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Featured….
Lili Launches Lili Connect for Small Business Financial Management
KSM Adds Shanholt Glassman Klein Kramer in New York
LGA Merges in Abbott & Co.
Lovesac to Pay SEC $1.5 Million to Settle Claims of Hidden Expenses
Contributors….
Randy Johnston
Brian Tankersley
Darren Root, CPA, CITP, CGMA
Becky Livingston
Ken Berry, JD
Webinars and CPE….
CPE Webcast Dec. 11 – Not Just for the Rich: Using Charitable Giving Techniques to Solve Real-World Tax and Financial Planning Problems
CPE Webcast Nov. 18 – The Thriving Tax Office: Firm Modernization
Events….
Accounting
Intuit Connect 2024 – Oct. 28-30
Get inspired by influential speakers and expert-led sessions on topics such as QuickBooks tools and services, Mailchimp, firm growth, client advisory, and more.
SYNERGY 2024 Conference – Nov. 6-9, 2024
From AI-driven solutions to cutting-edge advancements in digital transformation, find out what’s next from Thomson Reuters at SYNERGY 2024
IRS Releases 401(k), IRA Contribution Limits For 2025
The 401(k) contribution limit will increase to $23,500 next year, the IRS says, but the IRA contribution limit will stay at $7,000.
Last Chance to Nominate for 2024 “40 Under 40” and “20 Under 40” Awards
The 40 Under 40 Awards spotlight the top practicing public accountants, educators and thought leaders who are leading their profession by visibly and incrementally changing the accounting profession.
Firm Management
GHJ Joins Forces With Fellow L.A. Firm GGF
GHJ, a top 100 accounting firm, has merged in GGF, a firm that offers a full suite of services, including audit, tax, and advisory.
Accounting
Lili Launches Lili Connect for Small Business Financial Management
Embedded finance will enable partner companies to grow faster and provide more tailored solutions to their small business customers.
Firm Management
KSM Adds Shanholt Glassman Klein Kramer in New York
KSM has expanded its presence in New York after acquiring SGKK, a New York City-based CPA firm with a focus on the real estate industry.
Firm Management
LGA Merges in Abbott & Co.
The top 200 firm has combined with fellow Massachusetts accounting firm Abbott & Co., led by Mellinda Abbott.
SEC
Lovesac to Pay SEC $1.5 Million to Settle Claims of Hidden Expenses
The furniture retailer settled an SEC lawsuit last week alleging that two former executives committed accounting fraud.
Taxes
Thomson Reuters Launches CoCounsel Integration in ONESOURCE Corporate Tax Solutions
As multinational corporations face evolving regulatory challenges and talent shortages, ONESOURCE with CoCounsel augments professionals’ work.
Accounting
New Jersey Society of CPAs Opens Scholarship Applications for Accounting Students
Scholarships are awarded based on academic performance, standardized test scores, a 500-word essay and personal interviews.
Accounting
CPE Webcast Dec. 11 – Not Just for the Rich: Using Charitable Giving Techniques to Solve Real-World Tax and Financial Planning Problems
Are your clients looking for ways to reduce their tax liability? Charitable giving offers unique opportunities to benefit from tax advantages, support a favorite charity, and generate lifetime income.
Accounting
Emerging Trends in Accounting Education
The IssuesWatch Podcast is a weekly program published by the New Jersey Society of CPAs that covers the latest business and economic issues impacting New Jersey CPAs and the business community.
Technology
ITA Announces New Board of Directors
The ITA Board works collaboratively with ITA’s President, Geni Whitehouse, and Lissa Johnsen, ITA Vice President.
Firm Management
KPMG to Cut Audit Staff By About 4%
The Big Four firm has let 330 people, or nearly 4% of its roughly 9,000-person audit workforce, know they will be losing their jobs.
Software
Checklist: Ensure your firm’s success this upcoming tax season
Right now is the best time to prepare for tax season. In this guide, you will discover the nine things you can do today to improve your next tax season.
Firm Management
CBIZ Completes Marcum Acquisition
The 2.3-billion-dollar megadeal between the two top 15 accounting firms, which was announced in July, became official on Nov. 1.
Taxes
Bloomberg Tax Partners with Specialized Tax and Expense Solutions
Bloomberg Tax’s new partner program includes K1x for investment data, Incentify for tax credits and incentives, and Antium, which optimizes expense management.
Small Business
Third-Party Cyber Risk Management Shows Progress
The fifth annual global survey into supply chain cyber risk management highlights ongoing investment in technology and talent to enhance supply chain security.
Firm Management
Employee Burnout Continues to Rise, According to Grant Thornton Survey
Fifty-one percent of survey respondents have suffered burnout in the past year, a 15 percentage-point increase from last year’s survey.
Accounting
FASB Adds Standard on Income Statement Expenses
The FASB listened to investor requests by requiring public companies to disclose more information about certain expenses.
Firm Management
Blue & Co. Merges in Mellen, Smith, and Pivoz
The combination, effective Nov. 1, enables the Carmel, IN-based top 60 accounting firm to expand into the Detroit market.
Advisory
Sikich Expands AI Consulting Offerings
The top 30 firm launched the Sikich AI Solutions Studio and appointed longtime firm veteran Ray Beste as principal AI strategist.
Taxes
Taxes, Tariffs and More: 5 Key Economic Stakes of the U.S. Election
Tuesday’s election will have far-reaching economic consequences, ranging from how Americans are taxed to global trade and energy.
Taxes
Here’s Why Maryland Paid the IRS $5.4 Million in Taxes
Maryland has paid $5.4 million to the IRS after a rare audit of the state found it owed millions of dollars in taxes in 2020.
Taxes
Bruins’ Struggles Due to Massachusetts State Taxes, Business Coalition Argues
A trend is forming in the Boston sports scene: if a team struggles, state taxes are blamed for the poor performance.
Payroll
U.S. Payrolls Rise By Just 12,000 Amid Storms and Strikes
Nonfarm payrolls increased 12,000 in October, and hiring over the previous two months was weaker than previously thought.
Accounting
Wolters Kluwer Adds AI and Other New Features Across CCH Axcess Solution
The company has also expanded vendor participation in the CCH Marketplace, further committing to open integration in support of growth.
Accounting
Forensic Accountants to Meet During Period of Increased Demand for Their Services
Forensic and valuation services (FVS) professionals will meet this year in Dallas from October 28-30 at the annual AICPA & CIMA Forensic & Valuation Services Conference.
Benefits
Finance & Insurance Tops All Industries in Employee Benefits
The Finance & Insurance industry has the best benefits, as the industry earned the highest overall score of 92.33 out of a possible 100.
Accounting
Forvis Mazars Launches ProBank Advisor
ProBank Advisor offers assistance by connecting institutions with a robust team of compliance professionals, including former examiners, attorneys, and banking practitioners with more than 150 years of combined experience.
Accounting
Withum Announces Cloud-Based Digital Audit Platform
By integrating this platform with the firm’s other cloud-based solutions, Withum has created automated workflows that foster consistency, collaboration and scalability.
Taxes
IRS Releases 401(k), IRA Contribution Limits For 2025
The 401(k) contribution limit will increase to $23,500 next year, the IRS says, but the IRA contribution limit will stay at $7,000.
Accounting
CPE Webcast Nov. 18 – The Thriving Tax Office: Firm Modernization
Delve into practical strategies to grow your tax firm in today’s market. We’ll cover pricing strategies, firm modernization, and technology adoption to boost efficiency and client satisfaction. Join us as we chart a course toward growth for your business.
Taxes
SafeSend Launches New Client Portals
With straightforward workflows, SafeSend’s portal offers an efficient, organized experience that eliminates the need to juggle multiple systems.
Benefits
U.S. Workers Want More Support on Financial Well-Being
The survey found U.S. employers are prioritizing support for mental (73%) and physical (50%) well-being.