Mon.Apr 15, 2024

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IRS wraps up tax season

Accounting Today

The Internal Revenue Service reported stronger performance on Monday, April 15, as it concluded this year's tax filing season, saying it had answered 1 million more phone calls from taxpayers and helped 170,000 people in person compared to last year.

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Google Increases Speed, Granularity of Cost Data and Curates Approach to Anomaly Management

FinOps Foundation

Key Insight: Fast cost data can mean more frequent Data Ingestion , which leads to faster decision-making ability in a FinOps practice. Helpful Anomaly Management means less noise and more news; Some vendors take a curated approach and surface fewer anomalies, while others deliver more alerts and allow you to dial down as needed. At Google Next ‘24, Google Cloud announced several new FinOps features.

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IRS offers tax relief to corporations

Accounting Today

The Internal Revenue Service is waiving penalties to companies that fail to pay their estimated taxes for the first quarter for the corporate alternative minimum tax.

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Insightful Accountant Announces Dates for Awards

Insightful Accountant

In an attempt to give our readers some degree of advance notice, Insightful Accountant is announcing the specific dates for which the 2024 ProAdvisor Awards will be announced.

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Forecasting Failures Are Costly: Here's How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

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Accountants' top concerns this election year

Accounting Today

The economy, the national debt and tax reform are accountants' top concerns this election season, according to a new Arizent survey.

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The Fate of a Finished Filing Season Still in Limbo

Insightful Accountant

The 2024 tax season is ending with fewer hiccups and changes compared to previous years. Pending legislation and court decisions may bring uncertainty for preparers in the future.

Tax 105

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CPF Guide for Employers in Singapore

Counto

CPF Guide for Employers in Singapore At Counto, we understand that as a small business owner or entrepreneur in Singapore, navigating the complexities of the Central Provident Fund (CPF) contributions for your employees can be a daunting task. It’s crucial to get it right, not only to comply with the law but to ensure the financial well-being of your employees.

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IESBA sets ethics standards for corporate tax planning

Accounting Today

The International Ethics Standards Board for Accountants has unveiled a set of ethical standards for business tax planning in response to complaints over tax avoidance by multinational companies.

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8 Tips for Setting Up Your Business as an LLC 

Nolan Accounting Center

Starting and running a small business can indeed be hard. However, it is encouraging to recognize that every big business started as a small enterprise. A critical step is setting up your business using the right legal structure. Why it is Critical to Choose the Right Business Structure When setting up your business it is critical to choose the right business structure because that influences many things including your day-to-day business operations, how much you pay in taxes, your ability t

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Art of Accounting: How do you feel tax season went?

Accounting Today

if you do not feel good about tax season, ask yourself what upsets you.

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

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How to Remote Access TaxAct Software?

Ace Cloud Hosting

In today’s world, every organization plans to increase work flexibility by integrating a “work from home” or hybrid model in their business process. According to Forbes, in 2023, around 12.7%.

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How a life insurance strategy could save some wealthy estates millions

Accounting Today

Some financial advisors and tax professionals with high net worth clients could find big advantages before the expiration of provisions of the Tax Cuts and Jobs Act.

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Microsoft Entra Domain Services Pricing Guide

Economize

Microsoft Entra is a comprehensive identity and access management solution designed to address the complexities of securing enterprise environments in the cloud era. With its framework, Entra enables businesses to efficiently manage who has access to their systems and data across various platforms, ensuring secure and streamlined operations.

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Wall Street sees fewer T-bills sold, thanks to tax season

Accounting Today

The annual rush to pay Uncle Sam means the Treasury doesn't need to issue as much short-term debt as in other months to fund the U.S. government.

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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.

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Accounts Payable: How Will Your Role Change?

oAppsNet

In the dynamic landscape of corporate finance, the role of accounts payable (AP) professionals are evolving rapidly. As we enter 2024, technological advancements, changing business practices, and shifting market dynamics reshape the responsibilities and expectations placed on AP professionals. In this comprehensive article, we’ll explore nine critical ways in which the role of AP professionals is expected to change in 2024 and the implications for individuals and organizations alike. 1.

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Choosing the Best Business Structure for Freelancers and Self-Employed Professionals in Singapore

Counto

Choosing the Best Business Structure for Freelancers and Self-Employed Professionals in Singapore At Counto, we know that setting up your business correctly is crucial, especially for freelancers and self-employed professionals looking to establish themselves in Singapore. The business structure you choose has significant implications for your liability, tax obligations, and ability to attract investment.

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Adopting financial automation for easier tax seasons

Plooto

Tax season can be extremely intimidating for small business owners. The weighty task of sorting through a year's worth of financial transactions, ensuring accuracy, and meeting deadlines — all while continuing to day-to-day operations — can be stressful enough.

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What is a Bank Reconciliation Statement & How to do it?

Nanonets

What is a Bank Reconciliation Statement Bank reconciliation is the process that ensures that a company's recorded cash balances align with the funds in their bank accounts. A Bank Reconciliation Statement is a financial document that ensures that the cash balances recorded in the internal financial records align with the financial records presented in the bank statement.

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How To Break Digital Transformation Barriers And Accelerate AI Adoption

Speaker: Anna Tiomina, MBA

AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?

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Delivering Nuclear Value in Accounting

Cloud Accounting Podcast

Joe Woodard joins Blake and David to examine how accountants and bookkeepers can increase the value of their services in the eyes of their clients. Joe introduces the Cobb value curve, illustrating how differentiation and relative value impact pricing. He emphasizes the importance of offering unique, high-value services like controllership and financial planning to stand out from commoditized offerings and command premium prices.

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Cash return on assets definition

Accounting Tools

What is the Cash Return on Assets? Cash return on assets measures the proportional net amount of cash spun off as the result of owning a group of assets. The measure is commonly used by analysts to compare the performance of businesses within the same industry, since it is very difficult for someone to obfuscate the cash flow figure. Thus, the ratio is quite a reliable and comparable measure of asset performance across an industry.

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Apr 15, Canadian Bookkeeping Compliance Resource

Bookkeeping Essentials

A new Canadian bookkeeping compliance resource. Bookkeeping-Essentials.ca extends an invitation to small business owners in Canada to explore this new resource.

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Hedge accounting definition

Accounting Tools

What is Hedge Accounting? Hedge accounting involves offsetting changes in the fair value of a financial instrument with changes in the fair value of a paired hedge. Hedges are used to reduce the risk of losses by taking on an offsetting position in relation to a financial instrument. The result tends to be relatively modest ongoing changes in the reported fair value of financial instruments.

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Demo SkyStem’s Award Winning Month-End Close Solution & Earn $100

Is your finance team bogged down by endless data requests and disorganized spreadsheets during the month-end close? It’s time to consider a better option – automate with ART! SkyStem’s solution works alongside your ERP to transform the close and account reconciliation process and speed up month-end work. Explore SkyStem’s ART - the award-winning account reconciliation automation platform - and receive a $100 Amazon gift card as a thank you for your time.

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Apr 15, Record Retention Guidelines -US vs Canada

Bookkeeping Essentials

Record retention requirements are determined by government for tax purposes. Get up to speed with the guidelines so you can be compliant.

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Accountants and the 2024 election

Accounting Today

Overall, the accounting profession generally leans Republican in its political preferences, but it's much more neck and neck in the presidential race.