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Featured….
Social Media Impulse Buying Reaches $71 Billion in Last Year
Two Found Guilty in $1.3 Billion Conservation Easement Scheme
The Technology Lab Podcast – Rapid Close Tools – Sept. 2023
Gen Z Employees Aren’t Checked Out at Work, They’re Hungry for Mentorship
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.
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
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.
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.
FTC Warns Five Tax Prep Giants About Possible Fines for Misusing Client Data
Companies could face thousands of dollars in fines for using clients’ confidential data for purposes other than tax preparation.
Five Tips for Giving Employees Gifts That Will Make a Difference
Recognizing employees for their hard work and contributions is a cornerstone of successful employee retention. It’s a way of saying, “We value your efforts, and you are an integral part of our success.”
Office Jargon No-Nos: Avoid Using These Nine Business Phrases
A survey found that most employees agree that jargon is overused while also admitting they often don’t realize they’re using it.
Generational Slang Divide at Work Makes Communication More Difficult, Survey Finds
Nearly a quarter to a third of every generation in the workplace have trouble understanding other generations.
Professionals on the Move: Sept 2023
Professionals on the Move is a round-up of recent hiring and promotion announcements from around the profession.
Xero Partners with PrimeGlobal
PrimeGlobal is an association of independent accounting and business advisory firms comprising more than 300 highly successful independent member firms across 112 countries.
Your Firm and Your Fall Game Plan
What does your game plan for this fall include? It would be best if you took this time to address the top few issues and develop a plan to complete those by mid-December while accommodating tax planning, Client Accounting Services, and cleaning up any other open projects for the year.
How to Accurately Price Advisory Services
It involves an understanding of your clients’ unique needs, the complexities of their business, the value your firm is offering and bringing to the table, and the competitive landscape.
AICPA & CIMA Launch AI-Guided Tool for Students Pursuing Careers in Accounting and Finance
Career Launchpad offers AICPA & CIMA student members an opportunity to access real-world career stories, expert advice, and behind-the-scenes information from seasoned accounting professionals on subjects including salaries, résumé preparation…