Going Concern

FEBRUARY 9, 2023

For CPAs, accountants, and auditors, busy season sucks. The stress can take a serious toll on your personal life, your relationships, and even your health. That’s because it’s hard to find time for things like diet, exercise, and those pesky “other people in your life” when you’re busy reconciling the list of outstanding client requests from: Email threads, Excel docs, Handwritten scribbles on the back of a tear-soaked cocktail napkin from last night’s happy hour that ended with you making merci

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IgniteSpot

FEBRUARY 9, 2023

Selecting the right chief financial officer (CFO) for your business can be vital to successfully scaling your organization and increasing your ROI.

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Snyder

FEBRUARY 7, 2023

Tax liability is an inevitable part of running a business. Every year business owners have to bear the burden of the tax season, paying taxes for income, payroll, property, sales, and so on. In total, nearly 30% of a business’ income is needed to cover all tax payments. According to statistics, the U.S. government received total tax receipts of 4,05 trillion USD within a year.

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Withum

FEBRUARY 8, 2023

President Biden’s State of the Union Address on February 7, 2023 included calls for tax reform and for “responsible” action by Congress to increase the $31.4 trillion federal debt limit, which is coming to a head in about four months. Separately, he indicated a willingness to work with Republicans on deficit reduction outside of the debt limit discussions.

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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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GrowthForceBlog

FEBRUARY 8, 2023

8 min read How does one go from being an employee to becoming a supervisor? How does a marketing expert, engineer, or craftsman start hiring employees and then transform themselves into managers of their own businesses? How do people already working in leadership roles become more effective managers?

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CPA Practice

FEBRUARY 6, 2023

The Treasury Department and the IRS on Monday issued Notice 2023-13 , which contains a proposed revenue procedure that would establish the Service Industry Tip Compliance Agreement (SITCA) program—a voluntary tip reporting program between the IRS and employers in various service industries. The IRS is issuing this guidance in proposed form to provide an opportunity for public comment.

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Summit CPA

FEBRUARY 8, 2023

The Virtual CPA Success Show: Episode 73 In this episode, our host, Jamie Nau, Summit CPA's Director of Virtual CFO, and Jody Grunden, Partner at Anders CPAs + Advisors, discuss Caveman Brain® with Dr. Jean Oursler, The Results Queen®. Dr Jean is the creator of Caveman Brain Business Growth System, which helps business owners with new business development.

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cpas CPA 52

Going Concern

FEBRUARY 7, 2023

Although I am not a loyal reader of Human Resource Executive I did come across an article they just did on CLA — also known by their confirmation name CliftonLarsonAllen — and the benefits HRE outlined in said article sound awesome. Flexible PTO, a wellness stipend, access to cognitive behavioral therapy for the employee as well as any of their family members above the age of 13…great.

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RogerRossmeisl

FEBRUARY 5, 2023

Although the national price of gas is a bit lower than it was a year ago, the optional standard mileage rate used to calculate the deductible cost of operating an automobile for business will be going up in 2023. The IRS recently announced that the 2023 cents-per-mile rate for the business use of a car, van, pickup or panel truck is 65.5 cents. These rates apply to electric and hybrid-electric automobiles, as well as gasoline and diesel-powered vehicles.

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TaxConnex

FEBRUARY 7, 2023

Findings from the third annual Sales Tax Market Survey indicate that a perfect storm is brewing for financial leaders in the new year. Companies still struggle to navigate workforce shortages and retention of internal expertise, yet they remain highly dependent on in-house resources to perform many of the vital functions related to sales tax. Their resources are stretched thin, and bandwidth is reported to be the top barrier for success.

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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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MyIRSRelief

FEBRUARY 8, 2023

Tax Preparation, Tax Planning, and Tax Representation: Understanding the Importance of Professional Assistance Tax preparation, tax planning, and tax representation are all crucial components of managing your finances and ensuring that you meet your tax obligations. In this article, we will delve into what these terms mean, why they are important, and how to choose the right professional to help you.

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BurklandAssociates

FEBRUARY 7, 2023

Do not assume that your product or service is non-taxable or that you’ve identified all your areas of potential tax liability. The post Our New TechCrunch Article: What Recent Changes to State Taxes Mean for US SaaS Startups appeared first on Burkland.

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Tax 130

RogerRossmeisl

FEBRUARY 5, 2023

On 2/3/2023, the IRS issued Notice 2023-16 guidance that modifies the definitions of certain vehicle classifications for the new, previously owned and qualified commercial clean vehicle tax credits. As a result of this notice, the IRS updated the related frequently asked questions for these credits which can be found on IRS Fact Sheet 2023-4 here: IRS Fact Sheet 2023-04 (This is Blog Post #1340) The post IRS Issues Guidance and FAQ Updates Related to the Clean Vehicle Tax Credits appeared first

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TaxConnex

FEBRUARY 9, 2023

States aren’t the only ones who can complicate your life with sales tax: Local governments want to play their part, too. Cities, counties and towns nationwide – which have almost all seen an increase in their sales tax revenues in recent years – constantly tinker with their own sales taxes. The states and local jurisdictions have been the beneficiary of economic nexus over the past four years.

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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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Acterys

FEBRUARY 7, 2023

No matter what your business looks like at present, it is essential to establish a successful inventory plan and management strategy to ensure the success of your business. Developing an effective inventory plan is crucial since it helps to enhance customer satisfaction, increase profitability, reduce costs, and improve cash flow. Previously, we looked at the basics of inventory planning and the four main pillars of an inventory plan.

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CPA Practice

FEBRUARY 6, 2023

By Riley Beggin, The Detroit News (TNS) The U.S. Treasury is changing how it defines a sport utility vehicle Friday after car companies lodged complaints that some vehicles were wrongfully being boxed out of new electric vehicle tax credits. The change is likely to be the difference between thousands of dollars in consumer discounts. Under new federal tax credits, SUVs, trucks and vans can cost up to $80,000 and still qualify for a $7,500 credit.

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RogerRossmeisl

FEBRUARY 5, 2023

A new law was recently signed that will help Americans save more for retirement, although many of the provisions don’t kick in for a few years. The Setting Every Community Up for Retirement Enhancement 2.0 Act (SECURE 2.0) was signed into law on December 29, 2022. SECURE 2.0 is meant to build on the original SECURE Act of 2019, which made major changes to the required minimum distribution (RMD) rules and other retirement provisions.

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Withum

FEBRUARY 9, 2023

Sage Intacct Construction is one of the top construction finance management software providers and is the first and only AICPA-preferred accounting solution for general contractors and developers. Sage Intacct Construction enables proactive management of valuable financial metrics and improves cash flow. It’s built specifically for the construction industry , providing real-time visibility and insights through role-based dashboards.

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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

Sales

Going Concern

FEBRUARY 8, 2023

The last time we wrote about EY and the Super Bowl it was regarding the firm ’s cringey “Question Everything” ad— loved by then-U.S. chair Kelly Grier —that aired two years ago during Super Bowl LV between the Tampa Bay Buccaneers and the Kansas City Chiefs. The Chiefs are back in the Big Game this Sunday against the Philadelphia Eagles, and the EY offices in both of those cities have something fun going on—and it involves food (no, not pizza): Hopefully Burkavage and his gang in Philly have a

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CPA Practice

FEBRUARY 6, 2023

By Samantha Gowen, Los Angeles Daily News (TNS) Tax filers in California who got a Middle Class Tax Refund and a corresponding 1099 form should wait to file their federal tax returns, the IRS said last Friday. The IRS, now two weeks into tax season, issued a statement Feb. 3 saying it is working on guidance for tax preparers and at-home filers. For tax filers who got the 1099-MISC form, the question remains: Will the IRS tax the inflation refund?

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RogerRossmeisl

FEBRUARY 5, 2023

The Employee Retention Tax Credit (ERTC) was a valuable tax credit that helped employers that kept workers on staff during the height of the COVID-19 pandemic. While the credit is no longer available, eligible employers that haven’t yet claimed it might still be able to do so by filing amended payroll returns for tax years 2020 and 2021. However, the IRS is warning employers to beware of third parties that may be advising them to claim the ERTC when they don’t qualify.

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Withum

FEBRUARY 8, 2023

The rising popularity of the employee retention credit (ERC) has reached boy band status. You’ve heard of it on the radio, seen it on TV, and likely even discussed it with your friends. But as with any popular tax credit or deduction, the IRS is sure to be close behind. We’ve written about IRS audits rolling out last July, and the IRS followed up our article with a warning to taxpayers regarding third-party promotion of improper ERC claims.

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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.

Going Concern

FEBRUARY 9, 2023

The family of 25-year-old Peter Smith, an audit associate at KPMG who died of Lyme carditis —which occurs when Lyme disease bacteria enter the tissue of the heart—on July 2, 2017, was awarded $6.5 million by a jury in Cumberland County, ME, last week after deciding that a Mercy Hospital doctor had failed to accurately diagnose Smith after repeated visits.

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CPA Practice

FEBRUARY 9, 2023

Accounting and finance, human resources, legal, and technology professionals are the most in-demand by companies looking to hire in the first half of this year, according to the State of U.S. Hiring Survey from staffing firm Robert Half. Among managers at companies planning to hire for permanent roles in the first six months of 2023, 64% are looking to fill technology roles, 62% need accountants and finance professionals, and 59% are desperate for new employees in both HR and marketing.

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Insightful Accountant

FEBRUARY 8, 2023

Stripe and Xero are expanding their partnership to help small businesses globally get paid faster. Murph provides the details.

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Withum

FEBRUARY 9, 2023

Explore Other Episodes #CivicWarriors #WithumImpact The post Innovative Problem Solving With Mission:Cure appeared first on Withum.

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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.

Going Concern

FEBRUARY 6, 2023

Hate to be the burster of bubbles for anyone out there excited to unload your work on ChatGPT but PwC Australia has told its people that for now, playing around with AI should happen strictly off the clock. Australian Financial Review reports that in this morning’s internal newsletter, PwCers were told not to feed client data into ChatGPT and to be wary of potentially conflicting output from this emerging technology.

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CPA Practice

FEBRUARY 10, 2023

Anyone who electronically files an amended individual income tax return can for the first time select to have any resulting refund deposited into their bank account, the IRS said on Feb. 9. Up until now, taxpayers who filed Form 1040-X , Amended U.S. Individual Income Tax Return , with the IRS had to wait for a mailed paper refund check, adding an extra step onto the amended return process.

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Insightful Accountant

FEBRUARY 6, 2023

In this webinar recap, internationally renowned ProAdvisor Esther Friedberg Karp (with an assist from Murph) drills down into the cash flow tool feature and how it can benefit you.

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Anders CPA

FEBRUARY 9, 2023

To set your business apart from your competition, it will take ingenuity and innovative thinking. Customers expect a continuously improving experience and to provide it, businesses must invest in the teams and technology necessary to retool their company to thrive in change. In the Season 2 premiere of But Who’s Counting? , host David E. Hartley sat down with changemaker and Integrity CEO John Simanowitz to seek his advice on ways businesses can innovate to improve their processes and come to be

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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.