Mon.Jan 08, 2024

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IRS plans to start tax season on Jan. 29

Accounting Today

The agency is anticipating over 128.7 million individual tax returns by the April 15, 2024, tax deadline.

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Time is getting short, Nominate a ProAdvisor for the 2024 Awards

Insightful Accountant

If you haven't received a notice of nomination for the 2024 ProAdvisor Awards then we suggest you just go ahead and nominate yourself! And while you are nominating yourself, nominate another deserving ProAdvisor as well.

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Get ready for tax season!

Accounting Today

NCCPAP's Frank Sands shares the major issues that tax pros should be paying attention to in the run up to April 15.

Tax 293
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QuickBooks Desktop Product Alert

Insightful Accountant

If you use the QuickBooks Desktop Payroll Set-up Wizard, you may encounter an Error. There is a fix available.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Crypto mega trends accountants need to watch in 2024

Accounting Today

As the calendar rolls forward to 2024, and 2023 for good or bad recedes into the rearview mirror, the crypto sector and accounting professionals are attempting to plan for the future.

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Is FreshBooks Right for My Clients? 5 Questions to Ask

Outsourced Bookeeping

Are you thinking about selecting the ideal accounting software for your customers? They could find that FreshBooks is the game-changer they need! However, how can you tell whether it’s the right fit? By posing pertinent queries, you may determine whether FreshBooks meets the particular business requirements of your clients. FreshBooks has a lot of features, like monitoring costs and making invoicing easier.

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How to Create an Efficient Profit and Loss Statement

Remote Quality Bookkeeping

Hopefully, your business made a profit last year. After all, that’s the primary purpose of most companies – to turn profits and generate earnings for owners and shareholders. But how do you know how much of a profit your business made in the past 12 months? Or in the past six months? The past quarter? Figuring out exactly how your business is performing requires more than just counting up your sales and the other money you have coming in the door.

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The next frontier in tax

Accounting Today

Practitioners have always shared advice as part of tax prep, but the future of the field is in proactive, intentional tax advisory services.

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How To Maximize Net Terms As A Freelancer

Invoicera

Introduction So, you are a freelancer and have delivered a project but still waiting for the payment? We know this struggle is so frustrating. Not getting paid on time for your hard work can affect your finances & peace of mind. Do you know? Nearly 71% of freelancers reported having trouble getting paid at some point in their careers. If you’re experiencing this too, it might be due to unclear specifications of net terms in your invoices.

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Congress leaders ease shutdown risk with spending-cap deal that cuts IRS funds

Accounting Today

The deal includes speeding up $10 billion in cuts to the Internal Revenue Service.

Tax 281
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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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Thinking of Changing Your Company’s FYE After Incorporation in Singapore? Here’s a Step-by-Step Guide

Counto

Thinking of Changing Your Company’s FYE After Incorporation in Singapore? Here’s a Step-by-Step Guide In the dynamic world of business, circumstances can change rapidly, and sometimes, it becomes necessary to adapt. One such adaptation might involve changing your company’s Financial Year End (FYE) in Singapore. Whether it’s for better aligning with your business cycle or optimising tax exemptions, altering your FYE is possible.

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IAASB plans tweaks to auditing standards

Accounting Today

The International Auditing and Assurance Standards Board is planning to make some minor adjustments in its quality management and global audit standards to align them more closely with international ethics rules for accountants.

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What is bank reconciliation? Definition, examples, and process

Nanonets

Bank Reconciliation is the process of matching the company's cash books to the bank statement. The aim is to ensure all transactions are accurately recorded in the company's cashbooks and to find any errors or fraud. Reconciliation includes matching the company’s balance sheet, income statement, bank statements, and expenses. Having an accurate set of financial statements is essential, or it can lead to complications in financial planning, tax compliance, and legal matters.

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Private U.S. companies increasingly going bust as profit shrinks

Accounting Today

The struggles at smaller companies could create opportunities for professionals that help companies restructure their debt and turn themselves around.

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Your New & Improved Month-End Close Process Is Not So Far Out of Reach!

All accounting teams know what it is like to dread the inevitable month-end scaries. If there was a way to feel less burdened and maybe even a little enthusiastic to work on your month-end close and reconciliation process, would you do it? No, don't answer that, of course you would! Automate your month-end close process by up to 40% with SkyStem's ART and see how much more alive you feel!

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Converting Your Singapore Sole Proprietorship into a Pte Ltd Company

Counto

Converting Your Singapore Sole Proprietorship into a Pte Ltd Company Starting a business as a sole proprietorship can be a straightforward and cost-effective option, but as your business grows, you might consider converting it into a private limited company, also known as a Pte Ltd in Singapore. This transition offers numerous advantages, including limited liability, tax benefits, wider funding options, and more.

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GASB offers guidance on risk disclosures

Accounting Today

The Governmental Accounting Standards Board released guidance requiring state and local governments to disclose information about certain risks.

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Why Is Bank Reconciliation important in accounting?

Nanonets

Bank Reconciliation is the process of matching the company's cash books to the bank statement. The aim is to ensure all transactions are accurately recorded in the company's cashbooks and to find any errors or fraud. Reconciliation includes matching the company’s balance sheet, income statement, bank statements, and expenses. Having an accurate set of financial statements is essential, or it can lead to complications in financial planning, tax compliance, and legal matters.

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Art of Accounting: Top 10 quotes from last year's columns

Accounting Today

Here's a look back at some of the best pieces of advice from this past year.

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The Definitive Guide to Spend Management

The status quo for AP in small and mid-market companies is broken. It consists of messy tech stacks of siloed solutions that give rise to manual work, a lack of control, wasted spend, and unnecessary risks. The benefits of shifting to spend management are tangible, measurable, and are felt across the whole organization. Spend management is a different way of thinking and an innovation whose time has come.

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Singapore GST Registration Guide for Foreign Businesses

Counto

Singapore GST Registration Guide for Foreign Businesses Expanding your business to Singapore and wondering about Goods and Services Tax (GST)? Look no further! This comprehensive guide will walk you through the essentials of GST registration for foreign businesses in Singapore. Our aim is to simplify the process, help you understand your obligations, and ensure your compliance with Singapore’s GST regulations.

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Indiana accounting students influenced by internships, social media

Accounting Today

A survey of Hoosier accounting and business students found some encouraging news.

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Sole Proprietorship vs Pte Ltd: Pros and Cons in Singapore

Counto

Sole Proprietorship vs Pte Ltd: Pros and Cons in Singapore When starting a business in Singapore, one of the critical decisions you’ll face is choosing the right business structure. Two common options are a Sole Proprietorship and a Private Limited Company (Pte Ltd). Each has its own set of pros and cons, and understanding the differences between them can help you make an informed choice that aligns with your business goals and needs.

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Clients can go green, save greenbacks on eco-friendly home repairs

Accounting Today

Financial advisors, tax professionals and their customers can recoup 30% of the cost through credits for qualified upgrades to their residences.

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Navigating Financial Storms: Strategies for Building Resilient Balance Sheets

Speaker: Carolina Aponte - Owner and CEO, Caja Holdings LLC

In today's rapidly changing business environment, building a resilient balance sheet is crucial to the survival of any business. A resilient balance sheet allows a company to withstand financial shocks and adapt to changing market conditions. To achieve this, companies need to focus on key strategies such as maintaining adequate liquidity, managing debt levels, diversifying revenue streams, and prioritizing profitability over growth.

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Janel Sykora on Branding and Where to Start

Insightful Accountant

We delve deep into the world of branding and kickstart your journey to marketing success for accounting firms with Janel Sykora, a seasoned expert from Cajabra Marketing for Accountants.

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UHY merges in Paresky Flitt

Accounting Today

The Michigan-based firm has expanded to Massachusetts.

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How do Foreign Businesses Set Up Operations in Singapore?

Counto

How can a Foreign Business Set Up Operations in Singapore? If a foreign entity, rather than an individual, intends to establish a presence in Singapore, it can explore four entry avenues. Each entry option comes with distinct advantages and limitations. Here’s a brief overview: 1. Representative Office (RO) Ideal for short-term market exploration.

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Invoice Data Extraction: A complete guide

Nanonets

Introduction In the modern business environment, accounts payable teams must be able to process invoices and payments as quickly and efficiently as possible. As the organization grows, the number of invoices that need to be processed also grows, requiring a larger team size and, longer processing times. In addition to this, manual invoice data extraction and processing is also quite error-prone leading to a greater investment of resources than is required.

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Putting the ‘Tech’ in Spend Management Techniques

Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker

If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up! With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. And while this may sound like great news for you and your clients, it won’t be worthwhile unless you have the latest techniques to back up your ambitions!

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Build the Ideal Education Strategy for Credit Congress

NACM

?NACM's Credit Congress & Exposition is an annual conference established to bring credit professionals together from across the nation to network, learn about various topics in the credit industry and stay informed about the latest changes in the B2B credit world.?️ On the latest episode of NACM's Extra Credit podcast, listen to credit professi.

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Trump eyes keeping 21% corporate tax, extending individual cuts

Accounting Today

Donald Trump plans to make permanent the 2017 individual tax cuts that he enacted as president while keeping corporate tax levels unchanged in an appeal to working and middle class voters should he retake the White House.