Wed.Nov 22, 2023

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New Markets Tax Credit Case Study for 4Roots Farm Campus

Cherry Bekaert

Building and Enhancing Orlando’s Food System Project The 4Roots Foundation (4Roots) is in the process of building a new 40-acre 4Roots Farm Campus in Orlando, Florida. With their new facility, 4Roots is hoping to encourage collaborations between farmers, teachers, food retailers, restaurant owners and the public. Founded by restaurant entrepreneur and philanthropist John Rivers, 4Roots is an alliance of community shareholders who are passionate about addressing the challenges within the existing

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The 20 worst states to be a property owner

Accounting Today

The five states with the highest real-estate taxes have an average rate of 2.17%.

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Unlocking New Possibilities with QuickBooks Time: Enhanced Time Tracking Capabilities!

Insightful Accountant

Previously a standalone app, QuickBooks Time has undergone significant enhancements, merging seamlessly into QuickBooks Workforce and integrating time data into QuickBooks Online as part of the payroll functionality.

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3 Complex Tax Issues Facing Small Businesses

CPA Practice

KBKG , a provider of tax services for CPAs and businesses, has identified three changes that the IRS has implemented; each one could have strong impacts on businesses. Employee Retention Credit (ERC) The IRS recently suspended accepting new ERC claims through at least December 31, 2023, because of the increasing number of fraudulent claims and malpractice of the ERC program.

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Building a Business Case for Finance Automation

Speaker: Danny Gassaway and Wayne Richards

Finance leaders are prioritizing efficiency and digital transformation, yet many hesitate to automate due to uncertainty. Without a clear understanding of its impact, organizations risk falling behind competitors who are leveraging automation to drive productivity and cost savings. Join Wayne Richards and Danny Gassaway from AvidXchange for a practical guide on bringing accounts payable (AP) automation to your organization.

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Autumn Statement 2023 - Hunt’s 110 measures for growth

Inform Accounting

Today, the Chancellor of the Exchequer, Jeremy Hunt, announced his measures (a whopping 110 of them) for improving the UK economy, and the lives of UK residents.

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Have a Great Thanksgiving!

Insightful Accountant

All of us here at Insightful Accountant want to wish you a wonderful Thanksgiving.

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Cashflow Strategies for the Sports & Entertainment Industry

KROST

This is one of the articles in the KROST Industry Sports & Entertainment Issue, titled “Understanding the Complexities of Tax for Professional Athletes” by Alan Lo. CPA, MAcc & Randall Poe. Passthrough Entity Tax Credit The Passthrough Entity Tax Credit, commonly referred to as the State and Local Tax (SALT) cap workaround, was introduced to Read the full article.

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Boomer's Blueprint: Why students should consider accounting

Accounting Today

Perhaps it's time to take a moment to think about how to reframe the discussion of the pipeline problem.

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How ESG Integration Can Save Customers Big Money

Withum

What do you think of when you think of SolarWinds and Cozy Bears? If you thought renewable energy and teddy bears, you are wrong. SolarWinds develops software for businesses to help manage their networks, systems, and IT infrastructure. And in 2020, it was discovered that they were hacked in 2019 by Cozy Bear, a/k/a Russian Foreign Intelligence Service.

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2024 IRS Tax Refund Calendar – Estimate When You Will Get Your Tax Refund

CPA Practice

December is here, which means the 2024 tax filing season is coming soon. The IRS usually starts accepting e-filed income tax returns in the last week of January each year, with the deadline being April 15 (which can vary based on weekends or state holidays). If you’re wondering how long it may take to get your refund when you do file, you’re not the only one looking for the answer.

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Fall In Love With the Month-End Close

It's the time of year to give our close process some TLC. Join us in this one hour webinar where we discuss how to adopt leading practices and infuse technology into the month-end close process to improve our experience and increase our productivity during month-end and quarter-end close. Learning Objectives: This course's objective is to understand how the month-end close can be improved with automation and adoption of leading practices.

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Turning Struggling Companies Into Financial Successes

GrowthForceBlog

7 min read According to the U.S. Bureau of Labor Statistics, most businesses are destined to fail. Data shows that 20% of new businesses fail within the first two years of operation, 45% in the first five years, and 65% during the first decade of operating. Just one-quarter of businesses survive to 15 years or beyond. When so many businesses cannot survive, any person who can successfully lead a business or, even more impressive, take a struggling business and turn it into success is a veritable

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Embracing AI to improve efficiency and professional growth

Accounting Today

Baker Tilly is using artificial intelligence to enhance efficiency, making it an invaluable tool to empower its professionals and accelerate their work.

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Practicing Thankfulness in Your Skagit County Business

SkagitCountyTaxServices

Does your Skagit County family sit around the table at Thanksgiving dinner and share something they’re thankful for? I’ve been at those holiday meals many a time. I appreciate the intent, and will admit it’s usually effective in getting me to feel more grateful, but I do wish those hosts would generally restrict the “I’m thankful for” conversations for the end of the meal.

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Vendor Spotlight: Rightworks

Accounting Today

In this Vendor Spotlight, we catch up with Rightworks CEO Joel Hughes.

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Navigating Payroll Compliance: Future-Proofing Payroll in an Evolving Regulatory Landscape

Speaker: Jennifer Hill

Payroll compliance is a cornerstone of business success, yet for small and midsize businesses, it’s becoming increasingly challenging to navigate the ever-evolving landscape of federal, state, and local regulations. Mistakes can lead to costly penalties and operational disruptions, making it essential to adopt advanced solutions that ensure accuracy and efficiency.

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Accountant Pleads Guilty to Stealing More Than $715,000 From Dermatology Clinic

CPA Practice

By Emma Epperly, The Spokesman-Review, Spokane, Wash. (TNS) A 26-year-old woman pleaded guilty in federal court Tuesday to stealing more than $715,000 from Spokane Dermatology Clinic, where she was an accountant. Carol Casilla faces up to 20 years in prison for the one count of wire fraud. Casilla worked at the medical practice from 2020 to 2023. During that time, she fraudulently issued company checks to herself and a company she set up for that purpose.

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Happy Thanksgiving from KROST

KROST

Happy Thanksgiving to our amazing clients like you. We’re grateful for the chance to be a part of your journey and help you achieve your goals. May your Thanksgiving be filled with joy, laughter, and delicious food shared with loved ones. We gave thanks this year by donating to the following organizations. If you would Read the full article. The post Happy Thanksgiving from KROST appeared first on KROST.

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Ex-Kentucky CPA Accused of Failing to Report More Than $300,000 on Federal Taxes

CPA Practice

By Bill Estep, Lexington Herald-Leader (TNS) A former Kentucky accountant has been indicted after allegedly failing to report more than $320,000 in income on his federal taxes. A federal grand jury indicted Charles Marshall Stivers, of Manchester, last week on two charges of making false statements on tax returns in 2018 and 2020. Stivers reported gross income of $245,130 for one tax year, but failed to report another $170,507, the indictment charges.

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Join Liz and Murph for QB Talks on December 13th

Insightful Accountant

Murph is back this month to host Liz as she brings us the quarterly QuickBooks Online focal version of QB Talks, Wednesday December 13, 2023 at 2:00 PM Eastern time.

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Next-Level Fraud Prevention: Strategies for Today’s Threat Landscape

Speaker: Sierre Lindgren

Fraud is a battle that every organization must face – it’s no longer a question of “if” but “when.” Every organization is a potential target for fraud, and the finance department is often the bullseye. From cleverly disguised emails to fraudulent payment requests, the tactics of cybercriminals are advancing rapidly. Drawing insights from real-world cases and industry expertise, we’ll explore the vulnerabilities in your processes and how to fortify them effectively.

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Shakira Reaches Deal to Settle Spanish Tax Fraud Case Before Trial Begins

CPA Practice

By Ellise Shafer, Variety Entertainment News Service (TNS) Shakira has reached a deal with Spanish authorities to settle her tax fraud case, on the day the trial was set to begin. The Colombian pop star was due to appear in court on Monday to face tax evasion charges. Spanish authorities had claimed Shakira owed over €14.5 million in taxes between 2012 and 2014, alleging that she had listed the Bahamas as her primary residence for those years but had in fact spent the majority of her time in Spa

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7 Innovative Ideas to Level Up Your Firm’s Customer Experience

Ryan Lazanis

Check out these innovative ideas regarding customer experience improvements. I also shared a bit of backstory about my personal experience. The post 7 Innovative Ideas to Level Up Your Firm’s Customer Experience appeared first on Future Firm.

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Accounting Best Practices: Transitioning From Development or Rehabilitation to Placed in Service for Affordable Housing Entities

Withum

Once an affordable housing project has been developed or rehabilitated and is ready to be placed in service, the developer usually engages a managing agent to manage the day-to-day operations, monitor compliance with regulations, as well as maintain the accounting records. Most managing agents usually maintain the books on a cash basis and begin recording transactions from rental receipts, other income, and operating expenses.

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The Reality Check We Needed Before Launching Our Business Podcast

IgniteSpot

We're getting ready to launch a podcast at Ignite Spot, and we've run into a little snag. It's a pretty big snag. The problem is that the world doesn't need another general business podcast. If we're going to do this, we need to find a way to make the show valuable.

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Cash Flow Secrets Every Upskilled CPA Should Know

Speaker: Debra L. Robinson

CPAs know the drill: taxes, compliance, rinse, repeat. But what about the sneaky cash flow that’s quietly messing with your organization’s success? It’s time to step into the spotlight and expose the “dirty little secrets” of cash flow to fuel strategic growth. By upskilling your accounting practices and shifting focus from tax compliance to the strategic movement of money, you can transform your role from reactive accountant to proactive financial strategist.

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Passing the Four-Part R&D Tax Credit Test

Shay CPA

Who wouldn’t want to cut their tax bill by as much as $500,000? It’s no surprise, then, that a lot of companies — especially startups trying to extend their runway as much as possible — explore the R&D tax credit. Technically called the Credit for Increasing Research Activities , this tax provision allows companies to claim a credit for certain expenses dedicated toward research.

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Brighter Thinking leads to another TRI Award win for our Business Recovery team

Menzies

Menzies LLP - A leading chartered accountancy firm. Menzies are delighted to have collected an award at the 2023 Turnaround, Restructuring and Insolvency (TRI) Awards for Corporate Restructuring Firm of The Year (4 to 10 licensed appointment-taking Insolvency Practitioners). Our corporate restructuring and turnaround teams continuously strive to go above and beyond to deliver forward-thinking solutions for financially challenged businesses, so we are delighted to be recognised for our efforts.

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Making the Move to Cloud-Based Accounting Software

Canopy Accounting

Numerous experts have touted the cloud as the future of computing. The majority of businesses ( 61% as of 2022 ) rely on the cloud to run business processes. And while the cloud yields numerous benefits (i.e. cost optimization, increased flexibility and scalability, enhanced security, and simplified reporting), the accounting world is divided on making the switch.

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Thanksgiving Interfaith Service

Withum

My Synagogue participated in a joint Interfaith Thanksgiving Service on Sunday. It was very touching and created feelings of fellowship, optimism, and hope, regardless of our differences. No matter what your beliefs are, the basis of each religious leader’s message still carries weight in how we should treat one another. Participating was Rabbi Joel Mishkin from Congregation Beth Ohr, Tariq Sharif, a lay leader representing the Ahmadiyya Muslim Community, Father Joseph Thippabathini from S

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Profit in the Details: Rethinking Spend for Monumental Impact

Speaker: Aaron Berson

Managing spend is more than a cost cutting exercise – it's a pathway to smarter decisions that unlock efficiency and drive growth. By understanding and refining the spending process, financial leaders can empower their organizations to achieve more with less. Explore the art of balancing financial control with operational growth. From uncovering hidden inefficiencies to designing workflows that scale your business, we’ll share strategies to align your organization’s spending with its strategic g

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Protect Yourself in Your Divorce

FraudFiles

You know a divorce is in your future, and you owe it to yourself (and your children, if you have them) to protect yourself financially. Money isn’t everything, but it is very important when you consider your future apart from your spouse.

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The Technology Lab Podcast – Review of Ramp – Nov. 2023

CPA Practice

Technologists Randy Johnston and Brian Tankersley, CPA, discuss Ramp , a finance platform that uses AI and other machine learning technologies to automate AP, expense management and spend management. Use the podcast player below to listen. Transcript (Note: There may be typos due to automated transcription errors.) SPEAKERS Randy Johnston, Brian F. Tankersley, CPA.CITP, CGMA.

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Three things we learnt about small business from the latest XSBI data

Xero

The latest round of Xero Small Business Insights (XSBI) featured plenty of new data showing how small businesses are tracking across Australia, Canada, New Zealand, the United Kingdom and the United States. XSBI is released quarterly and uses anonymised and aggregated data to track the performance of, and improve understanding about, small businesses.

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Binance Pleads Guilty to U.S. Charges, Loses CEO

CPA Practice

By Chris Strohm, Matt Day, Allyson Versprille, and Ava Benny-Morrison, Bloomberg News (TNS) Binance Holdings Ltd. and its CEO Changpeng Zhao pleaded guilty to anti-money laundering and U.S. sanctions violations under a sweeping settlement with the U.S. that allows the cryptocurrency exchange to continue operating. Binance will pay $4.3 billion in one of the largest corporate agreements in U.S. history.

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Navigating Bleisure Travel: A Guide for Mid-Sized Companies

Bleisure travel — where employees combine work and leisure — has been around since the advent of corporate travel and is here to stay. Successful bleisure policies strike a balance between employee preferences and company goals — workers report a 64% improvement in work-life balance, while companies benefit from reduced travel costs and increased workforce innovation.