Mon.Jan 22, 2024

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IRS adds crypto question to more tax forms

Accounting Today

The Internal Revenue Service has revised the question it has asked in recent years about income from digital assets such as cryptocurrency on the Form 1040 for individual taxpayers this tax season and added it for the first time to tax forms for estates, trusts, partnerships and C and S corporations.

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Intuit Responds to U.S. Federal Trade Commission’s Flawed Decision

Intuit

Commissioners for the U.S. Federal Trade Commission (FTC) unsurprisingly announced that they have ruled in favor of themselves in a lawsuit filed against Intuit. Intuit is immediately appealing this decision, and we believe that when the matter ultimately returns to a neutral body we will prevail. There is no monetary penalty in the FTC’s order, and Intuit expects no significant impact to its business.

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Everything accountants need to know about PEOs

Accounting Today

Managing employees can be a major roadblock for growing businesses, but PEOs can help, and ADP's Kristen Appleman explains how they work and when they might be a good fit.

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It's Time to Reopen Your 2024 Awards Application

Insightful Accountant

We told you that on or shortly after January 20, we would ask you to reopen your 2024 ProAdvisor Awards application to take advantage of additional training and certification opportunities. now is the time for you to do that.

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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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IMA looks to rebuild accounting talent pipeline

Accounting Today

The Institute of Management Accountants is aiming to help businesses find more accounting talent in 2024, as demand for young people to succeed retiring accountants continues to grow, and organizations look for ways to incorporate artificial intelligence and sustainability into their operations.

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Customer definition

Accounting Tools

What is a Customer? A customer is an entity that buys goods or services from third parties. Accumulating a profitable and recurring group of customers is the primary goal of a business, since this group generates revenue for the business. A company that wants to remain profitable will closely follow the satisfaction levels of its customers and change its practices to match their requirements, so that they are willing to continue placing orders.

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Common stock definition

Accounting Tools

What is Common Stock? Common stock is an ownership share in a corporation. The holders of common stock have voting rights at shareholder meetings and the opportunity to receive dividends. If the corporation liquidates , then common stockholders receive their share of the proceeds of the liquidation after all creditors and preferred stockholders have been paid.

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M&A watch: MahoneySabol and Wagner expand

Accounting Today

MahoneySabol merged in Giamalis; and Wagner, Duys & Wood combined with Kaplan Company to form Wagner, Kaplan, Duys & Wood, LLP.

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What Are the Differences Between In-House Audits and External Audits?

Remote Quality Bookkeeping

The word audit can be enough to elicit worry and consternation from business owners and employees alike. For most people, having their work double- and triple-checked by someone else is nerve-wracking. Not many people relish the idea of someone else looking over every detail of their work, poking and prodding for mistakes. Of course, the purpose of an audit is not to poke and prod at one individual’s work.

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ADM plunges after placing its CFO on leave during accounting probe

Accounting Today

Archer-Daniels-Midland suspended its chief financial officer and cut its earnings outlook pending an investigation into its accounting practices.

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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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Your Ultimate Guide to Tier Pricing

Billing Platform

While comparable, tier pricing and volume pricing are calculated differently and used to achieve different business objectives. A favorite among software-as-a-service (SaaS) companies, a tiered pricing model refers to a step decrease in the cost of goods. Put a different way, an increase in the discount based on the quantity purchased or number of features needed.

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Why aren't you automating your data flows?

Accounting Today

if you still have data processes that involve downloading data from one system, messing around with it in Excel, then uploading it into another system, you should be automating that before all else.

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Prepping for a Tax Season Shutdown

Insightful Accountant

The U.S. Government still doesn’t have a permit budget and spending bill in place for the fiscal year that started October 1st and we are now operating under yet another temporary bill to stave off a shut down.

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Art of Accounting: Withum's 50th anniversary SOTF event

Accounting Today

The firm's annual State of the Firm event as attended in person by 1,500 Withum'ers and virtually by almost 1,000 Withum team members.

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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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The Corporate Transparency Act: What You Must Know

Reconciled Solutions

The Corporate Transparency Act was enacted by Congress to combat money laundering, tax fraud, and terrorism. Here's what you need to know. The post The Corporate Transparency Act: What You Must Know appeared first on Reconciled Solutions.

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Fady Hawatmeh on Leveraging Ai to Grow an Advisory Practice

Insightful Accountant

Gary DeHart and Fady Hawatmeh, Founder & CEO of Clockwork.ai sit down and have a chat about leveraging AI to Grow an Advisory practice.

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7 Tips for Using QuickBooks Online in 2024

Reconciled Solutions

Get more out of QuickBooks Online in the new year by learning these tips and tricks. QuickBooks Online was built for small businesses. You don’t. The post 7 Tips for Using QuickBooks Online in 2024 appeared first on Reconciled Solutions.

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Calendar year definition

Accounting Tools

What is a Calendar Year? A calendar year is a twelve-month period that begins on January 1 and ends on December 31. It is based on the Gregorian calendar, and is used in most countries to plan social and business events. The calendar year is the basis for numerous tax filings. It tends to be the default fiscal year for entities that have not specifically established a different date range for their fiscal years.

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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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Spotlight on Art Resendez, Accounting Manager at Reconciled Solutions

Reconciled Solutions

We are pleased to introduce you to our newest team member at Reconciled Solutions: Art Resendez. Art will be working remotely from his home in. The post Spotlight on Art Resendez, Accounting Manager at Reconciled Solutions appeared first on Reconciled Solutions.