TaxConnex

APRIL 28, 2022

In years past, auditors could show up at your door asking to look at your records. Now that’s much less common. Usually, you learn about an audit through a notice or letter from the state or jurisdiction in question with instructions on how the audit will proceed. Many audits are conducted remotely, and an auditor never visits your office. Audits remain an important tool for tax jurisdictions to evaluate the level, or lack thereof, of sales tax compliance within a business.

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audit auditor general ledger Minnesota 245

BurklandAssociates

APRIL 25, 2022

Your startup should raise Series A funding once you’re beyond the MVP stage, have a proven product-market fit, and are ready to accelerate growth. The post When Should My Startup Raise Series A Funding? appeared first on Burkland.

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Withum

APRIL 27, 2022

Many nonprofit organizations have limited resources and often the finance team also supports the general operations. The accounting system is the basis for reports that must be provided to grant agencies, prospective donors, lenders, its independent auditors, tax preparers, the Board of directors and management. . Frequently, while cash transactions are usually recorded timely, account balances are not analyzed, reconciliations are delayed, work papers that provide the details of account balance

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general ledger audit auditor accounting and finance 119

ThomsonReuters

APRIL 28, 2022

IRS Information Letter 2022-0005 (Feb. 25, 2022). Available at [link]. The IRS has released an information letter regarding the requirements for expenses to qualify as medical care under Code § 213. The letter responds to a request for guidance on when the cost of health and wellness coaching is medical care that can be reimbursed under health FSAs, HSAs, and other tax-favored accounts.

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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.

Finance

TaxConnex

APRIL 26, 2022

Not paying attention to your sales tax obligations is never wise. True, it’s a relatively new requirement to collect sales and use tax from remote customers, but it’s one the taxman has always taken seriously from businesses – and that seriousness is only intensifying. It’s also mostly up to you to determine your sales tax obligation, and the rules for complying change frequently.

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audit Sales Tax Start-ups 245

CTP

APRIL 29, 2022

When tax professionals prepare a tax return, they are typically aiming for the return to be correct “beyond a reasonable doubt.” However, this is hardly a black-and-white matter. In the eyes of tax law, the reality is that almost nothing can be dubbed “always correct” or “always incorrect.” Rather, tax professionals must learn to navigate a world of gray.

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ThomsonReuters

APRIL 28, 2022

QUESTION: Our company has always shied away from providing advice to participants regarding their personal retirement planning. We are concerned, however, that employees may not have sufficient information and professional advice to make good retirement planning decisions, so we would like to start making retirement planning services available. If we do, will those services be taxable, adding to our cost and administrative burden?

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Education tax preparation Legal income tax 105

SchoolofBookkeeping

APRIL 27, 2022

Intuit (Nasdaq: INTU), the global technology platform that makes TurboTax , QuickBooks , Mint , Credit Karma and Mailchimp , today announced Spreadsheet Sync for QuickBooks Online Advanced (Advanced), which enables two-way synching with Excel. Spreadsheet Sync expands Advanced’s capabilities for mid-sized businesses around reporting and analysis.

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quickbooks Technology 98

Going Concern

APRIL 23, 2022

The last of the Big 4 to be ranked in the 2022 Fortune BCTWF and the one that took the biggest drop over the last year is the proudest and trustiest firm of them all, PwC. Fortune doesn’t reveal why a particular company fell so many spots in its ranking from one year to the next, so why the best public accounting firm to work at dropped 25 positions from 2021 to 2022 is anyone’s guess.

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public accounting Start-ups accounting firms accountant 98

Snyder

APRIL 25, 2022

When you have a successful business , it’s important to be able to track and manage your physical goods, and inventory management will help you with that. Whether you’re just starting out or have been in the game for a while, good inventory management for small businesses will maximize your profits and minimize expenses. The goal of inventory management is to ensure that you have the products that your customers want and are able to deliver them without any trouble.

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Technology

ThomsonReuters

APRIL 26, 2022

Tax and accounting firms of all sizes need dependable systems and procedures to deliver the best value to their clients. Finding the right accounting software for your firm will keep business records organized, improve operational efficiency, identify areas for improvement, and help you manage growth over time. As technology changes the accounting world, it’s more important than ever to modernize operations and prioritize a technology roadmap for your firm’s future. 4 key steps to ev

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accounting software Technology Account accounted 98

Anders CPA

APRIL 26, 2022

Owning rental real estate can be a great supplemental source of income in addition to a normal day job. What is most commonly misunderstood about this type of investment is how an individual can treat the income and or losses for tax purposes. Determining your level of involvement is key to the tax treatment of the income/losses that the real estate generates.

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income tax Real Estate Tax CPA 98

Ryan Lazanis

APRIL 28, 2022

Reclaim your “me” time by increasing your productivity to decrease your workload. In this podcast episode, I shared an easy-to-follow 6-step routine so you can efficiently manage your time to finish important tasks. Listen below. 1:04 – One of the reasons why I read up a bit more on productivity was because I felt myself lacking a lot of focus. 1:32 – I use an app called Rescuetime which automatically tracks your computer usage. 1:55 – I spent a bit of time reflecti

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accountant accounted Account 98

SkagitCountyTaxServices

APRIL 27, 2022

Tax “season” is over – at least for most of us. For all of the tax-exempt organizations out there operating on a calendar year basis, just a little nudge regarding the May 16th filing deadline. We’re here to help. Now, however, despite the relief that comes with the passing of the personal income tax filing deadline, it’s important to remember that tax avoidance isn’t a one-time occasion.

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Tax CPA income tax payroll 92

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.

payroll

ThomsonReuters

APRIL 29, 2022

The Certified Payroll Professional (CPP) exam is an advanced payroll professional certification offered by the American Payroll Association ( APA ). This 190 question test can be a benefit to both payroll professionals and their employers. The CPP allows payroll professionals to demonstrate their expertise and advancement in a company. CPP benefits. .

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Withum

APRIL 27, 2022

The impact of TJCA resulted in widespread changes to the tax treatment of §174 Research and Experimentation (“R&E”) expenditures. §174 R&E expenditures are a highly regarded aspect of the Internal Revenue Code (“IRC”) for companies engaging in innovation. . For tax years starting before December 31, 2021, taxpayers had the option to directly expense or amortize no less than 60 months from when the taxpayer first begins to derive benefit from the R&E.

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Tax 88

AccountingDepartment

APRIL 28, 2022

Last week, AccountingDepartment.com Business Development Representative, Shawn Marcum, attended the Entrepreneurial Operating System (EOS) Conference in Orlando, Florida.

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Florida 84

CPA Practice

APRIL 28, 2022

Intuit's annual QuickBooks Connect conference is headed to Las Vegas, December 7-9, 2022/ The conference is geared toward the accountants, small businesses, ProAdvisors and partners who use QuickBooks.

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quickbooks accounted Account accountant 75

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.

Finance

Randal DeHart

APRIL 29, 2022

If you want your business to continue growing and thriving, you'll need to find ways to bring in new clients. Before the internet was commercially available, there were just as many experts advising contractors about the layout and design of yellow page ads and which books to spend money on. I say spend money because that is what it was and is now. Many of us who owned and operated construction companies spent thousands of dollars on these experts and, based on their recommendations, spent tens

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Construction 72

Withum

APRIL 29, 2022

Because the IRS is so backlogged these days, we have many clients that filed employee retention credit (ERC) claims more than six to eight months ago and still have not received the funds – for many clients, the claim is in the millions of dollars. This puts them in an awkward position because the IRS position is that once a taxpayer files a claim for the ERC, it must disallow the wages and health plan expenses giving rise to the ERC, effectively subjecting the ERC to taxation.

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Tax audit tax services business tax 80

AccountingDepartment

APRIL 26, 2022

Nearly every business can benefit from outsourced accounting services, regardless of their size or niche. Outsource your accounting services and you’ll reap myriad benefits ranging from reduced overhead costs to enhanced reliability, the expertise of an entire team of accounting specialists and so much more. In particular, outsourcing your accounting services is beneficial in that it reduces risk.

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Account accounted accountant bookkeeping services 81

GrowthForceBlog

APRIL 28, 2022

8 min read. It's no surprise that employee turnover is expensive.

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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.

CPA

RitaKeller

APRIL 26, 2022

“Alone we can do so little; together we can do so much.” – Helen Keller. I have known Marc Rosenberg for decades. He is a good friend and colleague. We enjoyed so many enlightening years together in The New Horizon Group. And, I have known Kristen Rampe for many years and have recommended her to many of my clients and contacts. It makes me happy that these two have joined forces to create a new force in the CPA firm consulting world.

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cpa firm CPA 59

Going Concern

APRIL 29, 2022

New Deloitte report: working women face alarmingly high levels of burnout despite shifting work arrangements, rise in hybrid working [ PR Newswire ] Widespread burnout and lack of flexible work continues to hinder progress in supporting working women, according to the latest Deloitte report, “Women @ Work 2022: A Global Outlook” released today.

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auditor audit Account accounted 52

Canopy Accounting

APRIL 29, 2022

There are a lot of compelling reasons to offer tax resolution services, but tax resolution can also get complicated, and that scares away a lot of tax professionals. Luckily, not all tax resolution is as complicated as a doubt as to liability Offer in Compromise or Trust Fund Recovery Penalty case. Penalty abatement cases are often very straightforward and still extremely valuable to clients.

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Tax 52

Intuitive Accountant

APRIL 29, 2022

Ted Callahan, QuickBooks Accountant Segment Leader, announced today that QuickBooks Connect is scheduled to be a face to face event again in December 2022.

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quickbooks Account accountant accounted 52

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

Spend Management

Withum

APRIL 29, 2022

Mark Calnan , Principal and Leader of Withum’s Investigative and Corporate Intelligence Services, Peter Kim , Principal and Leader of Withum’s Bank Secrecy Act/Anti-Money Laundering Services and Jessica Hollobaugh , Partner and Market Leader, Forensics, Investigations, and White-Collar Criminal Defense were featured on Fox Rothschild’s Podcast Series: The Presumption of Innocence.

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CPA 52

CTP

APRIL 29, 2022

One of the many benefits of working with a tax professional is the guidance they provide in developing tax return positions that substantiate why certain income qualifies for tax-exemption or why you are eligible for a certain tax deduction. When tax professionals prepare a tax return, they are typically aiming for the return to be correct “beyond a reasonable doubt.

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tax preparation Tax tax return cpas 52

Wendy Tietz

APRIL 28, 2022

Looking for a quick data analytics exercise for financial statement analysis in an introductory accounting class? You can give your students the link for this financial statement analysis dashboard and then ask a series of questions. There is no software for students to install; the dashboard is hosted on Tableau Public and can be accessed […].

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financial statements accounted Account accountant 52

Pooley Accounting Services

APRIL 28, 2022

Project accounting can be difficult to manage, especially if it includes tracking billable expenses on the go. When employees travel to a client’s location to install software or equipment, transportation and living expenses are billed to the client. While the client may not require documentation for every cup of coffee, the IRS does. Getting employees to document their expenses can be a struggle.

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