Sat.Dec 03, 2022 - Fri.Dec 09, 2022

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Beware of this trap if you use social media as an accountant

Mark Lee

Accountants may not always be who they say they are online. If ever accountants needed proof that different social media platforms attract different people I think we now have it. A recent report in The Times revealed something quite shocking about the hashtag accountants. On reading this I then referenced the report on Linkedin and learned that I am certainly not alone in my ignorance.

Account 40
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Client Accounting Services: The Complete Guide

AccountingDepartment

When business owners are first starting out, they usually do not have the time or resources to keep track of their finances. This is where client accounting services come in. Client accounting services can help companies manage their finances, keep track of their spending, and plan for the future.

Account 77
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Who Pays Payroll Taxes? (+ Cheatsheet)

Patriot Software

Whenever you cut a check for an employee, the employee isn’t the only one receiving money. You must withhold payroll taxes from employee wages and remit them to the proper agencies. Depending on the payroll tax, you must match employee contributions. But, not all payroll taxes are created equally. So, who pays payroll taxes? Is […] READ MORE.

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What’s Your Payroll Tax Deposit Schedule? If You’re Not Sure, Read This

Patriot Software

When you have employees, your responsibility isn’t just to pay them. You also need to pay the IRS their share, too. How often you pay the IRS depends on your payroll tax deposit schedule. But, not all employers follow the same schedule. Your schedule, and thus payroll tax deposit due dates, depends on the type […] READ MORE.

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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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Tax pros blast IRS's 'nearly nonexistent' priority phone service

Accounting Today

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Managing Transactional Taxes as Your Business Grows Globally

TaxConnex

You may think that selling outside the U.S. spares you the complexities and headaches of sales tax thresholds. And you’d be right – except that in many countries you’d instead run into value-added tax (VAT) on transactions. VAT is applied at each stage of the supply chain and is recoverable by most businesses and, similar to American jurisdictions’ sales tax, rates are generally applied at a country level with exceptions on certain products.

Tax 246

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Computer Software Costs: How Does Your Business Deduct Them?

RogerRossmeisl

These days, most businesses buy or lease computer software to use in their operations. Or perhaps your business develops computer software to use in your products or services or sells or leases software to others. In any of these situations, you should be aware of the complex rules that determine the tax treatment of the expenses of buying, leasing or developing computer software.

CPA 200
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Tax Preparation Checklist for Startups

BurklandAssociates

Use this tax preparation checklist for startups to collect the information and documents your tax professional will need to prepare your 2022 taxes. The post Tax Preparation Checklist for Startups appeared first on Burkland.

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PwC Declares a Poaching War on EY

Going Concern

As EY continues to hammer out the details of the audit and consulting split, PwC has set its sights on adding EY partners to The New Equation. Lots of EY partners. In October, PwC Global Chairman and 2012 Going Concern Hottest Accounting Firm Leader winner Bob Moritz told the Financial Times in no uncertain terms that his firm would be stealing as many senior managers as they can get from EY, an extra disrespectful move given the critical talent shortage at that level.

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A call for delaying the new 1099-K threshold

Accounting Today

Tax 124
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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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Is Your Business Closing? Here are your Final Tax Responsibilities

RogerRossmeisl

Businesses shut down for many reasons. Some of the reasons that businesses shutter their doors: An owner retirement, A lease expiration, Staffing shortages, Partner conflicts, and Increased supply costs. If you’ve decided to close your business, we’re here to assist you in any way we can, including taking care of the various tax obligations that must be met.

Tax 208
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So, You Think Accountants Are Boring?

Intuitive Accountant

FloQast's award-winning workplace comedy series returns for Season 2 on Dec. 6. Check out the new trailer here.

Account 122
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Yale Grad and Grant Thornton Lawyer Argues The Case For an Undergraduate Accounting Program at Yale

Going Concern

Alexandra Newman (Yale University, B.A. 2005 with Distinction in Philosophy; Northwestern University School of Law, J.D. 2010) has penned an article for Yale Daily News that argues — quite well — why Yale needs an accounting program. Any time the discussion of Ivies and accounting comes up, people who aren’t accounting graduates like to remind the discussers that accounting is a trade (like these Quora users who say Harvard doesn’t offer accounting for the same reason the

Account 119
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IRS offers guidance on wage and apprenticeship rules for green tax credits

Accounting Today

Tax 116
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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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Going Concern Value, Liquidation Value or Somewhere in Between

RogerRossmeisl

When valuing a business, it’s important to clearly identify the appropriate premise of value. There are two basic options: going concern value or liquidation value. In general, liquidation value sets the floor for a company’s value. When a company is “worth more dead than alive” — such as in a Chapter 7 bankruptcy filing — liquidation value is typically the appropriate premise of value.

Michigan 206
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Crypto 101 for Accountants and Bookkeepers

Intuitive Accountant

Acuity founder Matthew May and Crypto Practice Manager Anthony Zepeda offer everything today's accountants and bookkeepers need to know about cryptocurrency. Signup for the webinar here.

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Here’s What Happens When You Hire AI to Do Accounting

Going Concern

For a good decade we’ve heard about the robots that are going to render accountants obsolete, now we finally get a peek at the glorious technology that will transform the industry as we know it. You should prepare yourself, this advanced technology will have you on the University of Phoenix website ASAP to get a jump on the Master’s of Tik Tok degree you’ll need if you have any hope of being employed in the next five years.

Account 119
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Talent attraction and succession planning seen as top risks in 2023

Accounting Today

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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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How Savings Bonds are Taxed

RogerRossmeisl

Many people have savings bonds that were purchased many years ago. Perhaps they were given to your children as gifts or maybe you bought them yourself. You may wonder how the interest you earn is taxed. And if they reach final maturity, what action do you need to take to ensure there’s no loss of interest or unanticipated tax consequences? Interest deferral Series EE Bonds dated May 2005 and after earn a fixed rate of interest.

Tax 163
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What Do All Those Employee Benefit Acronyms Stand For? (Part 1 of 3)

ThomsonReuters

QUESTION: Everyone in the employee benefits field uses acronyms like CDHC, EAP, and VEBA. What do these and other employee benefit acronyms stand for? ANSWER: Here’s an explanatory list of common acronyms primarily used in our Cafeteria Plans, Consumer-Driven Health Care, ERISA Compliance, Self-Insured Health Plans, and Fringe Benefits manuals. (Next week’s Question of the Week will address acronyms primarily used in our COBRA, HIPAA, and Group Health Plan Mandates manuals, and the following w

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Lonely Workaholics at PwC UK Will Have to Find Some Other Place to Go For Christmas

Going Concern

Last year, PwC UK chairman Kevin Ellis wrote a lovely advertisement article in The Telegraph letting his people know that if they have literally nothing better to do, PwC employees can spend Christmas at the office. He framed it as a kindness for those who may be lonely — or the opposite, ready to beat the s**t out of their roommates after being locked inside with them for so long — and the firm was not going to ask “what the hell are you doing here on Christmas??

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International tax authorities target sales tax scammers

Accounting Today

Sales 111
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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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Don’t Fall for Invoice Fraud Schemes

RogerRossmeisl

Middle-market businesses lose an average of almost $300,000 annually to invoice fraud, according to a recent survey by software company Medius and researcher Censuswide. Invoice fraud can be challenging to spot — and even more difficult to recover from — but your company can take steps to prevent it from happening. Common types The most common type of invoice fraud is fraudulent billing.

CPA 130
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Hamish Cooke and Ben Richmond on Xero's Advisory Services Offerings

Intuitive Accountant

Check out another episode of Accounting Insiders, with Xero's Hamish Cooke and Ben Richmond providing a snapshot of what the online accounting software leader has coming down the pipeline.

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How Are Public Accounting Salaries Stacking Up For 2023? (Part 4, Hays U.S.)

Going Concern

The latest group of fortune tellers gazing into crystal balls to figure out what accounting salaries will be like next year are from the recruitment firm Hays U.S. In its 2023 salary guide , Hays provides salary ranges for accounting and finance jobs in nine states, plus the District of Columbia. For this article, we selected four positions in audit and four in tax.

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CPAs, remote productivity and the move to contract workers

Accounting Today

cpas 111
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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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Intuit QuickBooks Unveils New Innovations that Support Accountants and Drive Business Success at QuickBooks Connect

SchoolofBookkeeping

We are very excited to be at QuickBooks Connect this year. It has been great reconnecting with our colleagues. This is the first in-person event in over three years due to Covid-19. This event is one that should not be missed each year. Learn about the new innovations for accounting professionals announced by Intuit this morning. Intuit QuickBooks Unveils New Innovations that Support Accountants and Drive Business Success at QuickBooks Connect.

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ArtisTrade Live on Lockstep

Intuitive Accountant

Connected accounting pioneer provides unprecedented access to mid-market ERP systems.

Account 105
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Sounds Like the EY Split is Going Forward Whether Partners Want It to Or Not

Going Concern

EY Global Managing Partner Andy Baldwin was on a Reuters Breakingviews podcast recently and in the interview — besides suggesting that other Big 4 firms will follow EY’s lead toward a split despite these other firms saying they have no plans to do that — he made it sound like the split is happening one way or another. Even if it doesn’t actually happen.

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Audit firms turning more to outside specialists for help

Accounting Today

audit 105
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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.