CPA Practice

JANUARY 23, 2023

By Mark Ballard, The Advocate, Baton Rouge, La. (TNS) Seeming to come out of left field, President Joe Biden last week blasted Republicans for pushing legislation that would abolish federal income taxes and the IRS then replace those revenues with a 30% or so national sales tax. “It would raise taxes on the middle class by taxing thousands of everyday items, from groceries to gas, while cutting taxes for the wealthiest Americans,” Biden said during a speech at the National Action Network’s Marti

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income tax Louisiana Georgia Tax 116

Lockstep

JANUARY 25, 2023

Accounting is often thought of as a purely financial discipline, but its role in customer experience (CX) and providing customer delight should not be underestimated. In today’s competitive landscape, businesses need to go above and beyond to win customers over and keep them coming back. That’s where accounting comes in. With its unrivaled ability to track money flows and optimize financial processes, accounting can play a vital role in enhancing the customer experience.

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accountant Account accounted Start-ups 86

Going Concern

JANUARY 25, 2023

When Thomson Reuters reported late last year that the Financial Accounting Standards Board (FASB) had proposed an eighth round of changes to lease accounting rules 1 , accounting and finance execs around the country channeled their inner Charlie Browns with a collective, “Good grief!” The grief is understandable, although we’re not sure how “good” it is.

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accountant Account accounted Real Estate 106

AccountingDepartment

JANUARY 26, 2023

From a business owner's standpoint, the thought of handing off an entire area of your business for someone else to take care of may seem a bit nerve-wracking. But business owners should consider how much time is being used up on a daily, weekly, or yearly basis on an area of the business, like bookkeeping, that can be spent focusing on sales, growth, and future planning.

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bookkeeping Sales bookkeeping services accounted 84

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.

Account

CTP

JANUARY 23, 2023

What are your accounting goals? Many firms want to grow and expand. However, other businesses want to focus on: Increasing profit margins Boosting net profit Growing revenue At the same time, owners often find themselves stressed because they don’t maintain a healthy work-life balance. As the tax season picks up, we recommend that you sit down and reflect on the past before diving into your goals for the future.

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accountant Account accounted accounting firms 96

BurklandAssociates

JANUARY 24, 2023

FP&A provides data analysis and decision support to the entire organization, including the CFO who is responsible for strategic financial oversight. The post FP&A vs. CFO for Startups: What’s the Difference? appeared first on Burkland.

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Snyder

JANUARY 26, 2023

Steady cash flow is what supports your business in a very literal sense. Driving those numbers upwards should be applied not only at the sales and marketing level but the accounting level too. Improving your cash flow metrics with a smart accounting feature like a recurring invoice is a great example of how accounting software can become a reliable partner in your business venture.

quickbooks 52

quickbooks accountant Account accounted 52

Patriot Software

JANUARY 24, 2023

Cash flow problems happen—often. It’s why 82% of small businesses fail. But if you have issues with your cash flow, you’re not doomed to close up shop. Instead, it’s like coming to a fork in the road. Turn right to power through, or turn left to call it quits.

accountant 52

accountant accounted Account 52

Airbase

JANUARY 27, 2023

According to the Global Corporate Treasury Survey , treasury departments increasingly recognize the strategic nature of their role. The survey revealed that the majority of participants consider “managing liquidity risk and overseeing financial risk management” to be crucial priorities. Additionally, improving cash forecasting and streamlining operations are significant concerns.

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Spend Management Platform Accounts Payable Automation Spend Management accounting and finance 130

TaxConnex

JANUARY 26, 2023

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. Crystal ball time. Gary Bingel, partner-in-charge for state and local taxes in accounting firm EisnerAmper’s State and Local Tax National Tax Group, made several predictions for 2023 in sales and other taxes. Among them: Online sellers will challenge more states’ concept of nexus and warehouses – especially for storing inventory for marketplace facilitators such

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Sales Tax Arkansas Missouri 130

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.

Account

Withum

JANUARY 23, 2023

As users or end-users in IT terms, we often receive notices and trainings to keep our company and client data safe. These tips are always helpful, yet the information does not readily translate to personal cybersecurity diligence. Our accompanying podcast, “Personal Cybersecurity Habits You’re Overlooking,” solicits advice from Withum’s Julie Tracy , Executive Cybersecurity Advisor.

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CPA 135

CPA Practice

JANUARY 27, 2023

SECURE Act 20 is finally here. The long-awaited upgrade to the initial legislation known as the Setting Every Community Up for Retirement Enhancement (SECURE) Act, passed in 2019, was signed into law on December 29, 2022. SECURE Act 2.0 includes numerous significant provisions affecting individual retirement savers. Following is a brief roundup of several key changes.

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income tax Tax Start-ups Education 128

Going Concern

JANUARY 27, 2023

I was cleaning out pics on my phone and was reminded of something I saw on Reddit a few weeks back: a screenshot of someone’s many, many, MANY CPA exam attempts over twelve years. Most people would have given up around the tenth attempt but this person persisted. And persisted. And persisted. So if you are still hurting from the January 10th score release just remember, the only way to fail forever is to stop trying.

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CPA 122

Insightful Accountant

JANUARY 25, 2023

Xero has announced an integration with Melio, a leading B2B payment platform that will permit the automatic sync of A/P and A/R data between the two small business solutions.

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B2B 120

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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.

financial statements

Xero

JANUARY 22, 2023

By now, you’ll be familiar with Single Touch Payroll Phase 2. This will see your business build on its existing STP reporting to share more information with the ATO and additional government agencies whenever you process a pay run. With Xero’s deferral soon coming to an end, mandatory Phase 2 reporting is set to commence from 31 March 2023. This means that all Xero Payroll users must transition to the Phase 2 reporting standard.

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payroll Government bookkeeping 102

CPA Practice

JANUARY 26, 2023

The Internal Revenue Service is reminding employers of the January deadline to file Forms W-2 and other wage statements. Filing these documents timely prevents late-filing penalties for employers, helps employees file their income tax returns and prevents tax fraud. Employers must file copies of their 2022 Form W-2, Wage and Tax Statements , and Form W-3, Transmittal of Wage and Tax Statements , with the Social Security Administration by January 31, 2023.

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payroll tax tax return income tax payroll 128

Going Concern

JANUARY 23, 2023

Last week someone complained about the format I’ve been using for this linkwrap since I started doing it many, many Mondays ago so just for them, here’s some bullet-free bullet points in lieu of one giant paragraph. Don’t say I never did anything for you. Brazilian retailer and PwC client Americanas filed for bankruptcy, its three largest shareholders said over the weekend they had not known of $4 billion in accounting inconsistencies. “We didn’t know of and would n

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public accounting accountant Account accounted 116

Insightful Accountant

JANUARY 22, 2023

The Bonadio Group’s Kristin Kowalski discusses some of the ins and outs of what is becoming a potential growth opportunity in 2023 and beyond. Here’s what today’s accounting professionals should know.

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accountant Account accounted 115

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

ThomsonReuters

JANUARY 26, 2023

Rev. Proc. 2023-14 (Jan. 18, 2023) Available at [link] The IRS has announced the 2023 inflation-adjusted Code § 280F “luxury automobile” limits on certain deductions that may be taken by taxpayers using passenger automobiles (including vans and trucks) in a trade or business. For purchased automobiles, the limits cap the taxpayer’s depreciation deduction.

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Tax accountant Account accounted 102

CPA Practice

JANUARY 23, 2023

By Tod McDonald. With markets changing and capital becoming more constrained by the day, there is a rapidly heightened awareness of the role that due diligence and audits play. In short, with interest rates on the rise and recessionary fears growing, the tide is, at long last, going out — and when the tide recedes is when we see what truly lies beneath.

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audit auditor forensic accounting Technology 124

Going Concern

JANUARY 21, 2023

When big layoffs began in tech last year, accountants everywhere justifiably celebrated for having chosen a career that may not be the most prestigious (or exciting or lucrative…) but will always be in demand. While their employees were quietly boasting about not losing their jobs, it seems EY leadership was waiting in the wings hoping to snap up some of the newly-liberated tech talent.

accounting firms 116

accounting firms Technology accountant Account 116

Insightful Accountant

JANUARY 23, 2023

You need to read this if you're an accountant who has firm-billed (wholesale billing or “Bill My Firm”) clients without a Payroll or Contractor Payment subscription, and are filing 1099(s) for the 2022 tax year.

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quickbooks payroll Tax accountant 105

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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.

ThomsonReuters

JANUARY 26, 2023

Initial Report on the Independent Dispute Resolution (IDR) Process April 15 – September 30, 2022 (Dec. 15, 2022) Available at [link] The DOL, HHS, and IRS have jointly issued a report with usage data on the surprise billing independent dispute resolution (IDR) process created when the Consolidated Appropriations Act, 2021 (CAA, 2021) expanded patient protections to shield individuals from surprise bills for certain out-of-network emergency and non-emergency services.

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CPA Practice

JANUARY 27, 2023

By Daniel F. Rahill, CPA/PFS, JD, LL.M., CGMA. Three years after the Setting Every Community Up for Retirement Enhancement (SECURE) Act was enacted, SECURE Act 2.0 is now law, with the goal of “securing” American workers’ retirement options well into the future. With the act containing upward of 100 new retirement provisions, here are six of the most notable changes taking effect this year.

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Illinois Non-Profits CPA cpas 119

Going Concern

JANUARY 24, 2023

RSM International CEO Jean Stephens spoke to Financial Times recently and let everyone know that her firm is totally open to a little wheeling and dealing that would bump them up from their current spot as the sixth largest firm (#5 on the IPA 500 ). Coincidentally, RSM just released their revenue numbers and they are anything but shabby. A few bullets from today’s press release : Global revenues increase by over 41% in three years Double-digit growth across all RSM regions for a second co

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Start-ups accountant Account accounted 110

Insightful Accountant

JANUARY 26, 2023

MasterYourBooks' Mariette Martinez on the important role both play in reaching personal and professional growth goals for Latinos.

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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.

Withum

JANUARY 25, 2023

Wondering how to use Power Automate or wondering what exactly it is? Power Automate is an incredible tool in the Microsoft Power Platform toolbox that can help your business automate tasks by creating low/no code flows, freeing up your team members’ time to work on challenges that require a human touch. Here are some valuable Power Automate best practices I have learned along the way that help me stay organized when constructing flows.

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CPA Practice

JANUARY 24, 2023

The IRS sent out a reminder on the second day of the 2023 filing season that all digital asset-related income must be reported when taxpayers file their 2022 federal income tax returns. One change of note on forms 1040 this year is the IRS has replaced the term “virtual currency” with “digital assets,” a term that covers more than just cryptocurrencies but also stablecoins and nonfungible tokens.

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tax return income tax Tax accountant 119

Going Concern

JANUARY 23, 2023

Tiny little Southfield, MI firm Clayton & McKervey won’t be making Vault prestige lists any time soon but it is doing something to support its people through the process of getting the necessary 150 units for licensure: offering scholarships. Ranked #259 on the INSIDE Public Accounting Top 500 with revenue of $16,392,083, Clayton & McKervey has partnered with U.S.

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accounting firms CPA accountant Account 98

Insightful Accountant

JANUARY 23, 2023

The virtual fireside chat, which highlights the challenges and courage of small business owners, features actress Issa Rae, and TV host and former NFL player Nate Burleson. Get the details for the Feb. 1 event here.

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quickbooks 98

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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.