ThomsonReuters

JULY 6, 2023

As accounting firms look to differentiate themselves from the competition, one trend is leading the way: business advisory. From advising on mergers and acquisitions to specializing in accounting and advisory in your clients’ specific industry, there are many ways to take advantage of this unique opportunity. What are business advisory services? Business advisory services capitalize on the unique insight of accounting firms to make a profitable shift from serving clients as a once-a-year tax com

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ThomsonReuters

JULY 6, 2023

If you’re a leader within an accounting firm, you’ve likely heard of advisory services and their lucrative impact. This trend is picking up pace as traditional accounting firms seek more strategic and meaningful work that goes beyond just tax returns. Offering your clients proactive advice through accounting advisory services is especially important as the regulatory and legislative landscape continues to become increasingly complex.

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Accounting Today

JULY 5, 2023

CPA firms have been recruiting more people without accounting degrees and backgrounds as a way to fill their open jobs while expanding diversity in their workforce.

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MyIRSRelief

JULY 3, 2023

ERC IRS Audit Representation: Your Comprehensive FAQ Guide The Employee Retention Credit (ERC) has been a lifeline for many businesses during challenging times, providing substantial relief. However, with the IRS actively scrutinizing ERC claims, it’s crucial for businesses to understand their rights and options when facing an audit. In this FAQ article, we dive into the intricacies of ERC IRS audit representation , answering common questions and shedding light on the audit process, rights

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Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

Finance

Accounting Today

JULY 3, 2023

Global tax professionals are concerned about the impact of the OECD's base erosion and profit shifting plan, as well as artificial intelligence technology.

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CPA Practice

JULY 5, 2023

By Kelley R. Taylor, Kiplinger Consumer News Service (TNS) There’s a new IRS scam to watch out for. Some people are receiving cardboard envelopes in the mail containing the IRS masthead and the wording: “in relation to your unclaimed refund.” Monday, the agency warned that the mailings are a scam to trick taxpayers into providing sensitive information to thieves.

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GrowthForceBlog

JULY 6, 2023

7 min read Business owners know that maintaining financial records is necessary for generating financial reports, budgeting, making payroll, and keeping up with the general requirements of operating a business. Key Takeaways How Long to Save Your Company's Financial Records: As a general rule of thumb, though, most businesses hold onto their financial records for seven years and their employee records for 10 years… Digitize Your Records: Office space is limited, secure storage is expensive, and

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BurklandAssociates

JULY 10, 2023

If the CFO is the high-beam headlights at a company, accounting is the rear-view mirror. AI will make the former brighter and the latter sharper. The post AI and the CFO: Elevating a Strategic Function appeared first on Burkland.

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GrowthForceBlog

JULY 5, 2023

7 min read Business budgeting and forecasting are highly useful practices in businesses of all sizes. While they're both important tools for business management and strategy, it's common for business owners to confuse budgeting and forecasting. Key Takeaways The Purpose of a Business Budget: The purpose of a business budget is primarily to provide your company with a short-term spending plan for the upcoming year (or another set financial period)… Know How to Create a Budget: First, you need to

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RogerRossmeisl

JULY 16, 2023

You may think you don’t need to make any estate planning moves because of the generous federal estate tax exemption of $12.92 million for 2023 (effectively $25.84 million if you’re married). However, if you have significant assets, you should consider establishing a living trust to avoid probate. Probate is a court-supervised legal process intended to make sure a deceased person’s assets are properly distributed.

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Legal CPA Tax 217

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

Account

Going Concern

JULY 11, 2023

The Wall Street Journal wrote today about recent disclosures made by Advance Auto Parts, Joby Aviation, and Germany’s Evotec that specifically point to a lack of accounting staff as a contributor to or sole factor causing certain material weaknesses. It seems we are entering the “find out” phase of FAFO, the FA being shitty pay (and to a lesser extent, decades of ineffective recruiting strategies).

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TaxConnex

JULY 25, 2023

If you’re a telecommunications services company, you face greater trials than other businesses when complying with federal, state and local jurisdictions. In addition to state and local taxes, your business may also be subject to various federal and state regulatory obligations. Federal regulatory obligations are administered through Universal Services Administrative Company (USAC) and state regulatory requirements are administered through the Public Service Commissions (PSC) or Public Utility C

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Airbase

JULY 19, 2023

For most unicorns, the average time from initial concept to the coveted $1B+ valuation is about seven years. Over that time, these companies go through many rapid stages of evolution. In this often chaotic push for growth, the prime focus is on obvious revenue drivers, like product development and creating a scaled go-to-market motion. Unless they are a hardware company, having an optimum procurement system is not a typical priority in those early growth stages.

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BurklandAssociates

JULY 25, 2023

Your startup’s finance needs will evolve as the business scales. Use this guide to be ready with the right systems at the right times. The post A Roadmap to Scaling Finance Systems for Early-Stage Startups appeared first on Burkland.

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Advertisement

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

accounting and finance

MyIRSRelief

JULY 17, 2023

Tax planning is a vital aspect of financial management, both for individuals and businesses. It involves a proactive approach to legally reduce tax liabilities by optimizing financial decisions throughout the year. In this comprehensive guide, we will explore various tax planning techniques and strategies that can empower you to keep more of your hard-earned money while staying in full compliance with the tax laws.

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RogerRossmeisl

JULY 16, 2023

If you and your employees are traveling for business this summer, there are a number of considerations to keep in mind. Under tax law, in order to claim deductions, you must meet certain requirements for out-of-town business travel within the United States. The rules apply if the business conducted reasonably requires an overnight stay. Note: Under the Tax Cuts and Jobs Act, employees can’t deduct their unreimbursed travel expenses on their own tax returns through 2025.

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tax return CPA Tax business tax 186

CPA Practice

JULY 5, 2023

By Mia Gindis, Bloomberg News (TNS) A recent study of students attending four-year colleges and universities in 2022 found that two-thirds of the graduating male respondents received paid internships compared to less than half of women, despite women representing 70% of the 2,140 seniors surveyed. The research, conducted by the National Association of Colleges and Employers, is in line with other findings from previous years, suggesting that undergraduate work experiences might set the stage for

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TaxConnex

JULY 27, 2023

Sales tax is meant to be a pass-through tax and thus one that should have minimal impact on a company’s bottom line. The sales tax is collected by businesses and “passed-through” to the taxing jurisdictions. Of course, there is cost associated with managing this compliance obligation; however, the costs of not managing the compliance process are significantly greater.

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Advertisement

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

Technology

Accounting Today

JULY 3, 2023

The Internal Revenue Service is cautioning taxpayers to beware of a new scam in which fraudsters are sending out cardboard envelopes from a delivery service asking for personal info.

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BurklandAssociates

JULY 18, 2023

Mitigate the risk of fraud and embezzlement at your startup with these easy to implement financial controls. The post Key Financial Controls for Startups appeared first on Burkland.

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Airbase

JULY 12, 2023

A recent survey of global CFOs identified risk controls and compliance as top concerns for 2023 — right behind cash flow. So, here’s the dilemma: finding the right balance to enforce compliant spending without slowing down or frustrating employees. It’s a difficult balance to achieve. Consider this scenario: A procurement executive wants to improve company-wide compliance with purchasing policies, so they invest in a highly engineered, sophisticated procurement solution.

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RogerRossmeisl

JULY 16, 2023

If you’re considering buying a company, fraud may be the last thing on your mind. Unfortunately, you can’t afford to ignore the possibility that your acquisition target is hiding something — possibly something that will have negative financial and legal implications after the deal is complete. To ensure the transaction is what it appears to be, acquaint yourself with the issues and include a forensic accounting expert on your deal team.

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forensic accounting financial statements Legal CPA 176

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.

Account

Acterys

JULY 12, 2023

In the dynamic world of finance, where strategic decisions shape the course of businesses, mastering vertical analysis can help you simplify your statement, make critical financial decisions, and understand the underlying composition and trends that drive your business’ financial performance. Vertical analysis evaluates financial statements that will help you simplify a document containing complex numbers and figures.

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TaxConnex

JULY 20, 2023

Maintaining current, valid exemption certificates is critical in managing your overall sales tax risk. Under audit, an otherwise exempt sale will be deemed taxable without such documentation from a customer – and just a few missing certificates can result in large penalties and interest. Properly documenting exempt sales is a hassle and a pain, but it matters.

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Going Concern

JULY 3, 2023

We had to go way back in the archive for this image. In a LinkedIn post on Friday , Becker superinstructor and the man single-handedly propping up the coffee shop industry Peter Olinto announced that he is leaving Becker. “I am NOT RETIRING!!” he said in a follow-up comment. He writes: Hello LinkedIn connections and current/former students.

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BurklandAssociates

JULY 6, 2023

Essential onboarding activities should be concentrated in the first month and quarter, and gradually taper off over the next twelve months. The post Employee Onboarding Roadmap for Startups appeared first on Burkland.

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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 technology to drive productivity and cost savings. So, how do you make the case for automation within your organization?

AP Automation

Accounting Today

JULY 6, 2023

The firm reports a substantial revenue increase to $2.82 billion as it transitions from a partnership to a professional service corporation.

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RogerRossmeisl

JULY 16, 2023

High-income taxpayers face a regular income tax rate of 35% or 37%. And they may also have to pay a 3.8% net investment income tax (NIIT) that’s imposed in addition to regular income tax. Fortunately, there are some ways you may be able to reduce its impact. Affected taxpayers The NIIT applies to you only if modified adjusted gross income (MAGI) exceeds: $250,000 for married taxpayers filing jointly and surviving spouses, $125,000 for married taxpayers filing separately, $200,000 for unmarried t

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income tax Tax CPA 154

Acterys

JULY 10, 2023

If the term “AI” catches your eye, it’s highly likely that ChatGPT comes to mind. And you would be absolutely correct in making that association. The launch of ChatGPT has taken the world by storm. Its success has kickstarted an AI race that has compelled almost every company to embed artificial intelligence and machine learning algorithms into their software architecture to mirror the same level of agility and productivity.

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TaxConnex

JULY 18, 2023

We hear a lot about nexus and various thresholds but not as much as about tax situs. The situs is the location in which a taxing event occurs. It’s easy to determine when the entire transaction occurs at the point-of-sale but is more difficult when the transaction involves numerous sites. In direct retail, for instance, situs can influence sales tax obligations depending on where the tangible personal property is shipped from in origin states or where it’s shipped to in destination states (learn

Sales 130

Sales Tax Washington Retail 130

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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