Sat.Oct 22, 2022 - Fri.Oct 28, 2022

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Tricky items for sales tax (Part 3)

TaxConnex

Our Halloween-month look at tricky items concludes with a natural: candy. Consumers are expected to spend more than $3.1 billion on candy this Halloween. (Did you know a kid would have to play full-court basketball for more than 14 straight hours to burn off all the calories in a typical Halloween candy haul?). Remember when you were a kid and you thought candy was food?

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9 Fun Halloween Costume Ideas for Accountants in 2022 | Canopy

Canopy Accounting

Need the perfect costume for your office Halloween party? Don’t worry, we’ve got you covered. If it’s for a work party, it could be fun to show up dressed in an accounting-themed costume.

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Know Your Customer: Who Are You Really Doing Business With?

Patriot Software

Take a step back and think about this: How well do you really know your customers? If you’re in a business that involves money, such as a bank or insurance agency, it can pay off to do your due diligence when it comes to your customers. The process of knowing your customer and verifying your […] READ MORE.

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But Who’s Counting? Episode 14: What Not-for-Profits Should Know Before Accepting Digital Assets as Donations

Anders CPA

Although some of the hype around cryptocurrencies has leveled over the last year, it’s clear that digital assets are here to stay, and the not-for-profit industry should understand how this impacts them. In this episode of But Who’s Counting?, David E. Hartley discusses the possible future of crypto in not-for-profit organizations with Jeanne M. Dee , audit partner and leader of the Anders Not-for-Profit team, including the following highlights: The current accounting rules regarding crypto and

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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

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.

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E-File vs. Paper File: The Advantages and Disadvantages You Must Consider

Patriot Software

In this digital era, it may seem surprising that there is an option to file a paper tax return. But before you kick the idea of paper filing to the curb, consider the advantages and disadvantages of e-File vs. paper file below. E-File vs. paper file E-Filing, or electronic filing, is the process of submitting […] READ MORE.

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Don’t Let Tax ID Thieves Steal Your Refund

RogerRossmeisl

Any form of identity theft can be costly, unsettling, and take months — sometimes years — to fully recover from and repair. But tax-related identity theft can be particularly disturbing because it involves the IRS, about which many people already harbor suspicion and anxiety. Although the IRS has taken significant steps in recent years to help minimize the occurrence of tax-related identity theft, this type of fraud continues to occur.

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Avoiding Layoffs: Alternatives to Workplace Reductions

GrowthForceBlog

11 min read. In September 2022, the U.S. economy added 263,000 jobs, and the unemployment rate shrank to 3.5% [1]. These optimistic numbers have made some economists hesitate to call the country's economic situation a recession. Key Takeaways. Why Layoffs Are a Savvy Business Leader's Last Resort: Although letting go of employees is a simple way to save money, this strategy also comes with hidden costs….

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Art of Accounting: A talk with two 'Sons of CPAs'

Accounting Today

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The Pros and Cons of Outsourcing in 2023

GrowthForceBlog

7 min read. The rise of modern technology and cloud computing has streamlined and simplified the process of business outsourcing. Key Takeaways. Business Outsourcing Pros and Cons in 2023: Outsourcing comes with both potential advantages and potential disadvantages, and whether your business ends up benefiting or…. Best Practices for Business Leaders Considering B2B Outsourcing Services: In order to maintain control and preserve the quality of your company's unique value proposition, it's likely

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The Future of the Dealer Franchise

RogerRossmeisl

As posted to the Bellavia Blatt YouTube Channel on 9/30/22 (Run Time: 17 min, 52 sec) With automakers speeding toward electrification, many are more than hinting at a new distribution model for those electrified vehicles involving customers ordering vehicles online. Are dealers at risk of being cut out of the sales process? In this clip, automotive attorney Len Bellavia sits down virtually with Ted Ings at the “Fixed Ops Roundtable” to discuss the future of the franchised dealership

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

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.

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FTB Audit Representation by California State Taxing Authority

MyIRSRelief

In case you were not aware of what the FTB is, it is the California board that is responsible for collecting all of the personal income tax and business franchise taxes that are assessed every year for people and companies in California. Formed in 1950, the board replaced the original Franchise Tax Commissioner that was created by the original California Constitution.

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IRS hires 4,000 employees to help with next tax season

Accounting Today

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How to Build Monthly & Yearly Budget & Forecasts with Power BI

Acterys

If you’re a finance manager or CFO, you know how important it is to have a clear and accurate picture of your company’s budget. After all, the budget is what allows you to make key decisions about where to allocate your resources and how to maximize their utilization. While there are several specialized solutions available in the market, adding market-leading planning capabilities to widely used productivity solutions.

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What was new in September for state sales and use taxes

TaxConnex

There’s always something changing in the world of tax, especially sales tax. Here’s a review of some of the recent changes and updates. Inflation bites. The Urban Institute told news outlets that 25 states recently reported year-over-year declines in sales tax receipts, a jump of more than a third in just a month. Less consumer spending amid persistently higher prices apparently triggered a decline in revenues.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

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.

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Cyber Hygiene Best Practices to Implement Now

Withum

Cyber hygiene, or cybersecurity hygiene, is a term used for observance of leading technology security practices, and it generally applies to businesses and individuals alike. As with most facets of business, there is a trade-off between cost and benefit regarding security measures. In this post, we’ll share cyber hygiene best practices organizations should routinely perform to maintain the health and security of users, devices, networks and data.

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IRS to require speech recognition to reach Practitioner Priority Service

Accounting Today

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Some High Level Folks Have Abruptly Left BDO and No One Seems to Know Why

Going Concern

People who know know there’s something happening at BDO USA. We are working on getting to the bottom of a few things that we can’t quite share with you until we have more information but in the meantime, we need to talk about how leadership is apparently getting axed — or leaving? — and no one knows why. Well, someone knows why.

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What you can expect from this year’s Xero Singapore Roadshow

Xero

With just two weeks to go ’til Xero Singapore Roadshow, we are buzzing with all that we have in-store for our accounting and bookkeeping community. Here are some things you can expect. Benchmark your practice. Opening the day, Managing Director of Xero Asia, Koren Wines will unveil some topline findings from our annual Singapore State of Accounting Industry Report.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

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.

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Why You Need To Keep Inventory Standard Costs Current During Inflationary Periods

Withum

According to a CNBC survey of businesses in 2022, 74% of businesses are dealing with supply cost increases. It is not uncommon for businesses to utilize standard costing inventory in their internal ERP system and update the standard cost for products on an annual basis. Standard costing is based on the expected costs of material, labor and overhead (typically established at the inception of a year) instead of the current actual costs incurred months later.

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Caterpillar's 15-year tax saga ends with $740M IRS settlement

Accounting Today

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EY Israel Has Rejected the Split

Going Concern

Financial Times is reporting that EY Israel is joining EY China in rejecting the proposed split of audit and consulting services. “From our point of view in the Israel business, the split will not create benefits,” said EY Israel Managing Partner Doron Sharabany to FT. EY China’s decision was based on regulatory hurdles that could not be overcome, not that anyone over there thought cashing out millions of dollars would not be beneficial to those doing the cashing out.

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Debra Kilsheimer on Billing, New Tech Selections and Running a Successful Firm

Intuitive Accountant

On the latest episode of Accounting Insiders, the owner of Behind the Scenes Financial Services and Top 100 ProAdvisor joins Gary DeHart to talk shop—and more. Check out the interview on the Insightful Accountant YouTube page.

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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

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.

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Fire Prevention Awareness With Jon Kessler

Withum

Explore Other Episodes. #CivicWarriors #WithumImpact. The post Fire Prevention Awareness With Jon Kessler appeared first on Withum.

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IRS and AICPA call for crackdown on bogus Employee Retention Credit claims

Accounting Today

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Another Deloitte Survey Says ‘Purpose’ is Just as Important as Pay (Yeah Right)

Going Concern

Deloitte pushed out some survey results this week that confirm what leaders have been telling themselves ever since the first Millennials entered the workplace at the turn of the century: ‘purpose’ is just as important as pay. Sure, guys. Sure. A Deloitte survey of over 4,000 respondents* found that over half of employees (62%) consider an organisation’s purpose before deciding to join, with over a third (36%) saying that an organisation’s purpose was just as important as their salar

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How Much Do You Know About 501(c)(4) Social Welfare Organizations?

Patriot Software

When you think of nonprofits with tax-exempt status, your mind might go straight to charitable or religious organizations. However, these types of groups aren’t your only options for becoming a tax-exempt nonprofit. If you own a social welfare organization, you can apply for 501(c)(4) status with the IRS. What is 501(c)(4) status? 501(c)(4) status refers […] READ MORE.

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AP Automation: The Competitive Advantage Your Business Needs

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?

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Privacy

Acterys

Introduction. This notice applies to all Power BI visuals that we provide. For the purpose of this notice, we’ll just call them our ‘services’. When we say ‘personal data’ we mean identifiable information about you, like your name, email, address, telephone number, bank account details, payment information, support queries, community comments and so on.

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Controllership is being transformed, but not fast enough

Accounting Today

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EY Reminds Us That Audits Provide ‘Reasonable Assurance,’ Not a Guarantee That Billions of Dollars Aren’t Hidden From the Balance Sheet

Going Concern

The NMC Health collapse of 2020 is still haunting EY UK, this time in London High Court as NMC administrators accuse the firm of failing in their duties and not noticing “one of the biggest frauds ever alleged at a FTSE 100 company.” The administrators, whose job it is to find some funds to repay NMC creditors, say EY auditors did not detect that NMC’s accounts were fraudulently misstated to the tune of a couple billion dollars.

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What Are the Types of Revenue Small Business Owners Need to Know?

Patriot Software

To keep business operations running smoothly, you need incoming money. When you make a sale or earn money from another activity, you need to record it. Learn how to record the types of revenue in different accounts. That way, you can keep your accounting books updated, organized, and legal. What is revenue? Revenue, or sales, […] 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.