Sat.Oct 08, 2022 - Fri.Oct 14, 2022

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Email Blunders That Cost Accountants Time and Money

Lockstep

Email is a necessary evil for accounting teams. It’s the primary way we communicate with our colleagues, vendors, and customers. But it can also be a huge source of frustration – especially when things go wrong. In this three-part blog series, we’ll take a look at some of the biggest email blunders that can cost accountants time and money.

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Happily Ever After - Achieving a Fairy Tale Month-End Close | CFO.University

Accountant Advocate Submitted Articles

A Professional Community of Member-Scholars, Companies and Trusted Advisors committed to the education and development of Chief Financial Officers.

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2 Big Reasons Why You’re Having Trouble Scaling Advisory Services

Ryan Lazanis

With the growing number of firms entering the virtual CFO and advisory space, there are two important things that you need to know to prevent being in a bottleneck position and improve your chances of scaling your firm. Listen Below. 0:32 – There are two reasons why many have trouble scaling their virtual CFO and advisory services. 0:54 – W e want to create a model that can scale, and which can operate systematically, in a fashion where no bottlenecks exist. 1:08 – The first bi

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Accountants, remove these 5 things from your to-do list

Accounting Today

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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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What Is Attendance Management?

Patriot Software

Employees come to work, do their jobs, and then go home. Day after day. But, sometimes employees call off sick or come in late. They might ask you to rearrange their schedules to accommodate their personal lives. How can you possibly keep track of all the coming and going? You need an attendance management system […] READ MORE.

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Are you a new Certified Management Accountant? Avoid these 4 mistakes at all costs

Accounting Today

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Tricky items for sales tax

TaxConnex

We’re fond of saying that nothing’s ever easy in sales tax. And here we’ll kick off our run toward Halloween with a look at one of the newest and trickiest areas of sales tax: electric vehicle chargers and charging. This new line of business raises a few sales tax questions, chiefly regarding the electricity flowing into the vehicles. Though states like Kentucky are considering or already have additional fees for owners of electric cars, most states are still fuzzy on whether the customer or the

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How CPAs can communicate with clients in a digital world

Accounting Today

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Tips for Relocating Your Small Business

VetCPA

Is your business thinking of moving to a new location? No need to worry, we got you covered with some tips for the journey! Why are you relocating? It’s important that you first consider why it is necessary to change your location. If you’re certain about the move, you should be able to fully answer the following questions. Are you moving for a new market to give you more opportunity than your previous one?

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The Importance of Investor Updates

BurklandAssociates

Many founders don’t understand the importance of regular updates and communication with their investors. Once they secure their funding, the focus moves to their business – which makes sense. However, Read More. The post The Importance of Investor Updates appeared first on Burkland.

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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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In telecom case, fault is with the company – not the third-party provider

TaxConnex

A proposed penalty from the Federal Communication Commission shows the danger of a hire-and-forget attitude toward a third-party for tax compliance. The FCC has proposed a $153,000 penalty against a Florida-based telecom provider that had outsourced its compliance tasks. The FCC alleges that the company failed: to cooperate with the revenue reporting verification functions (i.e., “contributor audits”) by the Universal Service Administrative Company?

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Young Accountant Narrowly Misses the Tragedy of Working For Grant Thornton

Going Concern

Someone on r/accounting posted this over the weekend and I thought it worth sharing because it reminds everyone of two very important facts when it comes to recruiting: 1) never bank on a verbal offer and 2) don’t work for Grant Thornton. Oops wait, I meant 2) if firms recruiting on campus engage in any kind of screwy behavior you should report it to your school’s accounting chair/director/benevolent overlord.

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IRS sending millions of letters on claiming tax benefits

Accounting Today

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Connecticut Paid Family Leave and What to Know

Patriot Software

Connecticut joined the paid family leave states when employers began handling Connecticut paid family leave contributions in 2021. Time has flown by and it’s now 2022. What does that mean? Employees in Connecticut can now apply for benefits from the state’s paid family leave program. Read on to learn about the new Connecticut paid family […] READ MORE.

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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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Ignition Launches Continuing Professional Development Course

Intuitive Accountant

The free, on-demand certification course provides accounting professionals with tools to enhance their client engagement and scale their business.

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How Are Public Accounting Salaries Stacking Up For 2023? (Part 2, Randstad)

Going Concern

Next up in our preview of accounting salaries for 2023 is the latest Finance & Accounting Salary Guide from staffing agency Randstad. Randstad, Robert Half, and Accounting Principals are probably the “big 3” when it comes to publishing accounting and finance salary prognostications for the coming year. We wrapped up analyzing Robert Half’s 2023 Accounting & Finance Salary Guide last week, and we’ll take a look at the new one from Accounting Principals later this week.

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NJCPA CEO Ralph Thomas to retire in June

Accounting Today

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Do Employers Have to Give Pay for Jury Duty Leave?

Patriot Software

When an employee is called to serve on a jury, it can be a strain on your business. You might need to adjust schedules to fill the employee’s absence. Product creation or services might be disrupted. When your employee is fulfilling their civic duty, your business doesn’t stop. But, when an employee is on jury […] READ MORE.

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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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Live from Sage Transform 2022 – Customer Awards

Intuitive Accountant

Murph reports on the companies recognized with the '2022 Customer Hero and Industry Success Awards.

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College Accounting Programs Are Taxpayer-Funded Training Programs for the Big 4 and Other Such Muckraking

Going Concern

Ed. note: the following is penned by Bob Jennings CPA, EA for his Taxspeaker.com newsletter. Bob has given us permission to reprint in full and we are enthusiastically doing so in the hopes it will spark much-needed conversation about one of the profession’s most significant issues: the Big 4 oligopoly. According to the SBA , small business generates about 44% of GDP in America and 2/3 of new jobs annually.

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Social Security benefits to rise 8.7% in 2023 for inflation

Accounting Today

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Do Employers Have to Pay Unemployment Taxes?

Patriot Software

As a small employer, you have all sorts of payroll taxes to worry about: income taxes, Medicare tax, and Social Security tax. But, what about unemployment taxes? Do employers have to pay unemployment taxes? Do employers have to pay unemployment taxes? In general, all employers have to pay unemployment taxes. Some exemptions exist, which are […] READ MORE.

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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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Anders Named a Top Privately Held Company in St. Louis

Anders CPA

Anders has been named to the St. Louis Business Journal’s list of Top 150 Privately Held Companies in St. Louis for the first time. Each year, the St. Louis Business Journal celebrates the largest and fastest-growing companies in our region. The Top 150 list features the top privately held local companies ranked in order by revenue. Coming in at #145, Anders is honored to make the list for the first time in 2022.

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Must Applicable Large Employers File ACA Information Returns Electronically?

ThomsonReuters

QUESTION: We added a large number of full-time employees in 2021 and became an applicable large employer (ALE) in 2022. We are preparing to file Forms 1094-C and 1095-C with the IRS in early 2023. Do we have to file the forms electronically? ANSWER: The filing method—paper or electronic—depends on the size of the ALE. As background, the Affordable Care (ACA) enacted Code § 4980H, which imposes employer shared responsibility penalties on ALEs that fail to offer full-time employees adequate empl

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IRS drafts changes to corporate reporting of uncertain tax positions

Accounting Today

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10 Tax Season Time Management Tips You Can Use

Intuitive Accountant

When the deadlines hit, it's good to know how to ease things down. To help you get in the groove, here are some reminders on how to better manage your time from Breadnbeyond's Andre Oentoro.

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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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Grant Thornton Achieves Dynamic Revenue Growth of 17% in 2022

Going Concern

The petals on the Purple Rose of Chicago were in full, fragrant bloom in 2022 as Grant Thornton posted revenue for its fiscal year ending July 31 of $2.3 billion , a nearly 17% increase over the $1.97 billion the firm brought in last year. 2022 was clearly one of the best years GT has had revenue-wise in quite a while, if not ever, as 2021 revenue grew just 2.6%, 2020 grew only 1% , 2019 grew 5.4% , and 2018 grew 3.4%.

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IRS Regulations Base Eligibility for ACA Premium Tax Credits on Affordability of Family Coverage; Related Guidance Allows Additional Election Changes

ThomsonReuters

Final Regulations: Affordability of Employer Coverage for Family Members of Employees, 26 CFR Part 1, 87 Fed. Reg. 61979 (Oct. 13, 2022); IRS Notice 2022-41 (Oct. 11, 2022). Regulations. Notice. The IRS has finalized regulations that change the eligibility standards for an Affordable Care Act (ACA) premium tax credit (PTC) by providing that, for taxable years beginning in 2023, affordability of employer-sponsored coverage for an employee’s family members is based on the employee’s cost to cover

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Crypto at fair value: Inside FASB's decision

Accounting Today

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Average Bookkeeper Salary in the United States

Snyder

As the title of the article is quite unambiguous, it might seem that mentioning a couple of numbers would suffice. But the job market today is much more complicated than stating some numbers if one wants to get some deep insight into the topic. . The average salary of any profession is influenced by a number of factors, so it’s logical to look into these variables.

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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.