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Featured….
Trump Goes Big on Tariffs During Chicago Appearance
ContractPodAi and KPMG Announce Strategic Alliance to Transform Managed Legal Services with AI
Making Accounting Work: The Balance of Technology and Teamwork
Pivot Payables Joins American Express Sync
Contributors….
Randy Johnston
Brian Tankersley
Darren Root, CPA, CITP, CGMA
Becky Livingston
Ken Berry, JD
Webinars and CPE….
CPE Webcast Nov. 14. – Selecting the Right Payroll Partner for Your Business Growth
CPE Webcast Oct. 24. – Stop Resisting Change & Start Controlling It
Events….
Technology
K2 Artificial Intelligence Conference – June 20 – 8 Hours CPE Available
K2 Enterprises will host the Accountant’s Artificial Intelligence Conference, a new virtual event that is set to make an indelible mark on your professional skill set.
Taxes
Tax In Motion 2024 Federal Tax Forum – June 25-26, 2024
Join RSM’s highly anticipated two-day federal tax forum for comprehensive sessions covering crucial updates in federal tax regulations and practices.
IRS Provides Tax Relief to All of Florida After Hurricane Milton
Because of hurricanes Debby, Helene, and Milton, affected taxpayers have until May 2025 to file returns and make tax payments.
How the Accounting Community is Rallying Around Victims of Hurricane Helene
CPA Practice Advisor wants to highlight those who have begun or are in the process of mobilizing efforts to help those impacted.
2024InnovationAwards
The 2024 Tax and Accounting Technology Innovation Awards Announced
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.
Nominations Open for 2024 “40 Under 40” and “20 Under 40” Awards
The 40 Under 40 Awards spotlight the top practicing public accountants, educators and thought leaders who are leading their profession by visibly and incrementally changing the accounting profession.
Taxes
Trump Goes Big on Tariffs During Chicago Appearance
The former president and GOP nominee vowed to “bring the companies back” to the U.S. during an interview in Chicago on Oct. 15.
Firm Management
ContractPodAi and KPMG Announce Strategic Alliance to Transform Managed Legal Services with AI
KPMG chose Leah, ContractPodAi’s generative AI platform for lawyers, to power its new managed legal services capability.
Technology
Making Accounting Work: The Balance of Technology and Teamwork
The adoption of new technology also requires investment in training, as systems are only as effective as the people using them.
Accounting
Pivot Payables Joins American Express Sync
New B2B payments collaboration provides Pivot Payables’ users more ways to manage expenses, payments, and cash flow.
Auditing
DataSnipper Acquires UpLink, Releases New Product DocuMine
The move expands DataSnipper’s goal of building a comprehensive AI-powered audit ecosystem with global impact, the company said.
Small Business
2024 Holiday Retail Spending Forecast to Grow Up to 3.5 Percent
Online and other non-store sales, which are included in the total, are expected to increase between 8% and 9% to a total of between $295.1 billion and $297.9 billion.
Taxes
IRS Warns of Hurricane Charity Scams
Scammers commonly set up fake charities to take advantage of peoples’ generosity during natural disasters and other tragic events.
Taxes
Tax Court Delivers Mixed News on Charitable Appraisals
The moral of the story is that you should not run risks with so much at stake. The cost of an accurate qualified appraisal from a reputable source is money well spent.
Technology
Decisions 2024: A Modern Experience
With a multitude of storm-related extension, maybe tax season isn’t quite over after all. However, for most of you, the flurry of activity for tax extensions is past. It’s time to turn to the projects needed to prepare for the new year.
Payroll
ADP Acquires WorkForce Software
This acquisition will expand ADP’s global offering of workforce management solutions and enable future innovation in the space.
Taxes
Tax Experts See Long Standoff Over Expiring Provisions
Deep ideological differences could make striking an agreement on expiring tax breaks difficult if there is divided government.
Payroll
How Much Do You Need to Earn Annually to Afford a $1 Million Home?
According to a new report from Zillow, the number of homes in the United States valued at $1 million or more is at a record high.
Taxes
Trump Floats Tax Write-Off For Auto Loans in Detroit Speech
Latest proposal comes as former president makes play for votes in Michigan, where Harris’ lead has dwindled.
Payroll
Struggle to Retain and Attract Finance and Tax Talent is Peaking, EY Says
Professionals without a university degree have now become important to companies’ talent strategies, a new EY survey reveals.
Taxes
AICPA Pushes Back on Treasury and the IRS Overreaching Guidance Package
The American Institute of CPAs recently submitted a comment letter to the Department of the Treasury and the Internal Revenue Service in response to their release of a guidance package addressing certain basis-shifting transactions involving partnerships and related parties.
Small Business
Mid-Market Business Optimism Hits Record High of 74%
Optimism among mid-market business leaders has reached a record high with 74% optimistic about the outlook for their economy over the next 12 months, according to Grant Thornton’s latest International Business Report (IBR).
Payroll
Although Fewer in Number, Female CEOs Earn More than Male Colleagues, Says Report
Women CEOs at large U.S. public companies outearned their male counterparts in 2024. The median compensation for female CEOs in the S&P 500 was $16.4 million, while their male counterparts earned $15.6 million.
Technology
Corporate Tax Leaders’ Views on GenAI Have Flipped, EY Survey Finds
CFOs’ and corporate tax executives’ stances on GenAI have shifted over the past year—from mostly negative to mostly positive.
Taxes
IRS Gives Tax-Exempt Entities Additional Time to Make Payment Election
Certain tax-exempt organizations that are making an elective payment election are getting a six-month extension to file Form 990-T.
Income Tax
TurboTax Ad Irritates Some Tax Professionals
The ad tells Americans they should have a “tax break up” with their professional preparer by using one of TurboTax’s live experts.
Firm Management
Cherry Bekaert Picks Up ArcherPoint, Suite Engine
The acquisitions expand the top 25 accounting firm’s enterprise resource planning and technology and consulting capabilities.
Taxes
IRS Provides Tax Relief to All of Florida After Hurricane Milton
Because of hurricanes Debby, Helene, and Milton, affected taxpayers have until May 2025 to file returns and make tax payments.
Accounting
GASB Asks For Input on Infrastructure Assets Proposals
Several proposals on the accounting for infrastructure assets are on the table to review and provide feedback.
Accounting Standards
AI and Privacy Regulations – The Accounting Technology Lab Podcast – Oct. 2024
Hosts Brian Tankersley, CPA, and Randy Johnston discuss how the privacy implications of artificial intelligence and new regulations attempting to address these issues.
Firm Management
RSM US and RSM UK Plan Merger of Transatlantic Units
The merger would establish a partner-owned multinational organization spanning locations across the U.S., the UK, Canada, Ireland, India and El Salvador, supported by 23,000 professionals, with combined annual revenues of $5 billion U.S.
The Missing Piece of Your M&A Plan: Merging Process & Technology
Firm leaders often overlook a critical aspect of uniting two firms: integrating processes and technology.
Taxes
Tax Gap For 2022 Estimated At $696 Billion, IRS Says
The projected gross tax gap for 2022 is down $12 billion from a revised 2021 tax gap of $708 billion, the agency said Oct. 10.
Accounting
Numeric Raises $28 Million in Series A Funding
The new $28 million in funding comes on the heels of a $10 million seed round announced five months ago.
Financial Reporting
Validis Launches Upload Functionality to Streamline Data Collection
The new Upload functionality now makes Validis accessible to all businesses, regardless of their accounting package.
Payroll
SSA Issues 2.5% COLA Increase For 2025
The Social Security Administration’s cost of living adjustment for 2025 is the lowest increase recipients have received in years.
Small Business
Convenience Stores Face Many Challenges on Regulated Business Licenses
The multitude of products sold may require obtaining licenses from federal, state, county, and local jurisdictions.