Carmen Rene, CPA

Are you keeping up with the legislative and judicial updates that may affect your business? 👀 CEOs, CFOs, financial executives and advisors — CBIZ Accounting & Tax's Eye on Washington Quarterly Update is specially designed to give you insights to help prepare you for tax developments that matter to your business. CPE: This webinar is eligible for 1.2 CPE credits in Tax. #TaxUpdates #LegislationUpdates #FreeWebinar #CPEcredits

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If you are getting married this year, there is a long list of things you need to be aware of and plan for before tying the knot that can have a significant impact on your taxes.

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Best advice in the article: Have Partners do a portion of the staff level work like observing inventories, grilling the accounting managers on expenses or even checking bank reconciliations. Why? Because someone at that level not only has more experience, they have a much different perspective on these things than a green 22-year-old. Imagine that! The ‘big picture’ of what that author says is still the same. Auditing firms are disincentivized from truly challenging company management or conducting sufficiently rigorous audits that could jeopardize the revenue stream from that client. Therefore, you will always have issues with auditor’s reports. #cpa #publicaccounting #accountingandaccountants #cfo

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Over the years I have heard a lot of complaints about poorly performing accounting departments. This article contains my assessment of an accounting department for a multi-location $250 million per year retailer. Reviewing it might help you assess the quality of your accounting department. #performance #accounting #accountingdepartment #evaluatingperformance https://lnkd.in/gj-w7wXf

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As a sole proprietor, understanding and leveraging the myriad of tax deductions and credits available to you is crucial for minimizing your tax liability and maximizing your business's profitability. The tax landscape is ever evolving, and staying informed about the latest changes and opportunities can significantly impact your financial success.

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If you’re a finance or accounting professional generating less than 6 figures per year: I’m now sharing the blueprint I’ve used to expand my fractional CFO practice to 200K a year in my 5 Day Noble CFO Challenge. That includes The Noble CFO System, a program that shows you how to: → Explore what drives you to become a consulting CFO. → Dive deep into choosing the right industries and company sizes. → Identify and target profitable niches for focused success. → Learn to pinpoint what your clients truly need. → Implement pricing strategies that reflect your worth. This same program has helped me generate $1.45M in gross earnings since leaving the W2 world. All for $0. 4 days left to sign up. Interested in joining? Visit challenge.thenoblecfo.com to secure your place in "The Noble CFO Challenge."

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Just finished the course “Accounting Ethics: Managing Mis- and Disinformation through Professional Skepticism” by ProDio Audio Learning Inc., Brian Friedrich, and Laura Friedrich! Check it out: https://lnkd.in/g_NaWTxg #accounting #businessethics.

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For those tax practitioners who are CPAs there has always been an unfair playing field on CPAs advertising, versus tax professionals in general. Tax professionals are unrestricted, able to make claims, as we can get you the highest refunds, at a minimum. But CPAs cannot make such claims. It appears that the AICPA and NATP have woken up and hopefully will address the disparity. Since I am not a tax practitioner, I hope all the CPAs who practice taxes can hold the AICPA and NATPs feet to the fire to help level the playing field. At C-Suite Support we can help you prepare tax packages and coordinate with your tax preparer to help them. We can also go through a checklist of items, based on your business, to make sure you are taking advantage of all the deductions available. Paul Whitley Taber Wetz Chris Gauvin Jayson Potts, MBA C-Suite Support

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Check out the fraud series. simple learning.

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This article from Accounting Today is a premium article so you will need a subscription to read but the long and short of the article is PE buyouts of CPA firms. While Barry Melancon indicates that only 5% of the AICPA firm membership (44k total firms) will potentially be impacted, those 5% represent a far larger percent of organizations under audit. I don't have a clue where all this is going - but I do see one pattern....potentially too many CPAs in practice are only after the almighty buck....and my question would be - is that where we want the CPA profession to go? https://lnkd.in/gk4giUkC

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The ongoing shortage of accountants means finance leaders need to make some tough decisions about the future. With fewer people entering the field and many experienced pros retiring, it's clear we need to adapt. Embracing technology like AI and automation, investing in upskilling our teams, and rethinking staffing models are key steps. These changes can turn current challenges into opportunities, helping our organizations thrive in a data-driven world. Now's the time to act and lead the way in shaping the future of our profession. #FinanceLeadership #AccountingShortage #DigitalTransformation

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📢 Attention Washington State Taxpayers! If your business generated apportionable income in 2023, don’t forget that the deadline to file your Annual Reconciliation of Apportionable Income is fast approaching—October 31, 2024! 📅 Understanding the nuances of the Washington State Business and Occupation (B&O) tax is crucial for compliance and can save you from hefty penalties. The B&O tax varies depending on your classification, whether it's for retailing, wholesaling or services. 👉 Check out our article to learn more: https://ow.ly/FrHc30sGwEz #Seattle #WA #TaxCompliance

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💭 Have you thought about the potential impact of Proposition M on your business operations in San Francisco? Key details you should know: ✔️ New Apportionment Method: A shift from payroll-based to sales-based apportionment. ✔️ Fewer Classifications: Consolidation from 14 to 7 business tax classifications. ✔️ Adjusted Tax Rates: Gross Receipts Tax rates now range between 0.1% and 3.716%, with an increase in rates for most companies, particularly those under Category 5. ✔️ Small Business Exemption: Threshold increased to $5 million, exempting more small businesses from the Gross Receipts Tax and providing opportunities for refunds. ✔️ Homelessness Tax Changes: Lower threshold from $50 million to $25 million. ✔️ Impactful Opportunities: New sourcing opportunities for tax reduction as payroll apportionment is reduced. Take the time now to review and update your San Francisco sales tracking and classifications to ensure compliance and reduce updated tax obligations. Armanino’s State and Local Tax (SALT) experts are here to guide you in assessing how these significant changes can create both opportunities and challenges for your business strategy. 💡Learn more about Proposition M: https://ow.ly/tkt250Uf31H #SanFrancisco #CA #Armanino

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Reduce the burden on your resources with insights into how to implement a strategic SOX 404 compliance approach. Read on to learn more about various SOX compliance strategies. Improve SOX 404 Compliance Strategies (mossadams.com)

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Top 10 Topics: 1. Asset Impairment 2. Cash Flow Statement 3. Financial Instruments 4. Revenue 5. Financial Statement Presentation 6. Strategic Report & Companies Act 2006 7. Significant Judgements and Estimates 8. Income Taxes 9. Fair Value Measurement 10. TCFD and Climate-related Narrative Reporting

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