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Featured….
Gusto Introduces ‘Gus’ AI Assistant For Small Businesses
Report Shows How Finance Teams are Handling AI, Skill Gaps, Data Integration and ESG
Wolters Kluwer Analyzes Tax Policies of Harris and Trump
Wolters Kluwer Enhances CCH Axcess Audit Solution
Contributors….
Randy Johnston
Darren Root, CPA, CITP, CGMA
Becky Livingston
Garrett Wagner
Richard D. Alaniz, JD
Webinars and CPE….
Charting the Future of Accounting – Sept. 12 Webcast
CPE Webcast – Unlocking Success: Building Your Small Firm’s Ideal Tech Stack
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.
Survey Results Are In: Charting the Future of Accounting
Explore the evolving landscape of the accounting profession with this comprehensive report from Canopy and CPA Practice Advisor.
Focus & Flow: The ADHD Accountant’s Survival Guide
There’s a growing number of accountants admitting they have ADHD and their struggles with the neurological condition. This Reddit thread asking if there were ADHD accountants has over 140 comments, with people sharing their experiences of living with ADHD in accounting.
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.
Federal Reserve Could Cut Interest Rates This Week
The Open Market Committee meets about eight times a year to consider changes to the Federal Funds Rate, which is the rate charged to huge banks for overnight loans.
Small Business
Gusto Introduces ‘Gus’ AI Assistant For Small Businesses
Gus is aimed at helping small business owners save time, get personalized insights, and make smarter business decisions.
Financial Reporting
Report Shows How Finance Teams are Handling AI, Skill Gaps, Data Integration and ESG
The report analyzes data integration challenges, the rise of artificial intelligence (AI), essential shifts in cloud computing, and the ongoing impact of staffing and skills challenges across the finance and accounting sectors.
Taxes
Wolters Kluwer Analyzes Tax Policies of Harris and Trump
The tax briefing aims to distinguish the candidates’ tax priorities and propose how their policies could potentially affect all taxpayers.
Auditing
Wolters Kluwer Enhances CCH Axcess Audit Solution
The expanded cloud-based platform integrates with other CCH Axcess modules for faster, more precise engagements.
Taxes
Vance Says Trump Tariffs Would Help Pay For His Tax Cuts
Donald Trump floated the idea of tariff hikes to offset some income tax cuts to House Republicans in June.
Taxes
IRS Issues Proposed Regs on Tribal General Welfare Benefits
Comments may be submitted through the Federal Register. Tribal leaders may also submit comments through the Tribal consultation process.
Payroll
Medicare 101 for Accountants: Essential Information for CPAs Advising Retiree Clients
This article provides a comprehensive guide to Medicare basics, equipping CPAs with the knowledge needed to help their clients navigate this essential component of retirement planning.
Advisory
Review of Aider – The Accounting Technology Lab Podcast – Sept 2024
Hosts Randy Johnston and Brian Tankersley, CPA, review the Aider Advisory Intelligence Platform. Aider is for accountants and bookkeepers who want to monitor their clients’ real-time business performance and build.
Small Business
Retail Sales Grew in August as Inflation Decreased
Total retail sales, excluding automobiles and gasoline, were up 0.45% seasonally adjusted month over month and up 2.11% unadjusted year over year in August, according to the Retail Monitor.
Firm Management
Deloitte Global Hauled in $67.2 Billion in Revenue This Year
That’s a 3.6% increase in U.S. dollar terms and 3.1% in local currency terms from 2023’s global revenue of $64.9 billion.
Accounting
Wiss Enters Strategic Partnership With AI Platform Basis
Basis will be deployed across the firm to enhance efficiency, reduce risk, and improve the quality of work-life balance for accountants.
Taxes
House Passes Bill Tightening China Restrictions for EV Tax Credit
The legislation tightens rules around Chinese business ties in determining which electric vehicles qualify for federal tax credits.
Taxes
Trump Pledges No Taxes on Overtime
Trump said his no-tax-on-overtime idea would help companies lure more workers and keep them on the job site for longer.
Taxes
IRS Offers Tax Deadline Extensions for Louisiana Due to Hurricane Francine
These taxpayers now have until Feb. 3, 2025, to file various federal individual and business tax returns and make tax payments.
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Small Business
Avalara and Oracle Expand Embedded Partnership to Support Global Tax Compliance
The Avalara Global Turnkey Tax Activation’s touchless automation simplifies and reduces months of data cleansing and imports down to a few hours.
Accounting
State CPA Society News and Updates – Sept. 2024
State CPA Society News & Updates is a selection of recent announcements and initiatives by CPA associations in the United States and its territories.
Accounting
AICPA, NASBA Seek Input on Proposed New Pathway to CPA Licensure
The two groups are asking the public for feedback on a proposed competency-based experience option for licensure.
Accounting
Forensic AI Accounting: A New Era of Proactive Fraud Monitoring is Coming
Technology can put “eyes” on every transaction, empowering organizations of all sizes to catch fraud before it empties accounts.
Staffing
Professionals on the Move – Sept. 2024
Professionals on the Move is a highlight of recent staffing and promotion announcements from around the profession.
Accounting
AICPA News – Sept. 2024
AICPA News is a round-up of recent announcements from the American Institute of CPAs.
Technology
AI is Pushing the Boundaries of B2B Order-to-Cash Operations
83% of respondents indicate that digital transformation across their order-to-cash processes is critical to their organization’s survival vs. 77% in a 2023 survey.
Firm Management
Georgia Society of CPAs and Feeding Georgia’s Accounting Food Fight Raises $347,000 for Food Banks
The Georgia Accounting Food Fight is timed each year to restock the food banks after the summer surge they experience due to the conclusion of the school year (and school lunch assistance programs).
Firm Management
PwC to Give Pink Slips to 1,800 Employees Next Month
The Big Four firm is trimming about 2.5% of its U.S. workforce, primarily in its advisory practice and products and technology operations.
Payroll
Teacher Pay Increased in 2023, But Still Lags Other College Graduate Professions
The average weekly wage of teachers has been falling behind that of other college graduates since 1996–when the teacher pay penalty was 6.1%–and more so since 2014.
Taxes
IRS Issues Proposed Regs for New Corporate Alternative Minimum Tax (CAMT)
The proposed regulations provide definitions and general rules for determining and identifying AFSI. They also include rules regarding various statutory and regulatory adjustments in determining AFSI.
Accounting
M&A Professionals See an Increase in Deal Volume Coming
Despite high interest rates, M&A professionals say several factors are leading to their predictions of stronger deal activity in the later stages of this year.
Payroll
AI is Reshaping the Hiring Process
While companies are hiring more, they’re also receiving a flood of applications, making it harder for employers to select the right candidate and for employees to stand out.
Small Business
Program to Help California Cannabis Businesses Get Licensed
Delayed spending and a lack of oversight threaten to disrupt a $100 million grant program run by the Department of Cannabis Control intended to help businesses secure state licenses, a recent report by California State Auditor found.
Taxes
Colorado Set to Join IRS Direct File Program in 2026
Coloradans will soon be able to file their federal income taxes online for free under a program created by the Inflation Reduction Act.
Accounting
Prophix Adds Account Reconciliation to Prophix One Platform
The new solution provides relief from disjointed, manual processes that leave room for error and confusion, Prophix said.
Accounting
Survey Results Are In: Charting the Future of Accounting
Explore the evolving landscape of the accounting profession with this comprehensive report from Canopy and CPA Practice Advisor.