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.

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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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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.

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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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From Start to Scale: Driving Growth Through Seamless Payments Implementation

Speaker: Michael Veatch, Senior Director, Implementations & Ella Aguirre, Director of Solution Consulting

Embedding payments can be a transformative step for software companies looking to enhance their platform capabilities, boost customer satisfaction, and drive long-term growth. However, the success of payments hinges on a single thing: implementation. Drawing on real-world insights and experiences, payments implementation experts Michael Veatch and Ella Aguirre will explore actionable strategies that can lead to a transparent, friction-free launch and mitigate potential challenges like technical

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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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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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Venture capital drought leads to cap table chaos

Accounting Today

Startups will need to clean up their recordkeeping if they want to have any hope of raising new venture capital.

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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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Tax Fraud Blotter: What nerve

Accounting Today

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

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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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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.

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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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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.

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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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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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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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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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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

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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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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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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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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O’Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

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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.

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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.