sales and Use Tax Too Much? As if managing sales and use tax obligations on a multi-state level wasn’t hard enough, some states make it even tougher with “home rule,” where jurisdictions are granted the authority to pass their own, additional tax laws. This can create deep confusion for businesses with no physical presence in a jurisdiction with these rules.

Colorado 264

Colorado Sales Tax Alaska 264

Accounting Today

AUGUST 26, 2024

Millionaires only accounted for 0.22% of total returns filed this year for the 2023 tax season.

tax return 135

tax return Tax accounted Account 135

CPA Practice

AUGUST 25, 2024

Determining the taxability of digital goods can be challenging for businesses. Most of us engage in many activities online, using software, reading ebooks, or streaming digital media for hours each day. Yet some states still haven’t clearly defined how sales and use tax applies to digital goods and services. To help you better understand digital products sales tax, this blog will explain: How do you define digital products for sales tax?

West Virginia 124

West Virginia Rhode Island South Carolina Tax 124

Going Concern

AUGUST 28, 2024

Someone brought it to our attention earlier that quite a few people on r/Deloitte are reporting dreaded “business update meeting” items being added to their calendars. We know what that means. The someone added: Just remember that Deloitte employees are never “let go” from their jobs, they are rightsized to align with the firm’s strategic objectives in light of economic uncertainty and sector level trends Well, apparently a lot of people in audit are being rightsize

audit 122

audit CPA 122

CTP

AUGUST 27, 2024

News headlines are making it clear that homeowners across the country are experiencing similar pains—a dramatic rise in their latest property tax bills. The average property tax bill in 2023 was $4,061, which amounts to a property tax rate increase of 6.9% , twice as much as the previous year. When clients come to you asking for help lowering their tax bill, do you know what your options are when it comes to property taxes?

Tax 105

Tax Real Estate Florida Construction 105

Accounting Today

AUGUST 29, 2024

This year's selection of outstanding firm leaders fill multiple roles with aplomb

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128

CPA Practice

AUGUST 28, 2024

CPA Practice Advisor has announced the 2024 Tax and Technology Innovation Award winners and finalists. Now in their 21st year, the awards highlight technologies that advance the profession. After voting by the awards committee panel each year, the top five products are presented as winners of the Tax and Accounting Technology Innovation Awards. Up to five additional products are also selected by the committee as award finalists.

Technology 124

Technology accounting firms Account accounted 124

Going Concern

AUGUST 30, 2024

StoneTurn’s Brad Wilson wrote an opinion piece for Bloomberg Tax about how business leaders can take proactive steps to address the accountant shortage and I am presenting it here for you to critique. According to Glassdoor , StoneTurn is a global professional services firm that works with law firms, corporations, and government agencies in solving the most complex and consequential business issues.

Account 114

Account accounted accountant Education 114

Xero

AUGUST 25, 2024

We’re committed to continuously improving your invoicing experience in Xero. And as we transition to the new version of invoicing, we’re continuing to roll out more features and enhancements designed to streamline your workflow and boost productivity. As a reminder, there are some important changes happening in Xero invoicing: Beginning the week of 2 September 2024 at 9am NZT, we will be defaulting users to the new version of invoicing experience on a rolling basis.

Tax 105

Tax 105

Accounting Today

AUGUST 29, 2024

Some IRS policies may favor large multinational corporations that use foreign no-tax or low-tax jurisdictions for the sole purpose of avoiding paying U.S. taxes, according to a TIGTA report.

Tax 124

Tax 124

CPA Practice

AUGUST 30, 2024

Research conducted by the Center for Accounting Transformation revealed that about one-fourth of accounting professionals would like to increase their activity in DEI programs. However, only about 30% of accounting organizations implement DEI initiatives. The findings were shared during the Center’s recent webinar on the research results, “The DEI Journey of Accounting Professionals – A Research Study Analysis,” which was hosted by Donny Shimamoto, CPA, CITP, CGMA, the founder and managing di

Account 109

Account accounted accountant CPA 109

Going Concern

AUGUST 29, 2024

Announced yesterday, Eide Bailly (IPA Top 100 #18 with $705 million in revenue) has gotten itself into some kind of mutually beneficial arrangement with a wealth management firm that means EB Advisors joins that firm, Sequoia Financial Group, and Eide Bailly has an equity investment in Sequoia and they’re both servicing clients together. Or something.

North Dakota 111

North Dakota Mississippi accounting firms accounted 111

Canopy Accounting

AUGUST 29, 2024

Panelists: Gail Perry, Editor, CPA Practice Advisor Roger Knecht, PB, PGE, VB, President, Universal Accounting Kyle Whittle, Director of Customer Onboarding, Canopy Canopy and CPA Practice Advisor partnered on a survey asking accountants how they saw the profession today and where they thought it would be in three to five years. In this engaging webinar a panel of accounting professionals will dive into the data, share their insights, and forecast where they see the profession going in the futur

Account 98

Account accounted accountant CPA 98

Accounting Today

AUGUST 29, 2024

The 2024 MP Elite share their strategies for solving accounting's current talent shortage.

accounted 122

accounted Account accountant 122

CPA Practice

AUGUST 29, 2024

Items of income and loss from an S corporation are passed through to shareholders and reported on their personal tax returns. However, as shown in a new case, Maggard, TC Memo 2024-77, 8/7/24 , an S corp shareholder may be liable for tax on income they never even receive. Basic premise: With an S Corporation, the owners are essentially taxed like partners in a partnership.

Tax 109

Tax tax return California Manufacturing 109

Going Concern

AUGUST 27, 2024

Was “Coalition Against Scam and Scheme Threats” the best they could come up with for an official group against tax scams? America’s smartest tax-minded brains dug as deep as they could and that’s what they landed on? Well anyway, the CASST is here and as its name implies, it’s a group effort representing the Internal Revenue Service, state tax agencies, and all sorts of entities across the tax industry that’s meant to “combat the growth of scams and sche

Tax 111

Tax Education tax return accounted 111

Withum

AUGUST 28, 2024

How could a company like Coca-Cola underpay its taxes by $2.7 billion, resulting in a total impact of $6 billion after penalties and interest are imposed? What gave rise to this astonishing tax bill? A global strategy by the multinational that may have been lacking in terms of full support of economic substance for each entity under scrutiny Challenges in navigating misaligned transfer pricing regulations around the world A different interpretation by the IRS and Coca-Cola of the functions perfo

Tax 98

Tax Non-Profits audit Advertising/ Marketing 98

Accounting Today

AUGUST 28, 2024

In 2023, 179,000 notices of federal tax lien were filed, down roughly 84% from the high in 2010 of nearly 1.1 million.

Tax 122

Tax 122

CPA Practice

AUGUST 28, 2024

By Augusta Saraiva Bloomberg News (TNS) A technical glitch prevented the U.S. government from sharing key payroll data on time last week, according to a spokesperson for the Labor Department, who acknowledged staff provided the numbers to callers before the release was made public. The episode has prompted steps to beef up data-release protocols at the Bureau of Labor Statistics, the DOL agency responsible for releasing high-profile economic reports such as monthly jobs and inflation figures.

payroll 109

payroll Washington Government 109

Going Concern

AUGUST 29, 2024

Are you struggling to find remote accountants, CAS experts, auditors, or tax professionals for your firm or internal team? Accountingfly can help! With our Always-On Recruiting service, access a pool of top remote accounting candidates without any upfront costs. Sign up now to see the complete candidate list and connect with potential hires. ACCOUNTING CANDIDATES FTE Accounting | Candidate ID #22164759 Certifications: CPA in process Education: BA and MA Accounting Experience (years): 20 years bu

Real Estate 105

Real Estate Account accounted accountant 105

Canopy Accounting

AUGUST 26, 2024

Profile Accountability Services is a forward-thinking accounting firm located in Seattle, Washington and Boulder Valley, Colorado. The firm, co-owned by Lera Kooper, Dave Fischer and Ernie Villany, emphasizes a modern approach to accounting that prioritizes work-life balance, scalability, and a client-centric focus. The firm provides tax, accounting, and advisory services, primarily catering to business owners with an entrepreneurial mindset.

Colorado 98

Colorado Account accounted accountant 98

Accounting Today

AUGUST 27, 2024

The accountant of the future has come back to share some thoughts on how the profession will improve.

CPA 121

CPA accounted Account accountant 121

CPA Practice

AUGUST 28, 2024

Since their inception, Roth IRAs have allowed taxpayers to establish accounts either through direct contributions or by converting a traditional IRA into a Roth IRA, a process referred to as a Roth conversion. Initially, these options were unavailable to higher-income individuals, as eligibility for direct contributions and conversions was limited by a taxpayer’s modified adjusted gross income (MAGI).

Tax 107

Tax Illinois CPA income tax 107

Going Concern

AUGUST 27, 2024

h/t CPA_Dad for tweeting this in our direction Just a few months after #28 IPA Top 100 firm Sikich announced a $250 million capital injection from Bain Capital , the firm has grabbed the basically unknown Saggar & Rosenberg of Rockville, Maryland. Well, Sikich Co-Managing Principal Antony Nettleton knows who they are. “Over the last 25 years Sandy Saggar has built an impressive company that dovetails nicely with our own offerings and specialized services to non-profits and the government sec

accounting firms 102

accounting firms Maryland Account accounted 102

Insightful Accountant

AUGUST 27, 2024

Starting October 27, 2024, the price of Xero's most popular plans in the United States will increase. The Early, Growing, and Established plans will see price changes ranging from $2 to $5 dollars per month.

98

98

Accounting Today

AUGUST 30, 2024

OSCPA makes 66th Hall of Fame induction; CohnReznick opens digital forensic lab; and more news from across the profession.

119

119

CPA Practice

AUGUST 28, 2024

IRS Advance Notice 2024 CPA Practice Advisor Innovation Award Winner [link] Advance Notice (IAN), a revolutionary feature of IRS Solutions Software, is redefining the landscape of tax management. This groundbreaking tool addresses a critical industry need by providing accountants with unprecedented early insights into IRS actions, often weeks before official client notifications.

Technology 105

Technology CPA Tax accounted 105

Cherry Bekaert

AUGUST 28, 2024

In this episode of Cherry Bekaert’s Government Contracting podcast, we discuss how to choose the right Enterprise Resource Planning (ERP) system that fits your company’s unique needs. Host Eric Poppe , a Managing Director in the Government Contracting Industry practice, is joined by Christine DeYuliis , a Senior Manager. Tune in to learn more about steps your business can take to find the right ERP, including: Conducting an initial discussion with stakeholders Defining and documenting current

Government 97

Government accounted Account accountant 97