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These days, social media is a necessity in today's business world. It's a place to make connections, network and keep a pulse on your industry. Search algorithms have become more sophisticated over the years and content across social channels continues to be curated towards users’ specific interests and needs. Social media is a powerful source of industry information if you’re engaging with the right accounts.
While most accounting teams use Excel for their spreadsheet needs, a growing number of teams and organizations are moving to Google Sheets. At time where remote teams are ubiquitous, collaboration and cost ( Google Sheets is a free tool), are driving greater adoption of Google applications. Here are three helpful formulas in Google Sheets that all accounting teams should know. .
Summer vacation season is here – and it’s yet another area where sales tax shows up. The sales tax associated with s ervices is a different sales tax animal as compared to tangible personal property. The taxing of certain travel related services, such as lodging, can be taxable in some states. The likes of Expedia and Orbitz have a long history battling various states in the courts even as localities start making deals with new players in hospitality.
On 6/1/22, the IRS made available an update to the “Cost Segregation Audit Techniques Guide” (Publication 5653). Originally issued in 2004, the purpose of the Audit Techniques Guide (ATG) was to offer guidance to IRS auditors auditing cost segregation studies. Because the ATG is an interpretation of the law, as opposed to the law itself, it cannot be cited as precedent.
Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.
This conversation is from an episode of Startup Success. In this special episode, Burkland’s Steve Lord, CFO Fintech Practice Lead, and Daniel Rosenbaum, Burkland Consulting CFO, give candid advice on Read More. The post The 3 C’s of Downturn Planning: Cash, Communication, Contingency appeared first on Burkland.
You hear about it all the time in the news—Cost of living rising! Maybe you think about it on a daily basis—Do I earn enough to cover my standard of living? But, how often have you thought about the relationship between the cost of living and your business? If it’s crossed your mind before, then […] READ MORE.
You hear about it all the time in the news—Cost of living rising! Maybe you think about it on a daily basis—Do I earn enough to cover my standard of living? But, how often have you thought about the relationship between the cost of living and your business? If it’s crossed your mind before, then […] READ MORE.
The reality is, technical competence still lies at the heart of adding value. When you can flag changes in accounting, auditing, and tax that clients didn’t know about, and help them manage commercial impacts with innovative solutions, then you’re well on your way to gaining their trust. But how do you stay current on accounting and auditing standards when there are new developments happening all the time?
Complying with your sales tax obligations involves a lot of variables – your nexus, taxability of your products, type of customer you are selling to, etc. Another key factor that effects your sales tax obligations is related to exempt transactions and exemption certificates. Exemptions are statutory exceptions eliminating the need for the retailer to collect sales tax on a particular transaction or on all transactions with a customer.
As noted in my May email, we recommend taking action from the downturn playbook now. In today’s article, I’ll share four things startup founders should do to prepare for a Read More. The post Four Things Startup Founders Should Do Now to Prepare for a Downturn appeared first on Burkland.
As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R
With rapid development of technology and even more rapid increase in the amount of generated data, data analytics is defining the success of any business trying to keep up and provide the best customer experience. Competition in the marketplace is growing fast and the need to produce data-driven decisions promptly has never been more important. It means that the timeline for coming up with solutions is getting shorter and shorter.
We have done it again. Acterys has been included in the Top-Rated Performance Management Vendors for 2022 by BPM Partners. Last year, Acterys entered the ring as the Best New Vendor in the Annual BPM Pulse Awards 2021. Acterys is now a returning champion securing an overall Excellent 4.6 rating for overall customer satisfaction and a whopping 94% user recommendation rate.
Determining your sales tax obligations hinges on if your products or services are taxable and whether you have sales tax nexus which can be defined as either a physical presence or economic presence. That by itself is confusing enough, and unfortunately it gets more confusing. Focusing on economic nexus, each state defines certain thresholds that include the amount of revenue sourced to a particular state and/or the number of invoices in a particular state.
Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.
The IRS recently released guidance providing the 2023 inflation-adjusted amounts for Health Savings Accounts (HSAs). High inflation rates will result in next year’s amounts being increased more than they have been in recent years. HSA basics An HSA is a trust created or organized exclusively for the purpose of paying the “qualified medical expenses” of an “account beneficiary.
We first published this article as part of a three-part series to help startups in the early weeks of the Covid downturn. In light of current world events and economic Read More. The post 3 Tools to Extend Your Startup’s Cash Runway appeared first on Burkland.
RESOURCES / ARTICLES. Accountants as Advisors– and the Elephants in the Room! How do Accountants sell more advisory services? This is a question we get asked a lot… and the answer can be more complicated than it appears. For starters, WHY would Accountants WANT TO sell more advisory services? There could be good reasons like: They find advisory work fun and rewarding, perhaps because they get to work more deeply with clients who value their support.
AI is reshaping industries, yet finance remains one of the slowest adopters. Concerns over compliance, legacy systems, and data silos have made finance teams hesitant to embrace AI-driven transformation. But delaying adoption isn’t just about efficiency—it’s about staying competitive in a rapidly evolving landscape. How can finance leaders overcome these challenges and start leveraging AI effectively?
Science fiction movies and books may portray artificial intelligence as a human-like giant brain with thousands of wires coming from it that control whole cities and their populations. The reality today is that artificial intelligence is unobtrusive, everywhere, and we are interacting with it multiple times daily without always recognizing that we are.
Determining your sales tax obligations hinges on if your products or services are taxable and whether you have sales tax nexus which can be defined as either a physical presence or economic presence. That by itself is confusing enough, and unfortunately it gets more confusing. Focusing on economic nexus, each state defines certain thresholds that include the amount of revenue sourced to a particular state and/or the number of invoices in a particular state.
Businesses should be aware that they may be responsible for issuing more information reporting forms for 2022 because more workers may fall into the required range of income to be reported. Beginning this year, the threshold has dropped significantly for the filing of Form 1099-K, “Payment Card and Third-Party Network Transactions.” Businesses and workers in certain industries may receive more of these forms and some people may even get them based on personal transactions.
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Globally, many organizations have started paying more attention to tracking their Environmental, Social, and Governance (ESG) impact due to its increasing importance among customers, investors, and other stakeholders. This rising interest in ESG is supported by statistics as well. According to a report on consumer and employee ESG expectations by PwC, 83% of consumers think organizations should work on implementing ESG best practices.
We have seen an uptick recently in enforcement activity regarding paycheck protection program (PPP) loan eligibility and forgiveness. The Small Business Administration (SBA) typically pursues the civil investigations, usually by denying a loan forgiveness application and forcing the borrower to pursue an administrative appeal and then possibly an appeal in court.
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Many people own Series E and Series EE bonds that were bought many years ago. They may rarely look at them or think about them except on occasional trips to a file cabinet or safe deposit box. One of the main reasons for buying U.S. savings bonds (such as Series EE bonds) is the fact that interest can build up without the need to currently report or pay tax on it.
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Big 4 compensation season kicked off a little more than a week ago when Deloitte employees got their comp statements and then proceeded to head over to r/accounting to whip it out and show it off for all to see. Since the last time Deloitters got their comp statements in May 2021 , the firm in December bumped up base pay for employees whose salaries were below market rates.
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