February, 2023

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Accounting Leads: 21 Tactics to Generate More

Ryan Lazanis

If you’re looking for tried, tested, and true tactics to help you generate more accounting leads for your firm, you’re in the right place. Read on to access 21 actionable methods that you can implement to help increase your client base. Let’s go! Table of Contents What is Lead Generation for Accountants 21 Tactics to Help You Generate Leads What is Lead Generation for Accountants?

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FAQ tax problem resolution – get taxiety relief today

MyIRSRelief

Tax anxiety, TAXIETY, comes in different forms of tax problems such as: What is an IRS audit taxiety? An IRS audit is a review or examination of an individual’s or organization’s tax return to ensure that the information is accurate and that the tax return is being filed in compliance with the tax laws. If the IRS finds errors or discrepancies in the tax return during the audit process, it may result in an adjustment to the tax liability and possibly additional taxes owed, penalties

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9 in 10 Accounting and Audit Firms Struggle to Find Talent

CPA Practice

What is the fastest-growing challenge facing accounting firms and internal audit departments today? More than 90% point to hiring and retaining skilled accountants and auditors. Some are even turning away business due to a shortage of staff. That’s the finding of two newly released reports by leading software provider Caseware International , which surveyed more than 6,000 accountants and auditors globally.

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Boost Your Financial Performance: Reports Your FP&A Team Needs

Acterys

To deal with economic and market turbulence, businesses must create well-rounded financial plans and monitor business performance against targets regularly. Luckily, the board of directors and C-level executives can rely on the expertise of FP&A professionals. FP&A teams play a key role in ensuring the financial stability of a business. They monitor past data, understand the present financial position, and prepare for the future accordingly.

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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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SEO for Accountants: 14 Tactics to Acquire Clients

Ryan Lazanis

Looking for one of the top digital marketing strategies to help potential clients easily find you? Then you’ll want to read the rest of this article on SEO for accountants. In this article, you’ll find out: What SEO for accountants is Why it’s important for your firm’s growth 14 practical tips & tricks to boost your website to the top of Google Let’s go!

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The Big 3 Barriers to Managing Sales Tax

TaxConnex

Think you’re the only one worried about sales tax compliance? According to our third annual Sales Tax Market Survey you’re not. “Our company is highly acquisitive and this results in lack of consistency when it comes to billing, accounting and reporting,” said one survey respondent. “Increasingly, I am finding the people who ‘know’ the products and classified them for tax coding purposes long before I arrived do not understand the importance of the little details that can make a huge difference

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The Importance of “Soft Skills” for Organizations

BurklandAssociates

“Could your team benefit from some soft skills training?” Read why your answer should always be yes! The post The Importance of “Soft Skills” for Organizations appeared first on Burkland.

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Small Business Tax Deductions Checklist: All You Need to Know About Tax Deductions

Snyder

Tax liability is an inevitable part of running a business. Every year business owners have to bear the burden of the tax season, paying taxes for income, payroll, property, sales, and so on. In total, nearly 30% of a business’ income is needed to cover all tax payments. According to statistics, the U.S. government received total tax receipts of 4,05 trillion USD within a year.

Tax 98
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Accounting Thought Leaders Discuss Future of the Profession, Advisory Services, and Tax

CPA Practice

Nearly 30 of the most influential consultants, practitioners and accounting technology visionaries convened in New York City Feb. 20-22, 2023, for CPA Practice Advisor ‘s 13th annual Accounting Thought Leader Symposium. CPA Practice Advisor editor-in-chief Gail Perry, CPA, leads discussion with attendees at the 2023 Accounting Thought Leader Symposium.

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Will there be a recession? How spend management improves agility in the face of uncertainty.

Airbase

“Those who have knowledge don’t predict. Those who predict don’t have knowledge.” — Lao Tzu Predictions about the state of the economy are notoriously difficult. In fact, one study by the International Monetary Fund concluded that economists are uniformly unsuccessful at predicting recessions. In the words of Prakash Loungani, one of the study’s authors, “the failure of economists to forecast recessions is virtually unblemished.

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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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5 Key Findings from TaxConnex’s 3rd Annual Sales Tax Trends Report

TaxConnex

Findings from the third annual Sales Tax Market Survey indicate that a perfect storm is brewing for financial leaders in the new year. Companies still struggle to navigate workforce shortages and retention of internal expertise, yet they remain highly dependent on in-house resources to perform many of the vital functions related to sales tax. Their resources are stretched thin, and bandwidth is reported to be the top barrier for success.

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What Business Owners Can Do About Insurance Fraud

RogerRossmeisl

According to various sources, around 10% of all insurance claims involve fraud. Insurance companies generally pass along the cost of these fraud losses to policyholders in the form of higher premiums. Unfortunately, small businesses, which are generally less able to pay premium hikes, are particularly vulnerable to insurance fraud. To protect your company from losses and minimize the likelihood of increased premiums, learn how to identify insurance fraud.

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Founders: Is It Time to Consider a Down Round?

BurklandAssociates

When viewed unemotionally with the company’s best interests in mind, a down round may be the best way to get fresh capital in the door. The post Founders: Is It Time to Consider a Down Round? appeared first on Burkland.

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Tapping into the Power of Conversational AI in Planning: Instant Insights from Chat GPT

Acterys

The act of planning is a crucial component in any business approach, and companies frequently allocate ample time and resources to establish efficient plans. Nevertheless, traditional approaches to Extended Planning and Analysis (xP&A) can prove to be arduous and consume a lot of time, particularly for individuals who want to gain business insights without depending on IT support.

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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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The Impact of AI on the Accounting Profession

CPA Practice

In late 2022, a new AI tool, called ChatGPT , exploded into the marketplace. Since then, it’s been mentioned in hundreds of online articles, in chatrooms, and in the media. According to Reuters , “ChatGPT, the popular chatbot from OpenAI, is estimated to have reached 100 million monthly active users in January, just two months after launch, making it the fastest-growing consumer application in history.

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What is procure-to-pay software?

Airbase

Procure-to-pay (P2P) software originated from the need to oversee the process of acquiring supplies for manufacturing and other industries, and to manage inventory in the retail sector. Procurement has faced numerous challenges in recent years: transportation issues, inflation, labor shortfalls along the supply chain. But organizations can overcome those difficulties and position themselves to grow and thrive — with the help of the right technology.

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Kentucky now taxes a range of services

TaxConnex

“Services” are generally not subject to sales tax while tangible personal property generally is subject to sales tax. This over simplification can get you sideways in various states as there are lots of exceptions to these general rules. Kentucky is the latest in terms of taxing specific services. The Bluegrass State looks to expand sales tax on what it calls high-growth services.

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May 15 Tax Deadline Extended to October 16 for California Disaster Area Taxpayers

RogerRossmeisl

As reported in IR-2023-33 on 2/24/2023 Disaster-area taxpayers in most of California now have until October 16, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced last Friday. Previously, the deadline had been postponed to May 15, 2023 for these areas. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA) in on the page entitled California Severe Winter Storms, Flooding, Lan

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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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EBITDA: A Metric Every Startup Founder Should Know

BurklandAssociates

EBITDA provides an accurate overall financial performance picture and helps investors understand their potential returns. The post EBITDA: A Metric Every Startup Founder Should Know appeared first on Burkland.

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Stock Up for Success: How to Choose the Right Inventory Planning Solution?

Acterys

Selecting the right inventory planning solution is critical for efficient supply chain management. As the amount of data increases, organizations want to invest in a complete planning solution that can connect to multiple data sources, extract, and optimize data models, and offer accurate demand forecasts that can help manage optimal inventory levels.

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Tax Court Shows Why Real Mileage Logs are Important

CPA Practice

A taxpayer who deducted expenses attributable to the business use of his vehicles took a wrong turn before the Tax Court. Ultimately, he wasn’t able to back up his claims (Eze, TC Memo 2022-83, 8/4/22). Generally, you can deduct costs relating to the business use of your vehicle, subject to certain rules and limits. However, you must meet strict substantiation requirements spelled out by the IRS.

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Los Angeles Tax Services

MyIRSRelief

Tax Preparation, Tax Planning, and Tax Representation: Understanding the Importance of Professional Assistance Tax preparation, tax planning, and tax representation are all crucial components of managing your finances and ensuring that you meet your tax obligations. In this article, we will delve into what these terms mean, why they are important, and how to choose the right professional to help you.

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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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A history of sales tax

TaxConnex

All hail sales tax! Taxing certain goods dates back as far as 4,000 years. Ancient Egypt taxed cooking oil, for instance. The tax was levied on a product people had to buy and were forbidden to reuse (coincidentally, the Pharaoh had a monopoly on production). Imperial Rome’s Julius Caesar is considered to have implemented a proper sales tax, a 1% flat rate across his entire Empire.

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The Standard Business Mileage Rate is Going Up in 2023

RogerRossmeisl

Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up in 2023. The IRS recently announced that the 2023 cents-per-mile rate for the business use of a car, van, pickup or panel truck is 65.5 cents. These rates apply to electric and hybrid-electric automobiles, as well as gasoline and diesel-powered vehicles.

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Teaming Finance and People Ops to Manage Pay Transparency

BurklandAssociates

New pay transparency compliance laws make this responsibility all the more daunting, with real fines as a repercussion. The post Teaming Finance and People Ops to Manage Pay Transparency appeared first on Burkland.

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Achieving Inventory Efficiency: 6 Steps to Develop a Winning Plan

Acterys

No matter what your business looks like at present, it is essential to establish a successful inventory plan and management strategy to ensure the success of your business. Developing an effective inventory plan is crucial since it helps to enhance customer satisfaction, increase profitability, reduce costs, and improve cash flow. Previously, we looked at the basics of inventory planning and the four main pillars of an inventory plan.

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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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529 Plans Get a Boost with Tax-Free Rollovers to Roth IRAs

CPA Practice

By Erin Bendig, Kiplinger Consumer News Service (TNS) Maybe you had a child change their mind and not go to college or you saved more than necessary, and now you’re wondering what to do with the cash locked away in your 529 plan. Thanks to the SECURE 2.0 Act, you’ll soon be able to roll over funds from your 529 plan into a Roth IRA, as long as certain conditions are met.

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The cost of inaction: An urgent call to upgrade accounting processes.

Airbase

If you’re like most mid-market to early-enterprise companies, you’ve probably built up — or inherited — a number of systems in your financial tech stack to manage spending. The legacy ones include Expensify, bill.com, and Concur. You’ll have a card program like AMEX or SVB, or maybe a software-enabled one like Ramp or Brex. But, in this new era of cost savings and efficiency, the limitations and expense of these point solutions are increasingly clear.

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Ready for a Successful 2023

TaxConnex

We are excited to share in that we closed out 2022 breaking our annual new business revenue goal! We saw a 40% increase in new sales as compared to the prior year and are set for a great 2023. “Many businesses continue to try and manage sales tax in-house, but this past year showed that the economic un-certainty along with a lot of turnover and layoffs has left compliance in the hands of those that don’t have the bandwidth or expertise,” explained Brian Greer, CRO of TaxConnex.

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IRS Issues Guidance and FAQ Updates Related to the Clean Vehicle Tax Credits

RogerRossmeisl

On 2/3/2023, the IRS issued Notice 2023-16 guidance that modifies the definitions of certain vehicle classifications for the new, previously owned and qualified commercial clean vehicle tax credits. As a result of this notice, the IRS updated the related frequently asked questions for these credits which can be found on IRS Fact Sheet 2023-4 here: IRS Fact Sheet 2023-04 (This is Blog Post #1340) The post IRS Issues Guidance and FAQ Updates Related to the Clean Vehicle Tax Credits appeared first

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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.