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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2025 Payroll Calendar Templates (Biweekly, Semi-Monthly, and Monthly)

Use these handy calendar templates to stay on top of payroll in 2025! Download them today to share with your HR team or post for employees. Whether your company has biweekly, semi-monthly, or monthly pay periods, Paycor has you covered. Get your templates today!

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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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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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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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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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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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Avoiding Lease Accounting Pitfalls in 2025: Lessons Learned from Spreadsheet Errors

Speaker: Abdi Ali, Sr. Lease Accounting Consultant

Join this insightful webinar with industry expert Abdi Ali, who will discuss the challenges that can arise from managing lease accounting with spreadsheets! He will share real-world examples of errors, compliance issues, and risks that may be present within your spreadsheets. Learn how these tools, while useful, can sometimes lead to inefficiencies that affect your time, resources, and peace of mind.

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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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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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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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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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Back to Basics with Reconciliations

Join us in this webinar, where we share best practices on how to think about the reconciliation work each month, when best to do reconciliations, how they should be prepared, and some common pitfalls to avoid. Learning Objectives: This course objective is to understand how to properly prepare and review balance sheet reconciliations and its impact on the financial statements.

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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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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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Be Prepared – 2022 Year-End/Year-Round Tax Planning Guide

Dent Moses

Dent Moses is committed to helping you maximize your income through a variety of tax-saving strategies. We are sharing our 2022 Year-End/Year-Round Tax Planning Guide. . 2022 Year-End/Year-Round Tax Planning Guide. With the lingering impact of the global pandemic and the recent passage of the Inflation Reduction Act, there are a number of tax developments to consider for the current tax year.

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Guide to Pricing Accounting Services (Fixed & Value Pricing)

Ryan Lazanis

If you’re having trouble pricing accounting and bookkeeping services for your fixed-price mandates, you’re not the only one (and you’ve come to the right place). Customer expectations are changing, and they are now more insistent than ever on upfront pricing. This is pushing accountants like you to ditch hourly rates in favor of a new pricing strategy and method, which sometimes creates confusion about how to set your accounting services fees.

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Usage-Based Monetization Musts: A Roadmap for Sustainable Revenue Growth

Speaker: David Warren and Kevin O'Neill Stoll

Transitioning to a usage-based business model offers powerful growth opportunities but comes with unique challenges. How do you validate strategies, reduce risks, and ensure alignment with customer value? Join us for a deep dive into designing effective pilots that test the waters and drive success in usage-based revenue. Discover how to develop a pilot that captures real customer feedback, aligns internal teams with usage metrics, and rethinks sales incentives to prioritize lasting customer eng

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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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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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Canopy Wins G2’s Fall Implementation Award | Canopy

Canopy Accounting

Get your drum rolls out and start drumming: Canopy’s Practice Management software for accounting firms just won a G2 Fall 2022 badge for Most Implementable! If you’re wondering what this means or whether or not it’s a big deal, think of it this way: For human beings, it’s the Nobel Peace Prize. For dogs, it’s the Westminster Legend Trophy. For accounting practice management software, it’s undoubtedly a badge from G2 for Most Implementable.

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Must We Offer COBRA to Retiring Employees If They Remain Eligible for Coverage for 18 Months After Retirement?

ThomsonReuters

QUESTION: Our company’s group health plan for active employees also covers retirees for 18 months after retirement. While the company pays 100% of the premium for active employees, it pays only 60% of retiree coverage, with the retirees paying the other 40%. Must retiring employees who were covered under the health plan as active employees be offered COBRA coverage?

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Harness the Potential of Your Enterprise Knowledge

The first Market Momentum Index: AI and Unstructured Data Management, conducted by Deep Analysis with support from AIIM and M-Files, surveyed 500 enterprises across various industries to assess their readiness to employ AI. The results reveal that AI is already far more embedded into organizations' operations than previously realized. These findings and more insights have been brought to you in the "Market Momentum Index: AI and Unstructured Data Management.

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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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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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QuickBooks Contractor Payments

Intuitive Accountant

Pay your third-party contractors using direct deposit without QBO accounting using the new QuickBooks Contractor Payments. It even tracks and prepares your end-of-year 1099s.

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EOG Accounting ties business goals to positive impact to embrace the beauty of giving

Xero

It’s easy to get lost in the day-to-day clamour of our working lives. Targets, KPIs, deadlines – these are the things that keep many people awake at night, and often distract from the bigger picture. Which is to try to do some good on this planet before we leave it. . The team at EOG Accounting , a solely Xero practice based in North Wales, understands the need to meet business targets, but also to make a positive impact whenever possible. .

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Solve Your Firms Automation Complexities Once and For All

Speaker: Mark Stovel

When it comes to automating, many firms focus on finding the latest tech, believing that efficiency is something achieved through new tools. Yet true efficiency is achieved by delivering real value to clients, not merely by upgraded systems. Without a clear approach, no level of automation can overcome the complexities of serving every client’s needs.