Fri.Jan 10, 2025

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IRS to start tax season on Jan. 27

Accounting Today

Newly expanded and improved tools will be available when tax season kicks off this month.

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How to Calculate Accounts Payable Automation ROI

AvidXchange

Table of Contents: AP Automation ROI Calculator | Factors for Calculating Accounts Payable Automation ROI | How to Calculate AP Automation ROI | Intangible Benefits of AP Automation | Tips for Maximizing Accounts Payable Automation ROI | Take the Guesswork Out of Accounts Payable Automation ROI Automating accounts payable (AP) processes can result in many benefits for busy finance and accounting departments.

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Tech roundup: Intuit guarantees tax refunds 5 Days early into any bank account

Accounting Today

Intuit guarantees tax refunds 5 Days early into any bank account; IRIS beefs up Firm Management solution, customer success function; and other accounting tech news and updates.

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Top A/R & Invoice Management Tips for B2B Companies

Enterprise Recovery

As accounts receivable (A/R) become delinquent, your business expenses could fall behind. With every late-paying client, cash flow for payroll, rent, or other vendors falls short, threatening your company's bottom line and growth. The effectiveness of your A/R department may be one of the most important measurements to determine the success of your business.

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Building a Business Case for Finance Automation

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.

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On the move: HCVT adds to partnership

Accounting Today

Ericksen Krentel elects sixth MP; Yeo & Yeo, Grassi and BMSS move offices; IFRS Foundation appoints three new trustees; and more news from across the profession.

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Cryptocurrency Accounting for Small Businesses in Singapore

Counto

Cryptocurrency Accounting for Small Businesses in Singapore As cryptocurrency continues to gain popularity worldwide, many small businesses in Singapore are exploring its potential as an alternative form of payment or an investment option. However, accounting for cryptocurrency can be complex, and understanding the proper treatment is essential for ensuring your business remains compliant and financially organised.

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Reimagining CPE for modern accountants

Blake Oliver

Heres a powerful piece by Drew Carrick of FloQast on the future of CPE in accounting. As our profession undergoes massive transformation, he asks: shouldn't our approach to professional education evolve, too? Drew writes: What if instead of being a tedious, burdensome, annual maintenance chore, continuing professional education was, like a college degree or technical credential, something that enabled you to advance in your career?

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Deadline extended for Top New Products submissions

Accounting Today

The deadline for our Top New Products list has been moved to Wednesday, Jan. 15.

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Why this CPA turned down the $800k partner track for work-life balance

Blake Oliver

$839,000. That's what equity partners in the top 400 public accounting firms make on average now (excluding the Big Four). Want to know the hidden cost of that salary? Working more hours than anyone else in the firm - and being less happy for it. On the Earmark Podcast , I spoke with Yuri Kapilovich, CPA about this brutal reality. Equity partners work an average of 50+ hours per week, and their job satisfaction score is just 6.7 out of 10 - no better than managers making a fraction of their inco

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IRS and Treasury propose regs on 401(k) auto enrollment, Roth IRA catchup contributions

Accounting Today

The proposed regulations involve several provisions of the SECURE 2.0 Act, including auto enrollment in 401(k) and 403(b) plans, and the Roth IRA catchup rule.

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Fall In Love With the Month-End Close

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.

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Blockchain technology reshapes traditional asset verification

Blake Oliver

Digital assets aren't just about crypto. On the Earmark Podcast, I talked with Noah D. Buxton from The Network Firm about how blockchain technology is starting to impact traditional assets like real estate and commodities. This creates a huge opportunity for CPAs. After all, someone needs to verify these assets actually exist - and we saw what happens when nobody does proper verification (looking at you, FTX).

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Treasury, IRS propose rules on commercial clean vehicles, issue guidance on clean fuels

Accounting Today

Proposed new rules were issued for the tax credit for qualified commercial clean vehicles, along with guidance on claiming tax credits for clean fuel.

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The best argument for why BOI reporting is unconstitutional

Blake Oliver

This is the best argument I've read yet as to why BOI reporting is unconstitutional. Essentially, the government is claiming they can force you to report your ownership information just because your business might engage in interstate commerce someday. But that's like saying they can regulate your newborn because the kid might grow up to be a truck driver.

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The accounting implications of a Bitcoin reserve

Accounting Today

The new administration has discussed creating a strategic Bitcoin reserve. What accounting changes would we see as a result?

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

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.

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Streamlining 1099 Season with Keeper: Simplified W-9 Collection for Accountants

Insightful Accountant

As 1099 season approaches, accountants face the annual challenge of collecting W-9s from contractorsa task often fraught with inefficiencies and missed deadlines. Keeper offers a seamless solution to simplify this process.

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Life insurance performance evaluation strategies for accountants

Accounting Today

Regular reviews can determine whether a life insurance policy is performing according to expectations and meeting the client's current financial objectives.

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IRS Free File Opens Today

Insightful Accountant

I.R.S. Free File opens today, Friday January 10, 2025. IRS Free File can only be started from the IRS Free File webpage at IRS.gov.

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Ex-Credit Suisse client charged by US amid tax evasion probe

Accounting Today

Officials are weighing whether the bank now owned by UBS breached a 2014 plea deal in which it paid $2.6 billion and admitted helping Americans evade taxes.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

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.

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How H1-B Visas Suppress Accounting Salaries

Cloud Accounting Podcast

Blake and David explore the controversial H-1B visa program's impact on the accounting profession, particularly how firms like Deloitte reportedly pay visa holders 10% less than U.S. workers and the potential implications for audit quality. They also examine Bench's sudden shutdown and subsequent acquisition and then discuss Barry Melancon's farewell interview with the Financial Times as he steps down as AICPA CEO, where he defended the 150-hour rule, his legacy, and his impact on the profession

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Denmark targets investors tied to Sanjay Shah at US tax scandal trial

Accounting Today

Weeks after Danish judges sentenced the hedge fund trader to 12 years in prison, the country's lawyers turned to a U.S. court to recoup about $500 million.

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Wildfire Insurance in California: How To Navigate, Costs & Coverage

Fit Small Business

Wildfire insurance in California or any other state is not a special type of policy. Any type of fire (including a wildfire) is a named loss covered under a standard commercial property policy. Commercial property insurance can be purchased either as a stand-alone policy or bundled with several other policies in whats called a business. The post Wildfire Insurance in California: How To Navigate, Costs & Coverage appeared first on Fit Small Business.

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Pro Football Hall of Fame

Tipalti

Tipalti completely changed how the Pro Football Hall of Fames accounting team works. Streamlining its accounts payable process gave the Hall of Fame room to focus on what really matters.

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Cash Flow Secrets Every Upskilled CPA Should Know

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.

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Types of Business Licenses

Black Ink Tax & Accounting

Table of Contents Common types of business licenses For those looking to kickstart a business, an important step is making […] The post Types of Business Licenses appeared first on bitaccounting.

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Meet James Harris — From an Atlanta Barbershop to Intuit’s Strategic Accounts

Intuit

Meet James Harris A dozen years into a high-achieving financial services sales career, James Harris was ready for a new challenge. At companies including J.P Morgan, Wells Fargo, First Data Corp, Fiserv, and Equifax, James had built a reputation for commitment, ownership, and performance. Now, he wanted to find a company on the leading edge of innovation with ambitious goals for growth.

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How long does an IRS audit take

Black Ink Tax & Accounting

Table of Contents How long does an IRS audit take The IRS audit is a comprehensive examination of your business’s […] The post How long does an IRS audit take appeared first on bitaccounting.

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What Is Plumbing Insurance? Cost & Coverage Explained

Fit Small Business

Plumbing insurance coverage is an important part of a successful plumbing company and consists of general liability and equipment coverage. Depending on the size of the business, plumbing insurance will include workers compensation and commercial auto, too. Plumbing insurance costs between $45 and $100 a month for general liability. Plumbers will pay a lot less.

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Profit in the Details: Rethinking Spend for Monumental Impact

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

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5 Stress Management Tips Every New Entrepreneur in Singapore Needs

Counto

5 Stress Management Tips Every New Entrepreneur in Singapore Needs Starting a business is an exciting journey, but for new entrepreneurs in Singapore, it can also be a source of significant stress. From navigating complex regulations to managing tight deadlines, the pressure can quickly mount. Effective stress management is essential for staying productive and focused, and maintaining your well-being while building a successful business.