Sat.Jul 02, 2022 - Fri.Jul 08, 2022

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10 midyear tax planning moves

ThomsonReuters

Once you’ve had a chance to catch your breath following the spring busy season, it’s time to remind your clients that tax planning is where you can really add value. In addition to the usual midyear planning ideas, possible tax law changes must be considered as you recommend ways to improve your clients’ cash flow by saving (or at least deferring) taxes.

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How to solve your firm’s staffing crisis

Accounting Today

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How to Increase Profit Margins Through Virtual CFO Services

IgniteSpot

What are virtual CFO services? A virtual CFO does everything an in-house chief financial officer does, either part-time or on contract. These pros are typically a more accessible option for small businesses that maintain a low overhead. That’s because the alternative—an in-house CFO—is usually expensive.

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Blog: 6 things to know about sales tax in Canada

TaxConnex

Can U.S. companies sell profitably to the north? Sure, if statistics are any indication Canada is the 10th-largest eCommerce market in the world estimated at 35 billion USD last year. Sounds enticing. What about the sales tax obligations? Our neighbors to the north share several similarities with the United States when it comes to sales tax – but there are key differences.

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

Speaker: Amanda Adams, Fractional CFO, CPA

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Amanda Adams, 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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Legal Protections for Franchise Dealers Against Direct Manufacturer Sales

RogerRossmeisl

As posted to CBT News on 6/14/22 (Click Image to View Clip – Run Time: 18 min, 46 sec) Automakers have been making some unprecedented moves with regards to electric vehicles. so much so that many franchise dealers are becoming concerned about the future of their businesses. In this clip, automotive attorney Len Bellavia sits down virtually with Jim Fitzpatrick on CBT News’ “Inside Automotive” to discuss recent factory announcements as well well as his perspective on the f

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A Deep Tech VC on Market Timing, Female Leadership & Diversity

BurklandAssociates

Not too long ago, companies in deep tech and healthcare were often overlooked for funding in favor of companies focused on consumer products and business innovation. Lu Zhang, Founder & Read More. The post A Deep Tech VC on Market Timing, Female Leadership & Diversity appeared first on Burkland.

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Blog: Sales tax post-Wayfair: Costly for remote sellers, a cash cow for states

TaxConnex

If it feels to you like the whole economic nexus and sales tax landscape is one-sided, the U.S. Government Accountability Office and many small businesses seem to agree. A GAO report states that all states with a statewide sales tax and D.C. adopted remote sales tax laws covering online sellers in the wake of 2018’s Supreme Court Wayfair decision – and due to those adoptions, 33 states reported $23 billion in remote sales tax revenue in 2021.

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Tesla Model Y 4680 Structural Battery Pack Analysis

RogerRossmeisl

As posted to the Munro Live YouTube Channel on 7/5/2022 (Run Time 17 min, 23 sec) The team at Munro & Associates just dropped the structural battery pack (with 4680 cells) out of their brand new Texas-made Tesla Model Y. What they found is some that they’ve never seen. ever. The seats, console, carpet, etc. are mounted to the structural battery pack which can be removed in one assembly from the bottom of the car.

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Some Changes Are Not Always Better

Withum

I read once that the shark hasn’t evolved in tens of millions of years. At some point, it reached perfection in its swimming and eating skills, so it had no need to change. On July 4 th, we had for dinner hot dogs with sauerkraut, French fried potatoes, Heinz Vegetarian Baked Beans and the usual condiments. That morning I had a bowl of Rice Krispies with a cut-up peach.

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New Hires Are Making Absolutely Wild Demands Like Decent Salaries and Remote Work, Says Guy

Going Concern

Fresh off the ole tweet machine today we have this: New hires in accounting with 0 exp are demanding: – $80k-$100k. – Remote work. – 30 hours a week. – Client contact / advisory roles. This is unsustainable. What does the future of U.S. talent strategy look like? — Brandon Hall (@bhallcpa) July 8, 2022. Discuss. And don’t bully Brandon, he agrees new hires are grossly underpaid, underappreciated, and overworked. “Firms can’t pay new grads $100k unless th

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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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Your small business tax time questions answered

Xero

This is a guest post by accountant Daniel Hardy of Xero Platinum Partner firm Caveo Partners. Recently, Caveo Partners was named the best boutique firm of the year at the Australian Accounting Awards. . With a new financial year upon us, you might be thinking, what’s next for my small business? In fact, you’ll likely have all kinds of thoughts about where you’re at and where you’re headed next.

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Clockwork – A July 2022 Analytics/Reporting App

Intuitive Accountant

Along with reporting apps, we're looking at apps that perform financial metrics and business analytical forecasting. See why Clockwork is an easy to use app to predict, manage and plan your business finances.

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How to Simplify Your Accounting in a Business Acquisition

Anders CPA

Acquiring a company can come with many twists and turns to navigate. One of those being the accounting involved in combining businesses. To help simplify purchase accounting for business combinations involving private companies, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-18 back in December 2014.

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The Talent Crunch is So Bad Firms You’ve Never Heard of Are Offering $7000 Referral Bonuses

Going Concern

LaPorte who? Well now you’ve heard of them. From New Orleans City Business : “Just like every other company and industry, we have felt the effects of the ‘Great Resignation,’” said Patty Paz, chief operating officer at LaPorte CPAs & Business Advisors. “We have worked hard over the last two years to put in place several initiatives to even out our losses and gains.”.

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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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3 Withum Partners Named to NJBIZ 2022 Accounting Power 50 for Second Consecutive Year

Withum

Withum is proud to announce that three Partners, including Managing Partner and CEO Bill Hagaman , were named to the 2022 Edition of NJBIZ ’s Accounting Power 50 List. In the Number 6 spot , Bill Hagaman was praised for his longtime leadership at the Firm and his success in its growth. Additionally, the profile expands on Bill’s efforts in fostering an inclusive workplace for Withum teammates, including the Firm’s placement on lists like the Human Rights Campaign’s Corporate Equality Index and D

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Build a Tech Stack For Business In the Digital Age

Intuitive Accountant

Although no two businesses operate in exactly the same way, several applications will benefit most accounting firms - Payroll, Document management, Payments, Billing or invoicing Expense management

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IRS Reminds Employers of Penalty Relief Related to Claims for Employee Retention Credit

Dent Moses

A couple of weeks ago we covered the IRS backlog of amended payroll tax returns (941X) for employee retention credits. Now, the Treasury and IRS have responded to requests from taxpayers for relief from penalties with IR-2022-89. Why? Because most taxpayers were apprehensive of reporting the ERC refunds as income (reduction of wages) for 2020 or 2021 when they had no idea when or if they would receive the refunds.

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Winning and keeping lifelong client friendships

Reckon

Customer loyalty is critical to most small businesses. We all know it’s far more costly to attract new clients than to hold onto an existing one. But did you also know that you only have to increase your retention rates by 5% to boost your profits by 95%? Accredited Reckon partner and business owner, Sylvia Robb, says securing unwavering customers comes down to staying at the forefront of technology and fostering true friendships.

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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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Bill Bradshaw Named to ROI-NJ’s List of Most Influential DEI Leaders in 2022

Withum

Bill Bradshaw , Director of Inclusion and Diversity at Withum, was named in the New Jersey publication ROI-NJ as a top DEI leader in the state. Since joining the Withum team as the first Director of Inclusion and Diversity, Bill spearheaded initiatives that further established Withum’s commitment to fostering authenticity, transparency and engagement to uphold three pillars of inclusion and diversity; workforce, workplace, marketplace.

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How to Build a Culture of Precision

Intuitive Accountant

Turning data into actionable insights requires a technological solution that can provide a single source of truth. Jedox CEO Florian Winterstein explains.

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Elements Effective Accounting Workflow Management Systems | Canopy

Canopy Accounting

Is your accounting firm intentional about process and workflow? If the answer is no, it’s only a matter of time until processes start breaking down. Without a well-defined workflow management system and the appropriate processes in place, it doesn’t take much for things to fall apart—it could be a seasoned employee leaving and taking legacy knowledge with them, or restructuring your file organization system.

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Compensation Watch ’22: Does the New Equation Add Up to Better Raises For PwC Employees?

Going Concern

Now that raises have been doled out at Deloitte , next up is PwC. This is the first compensation cycle in the era of the New Equation, which is just a fancy way for marketing purposes of saying that PwC has a client-first mentality, and the firm likes to throw around the word “trust” many, many times when it tries to explain why the work it does for clients is more important now than it was 12 to 14 months ago.

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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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CalCPA BUZZ: Apply for the CalCPA Leadership Institute

CalCPA

Application Period Open: CalCPA Leadership Institute Strong leaders in strategic positions are key to CalCPA’s continued success. CalCPA Leadership Institute is a five-day. The post CalCPA BUZZ: Apply for the CalCPA Leadership Institute appeared first on Hot Topics.

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Record Keeping in the New Landscape

Intuitive Accountant

While the pandemic's worst days may appear to be over, we still live in a different world. DOCUDavit Solution's Sid Soil examines how everything continues to change for legal record keeping.

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What should you cover in a mid-year review?

Basis 365

Now that we are halfway through 2022, it is time to assess your business. Business owners can use mid-year reviews to evaluate their business and adjust to reach their goals. A reality check can be a great way to improve the performance of your business over the second half. It takes time and dedication to conduct a valuable assessment. Make sure you have time to prepare for your evaluation.

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“Would You Like to Round up for Charity?” 6 Facts to Know About Checkout Donations 

Patriot Software

You’re at the checkout counter, wallet in hand, preparing to pay for your purchase. But before you can, the cashier asks if you’d like to round up or make a donation for charity. Sound familiar? If so, you’re part of the millions of consumers hit with a request for checkout donations. And if your business […] READ MORE.

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Solve Your Firm's 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.

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Introducing our Xerocon London event partners

Xero

Xerocon London is a great opportunity to hear the latest news and updates from the Xero community and get inspired by some fantastic speakers. It’s also a chance to find out more about some of the powerful apps, tools and services from across the accounting and small business industries. This year more than 50 cutting edge app partners from the Xero App Store will be exhibiting at Xerocon.

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Reach – A July 2022 Analytics/Reporting App

Intuitive Accountant

We are rolling out another reporting app in this month's series by examining Reach Reporting, which works with both QBO and QuickBooks Desktop, as well as several other data sources.

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Gusto raising prices for all customers of its payroll service, starting July 11

Basis 365

Gusto is increasing the base entry price of its payroll service for all existing customers, starting July 11. This step will finally move everyone to the uniform pricing model that the company started rolling out last year. Gusto's monthly base price now starts at $40 plus $6 per person, increasing from the previous rate of $39 plus $6 per person. The new lineup of monthly plans is more streamlined than Gusto's current lineup, allowing for more robust features for more complex needs.

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NetSuite Automation Could Be What You Need To Grow

AccountingDepartment

Implementing a strong ERP system like that of NetSuite lays the groundwork for companies to further their automation capabilities, efficiencies, and more.

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It Takes Two to Tango

With automation, you’ll reduce errors and save valuable time, allowing you to focus on what really matters: strategic analysis and insightful decision-making. Picture accurate financial reports ready at your fingertips, giving you the confidence to tackle business challenges head-on. Embracing automation not only boosts productivity but also elevates your role from number cruncher to closing rockstar.