Sat.Jul 09, 2022 - Fri.Jul 15, 2022

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What's new in 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. Colorado will begin imposing a 27-cent fee on every retail delivery made by motor vehicle to a destination in the state, beginning July 1. The fee will apply when at least one item is subject to sales or use tax and the delivery is mailed, shipped or delivered by motor vehicle.

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Do You Have to Pay Tax on Social Security Benefits?

RogerRossmeisl

Some people who begin claiming Social Security benefits are surprised to find out they’re taxed by the federal government on the amounts they receive. If you’re wondering whether you’ll be taxed on your Social Security benefits, the answer is: It depends. The taxation of Social Security benefits depends on your other income. If your income is high enough, between 50% and 85% of your benefits could be taxed.

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CPA Firms That Referred Clients to Alliantgroup Have Been Subpoenaed, Asked to Turn Over 11 Years of Client Data

Going Concern

On May 20 the Houston headquarters of R&D tax credit consulting firm Alliantgroup was raided by the IRS , in the weeks since we’ve had plenty of speculation about the whys and we’ve heard countless accounts from current and former Alliantgroup employees about the “evil, toxic, and emotionally damaging company” that employed them.

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How should small businesses balance artificial intelligence, automation and data privacy?

Xero

We recently held our fourth Xero Responsible Data Use Advisory Council meeting via Zoom with seven council members across four time zones to discuss the most important emerging trends around responsible data use for small businesses. How time has flown – we’ve nearly completed our first year of a council. The council includes myself, Samuel Burmeister of Tall Books (advisor), Laura Jackson of Popcorn Shed (business owner), Maribel Lopez of Lopez Research (analyst), Wyndi and Eli Tagi of WE Accou

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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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Online selling the subject of recent judgments

TaxConnex

Several recent court cases show how tricky the legal system can be for online sellers managing sales tax obligations. Lack of energy. The Washington Department of Revenue upheld a retail sales tax assessment on a taxpayer who failed to collect retail sales tax on sales to a renewable energy company. The taxpayer claimed to believe that that the energy company qualified for the exemption, but the statute provides that the purchaser must claim the exemption by requesting a refund for retail sales

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A more intelligent digital transformation for AP

Accounting Today

More Trending

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Clients Want Actionable Data, Not Impossible-to-Parse Spreadsheet Dumps

Going Concern

We all have that one friend whose door is always open to us. This person has been with you through all the ups and downs, and uneventful middle parts between. You trust this person because they’ve never let you down, their advice is always solid. What if clients thought of you as that friend? What if when something happens with your client’s business you are the first one they think of to call?

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15 Attributes of Top CEOs

Withum

This week’s Barron’s July 11, 2022 cover story is about the top two dozen CEOs. A criterion that has usually been used to identify the top CEOs was their company’s stock performance. With the stock market down this year, they needed to reach for other measures, and I think the following applies to most successful leaders. The article’s purpose was not to suggest stocks to invest in, but to identify key features of winning leaders.

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5 critical KPIs and why they matter

Accounting Today

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Introducing start and end times in Xero Me

Xero

We’re really excited to share that in the weeks ahead, we’re rolling out new functionality in the Xero Me mobile app that will let employees record their start, end and unpaid break times. This new feature will help you keep accurate payroll records and save time on manual processes such as chasing timesheets or reviewing information before doing payruns in Xero.

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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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Attn Firm Leaders: No One Wants to Work at Your Stupid, Ugly Office Park

Going Concern

Collaboration. Culture. Fancy new open offices. The occasional free sandwich. Firms continue their desperate attempts to lure people back into the office, not too aggressively though as they know if you push people too hard on remote work they will leave. To any firm leaders plotting your next “how can we get people back into the office” campaign who may be reading this, pay attention. r/accounting on the NYT article Lonely Last Days in the Suburban Office Park.

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Optimizing a Company Tech Stack

Intuitive Accountant

Accounting firms can help their clients improve company tech stacks with integrated SaaS solutions and build a tech stack of their own for greater automation, efficiency and growth. Here's what you need to know.

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IRS to test video visits with preparers to curb tax credit errors

Accounting Today

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Introducing an improved Xero status page experience

Xero

When the products and features you use aren’t working as they should, we know it’s really important to be able to access information about what’s happening and why quickly. We’ve recently made some changes to the way Xero’s status page works for that reason, to ensure the information you receive is more consistent, accurate and valuable. Now, when you access Xero’s status page, things will look a little different in both how the information is grouped, as well as the content of the update itself

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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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Working 60-70 Hours a Week is ‘Fine’ Says Underpaid Big 4 Auditor Skilled in the Art of Minimizing

Going Concern

Check out this Big 4 auditor recently profiled on eFinancialCareers. Blink twice if you need work-life balance, buddy. I’m an auditor for a Big Four firm. Audit jobs don’t always have a good reputation: they pay less than some other Big Four jobs and offer less chance of making partner. But this is fine because there are other advantages.

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How Accountants Can Leverage the Power of Automation

Intuitive Accountant

By leveraging emerging technologies, accountants are able to conduct more strategic planning, analysis and execution. Jedox CEO Florian Winterstein dives into the results.

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Tax reform had little impact on curbing CEO pay practices

Accounting Today

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Client Accounting Services: What is CAS in Accounting?

Snyder

The accounting industry has undergone some serious technical changes due to technological advancements but first and foremost due to a global pandemic. Accounting firms have been forced to drastically change working environments and the way they work, as well as reconsider the services they provide. This turbulent time led to the rise in demand for client accounting services (CAS) – something that has been around for a couple of decades, but is coming into full swing only 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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Exit Opportunities: Quit Auditing and Start Influencing

Going Concern

£3,000 ($3,600) a month. That’s how much Tanvi Shah made in audit before she decided to quit Big 4 for good and make her social media side hustle a full-time gig. Insider has the details : Shah said that before giving up her corporate job, managing a side hustle felt like having a double life. She became aware that past managers were viewing her posts and that made her cautious. “It felt like I was Hannah Montana coming back from working and doing something completely opposite but I

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5 Key Terms Clients with Inventory Should Know

Intuitive Accountant

With accurate inventory accounting, your clients can better analyze their stock and identify areas to cut costs and maximize profits. DEAR Systems show you how.

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Nonprofits facing financial stresses

Accounting Today

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Why Your Firm Isn't Done Preparing for the Future

Accounting Web

Growth Why Your Firm Isn't Done Preparing for the Future.

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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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Monday Morning Accounting News Brief: KPMG Doesn’t Care; Audit Partners on Inflation; Record Payouts | 7.11.22

Going Concern

KPMG’s global leadership has been accused by staff of failing to act on written complaints about the conduct of the chief executive of the accounting firm’s business in the United Arab Emirates, writes Financial Times. ICYMI: 950 PwC UK partners scored £1m payouts, a first for any Big 4 firm, and The Guardian made sure to point out that despite the record-breaking partner pay, firms have…some issues : The record payments have come despite PwC – like its rivals in the big four, Deloitte, EY

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Your 3-Step Plan to Successfully Deploying Technology

Intuitive Accountant

Why technology is the secret to providing highly profitable advisory services. Qvinci Software CEO Brad Adams breaks the process down.

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IRS updates guidance on tax deduction for energy-efficient buildings

Accounting Today

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Important business changes coming into effect after 1 July 2022!

Reckon

Seismic shifts are brewing across the Australian business landscape this year, and it would be prudent to get ahead of them. From prescriptive changes like eInvoicing mandates, superannuation guarantees, and plastic bag bans – to less palpable shifts such as inflation and energy costs, you should be getting your business ready to tackle these obstacles and opportunities now.

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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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Know How to Sell on Walmart Marketplace Today

Snyder

Uber-popular e-commerce sites like Amazon or eBay are known for having the lion’s share of the market. But that doesn’t mean you can’t sell online somewhere else. In fact, many retailers are carving out their own niche by selling on other sites instead of directly to customers. In today’s digital age, it’s become increasingly important for brands to have a presence online.

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APPS Directory Spotlight — FlowLink

Intuitive Accountant

The hybrid business model that gives you the best of both worlds—out of the box power and infinite customization.

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IRS chief set to testify behind closed doors on Comey, McCabe audits

Accounting Today

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23 Accounting Security Tips to Keep Your Firm Secure

Ryan Lazanis

In today’s post, I’m going to show you the very best accounting security tips (23 of them to be precise!) to keep your accounting firm safe and secure. Key Takeaways. Importance of why you must have accounting security for the safety of your business. Different cybersecurity threats you need to be aware of that your CPA firm may encounter.

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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.