Thu.Apr 20, 2023

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Revenue-Based Financing for Startups

BurklandAssociates

Revenue-based financing can provide the working capital your startup needs between equity rounds without exchanging an ownership stake or giving up control. The post Revenue-Based Financing for Startups appeared first on Burkland.

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Why are there so many due dates for sales tax?

TaxConnex

If you refer to “filing taxes” most people think of income tax with its annual filing requirement. State sales tax is another beast altogether, with a dizzying number of deadlines – and, potentially, serious consequences for missing one. Intensifying problem? Our  third annual survey  of financial professionals across various industries showed that many face sales tax challenges related to these filing deadlines.

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Is Our Health FSA Subject to COBRA?

ThomsonReuters

QUESTION: Next year, we plan to amend our company’s cafeteria plan to add a health FSA under which participants elect a coverage amount for the year and pay for it with pre-tax salary reductions. There will be no employer contributions, so participants’ health FSA salary reductions will equal the elected annual coverage amount. The health FSA will be offered to all employees who are eligible for coverage under our major medical, dental, and vision plans.

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The Ultimate Guide to Going Paperless in Your Accounting Firm | Canopy

Canopy Accounting

Whether it’s to save money, increase productivity, or help the environment, many business owners are taking a serious look at going paperless. Going paperless is not that difficult to do and in the long run, it’s certainly better for your accounting firm’s bottom line. If you are interested in transforming your firm into a paperless office, there’s no better time to start.

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Elevating Accounting Practices: The Power of Outsourcing and Automation in the Digital Age

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

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Agency FAQs (Part 59) Address ACA Preventive Health Services Mandate After Braidwood

ThomsonReuters

FAQs About Affordable Care Act and Coronavirus Aid, Relief, and Economic Security Act Implementation Part 59 (Apr. 13, 2023) Available at [link] The DOL, HHS, and IRS have jointly issued FAQs (Part 59) addressing the impact of the recent court decision in Braidwood Management Inc. v. Becerra on the requirement to cover certain preventive health services without cost-sharing.

Legal 98
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Streamline Your Financial Management with Xero: Top 7 Integrations for Enhanced Efficiency

Basis 365

As a business owner, managing your finances effectively is crucial for the success of your business. With the right accounting software, you can streamline your financial management and make informed decisions about your business's financial health. Xero is a popular accounting software that offers a wide range of features to help companies to manage their finances efficiently.

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Here’s What Your Firm Needs to Know About the ‘Reverse Reference’ 

CPA Practice

By Nick Hobson, Inc. (TNS) Asking for a “reverse reference”—where a job candidate asks to speak with current employees of the company they are interviewing with—has become more common in recent years. Job seekers are emboldened (rightly so) to gather as much information as possible about potential employers. By asking to speak with current employees, the candidate is seeking insight into the firm’s culture, work environment, and potential growth opportunities.

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Rumor Has It Something’s Going Down at Marcum

Going Concern

In November Financial Times wrote a quick little story about accounting firms eyeing private equity deals , a topic that first gained visibility when TowerBrook Capital Partners purchased an ownership stake in EisnerAmper way back in 2021. The FT story listed BDO, Grant Thornton, and Marcum as firms that have explored these deals, though none of them actually pulled the trigger (as far as we know).

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Six reasons to come and visit us at Accountex 2023

Xero

It’s nearly time for Accountex 2023, and we’re excited to see many of you across the two days. This is our tenth year exhibiting at Accountex, and the buzz of the event and opportunity to connect in person never gets old. It’s been a tough year for many of you across the accounting and bookkeeping industry – supporting clients through turbulent economic times, whilst facing your own challenges.

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Fixing QuickBooks Desktop Product License Errors

Insightful Accountant

When you can't install or register your product because your license or product numbers don't match your subscription or activation code.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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What Manufacturers Need To Know About Research & Development (R&D) Tax Credits

Withum

The R&D tax credit is a tax incentive encouraging companies to invest in research and development activities in the United States. The credit is available to businesses that engage in qualifying R&D activities, such as developing new products, processes or software, and improving existing products or processes. For manufacturers in the United States, there have been several recent changes to the R&D tax credit: Permanent extension of the credit : The R&D tax credit has been perm

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Layoff Watch ’23: Deloitte Makes Some Cuts in Risk & Financial Advisory

Going Concern

Apparently a 3% reduction was announced in an RFA (Risk & Financial Advisory) all-hands call today (April 20). Saw only one mention of it on thelayoff and many, many on Reddit. Like this one on the Deloitte sub: According RFA All Hands: 3% of RFA will be laid off, most of which will be in Commercial, between now and June by u/MaizeNBlueWaffle in deloitte Comment by u/LoyalWingman from discussion Layoffs update in deloitte In a panic, someone else asked if cuts are expected elsewhere and a to

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New Brazilian Transfer Pricing Rules Align With Rest of World

Withum

It’s been a very eventful start to the year for Brazil: a new president, a new cabinet, and a whole new set of transfer pricing rules. Brazilians are in for a wild roller coaster ride. On December 28, 2022, in his final days in office, former Brazilian President Jair Bolsonaro signed Provisional Measure (“PM”) No. 1,152/2022, introducing new Transfer Pricing rules in Brazil in alignment with the OECD Guidelines and Transfer Pricing Framework (“OECD TPG”).

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How to Find the Perfect Bookkeeping Service for Your Amazon E-commerce Business

AccountingDepartment

In the fast-paced world of e-commerce, effective financial management is key to achieving long-term success for your Amazon business. Bookkeeping services play an essential role in handling your financial transactions, ensuring accuracy, and assisting you in making informed decisions. This article delves into the process of finding the perfect bookkeeping service for your Amazon e-commerce business and the factors to consider when making your selection.

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Planning Your Restaurant's Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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Lockstep Accelerates Payments through Free, Self-Service Portal

Insightful Accountant

Companies now can accept payments via Stripe and PayPal through a secure self-service link.

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Ramping up efficiency to deal with inflation

Reckon

In no small part due to the pressures of inflation, we all know that the cost of living has blown through the ceiling over the last year or so… The RBA’s series of rate raises seek to combat inflationary stress; however, many argue that rising rates will actually compound pressure on individuals and businesses by deepening loan and mortgage stress. While we await the effects of these rate rises to temper inflation, to keep afloat in the meantime, small business owners may have to think outside t

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How to gain confidence as a new bookkeeper

5 Minute Bookkeeping

Does this sound familiar? You’re starting a bookkeeping business or recently got started as a bookkeeper and you’re struggling with self-doubt and lack of confidence. If so, you’re not alone. It’s normal to have fears about the future. I can empathize because I have been there, frozen with fear and scared out of my mind when I first started my virtual bookkeeping business.

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5 Things to Make Meetings Less Boring and More Effective

CPA Practice

By Robin Camarote, Inc. (TNS) Despite our best intentions to prepare , most of us start thinking about the next meeting when the reminder goes off or right as we’re joining, either virtually or in person. Most executives are booked back-to-back, leaving little time to think and set their intentions for what they want out of the next conversation.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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Potential for Increased Participant Litigation Looms After Appellate Court Decision on Excess Recordkeeping and Investment Fee Claims

ThomsonReuters

Hughes v. Northwestern University, 63 F.4th 615, 2023 WL 2607921 (7th Cir. 2023) Available at [link] On remand from the U.S. Supreme Court (see our Checkpoint article ), the Seventh Circuit Court of Appeals reexamined defined contribution plan participants’ allegations that the plan’s fiduciaries had breached ERISA’s duty of prudence by (1) failing to monitor and incurring excessive recordkeeping fees (in part due to revenue sharing arrangements), (2) failing to exchange retail shares for cheap

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There is a Wide Gap Between Employee Burnout and Firm Awareness, Survey Finds

CPA Practice

By Matthew Owenby, Quartz (TNS) How often have you been “exhausted by excessive demands on energy, strength, or resources in the workplace” over the past year? Month? Week? That’s precisely how psychologist Herbert Freudenberger, credited with coining the term “burnout” in 1974, described how he felt during a stressful time in his own job. Nearly 50 years ago, Freudenberger laid the groundwork for heightened attention to mental health and well-being in the workplace.

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Credit Awards 2023 Finalists

Menzies

Menzies LLP - A leading chartered accountancy firm. Menzies Business Recovery is thrilled to be named as finalists in the following two categories at the Credit Awards 2023 : Corporate Restructuring & Insolvency team of the year Special recognition for Diversity & Inclusion Commenting on our shortlisting for Corporate Restructuring & Insolvency team of the year, Bethan Evans , Partner, said: “We are honoured and delighted to be shortlisted for ‘Corporate Restructuring & Insolvenc

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The Technology Lab Podcast – Review of Microsoft Power Query – April 2023

CPA Practice

Technologists Randy Johnston and Brian Tankersley, CPA, CITP, CGMA review Microsoft Power Query , Microsoft’s Data Connectivity and Data Preparation technology. Click here to go to the podcast page.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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But Who’s Counting? Season 2 Episode 4: How to Lead with Passion, Purpose and Urgency with Jeffrey Promnitz of Zeffert & Associates

Anders CPA

Leading an organization is filled with challenges, particularly over the course of a merger or acquisition. Business leaders must balance the creation of new processes and the introduction of new policies with maintaining the same qualities that drew them to acquire that business in the first place. But Who’s Counting? host David E. Hartley sat down with Jeffrey Promnitz of Zeffert & Associates to discuss practicing effective leadership, the “secret sauce” to constructive goal setting and ho

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Lockstep Accelerates Payments Via Free, Self-Service Portal

Insightful Accountant

Companies now can accept payments via Stripe and PayPal through a secure self-service link.

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Your Firm and Your AI (Artificial Intelligence)

CPA Practice

It must feel good to have another tax season in the record books. While you worked heads-down, the Artificial Intelligence (AI) world advanced rapidly. Generative AI tools expanded notably, and various competitors released their offerings. My colleague Brian Tankersley and I have recorded five podcasts on the topics of AI with ChatGPT4, Microsoft AI, DALL-E & AI Competitors, AI Truthiness & Hallucinations, and Large Language Model (LLM) considerations.

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How corporations can save on the growing costs and complexity of compliance

ThomsonReuters

As governments around the world require digitalized methods for E-invoicing and real-time monitoring and reporting of business transactions, global multinational corporations (MNCs) need technologies that can help them manage data-intensive processes that demand speed, accuracy, and transparency all at once. In particular, compliance mandates for E-invoicing /continuous transaction controls (CTC) and real-time reporting present numerous challenges for MNCs that operate in multiple countries.

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Join the Instant Payment Revolution: Read 7 Must-Know Facts for Small Businesses

Technology evolves at lightning speed, and as finance keeps changing, instant payments emerge as a game-changer for small businesses. By 2030, instant payments are projected to surge by 289% and will become the new norm in financial transactions. Our whitepaper reveals seven must-know facts about instant payments, offering to help you navigate this financial revolution effectively.

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MTB Management Seamlessly Scales 50% with MineralTree

MineralTree

MTB Management is a fast-growing Taco Bell franchisee based in western Montana. Since becoming a MineralTree customer back in 2020, MTB has grown from eight to 12 locations and deployed MineralTree’s TotalAP platform across all of its 12 Taco Bell quick-service restaurants (QSRs). As a result, the team boasts increased operating efficiencies and stronger vendor relationships.

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CMS Announces 2024 Medicare Part D Benefit Parameters Used for Creditable Coverage Disclosures

ThomsonReuters

Announcement of Calendar Year (CY) 2024 Medicare Advantage (MA) Capitation Rates and Part C and Part D Payment Policies (Mar. 31, 2023); Fact Sheet: 2024 Medicare Advantage and Part D Rate Announcement (Mar. 31, 2023) Announcement Fact Sheet Under Medicare Part D regulations, most group health plan sponsors offering prescription drug coverage to Part D eligible individuals (including active or disabled employees, retirees, COBRA participants, and beneficiaries) must disclose to those individuals

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Four Kinds of Change-Making Energy

RitaKeller

“The measure of intelligence is the ability to change.” -Albert Einstein. Many years ago, I met Rebecca Ryan and got to know her. Lucky me! She is described as a human sparkplug, and she is. I still keep in touch with her and read her newsletter. She is doing meaningful work. Rebecca allowed me to share this message from her recent newsletter.

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Top 100 Firms EisnerAmper and Postlethwaite & Netterville Combine

CPA Practice

New York-based top 20 accounting firm EisnerAmper said on Thursday it has added Baton Rouge, LA-based top 100 firm Postlethwaite & Netterville in a transaction that is expected to close this summer. Founded in 1949, P&N has more than 575 team members across the U.S. and nine offices in Louisiana, Texas, and Mississippi. The firms said their core values, quality client service, and integrity made them a good pairing.

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How CPA Firms Can Profit From Payroll Services Without the Extra Work

"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.