August, 2020

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BYF CEO & Co-Founder, Hugh Duffy shares some big ideas for CPA marketing

BuildYourFirm

BYF CEO & Co-Founder, Hugh Duffy shares some big ideas for CPA marketing in his latest guest appearance on Geraldine Carter’s “Smart Strategy for CPAs” She Thinks Big Coaching podcast. SheThinksBigCoaching.com/096. [link] com/accounting-marketing- doesn’t-suck-hugh-duffy-build- your-firm/ . The post BYF CEO & Co-Founder, Hugh Duffy shares some big ideas for CPA marketing appeared first on Marketing Accounting Firms and CPAs.

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Shannon Bloom Earns CFE Credential

SMBAccountant

Austin, TX – August 4, 2020 — The Association of Certified Fraud Examiners (ACFE), the world’s largest anti-fraud organization and leading provider of anti-fraud training and education, is pleased to award Shannon Bloom, of Melbourne, FL, the globally preferred Certified Fraud Examiner (CFE) credential. In order to become a CFE, Bloom has met a stringent set of criteria and passed a rigorous exam administered by the ACFE.

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All About Limited Liability Companies(LLC)

Bharmal&Associates

All About Limited Liability Companies(LLC). LLC owners are called members. Single-member LLCs have one owner, although spouses who jointly own an LLC in a community property state can elect treatment as a single member LLC for federal income tax purposes. We will call LLCs with two or more members multimember LLCs. Key point: LLCs are not corporations.

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Rapidly Growing an Accounting Firm: An Interview with Glenn Hetzel

PANALITIX

RESOURCES / ARTICLES. Rapidly Growing an Accounting Firm: An Interview with Glenn Hetzel. In a wide-ranging interview, Glenn Hetzel, Managing Partner of Glenn B. Hetzel & Associates, CPAs spoke frankly and clearly on the many challenges and opportunities related to growing an accounting business. Here are excerpts. Some Background on Glenn. After graduating from the University of Miami, Glenn joined a large regional accounting firm and then their largest client – an international conglomerat

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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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How Startups Can Succeed at Virtual Hiring

BurklandAssociates

Jamie Ceglarz, CEO of Guild Talent, provides tips to help startups succeed at virtual hiring. Jamie shares his 3-part virtual hiring plan for startups, plus a formula for "working" virtual Read More. The post How Startups Can Succeed at Virtual Hiring appeared first on Burkland.

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Google Almost Done With Transition To SAP Ariba Network

PYMNTS

Google’s transition to SAP Ariba ‘s cloud-based services has a completion date set for Aug. 24 after multiple waves that began last October, according to a press release. The final wave concerns the Asia Pacific region. Last October, U.S. suppliers were switched over, and in May of this year, the rest of North America, Latin America, Europe, the Middle East, and Africa made the jump, the release says.

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Common Accounting Mistakes: Government Edition – Issue #3 Policies and Procedures

SMBAccountant

Policies and procedures are a formalized way of defining how a company chooses to run their business. They may not be written down or overly detailed, but even the smallest companies have their own way of doing things. When working as a government contractor, these processes and policies need to be written, reviewed, and updated regularly to ensure compliance with the company’s own requirements, and the accounting standards demanded of contractors spending tax dollars.

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How Law Makers Working to Make PPP Loan Expenses Deductible & How You Can Help

Bharmal&Associates

How Law Makers Working to Make PPP Loan Expenses Deductible & How You Can Help. As you read this, it’s likely that your lawmakers are working on the next Payroll Protection Program (PPP) package. And hopefully, in this next package they will include a provision that allows you to deduct business expenses that you pay with your PPP money. Let’s explain.

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Business Advisory in a Post-COVID Environment: An Interview with Michael Burke

PANALITIX

RESOURCES / ARTICLES. Business Advisory in a Post-COVID Environment: An Interview with Michael Burke. We covered a lot of ground in a recent interview with Panalitix client Michael Burke of Burke Raftery Chartered Accountants. Here are some excerpts. Michael’s Background. Michael started in audit with KPMG in Melbourne, Australia though he always planned to go into industry.

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Payroll Tax Resolution – How to Resolve Payroll 941/940 Tax Problems

MyIRSRelief

If you want an easy and stress-free business life, one of the best tips we can give you today is to stay on the IRS’ good side and to not tick them off. Payroll tax resolution issues are amongst the most common reasons for the IRS pursuing Los Angeles or other cities, business taxpayers, or individuals whom they deem should be responsible taxpayers, which is why it’s important to ensure that you resolve any payroll 941/940 tax problems sooner, rather than later, should they arise.

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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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Wirecard Linked To Mafia Money Laundering

PYMNTS

Scandal-plagued German FinTech pioneer Wirecard counted among its payments processing clients an online casino that laundered money for an arm of “one of Europe’s most dangerous mafia organizations,” the Financial Times reported on Monday (August 3). The paper cited documents and “Italian legal sources” in its story about the organized crime syndicate ’Ndrangheta and CenturionBet, an online gaming company based in Malta.

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5 Advantages of Automating Manual Processes In Your Business

GrowthForceBlog

Automating small tasks can make a huge impact, here's why. A recent survey of 280 US companies found 62% of business owners have identified three or more major inefficiencies in their manual business processes that could be resolved with automation. As new forms of automation are transforming the work world, more and more companies are taking the leap from manual business processes to automated solutions.

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Shannon Bloom Earns CFE Credential

SMBAccountant

Austin, TX – August 4, 2020 — The Association of Certified Fraud Examiners (ACFE), the world’s largest anti-fraud organization and leading provider of anti-fraud training and education, is pleased to award Shannon Bloom, of Melbourne, FL, the globally preferred Certified Fraud Examiner (CFE) credential. In order to become a CFE, Bloom has met a stringent set of criteria and passed a rigorous exam administered by the ACFE.

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Four PPP Forgiveness Answers for S-Corp Owner-Employees

Bharmal&Associates

Four PPP Forgiveness Answers for S-Corp Owner-Employees. Tax law definitions do not apply to much of the Payroll Protection Program (PPP), making it new ground for owners of S corporations. Here are answers to four questions of concern to many S corporation owners. Spouse Owns S Corporation. Question. My wife owns 100 percent of the S corporation. She has a full-time job and does no work for the S corporation.

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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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Succession: Starting Early and Communicating Clearly

PANALITIX

RESOURCES / ARTICLES. Succession: Starting Early and Communicating Clearly. Working closely with over 200 accounting businesses across three continents, we get to watch their evolution and be a part of their success. Many milestones are achieved such as revenue goals, income goals or launching a new service. A critically important milestone is succession : the act of transitioning the business to new owners.

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Video: Doing Great Things Featuring Aditya Maheshwari of Kanak

Katz,Sapper&Miller

“Inspiring great people to do great things” is Katz, Sapper & Miller’s mission, and we’re honored to play a small part in helping clients across a wide variety of industries think big, bring their innovative ideas to life, and serve their communities and customers.

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Retailers Using Chapter 11 To Break Lease Agreements

PYMNTS

Companies that have filed for Chapter 11 bankruptcy are using the court protection to end long-term lease agreements early and close thousands of stores, reported Bloomberg. The news site named Neiman Marcus Group Inc, Brooks Brothers Group Inc, J.C. Penney Co., J. Crew Group Inc. and the owner of Ann Taylor as companies looking to use this protection to avoid lease renegotiations and even back out of rent obligations altogether.

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How To Prevent Employee Burnout & Maximize Productivity

GrowthForceBlog

The old adage “work smarter, not harder” rings true. Burnout decreases productivity, and employees are no longer working efficiently. As a result, they are not working to their full potential and are falling short of outputs. No one wins. Workplace burnout has officially been recognized as a medical diagnosis by the World Health Organization. Described as “a syndrome conceptualized as resulting from chronic workplace stress that has not been successfully managed,” this may not come as a surprise

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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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Common Accounting Mistakes: Government Edition - Issue #4 Documentation to Prove It!

SMBAccountant

Receipts, emails, contracts, timecards… the list of items a small business must maintain as documentation goes on and on! When a small business enters the world of government contracting, the risk associated with maintaining supporting documentation increases significantly. Not only must you have supporting documentation, but you must have the correct information recorded to PROVE a transaction exists, is compliant with all laws and regulations, and was recorded properly.

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How to Correct a W-2 Form If You Make a Mistake

Patriot Software

Let’s face it: everybody makes mistakes. So, if you make a mistake on an employee’s Form W-2, don’t panic. Instead, learn how to correct a W-2 form and take action. You can correct Form W-2 even after filing it with the Social Security Administration (SSA). Read on to learn types of common W-2 errors and […]. The post How to Correct a W-2 Form If You Make a Mistake appeared first on Patriot Software.

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How Skagit County area Businesses Get More Done With Less Time

SkagitCountyTaxServices

Would you shoot me a note? How are things going for your Skagit County area business right now? Doesn’t have to be long … just a little status update, is all. There might be some things we can do to help, if needed (or traps we can help you avoid if things are rolling along well). From what I’m seeing, the rolling, rippling economic effects of this virus and the lockdown/quarantine, etc.

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Governmental Accounting Standards Update: 8/31/20

Katz,Sapper&Miller

The Government Accounting Standards Board (GASB) regularly issues GASB Statements to set accounting and financial reporting standards for state and local governments that follow generally accepted accounting principles in the United States (U.S. GAAP). Below are select statements that were recently issued.

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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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Report: $50B In Cryptocurrency Moved Out Of China

PYMNTS

More than $50 billion of cryptocurrency was transferred from virtual wallets in China to other parts of the world last year, a potential violation of the nation’s strict limits on how much money can be sent abroad, according to a new report. While Chinese traders are limited to the purchase of up to $50,000 of foreign currency annually, the volume suggests stablecoins could be being used to circumvent the regulation, according to Chainalysis , the New York-based provider of regulatory compliance

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PPP Loan Forgiveness Updates – Live Webinar 

CapataCPA

PPP Loan Forgiveness Updates Webinar Come join our webinar to get more information on the PPP loan forgiveness process. We will show you what the updated eligible expenses are, cover the new Paycheck Protection Flexibility Act, go through the new Interim Final Rule, and walk you through the rules for loan forgiveness. We want to. The post PPP Loan Forgiveness Updates – Live Webinar appeared first on CPA firm in Orange County, CA | CAPATA.

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Common Accounting Mistakes: Government Edition - Issue #4 Documentation to Prove It!

SMBAccountant

Receipts, emails, contracts, timecards… the list of items a small business must maintain as documentation goes on and on! When a small business enters the world of government contracting, the risk associated with maintaining supporting documentation increases significantly. Not only must you have supporting documentation, but you must have the correct information recorded to PROVE a transaction exists, is compliant with all laws and regulations, and was recorded properly.

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Google Asks FCC For OK To Test 6G Service

PYMNTS

Google is asking the Federal Communications Commission (FCC) for permission to hold radio experiments “in and near the 6 GHz band,” according to a recent filing with the agency. The tech company said in the filing that it “proposes to conduct experimental propagation testing in the 6 GHz band to produce technical information relevant to the utility of these frequencies for providing reliable broadband connections.”.

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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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Waze Introduces Contactless Payments At ExxonMobil, Shell Stations

PYMNTS

Waze, the popular GPS navigation app owned by Google, has introduced contactless payments for ExxonMobil and Shell card holders in the U.S. When drivers pull into participating stations, they will see a notification on Waze prompting their Android or iOS device to securely pay through each company’s app. “Waze is committed to continuing to help businesses leverage innovative technology to adapt, evolve, and engage with customers,” said Andrew Kandel, Waze U.S. country manager, in a statement.

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The Clearing House On The Race for Real-Time Payments In The US

PYMNTS

Real time is getting ever closer to prime time. But it might not be the Federal Reserve ’s doing. You’d be forgiven for thinking that faster payments might be the purview of the U.S. Federal Reserve, where details (a roadmap, really) of FedNow , the proposed instant payment system, were released earlier this month. But with a 2023-24 timeframe to implementation, the Fed’s efforts will take a while to cross the Rubicon from concept to reality.

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What Digital Banks Are Doing Right

PYMNTS

The past several years have been good times for digital banking players popping up to challenge traditional brick-and-mortar financial institutions for market share, but recent months have accelerated that trend into overdrive. Consumers worldwide are realigning their entire lives around digital — and looking for financial services providers to meet their new, emerging lifestyles.

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Coinstar CEO On The Ongoing Journey To Digitize Cash (And Turn It Into Crypto)

PYMNTS

The great digital shift, along with the pandemic, has brought all manner of activities into the virtual realm — most notably, of course, commerce itself. To that end, as Coinstar CEO Jim Gaherity told PYMNTS, the stage is becoming increasingly set for currency — the literal cold, hard stuff of bills and coins — to be rendered in bits and bytes. The evolution — beyond sorting coins stored in proverbial piggy banks and coffee cans and toward bill pay and commerce, all in a self-service environment

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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.