If a recent survey by payables fintech provider Tipalti is any indication, finance automation is top of mind for most of your CFO peers. According to Tipalti's CFO, Sarah Spoja, when respondents were asked what they cared about most in…
Accounting
Seven months after its release, ChatGPT is being touted as a replacement for a range of occupations. Artificial Intelligence (AI) tools like ChatGPT (technically a Beta rollout) are being tested against humans in areas like accounting and early results are…
With all the work your A/P department puts into issuing timely payments, it can be frustrating to find out there's unclaimed property floating around out there. Unclaimed property laws vary widely from state to state, and can be very confusing.…
CFOs, it’s time to ensure that all your financial ducks are in a row. More IRS audits could soon be coming your way. As we mentioned earlier this year, the Service promised to boost its efforts with more auditors. Specifically,…
There’s new information available for your finance team about the forthcoming 1099 platform for preparing and filing returns. The Electronic Tax Administration Advisory Committee (ETAAC) recently released a new report on how the Service can improve its practices. And in…
Companies are getting a small break! IRS is temporarily letting businesses take a 100% deduction on food and beverages from restaurants. As you know, your company can typically take a 50% deduction on meal and beverage costs, as long as:…
A proposed rule would make things a little easier for finance teams whose duties get impacted by federally declared disasters. The new IRS rule, Mandatory 60-Day Postponement of Certain Tax-Related Deadlines by Reason of a Federally Declared Disaster, can be…
Does your company rely on digital advertising services? There's an escalating tax trend that employers should be aware of. In the last year or so, several states have proposed taxing digital advertising services in one way or another. Some wanted…
If your company makes a cash charitable contribution for disaster relief, you can take a larger deduction. But only if you act fast. Your company can deduct up to 100% of your taxable income for cash contributions for relief efforts…
Heads up! IRS recently published proposed regulations with guidance on the deduction of qualified transportation fringe expenses and commuting expenses. As you know, due to the Tax Cuts and Jobs Act, companies are no longer allowed to deduct for qualified…
Your finance team always has to keep an eye out for fraud and tax scams – especially those impersonating IRS and other trusted authorities. Fortunately, the Service recently released its annual list of “Dirty Dozen” tax scams to help educate…
While it’s not a done deal yet, you’re likely going to get an extra year to get in compliance with the new lease accounting standard -- if you’re a private company. Last month FASB unanimously voted to push back the…
