Going Concern

JANUARY 18, 2023

Someone sent us this r/accounting thread on returning to the office the other day and wanted to make sure we call out one comment in particular. You’ll see why in a second. The question of what would motivate you to go back to the office has been asked before, in a multitude of ways, and each time the answer(s) are along a predictable spectrum ranging from “nothing, I’m not going back” to “let’s see the partners return to office first.” This thread is no

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AccountingDepartment

JANUARY 19, 2023

As a business owner, getting paid in full and on time is crucial for a healthy cash flow. However, late payments and bad debts are a constant threat looming over an accounts receivables (AR) team. Accounts receivable reports are a key tool for businesses to manage their AR balances, forecast cash inflow, and stay on top of overdue payments.

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Snyder

JANUARY 19, 2023

Tax season is the time when accounting firms and CPAs earn the biggest part of their profit. At the same time, it’s the most stressful period for them. The amount of work drastically increases, as well as the time pressure and mental load. Surviving tax season is a skill that any accountant has to develop, and the earlier, the better. The general workload of the busy period includes getting the end-of-year info from clients, reconciliation, working with tax receipts, income reporting slips, prep

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CPA Practice

JANUARY 18, 2023

By Chris Farrell, CPA. When asked why they went into the profession, most accounting professionals will answer, “Because I want to help my clients succeed.” It’s true that the accounting profession provides great career paths, with lots of interesting things to work on, but the biggest thing that motivates accounting professionals is their big hearts.

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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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Going Concern

JANUARY 19, 2023

Life at Deloitte was trumpeting an appearance on Glassdoor’s latest Best Places to Work list yesterday so naturally we swung over to the list to see what’s what. At @Deloitte , we’re committed to our people’s professional & personal well-being. That’s why we’re thrilled our organization has been named one of the Best Places to Work in 2023 by @Glassdoor.

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AccountingDepartment

JANUARY 18, 2023

Smart financial planning is something that sets successful growing businesses apart from others. Whether a business is new or growing in size , these 5 tips can be used by business owners to smarten up their business finances and prepare themselves for a successful future.

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Canopy Accounting

JANUARY 19, 2023

According to SUMO , the average financial return for email marketing is $44.25 for every $1 spent! Still think email marketing shouldn’t be a priority for your tax practice during tax season?

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Tax 104

Accounting for Good

JANUARY 16, 2023

The post The not-for-profit sector in numbers first appeared on ACCOUNTING FOR GOOD.

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CPA Practice

JANUARY 18, 2023

61% of employed North Americans are more stressed about their finances today than they were a year ago – and are experiencing the highest level of financial stress since the financial crisis of 2008. That’s according to a new survey by Ceridian, a global leader in human capital management (HCM) technology. This study, created in partnership with the Financial Wellness Lab of Canada , surveyed more than 4,200 workers across the United States and Canada to analyze three clusters of people – Stress

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RogerRossmeisl

JANUARY 20, 2023

For many retailers, January isn’t just the first month of the year: It’s “return season,” when customers bring back their unwanted holiday gifts for refunds or exchanges. Return season can be fraught for businesses if, for example, a higher percentage of gifts are returned than stores expect. According to the National Retail Association, consumers are expected to have returned more than $816 billion of merchandise (almost 17% of goods sold) in 2022.

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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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TaxConnex

JANUARY 19, 2023

We hear a lot about “sales tax obligations,” but who exactly in your company is “obligated?” You are, at least in many states. Since the Supreme Court’s 2018 Wayfair decision, many businesses are required to collect and remit sales tax in multiple states – more so than pre-Wayfair. Various “responsible party” laws across the country mean that a business itself is not the only one at risk: CEOs, CFOs, directors and other execs can be responsible for sales tax shortfalls.

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BurklandAssociates

JANUARY 17, 2023

By Nancy Torretta and Sam Leon An update to IRC Section 174 took effect January 1, 2022 that will impact the R&D Tax Credit for startups. What is IRC Section Read More. The post An Important R&D Tax Credit Update Impacting Startups in 2023 appeared first on Burkland.

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MyIRSRelief

JANUARY 16, 2023

When it comes to tax season, many people are faced with the decision of whether to prepare their own taxes or use an income tax preparation service. While it may seem like an added expense, there are many benefits to using a professional tax preparation service that make it well worth the cost. One of the biggest advantages of using a tax preparation service is the level of expertise they bring to the table.

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CPA Practice

JANUARY 19, 2023

By Arianna Campbell. Are you the type of leader who inspires transformation in your firm? Do you believe in pushing the boundaries and challenging norms to propel your business operations forward? If so, you likely possess many attributes of a transformative leader. Transformative leaders understand what needs to be done and can identify unique opportunities as well as navigate complex issues within their organizations.

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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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TaxConnex

JANUARY 17, 2023

Online sales could not exist without shipping, and the charges associated with shipping are subject to sales tax in many states. Question is, who has to pay that sales tax these days, and where? For sales tax purposes, you’ll see reference to “shipping,” “shipping and handling” (Arizona taxes these two, for instance) and “delivery”. Three terms with confusing differences as you try to meet sales tax obligations in states and jurisdictions where you have economic nexus.

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Going Concern

JANUARY 17, 2023

Big 4 firms spit out all kinds of research — very little of which rates a mention beyond maybe somewhere in a linkwrap if that — but this research from KPMG we’re about to share with you (which we did bury in a linkwrap some weeks back ) deserves a callout of its own. Not because it’s so stupid or fluffed with buzzwords, as much as we enjoy calling both of those things out.

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accountant Account accounted 128

Withum

JANUARY 20, 2023

The goal of minimizing tax liability likely drives a desire to discover new advantages in the tax law. If this sounds familiar to you, when planning for the upcoming tax year, a great place to start is with the basics. We can help. As you navigate our complicated tax code, you need a partner and important information in order to make the appropriate adjustments.

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CPA Practice

JANUARY 17, 2023

By Shawn Parikh. In the last few years there has been a shortage of critical skills with regards to the accounting profession and especially in the output of North American and European professionals with CPA, EA and CMA qualifications. This accounting qualification shortage has put a squeeze on firm owners who require individuals with these designations.

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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

Insightful Accountant

JANUARY 19, 2023

Everyone wants to streamline their logistics. To help out, PACK & SEND's Nicholas Woodward shares the seven best accounting practices for managing your accounts effectively.

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Going Concern

JANUARY 16, 2023

The following message we’re about to share with you was sent out as a firmwide email from then-Chairman Dennis Nally to everyone at PwC almost exactly 15 years ago to the day. To my knowledge it’s never been published here, because back when it went out to everyone working at PwC US in January 2008, Going Concern didn’t exist yet and wouldn’t for another year and a half.

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Withum

JANUARY 18, 2023

There are several actions that a taxpayer can take that may result in a criminal referral or perhaps just the imposition of the civil fraud penalty. These all fall under the umbrella of tax evasion, but it is broader than that. In fact, there are several different actions a taxpayer can take or fail to take that can result in them being on the wrong side of an IRS inquiry.

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CPA Practice

JANUARY 18, 2023

Founded in 1903, the Illinois CPA Society (ICPAS) is one of the largest state CPA societies in the nation, with the core mission of “enhancing the value of the CPA profession” through meaningful and convenient education, timely and relevant information, influential advocacy, and countless opportunities to make powerful professional connections. ICPAS serves an extraordinary community of more than 22,600 accounting and finance professionals in a variety of CPA and non-CPA roles positioned through

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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.

Insightful Accountant

JANUARY 16, 2023

The deadline for Top 100 nominations is just under a month away, so now is a good time to head over to the nomination form. Speaking of our new form, we wanted to clarify a couple of questions we've been asked.

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Going Concern

JANUARY 20, 2023

You ever been in a position where you’re juggling a few different offers from roughly equivalent firms? Of course you have. What factors do you consider when making this important decision? Salary, obviously. Culture, perhaps. Was the guy who interviewed you a dick? That definitely rates. What about commercial real estate? Anyone? MCM CPAs & Advisors LLP has, to my knowledge, never been mentioned on this website in the 14 years we have existed.

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Withum

JANUARY 17, 2023

How to Start a Charity is the topic of my next webinar at the East Brunswick Public Library, to be presented Thursday, January 19, 2023, at Noon. I will cover 30 Steps involved in setting up a 501(c)(3) charity or not-for-profit (“NFP”) organization and how to start operating it. Included will be IRS and state filings, initial contribution deductibility before IRS approval is granted, methods of raising revenues and unrelated business activities, volunteer and paid staff, the public database, ta

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CPA Practice

JANUARY 17, 2023

State CPA Society Ne ws is a round-up of recent announcements and initiatives by CPA associations in the United States and its territories. Massachusetts: The Massachusetts Society of CPAs (MASSCPAs) wants members to prioritize their health this tax season. The Society is offering free wellness webinars to all of its members to help them prioritize both physical and mental health.

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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.

Insightful Accountant

JANUARY 19, 2023

With the New Year comes change, and that means enhancements to QuickBooks. January is bringing banking enhancements with it for QBO and QBO-Accountant users.

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Canopy Accounting

JANUARY 20, 2023

There are many interesting changes in business taxation for the 2023 season! Since tax planning for businesses is an important part of our practice, there are several things we need to be aware of.

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Withum

JANUARY 17, 2023

Explore Other Episodes. #CivicWarriors #WithumImpact. The post Building Playgrounds for Everybody With Build Jake’s Place appeared first on Withum.

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CPA Practice

JANUARY 17, 2023

By James Paille. In 2021, 67% of accounting firms reported they offered payroll services to their clients. Accounting firms today know offering client payroll services can lead to significant revenue growth for their practice. Offering payroll can lead to an immense value add for your clients while boosting revenue and profits for your firm. Deploying the right payroll solution can help firms drive efficiencies, minimize time-consuming manual data entry tasks, and improve accuracy.

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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.