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Featured….
Accounting Association CPAmerica adds Paro as Preferred Provider
CohnReznick, BDO USA Among the Most Loved Workplaces in America
Halloween Shopping Expected to Top $12.2 Billion; The Top Costumes for 2023
AICPA Asks IRS to Release Contingency Plan in Case of Government Shutdown
Contributors….
Becky Livingston
Garrett Wagner
Richard D. Alaniz
Randy Johnston
Webinars….
CPE Webinar September 28, 2023: Source Doc Gathering, Delivery & E-Sign Issues
CPE Webinar September 27, 2023: Guide to Data Security, Compliance, & Outsourcing for Accounting Firms
Events….
Webcast: Sept. 27: Proactive Tips to Future-Proof Your Firm with Automation, AI, and CAS
“Future proofing” has been a ubiquitous post-pandemic buzzword. But how can you actually set your firm up for success? The answer is two-fold: automation/AI and client advisory services (CAS).
Accounting
Reimagining Accounting Workflow: WorkflowCon 2023 Coming in October
This two-day conference promises to equip industry professionals with the knowledge and tools necessary for unprecedented success.
IRS Establishing New Unit to Crack Down on Tax Dodging by Pass-Throughs
Group within LB&I will be tasked with holding large partnerships and other pass-throughs accountable on tax compliance.
AI Systems Take Center Stage in 2023 Innovation Awards
The Innovation Awards are presented to honor new or recently enhanced technologies that benefit tax and accounting professionals and their clients through improved workflow and efficiencies, increased accessibility, enhanced collaboration, greater accuracy, or other means.
Accounting Association CPAmerica adds Paro as Preferred Provider
This new partnership provides member firms access to Paro’s growth platform, bringing together a community of expert talent and businesses to navigate your immediate challenges and architect a plan for your long-term success.
CohnReznick, BDO USA Among the Most Loved Workplaces in America
The third annual ranking from Newsweek recognizes 100 companies that have fostered employee-centric workplaces.
Halloween Shopping Expected to Top $12.2 Billion; The Top Costumes for 2023
The top ways consumers are planning to celebrate are handing out candy (68%), decorating their home or yard (53%) or dressing in costume (50%).
AICPA Asks IRS to Release Contingency Plan in Case of Government Shutdown
The letter goes on to express concern that an October shutdown of the government will likely impact the timely processing of extended 2022 tax returns due by Oct 16, 2023.
Retail Theft Totaled $112 Billion in 2022, Says NRF
Retailers reported that organized retail crime remains a significant concern due to heightened levels of violence. More than two-thirds (67%) of respondents said they were seeing even more violence …
From Solo to Squad: Building a Team-Based Firm for Success
Many accountants begin as solopreneurs but eventually want a reliable team. So, how can you make this transition smoothly without overwhelming yourself or your clients?
Ways and Means Votes to Release More of Hunter Biden’s Tax Documents
The House panel voted along party lines to disclose additional documents related to the probe into the president’s son’s taxes.
AICPA Launches Quality Management Practice Aid for Accounting and Auditing Practices
The practice aid is among numerous resources the AICPA provides to help firms successfully implement the QM standards.
Social Media Impulse Buying Reaches $71 Billion in Last Year
Social media appears to be having a significant influence on consumer spending, as a new Bankrate report reveals that Americans spent $71 billion on impulse purchases of products they saw on a social media platform in the past year, with the average impulse buyer spending $754.
Two Found Guilty in $1.3 Billion Conservation Easement Scheme
Jack Fisher and James Sinnott designed, marketed and sold to high-income clients abusive syndicated conservation easement tax shelters based on fraudulently inflated charitable contribution tax deductions, promising them deductions 4.5 times the amount the taxpayer clients paid.
Judge Finds Trump Liable for Fraud in $250 Million New York Lawsuit
In an unexpected portion of his decision, the judge essentially stripped Trump of the ability to run his businesses in New York by canceling his certificates and any controlled by his adult sons.
The Technology Lab Podcast – Rapid Close Tools – Sept. 2023
Technologists Randy Johnston and Brian Tankersley, CPA, talk about the latest advances in rapid close / financial close software.
Gen Z Employees Aren’t Checked Out at Work, They’re Hungry for Mentorship
A recent survey of young workers found that many are not getting the mentorship they crave and the training they need.
Small Business Owners’ Confidence in the Economy Nears Pre-Pandemic Highs
Business owners report increasing optimism about their businesses and the state of the economy, but inflation is still a concern.
Consumer Confidence Falls to a Four-Month Low in September
Dampened by a deteriorating outlook for the economy and labor market, consumer confidence dropped to its lowest since May.
AICPA Supports Legislation that Recognizes Accounting as a STEM Career Pathway
The bills highlight the clear and logical integration between accounting and technology, the AICPA says.
How Accounting Firms Are Winning the Automation Game
Eighty-nine percent of accountants say automation makes their firm more profitable and efficient, according to a new BILL report.
Hundreds of Illinois CPAs Participate in Annual Day of Service
Hundreds of certified public accountants across Illinois participated in the Illinois CPA Society’s 14th annual CPA Day of Service on Sept. 23, 2023, with others still planning activities later this fall.
Five Amazing Accounting Apps and Features
While the definition of an “amazing” app varies by user, for the purpose of this article it is one that increases productivity, improves collaboration, assures compliance, can be quickly onboarded by the firm, and requires reasonable training for firm members (as well as for clients) to become proficient.
QuickBooks Money Offers Subscription-Free Payments and Banking for Small Businesses
Intuit recently announced the debut of QuickBooks Money, a new, all-in-one payments and banking solution with no monthly fees or minimum balance requirements that gives small businesses complete control of their money from anywhere.
Docyt AI Enables Real-Time Accounting with New Advanced Generative AI Capabilities
Docyt AI streamlines and accelerates accounting processes like never before, empowering accounting professionals to eliminate manual tasks in financial workflows and gain precise, real-time visibility into the financial health of their businesses.
IRS Rolls Out New Chatbot Feature for Certain CP Notices
Chatbots will be used to help answer basic taxpayer questions about three notices in the CP series, the IRS said on Tuesday.
If the Government Shuts Down, How Will it Affect the IRS?
With a government shutdown looming, some wonder how IRS operations would be affected. Does the agency have a plan?
AI Stats and Trends for Small Business Marketing
The small businesses who are currently using tools powered by AI overwhelmingly agree that it is making their businesses more successful. They are working more efficiently, saving money, improving customer experiences, and growing quicker.
BDO USA, Two Audit Partners Tagged with Fines for Breaking PCAOB Rules
BDO USA was fined $2 million and two of the firm’s partners were fined a total of $60,000 for failures in the 2017 audit of AAC Holdings.
Only Richest 20% of Americans Still Have an Abundance of Pandemic Savings
For the bottom 80% of households by income, bank deposits and other liquid assets were lower in June this year than they were in March 2020.
IRS Updates 2023-2024 Per Diem Rates for Business Travelers
Taxpayers can use the special per diem rates to substantiate the amount of expenses for lodging, meals, and incidental expenses.
NJCPA Kicks Off Annual Food Drive
The Community FoodBank serves 15 counties in the state, distributing food to charities, soup kitchens, emergency shelters, food pantries and other places of need.
Armanino to Merge in Top 200 Firm Janover
Once the transaction closes on Nov. 1, Janover’s 20-plus partners and more than 200 team members will join Armanino.
IRIS Software Group Expands Human Resources Offerings to the Americas
The new capabilities include Global HR consultancy (HRC) and enhanced HR software enabling organizations in the Americas to seamlessly scale HR operations with confidence in global compliance.
FloQast Launches New Solutions at User Conference
These additions are designed to both improve the way accounting teams work and enhance their professional development.
IRS Gives Tax Relief to Those Affected by Hurricane Lee in Massachusetts and Maine
All individuals and business owners in these two states now have until Feb. 15, 2024, to file their returns and make tax payments.