2023

article thumbnail

IRS plans foreign tax credit rules

Accounting Today

The Treasury Department and the Internal Revenue Service expect to issue proposed regulations to address the application of the foreign tax credit and related rules and the dual consolidated loss rules to certain types of taxes described in the GloBE Model Rules.

Tax 325
article thumbnail

A sneak peek into what’s next for reports in Xero

Xero

Our team hit the ground running in 2023, introducing a number of exciting features to new reports that we know you’ve been waiting for — including the addition of foreign currency to new reports. Here are some of the highlights and a sneak peek into what’s coming next. Don’t forget, the older versions of our reports will be retired on 31 July 2023. We urge you to start using new reports now , so you have plenty of time to get used to them before the older versions are retired.

XERO 325
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Swift Payment

Tipalti

Navigate SWIFT payments confidently with our step-by-step guide. Get ready to make fast, secure, and accurate cross-border payments using the SWIFT payment system.

145
145
article thumbnail

Firms look at ways to attract young people to accounting

Accounting Today

Accounting firms need to pay more to bring young people into the profession, as starting salaries are still lagging compared to other fields, and they have to make other changes in how the job is structured.

article thumbnail

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.

article thumbnail

Could a simple licensing change increase the number of CPAs by 15%?

Blake Oliver

A University of Denver professors suggests replacing the 150-hour rule with a four-year degree and two years of work experience.

CPA 129
article thumbnail

CFOs should embrace digital transformation or risk irrelevance

Accounting Today

In an ever-shifting global landscape full of economic uncertainties, the traditional role of chief financial officers is undergoing a seismic evolution.

352
352

More Trending

article thumbnail

In the News - September 1, 2023

Insightful Accountant

Murph wants to help you keep abreast of things happening around you—from news to vendor releases, conference tips and IRS updates. If he thinks you need to know, he's telling you.

126
126
article thumbnail

6 Common QuickBooks Hosting Myths Dispelled

Ace Cloud Hosting

QuickBooks hosting is a powerful technology that enables businesses to experiment and innovate rapidly, often regarded as a catalyst for “speed-to-market” and a driver of remote accounting. By providing on-demand.

article thumbnail

Integrating AI into Your Finance Function

Nanonets

Emerging technologies such as artificial intelligence and machine learning have transformed the traditional finance function by making processes efficient, improving accuracy, and enabling data-driven decision-making. According to a Forrester survey, 98% of financial institutions believe that AI and ML can give them an edge and improve how they do business.

article thumbnail

What Are S3 Lifecycle Rules? When Should You Use Them?

CloudZero

Amazon Simple Storage (S3) has become a cornerstone in the world of cloud computing, offering scalable and secure object storage solutions for a wide range of applications.

article thumbnail

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.

article thumbnail

IRS to offer free direct file online tax system in 13 states

Accounting Today

The Internal Revenue Service plans to run a limited pilot test of its free online tax system in 13 states next tax season, but it will only support certain tax credits.

Tax 349
article thumbnail

IRS requires business to start e-filing Form 8300 in 2024

Accounting Today

The Internal Revenue Service is telling companies they will need to start electronically filing their forms reporting cash payments over $10,000, starting Jan. 1, 2024.

Tax 351
article thumbnail

IRS expands features in Tax Pro Accounts

Accounting Today

The Internal Revenue Service is allowing tax practitioners to see their client's tax information, including balance due amounts, as well as withdraw from their active authorizations online in real time.

Tax 337
article thumbnail

A Place Where Women in Sales Want to Work

Intuit

Championing women in sales When companies ramp up their diversity and inclusion efforts, their focus usually goes to tech and engineering roles. But women are underrepresented in sales, too. That’s why it’s meaningful that Intuit was recently recognized as number one on the list of the “Top 25 Companies Where Women Want to Work” released by GirlsClub, a professional organization focused on getting more women in sales leadership.

article thumbnail

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.

article thumbnail

IRS offers process for withdrawing bogus ERC claims

Accounting Today

The Internal Revenue Service is giving employers a way to rescind inaccurate claims for the Employee Retention Credit if they've fallen victim to a scam at the hands of so-called "ERC mills.

Tax 325
article thumbnail

EAs call on IRS to restart balance due notices

Accounting Today

The National Association of Enrolled Agents is asking the Internal Revenue Service to resume sending reminder notices immediately to non-filers and those with balances due of more than $10,000.

Tax 325
article thumbnail

IRS introduces business tax accounts as it targets big corporations for audits

Accounting Today

The Internal Revenue Service is making improvements to its online tax professional accounts and hiring more accountants as it ramps up enforcement.

Tax 357
article thumbnail

Younger accountants more likely to leave employers

Accounting Today

Young accounting and finance professionals have been seeing the highest turnover over the past two years and are most likely to leave their current jobs over the next year, according to a new report.

article thumbnail

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.

article thumbnail

Auditors more worried about cybersecurity than AI risks

Accounting Today

A majority of chief audit executives and information technology audit leaders consider cybersecurity to be a top risk over the next year, but they're less concerned about artificial intelligence.

Auditing 322
article thumbnail

Cybersecurity for CPAs: Don't empower imposters

Accounting Today

By clicking on malicious links and then entering your login information, you risk letting cybercriminals pretend to be you and send out $250,000 worth of fake invoices.

Invoicing 324
article thumbnail

Nearly 1,000 millionaires haven't filed tax returns

Accounting Today

Close to a thousand taxpayers who earn over $1 million a year failed to file tax returns over multiple recent years, potentially owing $34 billion in taxes, according to IRS data.

Tax 314
article thumbnail

The ERC nightmare

Accounting Today

Lots of businesses have claimed the Employee Retention Credit who don't actually qualify for it — and in many cases it's going to be up to their accountants to set them right, says Randy Crabtree.

article thumbnail

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!

article thumbnail

Art of Accounting: Problems with accounts receivable besides collecting them

Accounting Today

Delaying a payment or not paying an invoice and letting amounts pile up are a way for a client to give voice to a problem with your services without causing an immediate confrontation.

article thumbnail

IRS announces aggressive enforcement focus

Accounting Today

Following a top-to-bottom review of enforcement efforts, the agency is shifting more attention from working-class taxpayers to high-income earners, partnerships, large corporations and promoters of abusive tax shelters.

Tax 318
article thumbnail

Promoting an employee may lead them to leave

Accounting Today

The ADP Research Institute released a report on how worker promotions can affect businesses and employee retention and debuted a new index for tracking employee motivation and commitment.

Payroll 318
article thumbnail

Audit committee disclosures increased over past decade

Accounting Today

Corporate audit committees have been providing investors with a greater number of disclosures about their activities and responsibilities over the past 10 years, but there's still room for improvement.

Auditing 309
article thumbnail

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!

article thumbnail

Lower 1099-K threshold may force sellers to drop out

Accounting Today

The lowering of the Form 1099-K threshold from $20,000 to $600 will not only produce millions more forms to be sent to taxpayers, but could also prompt many of them to abandon online marketplaces and gig economy jobs.

Tax 309
article thumbnail

Accountants, IRS and DOJ hunt for fraud

Accounting Today

The Internal Revenue Service is warning taxpayers to be on the lookout for charity fraud as accountants look to advise clients on how to detect and avoid fraud.

article thumbnail

Why 2024 will be the year of generative AI for investment accounting

Accounting Today

While it initially garnered attention for its creative applications in content and image generation, the true potential of generative AI lies in its ability to unlock new ways of thinking in the business world.

article thumbnail

PwC to take big steps on audit quality, independence, accountability

Accounting Today

The Big Four firm plans to stop offering some types of services to SEC-registered audit clients, and to cut the compensation of top leaders if the firm's audits fall short on quality.

Auditing 314
article thumbnail

Book of Secrets for the Month-End Close

Developing a consistent month-end close doesn’t need to be a mystery. We’re sharing our top 10 secrets (plus one bonus!) for streamlining your close.