Lockstep
MAY 4, 2022
Is your AR aging creeping beyond resolution? Are you even able to review and report on your aging accounts receivable? The role of accounts receivables (AR) teams is increasingly important as the backbone of your organization’s financial health. However, the last two years have proven that the standard manual AR processes are not sustainable for the long-term success of the organization.
TaxConnex
MAY 3, 2022
F r om time to time, sales tax outsourcing relationships fail to work properly, and a change is necessary. As the sales tax outsourcing relationship progresses over time, sales and marketing messages give way to the realities of the operational relationship. Changes in ownership, staff or operations can affect provider performance or client needs. Let’s take a look at some of the major beefs that respondents had with their sales tax providers based on a survey TaxConnex conducted of financial pr
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RogerRossmeisl
MAY 5, 2022
Typically, businesses want to delay recognition of taxable income into future years and accelerate deductions into the current year. But when is it prudent to do the opposite? And why would you want to? One reason might be tax law changes that raise tax rates. There have been discussions in Washington about raising the corporate federal income tax rate from its current flat 21%.
PANALITIX
MAY 4, 2022
RESOURCES / ARTICLES. Designing the Ideal Team Structure: 6 Underlying Principles. Many Accountants struggle to stay on top of their work, especially during peak seasons. This can lead to unhappy clients and frustrated teams – a deadly combination. Longer term, there’s fatigue and despondency. . Sometimes, leaders have difficulty diagnosing the problem.
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.
MyIRSRelief
MAY 2, 2022
Amending and or correcting a US corporate 1120 or 1120S business tax return (1120X), there are many reasons to do so: Corporate business returns often require amendments to correct errors or to claim overlooked income, deductions or tax credits after the filing of the returns, if located in Los Angeles, CA or other city. The process of correcting business corporate returns 1120 or 1120S requires different types of amended forms and an understanding of the refund procedures as well as possible ad
TaxConnex
MAY 5, 2022
You’re trying to run a business and sales tax is not at the forefront of your plans. Nevertheless, you can do a quick check for the most common errors. Make sure you aren’t making these common mistakes to ensure you have sales tax in order and aren’t at risk for penalties and fees in the case of an audit. Misreading your nexus footprint. Besides the economic thresholds in each state, you should also be aware of creating a physical presence in various states.
Accountant Advocate brings together the best content for small business accounting professionals from the widest variety of industry thought leaders.
BurklandAssociates
MAY 2, 2022
Raise enough money to cover 18-24 months of runway based on your growth plans after the round while preserving as much equity as possible. The post How Much Money Should My Startup Raise at Series A? appeared first on Burkland.
Withum
MAY 5, 2022
Rajesh Tripathi. Principal Washington, DC. Calvin Yung. Manager – Withum. Ambassador Atul Keshap. President – United States India Business Council. John Campanella. CFO – Guidepoint Global. Food: Brazilian Barbecue “Churrasco” and “Feijoada” Sightseeing: Balneário Camboriú located in the State of Santa Catarina.
ThomsonReuters
MAY 5, 2022
Rev. Proc. 2022-24 (Apr. 29, 2022). Available at [link]. The IRS has released the 2023 cost-of-living adjusted limits for health savings accounts (HSAs), high-deductible health plans (HDHPs), and excepted benefit health reimbursement arrangements (EBHRAs). Here are the details: HSA Contribution Limits. The 2023 annual HSA contribution limit is $3,850 for individuals with self-only HDHP coverage (up from $3,650 in 2022), and $7,750 for individuals with family HDHP coverage (up from $7,300 in 2
RogerRossmeisl
MAY 5, 2022
Summer is just around the corner. If you’re fortunate enough to own a vacation home, you may wonder about the tax consequences of renting it out for part of the year. The tax treatment depends on how many days it’s rented and your level of personal use. Personal use includes vacation use by your relatives (even if you charge them market rate rent) and use by non-relatives if a market rate rent isn’t charged.
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.
Accounting Insight
MAY 4, 2022
After two years of cancelled, postponed and virtual events, like everyone else, we are thrilled that in-person exhibitions and trade shows are back this summer. With the market evolving at a rapid pace and new solutions and product developments being designed to enhance the way you do business; it is important that your business and your clients keep up with the perpetual digital transformation.
Withum
MAY 4, 2022
New York’s fiscal year 2023 budget bill that was enacted into law significantly expands the benefits of the state’s pass-through entity tax (“PTET”) for many businesses. Some of the major PTET highlights include amplifying the benefits for resident S corporation shareholders, as well as establishing a New York City PTET. The budget bill, which was signed into law on April 9, 2022, also accelerates individual income tax rate reductions, adds new or modifies some existing tax credits, among other
Reckon
MAY 2, 2022
In this year’s federal budget, amid the headlines and electioneering, came some important tax breaks for small businesses to incentivise the uptake of new technology. There were in fact two separate tax incentives announced, one designed for business technology purchases and one for skills and training. The twin measures are known as the ‘ Small Business Technology Investment Boost ’ and the ‘S mall Business Skills and Training Boost ’.
RogerRossmeisl
MAY 5, 2022
An experienced business valuation professional considers more than just a company’s financial statements when quantifying its value. The professional conducts detailed interviews and asks for a variety of documents when gathering information to use to value the business — and some of this information may provide objective insight into how much the owners believe the business is worth.
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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.
Dent Moses
MAY 2, 2022
When I was a kid, my grandparents kept several envelopes of cash in a desk drawer. It was their budgeting system and when money would come in it was allocated between various upcoming expenses each in a different envelope. It was very quaint, but I never recall them expressing any stress about money. The world changed and the next generation did something similar, but the money was in a checking account.
Withum
MAY 3, 2022
On May 1, 2022, Leneé Lyte , founder and CEO of boutique firm LYRC CPA, joins Withum to bolster the Firm’s Government Contractors Services practice. Withum, a nationally recognized CPA and advisory firm with 18 offices and annual revenue of $360M, ranks in the top 25 firms in the country. Leneé will join the Withum roster as a Principal in the Washington, DC office, increasing the Firm’s regional presence in its nationwide Government Contractor business.
Canopy Accounting
MAY 3, 2022
Loved by our customers. And loved by our customers’ customers. Canopy is building a better (and always improving) accounting practice management software platform for the accounting industry. We’ve been working hard and listening to feedback. And it looks like our clients have noticed.
Going Concern
MAY 3, 2022
Last week I wrote about the current Prometric mask rule as of May 2022 which in essence says you don’t have to wear a mask at the testing center but you can if you want to. This distinction is important as Prometric has always been a bit of the TSA on steroids when it comes to prohibited items — if they wanted to they could certainly ban masks in the testing center altogether like they do practically everything else.
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
ThomsonReuters
MAY 5, 2022
Fisher v. Aetna Life Ins. Co., 2022 WL 1193999 (2d Cir. 2022). Available at [link]. In a dispute over an insurer’s interpretation of a health plan provision incentivizing use of generic drugs, a federal appeals court has held that the regulation establishing an “embedded” individual cost-sharing limit under the Affordable Care Act (ACA) does not apply before January 1, 2016.
Withum
MAY 3, 2022
Most kids learn the story about George Washington chopping down the cherry tree, and when he was asked about it, he said, “I cannot tell a lie. I did it.” That story is a lie. It never happened. . Do you know the story about Columbus telling everyone that he had a faster route to India because he knew the world was round while everyone else thought the world was flat?
Canopy Accounting
MAY 2, 2022
The “Great Resignation.” We’ve heard a lot about it over the past 12 months or so, but data from the U.S. Bureau of Labor Statistics reveals that the average quit rate has actually been increasing every year since 2009.
Intuitive Accountant
MAY 5, 2022
Too many things happening too fast? Internationally renowned ProAdvisor Esther Friedberg Karp explains why it happens—and offers some tips for how to manage the insanity.
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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
MAY 5, 2022
QUESTION: I have been asked to make sure that our 401(k) plan is ready for a possible sale of the company. I understand that buyers typically ask for a determination letter to help assure that a plan is qualified, so I’m thinking we should get one. But I’ve heard that determination letters aren’t always available. When can a 401(k) plan be submitted for a determination letter?
CTP
MAY 6, 2022
Brought to you by Tri-Merit. High-performing accounting firms focus on providing high-value, specialized services tailored to their clients’ needs. If you are offering tax planning, that often means addressing industry or situational-specific solutions. . Expanding your offerings through referral partners is a great way to add more value to your clients’ businesses while growing your revenue to service your clients at the highest level.
Canopy Accounting
MAY 4, 2022
Schedule C , Profit or Loss From Business (Sole Proprietorship) is one of those tax forms that looks simple, but is baited with many traps for the unprepared tax professional.
AccountingDepartment
MAY 5, 2022
From one-man-teams to small and medium-sized businesses, accounting services are now a mandatory requirement of operations. But you probably don't need to hire an accountant or bookkeeper internally; you just need a trustworthy professional to work with.
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.
ThomsonReuters
MAY 5, 2022
Each year, tax time is an opportunity to expand your accounting firm’s client base. How did your firm fare this year? That is a question firms should consider as they reflect on the tax season. Leading up to tax time, there are potential clients ranging from individuals to major corporations who may be on the hunt for a new tax preparer. Firms not only need to be ready when the opportunity comes knocking, they must also understand the proactive steps they can take to drive greater growth and pro
Intuitive Accountant
MAY 5, 2022
Today is the last day to vote for Insightful Accountant's 2022 Top 100 ProAdvisor and ProAdvisor of the Year Awards. Voting closes tonight at 11:59:59 (PST).
Patriot Software
MAY 4, 2022
Tips, multiple pay rates, and labor laws, oh my! When you have a restaurant business, there can be a lot that goes into payroll. From learning tip requirements to setting up a restaurant payroll solution, we’re here to help you become a pro at handling restaurant payroll. How to do restaurant payroll Payroll for restaurants […] READ MORE.
Randal DeHart
MAY 6, 2022
Success in operating a profitable construction business is all about maintaining the proper balance of control over both The Profit Centers and The Cost Centers. If either one gets too powerful and is allowed to run your construction company, it can cause more damage than good. The definition of a Non-Profit Construction Company is one that tries to fix its weaknesses and continues making the same mistakes repeatedly, expecting a different result and continues to struggle until the owner lays do
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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.
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