Thu.Sep 19, 2024

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Taxpayer Advocate acknowledges shortcomings

Accounting Today

National Taxpayer Advocate Erin Collins issued a mea culpa admitting to the findings of a recent report faulting the Taxpayer Advocate Service that she runs for slow responsiveness to taxpayers.

Tax 331
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Streamline Your Monthly Close Process with These Effective Strategies

Accounting Department

The month-end is coming up and that means it is time to close. A monthly close can be a laborious process that is dreaded by some accounting and finance departments, but it doesn't have to be that hard!

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IRS issues warning about Offer in Compromise 'mills'

Accounting Today

The Internal Revenue Service cautioned taxpayers to steer clear of promoters who claim their services are needed to handle unpaid debts, saying such businesses often charge excessive fees and often produce no results.

Tax 331
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Boosting the economy and kickstarting financial confidence for small businesses and accountants in the UK

Intuit

The economy of the UK depends on the financial health and well-being of the more than 5.5 million small and medium-sized businesses (SMBs) around the country. But SMBs aren’t always given a seat at the policymaking table. Small businesses and accountants drive economic growth in the UK and need champions to help them power prosperity. That’s why Intuit asked small business owners and accountants about their wishes from policymakers regarding challenges they face, resources they need, and how pol

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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 Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty.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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Tax Fraud Blotter: What nerve

Accounting Today

Journey's end; just shocking; house cleaning; and other highlights of recent tax cases.

Tax 317
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5 reasons automation is worth the investment

Plooto

Regardless of your hesitations, investing in technology can save you and your team a lot of unnecessary headaches. If you’re on the fence, read these five key reasons why payment automation is worth the investment.

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Top ProAdvisor Profiles: Kathy Grosskurth

Insightful Accountant

Kathy Grosskurth is our featured 2024 Top ProAdvisor this week. Kathy has her own Bookkeeping practice in Ormond Beach, Florida.

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Medicare basics for accountants: Key considerations for advising clients

Accounting Today

Navigating Medicare can be a complex task for retirees, and accountants play a crucial role in guiding their clients through this essential aspect of retirement planning.

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AI’s Impact on Tax Research and More w/ Piritta Van Rijn

Jetpack Workflow

Podcast Summary In this episode of Growing Your Firm, host David Cristello welcomes Piritta Van Rijn , the Global Head of Product and SVP for the accounting tax and practice division at Thomson Reuters. They delve into the exciting potential of AI and generative AI for firm owners, discussing how these technologies can free up time and enhance the expertise of existing talent.

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IRS urged to take action on new information reporting requirements

Accounting Today

The Internal Revenue Service needs to do more to get ready for new reporting requirements on the Form 1099-K and 1099-DA, according to a new report.

Tax 299
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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 Kenyth Got His CPA Credits in 3 months and 36 Days

Cloud Accounting Podcast

Blake and David meet with Kenyth Holdefer, who shares his unconventional path to becoming a CPA. Kenyth details how he obtained his bachelor's and master's degrees in just over four months through Western Governors University's competency-based education model, followed by passing all four CPA exams within six months. Kenyth highlights his transition from a successful career in mortgages to public accounting, emphasizing the potential for alternative educational paths in addressing the accountin

CPA 52
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Proposed regs issued on Alternative Refueling Property Credit

Accounting Today

The Internal Revenue Service has proposed guidance on the credit, which was modified by the Inflation Reduction Act.

Tax 182
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Best Vision Language Models for Document Data Extraction

Nanonets

Vision Language Models (VLMs) are set to become ubiquitous, sparking a surge of tools that can address day-to-day visual challenges. As we enter this "golden age" of VLMs, it becomes mission-critical for businesses to quickly evaluate the best available options. This is especially important in scenarios like data extraction, where dozens of models are launched each quarter and there are multitudes of documents types to test them on.

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Tax tipsters getting $74M shows IRS progress, lawyers say

Accounting Today

Three people shared the award after disclosing an offshore tax-evasion scheme that spanned 15 years, enabling the IRS to collect $263 million from an unidentified individual.

Tax 173
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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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10 Best Bank Statement Extraction Software in 2024

Nanonets

Need to reconcile bank statements but tired of doing it manually? Looking for a bank statement extraction software? Look no further because we have you covered. We have researched and listed the 10 best bank statement extraction software in the market for 2024. Not just that, you will find the pros, cons and the pricing details for each, detailed in the article below.

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Elevate Your SME with the Enterprise Financing Scheme (EFS) in Singapore

Counto

Elevate Your SME with the Enterprise Financing Scheme (EFS) in Singapore As a small business owner in Singapore, obtaining the right financial support can significantly impact your company’s growth journey. The Enterprise Financing Scheme (EFS) offers a robust framework for businesses seeking financial assistance. This blog explores how the EFS can transform your SME, detailing its key features and providing actionable insights to maximise the benefits of this scheme.

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Top Remote Accounting Candidates for Hire | September 19, 2024

accountingfly

Top Remote Candidates This Week Looking for remote accountants? Accountingfly can help! With our ‘ Always-On Recruiting ‘ program, you can access highly skilled and experienced remote accounting candidates with no upfront cost. These are just a few of our top remote accounting candidates this week. Sign up now to receive the full list of top accounting candidates available weekly!

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Top 10 Azure Cost Optimization Tools for 2024

Economize

Introduction Businesses turn to cloud infrastructure for its performance, scalability, and efficiency, aiming to lower their IT costs. Yet, managing cloud spend has become the primary concern for many organizations. The three leading cloud vendors—AWS, Azure, and Google Cloud—collectively grew by 24%, with Microsoft Azure expanding by 29% in 2024.

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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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Effective Government Financing Schemes for SMEs in Singapore

Counto

Effective Government Financing Schemes for SMEs in Singapore For small and medium-sized enterprises (SMEs) in Singapore, accessing the right financial support is crucial for growth and stability. Government financing schemes play a key role in helping businesses navigate financial challenges and seize opportunities. Here’s an overview of the most effective government financing schemes available for SMEs in Singapore: 1.

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Tax enforcement chiefs investigate risks in crypto casinos and trading desks

Accounting Today

Officials from the IRS's Criminal Investigation division are meeting with leaders from Australia, Canada, the Netherlands and the U.K. this week for a Cyber Challenge.

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Expanding Globally: How Singapore’s MRA Grant Can Fuel Your SME’s Growth

Counto

Expanding Globally: How Singapore’s MRA Grant Can Fuel Your SME’s Growth For Singaporean SMEs, expanding into international markets can significantly enhance growth prospects. The Market Readiness Assistance (MRA) Grant is a valuable resource designed to support businesses in their efforts to tap into new global markets. This guide provides a comprehensive understanding of the MRA Grant, including eligibility, covered activities, and the application process. 1.

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Trump pledges to restore SALT write-off at Long Island rally

Accounting Today

The former president pledged to lift a cap on the state and local tax deduction valuable to many New York homeowners that he imposed as president.

Tax 173
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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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How Purchase Orders Can Simplify Procurement for Small Businesses in Singapore

Counto

How Purchase Orders Can Simplify Procurement for Small Businesses in Singapore As a small business owner in Singapore, managing procurement efficiently can significantly impact your operational success. Streamlining your procurement processes through effective use of purchase orders (POs) can enhance your business’s cash flow management, strengthen supplier relationships, and simplify overall operations.

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How SMEs in Singapore Address the High Cost of Financing

Counto

How SMEs in Singapore Address the High Cost of Financing Navigating the high cost of financing is a major challenge for SMEs in Singapore. Business owners often face steep interest rates, strict collateral requirements, and limited funding options, which can hinder growth. This blog delves into how SMEs are addressing these challenges and tackling high financing costs through government schemes, alternative methods, and effective strategies.